OverviewSuggest Edit

Novanta (formerly known as GSI Group) is a supplier of technology solutions for advanced industrial and healthcare original equipment manufacturers (OEMs). It operates in three segments: Photonics, Vision, and Precision Motion. The Photonics segment designs, manufactures, and markets photonics-based solutions, including laser scanning, laser beam delivery, CO2 laser, solid-state laser, ultrafast laser, and optical light engine products. The Vision segment provides a range of medical-grade technologies, including medical insufflators, pumps and related disposables, visualization solutions, wireless, recorder and video integration technologies for operating room integrations, optical data collection, and machine vision technologies. The Precision Motion segment offers optical and inductive encoders, precision motor and motion control sub-assemblies, servo drives, air bearings, and air bearing spindles.

TypePublic
Founded1968
HQBedford, MA, US
Websitenovanta.com
Employee Ratings3.6
Overall CultureC-

Latest Updates

Employees (est.) (Dec 2020)2,200(-3%)
Job Openings152
Revenue (FY, 2020)$590.6 M(-5%)
Share Price (Sept 2021)$153.5(+2%)
Cybersecurity ratingAMore

Key People/Management at Novanta

Matthijs Glastra

Matthijs Glastra

Chairperson & Chief Executive Officer
Heinrich Dreyer

Heinrich Dreyer

Group President, Minimally Invasive Surgery
Robert Buckley

Robert Buckley

Chief Financial Officer
Sarah Betadam

Sarah Betadam

Chief Information Officer
Phil Martin

Phil Martin

Group President, Photonics
Kitty Sahin

Kitty Sahin

Vice President, Strategy and Business Development
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Novanta Office Locations

Novanta has offices in Bedford, Mukilteo, North Syracuse, Orlando and in 15 other locations
Bedford, MA, US (HQ)
125 Middlesex Turnpike
Mukilteo, WA, US
4600 Campus Pl
North Syracuse, NY, US
7279 William Barry Blvd
Orlando, FL, US
4531 36th St
Rocklin, CA, US
3900 Atherton Rd #110
Beijing, CN
Suite 2302, Tower C Oriental Media Center, No.4 Guang Hua Road
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Novanta Financials and Metrics

Novanta Revenue

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Novanta's revenue was reported to be $590.62 m in FY, 2020
USD

Revenue (Q1, 2021)

162.6m

Gross profit (Q1, 2021)

68.7m

Gross profit margin (Q1, 2021), %

42.3%

Net income (Q1, 2021)

11.3m

EBIT (Q1, 2021)

11.1m

Market capitalization (9-Sept-2021)

5.4b

Closing stock price (9-Sept-2021)

153.5

Cash (2-Apr-2021)

113.6m

EV

5.5b
Novanta's current market capitalization is $5.4 b.
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Revenue

384.8m521.3m614.3m626.1m590.6m

Revenue growth, %

3%35%18%

Cost of goods sold

222.3m300.8m352.8m364.0m346.1m

Gross profit

162.5m220.5m261.5m262.1m244.5m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q1, 2021

Revenue

109.0m119.1m146.3m147.0m150.4m160.8m157.2m155.1m154.1m155.5m144.7m162.6m

Cost of goods sold

62.9m65.6m87.6m84.8m85.2m91.2m90.9m89.4m90.0m91.0m86.0m93.8m

Gross profit

46.1m53.5m58.7m62.2m65.2m69.6m66.3m65.8m64.1m64.4m58.7m68.7m

Gross profit Margin, %

42%45%40%42%43%43%42%42%42%41%41%42%
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Cash

68.1m100.1m82.0m78.9m125.1m

Accounts Receivable

13.7m81.5m84.0m91.1m75.1m

Prepaid Expenses

5.6m10.7m9.2m12.0m8.1m

Inventories

59.7m91.3m104.8m116.6m92.7m
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Net Income

22.0m62.3m51.1m40.8m44.5m

Depreciation and Amortization

20.4m30.8m37.1m38.3m38.3m

Inventories

(2.9m)(13.6m)(15.6m)(7.4m)22.1m

Accounts Payable

(14.8m)(14.5m)
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q1, 2021

Net Income

34.3m44.3m52.6m12.8m24.5m39.5m12.3m22.6m31.6m11.9m23.6m11.3m

Depreciation and Amortization

6.5m13.6m22.4m9.1m18.2m27.4m9.1m18.1m28.0m9.3m18.8m9.8m

Inventories

(4.4m)(10.9m)(11.8m)(7.4m)(6.5m)(9.0m)(2.6m)(8.2m)(7.7m)1.9m5.9m675.0k

Accounts Payable

(5.6m)(10.9m)13.7m
USDFY, 2016

Revenue/Employee

303.2k

Debt/Equity

0.3 x

Debt/Assets

0.2 x

Financial Leverage

1.6 x
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Novanta Operating Metrics

Novanta's Backlog was reported to be $234.4m in FY, 2018.
FY, 2014FY, 2015FY, 2016Apr, 2017FY, 2017FY, 2018

Backlog

$82.1 m$96.8 m$115 m$187.1 m$234.4 m

Manufacturing Facilities (Americas)

56666

Patents Issued

350

Product Lines

19
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Novanta Acquisitions / Subsidiaries

Company NameDateDeal Size
Laser Quantum IncOctober 02, 2018
World of MedicineJune 06, 2017€115 m
Reach TechnologyMay 18, 2016
Lincoln Laser CompanyNovember 05, 2015$11 m
ApplimotionFebruary 12, 2015$13 m
Jadak TechnologiesFebruary 18, 2014$93.5 m
NDS Surgical ImagingJanuary 15, 2013$82.5 m
Excel TechnologyAugust 29, 2008$360 m
Thales Optronics - Beryllium BusinessJune 01, 2007$3 m
MicroE SystemsMay 14, 2004
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Novanta Revenue Breakdown

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Novanta revenue breakdown by business segment: 37.9% from Vision, 40.6% from Photonics and 21.5% from Precision Motion

Novanta revenue breakdown by geographic segment: 14.3% from Germany, 17.0% from Rest of Asia-Pacific, 10.8% from China , 39.4% from United States, 17.2% from Rest of Europe and 1.3% from Other

Novanta Cybersecurity Score

Cybersecurity ratingPremium dataset

A

95/100

SecurityScorecard logo

Novanta Online and Social Media Presence

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Novanta Company Culture

  • Overall Culture

    C-

    65/100

  • CEO Rating

    F

    50/100

  • Compensation

    B

    77/100

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Novanta News and Updates

New MOVIA 2-Axis Scan Head Complements Laser Beam-Steering Portfolio

Cambridge Technology, a business unit of Novanta Corporation (“Novanta”), announces the release of MOVIA, a compact, 2-axis scan head. Designed as a flexible, laser-beam delivery platform, MOVIA 10 mm aperture scan heads are compatible with a majority of lasers for processing a wide variety of mater…

New Handheld Scanner Integrates LF/HF RFID and 1D/2D Barcode

JADAK, a business unit of Novanta Corporation (“Novanta”), announces the release of the HS-1RS Secure Access Handheld Barcode Scanner, enabled with software from Imprivata and HID. The HS-1RS integrates 1D and 2D barcode scanning with LF/HF RFID smartcard/contact-less and prox card reading functiona…

Are Insiders Selling Novanta Inc. (NASDAQ:NOVT) Stock?

It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. So we’ll take a look at whether insiders have been buying or selling shares in Novanta.

Novanta to Present at the Baird Global Healthcare Conference on Wednesday, September 9, 2020

Novanta Inc. (Nasdaq: NOVT) (the "Company"), a trusted technology partner to medical and advanced technology equipment manufacturers, announced today that Matthijs Glastra, Chief Executive Officer, and Robert Buckley, Chief Financial Officer, are scheduled to present at the Baird Global Healthcare C…

Novanta Announces Financial Results for the Second Quarter 2020

Novanta Inc. (Nasdaq: NOVT), partner to medical and advanced technology equipment manufacturers, today reported financial results for the second quarter 2020.

Novanta Inc. Schedules Earnings Release and Conference Call for Thursday, August 6, 2020

Novanta Inc. (Nasdaq: NOVT), a partner to medical and advanced technology equipment manufacturers, will release its second quarter 2020 results on Thursday, August 6, 2020.
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Novanta Blogs

Baird's 49th Annual Global Industrial Conference

Date and Time: 11/6/19 7:00 am - 5:00 pm EST Baird's 49th Annual Global Industrial Conference All Day Event: 0 Language: Englis…

Novanta to Present at Baird’s 49th Annual Global Industrial Conference on Wednesday, November 6, 2019

Dateline City: BEDFORD, Mass. BEDFORD, Mass.--(BUSINESS WIRE)--Novanta Inc. (Nasdaq: NOVT) (the "Company"), a trusted technology partner to medical and advanced technology equipment manufacturers, announced today that Matthijs Glastra, …

Novanta, Inc. 2019 Q3 Earnings Call

Date and Time: 11/5/19 10:00 am - 11:00 am EST Novanta, Inc. 2019 Q3 Earnings Call All Day Event: 0 Language: English …

Novanta Inc. Schedules Earnings Release and Conference Call for Tuesday, November 5, 2019

Dateline City: BEDFORD, Mass. BEDFORD, Mass.--(BUSINESS WIRE)--Novanta Inc. (Nasdaq: NOVT) (the “Company”), a trusted technology partner to medical and advanced technology equipment manufacturers, will release its third quarter 2019 res…

Baird Global Healthcare Conference - 2019

Date and Time: 9/4/19 7:00 am - 5:00 pm EDT Baird Global Healthcare Conference - 2019 All Day Event: 1 Language: English …

Novanta to Present at the Baird Global Healthcare Conference on Wednesday, September 4, 2019

Dateline City: BEDFORD, Mass. BEDFORD, Mass.--(BUSINESS WIRE)--Novanta Inc. (Nasdaq: NOVT) (the "Company"), a trusted technology partner to medical and advanced technology equipment manufacturers, announced today that Matthijs Glastra, …
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Novanta Frequently Asked Questions

  • When was Novanta founded?

    Novanta was founded in 1968.

  • Who are Novanta key executives?

    Novanta's key executives are Matthijs Glastra, Heinrich Dreyer and Robert Buckley.

  • How many employees does Novanta have?

    Novanta has 2,200 employees.

  • What is Novanta revenue?

    Latest Novanta annual revenue is $590.6 m.

  • What is Novanta revenue per employee?

    Latest Novanta revenue per employee is $268.5 k.

  • Who are Novanta competitors?

    Competitors of Novanta include Allied Motion Technologies, HEIDENHAIN and Renishaw.

  • Where is Novanta headquarters?

    Novanta headquarters is located at 125 Middlesex Turnpike, Bedford.

  • Where are Novanta offices?

    Novanta has offices in Bedford, Mukilteo, North Syracuse, Orlando and in 15 other locations.

  • How many offices does Novanta have?

    Novanta has 19 offices.