Novanta Q2 Revenue Jumps 10%, Raises Full-Year Outlook on Riverpoint Deal
NOVT sits 56% above its 52-week low of $98.27.
Summary
Novanta delivered a strong Q2 with revenue up 10.3% to $265.8M and adjusted EPS of $0.89, beating expectations. Organic growth hit 9.3%, the best since early 2023. The recently closed $1.2B Riverpoint Medical acquisition is now factored into guidance, pushing full-year revenue to $1.13-1.14B and adjusted EPS to $3.68-3.74. Riverpoint doubles the recurring medical consumables business to ~25% of sales and lifts medical exposure to ~60% of revenue. Q3 guidance calls for revenue of $300-304M and adjusted EPS of $0.95-1.00, reflecting immediate accretion. This follows the June 9 acquisition announcement and the July 27 deal close, confirming the strategic shift toward higher-margin medical markets.
At the time of this announcement, NOVT was trading at $153.12 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $5.5B. The 52-week trading range was $98.27 to $171.85. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.