Novanta Inc (NASDAQ: NOVT)

Novanta Inc. is a leading global supplier of core technology solutions that give medical life science and advanced industrial original equipment manufacturers a competitive advantage. The company combines deep proprietary technology expertise and competencies in precision medicine precision manufacturing robotics and automation and advanced surgery with a proven ability to solve complex technical challenges. This enables it to engineer proprietary technology solutions that deliver extreme precision and performance tailored to customers demanding applications.

Novanta Inc. generates revenue by designing manufacturing and selling a range of products including laser beam steering and scanning solutions laser sources robotic and precision motion systems robotic end of arm tooling air bearing spindles medical insufflators and endoscopic pumps imaging identification and RFID solutions advanced motion control solutions light engines and integrated operating room technologies. The majority of these products are sold directly to original equipment manufacturer customers through a technical sales force with additional sales made via distributors and resellers. Revenue is derived from both the medical market and the advanced industrial market.

The company operates through the following segments: Automation Enabling Technologies and Medical Solutions.

• Automation Enabling Technologies designs manufactures and markets laser beam steering and scanning solutions laser sources robotic and precision motion robotic end of arm tooling and air bearing spindles serving advanced industrial processes medical robotics life science automation and medical laser procedures such as ophthalmology applications.

• Medical Solutions designs manufactures and markets medical insufflators and endoscopic pumps and related disposables imaging identification and RFID solutions advanced motion control solutions light engines and integrated operating room technologies serving minimally invasive surgery surgical part tracking counterfeit detection life sciences medical equipment industrial automation and semiconductor manufacturing equipment.

Novanta Inc. holds a strong position in the niche markets of medical and advanced industrial technology solutions competing with a mix of large diversified corporations and small specialized firms. Its competitive advantages stem from advances in technology and product performance favorable price for performance ratios high throughput low total cost of ownership superior product quality deep application knowledge and expertise strong reputation among customers responsive customer service and technical support speed to market broad geographical presence and long term customer relationships.

The company serves a diverse base of original equipment manufacturer customers that are global leaders in the medical and advanced industrial markets. While specific customer names are not disclosed two OEM customers each accounted for approximately twelve percent and eleven percent of total revenue in 2025. Customers typically integrate Novanta's products into their systems for sale to end users and evaluate factors such as product performance reliability application support price breadth of offerings financial condition and global presence before making purchasing decisions.