Novanta (NOVT) Investor presentation summary

Business model and market focus

• Focuses on being a differentiated long-term OEM supplier, winning in high-growth end markets with leading OEMs and proprietary IP.

• Delivers sustainable and leverageable cash flows, with $981M in revenue and $221M adjusted EBITDA (22% of sales).

• Medical markets account for 53% of sales, with a $7B addressable market growing at 5–7% CAGR.

Growth strategy and transformation

• Pursues organic revenue growth, evolving business mix, and compounding cash flows through asset-light, high-margin businesses.

• Expanding from advanced components to medical, consumables, and embedded software, targeting recurring revenue streams.

• Targets innovative growth platforms in precision medicine, scan systems, AI, and robotic surgery, with over $4B additional market opportunity by 2030.

Market leadership and innovation

• Market leader in smoke evacuation insufflation and expanding into arthroscopy pumps, targeting a $1B market by 2030.

• Medical consumables now ~15% of sales, with double-digit growth and recurring revenue per procedure.

• Leading supplier for robotic surgery applications, with unique solutions and a $1B market by 2030.

• Proprietary physical AI robotics solutions focused on safety, dexterity, and sensing, targeting $1B market by 2030.

• Advanced beam steering for manufacturing automation, with a $0.4B market by 2030.