Novanta ( (NOVT) ) has released its Q3 earnings. Here is a breakdown of the information Novanta presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Novanta Inc., listed on Nasdaq under the ticker NOVT, is a global supplier of core technology solutions for medical and advanced industrial equipment manufacturers, known for its expertise in precision medicine, medical solutions, and robotics and automation. In its third-quarter 2024 earnings report, Novanta announced a GAAP revenue of $244 million, reflecting a 10.3% increase from the previous year, although net income slightly decreased to $19 million compared to $21.2 million in 2023. The company’s adjusted earnings per share remained stable at $0.85, while adjusted EBITDA rose to $57 million from $52.2 million the previous year. The revenue growth was primarily driven by acquisitions and favorable foreign exchange rates, though organic growth remained flat. Novanta’s CEO, Matthijs Glastra, emphasized the strength of the company’s diversified business model and the positive outlook for its minimally invasive surgery products. Looking ahead, Novanta anticipates organic revenue growth of up to 10% in 2025, fueled by new product launches and a recovering investment climate, with expected fourth-quarter revenue between $237 million and $242 million.
