Novanta ( (NOVT) ) has released its Q4 earnings. Here is a breakdown of the information Novanta presented to its investors.
Novanta Inc., a leading global supplier of core technology solutions for medical, life science, and advanced industrial equipment manufacturers, has reported its financial results for the fourth quarter and full year 2024. The company is known for its expertise in precision medicine, manufacturing, robotics, and advanced surgery.
In its latest earnings report, Novanta announced a 13% increase in GAAP revenue for the fourth quarter of 2024, reaching $238 million, despite a $2 million unfavorable foreign exchange impact. For the full year, GAAP revenue rose by 8% to $949 million. The company also reported a significant increase in operating cash flow, which grew by 32% to $159 million for the year.
Key financial highlights include a full-year GAAP diluted EPS of $1.77 and an adjusted EPS of $3.08. Adjusted EBITDA for the year increased by 7% to $210 million. The fourth quarter saw a 21% rise in adjusted diluted EPS to $0.76 and a 15% increase in adjusted EBITDA to $52.1 million. Novanta’s acquisition activities contributed to a 9.4% revenue increase, while organic revenue growth was 3.4% for the quarter.
Looking ahead, Novanta’s management remains confident in its strategy and product portfolio. The company expects to achieve approximately $1.0 billion in GAAP revenue for 2025, representing a 5% year-over-year growth. The outlook includes expectations for strong performance in the medical technology markets, with incremental new product sales anticipated in 2025.
Overall, Novanta’s financial performance in 2024 reflects its ability to navigate challenging environments and its commitment to innovation and growth. The company’s strategic focus on acquisitions and new product launches positions it well for continued success in the coming year.