Novanta supplies precision components and subsystems to medical, life-science and advanced-industrial equipment manufacturers. Its products include lasers, motion controls, robotic tooling, surgical equipment, imaging and identification technologies. The July 2026 acquisition of Riverpoint Medical added surgical fibers, sutures and related medical devices. Novanta reports in U.S. dollars under U.S. GAAP.
Loading the company summary…
A snapshot of what NOVANTA INC owns and owes at a point in time.
Read the company’s balance sheet in the original annual reports below.
Browse original filingsSee the original statement for its reporting period, currency, and unit.
3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Dec 31, 20230000950170-24-021689 | Feb 28, 2024 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20240000950170-25-026131 | Feb 25, 2025 | 10-K | Open 10-Ksec.gov |
| Dec 31, 20250001193125-26-064230 | Feb 23, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
Novanta's expanding sales base has not translated consistently into stronger operating earnings. In 2025, acquisition and currency benefits supported revenue, while corporate spending, restructuring and working-capital investment weakened profit and cash generation. First-half 2026 revenue and net income improved, but operating income declined; lower net interest expense and currency losses helped earnings, while customer advances and equity-settled bonuses supported cash flow. The completed Riverpoint acquisition then materially changed the company's scale and financing requirements after the reported half-year. Its historical business generated profit and operating cash, but acquisition accounting and financing produced a loss in the illustrative annual combined results. The central uncertainties are integration execution, cash conversion and the remaining $250 million payment—not whether the acquisition closed. Post-closing cash and covenant headroom are not established by the supplied disclosures.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-07-03 · 8-K · 2026-07-22 · EX-99.1 · 2026-07-22 · EX-99.3 · 2026-07-22
Novanta primarily sells engineered products rather than complete end-user systems or recurring services. Management describes significant switching barriers once its components are designed into OEM platforms, especially regulated medical equipment. Those relationships still depend on customer launches, procedure volumes, research budgets and industrial investment. Significant customers have no minimum-purchase commitments. In 2025, medical markets represented approximately 53% of revenue, while the top ten customers represented 42%; two customers individually accounted for approximately 12% and 11%.
The current segments are Automation Enabling Technologies and Medical Solutions. Both serve multiple end markets, so Medical Solutions is not a measure of all medical-market sales. The fourth-quarter 2024 reorganization replaced three segments and recast comparative results; unrecast historical segment figures are not directly comparable. Segment operating income also excludes corporate costs that must be included in consolidated profitability.
Sources: 10-K · 2025-12-31 · 10-K · 2024-12-31
Revenue reached $980.600 million in 2025, but operating income fell to $94.012 million and net income to $53.829 million. Robotics and advanced surgery strengthened, while precision manufacturing and precision medicine weakened. Management reported a $21.8 million acquisition effect and $14.6 million currency benefit; the acquisition effect is not reconciled to Keonn's separately disclosed $31.7 million revenue contribution. Neither amount should be added again to consolidated sales or used interchangeably to construct organic growth.
Gross margin remained 44.4%, concealing tariff and manufacturing-transition costs offset by productivity, surgery utilization and favorable prior-year comparisons. Higher systems-planning, compensation, acquisition and restructuring expenses absorbed gross-profit gains. Lower net interest expense partly cushioned the earnings decline. Diluted EPS fell to $1.47, with minimum shares deliverable under tangible equity units enlarging the denominator before physical issuance.
Sources: 10-K · 2025-12-31
Operating cash flow fell from $158.512 million in 2024 to $64.056 million in 2025. Management attributed inventory investment to manufacturing regionalization and receivables growth to collection timing; higher cash taxes also weighed on conversion. Year-end cash nevertheless increased to $380.871 million principally because of tangible-equity-unit financing, not improved operations. Acquisition spending, debt repayments, repurchases and capital expenditure were separate uses of those funds.
First-half 2026 operating cash flow recovered to $116.540 million, but included a customer advance and reduced cash bonuses following conversion of 2025 bonuses to equity. Contract liabilities reached approximately $48.0 million, including refundable amounts. These receipts carry delivery or possible refund obligations and are not recurring profit. The $718.650 million July 3 cash balance preceded Riverpoint's acquisition and must not be presented as post-closing liquidity.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-07-03
For the six months ended July 3, 2026, revenue was $523.514 million, operating income $45.600 million and net income $33.640 million. Sales and net income increased against the six months ended June 27, 2025, but operating income declined. Automation benefited from volumes, pricing, refunds and cost reductions; Medical Solutions faced mix and transformation pressure. Higher corporate costs outweighed improved segment operating profits. Lower net interest expense and currency losses supported net income. Riverpoint contributed nothing to these reported half-year results.
Sources: 10-Q · 2026-07-03
Riverpoint closed July 23, 2026. October's provisional accounting identifies approximately $1,450.6 million consideration: $1,206.5 million cash and $244.1 million fair value for a $250 million payment still due on or before January 8, 2027. The payment is already included in consideration, not an additional $250 million purchase. Acquisition financing included $616 million borrowed July 22 and existing cash. July 23 gross debt was approximately $854.8 million; remaining revolver availability was approximately $434 million, which is borrowing capacity, not cash. Actual post-closing cash and covenant headroom remain undisclosed.
Sources: 8-K · 2026-07-22 · 10-Q · 2026-07-03 · EX-99.3 · 2026-07-22
Customer concentration, single-location manufacturing and limited-source inputs expose Novanta to order changes and disruptions. In 2026, management reported that unavailable Chinese rare-earth export licenses were already delaying orders and raising costs, without quantifying the impact. Riverpoint adds integration, customer-retention, acquisition-valuation and financing exposure. Medical regulation and systems modernization can also disrupt operations. The supplied filings establish neither quantified synergies nor a post-acquisition earnings forecast.
Sources: 10-K · 2025-12-31 · 10-Q · 2026-07-03 · EX-99.1 · 2026-07-22 · EX-99.3 · 2026-07-22
USD 980.6 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 980.6 m | 3.3% |
| 2024 | USD 949.245 m | 7.7% |
| 2023 | USD 881.662 m | — |
Consolidated revenue recognized under ASC 606.
Sources: 10-K · 2025-12-31
USD 53.829 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 53.829 m | -16.0% |
| 2024 | USD 64.087 m | -12.1% |
| 2023 | USD 72.878 m | — |
Consolidated income after income taxes.
Sources: 10-K · 2025-12-31
USD 64.056 m
FY2025 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 64.056 m | -59.6% |
| 2024 | USD 158.512 m | 32.0% |
| 2023 | USD 120.075 m | — |
Net operating cash flow, including working-capital changes and cash interest and taxes; not net income.
Sources: 10-K · 2025-12-31
USD 136.12 m
FY2025 · GAAP · Runway Buyer, LLC consolidated · Attribution: acquired business · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 136.12 m | — |
Consolidated acquired-business revenue, not Novanta consolidated revenue.
Sources: EX-99.1 · 2026-07-22
USD 11.462563 m
FY2025 · GAAP · Runway Buyer, LLC consolidated · Attribution: acquired business · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 11.462563 m | — |
Consolidated acquired-business net income after interest and income tax.
Sources: EX-99.1 · 2026-07-22
USD 27.075902 m
FY2025 · GAAP · Runway Buyer, LLC consolidated · Attribution: acquired business · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2025 | USD 27.075902 m | — |
Net cash provided by operating activities, including cash interest and taxes.
Sources: EX-99.1 · 2026-07-22
Reading times are estimates for the English text. Financial tables and charts may take additional time.
