Novanta Q1 revenue rises, beats analyst expectations

Novanta

11/05/2026 21:57

Overview

Medical technology supplier's Q1 revenue grew 10%, beating analyst expectations

Adjusted diluted EPS for Q1 rose 9%, beating analyst expectations

Company's Q1 organic revenue grew 3%, driven by acquisitions and favorable currency movements

Outlook

Novanta expects Q2 GAAP revenue between $259 mln and $264 mln

Company sees Q2 Adjusted Diluted EPS of $0.81 to $0.86

Novanta forecasts full-year GAAP revenue of $1.04 bln to $1.055 bln

Result Drivers

STRONG BOOKINGS - Q1 bookings grew 37% year-over-year with a 1.10 book-to-bill ratio, driven by new product momentum and commercial execution, per CEO Matthijs Glastra

ACQUISITIONS AND CURRENCY - Revenue growth benefited from acquisitions and favorable foreign currency exchange rates

WORKING CAPITAL IMPROVEMENT - Operating cash flow rose 63%, primarily due to improvements in net working capital

Company press release: ID:nBw6BS8Sfa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$257.70 mln
$253.39 mln (3 Analysts)
Q1 Adjusted EPS
Beat
$0.81
$0.78 (3 Analysts)
Q1 Consolidated Net Income
$21.10 mln
Q1 Adjusted EBITDA
Slight Miss*
$57.07 mln
$57.12 mln (2 Analysts)
Q1 Adjusted Operating Income
Beat
$43.16 mln
$41.32 mln (3 Analysts)

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the electronic equipment & parts peer group is "buy."

Wall Street's median 12-month price target for Novanta Inc is $158.50, about 14.6% above its May 8 closing price of $138.31

The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 37 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)