Novanta Beats Q2 Expectations with 3% Revenue Growth

Novanta Surpasses Q2 2024 Expectations with 3% Revenue Growth

Novanta Inc., a leading provider of medical technology and advanced industrial solutions, reported robust financial results for the second quarter of 2024, surpassing market expectations. The company announced a revenue increase to $236 million, marking a 3% growth from the previous year. Adjusted gross margins reached 47%, and adjusted EBITDA rose to $51 million, both exceeding forecasts. Operating cash flow showed a significant year-over-year increase of 57% to $41 million. Novanta's focus on new product launches, strategic acquisitions, and margin expansion has positioned the company for a promising outlook in 2025.