Novanta Inc. has recently released its 10-Q report, providing an insight into its financial condition and operations. The company operates in two segments: Automation Enabling Technologies and Medical Solutions, offering precision medicine, precision manufacturing, robotics and automation, and advanced surgery solutions. The Automation Enabling Technologies segment provides laser beam delivery components, precision motors, and intelligent robotic end-of-arm technology solutions, while the Medical Solutions segment offers medical insufflators, laser beam delivery solutions, and advanced motion control solutions.
In the 10-Q report, Novanta Inc. reported that for the six months ended June 27, 2025, the medical market accounted for approximately 54% of its revenue, while the advanced industrial market accounted for approximately 46% of its revenue. The company's strategy aims to drive sustainable, profitable growth through initiatives such as focusing on a diversified business model, increasing penetration of high-growth advanced industrial applications, and broadening its portfolio of enabling proprietary technologies and capabilities.
A significant event highlighted in the report is the acquisition of Keonn Technologies, S.L., a leader in Radio-Frequency Identification ("RFID") solutions, for an initial purchase price of €65.1 million ($71.4 million). Additionally, the company entered into the Fourth Amended and Restated Credit Agreement, providing for an aggregate credit facility of approximately $1.0 billion, comprised of euro-denominated term loan facilities, U.S. dollar-denominated term loan facilities, and a revolving credit facility. The market has reacted to these announcements by moving the company's shares -4.85% to a price of $118.00. For more information, read the company's full 10-Q submission here.
