Novanta Reports Q1 Revenue of $257.7M, Exceeding Expectations
Reports Q1 revenue $257.7M, consensus $253.4M. "Novanta delivered another quarter of excellent bookings, growing 37% year-over-year and representing a 1.10 book-to-bill ratio, driven by continued new product momentum and strong commercial execution by our business teams," said Matthijs Glastra, Chair and Chief Executive Officer. "We exceeded expectations with revenue growth of more than 10% year-over-year on a reported basis and 3% organically. Adjusted EBITDA advanced 14%, Adjusted Diluted EPS of $0.81 increased 9%, and Operating Cash Flow grew 63%."
