Novanta Inc. reported financial results for the third quarter of fiscal 2026, which ended October 2, 2026. The company announced GAAP revenue of $305.0 million for the quarter, representing a 23.1% increase compared to the same period in the prior year. This growth was attributed to the company's acquisition activities, which contributed a net increase of $32.9 million to revenue.
GAAP net income for the quarter was $2.0 million, a decrease from $10.7 million in the prior year. GAAP diluted earnings per share (EPS) were reported at $0.05, down from $0.30 in the prior year. However, on a non-GAAP basis, Adjusted Diluted EPS increased 20.7% to $1.05, and Adjusted EBITDA grew 38.3% to $80.3 million.
Operating cash flow for the quarter was $39.3 million, compared to $8.5 million in the prior year. The company’s backlog increased to $543 million, and customer bookings grew by 29% year-over-year.
Novanta provided guidance for the remainder of fiscal 2026. For the fourth quarter of 2026, the company expects GAAP revenue between $306 million and $312 million, and Adjusted Diluted EPS between $0.91 and $0.96. For the full year 2026, the company expects GAAP revenue to be in the range of $1.135 billion to $1.140 billion, with Adjusted Diluted EPS expected to be between $3.66 and $3.71.
Looking ahead to fiscal 2027, Novanta expects reported revenue growth of more than 15%.
