Novanta (NOVT) Q1 FY26 earnings call

Earnings call· Mar 2026 (Q1 FY26)· Information Technology· May 12, 2026

Source: earnings call transcript

Novanta delivered a strong Q1 FY26, exceeding revenue expectations with accelerated organic growth and robust bookings, driven by new product momentum and strong commercial execution across all businesses. Despite temporary gross margin pressures from geopolitical factors, the company reaffirmed its full-year outlook, confident in its strategic investments in high-growth markets like AI-driven robotics and medical technologies, and its ongoing manufacturing footprint transformation.

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NOVT operating KPIs by quarter

NOVT operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Dec 2025 Q4 FY25	This call Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	Change vs prior quarter
Book-to-bill	1.11 ratio Bookings surged 25% year-over-year and 12% sequentially with a book-to-bill of 1.11. Source: earnings call transcript	1.1 ratio Bookings grew 37% year-over-year with a book-to-bill of 1.10 on continued new product momentum and strong commercial execution. Source: earnings call transcript	—	-0.9%
Vitality Index	24% New product sales in the fourth quarter grew over 80% year-over-year, raising the Vitality Index to 24% of sales. Source: earnings call transcript	27% In addition, new product sales grew over 50% year-over-year, raising the Vitality Index to 27% of sales. Source: earnings call transcript	~29% New product revenue grew by more than 50% in the quarter and is up over 60% year-to-date, lifting our vitality index to approximately 29% of sales from 21% a year ago. Source: earnings call transcript	—
Book-to-bill Automation Enabling Technologies	1.16 ratio The book-to-bill in this segment was 1.16 and bookings were up 33% year-over-year. Source: earnings call transcript	1.15 ratio The book-to-bill in this segment was 1.15 and bookings were up 35% year-over-year. Source: earnings call transcript	1.1 ratio The book-to-bill in this segment was 1.1 and bookings were up 18% year-over-year. Source: earnings call transcript	-4.3%
Book-to-bill Medical Solutions	1.07 ratio This segment saw a book-to-bill of 1.07 in the fourth quarter and bookings were up 17% year-over-year. Source: earnings call transcript	1.04 ratio This segment saw a book-to-bill of 1.04 in the quarter and bookings were up 40% year-over-year. Source: earnings call transcript	0.79 ratio This segment saw a book-to-bill of 0.79 in the second quarter and year-to-date had bookings growth of greater than 10% year-over-year. Source: earnings call transcript	-24%
Vitality Index Medical Solutions	<28% New product sales in the fourth quarter grew by nearly 80% year-over-year and the Vitality Index in this segment was nearly 28% of sales. Source: earnings call transcript	—	30%+ New product sales grew by nearly 50% year-over-year and the vitality index in this segment was above 30% of sales. Source: earnings call transcript	—

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.