Novanta Inc. Earnings Recaps
Q1 2026
May 13, 2026
Novanta's Q1 results displayed notable revenue and bookings beats, driving an 11% stock gain as underlying demand across advanced surgery, robotics, and precision manufacturing showed clear acceleration.
Key takeaways
- Reported revenue grew 10% year-over-year with 3% organic growth, accelerating from the prior quarter.
- Bookings surged 37% year-over-year, yielding a book-to-bill ratio of 1.10, indicating ongoing momentum.
- Adjusted EBITDA increased 14%, with margin expansion of 70 basis points, alongside a 9% rise in adjusted diluted EPS.
- Operating cash flow rose 63% year-over-year, with cash flow conversion exceeding 200% of net income.
- Double-digit growth persisted in Advanced Surgery and medical consumables; Robotics & Automation bookings jumped 50%, and Precision Manufacturing returned to mid-single-digit revenue growth.