Novanta's third quarter 2026 organic growth of 9.9% and $305M revenue exceed expectations

Novanta Inc. reported third quarter 2026 results that beat analyst estimates on both the top and bottom lines. Revenue rose 23% year-over-year to $305 million, driven by 9.9% organic growth and the successful closing of the Riverpoint Medical acquisition, the largest in the company's history. While GAAP net income was impacted by acquisition-related costs, Adjusted EBITDA grew 38% with significant margin expansion.

Key Highlights

• Organic revenue growth reached 9.9%, significantly exceeding the previously guided range of 7% to 9%.
• Customer bookings surged 29% year-over-year, resulting in a record company backlog of $543 million.
• Adjusted EBITDA margins expanded by 290 basis points to 26%, supported by strong performance in the Automation Enabling Technologies segment.
• Management raised full-year 2026 guidance, now expecting adjusted diluted EPS between $3.66 and $3.71 and organic revenue growth of approximately 7%.