Quarterly ResultMay 11, 2026, 05:07 PM
Novanta Q1 Revenue $257.7M, Net Income $21.1M; EPS $0.51
AI Summary
Novanta Inc. reported a 10.4% increase in revenue to $257.7 million for the first quarter of 2026, compared to $233.4 million in the prior year. However, net income slightly decreased by 0.5% to $21.1 million, resulting in diluted earnings per share of $0.51, down from $0.59. The company also entered into an approximately $26.7 million buy-in contract for its U.K. defined benefit pension plan in January 2026 and made a $4.4 million contingent consideration payment related to the Keonn acquisition.
Key Highlights
- Q1 2026 revenue increased 10.4% to $257.7 million from $233.4 million in Q1 2025.
- Net income for Q1 2026 was $21.1 million, a slight decrease from $21.2 million in Q1 2025.
- Diluted EPS for Q1 2026 was $0.51, down from $0.59 in Q1 2025.
- Net cash provided by operating activities increased to $51.6 million from $31.7 million in Q1 2025.
- Cash and cash equivalents at period end were $388.8 million, up from $106.0 million in Q1 2025.
- Automation Enabling Technologies revenue was $131.2 million, and Medical Solutions revenue was $126.5 million.
- The company repurchased $18.6 million of common shares during the quarter.
- A $26.7 million buy-in contract for the U.K. defined benefit pension plan was entered in January 2026.
Price Impact
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