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Novanta cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow$57.5M in Q2 2026 · $114M over twelve months

Operating cash flow$64.9M
Capital spending−$7.5M
Free cash flow+$57.5M
Cash / net income5.2×
Cash conversion cycle121 days

Analysis

In Q2 2026, Novanta generated $64.9M of operating cash flow and spent $7.5M on capital projects, leaving free cash flow of $57.5M.

Over the twelve months to Jul 3, 2026, operating cash flow was $134M; the largest uses were net borrowing (+) / repaid (−) ($344M), buybacks ($51.8M), capital spending ($19.6M); besides operations, cash came from other financing ($904M), asset & business sales ($404K); the cash balance rose by $609M.

Operating cash flow was $64.9M against net income of $12.5M — 5.2× profit, cash ran ahead of reported earnings. The largest differences: payables +$21.9M, depreciation & amortization +$14.6M, stock-based pay +$9.8M.

Its cash conversion cycle was 121 days (receivables 60 + inventory 121 − payables 61).

Free cash flow

Novanta: free cash flow by quarterNovanta: free cash flow by quarter$19.5MQ3 2024$59.3MQ4 2024$27.4MQ1 2025$11.7MQ2 2025$4.2MQ3 2025$5.1MQ4 2025$47.5MQ1 2026$57.5MQ2 2026
Operating cash flow less capital spending.
Novanta: operating cash flow against capital spendingNovanta: operating cash flow against capital spendingOperating cash flowCapital spending$23.0M$3.6MQ3 2024$61.6M$2.2MQ4 2024$31.7M$4.3MQ1 2025$15.1M$3.4MQ2 2025$8.5M$4.3MQ3 2025$8.8M$3.7MQ4 2025$51.6M$4.1MQ1 2026$64.9M$7.5MQ2 2026
Latest (Q2 2026): Operating cash flow $64.9M, Capital spending $7.5M.

Capital allocation, year by year

Novanta: where the cash came from (up) and went (down), by fiscal yearNovanta: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingBuybacksFY2021: Operating cash flow $94.6MFY2021: Net borrowing $238MFY2021: Asset sales $200KFY2021: Capital spending −$20.0M$333MFY2021FY2022: Operating cash flow $90.8MFY2022: Net borrowing $10.3MFY2022: Asset sales $137KFY2022: Capital spending −$19.6MFY2022: Buybacks −$10.0M$101MFY2022FY2023: Operating cash flow $120MFY2023: Net borrowing −$87.2MFY2023: Asset sales $69KFY2023: Capital spending −$20.0M$120MFY2023FY2024: Operating cash flow $159MFY2024: Net borrowing $66.2MFY2024: Asset sales $173KFY2024: Capital spending −$17.2M$225MFY2024FY2025: Operating cash flow $64.1MFY2025: Net borrowing −$284MFY2025: Asset sales $5.6MFY2025: Capital spending −$15.6MFY2025: Buybacks −$39.3M$69.7MFY2025
Over these 5 years operating cash flow totalled $528M; the largest uses were net borrowing ($371M) and capital spending ($92.4M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$719M
Debt$230M
Net cash$489M
Due within a year$41.5M

Novanta funds itself: free cash flow was $114M over the last twelve months, and $719M of cash and investments stands against $230M of debt ($41.5M due within a year, 17.3× covered by cash).

Where the cash came from and went

Novanta: sources (+) and uses (−) of cash, Q2 2026Novanta: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)−$330MOther financing$286MOperating cash flow$64.9MNet borrowing (+) / repaid (−)−$10.2MCapital spending−$7.5MTaxes on employees’ shares−$5.4MExchange rates$1.8M
Novanta: sources (+) and uses (−) of cash, TTM to Q2 2026Novanta: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing$904MCash drawn (+) / kept (−)−$609MNet borrowing (+) / repaid (−)−$344MOperating cash flow$134MBuybacks−$51.8MCapital spending−$19.6MTaxes on employees’ shares−$13.0MOther investing−$1.1MExchange rates$467KAsset & business sales$404K

From profit to cash

Novanta: net income to operating cash flow, Q2 2026Novanta: net income to operating cash flow, Q2 2026Net income$12.5MDepreciation & amortization$14.6MStock-based pay$9.8MDeferred taxes−$2.6MGains on disposals$60KOther non-cash$1.2MReceivables−$5.5MInventory−$610KPayables$21.9MOperating cash flow$64.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 20266012161121
Q1 20266512362126
Q4 20256612265123
Q3 20256111663114
Q2 20256110658110
Q1 2025599854103
Q4 20246310953119
Q3 20245810647116

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q2 2026$64.9M−$7.5M—−$10.2M−$330M$57.5M
Q1 2026$51.6M−$4.1M−$18.6M−$9.0M−$7.9M$47.5M
Q4 2025$8.8M−$3.7M−$19.1M−$307M−$292M$5.1M
Q3 2025$8.5M−$4.3M−$14.1M−$8.4M$20.7M$4.2M
Q2 2025$15.1M−$3.4M—−$11.5M−$3.9M$11.7M
Q1 2025$31.7M−$4.3M−$6.2M−$29.9M$7.9M$27.4M
Q4 2024$61.6M−$2.2M—−$35.3M−$21.3M$59.3M
Q3 2024$23.0M−$3.6M—−$28.8M$5.8M$19.5M

Novanta: income statement and cash flow

Novanta, Q2 2026: revenue $266M (+10% year over year), operating margin 6.8%. The chart follows the revenue to costs, profit and cash.

Novanta: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.