NOVTU

EX-99.1

2 novt-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

November 9, 2026

Novanta Announces Financial Results for the Third Quarter 2026

• Third Quarter 2026 GAAP Revenue increased 23% to $305 million

• Third Quarter 2026 GAAP Net Income was $2 million, and Adjusted EBITDA increased 38% to $80 million

• Third Quarter 2026 GAAP Diluted EPS was $0.05, and Adjusted Diluted EPS increased 21% to $1.05

BOSTON, November 9, 2026 -- Novanta Inc. (Nasdaq: NOVT) (“Novanta” or the “Company”), a trusted technology partner to medical and advanced technology equipment manufacturers, today reported financial results for the third quarter 2026.

Financial Highlights

Three Months Ended

(In millions, except per share amounts)

October 2,

September 26,

2026

2025

GAAP

Revenue

$

305.0

$

247.8

Operating Income

$

13.9

$

21.8

Net Income

$

2.0

$

10.7

Diluted EPS

$

0.05

$

0.30

Non-GAAP*

Adjusted Operating Income

$

65.1

$

47.4

Adjusted Diluted EPS

$

1.05

$

0.87

Adjusted EBITDA

$

80.3

$

58.1

*Reconciliations of GAAP to non-GAAP financial measures, as well as definitions for the non-GAAP financial measures included in this press release and the reasons for their use, are presented below.

Third Quarter

“The third quarter marked a significant milestone for Novanta as we closed the largest acquisition in our history and delivered strong financial results that exceeded our expectations,” said Matthijs Glastra, Chair and Chief Executive Officer. “Momentum continued in the third quarter as revenue advanced 23% and we achieved an Adjusted EBITDA margin of 26%, which improved 290 basis points year-over-year. Customer bookings increased 29%, reflecting strong commercial momentum and providing a solid foundation for future growth, expanding our backlog to $543 million. Equally important, Riverpoint Medical is performing in line with expectations as we continue to make meaningful progress on our operational synergies, while driving an exciting new product pipeline. Collectively, these results demonstrate the strength of our strategy and our continued commitment to driving sustainable growth and long-term shareholder value.”

For the third quarter of 2026, Novanta generated GAAP revenue of $305 million, an increase of $57.2 million or 23.1%, compared to prior year. The Company’s acquisition activities resulted in a net increase in revenue of $32.9 million or 13.3%. Year-over-year changes in foreign currency exchange rates unfavorably impacted revenue by $0.3 million or -0.1%. Organic Revenue Growth, which excludes the net impact of changes in foreign currency exchange rates, was an increase of 9.9% (see “Organic Revenue Growth” in the non-GAAP reconciliations below).

For the third quarter of 2026, GAAP operating income was $13.9 million, compared to $21.8 million in the prior year. GAAP net income was $2.0 million, compared to $10.7 million in the prior year. GAAP diluted earnings per share (“EPS”) was $0.05, compared to $0.30 in the prior year. Diluted weighted average shares outstanding was 42.7 million for the third quarter of 2026.

Adjusted Diluted EPS increased 20.7% to $1.05, compared to $0.87 in the prior year. Adjusted EBITDA increased 38.3% to $80.3 million, compared to $58.1 million in the prior year.

Operating cash flow was $39.3 million, compared to $8.5 million in the prior year. Year-to-date operating cash flow was $155.9 million compared to $55.3 million in the prior year.

Financial Overview by Reporting Segment

Automation Enabling Technologies

• Third quarter 2026 GAAP revenue was $145 million, as compared to $125 million in the same period a year ago.

• Third quarter 2026 GAAP gross profit was $73 million, as compared to $59 million in the same period a year ago. GAAP Gross profit margins was 50.2% as a percentage of revenue, as compared to 47.3% in the same period a year ago.

Medical Solutions

• Third quarter 2026 GAAP revenue was $160 million, as compared to $123 million in the same period a year ago.

• Third quarter 2026 GAAP gross profit was $64 million, as compared to $53 million in the same period a year ago. GAAP Gross profit margins was 39.9% as a percentage of revenue, as compared to 43.0% in the same period a year ago.

Financial Guidance

“With strong year-to-date performance and continued momentum in customer bookings, we remain on track to deliver on our full year outlook of approximately 7% Organic Revenue Growth, (or 16% on a reported basis), more than 24% growth in Adjusted EBITDA, and approximately $200 million in operating cash flow,” said Matthijs Glastra, Chair and Chief Executive Officer. “Our strong backlog, new product contributions and leading positions in markets benefiting from favorable long-term secular trends provide a solid foundation for future growth and value creation. Looking ahead to 2027, we expect reported revenue growth of more than 15%.”

For the fourth quarter of 2026, the Company expects GAAP revenue to be in