Novanta (US:NOVT)2021-09-17 18:56Company Overview - Novanta is a technology partner in healthcare and advanced industrial markets[1] - The company focuses on cash returns with disciplined capital allocation[7] - The company has a high-performance growth culture through the Novanta Growth System[7] Market and Strategy - The company aligns with healthcare trends such as better outcomes at lower cost and personalized medicine[9] - The company plays in secular growth markets including robotic surgery, minimally invasive surgery, advanced diagnostics, and DNA sequencing[9] - The company wins through innovative technologies, OEM customer partnerships, proprietary IP, and global presence[9] - The company focuses on high-growth applications in photonics for Industrial 4.0 and medical applications[14, 16] - The company provides converging technology solutions for robotic applications including vision, sensing, and motion control[20] Financial Performance - The company's annual revenue is approximately $685 million, with over 50% in medical end-markets[6] - The company's addressable market is approximately $5 billion with a 5%-7% CAGR[6] - From 2012 to 2021, adjusted revenue increased from approximately $225 million to $685 million[29] - From 2012 to 2021, adjusted EBITDA increased from approximately $42 million to $145 million[29]