Novanta recasts segment reporting into Automation Enabling Technologies and Medical Solutions

NOVANTA INC

Two new segments replace prior three-segment structure (Precision Medicine & Manufacturing, Robotics & Automation, Medical Solutions).
Automation Enabling Technologies FY2024 revenue $490.6M, operating income $106.4M (up 10.5% YoY).
Medical Solutions FY2024 revenue $458.6M (up 19.9% YoY), operating income $57.5M (down 9.1% YoY).
Total FY2024 revenue $949.2M, operating income $110.6M; gross margin 44.4% vs 45.4% in FY2023.
Q4 2024 Medical Solutions operating income dropped to $7.0M from $15.8M a year earlier.

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