Company profile · free preview
Novanta Inc.
NOVT · NASDAQ · Technology · Updated 10/21/2026
Revenue
$980.6M
Fiscal 2025
Net income
$53.8M
Fiscal 2025
Free cash flow
$48.4M
Fiscal 2025
Net cash / (debt)
—
Fiscal 2025
Five-year financials
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | $980.6M | $949.2M | $881.7M | $860.9M | $706.8M |
| Net income | $53.8M | $64.1M | $72.9M | $74.1M | $50.3M |
| Diluted EPS | — | — | — | — | — |
| Operating cash flow | $64.1M | $158.5M | $120.1M | $90.8M | $94.6M |
| Free cash flow | $48.4M | $141.3M | $100.1M | $71.1M | $74.6M |
| Cash | $380.9M | $114.0M | $105.1M | $100.1M | $117.4M |
| Total debt | — | — | — | — | — |
Where the cash went
Cumulative, fiscal 2021–2025, straight from the reported cash-flow statements.
Reinvested in capex
17.5%
of operating cash flow
Returned to owners
—
of free cash flow (buybacks + dividends)
Diluted share count
—
change 2021–2025
| Operating cash flow | $528.0M |
| Capital expenditure | ($92.4M) |
| Free cash flow | $435.7M |
| Share buybacks | — |
| Dividends paid | — |
| Acquisitions (net) | — |
| Net debt issued / (repaid) | — |
| Stock-based compensation (non-cash) | — |
"—" means a year didn't report that line, so no total is shown rather than an estimate.
SEC filings
No filings stored yet.
Analyst overview
Novanta Inc. operates as a global supplier of highly engineered photonics and motion control components and subsystems. The company primarily serves original equipment manufacturers (OEMs) in medical and advanced industrial markets, integrating complex technologies to enable high-precision applications. Its competitive edge stems from specialized intellectual property and deep application knowledge within niche, high-growth segments.
Over the past five years, Novanta has demonstrated consistent revenue growth, from 706.8M in 2021 to an anticipated 980.6M in 2025. Net income, however, has shown some fluctuation, peaking at 74.1M in 2022 before a projected decline to 53.8M in 2025. Free cash flow has generally been robust, with 141.3M in 2024, although a notable decrease to 48.4M is projected for 2025. The company maintains a healthy cash position, expanding from 117.4M in 2021 to a projected 380.9M by 2025, with no reported total debt.
Key strengths include a growing top line, consistent free cash flow generation historically, and a strong balance sheet. A primary risk is the variability in net income and the projected decline in free cash flow for 2025, which warrants close attention. Investors should monitor future earnings trends, the sustainability of free cash flow, and the company's ability to maintain its market position in dynamic technological fields.
AI-generated from published financials and filings · 10/21/2026. Not investment advice.
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