Novanta (NOVT) 10-K 25 Feb 25 2024 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Feb. 17, 2025	Jun. 28, 2024
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Trading Symbol	NOVT
Entity Registrant Name	NOVANTA INC.
Entity Central Index Key	0001076930
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Public Float				$ 4,410,636,958
Entity Common Stock, Shares Outstanding			35,960,636
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	001-35083
Entity Incorporation, State or Country Code	A3
Entity Tax Identification Number	98-0110412
Entity Address, Address Line One	125 Middlesex Turnpike
Entity Address, City or Town	Bedford
Entity Address, State or Province	MA
Entity Address, Country	US
Entity Address, Postal Zip Code	01730
City Area Code	781
Local Phone Number	266-5700
Document Annual Report	true
Document Transition Report	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Auditor Name	Deloitte & Touche LLP	PricewaterhouseCoopers LLP
Auditor Firm ID	34	238
Auditor Location	Boston, Massachusetts, United States	Boston, Massachusetts, United States
Title of 12(b) Security	Common shares, no par value
Security Exchange Name	NASDAQ
Documents Incorporated by Reference	Portions of the Registrant’s Definitive Proxy Statement for the Registrant’s Annual Meeting of Shareholders scheduled to be held on May 29, 2025 to be filed with the Securities and Exchange Commission are incorporated by reference in answers to Part III of this Annual Report on Form 10-K.
Auditor Opinion [Text Block]	Opinions on the Financial Statements and Internal Control over Financial Reporting We have audited the accompanying consolidated balance sheet of Novanta Inc. and subsidiaries (the “Company”) as of December 31, 2024, the related consolidated statements of operations, comprehensive income, stockholders’ equity, and cash flows, for the year ended December 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024, and the results of its operations and its cash flows for the year ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America. We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company's internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control — Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated February 25, 2025 expressed an unqualified opinion on the Company’s internal control over financial reporting. Opinion on the Financial Statements We have audited the consolidated balance sheet of Novanta Inc. and its subsidiaries (the “Company”) as of December 31, 2023, and the related consolidated statements of operations, of comprehensive income, of stockholders’ equity and of cash flows for each of the two years in the period ended December 31, 2023, including the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2023 in conformity with accounting principles generally accepted in the United States of America.

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 113,989	$ 105,051
Accounts receivable, net of allowance of $505 and $571, respectively	151,026	139,410
Inventories	144,606	149,371
Prepaid income taxes and income taxes receivable	8,076	8,105
Prepaid expenses and other current assets	15,951	13,360
Total current assets	433,648	415,297
Property, plant and equipment, net	113,135	109,449
Operating right-of-use assets	42,908	38,302
Deferred tax assets	22,887	27,862
Other assets	5,991	5,617
Intangible assets, net	185,844	145,022
Goodwill	584,098	484,507
Total assets	1,388,511	1,226,056
Current Liabilities
Current portion of long-term debt	4,691	4,968
Accounts payable	76,890	57,195
Income taxes payable	16,000	7,767
Current portion of operating lease liabilities	9,879	8,189
Accrued expenses and other current liabilities	60,331	61,056
Total current liabilities	167,791	139,175
Long-term debt	411,949	349,404
Operating lease liabilities	40,548	37,345
Deferred tax liabilities	13,093	16,305
Income taxes payable	4,941	4,435
Other liabilities	4,491	5,932
Total liabilities	642,813	552,596
Commitments and Contingencies (Note 17)
Stockholders' Equity:
Preferred shares, no par value; Authorized shares: 7,000; No shares issued and outstanding
Common shares, no par value; Authorized shares: unlimited; Issued and outstanding: 35,938 and 35,814, respectively	423,856	423,856
Additional paid-in capital	84,214	70,180
Retained earnings	267,549	203,462
Accumulated other comprehensive loss	(29,921)	(24,038)
Total stockholders' equity	745,698	673,460
Total liabilities and stockholders’ equity	$ 1,388,511	$ 1,226,056

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 505	$ 571
Preferred shares, no par value	$ 0	$ 0
Preferred shares, Authorized	7,000,000	7,000,000
Preferred shares, Issued	0	0
Preferred shares, outstanding	0	0
Common shares, Authorized	Unlimited	Unlimited
Common shares, no par value	$ 0	$ 0
Common shares, Issued	35,938,000	35,814,000
Common shares, outstanding	35,938,000	35,814,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Revenue	$ 949,245	$ 881,662	$ 860,903
Cost of revenue	527,700	481,765	482,431
Gross profit	421,545	399,897	378,472
Operating expenses:
Research and development and engineering	95,515	91,682	85,770
Selling, general and administrative	175,943	164,460	158,901
Amortization of purchased intangible assets	25,794	20,445	26,338
Restructuring, acquisition and related costs	13,709	12,814	4,384
Total operating expenses	310,961	289,401	275,393
Operating income	110,584	110,496	103,079
Interest income (expense), net	(31,489)	(25,818)	(15,616)
Foreign exchange transaction gains (losses), net	413	(255)	67
Other income (expense), net	(442)	(675)	(371)
Income before income taxes	79,066	83,748	87,159
Income tax provision	14,979	10,870	13,108
Net income	$ 64,087	$ 72,878	$ 74,051
Earnings per common share (Note 9):
Basic	$ 1.78	$ 2.03	$ 2.08
Diluted	$ 1.77	$ 2.02	$ 2.06
Weighted average common shares outstanding—basic	35,950	35,844	35,652
Weighted average common shares outstanding—diluted	36,124	36,031	35,909

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income		$ 64,087	$ 72,878	$ 74,051
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax	[1]	(7,082)	7,823	(18,674)
Pension liability adjustments, net of tax	[2]	1,199	148	(469)
Total other comprehensive income (loss)		(5,883)	7,971	(19,143)
Total comprehensive income		$ 58,204	$ 80,849	$ 54,908
[1] The tax effect on this component of comprehensive income (loss) was nominal in 2024, 2023 and 2022 . The tax effect on this component of comprehensive income (loss) was $ 376 , $ 156 and $( 401 ) in 2024, 2023 and 2022 , respectively.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Pension liability adjustments, tax effect on the component of comprehensive income (loss)	$ 376	$ 156	$ (401)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Shares	Additional Paid-In Capital	Retained Earning (Deficit)	Accumulated Other Comprehensive Loss
Balance at Dec. 31, 2021	$ 521,291	$ 423,856	$ 53,768	$ 56,533	$ (12,866)
Balance (in shares) at Dec. 31, 2021		35,601
Net income	74,051			74,051
Common shares issued under stock plans (in shares)		276
Common shares withheld for taxes on vested stock awards	(11,721)		(11,721)
Common shares withheld for taxes on vested stock awards (in shares)		(82)
Repurchases of common shares	(10,000)		(10,000)
Repurchases of common shares (in shares)		(84)
Share-based compensation	23,108		23,108
Other comprehensive income (loss), net of tax	(19,143)				(19,143)
Balance at Dec. 31, 2022	577,586	$ 423,856	55,155	130,584	(32,009)
Balance (in shares) at Dec. 31, 2022		35,711
Net income	72,878			72,878
Common shares issued under stock plans (in shares)		173
Common shares withheld for taxes on vested stock awards	(10,563)		(10,563)
Common shares withheld for taxes on vested stock awards (in shares)		(70)
Share-based compensation	25,588		25,588
Other comprehensive income (loss), net of tax	7,971				7,971
Balance at Dec. 31, 2023	673,460	$ 423,856	70,180	203,462	(24,038)
Balance (in shares) at Dec. 31, 2023		35,814
Net income	64,087			64,087
Common shares issued under stock plans	440		440
Common shares issued under stock plans (in shares)		184
Common shares withheld for taxes on vested stock awards	(9,713)		(9,713)
Common shares withheld for taxes on vested stock awards (in shares)		(60)
Share-based compensation	23,307		23,307
Other comprehensive income (loss), net of tax	(5,883)				(5,883)
Balance at Dec. 31, 2024	$ 745,698	$ 423,856	$ 84,214	$ 267,549	$ (29,921)
Balance (in shares) at Dec. 31, 2024		35,938

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net income	$ 64,087	$ 72,878	$ 74,051
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	55,563	46,612	53,158
Provision for inventory excess and obsolescence	8,783	7,491	2,988
Impairment of operating lease assets		1,853
Share-based compensation	23,307	25,588	23,108
Deferred income taxes	(15,909)	(14,726)	(18,654)
Loss (gain) on disposal of fixed assets	(64)	148	(61)
Contingent consideration adjustments	(282)		(1,443)
Inventory acquisition fair value adjustments	2,777		160
Write-off of unamortized deferred financing costs			624
Non-cash interest expense	1,162	1,162	1,229
Other non-cash items	170	397	356
Changes in assets and liabilities which provided/(used) cash, excluding effects from business acquisitions:
Accounts receivable, net of allowance	(6,193)	(127)	(23,246)
Inventories	4,781	11,366	(48,547)
Prepaid expenses and other current assets	(1,492)	709	(814)
Prepaid income taxes, income taxes receivable and income taxes payable	9,013	(12,349)	489
Accounts payable, accrued expenses and other current liabilities	13,062	(20,453)	30,333
Other non-current assets and liabilities	(253)	(474)	(2,952)
Cash provided by operating activities	158,512	120,075	90,779
Cash flows from investing activities:
Purchases of property, plant and equipment	(17,162)	(19,961)	(19,643)
Acquisition of businesses, net of cash acquired and working capital adjustments	(191,200)		(21,565)
Payment of contingent consideration related to acquisition of technology assets	0		(1,470)
Proceeds from sale of property, plant and equipment	173	69	137
Cash used in investing activities	(208,189)	(19,892)	(42,541)
Cash flows from financing activities:
Borrowings under revolving credit facilities	198,000		69,941
Repayments under term loan and revolving credit facilities	(131,066)	(86,552)	(59,029)
Payments of debt issuance costs	0		(2,492)
Payments of withholding taxes from share-based awards	(9,713)	(10,563)	(11,721)
Payments of contingent considerations related to acquisitions	0	(81)	(46,254)
Repurchases of common shares			(10,000)
Other financing activities	(278)	(657)	(599)
Cash provided by (used in) financing activities	56,943	(97,853)	(60,154)
Effect of exchange rates on cash and cash equivalents	1,672	2,616	(5,372)
Increase (decrease) in cash and cash equivalents	8,938	4,946	(17,288)
Cash and cash equivalents, beginning of year	105,051	100,105	117,393
Cash and cash equivalents, end of year	113,989	105,051	100,105
Supplemental disclosure of cash flow information:
Cash paid for interest	32,673	25,302	14,264
Cash paid for income taxes	21,152	36,903	20,291
Income tax refunds received	1,553	612	169
Supplemental disclosure of non-cash investing activities:
Accruals for capital expenditures	$ 2,529	$ 570	$ 1,681

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 64,087	$ 72,878	$ 74,051

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Rule 10b5-1 Trading Plans No officers or directors adopted , modified , and/or terminated a “Rule 10b5-1 trading agreement” or a “non-Rule 10b5-1 trading agreement,” as defined in Item 408 of Regulation S-K, during the three months ended December 31, 2024 .
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arr Modified Flag	false
Non-Rule 10b5-1 Arr Modified Flag	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management,

Cybersecurity Risk Management, Strategy and Governance	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Item 1C. Cybersecurity Cybersecurity Risk Management and Strategy We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. We design and assess our program based on various cybersecurity frameworks, such as the National Institute of Standards and Technology (“NIST”) as well as International Organization for Standardization (“ISO”) 27001. We use these cybersecurity frameworks and information security standards as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. Our cybersecurity risk management program is designed to be integrated into our overall risk management program, and shares common methodologies and governance processes across the risk management program. Key elements of our cybersecurity risk management program, include but are not limited, to the followings: • risk assessments designed to help identify material risks from cybersecurity threats to our critical systems and information; • a security team and an external service provider principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity threats and incidents; • the use of external service providers, where appropriate, to assess, test, or otherwise assist with aspects of our cybersecurity security processes; • cybersecurity awareness training for our employees, including incident response personnel and senior management, on a quarterly basis as part of the risk mitigation strategy; • quarterly testing of the effectiveness of the cybersecurity awareness training; • a cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; • a third-party risk management process for key service providers, based on our assessment of their criticality to our operations and respective risk profile, suppliers, and vendors; and • cybersecurity internal and external penetration testing. We face risks from cybersecurity threats that, if realized, are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. We have not experienced any incidents that have materially affected us, including our operations, business strategy, results of operations, or financial condition. Cybersecurity Governance The Board of Directors (the “Board”) recognizes the need for continually monitoring our information security risks and cybersecurity initiatives. The Audit Committee of our Board undertakes the primary oversight responsibility over our cybersecurity risks and information security controls. Management briefs the Audit Committee on information security matters at each quarterly meeting of the Audit Committee. In addition, management updates the Audit Committee regarding any potentially material cybersecurity incidents, if any, as well as any incidents with lesser potential impact. In addition to the role the Audit Committee plays in overseeing enterprise and cybersecurity risks, the Environmental, Social and Governance (“ESG”) Committee reviews and oversees our overall cybersecurity program, including its strategy and processes, and is updated by management on the status and development of the cybersecurity programs at each of the ESG Committee’s meetings. Both the Audit Committee and the ESG Committee report to the full Board regarding their activities, including those related to our cybersecurity risks and program. The full Board also receives briefings from management at least once a year on our cybersecurity risk management program. Board members receive presentations on cybersecurity topics presented by the Chief Information Officer (“CIO”) and Chief Information Security Officer (“CISO”). Our management team, including our IT management team, is responsible for assessing and managing our material risks from cybersecurity threats. The CISO/CIO oversees the overall cybersecurity risk management program, and the Deputy Chief Information Security Officer (“DCISO”) has the primary operational responsibilities over our cybersecurity program, including supervising both our internal cybersecurity personnel and our retained external cybersecurity consultants. The CISO, who is also our CIO, has over 23 years of experience managing global IT operations, including strategy, applications, infrastructure, information security, support and execution. The CISO/CIO holds a Master of Science degree in computer science and engineering (with a specialization in Information Assurance) and a Doctorate of Engineering Management/Systems Engineering degree. Our DCISO has served in various roles in information security for over 16 years and holds a Bachelor of Science degree in mathematics and computer science and a Master of Science degree in computer science. Our management team takes steps to stay informed about and monitor efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel, threat intelligence and other information obtained from governmental, public, or private sources, including external consultants engaged by us, and alerts and reports produced by security tools deployed in the information technology environment.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Our cybersecurity risk management program is designed to be integrated into our overall risk management program, and shares common methodologies and governance processes across the risk management program.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Cybersecurity Governance The Board of Directors (the “Board”) recognizes the need for continually monitoring our information security risks and cybersecurity initiatives. The Audit Committee of our Board undertakes the primary oversight responsibility over our cybersecurity risks and information security controls. Management briefs the Audit Committee on information security matters at each quarterly meeting of the Audit Committee. In addition, management updates the Audit Committee regarding any potentially material cybersecurity incidents, if any, as well as any incidents with lesser potential impact. In addition to the role the Audit Committee plays in overseeing enterprise and cybersecurity risks, the Environmental, Social and Governance (“ESG”) Committee reviews and oversees our overall cybersecurity program, including its strategy and processes, and is updated by management on the status and development of the cybersecurity programs at each of the ESG Committee’s meetings. Both the Audit Committee and the ESG Committee report to the full Board regarding their activities, including those related to our cybersecurity risks and program. The full Board also receives briefings from management at least once a year on our cybersecurity risk management program. Board members receive presentations on cybersecurity topics presented by the Chief Information Officer (“CIO”) and Chief Information Security Officer (“CISO”). Our management team, including our IT management team, is responsible for assessing and managing our material risks from cybersecurity threats. The CISO/CIO oversees the overall cybersecurity risk management program, and the Deputy Chief Information Security Officer (“DCISO”) has the primary operational responsibilities over our cybersecurity program, including supervising both our internal cybersecurity personnel and our retained external cybersecurity consultants. The CISO, who is also our CIO, has over 23 years of experience managing global IT operations, including strategy, applications, infrastructure, information security, support and execution. The CISO/CIO holds a Master of Science degree in computer science and engineering (with a specialization in Information Assurance) and a Doctorate of Engineering Management/Systems Engineering degree. Our DCISO has served in various roles in information security for over 16 years and holds a Bachelor of Science degree in mathematics and computer science and a Master of Science degree in computer science. Our management team takes steps to stay informed about and monitor efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel, threat intelligence and other information obtained from governmental, public, or private sources, including external consultants engaged by us, and alerts and reports produced by security tools deployed in the information technology environment.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Audit Committee of our Board undertakes the primary oversight responsibility over our cybersecurity risks and information security controls.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Management briefs the Audit Committee on information security matters at each quarterly meeting of the Audit Committee.
Cybersecurity Risk Role of Management [Text Block]	Our management team, including our IT management team, is responsible for assessing and managing our material risks from cybersecurity threats. The CISO/CIO oversees the overall cybersecurity risk management program, and the Deputy Chief Information Security Officer (“DCISO”) has the primary operational responsibilities over our cybersecurity program, including supervising both our internal cybersecurity personnel and our retained external cybersecurity consultants. The CISO, who is also our CIO, has over 23 years of experience managing global IT operations, including strategy, applications, infrastructure, information security, support and execution. The CISO/CIO holds a Master of Science degree in computer science and engineering (with a specialization in Information Assurance) and a Doctorate of Engineering Management/Systems Engineering degree. Our DCISO has served in various roles in information security for over 16 years and holds a Bachelor of Science degree in mathematics and computer science and a Master of Science degree in computer science. Our management team takes steps to stay informed about and monitor efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel, threat intelligence and other information obtained from governmental, public, or private sources, including external consultants engaged by us, and alerts and reports produced by security tools deployed in the information technology environment.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our management team, including our IT management team, is responsible for assessing and managing our material risks from cybersecurity threats. The CISO/CIO oversees the overall cybersecurity risk management program, and the Deputy Chief Information Security Officer (“DCISO”) has the primary operational responsibilities over our cybersecurity program, including supervising both our internal cybersecurity personnel and our retained external cybersecurity consultants.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	The CISO, who is also our CIO, has over 23 years of experience managing global IT operations, including strategy, applications, infrastructure, information security, support and execution. The CISO/CIO holds a Master of Science degree in computer science and engineering (with a specialization in Information Assurance) and a Doctorate of Engineering Management/Systems Engineering degree. Our DCISO has served in various roles in information security for over 16 years and holds a Bachelor of Science degree in mathematics and computer science and a Master of Science degree in computer science.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our management team takes steps to stay informed about and monitor efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel, threat intelligence and other information obtained from governmental, public, or private sources, including external consultants engaged by us, and alerts and reports produced by security tools deployed in the information technology environment.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Organization and Basis of Prese

Organization and Basis of Presentation	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Organization and Basis of Presentation	1. Organization and Basis of Presentation Novanta Inc. and its subsidiaries (collectively referred to as the “Company”, or “Novanta”) is a leading global supplier of core technology solutions that give medical and advanced industrial original equipment manufacturers (“OEMs”) 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 Novanta to engineer core components and sub-systems that deliver extreme precision and performance, tailored to the customers' demanding applications. Basis of Presentation The consolidated financial statements have been prepared by the Company in United States (“U.S.”) dollars and in accordance with accounting principles generally accepted in the U.S., applied on a consistent basis. These consolidated financial statements include the accounts of Novanta Inc. and its subsidiaries. Intercompany accounts and transactions have been eliminated.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Estimates and assumptions are reviewed on an on-going basis and the effects of revisions are reflected in the period in which such revisions are deemed to be necessary. The Company evaluates its estimates based on historical experience, current conditions, and various other assumptions that it believes are reasonable under the circumstances. Actual results could differ significantly from these estimates. Updated Segment Reporting Structure During the fourth quarter of 2024, the Company updated its organizational structure and re-aligned its financial reporting structure under two reportable segments: Automation Enabling Technologies and Medical Solutions. Prior to the reorganization, the Company's historical reportable segments were: Precision Medicine and Manufacturing, Robotics and Automation, and Medical Solutions. Prior period segment financial information has been recast to align with the new reportable segments . See Note 18 for segment results under the new reporting structure. Foreign Currency Translation The financial statements of the Company and its subsidiaries outside the U.S. have been translated into U.S. dollars. Assets and liabilities of foreign operations are translated from foreign currencies into U.S. dollars at the exchange rates in effect as of the balance sheet date. Revenue and expenses are translated at the weighted average exchange rates for the period. Accordingly, gains and losses resulting from translating foreign currency financial statements are reported as cumulative translation adjustments, a separate component of other comprehensive income (loss) in stockholders’ equity. Foreign currency transaction gains and losses from transactions denominated in currencies other than the functional currencies are included in the accompanying consolidated statements of operations. Cash Equivalents Cash equivalents are highly liquid investments with original maturities of three months or less. These investments are carried at cost, which approximates fair value. Accounts Receivable and Credit Losses Accounts receivable are recorded at the invoiced amounts, net of an allowance for doubtful accounts based on the Company’s best estimate of probable credit losses. The Company is exposed to credit losses primarily through sales of its products. The Company assesses each customer’s ability to pay by conducting a credit review which includes consideration of established credit rating or an internal assessment of the customer’s creditworthiness based on an analysis of their payment history when a credit rating is not available. The Company monitors its credit exposure through active review of customer balances. The Company’s expected loss methodology for accounts receivable is developed through consideration of factors including, but not limited to, historical collection experience, current customer credit ratings, current customer financial condition, current and future economic and market condition, and age of the receivables. Charges related to credit losses are included in selling, general and administrative expenses and are recorded in the period that the outstanding receivables are determined to be uncollectible. Account balances are charged off against the allowance for doubtful accounts when the Company believes it is certain that the receivable will not be recovered. For the years ended December 31, 2024, 2023 and 2022, changes in the allowance for doubtful accounts were as follows (in thousands): 2024 2023 2022 Balance at beginning of year $ 571 $ 995 $ 556 Addition to credit loss expense 223 175 532 Write-offs, net of recoveries of amounts previously reserved ( 288 ) ( 612 ) ( 92 ) Exchange rate changes ( 1 ) 13 ( 1 ) Balance at end of year $ 505 $ 571 $ 995 Inventories Inventories, which include materials and conversion costs, are stated at the lower of cost or net realizable value, using the first-in, first-out method. Cost includes the cost of purchased materials, inbound freight charges, customs duties, trade tariffs on imported materials and components, external and internal processing and applicable labor and overhead costs. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, storage, disposal and transportation. The Company periodically reviews inventory for potential excess or obsolescence by comparing on-hand quantities to the forecasted product demand and production requirements or trailing historical usage of each product. The Company records a charge to cost of revenue for the amount required to reduce the carrying value of inventories to their net realizable value. Property, Plant and Equipment Property, plant and equipment are recorded at cost, adjusted for any impairment, less accumulated depreciation. The Company uses the straight-line method to calculate the depreciation of its property, plant and equipment over their estimated useful lives. Estimated useful lives range from 10 to 40 years for buildings and building improvements, and 3 to 10 years for machinery and equipment. Leasehold improvements are depreciated over the lesser of their useful lives or the lease terms, including any renewal period options that are reasonably assured of being exercised. Repairs and maintenance costs are expensed as incurred. Certain costs to develop software for internal use are capitalized when the criteria under Accounting Standards Codification (“ASC”) 350-40, “Internal-Use Software,” are met. Goodwill, Intangible Assets and Long-Lived Assets Goodwill represents the excess of the purchase price over the tangible assets, identifiable intangible assets and assumed liabilities acquired in a business combination. Allocations of the purchase price are based upon a valuation of the fair value of assets acquired and liabilities assumed as of the acquisition date. Goodwill and indefinite-lived intangibles are not amortized but are assessed for impairment at least annually to ensure their current fair values exceed their carrying values. The Company’s most significant identifiable intangible assets are customer relationships, patents and developed technologies, trademarks and trade names. The fair values of identifiable intangible assets are based on valuations using an income approach, with estimates and assumptions provided by management of the acquired companies and the Company. The process for estimating the fair values of identifiable intangible assets requires the use of significant estimates and assumptions, including revenue growth rates, customer attrition rates, royalty rates, discount rates and projected future cash flows. All definite-lived intangible assets are amortized over the periods in which their economic benefits are expected to be realized. The Company reviews the useful life assumptions, including the classification of certain identifiable intangible assets as “indefinite-lived,” on a periodic basis to determine if changes in circumstances warrant revisions to them. Costs associated with patent and intellectual property applications, renewals or extensions are typically expensed as incurred. The Company evaluates its goodwill, intangible assets and other long-lived assets for impairment at the reporting unit level which is at least one level below the reportable segments. Impairment Charges Impairment analyses of goodwill and indefinite-lived intangible assets are conducted in accordance with ASC 350, “Intangibles — Goodwill and Other.” The Company performs its goodwill impairment test annually at a reporting unit level, which is generally at least one level below a reportable segment, as of the beginning of the second quarter or more frequently if indicators are present or changes in circumstances suggest that an impairment may exist. The Company has the option of first performing a qualitative assessment to determine whether it is necessary to perform the quantitative impairment test. In performing the qualitative assessment, the Company reviews factors both specific to the reporting unit and to the Company as a whole, such as financial performance, macroeconomic conditions, industry and market considerations, and the fair value of each reporting unit as of the last valuation date. If the Company elects this option and believes, as a result of the qualitative assessment, that it is more likely than not that the carrying value of the reporting unit exceeds its fair value, the quantitative impairment test is required; otherwise, no further testing is required. Alternatively, the Company may elect to bypass the qualitative assessment and perform the quantitative impairment test instead. This approach requires a comparison of the carrying value of each reporting unit to its estimated fair value. The fair value of a reporting unit is estimated primarily using a discounted cash flow (“DCF”) method. If the carrying value of a reporting unit exceeds its fair value, an impairment charge is recorded for the difference. The Company assesses indefinite-lived intangible assets for impairment on an annual basis as of the beginning of the second quarter, and more frequently if indicators are present, or changes in circumstances suggest, that an impairment may exist. The Company will also reassess the continuing classification of these intangible assets as indefinite-lived when circumstances change such that the useful life may no longer be considered indefinite. The fair values of the Company’s indefinite-lived intangible assets are determined using the relief from royalty method, based on forecasted revenues and estimated royalty rates. If the fair value of an indefinite-lived intangible asset is less than its carrying value, an impairment charge is recorded for the difference between the carrying value and the fair value of the impaired asset. The carrying amounts of definite-lived long-lived assets are reviewed for impairment whenever changes in events or circumstances indicate that their carrying values may not be recoverable. The recoverability of the carrying value is generally determined by comparison of the carrying value of the asset group to its undiscounted future cash flows. When this test indicates a potential for impairment, a fair value assessment is performed. Once an impairment is determined and measured, an impairment charge is recorded for the difference between the carrying value and the fair value of the impaired asset. Revenue Recognition See Note 3 for the Company’s revenue recognition policy. Leases The Company leases certain equipment and facilities. The Company determines if an arrangement is a lease at inception. Operating lease right-of-use assets are included in operating lease assets on the consolidated balance sheet. Operating lease liabilities are included in the current portion of operating lease liabilities and operating lease liabilities on the consolidated balance sheet based on the timing of future lease payments. Finance lease assets are included in property, plant and equipment. Finance lease liabilities are included in accrued expenses and other current liabilities and other liabilities on the consolidated balance sheet based on the timing of future lease payments. Leases with an initial term of twelve months or less are not recognized on the balance sheet. The Company recognizes lease expense on a straight-line basis over the lease term. Many of the Company’s lease arrangements include both lease (e.g., fixed payments including rent) and non-lease components (e.g., common-area maintenance or other property management costs). The Company accounts for lease and non-lease components separately. Most leases held by the Company do not provide an implicit rate. The Company determines the present value of future lease payments using its incremental borrowing rate for the same jurisdiction and term as the associated lease based on the information available at the lease commencement date. The Company has a centrally managed treasury function; therefore, the Company applies a portfolio approach for determining the incremental borrowing rate based on the applicable lease terms and the current economic environment. Research and Development and Engineering Costs Research and development and engineering (“R&D”) expenses are primarily comprised of employee related expenses and cost of materials for R&D projects. These costs are expensed as incurred. Share-Based Compensation The Company records expenses associated with share-based compensation awards to employees and directors based on the fair value of awards as of the grant date. For share-based compensation awards that vest over time based on employment or service, the associated expenses are based on the closing market price of the Company’s common shares on the date of grant and are recognized in the consolidated statements of operations ratably over the respective vesting periods, net of estimated forfeitures. The Company also grants share-based awards that vest based on employment and certain specified company performance conditions, market conditions or a hybrid of specified company performance conditions and market conditions. Share-based compensation expenses for awards with specified company performance conditions are based on the closing market price of the Company’s common shares on the date of grant and are recognized ratably over their vesting periods when it is probable that the performance targets are expected to be achieved based on management’s projections. Management’s projections are revised, if necessary, in subsequent periods when underlying factors change the evaluation of the probability of achieving the performance targets as well as the estimated levels of achievement. When the estimated achievement levels are adjusted at a later date, a cumulative adjustment to the share-based compensation expense previously recognized would be recorded in the period such determination is made. Accordingly, share-based compensation expenses for awards with specified company performance conditions may differ significantly from period to period based on changes to both the probability and the level of achievement against the performance targets. Share-based compensation expenses for awards with market conditions are based on the grant-date fair value, determined using the Monte-Carlo valuation model, and are recognized on a straight-line basis from the grant date to the end of the performance period. Compensation expenses for awards with market conditions will not be affected by the number of common shares that will ultimately be issued upon vesting at the end of the performance period. Share-based compensation expenses for awards with a hybrid of specified company performance conditions and market conditions are based on the grant-date fair value, determined using the Monte-Carlo valuation model, and are recognized ratably over their vesting periods when it is probable that the performance targets are expected to be achieved based on management’s projections. Management’s projections are revised, if necessary, in subsequent periods when underlying factors change the evaluation of the probability and the level of achieving the specified company performance targets. When the estimated achievement levels are adjusted at a later date, a cumulative adjustment to the share-based compensation expense previously recognized would be recorded in the period such determination is made. Accordingly, share-based compensation expenses for awards with hybrid conditions may differ significantly from period to period based on changes to both the probability and the level of achievement against the specified company performance targets. The Company also grants stock options to certain members of the executive management team to purchase common shares of the Company at a strike price equal to the closing market price of the Company’s common shares on the date of grant. Stock options typically vest over time based on employment. Share-based compensation expenses associated with stock options are based on the grant-date fair value, determined using the Black-Scholes option pricing model, and are recognized on a straight-line basis ratably over the respective vesting period. Advertising Costs Advertising costs are expensed as incurred and are included in selling, general and administrative expenses in the consolidated statement of operations. Advertising costs were not material for the years ended December 31, 2024, 2023 and 2022 . Restructuring, Acquisition and Related Costs The Company accounts for its restructuring activities in accordance with the provisions of ASC 420, “Exit or Disposal Cost Obligations.” The Company makes assumptions related to the amounts of employee severance benefits and related costs, useful lives and residual value of long-lived assets, and discount rates. Estimates and assumptions are based on the best information available at the time the obligation is recognized. These estimates are reviewed and revised as facts and circumstances dictate. Acquisition related costs incurred to effect a business combination, including finders’ fees, legal, valuation and other professional or consulting fees, are expensed as incurred. Acquisition related costs also include expenses recognized under earn-out agreements in connection with acquisitions. Accounting for Income Taxes The asset and liability method is used to account for income taxes. Under the asset and liability method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. This method also requires the recognition of future tax benefits, such as net operating loss carryforwards, to the extent that it is more likely than not that such benefits will be realized. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the temporary differences are expected to be recovered or settled. A valuation allowance is established to reduce the deferred tax assets if it is more likely than not that some or all of the related tax benefits will not be realized in the future. Valuation allowances are reassessed periodically to determine whether it is more likely than not that the tax benefits will be realized in the future and if any existing valuation allowance should be released. The majority of the Company’s business activities are conducted through its subsidiaries outside of Canada. Earnings from these subsidiaries are generally indefinitely reinvested in the local businesses. Further, local laws and regulations may also restrict certain subsidiaries from paying dividends to their parents. Consequently, the Company generally does not accrue income taxes for the repatriation of such earnings in accordance with ASC 740, “Income Taxes.” To the extent that there are excess accumulated earnings that the Company intends to repatriate from any such subsidiaries, the Company recognizes deferred tax liabilities on such foreign earnings. The Company assesses its income tax positions and records tax benefits for all years subject to examination based on the evaluation of the facts, circumstances, and information available at each reporting date. For those tax positions with a greater than 50 percent likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information, the Company records a tax benefit. For those income tax positions that are not likely to be sustained, no tax benefit is recognized in the consolidated financial statements. The Company recognizes interest and penalties related to uncertain tax positions as part of the provision for income taxes. Foreign Currency Contracts The Company uses foreign currency contracts as a part of its strategy to limit its exposures to fluctuations in foreign currency exchange rates related to foreign currency denominated monetary assets and liabilities. The time duration of these foreign currency contracts approximates the underlying foreign currency transaction exposures, generally less than three months. These foreign currency contracts are not designated as cash flow, fair value or net investment hedges. Changes in the fair value of these foreign currency contracts are recognized in income before income taxes. Recent Accounting Pronouncements The following table provides a brief description of recent Accounting Standards Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”): Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters In October 2023, the FASB issued ASU 2023-06, “Disclosure Improvements: Codification Amendments in Response to SEC’s Disclosure Update and Simplification Initiative.” ASU 2023-06 clarifies or improves disclosure and presentation requirements of a variety of topics, which allow users to easily compare entities subject to the SEC’s existing disclosure requirements with those entities that were not previously subject to such requirements and align the requirements in the FASB Accounting Standards Codification with the SEC’s regulations. The effective date for each amendment in ASU 2023-06 will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company is currently evaluating the impact of ASU 2023-06 on its consolidated financial statement disclosures. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280)-Improvements to Reportable Segment Disclosures.” ASU 2023-07 clarifies or improves financial reporting by requiring disclosure of incremental segment information. The amendments require disclosure, on an annual and interim basis for all public entities, significant segment expenses included in segment profit or loss, an amount and description of “other segment items” included in segment profit or loss, and an explanation of how reported segment profit or loss is assessed and allocated. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted ASU 2023-07 beginning with its consolidated financial statement disclosures for the year ended December 31, 2024. See Note 18 “Segment Information” for additional information. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740) -Improvements to Income Tax Disclosures.” ASU 2023-09 provides more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid. The amendments in ASU 2023-09 are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2023-09 on its consolidated financial statement disclosures. In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” ASU 2024-03 improves financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at both interim and annual reporting periods. The amendments in ASU 2024-03 are effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of ASU 2024-03 on its consolidated financial statement disclosures.

Revenue

Revenue	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	3. Revenue The Company accounts for its revenue transactions in accordance with ASC 606, “Revenue from Contracts with Customers,” which requires entities to recognize revenue in a way that depicts the transfer of control over goods or services to customers at an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Revenue recognition for arrangements within the scope of ASC 606 includes the following five steps: (i) identifying the contract(s) with a customer; (ii) identifying the performance obligations in the contract; (iii) determining the transaction price; (iv) allocating the transaction price to the performance obligations in the contract; and (v) recognizing revenue when (or as) a performance obligation is satisfied. The Company recognizes revenue when control of promised goods or services is transferred to the customer. The transfer of control generally occurs upon shipment when title and risk of loss pass to the customer. The vast majority of the Company’s revenue is generated from the sale of distinct products. Revenue is measured as the amount of consideration the Company expects to receive in exchange for such products, which is generally at contractually stated prices. Sales taxes and value added taxes collected concurrently with revenue generating activities are excluded from revenue. Performance Obligations Substantially all of the Company’s revenue is recognized at a point in time, upon shipment, rather than over time. At the request of its customers, the Company may perform professional services, generally for the maintenance and repair of products previously sold to those customers and for engineering services. Professional services are typically short in duration, mostly less than one month , and aggregate to less than 3 % of the Company’s consolidated revenue. Revenue is typically recognized at a point in time when control transfers to the customer upon completion of professional services. These services generally involve a single distinct performance obligation. The consideration expected to be received in exchange for such services is normally the contractually stated amount. The Company occasionally sells separately priced non-standard/extended warranty services or preventative maintenance plans with the sale of products. The transfer of control over the service plans is over time. The Company recognizes the related revenue ratably over the terms of the service plans. The transaction price of a contract is allocated to each performance obligation based on its relative standalone selling price. Standalone selling prices are generally determined based on the prices charged to customers or using the expected cost plus a margin. Shipping and Handling Costs The Company accounts for shipping and handling activities that occur after the transfer of control over the related goods as fulfillment activities rather than performance obligations. The shipping and handling fees charged to customers are recognized as revenue and the related costs are recorded in cost of revenue at the time of transfer of control. Warranties The Company generally provides warranties for its products. The standard warranty period is typically 12 months to 36 months . The standard warranty period for product sales is accounted for under the provisions of ASC 450, “Contingencies,” as the Company has the ability to ascertain the likelihood of the liability and can reasonably estimate the amount of the liability. A provision for the estimated warranty cost is recorded in cost of revenue at the time revenue is recognized. The Company’s estimate of costs to service the warranty obligations is based on historical experience and expectations of future conditions. To the extent that the Company’s experience in warranty claims or costs associated with servicing those claims differ from the original estimates, revisions to the estimated warranty liability are recorded at that time, with an offsetting adjustment to cost of revenue. Practical Expedients and Exemptions The Company expenses incremental direct costs of obtaining a contract when incurred if the expected amortization period is one year or less. These costs are recorded within selling, general and administrative expenses in the consolidated statement of operations. The Company does not adjust the promised amount of consideration for the effects of a financing component because the time period between the transfer of a promised good to a customer and the customer’s payment for that good is typically one year or less. The Company does not disclose the value of the remaining performance obligation for contracts with an original expected length of one year or less. Contract Liabilities Contract liabilities consist of deferred revenue and advance payments from customers, including amounts that are refundable. These contract liabilities are classified as either current or long-term liabilities in the consolidated balance sheet based on the timing of when the Company expects to recognize the related revenue. As of December 31, 2024 and December 31, 2023 , contract liabilities were $ 5.9 million and $ 5.8 million, respectively, and are included in accrued expenses and other current liabilities and other liabilities in the accompanying consolidated balance sheets. The increase in the contract liability balance during the year ended December 31, 2024 is primarily due to cash payments received in advance of satisfying performance obligations, partially offset by $ 4.3 million of revenue recognized during the year that was included in the contract liability balance at December 31, 2023. Disaggregated Revenue See Note 18 for the Company’s disaggregation of revenue by geography and end market. The following table presents revenues disaggregated by the capabilities of the underlying products and technologies for the years ended December 31, 2024, 2023, and 2022, respectively (in thousands): Year Ended December 31, 2024 2023 2022 Precision Manufacturing $ 202,303 $ 225,750 $ 225,853 Robotics and Automation 288,317 273,470 308,237 Automation Enabling Technologies 490,620 499,220 534,090 Precision Medicine 249,872 178,840 144,018 Advanced Surgery 208,753 203,602 182,795 Medical Solutions 458,625 382,442 326,813 Total Revenue $ 949,245 $ 881,662 $ 860,903

Business Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2024
Business Combinations [Abstract]
Business Combinations	4. Business Combinations 2024 Acquisition On January 2, 2024 , the Company completed the acquisition of Motion Solutions Parent Corp. (“Motion Solutions”), an Irvine, California-based provider of highly engineered integrated solutions, specializing in proprietary precision motion and advanced motion control solutions, for a total purchase price of $ 192.0 million in cash, net of working capital adjustments. The acquisition was financed with borrowings under the Company’s revolving credit facility. The addition of Motion Solutions enhances the Company’s product portfolio and further expands its presence in attractive medical and precision medicine spaces. Motion Solutions is included in the Medical Solutions reportable segment. Allocation of Purchase Price The acquisition of Motion Solutions has been accounted for as a business combination. The purchase price is allocated based upon a valuation of the fair values of assets acquired and liabilities assumed. Assets acquired and liabilities assumed have been recorded at their estimated fair values as of the acquisition date. The excess of the purchase price over the fair values of the acquired tangible assets, identifiable intangible assets and assumed liabilities was recorded as goodwill. The fair values of identifiable intangible assets were based on valuations using an income approach, specifically the multi-period excess earnings method for customer relationships and the relief-from-royalty method for developed technologies. The process for estimating the fair values of identifiable intangible assets requires the use of significant estimates and assumptions, including revenue growth rates, customer attrition rates, royalty rates, discount rates, technology obsolescence curves, and EBITDA margins. The final purchase price fo r Motion Solutions was allocated as follows (in thousands): Purchase Price Allocation Cash $ 776 Accounts receivable 8,515 Inventory 13,940 Property, plant and equipment 3,126 Operating lease assets 8,076 Intangible assets 83,000 Goodwill 106,761 Other assets 1,002 Total assets acquired 225,196 Accounts payable 5,305 Operating lease liabilities 8,514 Deferred tax liabilities 18,171 Other liabilities 1,230 Total liabilities assumed 33,220 Total assets acquired, net of liabilities assumed 191,976 Less: cash acquired 776 Purchase price, net of cash acquired $ 191,200 The estimated purchase price allocation previously disclosed in the Form 10-Q for the period ended March 29, 2024 was revised during the second, third, and fourth quarter of 2024 as new information was received and analyzed, resulting in an increase in Inventory of $ 0.4 million, an increase in Intangible assets of $ 2.6 million, an increase in Other assets of $ 0.4 million, an increase in Deferred tax liabilities of $ 0.6 million, an increase in Other liabilities of $ 0.8 million and a decrease in Goodwill of $ 2.0 million. The fair value of intangible assets for Motion Solutions is comprised of the following: Estimated Fair Amortization Value Period Developed technologies $ 34,400 7 years Customer relationships 43,100 13 years Backlog 5,500 1 year Total $ 83,000 The purchase price allocation resulted in $ 83.0 million of identifiable intangible assets and $ 106.8 million of goodwill. As the Motion Solutions acquisition was structured as a stock acquisition for income tax purposes, the goodwill is not deductible. The goodwill recorded represents the anticipated incremental value of future cash flows potentially attributable to: (i) Motion Solution’s ability to grow the business with existing and new customers, including leveraging the Company’s customer base; (ii) Motion Solution’s ability to grow the business through new product introductions; and (iii) cost improvements due to the integration of Motion Solution’s operations into the Company’s existing infrastructure. The operating results of Motion Solutions were included in the Company’s results of operations beginning January 2, 2024. Motion Solutions contributed revenues o f $ 82.4 million and an income before income taxes of $ 0.2 million t o the Company’s operating results for the twelve months ended December 31, 2024. The loss before income taxes from Motion Solutions for the period from the acquisition date through December 31, 2024 included amortization of inventory fair value adjustments of $ 2.8 million and amortization of purchased intangible assets of $ 13.0 million. Unaudited Pro Forma Information The pro forma information for all periods presented below includes the effect of business combination accounting resulting from the acquisition of Motion Solutions, including amortization of inventory fair value adjustments, amortization of intangible assets, interest expense on borrowings in connection with the acquisition, and the related tax effects, assuming that the acquisition had been consummated as of January 1, 2023. The pro forma financial information is presented for comparative purposes only and is not necessarily indicative of the results of operations that actually would have been achieved if the acquisition had taken place on January 1, 2023. Year Ended December 31, December 31, 2024 2023 Revenue $ 949,245 $ 966,655 Net income $ 66,495 $ 58,169 2022 Acquisition On August 11, 2022 , the Company acquired 100 % of the outstanding shares of MPH Medical Devices S.R.O. ( “MPH” ), a Czech Republic-based manufacturer of medical consumables with plastics specialization in making medical disposable tube set products, for a total purchase price of € 21.8 million ($ 22.4 million), net of cash acquired. The acquisition was financed with borrowings under the Company's revolving credit facility and cash available on hand. The addition of MPH has expanded the Company's capacity and capabilities in the medical disposable tube set products within the Medical Solutions reportable segment. The acquisition of MPH has been accounted for as a business combination. The purchase price is allocated based upon a valuation of the fair values of assets acquired and liabilities assumed as of the acquisition date. The fair value of the real property were based on valuations using an income and cost approach, specifically the direct capitalization method and the replacement value approaches. These approaches are subject to key assumptions including market rent estimates, capitalization rates, local multipliers and remaining useful life. The sales comparison approach was not considered due to the limited data available on comparable properties. The total purchase price for MPH was allocated as follows (in thousands): Purchase Price Allocation Cash $ 182 Accounts receivable 1,658 Inventories 957 Property, plant and equipment 12,094 Goodwill 9,863 Other assets 163 Total assets acquired 24,917 Accounts payable 562 Deferred tax liabilities 1,124 Other liabilities 664 Total liabilities assumed 2,350 Total assets acquired, net of liabilities assumed 22,567 Less: cash acquired 182 Total purchase price, net of cash acquired $ 22,385 The purchase price allocation resulted in $ 9.9 million of goodwill. As the MPH acquisition was structured as a stock acquisition, the goodwill is not deductible for income tax purposes. The goodwill recorded represents the anticipated future benefits from the expansion of the Company's manufacturing capacity and capabilities for the medical disposal tube set products. The operating results of MPH were included in the Company’s results of operations beginning on August 12, 2022. MPH contributed revenues of $ 5.2 million and a profit before income taxes of $ 0.4 million for the year ended December 31, 2022. Acquisition Costs Acquisition costs are included in restructuring and acquisition related costs in the consolidated statements of operations. Acquisition-related costs were $ 1.0 m illion, zero , and $ 1.0 million for the years ended December 31, 2024, 2023, and 2022 , respectively, related to the acquisitions that occurred during those years, if any.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	5. Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss for the years ended December 31, 2024, 2023, and 2022, respectively, were as follows (in thousands): Total Accumulated Other Cumulative Pension Comprehensive Translation Liability Income (Loss) Adjustments Adjustments Balance at December 31, 2021 $ ( 12,866 ) $ ( 5,753 ) $ ( 7,113 ) Other comprehensive income (loss) ( 19,555 ) ( 18,674 ) ( 881 ) Amounts reclassified from accumulated other comprehensive loss (1) 412 — 412 Balance at December 31, 2022 ( 32,009 ) ( 24,427 ) ( 7,582 ) Other comprehensive income (loss) 6,951 7,823 ( 872 ) Amounts reclassified from accumulated other comprehensive loss (1) 1,020 — 1,020 Balance at December 31, 2023 ( 24,038 ) ( 16,604 ) ( 7,434 ) Other comprehensive income (loss) ( 6,764 ) ( 7,082 ) 318 Amounts reclassified from accumulated other comprehensive loss (1) 881 — 881 Balance at December 31, 2024 $ ( 29,921 ) $ ( 23,686 ) $ ( 6,235 ) (1) The amounts reclassified from accumulated other comprehensive loss were included in other income (expense) in the consolidated statements of operations.

Goodwill, Intangible Assets and

Goodwill, Intangible Assets and Impairment Charges	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Intangible Assets and Impairment Charges	6. Goodwill, Intangible Assets and Impairment Charges Goodwill The following table summarizes changes in goodwill during the year ended December 31, 2024 (in thousands): Amount Balance at beginning of year $ 484,507 Goodwill from current year acquisitions 106,761 Effect of foreign exchange rate changes ( 7,170 ) Balance at end of year $ 584,098 Goodwill by reportable segment as of December 31, 2024 was as follows (in thousands): Reportable Segment Automation Enabling Technologies Medical Solutions Total Goodwill $ 439,980 $ 295,347 $ 735,327 Accumulated impairment of goodwill ( 119,507 ) ( 31,722 ) ( 151,229 ) Total $ 320,473 $ 263,625 $ 584,098 Goodwill by reportable segment as of December 31, 2023 was as follows (in thousands): Reportable Segment Automation Enabling Technologies Medical Solutions Total Goodwill $ 433,525 $ 202,211 $ 635,736 Accumulated impairment of goodwill ( 119,507 ) ( 31,722 ) ( 151,229 ) Total $ 314,018 $ 170,489 $ 484,507 The segment change discussed in Note 2, impacted the composition of the Company's reporting units, which resulted in a reallocation of goodwill between the Automation Enabling Technologies and Medical Solutions segments. The Company allocated $ 9.4 million and $ 22.7 million to the Automation Enabling Technologies segment and the Medical Solutions segment, respectively, based on the estimated relative fair values of the reporting units. The Company also assessed goodwill for impairment for the reporting units both before and after the reallocation and determined that there was no impairment. Intangible Assets Intangible assets as of December 31, 2024 and 2023, respectively, are summarized as follows (dollar amounts in thousands): December 31, 2024 Gross Carrying Accumulated Net Carrying Weighted Average Remaining Life (Years) Amortizable intangible assets: Patents and developed technologies $ 218,867 $ ( 159,041 ) $ 59,826 7.6 Customer relationships 265,156 ( 158,938 ) 106,218 13.2 Trademarks and trade names 23,367 ( 16,594 ) 6,773 9.2 Amortizable intangible assets 507,390 ( 334,573 ) 172,817 11.1 Non-amortizable intangible assets: Trade names 13,027 — 13,027 Total $ 520,417 $ ( 334,573 ) $ 185,844 December 31, 2023 Gross Carrying Accumulated Net Carrying Weighted Average Remaining Life (Years) Amortizable intangible assets: Patents and developed technologies $ 187,092 $ ( 146,342 ) $ 40,750 9.6 Customer relationships 225,183 ( 142,478 ) 82,705 14.4 Trademarks and trade names 23,628 ( 15,088 ) 8,540 9.5 Amortizable intangible assets 435,903 ( 303,908 ) 131,995 12.6 Non-amortizable intangible assets: Trade names 13,027 — 13,027 Total $ 448,930 $ ( 303,908 ) $ 145,022 All definite-lived intangible assets are amortized either on a straight-line basis or an economic benefit basis over their remaining estimated useful life. Amortization expense for patents and developed technologies is included in cost of revenue in the accompanying consolidated statements of operations. Amortization expense for customer relationships and definite-lived trademarks, trade names and other intangibles is included in operating expenses in the accompanying consolidated statements of operations. Amortization expense for the periods presented was as follows (in thousands): Year Ended December 31, 2024 2023 2022 Amortization expense – cost of revenue $ 14,773 $ 12,150 $ 13,270 Amortization expense – operating expenses 25,794 20,445 26,338 Total amortization expense $ 40,567 $ 32,595 $ 39,608 Estimated future amortization expense for each of the five succeeding years and thereafter is as follows (in thousands): Year Ending December 31, Cost of Operating Total 2025 $ 14,222 $ 22,173 $ 36,395 2026 13,384 19,880 33,264 2027 10,568 15,768 26,336 2028 8,837 12,697 21,534 2029 6,064 9,148 15,212 Thereafter 6,751 33,325 40,076 Total $ 59,826 $ 112,991 $ 172,817 Impairment Charges The Company did no t have any goodwill or indefinite-lived intangible asset impairment charges during the years ended December 31, 2024, 2023, or 2022 .

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	7. Fair Value Measurements ASC 820, “Fair Value Measurement,” establishes a fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the third is considered unobservable: Level 1: Quoted prices for identical assets or liabilities in active markets which the Company can access Level 2: Observable inputs other than those described in Level 1 Level 3: Unobservable inputs Current Assets and Liabilities The Company’s cash equivalents are highly liquid investments with original maturities of three months or less, which represent assets the Company measures at fair value on a recurring basis. The Company determines the fair value of cash equivalents using a market approach based on quoted prices in active markets. The fair values of cash equivalents, accounts receivable, income taxes receivable, accounts payable, income taxes payable and accrued expenses and other current liabilities approximate their carrying values because of their short-term nature. Foreign Currency Contracts The Company addresses market risks from changes in foreign currency exchange rates through a risk management program that includes the use of derivative financial instruments to mitigate certain balance sheet foreign currency transaction exposures. The Company uses foreign currency forward contracts as a part of its strategy to manage exposures related to foreign currency denominated monetary assets and liabilities. The following table summarizes the fair values of the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 (in thousands): Fair Value Quoted Price in Significant Other Significant Other Assets Prepaid expenses and other current assets: Foreign currency forward contracts $ 1,226 $ — $ 1,226 $ — $ 1,226 $ — $ 1,226 $ — Liabilities Accrued expenses and other current liabilities: Contingent considerations - Current $ 57 $ — $ — $ 57 Foreign currency forward contracts 1,401 — 1,401 — $ 1,458 $ — $ 1,401 $ 57 The following table summarizes the fair values of the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 (in thousands): Fair Value Quoted Price in Significant Other Significant Other Assets Cash equivalents $ 1,392 $ 1,392 $ — $ — Prepaid expenses and other current assets: Foreign currency forward contracts 379 — 379 — $ 1,771 $ 1,392 $ 379 $ — Liabilities Accrued expenses and other current liabilities: Contingent considerations - Current $ 48 $ — $ — $ 48 Foreign currency forward contracts 312 — 312 — Other liabilities: Contingent considerations - Long-term 311 — — 311 $ 671 $ — $ 312 $ 359 During the years ended December 31, 2024 and 2023, there were no transfers between fair value levels. See Note 11 for a discussion of the estimated fair value of the Company’s outstanding debt and Note 14 for a discussion of the estimated fair value of the Company’s pension plan assets.

Foreign Currency Contracts

Foreign Currency Contracts	12 Months Ended
	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Foreign Currency Contracts	8. Foreign Currency Contracts The Company addresses market risks from changes in foreign currency exchange rates through a risk management program that includes the use of derivative financial instruments to mitigate certain foreign currency transaction exposures from future settlement of non-functional currency monetary assets and liabilities as of the end of a period. The Company does not enter into derivative transactions for speculative purposes. Gains and losses on derivative financial instruments substantially offset losses and gains on the underlying hedged exposures. Furthermore, the Company manages its exposure to counterparty risks on derivative instruments by entering into contracts with a diversified group of major financial institutions and by actively monitoring outstanding positions. As of December 31, 2024, the notional amount and fair value of the Company’s foreign currency forward contracts was $ 187.4 million and a net loss of $ 0.2 million, respectively. As of December 31, 2023 , the notional amount and fair value of the Company’s foreign currency forward contracts was $ 172.3 million and a net gain of $ 0.1 million, respectively. For the years ended December 31, 2024, 2023 and 2022 , the Company recognized aggregate net gain of $ 4.9 million, net gain of $ 2.5 million, and net loss of $( 2.4 ) million, respectively, from the settlement of foreign currency forward contracts, which were included in foreign exchange transaction gains (losses) in the consolidated statements of operations.

Earnings per Common Share

Earnings per Common Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Earnings per Common Share	9. Earnings per Common Share Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding during the year. Fully vested restricted stock units and deferred stock units granted to members of the Company’s Board of Directors are included in the calculation of weighted average number of common shares outstanding. For diluted earnings per common share, the denominator includes the dilutive effect of outstanding common share equivalents. The dilutive effects of outstanding common share equivalents, including outstanding service-based restricted stock units, stock options and performance-based restricted stock units, are determined using the treasury stock method. Performance-based restricted stock units are considered contingently issuable shares, the vesting of which may be based on achievement of specified company financial performance metrics (“attainment-based PSUs”), certain market conditions (“market-based PSUs”) or a hybrid of company financial performance metrics and market conditions (“hybrid PSUs”). The dilutive effects of market-based PSUs are included in the weighted average common share calculation based on the number of shares, if any, that would be issuable as of the end of the reporting period, assuming the end of the reporting period is also the end of the performance period. The dilutive effects of attainment-based and hybrid PSUs are included in the weighted average common share calculation based on the cumulative achievement against the performance targets only when the performance targets have been achieved as of the end of the reporting period. The following table sets forth the computation of basic and diluted earnings per common share (in thousands, except per share amounts): Year Ended December 31, 2024 2023 2022 Numerators: Net income $ 64,087 $ 72,878 $ 74,051 Denominators: Weighted average common shares outstanding— basic 35,950 35,844 35,652 Dilutive potential common shares 174 187 257 Weighted average common shares outstanding— diluted 36,124 36,031 35,909 Antidilutive potential common shares excluded from above 128 99 91 Earnings per Common Share: Basic $ 1.78 $ 2.03 $ 2.08 Diluted $ 1.77 $ 2.02 $ 2.06 For the years ended December 31, 2024 and 2023, 150 thousand shares and 104 thousand shares, respectively, of attainment-based PSUs and hybrid PSUs were excluded from the calculation of the denominator because they were considered contingently issuable shares and the related performance targets had not been achieved as of December 31, 2024 and December 31, 2023. For the year ended December 31, 2022 , 99 thousand shares of attainment-based PSUs were excluded from the calculation of the denominator because they were considered contingently issuable shares and the related performance targets had not been achieved as of December 31, 2022 .

Supplementary Balance Sheet Inf

Supplementary Balance Sheet Information	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplementary Balance Sheet Information	10. Supplementary Balance Sheet Information The following tables provide the details of selected balance sheet items as of the dates indicated (in thousands): Inventories December 31, 2024 2023 Raw materials $ 92,198 $ 104,643 Work-in-process 24,719 21,010 Finished goods 27,327 23,311 Demo and consigned inventory 362 407 Total inventories $ 144,606 $ 149,371 Property, Plant and Equipment, Net December 31, 2024 2023 Cost: Land, buildings and improvements $ 99,217 $ 95,020 Machinery and equipment 125,694 117,487 Total cost 224,911 212,507 Accumulated depreciation ( 111,776 ) ( 103,058 ) Property, plant and equipment, net $ 113,135 $ 109,449 The following table summarizes depreciation expense on property, plant and equipment, including demo units and assets under finance leases (in thousands): Year Ended December 31, 2024 2023 2022 Depreciation expense $ 14,996 $ 14,017 $ 13,550 Accrued Expenses and Other Current Liabilities The following table summarizes accrued expenses and other current liabilities as of the dates indicated (in thousands): December 31, 2024 2023 Accrued compensation and benefits $ 28,361 $ 32,703 Finance lease obligations 759 718 Contract liabilities, current portion 5,715 5,553 Accrued warranty 4,805 5,292 Other 20,691 16,790 Total $ 60,331 $ 61,056 Accrued Warranty The following table summarizes changes in accrued warranty for the periods indicated (in thousands): Year Ended December 31, 2024 2023 2022 Balance at beginning of year $ 5,292 $ 5,127 $ 4,783 Provision charged to cost of revenue 1,140 2,445 3,071 Warranty liabilities acquired from acquisitions 76 — — Use of provision ( 1,680 ) ( 2,338 ) ( 2,615 ) Foreign currency exchange rate changes ( 23 ) 58 ( 112 ) Balance at end of year $ 4,805 $ 5,292 $ 5,127 Other Long-term Liabilities The following table summarizes other long-term liabilities as of the dates indicated (in thousands): December 31, 2024 2023 Finance lease obligations $ 3,175 $ 3,934 Accrued contingent considerations and earn-outs — 311 Other 1,316 1,687 Total $ 4,491 $ 5,932

Debt

Debt	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	11. Debt Debt consisted of the following (in thousands): December 31, 2024 2023 Senior Credit Facilities – term loan $ 4,710 $ 4,994 Less: unamortized debt issuance costs ( 19 ) ( 26 ) Total current portion of long-term debt 4,691 4,968 Senior Credit Facilities – term loan 65,698 74,655 Senior Credit Facilities – revolving credit facility 348,751 278,404 Less: unamortized debt issuance costs ( 2,500 ) ( 3,655 ) Total long-term debt 411,949 349,404 Total Senior Credit Facilities $ 416,640 $ 354,372 Senior Credit Facilities On December 31, 2019, the Company entered into an amended and restated credit agreement (the “Third Amended and Restated Credit Agreement”) with existing lenders for an aggregate credit facility of $ 450.0 million, consisting of a $ 100.0 million U.S. dollar equivalent euro-denominated (approximately € 90.2 million) 5 -year term loan facility and a $ 350.0 million 5 -year revolving credit facility (collectively, the “Senior Credit Facilities”). The Third Amended and Restated Credit Agreement had an original maturity date of December 31, 2024. On March 27, 2020, the Company entered into an amendment (the “First Amendment”) to the Third Amended and Restated Credit Agreement and exercised a portion of the uncommitted accordion option. The First Amendment increased the revolving credit facility commitment by $ 145.0 million, from $ 350.0 million to $ 495.0 million, and reset the uncommitted accordion option to $ 200.0 million for potential future expansion. On October 5, 2021, the Company entered into an amendment (the “Fourth Amendment”) to the Third Amended and Restated Credit Agreement to exercise the accordion option. The Fourth Amendment increased the revolving credit facility commitment by $ 200.0 million, from $ 495.0 million to $ 695.0 million, and reset the uncommitted accordion option to $ 200.0 million for potential future expansion. On March 10, 2022, the Company entered into an amendment (the “Fifth Amendment” ) to the Third Amended and Restated Credit Agreement to extend the maturity date from December 31, 2024 to March 10, 2027, update the pricing grid, replace LIBOR with SOFR as the reference rate for U.S. dollar borrowings, and increase the uncommitted accordion option from $ 200.0 million to $ 350.0 million. The borrowings outstanding under the Senior Credit Facilities bear interest at rates based on (a) the Base Rate, as defined in the Third Amended and Restated Credit Agreement, plus a margin ranging between 0.00 % to 0.75 % per annum, determined by reference to the Company’s consolidated leverage ratio, or (b) the Term SOFR Screen Rate, the Alternative Currency Daily Rate or the Alternative Currency Term Rate, as defined in the Third Amended and Restated Credit Agreement, plus a margin ranging between 0.75 % and 1.75 % per annum, determined by reference to the Company’s consolidated leverage ratio. In addition, the Company is obligated to pay a commitment fee on the unused portion of the revolving credit facility, ranging between 0.20 % and 0.30 % per annum, determined by reference to the Company’s consolidated leverage ratio. The Third Amended and Restated Credit Agreement contains various customary representations, warranties and covenants applicable to the Company and its subsidiaries, including, among others: (i) limitations on restricted payments, including dividend payments and stock repurchases, provided that the Company and its subsidiaries may repurchase their equity interests so long as, immediately after giving effect to the repurchase, the Company’s consolidated leverage ratio is no more than 3.25 :1.00, with a step up to 3.75 :1.00 for four consecutive quarters following an acquisition with an aggregate consideration greater than or equal to $ 50.0 million, and the satisfaction of certain other customary conditions; (ii) limitations on fundamental changes involving the Company and its subsidiaries; (iii) limitations on the disposition of assets; and (iv) limitations on indebtedness, investments, and liens. The Third Amended and Restated Credit Agreement also requires the Company to satisfy certain financial covenants, such as maintaining a minimum consolidated fixed charge coverage ratio of 1.50 :1.00 and a maximum consolidated leverage ratio of 3.50 :1.00. The maximum consolidated leverage ratio will increase to 4.00 :1.00 for four consecutive quarters following an acquisition with an aggregate consideration greater than or equal to $ 50.0 million . The outstanding principal balance under the term loan facility is payable in quarterly installments of € 1.1 million that began in March 2020, with the remaining balance due upon maturity. The Company may make additional principal payments at any time, which will reduce the next quarterly installment payment due. Borrowings under the revolving credit facility may be repaid at any time through March 2027 . As of December 31, 2024, the outstanding principal under the Company’s term loan facility is scheduled to be repaid as follows (in thousands): Principal Amount 2025 $ 4,710 2026 4,710 2027 60,988 Total debt repayments $ 70,408 The Company may be required to prepay outstanding loans under the Third Amended and Restated Credit Agreement with the net proceeds from certain asset dispositions and incurrence of certain debt. At the election of the Company, and so long as no default shall have occurred, the Company may reinvest all, or any portion, of the net proceeds from such asset dispositions or incurrence of debt within a year. As of December 31, 2024, the Company had $ 346.2 million additional borrowing capacity available under the revolving credit facility. Excluding commitment fees under the revolving credit facility, the weighted average interest rate for the Senior Credit Facilities was approximately 5.62 % as of December 31, 2024. The commitment fee rate for the unused commitments under the revolving credit facility was approximately 0.28 % as of December 31, 2024. Guarantees The Senior Credit Facilities are guaranteed by Novanta Inc., Novanta Corporation, NDS Surgical Imaging LLC, Novanta Medical Technologies Corp., W.O.M. World of Medicine USA, Inc., Novanta Europe GmbH, Novanta U.K. Investments Holding Limited, Novanta Technologies U.K. Limited, ATI Industrial Automation, Inc., ATI Industrial Mexico, LLC, and Motion Solutions Parent Corp. (collectively, “Guarantors”). Each Guarantor, jointly and severally, unconditionally guarantees the due and punctual payment of the principal, interest and fees under the Senior Credit Facilities, when due and payable, whether at maturity, by required prepayment, by acceleration or otherwise. In addition, Guarantors guarantee the due and punctual payment, fees and interest on the overdue principal of the Senior Credit Facilities and the due and punctual performance of all obligations of the Company in accordance with the terms of the Third Amended and Restated Credit Agreement. Furthermore, each Guarantor, jointly and severally, unconditionally guarantees that in the event of any extension, renewal, amendment, refinancing or modification of any of the Senior Credit Facilities, amounts due will be promptly paid in full when due in accordance with the terms of the extension or renewal, at stated maturity, by acceleration or otherwise. The obligations of each Guarantor are limited to the maximum amount, after giving effect to all other contingent and fixed liabilities or any collections from, or payments made by or on behalf of, any other Guarantor. Each Guarantor that makes a payment or distribution under a Guarantee is entitled to a contribution from each other Guarantor of its pro rata share based on the adjusted net assets of each Guarantor. If at any time any payment of any of the obligations of the Guarantors is rescinded or must otherwise be returned upon the insolvency, bankruptcy or reorganization of the Company, a Guarantor or otherwise, the Guarantees will continue to be effective or be reinstated, as the case may be, as though such payment had not been made. Each Guarantor may be released from its obligations under its respective Guarantee and its obligations under the Third Amended and Restated Credit Agreement upon the occurrence of certain events, including, but not limited to: (i) the Guarantor ceasing to be a subsidiary; or (ii) payment in full of the principal and accrued and unpaid interest on the Senior Credit Facilities and all other obligations. The maximum potential amount of future payments that the Guarantors could be required to make under the Guarantee is the principal amount of the Senior Credit Facilities plus all accrued and unpaid interest thereon. However, as of December 31, 2024, the Guarantors were not expected to be required to perform under the Guarantee. Liens The Company’s obligations under the Senior Credit Facilities are secured, on a senior basis, by a lien on substantially all of the assets of Novanta Inc. The Third Amended and Restated Credit Agreement also contains customary events of default. Deferred Financing Costs The Company allocated the deferred financing costs between the term loan and the revolving credit facility based on the maximum borrowing capacity and are amortized on a straight-line basis over the term of the Senior Credit Facilities. Non-cash interest expense related to the amortization of the deferred financing costs was $ 1.2 million, $ 1.2 million and $ 1.2 million for the years ended December 31, 2024, December 31, 2023 and December 31, 2022, respectively. Unamortized deferred financing costs are presented as a reduction to the debt balances on the consolidated balance sheets. Fair Value of Debt As of December 31, 2024 and December 31, 2023 , the outstanding balance of the Company’s debt approximated its fair value based on current rates available to the Company for debt of the same maturities. The fair value of the Company’s debt is classified as Level 2 under the fair value hierarchy.

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	12. Leases Most leases held by the Company expire between 2025 and 2036 . In the U.K., where longer lease terms are more common, the Company has a land lease that extends through 2078 . Certain leases include terms such as one or more options to renew, with renewal terms that can extend the lease term from one to 10 years , and options to terminate the leases within one year . The exercise of lease renewal or termination option is at the Company’s sole discretion; therefore, the majority of renewals to extend the lease terms are not included in the Company’s right-of-use assets and operating lease liabilities as they are not reasonably certain of being exercised. The Company regularly evaluates the renewal options and includes the renewal periods in the lease term when they are reasonably certain of being exercised. The depreciable life of right-of-use assets and leasehold improvements is limited to the expected lease terms. The following table summarizes the components of lease costs included in the statements of operations for the periods indicated (in thousands): Year Ended December 31, 2024 2023 2022 Operating lease cost $ 12,109 $ 10,475 $ 10,387 Finance lease cost Amortization of right-of-use assets 602 602 602 Interest on lease liabilities 236 274 308 Variable lease cost 1,192 1,007 1,145 Total lease cost $ 14,139 $ 12,358 $ 12,442 The following table provides the details of balance sheet information related to leases as of the dates indicated (in thousands, except lease term and discount rate): December 31, 2024 2023 Operating leases: Operating lease right-of-use assets $ 42,908 $ 38,302 Current portion of operating lease liabilities $ 9,879 $ 8,189 Operating lease liabilities 40,548 37,345 Total operating lease liabilities $ 50,427 $ 45,534 Finance leases: Property, plant and equipment, gross $ 9,582 $ 9,582 Accumulated depreciation ( 6,874 ) ( 6,272 ) Finance lease assets included in property, plant and equipment, net $ 2,708 $ 3,310 Accrued expenses and other current liabilities $ 759 $ 718 Other liabilities 3,175 3,934 Total finance lease liabilities $ 3,934 $ 4,652 Weighted-average remaining lease term (in years): Operating leases 7.4 7.6 Finance leases 4.5 5.5 Weighted-average discount rate: Operating leases 4.82 % 4.84 % Finance leases 5.54 % 5.54 % The following table provides the details of cash flow information related to leases for the periods indicated (in thousands): Year Ended December 31, 2024 2023 2022 Cash paid for amounts included in lease liabilities: Operating cash flows from finance leases $ 236 $ 274 $ 308 Operating cash flows from operating leases $ 11,169 $ 7,826 $ 7,876 Financing cash flows from finance leases $ 718 $ 657 $ 599 Supplemental non-cash information: Right-of-use assets obtained in exchange for new operating lease liabilities (1) $ 14,237 $ 4,046 $ 4,757 Right-of-use assets obtained in exchange for new finance lease liabilities $ - $ - $ - (1) The amount for the twelve months ended December 31, 2024 includes $ 8.1 million of right-of-use assets acquired as part of the Motion Solutions acquisition. Future minimum lease payments under operating and finance leases expiring subsequent to December 31, 2024, including operating leases associated with facilities that have been vacated as a result of the Company’s restructuring actions, are summarized as follows (in thousands): Year Ending December 31, Operating Leases Finance Leases 2025 $ 11,581 $ 954 2026 10,445 979 2027 8,880 1,003 2028 6,084 1,003 2029 5,297 502 Thereafter 19,037 — Total minimum lease payments 61,324 4,441 Less: interest ( 10,897 ) ( 507 ) Present value of lease liabilities $ 50,427 $ 3,934

Stockholders_ Equity and Share-

Stockholders’ Equity and Share-Based Compensation	12 Months Ended
	Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stockholders’ Equity and Share-Based Compensation	13. Stockholders’ Equity and Share-Based Compensation Preferred Shares In May 2021, the Company’s shareholders approved a special resolution to amend the Company’s articles to authorize up to 7.0 million preferred shares for future issuance. The Company’s Board of Directors is authorized to designate and issue one or more series of preferred shares, fix the rights, preferences and designation, as deemed necessary or advisable, relating to the preferred shares, provided that no shares of any series may be entitled to more than one vote per share . As of December 31, 2024 , no preferred shares had been issued and outstanding. Common Shares The Company has an unlimited number of no-par value common shares authorized for issuance. Holders of common shares are entitled to one vote per share. Holders of common shares are entitled to receive dividends, if and when declared by the Board of Directors, and to share ratably in the Company’s assets legally available for distribution to shareholders in the event of liquidation. Holders of common shares have no redemption or conversion rights. Common Share Repurchases The Company’s Board of Directors may approve share repurchase plans from time to time. Under these repurchase plans, shares may be repurchased at the Company’s discretion based on ongoing assessment of the capital needs of the business, market prices of the Company’s common shares, and general market conditions. Shares may also be repurchased through an accelerated share purchase agreement on the open market or in privately negotiated transactions in accordance with applicable federal securities laws. Repurchases may be made under certain SEC regulations, which would permit common shares to be repurchased when the Company would otherwise be prohibited from doing so under insider trading laws. While the share repurchase plans are generally intended to offset dilution from equity awards granted to the Company’s employees and directors, the plans do not obligate the Company to acquire any particular amount of common shares. No time limit is typically set for the completion of the share repurchase plans, and the plans may be suspended or discontinued at any time. The Company expects to fund share repurchases through cash on hand and cash generated from operations. In October 2018, the Company’s Board of Directors approved a share repurchase plan (the “2018 Repurchase Plan”) authorizing the repurchase of $ 25.0 million worth of common shares. During 2022, the Company completed the 2018 Repurchase Plan and repurchased 80 thousand shares for an aggregate purchase price of $ 9.5 million at an average price of $ 118.97 per share. From the inception of the 2018 Repurchase Plan, the Company repurchased a cumulative total of 264 thousand shares for an aggregate purchase price of $ 25.0 million at an average price of $ 94.57 per share. In February 2020, the Company’s Board of Directors approved a new share repurchase plan (the “2020 Repurchase Plan”) authorizing the repurchase of an additional $ 50.0 million worth of common shares. During 2022, the Company repurchased 4 thousand shares for an aggregate purchase price of $ 0.5 million at an average price of $ 116.95 per share under the 2020 Repurchase Plan. No shares were repurchased during the years ended December 31, 2024 and 2023. As of December 31, 2024 , the Company had $ 49.5 million available for future share repurchases under the 2020 Repurchase Plan. Amended and Restated 2010 Incentive Plan In November 2010, the Company’s shareholders approved the 2010 Incentive Award Plan under which the Company may grant share-based compensation awards to employees, consultants and directors. In May 2021, the Company’s shareholders approved an amended and restated 2010 Incentive Award Plan (as amended, the “Amended and Restated 2010 Incentive Plan”). The maximum number of shares which can be issued pursuant to the Amended and Restated 2010 Incentive Plan is 6,148,613 , subject to adjustment as set forth in the Amended and Restated 2010 Incentive Plan. The Amended and Restated 2010 Incentive Plan provides for the grant of incentive stock options, non-qualified stock options, restricted stock, restricted stock units, stock appreciation rights, deferred stock, deferred stock units, dividend equivalents, performance awards and stock payments (collectively referred to as “Awards”). The Amended and Restated 2010 Incentive Plan provides for specific limits on the number of shares with respect to Awards that may be granted to any one person during any calendar year and the amount of cash that can be paid with respect to Awards to any one person during any calendar year. The Amended and Restated 2010 Incentive Plan will expire and no further Awards may be granted after May 13, 2031 . As of December 31, 2024 , there were 1,678,372 shares available for future Awards under the Amended and Restated 2010 Incentive Plan. Shares subject to Awards that have expired, forfeited or settled in cash, or repurchased by the Company at the same price paid by the awardee may be added back to the number of shares available for grant under the Amended and Restated 2010 Incentive Plan and may be granted as new Awards. Notwithstanding the foregoing, the following shares will not be added back to the number of shares available for grant: (a) shares that are used to pay the exercise price for an option, (b) shares tendered or withheld to pay taxes with respect to any Award (other than options and stock appreciation rights) to the extent they exceed the number of shares with a fair market value equal to the tax liability based on minimum withholding rates, (c) shares tendered or withheld to pay taxes with respect to options and stock appreciation rights, (d) shares subject to a stock appreciation right that are not issued in connection with the stock settlement of the stock appreciation right on exercise thereof, and (e) shares purchased on the open market with the cash proceeds from the exercise of options. Shares issued to satisfy Awards under the Amended and Restated 2010 Incentive Plan may be previously authorized but unissued shares, treasury shares or shares repurchased on the open market. Share-Based Compensation Expense The table below summarizes share-based compensation expense recorded in operating income for the periods indicated (in thousands): Year Ended December 31, 2024 2023 2022 Selling, general and administrative $ 19,885 $ 21,963 $ 18,182 Research and development and engineering 2,346 2,031 2,414 Cost of revenue 1,076 1,594 2,512 Total share-based compensation expense $ 23,307 $ 25,588 $ 23,108 The expense recorded during each of the three years ended December 31, 2024, December 31, 2023 and December 31, 2022 included $ 1.6 million, $ 1.2 million and $ 1.1 million, respectively, related to restricted stock units (“RSUs”) and deferred stock units (“DSUs”) granted to the members of the Company’s Board of Directors. As of December 31, 2024 , the Company’s outstanding equity awards for which compensation expense will be recognized in the future consisted of time-based RSUs, performance stock units (“PSUs”) and stock options granted under the Amended and Restated 2010 Incentive Plan. The Company expects to record an aggregate share-based compensation expense of $ 30.8 million, net of estimated forfeitures, over a weighted average period of 1.71 years subsequent to December 31, 2024, for all outstanding Awards as of December 31, 2024. Restricted Stock Units and Deferred Stock Units The Company’s RSUs have generally been issued to employees and the Company's Board of Directors with vesting periods ranging from zero to five years and vest based solely on service conditions. Accordingly, the Company recognizes compensation expense on a straight-line basis over the requisite service period. The Company reduces the compensation expense by an estimated forfeiture rate which is based on anticipated forfeitures and actual experience. DSUs are granted to the members of the Company’s Board of Directors. The compensation expense associated with the DSUs is recognized in full on the respective date of grant, as DSUs are fully vested and non-forfeitable upon grant. Outstanding DSUs are converted into common shares upon Board members' resignation or retirement from the Board. There were 40 thousand and 41 thousand DSUs outstanding as of December 31, 2024 and December 31, 2023, respectively, which were included in the calculation of weighted average basic shares outstanding for the respective period. The table below summarizes activities during the year ended December 31, 2024 relating to restricted and deferred stock units issued and outstanding under the Amended and Restated 2010 Incentive Plan: Restricted and Deferred Weighted Weighted Average Aggregate Intrinsic (1) Unvested at December 31, 2023 206 $ 143.97 Granted 118 $ 161.46 Vested ( 107 ) $ 141.88 Forfeited ( 19 ) $ 155.68 Unvested at December 31, 2024 198 $ 154.43 1.11 years $ 30,298 Expected to vest as of December 31, 2024 181 $ 153.94 1.11 years $ 27,697 (1) The aggregate intrinsic value is calculated based on the fair value of $ 152.77 per common share as of December 31, 2024 due to the fact that the restricted and deferred stock units carry a $ 0 purchase price. The total fair value of restricted stock units and deferred stock units that vested in 2024, based on the market price of the underlying shares as of the date of vesting, was $ 17.1 million. Performance Stock Units The Company typically grants PSUs that are based on the Company’s financial performance metrics, market conditions, or a hybrid of company financial performance metrics and market conditions. These PSUs generally cliff vest on the first day following the end of the specified performance period. The number of common shares to be issued upon settlement following vesting of attainment-based PSUs is determined based on the Company’s financial performance metrics over the specified performance period against the targets established by the Company’s Board of Directors at the time of grant and will be in the range of zero to 200 % of the target number of shares. The Company recognizes the related compensation expense ratably over the performance period based on the number of shares that are deemed probable of vesting at the end of the specified performance period. This probability assessment is performed quarterly and the cumulative effect of a change in the estimated compensation expense, if any, is recognized in the consolidated statement of operations in the period in which such determination is made. The number of common shares to be issued upon settlement following vesting of market-based PSUs is determined based on the relative market performance of the Company’s common shares compared to the Russell 2000 Index over the specified performance period using a payout formula established by the Company’s Board of Directors at the time of grant and will be in the range of zero to 200 % of the target number of shares. The Company recognizes the related compensation expense based on the fair value of the market-based PSUs, determined using the Monte-Carlo valuation method as of the grant date, on a straight-line basis from the grant date to the end of the specified performance period. Compensation expense on market-based PSUs will not be affected by the number of shares that will ultimately vest at the end of the specified performance period. The number of common shares to be issued upon settlement following vesting of PSU awards that are based on the achievement of a hybrid of company financial performance metrics and market conditions (“Hybrid PSUs”) is determined based on the Company's financial performance metrics achieved over the specified performance period against the targets established by the Company's Board of Directors at the time of grant and a market-based multiplier based on the percentile ranking of the relative market performance of the Company’s common shares compared to the Russell 2000 Index companies. The payout will be in the range of zero to 260 % of the target number of shares. The Company determines the fair value of these Hybrid PSUs using the Monte-Carlo valuation method as of the grant date. The Company recognizes compensation expense associated with the Hybrid PSUs ratably over the performance period based on the fair value of the PSUs as of the grant date and the number of shares that are deemed probable of vesting based on the estimated achievement of the pertinent company financial performance metrics at the end of the specified performance period. The probability assessment is performed quarterly and the cumulative effect of a change in the estimated compensation expense, if any, is recognized in the consolidated statement of operations in the period in which such determination is made. The table below summarizes activities during the year ended December 31, 2024 relating to performance-based restricted stock units issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan: Performance (2) Weighted Weighted Average Aggregate (3) Unvested at December 31, 2023 205 $ 160.24 Granted 80 $ 177.06 Performance adjustments (1) 16 $ 166.64 Vested ( 49 ) $ 166.58 Forfeited ( 25 ) $ 168.78 Unvested at December 31, 2024 227 $ 165.13 1.15 years $ 34,667 Expected to vest as of December 31, 2024 190 $ 163.87 1.15 years $ 29,051 (1) The amount shown represents performance adjustments related to the performance-based awards vested during the year ended December 31, 2024. (2) The unvested PSUs are shown in this table at target payout. The number of shares vested reflects the number of shares earned and issued during the year. As of December 31, 2024 , the maximum number of PSUs available to be earned was approximately 443 t housand. (3) The aggregate intrinsic value is calculated based on the fair value of $ 152.77 pe r common share as of December 31, 2024 due to the fact that the performance stock units carry a $ 0 purchase price. The total fair value of PSUs that vested during the year ended December 31, 2024 , based on the market price of the underlying shares on the date of vesting, was $ 8.0 million. The grant-date fair value of the hybrid PSUs granted during the year ended December 31, 2024 was estimated using the Monte-Carlo valuation model with the following assumptions: Year Ended December 31, 2024 Grant-date stock price $ 157.48 Expected volatility 36.90 % Risk-free interest rate 4.35 % Expected annual dividend yield — Weighted average fair value $ 180.98 Stock Options In February 2024, the Company granted 53 thousand nonqualified stock options to certain members of the executive management team to purchase common shares of the Company at an exercise price equal to the closing market price on the date of grant. The stock options vest ratably over three years on the anniversary of the date of grant and expire on the seven th anniversary of the date of grant. The Company estimates the fair value of stock options using the Black-Scholes valuation model. The Company recognizes compensation expense related to the stock options on a straight-line basis over the vesting period in the consolidated statement of operations. The following table shows stock options that were outstanding and exercisable as of December 31, 2024 and the related weighted average exercise price, weighted average remaining contractual term and aggregate intrinsic value: Stock Options Weighted Weighted Aggregate Intrinsic Value (1) (In thousands) Outstanding as of December 31, 2023 132 $ 102.86 Granted 53 $ 157.48 Exercised ( 31 ) $ 14.13 Forfeited or expired ( 5 ) $ 156.61 Outstanding as of December 31, 2024 149 $ 139.17 4.63 years $ 2,449 Exercisable as of December 31, 2024 59 $ 116.07 3.22 years $ 2,247 Expected to vest as of December 31, 2024 90 $ 154.36 5.56 years $ 202 (1) The aggregate intrinsic value is calculated as the difference between the closing market price of $ 152.77 per common share as of December 31, 2024 and the exercise price of the stock options. It excludes the effect of stock options that have a zero or negative intrinsic value. The aggregate Black-Scholes fair value of $ 3.3 million for the stock options granted during the year ended December 31, 2024 was estimated using the following assumptions as of the grant date: Year Ended December 31, 2024 Expected option term in years 4.5 Expected volatility 40.3 % Risk-free interest rate 4.2 % Expected annual dividend yield — The expected option term was calculated using the simplified method permitted under Codification of Staff Accounting Bulletins Topic 14, “Share-Based Payment”. The expected volatility was determined based on the historical volatility of the Company’s common shares over the expected option term. Risk-free interest rate was based upon U.S. treasury instruments. The expected annual dividend yield is zero as the Company does not have plans to issue dividends.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	14. Employee Benefit Plans Defined Contribution Plans The Company has defined contribution employee retirement savings plans in the U.S., the U.K. and Japan. The Company matches the contributions of participating employees on the basis of percentages specified in each plan. The Company’s matching contributions to the plans were $ 6.8 million, $ 6.8 million and $ 5.9 million for the years ended December 31, 2024, December 31, 2023 and December 31, 2022, respectively. Defined Benefit Plan The Company maintains a frozen defined benefit pension plan in the U.K. (the “U.K. Plan”). The U.K. Plan was closed to new membership in 1997 and stopped accruing additional pension benefits for existing members in 2003. Benefits under the U.K. Plan were based on the participants’ years of service and compensation as of the date the plan was frozen in 2003, adjusted for inflation. The Company continues to fund the plan in accordance with the pension regulations in the U.K. The net periodic pension cost is included in other income (expense) in the consolidated statements of operations and consisted of the following components (in thousands): Year Ended December 31, 2024 2023 2022 Components of the net periodic pension cost: Interest cost $ 1,158 $ 1,185 $ 669 Expected return on plan assets ( 1,466 ) ( 1,440 ) ( 1,286 ) Amortization of actuarial losses 851 990 380 Amortization of prior service cost 30 30 32 Net periodic pension cost $ 573 $ 765 $ ( 205 ) The actuarial assumptions used to compute the net periodic pension cost for the years ended December 31, 2024, December 31, 2023 and December 31, 2022, respectively, were as follows: Year Ended December 31, 2024 2023 2022 Weighted-average discount rate 4.5 % 4.8 % 1.8 % Weighted-average long-term rate of return on plan assets 5.1 % 5.3 % 3.2 % The actuarial assumptions used to compute the benefit obligations as of December 31, 2024 and December 31, 2023, respectively, were as follows: December 31, 2024 2023 Weighted-average discount rate 5.5 % 4.5 % Rate of inflation 3.1 % 2.8 % The discount rates used are derived from (AA) corporate bonds that have maturities approximating the terms of the pension obligations under the U.K. Plan. In estimating the expected return on plan assets, the Company considered the historical performance of the major asset classes held by the U.K. Plan and current forecasts of future rates of return for these asset classes. The following table provides a reconciliation of benefit obligations and plan assets of the U.K. Plan (in thousands): December 31, 2024 2023 Change in benefit obligation: Projected benefit obligation at beginning of year $ 26,259 $ 24,597 Interest cost 1,158 1,185 Actuarial (gains) losses (1) ( 3,393 ) 445 Benefits paid ( 1,374 ) ( 1,257 ) Prior service cost — — Foreign currency exchange rate changes ( 250 ) 1,289 Projected benefit obligation at end of year $ 22,400 $ 26,259 Accumulated benefit obligation at end of year $ 22,400 $ 26,259 Change in plan assets: Fair value of plan assets at beginning of year $ 29,351 $ 26,609 Actual return on plan assets ( 1,311 ) 1,575 Employer contributions 287 1,007 Benefits paid ( 1,374 ) ( 1,257 ) Foreign currency exchange rate changes ( 308 ) 1,417 Fair value of plan assets at end of year $ 26,645 $ 29,351 Funded status at end of year $ 4,245 $ 3,092 Amounts included in accumulated other comprehensive loss not yet recognized in net periodic pension cost: Net actuarial losses at beginning of year $ ( 7,772 ) $ ( 8,076 ) Net actuarial gains (losses) during the year 627 ( 310 ) Prior service cost arising during the year — — Amounts reclassified from accumulated other comprehensive loss to income before income taxes 881 1,020 Foreign currency exchange rate changes 67 ( 406 ) Net actuarial losses $ ( 6,197 ) $ ( 7,772 ) (1) Actuarial (gains)/losses in the U.K. Plan for the years ended December 31, 2024 and December 31, 2023 , respectively, primarily resulted from changes in the discount rate assumptions. The funded status of the U.K. Plan was included in other long term assets on the accompanying consolidated balance sheet as of December 31, 2024 and December 31, 2023, respectively. The following table reflects the total expected benefit payments to plan participants for each of the next five years and the following five years in aggregate and have been estimated based on the same assumptions used to measure the Company’s benefit obligations as of December 31, 2024 (in thousands): Amount 2025 $ 1,298 2026 1,568 2027 1,642 2028 1,615 2029 1,613 2030-2034 9,678 Total $ 17,414 In the U.K., defined benefit pension plan funding valuations are conducted every three years to determine the future level of contributions. Based on the results of the most recent valuation in 2024, the Company will not be required to contribute any additional funds for the next three years. Future annual funding contributions, if any, will be determined in the next statutory funding valuation in 2027. Fair Value of Plan Assets The trustee of the U.K. Plan has the fiduciary responsibilities to manage the plan assets in consultation with the Company. The overall objective is to invest plan assets in a portfolio of diversified assets, primarily through the use of institutional collective funds. During the year ended December 31, 2023, the investment strategy was gradually shifted from a balanced growth strategy that combines investments in growth assets (such as equities and credit) with investments in debt instruments that match a portion of the expected future benefit payments to a strategy that is progressively more focused on matching the benefit payments based on a series of de-risking triggers that are based on the funding level. As these triggers are hit, the assets are shifted from growth assets into fixed income investments leading to an increasingly low risk approach. The following table summarizes the fair values of Plan assets by asset category as of December 31, 2024 (in thousands): Asset Category Fair Value Quoted Prices in Active Markets Significant Other Observable Significant Other Unobservable Not Mutual Funds: Balanced (1) $ 5,118 $ — $ — $ — $ 5,118 Fixed income (2) 21,136 — — — 21,136 Cash 391 391 — — — Total $ 26,645 $ 391 $ — $ — $ 26,254 (1) This class comprises a diversified portfolio of global investments which seeks growth from equities and credit assets. It is allocated on a weighted average basis as follows: equities ( 5 %), bonds ( 90 %) and other assets ( 5 %). (2) This class comprises a diversified portfolio of global investments which seeks fixed income growth and is allocated on a weighted average basis as follows: bonds ( 79 %) and other assets ( 21 %). The following table summarizes the fair values of Plan assets by asset category as of December 31, 2023 (in thousands): Asset Category Fair Value Quoted Prices in Active Markets Significant Other Observable Significant Other Unobservable Not Mutual Funds: Balanced (1) $ 18,978 $ — $ — $ — $ 18,978 Fixed income (2) 10,129 — — — 10,129 Cash 244 244 — — — Total $ 29,351 $ 244 $ — $ — $ 29,107 (1) This class comprises a diversified portfolio of global investments which seeks growth from equities and credit assets. It is allocated on a weighted average basis as follows: equities ( 11 %), bonds ( 64 %) and other assets ( 25 %). (2) This class comprises a diversified portfolio of global investments which seeks fixed income growth and is allocated on a weighted average basis as follows: bonds ( 95 %) and other assets ( 5 %).

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	15. Income Taxes Components of the Company’s income (loss) before income taxes for the periods indicated are as follows (in thousands): Year Ended December 31, 2024 2023 2022 Income (loss) before income taxes: Canada $ ( 7,425 ) $ ( 6,490 ) $ ( 4,946 ) U.S. 11,829 38,992 28,365 Other 74,662 51,246 63,740 Total $ 79,066 $ 83,748 $ 87,159 Components of the Company’s income tax provision (benefit) for the periods indicated are as follows (in thousands): Year Ended December 31, 2024 2023 2022 Current Canada $ 43 $ 59 $ 65 U.S. 11,198 14,424 17,205 Other 19,647 11,113 14,492 30,888 25,596 31,762 Deferred Canada — — — U.S. ( 12,612 ) ( 12,224 ) ( 15,370 ) Other ( 3,297 ) ( 2,502 ) ( 3,284 ) ( 15,909 ) ( 14,726 ) ( 18,654 ) Total $ 14,979 $ 10,870 $ 13,108 The Company is incorporated in Canada and therefore uses the Canadian statutory rate for income tax disclosure. The reconciliation of the statutory Canadian tax rate to the effective tax rate related to income before income taxes for the periods indicated is as follows (in thousands, except percentage data): Year Ended December 31, 2024 2023 2022 Statutory Canadian tax rate 29.00 % 29.00 % 29.00 % Expected income tax provision at Canadian statutory tax rate $ 22,929 $ 24,287 $ 25,276 U.S. state income taxes, net ( 168 ) 860 3 U.K. patent box ( 3,982 ) ( 4,247 ) ( 3,135 ) Foreign-derived intangible income ( 3,015 ) ( 4,500 ) ( 4,467 ) International tax rate differences ( 2,622 ) ( 4,804 ) ( 6,289 ) Tax credits ( 2,590 ) ( 3,602 ) ( 2,256 ) Change in valuation allowance 1,930 2,068 2,048 Disallowed compensation 1,678 2,571 2,138 Withholding and other taxes 854 300 789 Windfall benefit from share-based compensation ( 844 ) ( 1,685 ) ( 254 ) Transaction costs and permanent differences 360 423 140 Uncertain tax positions 244 90 ( 168 ) Provision to return differences 231 ( 1,056 ) ( 19 ) Acquisition contingent consideration adjustments ( 81 ) — ( 698 ) Statutory tax rate changes 55 165 — Reported income tax provision $ 14,979 $ 10,870 $ 13,108 Effective tax rate 18.9 % 13.0 % 15.0 % Deferred income taxes result principally from temporary differences in the recognition of certain revenue and expense items and operating loss and tax credit carryforwards for financial and tax reporting purposes. Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2024 and December 31, 2023 are as follows (in thousands): December 31, 2024 2023 Deferred tax assets: Capitalized R&D $ 34,777 $ 25,238 Inventories 15,451 12,497 Losses 12,606 11,274 Compensation related deductions 9,323 8,457 Operating lease liabilities 9,120 10,194 Tax credits 3,260 3,222 Business interest expense 1,483 - Other 974 724 Warranty 913 964 Total deferred tax assets 87,907 72,570 Valuation allowance on deferred tax assets ( 18,594 ) ( 16,674 ) Net deferred tax assets $ 69,313 $ 55,896 Deferred tax liabilities: Amortization $ ( 39,061 ) $ ( 24,436 ) Operating lease right-of-use assets ( 8,110 ) ( 9,198 ) Depreciation ( 6,307 ) ( 5,389 ) Deferred revenue ( 6,041 ) ( 5,316 ) Total deferred tax liabilities $ ( 59,519 ) $ ( 44,339 ) Net deferred tax assets (liabilities) $ 9,794 $ 11,557 In determining its income tax provisions, the Company calculated deferred tax assets and liabilities for each separate jurisdiction. The Company then considered a number of factors, including positive and negative evidence related to the realization of its deferred tax assets, to determine whether a valuation allowance should be recognized with respect to its deferred tax assets. The Company began to capitalize research and development (“R&D”) expenditures in 2022 in accordance with the Tax Cuts and Jobs Act of 2017 (“TCJA”) which requires that R&D expenditures be capitalized and amortized for income tax purposes over five years for domestic research and fifteen years for foreign research, rather than being deducted as incurred. This has the effect of increasing the Company’s cash taxes and deferred tax assets. For the year ended December 31, 2024, the Company’s deferred tax assets related to capitalized R&D expenditures increased $ 9.5 million, which also created an effective tax rate benefit of 2.0 % by increasing the Company's Foreign Derived Intangible Income deduction. During the years ended December 31, 2024, and December 31, 2023, the Company recorded an additional valuation allowance of $ 1.9 million, and $ 2.1 million, respectively. As of December 31, 2024, the Company had valuation allowances on Canada net operating and capital loss carryforwards, U.K. capital loss carryforwards, certain U.S. state net operating losses, and state and foreign tax credits that the Company has determined that they are not more likely than not to be realized. In conjunction with the Company’s ongoing review of its actual results and anticipated future earnings, the Company continuously reassesses the possibility of releasing the valuation allowance currently in place on its deferred tax assets. As of December 31, 2024, the Company had net operating loss carry forwards of $ 6.8 million (tax effected). Of this amount, approximately $ 6.5 million relates to Canada and begins to expire starting in 2033 and had a full valuation allowance. The remainder $ 0.3 million relates to various U.S. jurisdictions, of which $ 0.1 million can be carried forward indefinitely and the remaining $ 0.2 million will begin to expire in 2025 through 2036 , on which the Company records a valuation allowance of $ 0.1 million. In addition, the Company had capital loss carryforwards of $ 5.8 million, which can be carried forward indefinitely and had a full valuation allowance. Of this amount, $ 4.9 million, $ 0.8 million and $ 0.1 million relates to Canada, the U.K and other foreign jurisdictions, respectively. As of December 31, 2023, the Company had net operating loss carryforwards of $ 5.7 million (tax effected). Of this amount, approximately $ 5.2 million relates to Canada and begins to expire starting in 2033 and had a full valuation allowance. The remaining $ 0.5 million relates to various U.S jurisdictions, which will expire between 2024 and 2043 . In addition, the Company had capital loss carryforwards of $ 5.6 million, which can be carried forward indefinitely and had a full valuation allowance. Of this amount, $ 4.9 million related to Canada and the remaining $ 0.7 million related to the U.K. As of December 31, 2024, the Company had tax credit carryforwards of approximately $ 3.8 million, before accounting for $ 0.6 million of uncertain tax positions recorded against the credit carryforward. Approximately $ 2.6 million relates to U.S. state credits and will expire through 2039 , and on which the Company maintains a full valuation allowance, $ 0.5 million relates to the U.S. federal foreign tax credits which will expire through 2034 . The remaining $ 0.7 million relates to Canada and can be carried forward indefinitely. The U.S. federal and Canadian tax credit carryforwards also have a full valuation allowance recorded against them. As of December 31, 2023, the Company had tax credit carryforwards of approximately $ 3.7 million. Approximately $ 3.0 million relates to the U.S. and other immaterial foreign jurisdictions and will expire through 2039 , and $ 0.7 million relates to Canada and can be carried forward indefinitely. The Company had a $ 2.9 million valuation allowance on these tax credit carryforwards. As of December 31, 2024, the Company had disallowed business interest expense carryforwards of $ 1.5 million under Section 163(j) of the Internal Revenue Code. These carryforwards have no expiration date and can be utilized indefinitely to offset future taxable income, subject to the limitations of Section 163(j). No business interest expense carryforward existed as of December 31, 2023. Income and foreign withholding taxes have not been recognized on the excess of the amount for financial reporting purposes over the tax basis of investments in foreign subsidiaries that are essentially permanent in nature. This amount becomes taxable upon the repatriation of assets from a subsidiary or a sale or liquidation of a subsidiary. The amount of undistributed earnings of foreign subsidiaries totaled $ 494.9 million as of December 31, 2024. The estimated unrecognized income tax and foreign withholding tax liability on these undistributed earnings is approximately $ 7.3 million. As of December 31, 2024, the Company’s total amount of gross unrecognized tax benefits was $ 4.8 million, of which $ 4.1 million would favorably affect the effective tax rate if benefited. Over the next twelve months, the Company may need to recognize up to $ 0.8 million of previously recorded unrecognized tax benefits due to statute of limitations closures. Furthermore, the Company believes there are no jurisdictions in which the outcome of unresolved issues or claims is likely to be material to its results of operations, financial position or cash flows. Furthermore, the Company believes that it has adequately provided for all significant income tax uncertainties. The reconciliation of the total amounts of unrecognized tax benefits is as follows (in thousands): Balance at December 31, 2021 $ 4,797 Additions based on tax positions related to the current year 553 Additions for tax positions of prior years 34 Reductions to tax positions of prior years ( 563 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations ( 572 ) Settlements with tax authorities — Balance at December 31, 2022 4,249 Additions based on tax positions related to the current year 561 Additions for tax positions of prior years 47 Reductions to tax positions of prior years ( 22 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations ( 492 ) Settlements with tax authorities — Balance at December 31, 2023 4,343 Additions based on tax positions related to the current year 949 Additions for tax positions of prior years 204 Reductions to tax positions of prior years ( 42 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations ( 615 ) Settlements with tax authorities — Balance at December 31, 2024 $ 4,839 The Company recognizes interest and penalties related to uncertain tax positions in income tax provision. As of December 31, 2024 and 2023, the Company had approximately $ 0.8 million and $ 0.7 million, respectively, of accrued interest and penalties related to uncertain tax positions. During the years ended December 31, 2024, December 31, 2023 and December 31, 2022, the Company recognized $ 0.1 million, $ 0.1 million and $ 0.1 million, respectively, of expense for an increase in interest and penalties related to uncertain tax positions. The Company files income tax returns in Canada, the U.S., and various foreign jurisdictions. Generally, the Company is no longer subject to U.S. or foreign income tax examinations, including transfer pricing tax audits, by tax authorities for the years before 2014. The Company’s income tax returns may be reviewed by tax authorities in the following countries for the following periods under the appropriate statute of limitations: United States 2019 - Present Canada 2017 - Present United Kingdom 2023 - Present Germany 2017 - Present Czech Republic 2022 - Present China 2014 - Present Japan 2019 - Present

Restructuring, Acquisition and

Restructuring, Acquisition and Related Costs	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring, Acquisition and Related Costs	16. Restructuring, Acquisition and Related Costs The following table summarizes restructuring, acquisition and related costs recorded in the accompanying consolidated statements of operations for the periods indicated (in thousands): Year Ended December 31, 2024 2023 2022 2024 restructuring $ 10,486 $ — $ — 2022 restructuring — 8,961 1,414 2020 restructuring — 2,853 2,994 Total restructuring related charges $ 10,486 $ 11,814 $ 4,408 Acquisition and related charges $ 3,223 $ 1,000 $ ( 24 ) Total restructuring, acquisition and related costs $ 13,709 $ 12,814 $ 4,384 2024 Restructuring As a result of the Company’s acquisitions and ongoing integration activities, the Company initiated the 2024 restructuring program in the first quarter of 2024 in order to reduce operating complexity. During the year ended December 31, 2024, the Company recorded $ 10.5 million in severance, facility related and other charges in connection with the 2024 restructuring program. As of December 31, 2024, the Company had incurred cumulative costs of $ 10.5 million r elated to this restructuring program. The Company anticipates substantially completing the 2024 restructuring program in the first half of 2025 and expects to incur additional restructuring charges of $ 4.0 million to $ 5.0 million related to the 2024 restructuring program. The following table summarizes restructuring costs associated with the 2024 restructuring program by reportable segment (in thousands): Year Ended December 31, Cumulative Costs as of 2024 December 31, 2024 Automation Enabling Technologies $ 3,198 $ 3,198 Medical Solutions 6,769 6,769 Unallocated costs 519 519 Total $ 10,486 $ 10,486 2022 Restructuring As a result of the Company’s ongoing evaluations and efforts to reduce its operating costs, while improving efficiency and effectiveness, the Company initiated the 2022 restructuring program in the third quarter of 2022. This program was focused on reducing operating complexity in the Company, including reducing infrastructure costs and streamlining the Company’s operating model to better serve its customers. In addition, the program was focused on cost reduction actions to improve gross margins for the overall company. As of December 31, 2024, the Company had incurred cumulative costs of $ 10.4 million related to the 2022 restructuring program. The 2022 restructuring program was completed in the fourth quarter of 2023. The following table summarizes restructuring costs associated with the 2022 restructuring program by reportable segment (in thousands): Year Ended December 31, Cumulative Costs as of 2023 2022 December 31, 2024 Automation Enabling Technologies $ 6,771 $ 1,358 $ 8,129 Medical Solutions 1,359 56 1,415 Unallocated costs 831 — 831 Total $ 8,961 $ 1,414 $ 10,375 2020 Restructuring As a result of the Company’s ongoing evaluations and efforts to reduce its operating costs, while improving efficiency and effectiveness, the Company initiated the 2020 restructuring program in the third quarter of 2020. This program was focused on reducing operating complexity in the Company, including reducing infrastructure costs and streamlining the Company’s operating model to better serve its customers. In addition, the program was focused on cost reduction actions to improve gross margins for the overall company. As of December 31, 2024, the Company had incurred cumulative costs of $ 16.7 million related to the 2020 restructuring program. The 2020 restructuring program was completed in the fourth quarter of 2023. In January 2025, the Company sold an owned facility with a $ 3.6 million gain. The following table summarizes restructuring costs associated with the 2020 restructuring program by reportable segment (in thousands): Year Ended December 31, Cumulative Costs as of 2023 2022 December 31, 2024 Automation Enabling Technologies $ 2,853 $ 2,775 $ 13,827 Medical Solutions — 217 2,716 Unallocated costs — 2 173 Total $ 2,853 $ 2,994 $ 16,716 Roll-forward of Accrued Expenses Related to Restructuring Programs The following table summarizes the accrual activities, by component, related to the Company’s restructuring programs recorded in the accompanying consolidated balance sheets (in thousands): Total Employee Related Facility Related Other Balance at December 31, 2022 $ 2,410 $ 1,902 $ 452 $ 56 Restructuring charges 11,814 5,832 4,452 1,530 Cash payments ( 8,867 ) ( 6,675 ) ( 1,379 ) ( 813 ) Non-cash write-offs and other adjustments (1) ( 2,507 ) ( 21 ) ( 1,845 ) ( 641 ) Balance at December 31, 2023 2,850 1,038 1,680 132 Restructuring charges 10,486 8,165 2,034 287 Cash payments ( 5,898 ) ( 3,469 ) ( 2,007 ) ( 422 ) Non-cash write-offs and other adjustments ( 687 ) ( 44 ) ( 646 ) 3 Balance at December 31, 2024 $ 6,751 $ 5,690 $ 1,061 $ — (1) Non-cash write-offs and other adjustments included impairment of assets amounting to $ 2.5 million. Acquisition and Related Charges Acquisition costs incurred in connection with business combinations, primarily including finders’ fees, legal, valuation and other professional or consulting fees, totaled $ 3.5 million, $ 1.0 million, and $ 1.4 million during 2024, 2023, and 2022 , respectively. Acquisition related costs/(income) recognized under earn-out agreements in connection with acquisitions totaled $( 0.3 ) million, zero , and $( 1.4 ) million during 2024, 2023, and 2022, respectively. A majority of the acquisition and related costs of $ 3.2 million for 2024 were not allocated to any of the reportable segments.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	17. Commitments and Contingencies Purchase Commitments As of December 31, 2024 , the Company had purchase commitments primarily for inventory purchases of $ 138.7 million. These purchase commitments are expected to be incurred as follows: $ 126.3 million in 2025, $ 11.4 million in 2026 and $ 1.0 million in 2027. Legal Proceedings The Company is subject to various other legal proceedings and claims that arise in the ordinary course of business. The Company reviews the status of each significant matter and assesses the potential financial exposure on a quarterly basis. If the potential loss from any claim or legal proceeding is considered probable and the amount can be reasonably estimated, the Company accrues a liability for the estimated loss. Significant judgment is required in both the determination of the probability of an exposure and the determination as to whether the exposure is reasonably estimable. Because of uncertainties related to these matters, accruals are based only on the best information available as of the date of the consolidated balance sheet. As additional information becomes available, the Company reassesses the potential liability related to any pending claims and litigation and may revise its estimates. The Company does not believe that the outcome of these claims will have a material adverse effect on its consolidated financial statements but there can be no assurance that any such claims, or any similar claims, would not have a material adverse effect on its consolidated financial statements. Guarantees and Indemnifications In the normal course of its operations, the Company executes agreements that provide for indemnification and guarantees to counterparties in transactions such as business dispositions, sale of assets, sale of products and operating leases. Additionally, the by-laws of the Company require it to indemnify certain current or former directors, officers, and employees of the Company against expenses incurred by them in connection with each proceeding in which they are involved as a result of serving or having served in certain capacities. Indemnification is not available with respect to a proceeding as to which it has been adjudicated that the person did not act in good faith in the reasonable belief that the action was in the best interests of the Company. Certain of the Company’s officers and directors are also a party to indemnification agreements with the Company. These indemnification agreements provide, among other things, that the director and officer shall be indemnified to the fullest extent permitted by applicable law against all expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by such officer or director in connection with any proceeding by reason of their relationship with the Company. In addition, the indemnification agreements provide for the advancement of expenses incurred by such director or officer in connection with any proceeding covered by the indemnification agreement, subject to the conditions set forth therein and to the extent such advancement is not prohibited by law. The indemnification agreements also set out the procedures for determining entitlement to indemnification, the requirements relating to notice and defense of claims for which indemnification is sought, the procedures for enforcement of indemnification rights, the limitations on and exclusions from indemnification, and the minimum levels of directors’ and officers’ liability insurance to be maintained by the Company. On July 1, 2013, the Company provided a Guarantee (the “Guarantee”) in favor of the trustees of the U.K. Plan with respect to all present and future obligations and liabilities, whether actual or contingent and whether owed jointly or severally and in any capacity whatsoever, of Novanta Technologies U.K. Limited, a wholly owned subsidiary of Novanta Inc. Credit Risks and Other Uncertainties The Company maintains financial instruments such as cash and cash equivalents and trade receivables. From time to time, certain of these instruments may subject the Company to concentrations of credit risk whereby one institution may hold a significant portion of the cash and cash equivalents, or one customer may represent a large portion of the accounts receivable balances. As of December 31, 2024, and December 31, 2023, one customer represented approximately 13% and 10%, respectively, of the Company's outstanding accounts receivable balance. Credit risk with respect to trade accounts receivable is generally minimized because of the diversification of the Company’s operations, as well as its large customer base and its geographic dispersion. Certain components and materials included in the Company’s products are currently purchased from single source suppliers. There can be no assurance that a disruption of the supply of such components and materials would not create substantial manufacturing delays and additional cost to the Company. The Company’s operations involve a number of other risks and uncertainties including, but not limited to, the effects of general economic conditions, rapidly changing technologies, and international operations.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Information	18. Segment Information Reportable Segments The Company’s Chief Operating Decision Maker (“CODM”) is the Chief Executive Officer . The CODM utilizes financial information to make decisions about allocating resources and assessing performance for the entire Company. The CODM evaluates the performance of, and allocates resources to, its segments based on revenue, gross profit and operating income. The Company’s reportable segments have been identified based on commonality and adjacency of end markets and customers amongst the Company’s individual product lines. During the fourth quarter of 2024, the Company updated its organizational structure and re-aligned its financial reporting structure under two reportable segments: Automation Enabling Technologies and Medical Solutions. Prior to the reorganization, the Company's historical reportable segments were: Precision Medicine and Manufacturing, Robotics and Automation, and Medical Solutions. Prior period segment financial information has been recast to align with the new reportable segments herein, as well as in Notes 6 and 16. Automation Enabling Technologies The Automation Enabling Technologies segment designs, manufactures and markets laser beam delivery components, laser beam delivery solutions, CO 2 lasers, solid state lasers, ultrafast lasers, optical and inductive encoders, precision motors, integrated stepper motors, servo drives, motion control solutions, intelligent robotic end-of-arm technology solutions, and air bearing spindles to customers worldwide. The segment serves highly demanding applications for advanced industrial processes, advanced industrial and medical robotics, other medical and life science automation applications, and medical laser procedures such as ophthalmology applications. The vast majority of the segment’s product offerings are sold to OEM customers. The segment sells the majority of these products directly, utilizing a highly technical sales force, and also sells some indirectly, through resellers and distributors. Medical Solutions The Medical Solutions segment designs, manufactures and markets a range of medical grade technologies, including medical insufflators and endoscopic pumps and related disposables, laser beam delivery solutions, video processing and streaming and capture, machine vision technologies, radio frequency identification (“RFID”) technologies, barcode identification technologies, thermal chart recorders, light and color measurement technologies, touch panel displays, and advanced motion control solutions. The vast majority of the segment’s product offerings are sold to OEM customers. The segment sells the majority of these products directly, utilizing a highly technical sales force, and also sells some indirectly, through resellers and distributors. Reportable Segment Financial Information Results of operations, depreciation and amortization expenses, accounts receivable and inventories by reportable segments for the periods indicated were as follows (in thousands): Year Ended December 31, 2024 Automation Enabling Technologies Medical Solutions Total Revenue $ 490,620 $ 458,625 $ 949,245 Cost of revenue 249,364 260,176 Amortization of purchased intangible assets 6,281 8,492 Gross profit 234,975 189,957 424,932 Research and development and engineering 39,026 57,110 Selling, general and administrative 75,423 53,798 Amortization of purchased intangible assets 11,207 14,587 Restructuring, acquisition, and related costs 2,916 6,930 Segment operating income 106,403 57,532 163,935 Unallocated costs — — ( 53,351 ) Interest income (expense), net — — ( 31,489 ) Other income (expense), net — — ( 29 ) Income before income taxes $ 106,403 $ 57,532 $ 79,066 Year Ended December 31, 2023 Automation Enabling Technologies Medical Solutions Total Revenue $ 499,220 $ 382,442 $ 881,662 Cost of revenue 257,377 206,550 Amortization of purchased intangible assets 7,045 5,105 Gross profit 234,798 170,787 405,585 Research and development and engineering 43,024 49,440 Selling, general and administrative 72,860 49,227 Amortization of purchased intangible assets 12,942 7,503 Restructuring, acquisition, and related costs 9,691 1,359 Segment operating income 96,281 63,258 159,539 Unallocated costs — — ( 49,043 ) Interest income (expense), net — — ( 25,818 ) Other income (expense), net — — ( 930 ) Income before income taxes $ 96,281 $ 63,258 $ 83,748 Year Ended December 31, 2022 Automation Enabling Technologies Medical Solutions Total Revenue $ 534,090 $ 326,813 $ 860,903 Cost of revenue 281,689 181,908 Amortization of purchased intangible assets 7,396 5,874 Gross profit 245,005 139,031 384,036 Research and development and engineering 45,444 40,416 Selling, general and administrative 73,554 42,634 Amortization of purchased intangible assets 17,662 8,676 Restructuring, acquisition, and related costs 2,920 432 Segment operating income 105,425 46,873 152,298 Unallocated costs — — ( 49,219 ) Interest income (expense), net — — ( 15,616 ) Other income (expense), net — — ( 304 ) Income before income taxes $ 105,425 $ 46,873 $ 87,159 Year Ended December 31, 2024 2023 2022 Depreciation and Amortization Expenses Automation Enabling Technologies $ 23,873 $ 26,680 $ 32,334 Medical Solutions 29,818 18,578 20,425 Unallocated 1,872 1,354 399 Total $ 55,563 $ 46,612 $ 53,158 December 31, 2024 2023 Accounts Receivable Automation Enabling Technologies $ 70,829 $ 71,131 Medical Solutions 80,197 68,279 Total accounts receivable $ 151,026 $ 139,410 Inventories Automation Enabling Technologies $ 89,009 $ 103,326 Medical Solutions 55,597 46,045 Total inventories $ 144,606 $ 149,371 Total segment assets $ 295,632 $ 288,781 December 31, 2024 2023 Total Assets Total segment assets $ 295,632 $ 288,781 Cash and cash equivalents 113,989 105,051 Prepaid income taxes and income taxes receivable 8,076 8,105 Prepaid expenses and other current assets 15,951 13,360 Property, plant and equipment, net 113,135 109,449 Operating lease assets 42,908 38,302 Deferred tax assets 22,887 27,862 Other assets 5,991 5,617 Intangible assets, net 185,844 145,022 Goodwill 584,098 484,507 Total $ 1,388,511 $ 1,226,056 Geographic Information The Company aggregates geographic revenue based on the customer location where products are shipped. Revenue from these customers is summarized for the periods indicated as follows (in thousands, except percentage data): Year Ended December 31, 2024 2023 2022 Revenue % of Total Revenue % of Total Revenue % of Total United States $ 487,114 51.3 % $ 418,265 47.4 % $ 372,345 43.3 % Germany 123,244 13.0 128,229 14.5 133,728 15.5 Rest of Europe 128,871 13.6 137,027 15.6 137,803 16.0 China 84,562 8.9 73,444 8.3 97,178 11.3 Rest of Asia-Pacific 107,054 11.3 105,350 12.0 101,596 11.8 Other 18,400 1.9 19,347 2.2 18,253 2.1 Total $ 949,245 100.0 % $ 881,662 100.0 % $ 860,903 100.0 % Long-lived assets consist of property, plant and equipment, net, and are aggregated based on the location of the assets. A summary of these long-lived assets is as follows (in thousands): December 31, 2024 2023 United States $ 25,207 $ 23,899 Germany 31,684 35,318 U.K. 34,078 28,734 Czech Republic 15,345 14,100 China 6,561 7,114 Rest of World 260 284 Total $ 113,135 $ 109,449 Revenue by End Market The Company primarily operates in two end markets: the medical market and the advanced industrial market. Revenue by end market was approximately as follows: Year Ended December 31, 2024 2023 2022 Medical 55 % 54 % 49 % Advanced Industrial 45 % 46 % 51 % Total 100 % 100 % 100 % The majority of the revenue from the Automation Enabling Technologies segment is generated from sales to customers in the advanced industrial market. The majority of the revenue from the Medical Solutions segment is generated from sales to customers in the medical market. Significant Customers During the years ended December 31, 2024 and December 31, 2023 , respectively, an OEM customer primarily from the Medical Solutions segment accounted for approximately 10 % of the Company's consolidated revenue. No customer accounted for greater than 10 % of the Company's consolidated revenue during the year ended December 31, 2022 .

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements have been prepared by the Company in United States (“U.S.”) dollars and in accordance with accounting principles generally accepted in the U.S., applied on a consistent basis. These consolidated financial statements include the accounts of Novanta Inc. and its subsidiaries. Intercompany accounts and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenue and expenses during the reporting periods. Estimates and assumptions are reviewed on an on-going basis and the effects of revisions are reflected in the period in which such revisions are deemed to be necessary. The Company evaluates its estimates based on historical experience, current conditions, and various other assumptions that it believes are reasonable under the circumstances. Actual results could differ significantly from these estimates.
Updated Segment Reporting Structure	Updated Segment Reporting Structure During the fourth quarter of 2024, the Company updated its organizational structure and re-aligned its financial reporting structure under two reportable segments: Automation Enabling Technologies and Medical Solutions. Prior to the reorganization, the Company's historical reportable segments were: Precision Medicine and Manufacturing, Robotics and Automation, and Medical Solutions. Prior period segment financial information has been recast to align with the new reportable segments . See Note 18 for segment results under the new reporting structure.
Foreign Currency Translation	Foreign Currency Translation The financial statements of the Company and its subsidiaries outside the U.S. have been translated into U.S. dollars. Assets and liabilities of foreign operations are translated from foreign currencies into U.S. dollars at the exchange rates in effect as of the balance sheet date. Revenue and expenses are translated at the weighted average exchange rates for the period. Accordingly, gains and losses resulting from translating foreign currency financial statements are reported as cumulative translation adjustments, a separate component of other comprehensive income (loss) in stockholders’ equity. Foreign currency transaction gains and losses from transactions denominated in currencies other than the functional currencies are included in the accompanying consolidated statements of operations.
Cash Equivalents	Cash Equivalents Cash equivalents are highly liquid investments with original maturities of three months or less. These investments are carried at cost, which approximates fair value.
Accounts Receivable and Credit Losses	Accounts Receivable and Credit Losses Accounts receivable are recorded at the invoiced amounts, net of an allowance for doubtful accounts based on the Company’s best estimate of probable credit losses. The Company is exposed to credit losses primarily through sales of its products. The Company assesses each customer’s ability to pay by conducting a credit review which includes consideration of established credit rating or an internal assessment of the customer’s creditworthiness based on an analysis of their payment history when a credit rating is not available. The Company monitors its credit exposure through active review of customer balances. The Company’s expected loss methodology for accounts receivable is developed through consideration of factors including, but not limited to, historical collection experience, current customer credit ratings, current customer financial condition, current and future economic and market condition, and age of the receivables. Charges related to credit losses are included in selling, general and administrative expenses and are recorded in the period that the outstanding receivables are determined to be uncollectible. Account balances are charged off against the allowance for doubtful accounts when the Company believes it is certain that the receivable will not be recovered. For the years ended December 31, 2024, 2023 and 2022, changes in the allowance for doubtful accounts were as follows (in thousands): 2024 2023 2022 Balance at beginning of year $ 571 $ 995 $ 556 Addition to credit loss expense 223 175 532 Write-offs, net of recoveries of amounts previously reserved ( 288 ) ( 612 ) ( 92 ) Exchange rate changes ( 1 ) 13 ( 1 ) Balance at end of year $ 505 $ 571 $ 995
Inventories	Inventories Inventories, which include materials and conversion costs, are stated at the lower of cost or net realizable value, using the first-in, first-out method. Cost includes the cost of purchased materials, inbound freight charges, customs duties, trade tariffs on imported materials and components, external and internal processing and applicable labor and overhead costs. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, storage, disposal and transportation. The Company periodically reviews inventory for potential excess or obsolescence by comparing on-hand quantities to the forecasted product demand and production requirements or trailing historical usage of each product. The Company records a charge to cost of revenue for the amount required to reduce the carrying value of inventories to their net realizable value.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are recorded at cost, adjusted for any impairment, less accumulated depreciation. The Company uses the straight-line method to calculate the depreciation of its property, plant and equipment over their estimated useful lives. Estimated useful lives range from 10 to 40 years for buildings and building improvements, and 3 to 10 years for machinery and equipment. Leasehold improvements are depreciated over the lesser of their useful lives or the lease terms, including any renewal period options that are reasonably assured of being exercised. Repairs and maintenance costs are expensed as incurred. Certain costs to develop software for internal use are capitalized when the criteria under Accounting Standards Codification (“ASC”) 350-40, “Internal-Use Software,” are met.
Goodwill, Intangible Assets and Long-Lived Assets	Goodwill, Intangible Assets and Long-Lived Assets Goodwill represents the excess of the purchase price over the tangible assets, identifiable intangible assets and assumed liabilities acquired in a business combination. Allocations of the purchase price are based upon a valuation of the fair value of assets acquired and liabilities assumed as of the acquisition date. Goodwill and indefinite-lived intangibles are not amortized but are assessed for impairment at least annually to ensure their current fair values exceed their carrying values. The Company’s most significant identifiable intangible assets are customer relationships, patents and developed technologies, trademarks and trade names. The fair values of identifiable intangible assets are based on valuations using an income approach, with estimates and assumptions provided by management of the acquired companies and the Company. The process for estimating the fair values of identifiable intangible assets requires the use of significant estimates and assumptions, including revenue growth rates, customer attrition rates, royalty rates, discount rates and projected future cash flows. All definite-lived intangible assets are amortized over the periods in which their economic benefits are expected to be realized. The Company reviews the useful life assumptions, including the classification of certain identifiable intangible assets as “indefinite-lived,” on a periodic basis to determine if changes in circumstances warrant revisions to them. Costs associated with patent and intellectual property applications, renewals or extensions are typically expensed as incurred. The Company evaluates its goodwill, intangible assets and other long-lived assets for impairment at the reporting unit level which is at least one level below the reportable segments.
Impairment Charges	Impairment Charges Impairment analyses of goodwill and indefinite-lived intangible assets are conducted in accordance with ASC 350, “Intangibles — Goodwill and Other.” The Company performs its goodwill impairment test annually at a reporting unit level, which is generally at least one level below a reportable segment, as of the beginning of the second quarter or more frequently if indicators are present or changes in circumstances suggest that an impairment may exist. The Company has the option of first performing a qualitative assessment to determine whether it is necessary to perform the quantitative impairment test. In performing the qualitative assessment, the Company reviews factors both specific to the reporting unit and to the Company as a whole, such as financial performance, macroeconomic conditions, industry and market considerations, and the fair value of each reporting unit as of the last valuation date. If the Company elects this option and believes, as a result of the qualitative assessment, that it is more likely than not that the carrying value of the reporting unit exceeds its fair value, the quantitative impairment test is required; otherwise, no further testing is required. Alternatively, the Company may elect to bypass the qualitative assessment and perform the quantitative impairment test instead. This approach requires a comparison of the carrying value of each reporting unit to its estimated fair value. The fair value of a reporting unit is estimated primarily using a discounted cash flow (“DCF”) method. If the carrying value of a reporting unit exceeds its fair value, an impairment charge is recorded for the difference. The Company assesses indefinite-lived intangible assets for impairment on an annual basis as of the beginning of the second quarter, and more frequently if indicators are present, or changes in circumstances suggest, that an impairment may exist. The Company will also reassess the continuing classification of these intangible assets as indefinite-lived when circumstances change such that the useful life may no longer be considered indefinite. The fair values of the Company’s indefinite-lived intangible assets are determined using the relief from royalty method, based on forecasted revenues and estimated royalty rates. If the fair value of an indefinite-lived intangible asset is less than its carrying value, an impairment charge is recorded for the difference between the carrying value and the fair value of the impaired asset. The carrying amounts of definite-lived long-lived assets are reviewed for impairment whenever changes in events or circumstances indicate that their carrying values may not be recoverable. The recoverability of the carrying value is generally determined by comparison of the carrying value of the asset group to its undiscounted future cash flows. When this test indicates a potential for impairment, a fair value assessment is performed. Once an impairment is determined and measured, an impairment charge is recorded for the difference between the carrying value and the fair value of the impaired asset.
Revenue Recognition	Revenue Recognition See Note 3 for the Company’s revenue recognition policy.
Leases	Leases The Company leases certain equipment and facilities. The Company determines if an arrangement is a lease at inception. Operating lease right-of-use assets are included in operating lease assets on the consolidated balance sheet. Operating lease liabilities are included in the current portion of operating lease liabilities and operating lease liabilities on the consolidated balance sheet based on the timing of future lease payments. Finance lease assets are included in property, plant and equipment. Finance lease liabilities are included in accrued expenses and other current liabilities and other liabilities on the consolidated balance sheet based on the timing of future lease payments. Leases with an initial term of twelve months or less are not recognized on the balance sheet. The Company recognizes lease expense on a straight-line basis over the lease term. Many of the Company’s lease arrangements include both lease (e.g., fixed payments including rent) and non-lease components (e.g., common-area maintenance or other property management costs). The Company accounts for lease and non-lease components separately. Most leases held by the Company do not provide an implicit rate. The Company determines the present value of future lease payments using its incremental borrowing rate for the same jurisdiction and term as the associated lease based on the information available at the lease commencement date. The Company has a centrally managed treasury function; therefore, the Company applies a portfolio approach for determining the incremental borrowing rate based on the applicable lease terms and the current economic environment.
Research and Development and Engineering Costs	Research and Development and Engineering Costs Research and development and engineering (“R&D”) expenses are primarily comprised of employee related expenses and cost of materials for R&D projects. These costs are expensed as incurred.
Share-Based Compensation	Share-Based Compensation The Company records expenses associated with share-based compensation awards to employees and directors based on the fair value of awards as of the grant date. For share-based compensation awards that vest over time based on employment or service, the associated expenses are based on the closing market price of the Company’s common shares on the date of grant and are recognized in the consolidated statements of operations ratably over the respective vesting periods, net of estimated forfeitures. The Company also grants share-based awards that vest based on employment and certain specified company performance conditions, market conditions or a hybrid of specified company performance conditions and market conditions. Share-based compensation expenses for awards with specified company performance conditions are based on the closing market price of the Company’s common shares on the date of grant and are recognized ratably over their vesting periods when it is probable that the performance targets are expected to be achieved based on management’s projections. Management’s projections are revised, if necessary, in subsequent periods when underlying factors change the evaluation of the probability of achieving the performance targets as well as the estimated levels of achievement. When the estimated achievement levels are adjusted at a later date, a cumulative adjustment to the share-based compensation expense previously recognized would be recorded in the period such determination is made. Accordingly, share-based compensation expenses for awards with specified company performance conditions may differ significantly from period to period based on changes to both the probability and the level of achievement against the performance targets. Share-based compensation expenses for awards with market conditions are based on the grant-date fair value, determined using the Monte-Carlo valuation model, and are recognized on a straight-line basis from the grant date to the end of the performance period. Compensation expenses for awards with market conditions will not be affected by the number of common shares that will ultimately be issued upon vesting at the end of the performance period. Share-based compensation expenses for awards with a hybrid of specified company performance conditions and market conditions are based on the grant-date fair value, determined using the Monte-Carlo valuation model, and are recognized ratably over their vesting periods when it is probable that the performance targets are expected to be achieved based on management’s projections. Management’s projections are revised, if necessary, in subsequent periods when underlying factors change the evaluation of the probability and the level of achieving the specified company performance targets. When the estimated achievement levels are adjusted at a later date, a cumulative adjustment to the share-based compensation expense previously recognized would be recorded in the period such determination is made. Accordingly, share-based compensation expenses for awards with hybrid conditions may differ significantly from period to period based on changes to both the probability and the level of achievement against the specified company performance targets. The Company also grants stock options to certain members of the executive management team to purchase common shares of the Company at a strike price equal to the closing market price of the Company’s common shares on the date of grant. Stock options typically vest over time based on employment. Share-based compensation expenses associated with stock options are based on the grant-date fair value, determined using the Black-Scholes option pricing model, and are recognized on a straight-line basis ratably over the respective vesting period.
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred and are included in selling, general and administrative expenses in the consolidated statement of operations. Advertising costs were not material for the years ended December 31, 2024, 2023 and 2022 .
Restructuring, Acquisition and Related Costs	Restructuring, Acquisition and Related Costs The Company accounts for its restructuring activities in accordance with the provisions of ASC 420, “Exit or Disposal Cost Obligations.” The Company makes assumptions related to the amounts of employee severance benefits and related costs, useful lives and residual value of long-lived assets, and discount rates. Estimates and assumptions are based on the best information available at the time the obligation is recognized. These estimates are reviewed and revised as facts and circumstances dictate. Acquisition related costs incurred to effect a business combination, including finders’ fees, legal, valuation and other professional or consulting fees, are expensed as incurred. Acquisition related costs also include expenses recognized under earn-out agreements in connection with acquisitions.
Accounting for Income Taxes	Accounting for Income Taxes The asset and liability method is used to account for income taxes. Under the asset and liability method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases. This method also requires the recognition of future tax benefits, such as net operating loss carryforwards, to the extent that it is more likely than not that such benefits will be realized. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the temporary differences are expected to be recovered or settled. A valuation allowance is established to reduce the deferred tax assets if it is more likely than not that some or all of the related tax benefits will not be realized in the future. Valuation allowances are reassessed periodically to determine whether it is more likely than not that the tax benefits will be realized in the future and if any existing valuation allowance should be released. The majority of the Company’s business activities are conducted through its subsidiaries outside of Canada. Earnings from these subsidiaries are generally indefinitely reinvested in the local businesses. Further, local laws and regulations may also restrict certain subsidiaries from paying dividends to their parents. Consequently, the Company generally does not accrue income taxes for the repatriation of such earnings in accordance with ASC 740, “Income Taxes.” To the extent that there are excess accumulated earnings that the Company intends to repatriate from any such subsidiaries, the Company recognizes deferred tax liabilities on such foreign earnings. The Company assesses its income tax positions and records tax benefits for all years subject to examination based on the evaluation of the facts, circumstances, and information available at each reporting date. For those tax positions with a greater than 50 percent likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information, the Company records a tax benefit. For those income tax positions that are not likely to be sustained, no tax benefit is recognized in the consolidated financial statements. The Company recognizes interest and penalties related to uncertain tax positions as part of the provision for income taxes.
Foreign Currency Contracts	Foreign Currency Contracts The Company uses foreign currency contracts as a part of its strategy to limit its exposures to fluctuations in foreign currency exchange rates related to foreign currency denominated monetary assets and liabilities. The time duration of these foreign currency contracts approximates the underlying foreign currency transaction exposures, generally less than three months. These foreign currency contracts are not designated as cash flow, fair value or net investment hedges. Changes in the fair value of these foreign currency contracts are recognized in income before income taxes.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The following table provides a brief description of recent Accounting Standards Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”): Standard Description Effective Date Effect on the Financial Statements or Other Significant Matters In October 2023, the FASB issued ASU 2023-06, “Disclosure Improvements: Codification Amendments in Response to SEC’s Disclosure Update and Simplification Initiative.” ASU 2023-06 clarifies or improves disclosure and presentation requirements of a variety of topics, which allow users to easily compare entities subject to the SEC’s existing disclosure requirements with those entities that were not previously subject to such requirements and align the requirements in the FASB Accounting Standards Codification with the SEC’s regulations. The effective date for each amendment in ASU 2023-06 will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. The Company is currently evaluating the impact of ASU 2023-06 on its consolidated financial statement disclosures. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280)-Improvements to Reportable Segment Disclosures.” ASU 2023-07 clarifies or improves financial reporting by requiring disclosure of incremental segment information. The amendments require disclosure, on an annual and interim basis for all public entities, significant segment expenses included in segment profit or loss, an amount and description of “other segment items” included in segment profit or loss, and an explanation of how reported segment profit or loss is assessed and allocated. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company adopted ASU 2023-07 beginning with its consolidated financial statement disclosures for the year ended December 31, 2024. See Note 18 “Segment Information” for additional information. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740) -Improvements to Income Tax Disclosures.” ASU 2023-09 provides more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid. The amendments in ASU 2023-09 are effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2023-09 on its consolidated financial statement disclosures. In November 2024, the FASB issued ASU 2024-03, “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses.” ASU 2024-03 improves financial reporting by requiring that public business entities disclose additional information about specific expense categories in the notes to financial statements at both interim and annual reporting periods. The amendments in ASU 2024-03 are effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of ASU 2024-03 on its consolidated financial statement disclosures.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Changes in Allowance for Doubtful Accounts	For the years ended December 31, 2024, 2023 and 2022, changes in the allowance for doubtful accounts were as follows (in thousands): 2024 2023 2022 Balance at beginning of year $ 571 $ 995 $ 556 Addition to credit loss expense 223 175 532 Write-offs, net of recoveries of amounts previously reserved ( 288 ) ( 612 ) ( 92 ) Exchange rate changes ( 1 ) 13 ( 1 ) Balance at end of year $ 505 $ 571 $ 995

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Net Revenues Disaggregated by the Capabilities of the Underlying Products and Technologies	The following table presents revenues disaggregated by the capabilities of the underlying products and technologies for the years ended December 31, 2024, 2023, and 2022, respectively (in thousands): Year Ended December 31, 2024 2023 2022 Precision Manufacturing $ 202,303 $ 225,750 $ 225,853 Robotics and Automation 288,317 273,470 308,237 Automation Enabling Technologies 490,620 499,220 534,090 Precision Medicine 249,872 178,840 144,018 Advanced Surgery 208,753 203,602 182,795 Medical Solutions 458,625 382,442 326,813 Total Revenue $ 949,245 $ 881,662 $ 860,903

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value of Intangible Assets	The fair value of intangible assets for Motion Solutions is comprised of the following: Estimated Fair Amortization Value Period Developed technologies $ 34,400 7 years Customer relationships 43,100 13 years Backlog 5,500 1 year Total $ 83,000
Summary of Pro Forma Financial Information	The pro forma information for all periods presented below includes the effect of business combination accounting resulting from the acquisition of Motion Solutions, including amortization of inventory fair value adjustments, amortization of intangible assets, interest expense on borrowings in connection with the acquisition, and the related tax effects, assuming that the acquisition had been consummated as of January 1, 2023. The pro forma financial information is presented for comparative purposes only and is not necessarily indicative of the results of operations that actually would have been achieved if the acquisition had taken place on January 1, 2023. Year Ended December 31, December 31, 2024 2023 Revenue $ 949,245 $ 966,655 Net income $ 66,495 $ 58,169
MPH Medical Devices S.R.O
Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation	The total purchase price for MPH was allocated as follows (in thousands): Purchase Price Allocation Cash $ 182 Accounts receivable 1,658 Inventories 957 Property, plant and equipment 12,094 Goodwill 9,863 Other assets 163 Total assets acquired 24,917 Accounts payable 562 Deferred tax liabilities 1,124 Other liabilities 664 Total liabilities assumed 2,350 Total assets acquired, net of liabilities assumed 22,567 Less: cash acquired 182 Total purchase price, net of cash acquired $ 22,385
Motion Solutions Parent Corp.
Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation	The final purchase price fo r Motion Solutions was allocated as follows (in thousands): Purchase Price Allocation Cash $ 776 Accounts receivable 8,515 Inventory 13,940 Property, plant and equipment 3,126 Operating lease assets 8,076 Intangible assets 83,000 Goodwill 106,761 Other assets 1,002 Total assets acquired 225,196 Accounts payable 5,305 Operating lease liabilities 8,514 Deferred tax liabilities 18,171 Other liabilities 1,230 Total liabilities assumed 33,220 Total assets acquired, net of liabilities assumed 191,976 Less: cash acquired 776 Purchase price, net of cash acquired $ 191,200

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2024
Equity [Abstract]
Components of Accumulated Other Comprehensive Loss	Changes in accumulated other comprehensive loss for the years ended December 31, 2024, 2023, and 2022, respectively, were as follows (in thousands): Total Accumulated Other Cumulative Pension Comprehensive Translation Liability Income (Loss) Adjustments Adjustments Balance at December 31, 2021 $ ( 12,866 ) $ ( 5,753 ) $ ( 7,113 ) Other comprehensive income (loss) ( 19,555 ) ( 18,674 ) ( 881 ) Amounts reclassified from accumulated other comprehensive loss (1) 412 — 412 Balance at December 31, 2022 ( 32,009 ) ( 24,427 ) ( 7,582 ) Other comprehensive income (loss) 6,951 7,823 ( 872 ) Amounts reclassified from accumulated other comprehensive loss (1) 1,020 — 1,020 Balance at December 31, 2023 ( 24,038 ) ( 16,604 ) ( 7,434 ) Other comprehensive income (loss) ( 6,764 ) ( 7,082 ) 318 Amounts reclassified from accumulated other comprehensive loss (1) 881 — 881 Balance at December 31, 2024 $ ( 29,921 ) $ ( 23,686 ) $ ( 6,235 ) (1) The amounts reclassified from accumulated other comprehensive loss were included in other income (expense) in the consolidated statements of operations.

Goodwill, Intangible Assets a_2

Goodwill, Intangible Assets and Impairment Charges (Tables)	12 Months Ended
	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Changes in Goodwill	The following table summarizes changes in goodwill during the year ended December 31, 2024 (in thousands): Amount Balance at beginning of year $ 484,507 Goodwill from current year acquisitions 106,761 Effect of foreign exchange rate changes ( 7,170 ) Balance at end of year $ 584,098
Goodwill by Reportable Segment	Goodwill by reportable segment as of December 31, 2024 was as follows (in thousands): Reportable Segment Automation Enabling Technologies Medical Solutions Total Goodwill $ 439,980 $ 295,347 $ 735,327 Accumulated impairment of goodwill ( 119,507 ) ( 31,722 ) ( 151,229 ) Total $ 320,473 $ 263,625 $ 584,098 Goodwill by reportable segment as of December 31, 2023 was as follows (in thousands): Reportable Segment Automation Enabling Technologies Medical Solutions Total Goodwill $ 433,525 $ 202,211 $ 635,736 Accumulated impairment of goodwill ( 119,507 ) ( 31,722 ) ( 151,229 ) Total $ 314,018 $ 170,489 $ 484,507
Intangible Assets	Intangible assets as of December 31, 2024 and 2023, respectively, are summarized as follows (dollar amounts in thousands): December 31, 2024 Gross Carrying Accumulated Net Carrying Weighted Average Remaining Life (Years) Amortizable intangible assets: Patents and developed technologies $ 218,867 $ ( 159,041 ) $ 59,826 7.6 Customer relationships 265,156 ( 158,938 ) 106,218 13.2 Trademarks and trade names 23,367 ( 16,594 ) 6,773 9.2 Amortizable intangible assets 507,390 ( 334,573 ) 172,817 11.1 Non-amortizable intangible assets: Trade names 13,027 — 13,027 Total $ 520,417 $ ( 334,573 ) $ 185,844 December 31, 2023 Gross Carrying Accumulated Net Carrying Weighted Average Remaining Life (Years) Amortizable intangible assets: Patents and developed technologies $ 187,092 $ ( 146,342 ) $ 40,750 9.6 Customer relationships 225,183 ( 142,478 ) 82,705 14.4 Trademarks and trade names 23,628 ( 15,088 ) 8,540 9.5 Amortizable intangible assets 435,903 ( 303,908 ) 131,995 12.6 Non-amortizable intangible assets: Trade names 13,027 — 13,027 Total $ 448,930 $ ( 303,908 ) $ 145,022
Amortization Expense of Intangible Assets	Amortization expense for the periods presented was as follows (in thousands): Year Ended December 31, 2024 2023 2022 Amortization expense – cost of revenue $ 14,773 $ 12,150 $ 13,270 Amortization expense – operating expenses 25,794 20,445 26,338 Total amortization expense $ 40,567 $ 32,595 $ 39,608
Estimated Future Amortization Expense	Estimated future amortization expense for each of the five succeeding years and thereafter is as follows (in thousands): Year Ending December 31, Cost of Operating Total 2025 $ 14,222 $ 22,173 $ 36,395 2026 13,384 19,880 33,264 2027 10,568 15,768 26,336 2028 8,837 12,697 21,534 2029 6,064 9,148 15,212 Thereafter 6,751 33,325 40,076 Total $ 59,826 $ 112,991 $ 172,817

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Values of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table summarizes the fair values of the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 (in thousands): Fair Value Quoted Price in Significant Other Significant Other Assets Prepaid expenses and other current assets: Foreign currency forward contracts $ 1,226 $ — $ 1,226 $ — $ 1,226 $ — $ 1,226 $ — Liabilities Accrued expenses and other current liabilities: Contingent considerations - Current $ 57 $ — $ — $ 57 Foreign currency forward contracts 1,401 — 1,401 — $ 1,458 $ — $ 1,401 $ 57 The following table summarizes the fair values of the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 (in thousands): Fair Value Quoted Price in Significant Other Significant Other Assets Cash equivalents $ 1,392 $ 1,392 $ — $ — Prepaid expenses and other current assets: Foreign currency forward contracts 379 — 379 — $ 1,771 $ 1,392 $ 379 $ — Liabilities Accrued expenses and other current liabilities: Contingent considerations - Current $ 48 $ — $ — $ 48 Foreign currency forward contracts 312 — 312 — Other liabilities: Contingent considerations - Long-term 311 — — 311 $ 671 $ — $ 312 $ 359

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings per Common Share	The following table sets forth the computation of basic and diluted earnings per common share (in thousands, except per share amounts): Year Ended December 31, 2024 2023 2022 Numerators: Net income $ 64,087 $ 72,878 $ 74,051 Denominators: Weighted average common shares outstanding— basic 35,950 35,844 35,652 Dilutive potential common shares 174 187 257 Weighted average common shares outstanding— diluted 36,124 36,031 35,909 Antidilutive potential common shares excluded from above 128 99 91 Earnings per Common Share: Basic $ 1.78 $ 2.03 $ 2.08 Diluted $ 1.77 $ 2.02 $ 2.06

Supplementary Balance Sheet I_2

Supplementary Balance Sheet Information (Tables)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Inventories	Inventories December 31, 2024 2023 Raw materials $ 92,198 $ 104,643 Work-in-process 24,719 21,010 Finished goods 27,327 23,311 Demo and consigned inventory 362 407 Total inventories $ 144,606 $ 149,371
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net December 31, 2024 2023 Cost: Land, buildings and improvements $ 99,217 $ 95,020 Machinery and equipment 125,694 117,487 Total cost 224,911 212,507 Accumulated depreciation ( 111,776 ) ( 103,058 ) Property, plant and equipment, net $ 113,135 $ 109,449
Summary of Depreciation Expense on Property, Plant and Equipment, Including Demo Units and Assets under Finance Leases	The following table summarizes depreciation expense on property, plant and equipment, including demo units and assets under finance leases (in thousands): Year Ended December 31, 2024 2023 2022 Depreciation expense $ 14,996 $ 14,017 $ 13,550
Accrued Expenses and Other Current Liabilities	The following table summarizes accrued expenses and other current liabilities as of the dates indicated (in thousands): December 31, 2024 2023 Accrued compensation and benefits $ 28,361 $ 32,703 Finance lease obligations 759 718 Contract liabilities, current portion 5,715 5,553 Accrued warranty 4,805 5,292 Other 20,691 16,790 Total $ 60,331 $ 61,056
Accrued Warranty	The following table summarizes changes in accrued warranty for the periods indicated (in thousands): Year Ended December 31, 2024 2023 2022 Balance at beginning of year $ 5,292 $ 5,127 $ 4,783 Provision charged to cost of revenue 1,140 2,445 3,071 Warranty liabilities acquired from acquisitions 76 — — Use of provision ( 1,680 ) ( 2,338 ) ( 2,615 ) Foreign currency exchange rate changes ( 23 ) 58 ( 112 ) Balance at end of year $ 4,805 $ 5,292 $ 5,127
Other Long Term Liabilities	The following table summarizes other long-term liabilities as of the dates indicated (in thousands): December 31, 2024 2023 Finance lease obligations $ 3,175 $ 3,934 Accrued contingent considerations and earn-outs — 311 Other 1,316 1,687 Total $ 4,491 $ 5,932

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt	Debt consisted of the following (in thousands): December 31, 2024 2023 Senior Credit Facilities – term loan $ 4,710 $ 4,994 Less: unamortized debt issuance costs ( 19 ) ( 26 ) Total current portion of long-term debt 4,691 4,968 Senior Credit Facilities – term loan 65,698 74,655 Senior Credit Facilities – revolving credit facility 348,751 278,404 Less: unamortized debt issuance costs ( 2,500 ) ( 3,655 ) Total long-term debt 411,949 349,404 Total Senior Credit Facilities $ 416,640 $ 354,372
Repayments of Outstanding Principal under Term Loan Facility	As of December 31, 2024, the outstanding principal under the Company’s term loan facility is scheduled to be repaid as follows (in thousands): Principal Amount 2025 $ 4,710 2026 4,710 2027 60,988 Total debt repayments $ 70,408

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Summary of Components of Lease Costs	The following table summarizes the components of lease costs included in the statements of operations for the periods indicated (in thousands): Year Ended December 31, 2024 2023 2022 Operating lease cost $ 12,109 $ 10,475 $ 10,387 Finance lease cost Amortization of right-of-use assets 602 602 602 Interest on lease liabilities 236 274 308 Variable lease cost 1,192 1,007 1,145 Total lease cost $ 14,139 $ 12,358 $ 12,442
Summary of Balance Sheet Information Related to Leases	The following table provides the details of balance sheet information related to leases as of the dates indicated (in thousands, except lease term and discount rate): December 31, 2024 2023 Operating leases: Operating lease right-of-use assets $ 42,908 $ 38,302 Current portion of operating lease liabilities $ 9,879 $ 8,189 Operating lease liabilities 40,548 37,345 Total operating lease liabilities $ 50,427 $ 45,534 Finance leases: Property, plant and equipment, gross $ 9,582 $ 9,582 Accumulated depreciation ( 6,874 ) ( 6,272 ) Finance lease assets included in property, plant and equipment, net $ 2,708 $ 3,310 Accrued expenses and other current liabilities $ 759 $ 718 Other liabilities 3,175 3,934 Total finance lease liabilities $ 3,934 $ 4,652 Weighted-average remaining lease term (in years): Operating leases 7.4 7.6 Finance leases 4.5 5.5 Weighted-average discount rate: Operating leases 4.82 % 4.84 % Finance leases 5.54 % 5.54 %
Summary of Cash Flow Information Related to Leases	The following table provides the details of cash flow information related to leases for the periods indicated (in thousands): Year Ended December 31, 2024 2023 2022 Cash paid for amounts included in lease liabilities: Operating cash flows from finance leases $ 236 $ 274 $ 308 Operating cash flows from operating leases $ 11,169 $ 7,826 $ 7,876 Financing cash flows from finance leases $ 718 $ 657 $ 599 Supplemental non-cash information: Right-of-use assets obtained in exchange for new operating lease liabilities (1) $ 14,237 $ 4,046 $ 4,757 Right-of-use assets obtained in exchange for new finance lease liabilities $ - $ - $ - (1)
Future Minimum Lease Payments Under Operating and Finance Leases	Future minimum lease payments under operating and finance leases expiring subsequent to December 31, 2024, including operating leases associated with facilities that have been vacated as a result of the Company’s restructuring actions, are summarized as follows (in thousands): Year Ending December 31, Operating Leases Finance Leases 2025 $ 11,581 $ 954 2026 10,445 979 2027 8,880 1,003 2028 6,084 1,003 2029 5,297 502 Thereafter 19,037 — Total minimum lease payments 61,324 4,441 Less: interest ( 10,897 ) ( 507 ) Present value of lease liabilities $ 50,427 $ 3,934

Stockholders_ Equity and Shar_2

Stockholders’ Equity and Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options Outstanding and Exercisable	The following table shows stock options that were outstanding and exercisable as of December 31, 2024 and the related weighted average exercise price, weighted average remaining contractual term and aggregate intrinsic value: Stock Options Weighted Weighted Aggregate Intrinsic Value (1) (In thousands) Outstanding as of December 31, 2023 132 $ 102.86 Granted 53 $ 157.48 Exercised ( 31 ) $ 14.13 Forfeited or expired ( 5 ) $ 156.61 Outstanding as of December 31, 2024 149 $ 139.17 4.63 years $ 2,449 Exercisable as of December 31, 2024 59 $ 116.07 3.22 years $ 2,247 Expected to vest as of December 31, 2024 90 $ 154.36 5.56 years $ 202 (1) The aggregate intrinsic value is calculated as the difference between the closing market price of $ 152.77 per common share as of December 31, 2024 and the exercise price of the stock options. It excludes the effect of stock options that have a zero or negative intrinsic value.
Schedule of Share Based Payment Award Stock Options Valuation Assumptions	The aggregate Black-Scholes fair value of $ 3.3 million for the stock options granted during the year ended December 31, 2024 was estimated using the following assumptions as of the grant date: Year Ended December 31, 2024 Expected option term in years 4.5 Expected volatility 40.3 % Risk-free interest rate 4.2 % Expected annual dividend yield —
Amended and Restated 2010 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-Based Compensation Expense Recorded In Operating Income	The table below summarizes share-based compensation expense recorded in operating income for the periods indicated (in thousands): Year Ended December 31, 2024 2023 2022 Selling, general and administrative $ 19,885 $ 21,963 $ 18,182 Research and development and engineering 2,346 2,031 2,414 Cost of revenue 1,076 1,594 2,512 Total share-based compensation expense $ 23,307 $ 25,588 $ 23,108
Restricted Stock Units and Deferred Stock Units Issued and Outstanding	The table below summarizes activities during the year ended December 31, 2024 relating to restricted and deferred stock units issued and outstanding under the Amended and Restated 2010 Incentive Plan: Restricted and Deferred Weighted Weighted Average Aggregate Intrinsic (1) Unvested at December 31, 2023 206 $ 143.97 Granted 118 $ 161.46 Vested ( 107 ) $ 141.88 Forfeited ( 19 ) $ 155.68 Unvested at December 31, 2024 198 $ 154.43 1.11 years $ 30,298 Expected to vest as of December 31, 2024 181 $ 153.94 1.11 years $ 27,697 The aggregate intrinsic value is calculated based on the fair value of $ 152.77 per common share as of December 31, 2024 due to the fact that the restricted and deferred stock units carry a $ 0 purchase price.
Performance-Based Restricted Stock Units Issued and Outstanding	The table below summarizes activities during the year ended December 31, 2024 relating to performance-based restricted stock units issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan: Performance (2) Weighted Weighted Average Aggregate (3) Unvested at December 31, 2023 205 $ 160.24 Granted 80 $ 177.06 Performance adjustments (1) 16 $ 166.64 Vested ( 49 ) $ 166.58 Forfeited ( 25 ) $ 168.78 Unvested at December 31, 2024 227 $ 165.13 1.15 years $ 34,667 Expected to vest as of December 31, 2024 190 $ 163.87 1.15 years $ 29,051 (1) The amount shown represents performance adjustments related to the performance-based awards vested during the year ended December 31, 2024. (2) The unvested PSUs are shown in this table at target payout. The number of shares vested reflects the number of shares earned and issued during the year. As of December 31, 2024 , the maximum number of PSUs available to be earned was approximately 443 t housand. (3) The aggregate intrinsic value is calculated based on the fair value of $ 152.77 pe r common share as of December 31, 2024 due to the fact that the performance stock units carry a $ 0 purchase price.
Schedule of Share Based Payment Award Performance Stock Awards Valuation Assumptions	The grant-date fair value of the hybrid PSUs granted during the year ended December 31, 2024 was estimated using the Monte-Carlo valuation model with the following assumptions: Year Ended December 31, 2024 Grant-date stock price $ 157.48 Expected volatility 36.90 % Risk-free interest rate 4.35 % Expected annual dividend yield — Weighted average fair value $ 180.98

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2024
Retirement Benefits [Abstract]
Net Periodic Pension Cost	The net periodic pension cost is included in other income (expense) in the consolidated statements of operations and consisted of the following components (in thousands): Year Ended December 31, 2024 2023 2022 Components of the net periodic pension cost: Interest cost $ 1,158 $ 1,185 $ 669 Expected return on plan assets ( 1,466 ) ( 1,440 ) ( 1,286 ) Amortization of actuarial losses 851 990 380 Amortization of prior service cost 30 30 32 Net periodic pension cost $ 573 $ 765 $ ( 205 )
Actuarial Assumptions used to Compute net Periodic Pension Cost and Funded Status	The actuarial assumptions used to compute the net periodic pension cost for the years ended December 31, 2024, December 31, 2023 and December 31, 2022, respectively, were as follows: Year Ended December 31, 2024 2023 2022 Weighted-average discount rate 4.5 % 4.8 % 1.8 % Weighted-average long-term rate of return on plan assets 5.1 % 5.3 % 3.2 % The actuarial assumptions used to compute the benefit obligations as of December 31, 2024 and December 31, 2023, respectively, were as follows: December 31, 2024 2023 Weighted-average discount rate 5.5 % 4.5 % Rate of inflation 3.1 % 2.8 %
Reconciliation of Benefit Obligations and Plan Assets of U.K. Plan	The following table provides a reconciliation of benefit obligations and plan assets of the U.K. Plan (in thousands): December 31, 2024 2023 Change in benefit obligation: Projected benefit obligation at beginning of year $ 26,259 $ 24,597 Interest cost 1,158 1,185 Actuarial (gains) losses (1) ( 3,393 ) 445 Benefits paid ( 1,374 ) ( 1,257 ) Prior service cost — — Foreign currency exchange rate changes ( 250 ) 1,289 Projected benefit obligation at end of year $ 22,400 $ 26,259 Accumulated benefit obligation at end of year $ 22,400 $ 26,259 Change in plan assets: Fair value of plan assets at beginning of year $ 29,351 $ 26,609 Actual return on plan assets ( 1,311 ) 1,575 Employer contributions 287 1,007 Benefits paid ( 1,374 ) ( 1,257 ) Foreign currency exchange rate changes ( 308 ) 1,417 Fair value of plan assets at end of year $ 26,645 $ 29,351 Funded status at end of year $ 4,245 $ 3,092 Amounts included in accumulated other comprehensive loss not yet recognized in net periodic pension cost: Net actuarial losses at beginning of year $ ( 7,772 ) $ ( 8,076 ) Net actuarial gains (losses) during the year 627 ( 310 ) Prior service cost arising during the year — — Amounts reclassified from accumulated other comprehensive loss to income before income taxes 881 1,020 Foreign currency exchange rate changes 67 ( 406 ) Net actuarial losses $ ( 6,197 ) $ ( 7,772 ) (1) Actuarial (gains)/losses in the U.K. Plan for the years ended December 31, 2024 and December 31, 2023 , respectively, primarily resulted from changes in the discount rate assumptions.
Expected Future Benefit Payments for Each of Next Five Years	The following table reflects the total expected benefit payments to plan participants for each of the next five years and the following five years in aggregate and have been estimated based on the same assumptions used to measure the Company’s benefit obligations as of December 31, 2024 (in thousands): Amount 2025 $ 1,298 2026 1,568 2027 1,642 2028 1,615 2029 1,613 2030-2034 9,678 Total $ 17,414
Summary of Fair Value of Plan Assets by Asset Category	The following table summarizes the fair values of Plan assets by asset category as of December 31, 2024 (in thousands): Asset Category Fair Value Quoted Prices in Active Markets Significant Other Observable Significant Other Unobservable Not Mutual Funds: Balanced (1) $ 5,118 $ — $ — $ — $ 5,118 Fixed income (2) 21,136 — — — 21,136 Cash 391 391 — — — Total $ 26,645 $ 391 $ — $ — $ 26,254 (1) This class comprises a diversified portfolio of global investments which seeks growth from equities and credit assets. It is allocated on a weighted average basis as follows: equities ( 5 %), bonds ( 90 %) and other assets ( 5 %). (2) This class comprises a diversified portfolio of global investments which seeks fixed income growth and is allocated on a weighted average basis as follows: bonds ( 79 %) and other assets ( 21 %). The following table summarizes the fair values of Plan assets by asset category as of December 31, 2023 (in thousands): Asset Category Fair Value Quoted Prices in Active Markets Significant Other Observable Significant Other Unobservable Not Mutual Funds: Balanced (1) $ 18,978 $ — $ — $ — $ 18,978 Fixed income (2) 10,129 — — — 10,129 Cash 244 244 — — — Total $ 29,351 $ 244 $ — $ — $ 29,107 (1) This class comprises a diversified portfolio of global investments which seeks growth from equities and credit assets. It is allocated on a weighted average basis as follows: equities ( 11 %), bonds ( 64 %) and other assets ( 25 %). (2) This class comprises a diversified portfolio of global investments which seeks fixed income growth and is allocated on a weighted average basis as follows: bonds ( 95 %) and other assets ( 5 %).

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Components of Income (Loss) Before Income Tax	Components of the Company’s income (loss) before income taxes for the periods indicated are as follows (in thousands): Year Ended December 31, 2024 2023 2022 Income (loss) before income taxes: Canada $ ( 7,425 ) $ ( 6,490 ) $ ( 4,946 ) U.S. 11,829 38,992 28,365 Other 74,662 51,246 63,740 Total $ 79,066 $ 83,748 $ 87,159
Components of Income Tax Provision (Benefit)	Components of the Company’s income tax provision (benefit) for the periods indicated are as follows (in thousands): Year Ended December 31, 2024 2023 2022 Current Canada $ 43 $ 59 $ 65 U.S. 11,198 14,424 17,205 Other 19,647 11,113 14,492 30,888 25,596 31,762 Deferred Canada — — — U.S. ( 12,612 ) ( 12,224 ) ( 15,370 ) Other ( 3,297 ) ( 2,502 ) ( 3,284 ) ( 15,909 ) ( 14,726 ) ( 18,654 ) Total $ 14,979 $ 10,870 $ 13,108
Reconciliation of Statutory Canadian Tax rate to Effective Tax Rate	The reconciliation of the statutory Canadian tax rate to the effective tax rate related to income before income taxes for the periods indicated is as follows (in thousands, except percentage data): Year Ended December 31, 2024 2023 2022 Statutory Canadian tax rate 29.00 % 29.00 % 29.00 % Expected income tax provision at Canadian statutory tax rate $ 22,929 $ 24,287 $ 25,276 U.S. state income taxes, net ( 168 ) 860 3 U.K. patent box ( 3,982 ) ( 4,247 ) ( 3,135 ) Foreign-derived intangible income ( 3,015 ) ( 4,500 ) ( 4,467 ) International tax rate differences ( 2,622 ) ( 4,804 ) ( 6,289 ) Tax credits ( 2,590 ) ( 3,602 ) ( 2,256 ) Change in valuation allowance 1,930 2,068 2,048 Disallowed compensation 1,678 2,571 2,138 Withholding and other taxes 854 300 789 Windfall benefit from share-based compensation ( 844 ) ( 1,685 ) ( 254 ) Transaction costs and permanent differences 360 423 140 Uncertain tax positions 244 90 ( 168 ) Provision to return differences 231 ( 1,056 ) ( 19 ) Acquisition contingent consideration adjustments ( 81 ) — ( 698 ) Statutory tax rate changes 55 165 — Reported income tax provision $ 14,979 $ 10,870 $ 13,108 Effective tax rate 18.9 % 13.0 % 15.0 %
Significant Components of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities as of December 31, 2024 and December 31, 2023 are as follows (in thousands): December 31, 2024 2023 Deferred tax assets: Capitalized R&D $ 34,777 $ 25,238 Inventories 15,451 12,497 Losses 12,606 11,274 Compensation related deductions 9,323 8,457 Operating lease liabilities 9,120 10,194 Tax credits 3,260 3,222 Business interest expense 1,483 - Other 974 724 Warranty 913 964 Total deferred tax assets 87,907 72,570 Valuation allowance on deferred tax assets ( 18,594 ) ( 16,674 ) Net deferred tax assets $ 69,313 $ 55,896 Deferred tax liabilities: Amortization $ ( 39,061 ) $ ( 24,436 ) Operating lease right-of-use assets ( 8,110 ) ( 9,198 ) Depreciation ( 6,307 ) ( 5,389 ) Deferred revenue ( 6,041 ) ( 5,316 ) Total deferred tax liabilities $ ( 59,519 ) $ ( 44,339 ) Net deferred tax assets (liabilities) $ 9,794 $ 11,557
Reconciliation of Total Amounts of Unrecognized Tax Benefits	The reconciliation of the total amounts of unrecognized tax benefits is as follows (in thousands): Balance at December 31, 2021 $ 4,797 Additions based on tax positions related to the current year 553 Additions for tax positions of prior years 34 Reductions to tax positions of prior years ( 563 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations ( 572 ) Settlements with tax authorities — Balance at December 31, 2022 4,249 Additions based on tax positions related to the current year 561 Additions for tax positions of prior years 47 Reductions to tax positions of prior years ( 22 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations ( 492 ) Settlements with tax authorities — Balance at December 31, 2023 4,343 Additions based on tax positions related to the current year 949 Additions for tax positions of prior years 204 Reductions to tax positions of prior years ( 42 ) Reductions to tax positions resulting from a lapse of the applicable statute of limitations ( 615 ) Settlements with tax authorities — Balance at December 31, 2024 $ 4,839
Income Tax Returns to be Reviewed	The Company’s income tax returns may be reviewed by tax authorities in the following countries for the following periods under the appropriate statute of limitations: United States 2019 - Present Canada 2017 - Present United Kingdom 2023 - Present Germany 2017 - Present Czech Republic 2022 - Present China 2014 - Present Japan 2019 - Present

Restructuring Acquisition and R

Restructuring Acquisition and Related Costs (Tables)	12 Months Ended
	Dec. 31, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring, Acquisition and Related Costs	The following table summarizes restructuring, acquisition and related costs recorded in the accompanying consolidated statements of operations for the periods indicated (in thousands): Year Ended December 31, 2024 2023 2022 2024 restructuring $ 10,486 $ — $ — 2022 restructuring — 8,961 1,414 2020 restructuring — 2,853 2,994 Total restructuring related charges $ 10,486 $ 11,814 $ 4,408 Acquisition and related charges $ 3,223 $ 1,000 $ ( 24 ) Total restructuring, acquisition and related costs $ 13,709 $ 12,814 $ 4,384
Summary of Restructuring Charges by Reportable Segment	The following table summarizes restructuring costs associated with the 2024 restructuring program by reportable segment (in thousands): Year Ended December 31, Cumulative Costs as of 2024 December 31, 2024 Automation Enabling Technologies $ 3,198 $ 3,198 Medical Solutions 6,769 6,769 Unallocated costs 519 519 Total $ 10,486 $ 10,486 The following table summarizes restructuring costs associated with the 2022 restructuring program by reportable segment (in thousands): Year Ended December 31, Cumulative Costs as of 2023 2022 December 31, 2024 Automation Enabling Technologies $ 6,771 $ 1,358 $ 8,129 Medical Solutions 1,359 56 1,415 Unallocated costs 831 — 831 Total $ 8,961 $ 1,414 $ 10,375 The following table summarizes restructuring costs associated with the 2020 restructuring program by reportable segment (in thousands): Year Ended December 31, Cumulative Costs as of 2023 2022 December 31, 2024 Automation Enabling Technologies $ 2,853 $ 2,775 $ 13,827 Medical Solutions — 217 2,716 Unallocated costs — 2 173 Total $ 2,853 $ 2,994 $ 16,716
Summary of Accrual Activities by Components Related to Company's Restructuring Programs	The following table summarizes the accrual activities, by component, related to the Company’s restructuring programs recorded in the accompanying consolidated balance sheets (in thousands): Total Employee Related Facility Related Other Balance at December 31, 2022 $ 2,410 $ 1,902 $ 452 $ 56 Restructuring charges 11,814 5,832 4,452 1,530 Cash payments ( 8,867 ) ( 6,675 ) ( 1,379 ) ( 813 ) Non-cash write-offs and other adjustments (1) ( 2,507 ) ( 21 ) ( 1,845 ) ( 641 ) Balance at December 31, 2023 2,850 1,038 1,680 132 Restructuring charges 10,486 8,165 2,034 287 Cash payments ( 5,898 ) ( 3,469 ) ( 2,007 ) ( 422 ) Non-cash write-offs and other adjustments ( 687 ) ( 44 ) ( 646 ) 3 Balance at December 31, 2024 $ 6,751 $ 5,690 $ 1,061 $ — (1) Non-cash write-offs and other adjustments included impairment of assets amounting to $ 2.5 million.

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Results of Operations, Depreciation and Amortization Expenses, Accounts Receivable and Inventory by Reportable Segments	Results of operations, depreciation and amortization expenses, accounts receivable and inventories by reportable segments for the periods indicated were as follows (in thousands): Year Ended December 31, 2024 Automation Enabling Technologies Medical Solutions Total Revenue $ 490,620 $ 458,625 $ 949,245 Cost of revenue 249,364 260,176 Amortization of purchased intangible assets 6,281 8,492 Gross profit 234,975 189,957 424,932 Research and development and engineering 39,026 57,110 Selling, general and administrative 75,423 53,798 Amortization of purchased intangible assets 11,207 14,587 Restructuring, acquisition, and related costs 2,916 6,930 Segment operating income 106,403 57,532 163,935 Unallocated costs — — ( 53,351 ) Interest income (expense), net — — ( 31,489 ) Other income (expense), net — — ( 29 ) Income before income taxes $ 106,403 $ 57,532 $ 79,066 Year Ended December 31, 2023 Automation Enabling Technologies Medical Solutions Total Revenue $ 499,220 $ 382,442 $ 881,662 Cost of revenue 257,377 206,550 Amortization of purchased intangible assets 7,045 5,105 Gross profit 234,798 170,787 405,585 Research and development and engineering 43,024 49,440 Selling, general and administrative 72,860 49,227 Amortization of purchased intangible assets 12,942 7,503 Restructuring, acquisition, and related costs 9,691 1,359 Segment operating income 96,281 63,258 159,539 Unallocated costs — — ( 49,043 ) Interest income (expense), net — — ( 25,818 ) Other income (expense), net — — ( 930 ) Income before income taxes $ 96,281 $ 63,258 $ 83,748 Year Ended December 31, 2022 Automation Enabling Technologies Medical Solutions Total Revenue $ 534,090 $ 326,813 $ 860,903 Cost of revenue 281,689 181,908 Amortization of purchased intangible assets 7,396 5,874 Gross profit 245,005 139,031 384,036 Research and development and engineering 45,444 40,416 Selling, general and administrative 73,554 42,634 Amortization of purchased intangible assets 17,662 8,676 Restructuring, acquisition, and related costs 2,920 432 Segment operating income 105,425 46,873 152,298 Unallocated costs — — ( 49,219 ) Interest income (expense), net — — ( 15,616 ) Other income (expense), net — — ( 304 ) Income before income taxes $ 105,425 $ 46,873 $ 87,159 Year Ended December 31, 2024 2023 2022 Depreciation and Amortization Expenses Automation Enabling Technologies $ 23,873 $ 26,680 $ 32,334 Medical Solutions 29,818 18,578 20,425 Unallocated 1,872 1,354 399 Total $ 55,563 $ 46,612 $ 53,158 December 31, 2024 2023 Accounts Receivable Automation Enabling Technologies $ 70,829 $ 71,131 Medical Solutions 80,197 68,279 Total accounts receivable $ 151,026 $ 139,410 Inventories Automation Enabling Technologies $ 89,009 $ 103,326 Medical Solutions 55,597 46,045 Total inventories $ 144,606 $ 149,371 Total segment assets $ 295,632 $ 288,781 December 31, 2024 2023 Total Assets Total segment assets $ 295,632 $ 288,781 Cash and cash equivalents 113,989 105,051 Prepaid income taxes and income taxes receivable 8,076 8,105 Prepaid expenses and other current assets 15,951 13,360 Property, plant and equipment, net 113,135 109,449 Operating lease assets 42,908 38,302 Deferred tax assets 22,887 27,862 Other assets 5,991 5,617 Intangible assets, net 185,844 145,022 Goodwill 584,098 484,507 Total $ 1,388,511 $ 1,226,056
Schedule of Geographic Revenue	The Company aggregates geographic revenue based on the customer location where products are shipped. Revenue from these customers is summarized for the periods indicated as follows (in thousands, except percentage data): Year Ended December 31, 2024 2023 2022 Revenue % of Total Revenue % of Total Revenue % of Total United States $ 487,114 51.3 % $ 418,265 47.4 % $ 372,345 43.3 % Germany 123,244 13.0 128,229 14.5 133,728 15.5 Rest of Europe 128,871 13.6 137,027 15.6 137,803 16.0 China 84,562 8.9 73,444 8.3 97,178 11.3 Rest of Asia-Pacific 107,054 11.3 105,350 12.0 101,596 11.8 Other 18,400 1.9 19,347 2.2 18,253 2.1 Total $ 949,245 100.0 % $ 881,662 100.0 % $ 860,903 100.0 %
Summary of Long-lived Assets	Long-lived assets consist of property, plant and equipment, net, and are aggregated based on the location of the assets. A summary of these long-lived assets is as follows (in thousands): December 31, 2024 2023 United States $ 25,207 $ 23,899 Germany 31,684 35,318 U.K. 34,078 28,734 Czech Republic 15,345 14,100 China 6,561 7,114 Rest of World 260 284 Total $ 113,135 $ 109,449
Revenue By End Market	The Company primarily operates in two end markets: the medical market and the advanced industrial market. Revenue by end market was approximately as follows: Year Ended December 31, 2024 2023 2022 Medical 55 % 54 % 49 % Advanced Industrial 45 % 46 % 51 % Total 100 % 100 % 100 %

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2024 Segment	Dec. 31, 2024 Segment
Significant Accounting Policies [Line Items]
Number of Reportable Segments	2	2
Maximum
Significant Accounting Policies [Line Items]
Cash equivalents original maturity period		3 months
Maximum | Buildings and improvements
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives	40 years	40 years
Maximum | Machinery and Equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives	10 years	10 years
Minimum | Buildings and improvements
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives	10 years	10 years
Minimum | Machinery and Equipment
Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives	3 years	3 years

Changes in Allowance for Doubtf

Changes in Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	$ 571	$ 995	$ 556
Addition to credit loss expense	223	175	532
Write-offs, net of recoveries of amounts previously reserved	(288)	(612)	(92)
Exchange rate changes	(1)	13	(1)
Balance at end of year	$ 505	$ 571	$ 995

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revenue [Line Items]
Incremental direct costs of obtaining a contract, practical expedient	true
Effects of a financing component, practical expedient	true
Remaining performance obligation for contracts, optional exemption	true
Contract liabilities	$ 5.9	$ 5.8
Revenue recognized	$ 4.3
Warranties
Revenue [Line Items]
Standard product warranty description	The Company generally provides warranties for its products. The standard warranty period is typically 12 months to 36 months. The standard warranty period for product sales is accounted for under the provisions of ASC 450, “Contingencies,” as the Company has the ability to ascertain the likelihood of the liability and can reasonably estimate the amount of the liability.
Minimum | Warranties
Revenue [Line Items]
Standard warranty period on products	12 months
Maximum | Warranties
Revenue [Line Items]
Standard warranty period on products	36 months
Maximum | Professional Services
Revenue [Line Items]
Percentage of revenue for professional services	3%
Duration of professional services performed under customer contract	1 month

Revenue - Schedule of Net Reven

Revenue - Schedule of Net Revenues Disaggregated by the Capabilities of the Underlying Products and Technologies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total Revenue	$ 949,245	$ 881,662	$ 860,903
Automation Enabling Technologies
Disaggregation of Revenue [Line Items]
Total Revenue	490,620	499,220	534,090
Automation Enabling Technologies | Precision Manufacturing
Disaggregation of Revenue [Line Items]
Total Revenue	202,303	225,750	225,853
Automation Enabling Technologies | Robotics and Automation
Disaggregation of Revenue [Line Items]
Total Revenue	288,317	273,470	308,237
Medical Solutions
Disaggregation of Revenue [Line Items]
Total Revenue	458,625	382,442	326,813
Medical Solutions | Precision Medicine
Disaggregation of Revenue [Line Items]
Total Revenue	249,872	178,840	144,018
Medical Solutions | Advanced Surgery
Disaggregation of Revenue [Line Items]
Total Revenue	$ 208,753	$ 203,602	$ 182,795

Business Combinations - 2024 Ac

Business Combinations - 2024 Acquisitions - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended			12 Months Ended
	Jan. 02, 2024	Dec. 31, 2024	Sep. 27, 2024	Jun. 28, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Increase in inventory					$ (4,781)	$ (11,366)	$ 48,547
Goodwill		$ 584,098			584,098	484,507
Amortization of inventory fair value adjustments					2,777		160
Amortization of purchased intangible assets					25,794	$ 20,445	$ 26,338
Motion Solutions Parent Corp.
Business Acquisition [Line Items]
Date of acquisition	Jan. 02, 2024
Total purchase price, net of cash acquired	$ 192,000
Increase in inventory		400	$ 400	$ 400
Increase in intangible assets		2,600	2,600	2,600
Increase in other assets		400	400	400
Increase in deferred tax liabilities		600	600	600
Increase in other liabilities		800	800	800
Decrease in goodwill		$ 2,000	$ 2,000	$ 2,000
Purchase price	191,976
Intangible assets	83,000
Goodwill	$ 106,761
Revenues					82,400
Income before income taxes					200
Amortization of inventory fair value adjustments					2,800
Amortization of purchased intangible assets					$ 13,000

Business Combinations - 2022 Ac

Business Combinations - 2022 Acquisitions - Additional Information (Details) $ in Thousands, € in Millions			12 Months Ended
	Aug. 11, 2022 USD ($)	Aug. 11, 2022 EUR (€)	Dec. 31, 2024 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Purchase price			$ 191,200	$ 21,565
Contingent consideration adjustments			(282)	(1,443)
Goodwill			$ 584,098		$ 484,507
MPH Medical Devices S.R.O
Business Acquisition [Line Items]
Percentage of shares acquired	100%
Total purchase price, net of cash acquired	$ 22,400	€ 21.8
Business acquisition, date of acquisition	Aug. 11, 2022	Aug. 11, 2022
Goodwill	$ 9,863
Revenues				5,200
Income (loss) before income taxes				$ 400

Business Combinations - Acquisi

Business Combinations - Acquisition Costs - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Recognized acquisition costs	$ 3,223,000	$ 1,000,000	$ (24,000)
Current Year Closed Acquisition
Business Acquisition [Line Items]
Recognized acquisition costs	$ 1,000,000	$ 0	$ 1,000,000

Business Combinations - Summary

Business Combinations - Summary of Fair Values of Assets Acquired and Liabilities Assumed Purchase Price Allocation (Details) - USD ($) $ in Thousands	Jan. 02, 2024	Aug. 11, 2022	Dec. 31, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill			$ 584,098	$ 484,507
MPH Medical Devices S.R.O
Business Acquisition [Line Items]
Cash		$ 182
Accounts receivable		1,658
Inventories		957
Property, plant and equipment		12,094
Goodwill		9,863
Other assets		163
Total assets acquired		24,917
Accounts payable		562
Deferred tax liabilities		1,124
Other liabilities		664
Total liabilities assumed		2,350
Total assets acquired, net of liabilities assumed		22,567
Less: cash acquired		182
Purchase price, net of cash acquired		$ 22,385
Motion Solutions Parent Corp.
Business Acquisition [Line Items]
Cash	$ 776
Accounts receivable	8,515
Inventories	13,940
Property, plant and equipment	3,126
Operating lease assets	8,076
Intangible assets	83,000
Goodwill	106,761
Other assets	1,002
Total assets acquired	225,196
Accounts payable	5,305
Operating lease liabilities	8,514
Deferred tax liabilities	18,171
Other liabilities	1,230
Total liabilities assumed	33,220
Total assets acquired, net of liabilities assumed	191,976
Less: cash acquired	776
Purchase price, net of cash acquired	$ 191,200

Business Combinations - Fair Va

Business Combinations - Fair Value of Intangible Assets (Details) - Motion Solutions Parent Corp. $ in Thousands	Jan. 02, 2024 USD ($)
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value	$ 83,000
Developed Technologies
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value	$ 34,400
Intangible Assets Weighted Average Amortization Period	7 years
Customer Relationships
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value	$ 43,100
Intangible Assets Weighted Average Amortization Period	13 years
Backlog
Acquired Finite Lived Intangible Assets [Line Items]
Intangible Assets Estimated Fair Value	$ 5,500
Intangible Assets Weighted Average Amortization Period	1 year

Business Combinations - Summa_2

Business Combinations - Summary of Pro Forma Financial Information (Details) - Motion Solutions Parent Corp [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Revenue	$ 949,245	$ 966,655
Net income	$ 66,495	$ 58,169

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 673,460
Ending Balance	745,698	$ 673,460
Total Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(24,038)	(32,009)	$ (12,866)
Other comprehensive income (loss)	(6,764)	6,951	(19,555)
Amounts reclassified from accumulated other comprehensive loss	881	1,020	412
Ending Balance	(29,921)	(24,038)	(32,009)
Cumulative Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(16,604)	(24,427)	(5,753)
Other comprehensive income (loss)	(7,082)	7,823	(18,674)
Ending Balance	(23,686)	(16,604)	(24,427)
Pension Liability Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(7,434)	(7,582)	(7,113)
Other comprehensive income (loss)	318	(872)	(881)
Amounts reclassified from accumulated other comprehensive loss	881	1,020	412
Ending Balance	$ (6,235)	$ (7,434)	$ (7,582)

Summary of Changes in Goodwill

Summary of Changes in Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Balance at beginning of the period	$ 484,507
Goodwill from current year acquisitions	106,761
Effect of foreign exchange rate changes	(7,170)
Balance at end of the period	$ 584,098

Goodwill By Reportable Segment

Goodwill By Reportable Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Line Items]
Goodwill	$ 735,327	$ 635,736
Accumulated impairment of goodwill	(151,229)	(151,229)
Total	584,098	484,507
Medical Solutions
Goodwill [Line Items]
Goodwill	295,347	202,211
Accumulated impairment of goodwill	(31,722)	(31,722)
Total	263,625	170,489
Automation Enabling Technologies
Goodwill [Line Items]
Goodwill	439,980	433,525
Accumulated impairment of goodwill	(119,507)	(119,507)
Total	$ 320,473	$ 314,018

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	$ 507,390	$ 435,903
Amortizable intangible assets, accumulated amortization	(334,573)	(303,908)
Amortizable intangible assets, net carrying amount	$ 172,817	$ 131,995
Amortizable intangible assets, weighted average remaining life (Years)	11 years 1 month 6 days	12 years 7 months 6 days
Non-amortizable intangible assets	$ 13,027	$ 13,027
Gross carrying amount	520,417	448,930
Net carrying amount	185,844	145,022
Patents and Developed Technologies
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	218,867	187,092
Amortizable intangible assets, accumulated amortization	(159,041)	(146,342)
Amortizable intangible assets, net carrying amount	$ 59,826	$ 40,750
Amortizable intangible assets, weighted average remaining life (Years)	7 years 7 months 6 days	9 years 7 months 6 days
Customer Relationships
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	$ 265,156	$ 225,183
Amortizable intangible assets, accumulated amortization	(158,938)	(142,478)
Amortizable intangible assets, net carrying amount	$ 106,218	$ 82,705
Amortizable intangible assets, weighted average remaining life (Years)	13 years 2 months 12 days	14 years 4 months 24 days
Trademarks and Trade Names
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	$ 23,367	$ 23,628
Amortizable intangible assets, accumulated amortization	(16,594)	(15,088)
Amortizable intangible assets, net carrying amount	$ 6,773	$ 8,540
Amortizable intangible assets, weighted average remaining life (Years)	9 years 2 months 12 days	9 years 6 months

Amortization Expense of Intangi

Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense – cost of revenue	$ 14,773	$ 12,150	$ 13,270
Amortization expense - operating expenses	25,794	20,445	26,338
Total amortization expense	$ 40,567	$ 32,595	$ 39,608

Estimated Future Amortization E

Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
2025	$ 36,395
2026	33,264
2027	26,336
2028	21,534
2029	15,212
Thereafter	40,076
Amortizable intangible assets, net carrying amount	172,817	$ 131,995
Cost of Revenue
Finite Lived Intangible Assets [Line Items]
2025	14,222
2026	13,384
2027	10,568
2028	8,837
2029	6,064
Thereafter	6,751
Amortizable intangible assets, net carrying amount	59,826
Operating Expenses
Finite Lived Intangible Assets [Line Items]
2025	22,173
2026	19,880
2027	15,768
2028	12,697
2029	9,148
Thereafter	33,325
Amortizable intangible assets, net carrying amount	$ 112,991

Goodwill, Intangible Assets a_3

Goodwill, Intangible Assets and Impairment Charges - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Line Items]
Impairment of goodwill and intangible assets	$ 0	$ 0	$ 0
Automation Enabling Technologies
Goodwill [Line Items]
Portion of goodwill allocated to reportable segments	9,400,000
Medical Solutions
Goodwill [Line Items]
Portion of goodwill allocated to reportable segments	$ 22,700,000

Fair Values of Assets and Liabi

Fair Values of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value Measurements Recurring - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets
Cash equivalents		$ 1,392
Assets, fair value	$ 1,458	1,771
Liabilities
Liabilities, fair value	1,226	671
Prepaid Expenses and Other Current Assets
Assets
Foreign currency forward contracts	1,226	379
Accrued Expenses and Other Current Liabilities
Liabilities
Contingent considerations - Current	57	48
Foreign currency forward contracts	1,401	312
Other Liabilities
Liabilities
Contingent considerations - Long-term		311
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Cash equivalents		1,392
Assets, fair value		1,392
Significant Other Observable Inputs (Level 2)
Assets
Assets, fair value	1,401	379
Liabilities
Liabilities, fair value	1,226	312
Significant Other Observable Inputs (Level 2) | Prepaid Expenses and Other Current Assets
Assets
Foreign currency forward contracts	1,226	379
Significant Other Observable Inputs (Level 2) | Accrued Expenses and Other Current Liabilities
Liabilities
Foreign currency forward contracts	1,401	312
Significant Other Unobservable Inputs (Level 3)
Liabilities
Liabilities, fair value	57	359
Significant Other Unobservable Inputs (Level 3) | Accrued Expenses and Other Current Liabilities
Liabilities
Contingent considerations - Current	$ 57	48
Significant Other Unobservable Inputs (Level 3) | Other Liabilities
Liabilities
Contingent considerations - Long-term		$ 311

Foreign Currency Contracts - Ad

Foreign Currency Contracts - Additional Information (Details) - Foreign Currency Forward Contracts - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Notional amount of foreign currency forward contracts	$ 187,400,000	$ 172,300,000
Net gain (loss) on foreign currency forward contracts	200,000
Foreign Exchange Transaction Gains (Losses)
Derivative [Line Items]
Net gain (loss) on foreign currency forward contracts	$ 4,900,000	2,500,000	$ (2,400,000)
Maximum
Derivative [Line Items]
Net gain (loss) on foreign currency forward contracts		$ 100,000

Computation of Basic and Dilute

Computation of Basic and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerators:
Net income	$ 64,087	$ 72,878	$ 74,051
Denominators:
Weighted average common shares outstanding—basic	35,950	35,844	35,652
Dilutive potential common shares	174	187	257
Weighted average common shares outstanding— diluted	36,124	36,031	35,909
Antidilutive potential common shares excluded from above	128	99	91
Earnings per Common Share:
Basic	$ 1.78	$ 2.03	$ 2.08
Diluted	$ 1.77	$ 2.02	$ 2.06

Earnings per Common Share - Add

Earnings per Common Share - Additional Information (Details) - shares shares in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Attainment-based and Hybrid PSUs
Computation Of Earnings Per Share [Line Items]
Contingently issuable shares excluded from calculation of weighted average common shares outstanding	150	104
Attainment-based PSUs
Computation Of Earnings Per Share [Line Items]
Contingently issuable shares excluded from calculation of weighted average common shares outstanding			99

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 92,198	$ 104,643
Work-in-process	24,719	21,010
Finished goods	27,327	23,311
Demo and consigned inventory	362	407
Total inventories	$ 144,606	$ 149,371

Property Plant and Equipment, N

Property Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 224,911	$ 212,507
Accumulated depreciation	(111,776)	(103,058)
Property, plant and equipment, net	113,135	109,449
Land, Buildings and Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	99,217	95,020
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 125,694	$ 117,487

Summary of Depreciation Expense

Summary of Depreciation Expense on Property, Plant and Equipment, Including Demo Units and Assets under Finance Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Depreciation expense	$ 14,996	$ 14,017	$ 13,550

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Accrued compensation and benefits	$ 28,361	$ 32,703
Finance lease obligations	759	718
Contract liabilities, current portion	5,715	5,553
Accrued warranty	4,805	5,292	$ 5,127	$ 4,783
Other	20,691	16,790
Total	$ 60,331	$ 61,056

Accrued Warranty (Details)

Accrued Warranty (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Product Warranties Disclosures [Abstract]
Balance at beginning of year	$ 5,292	$ 5,127	$ 4,783
Provision charged to cost of revenue	1,140	2,445	3,071
Warranty liabilities acquired from acquisitions	76
Use of provision	(1,680)	(2,338)	(2,615)
Foreign currency exchange rate changes	(23)	58	(112)
Balance at end of year	$ 4,805	$ 5,292	$ 5,127

Other Long Term Liabilities (De

Other Long Term Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Finance lease obligations	$ 3,175	$ 3,934
Accrued contingent considerations and earn-outs	0	311
Other	1,316	1,687
Total	$ 4,491	$ 5,932

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total current portion of long-term debt	$ 4,691	$ 4,968
Total long-term debt	411,949	349,404
Total Senior Credit Facilities	416,640	354,372
Term Loan
Debt Instrument [Line Items]
Current portion of long-term debt, Gross	4,710	4,994
Long-term debt, Gross	65,698	74,655
Total Senior Credit Facilities	70,408
Term Loan And Revolving Credit Facility
Debt Instrument [Line Items]
Less: unamortized debt issuance costs	(19)	(26)
Less: unamortized debt issuance costs	(2,500)	(3,655)
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, Gross	$ 348,751	$ 278,404

Debt - Additional Information (

Debt - Additional Information (Details)		1 Months Ended	12 Months Ended
	Dec. 31, 2019 USD ($)	Mar. 31, 2020 EUR (€)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Mar. 10, 2022 USD ($)	Oct. 05, 2021 USD ($)	Mar. 27, 2020 USD ($)	Dec. 31, 2019 EUR (€)
Debt Instrument [Line Items]
Unused commitment fees percentage			0.28%
Maximum consolidated leverage ratio			350%
Third amended and restated credit agreement, covenants			The Third Amended and Restated Credit Agreement also requires the Company to satisfy certain financial covenants, such as maintaining a minimum consolidated fixed charge coverage ratio of 1.50:1.00 and a maximum consolidated leverage ratio of 3.50:1.00. The maximum consolidated leverage ratio will increase to 4.00:1.00 for four consecutive quarters following an acquisition with an aggregate consideration greater than or equal to $50.0 million
Minimum consolidated fixed charge coverage ratio			150%
Debt weighted average interest rate			5.62%
Non-cash interest expense related to amortization of deferred financing costs			$ 1,200,000	$ 1,200,000	$ 1,200,000
Base Rate | Minimum
Debt Instrument [Line Items]
Variable interest rate			0%
Base Rate | Maximum
Debt Instrument [Line Items]
Variable interest rate			0.75%
SOFR Loans, Alternative Currency Loans, and Letter of Credit Rate | Minimum
Debt Instrument [Line Items]
Variable interest rate			0.75%
SOFR Loans, Alternative Currency Loans, and Letter of Credit Rate | Maximum
Debt Instrument [Line Items]
Variable interest rate			1.75%
Third Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 450,000,000
Third Amended and Restated Credit Agreement | Acquisition with Aggregate Consideration Greater than or Equal to $50 million | Four Consecutive Quarters Following Designated Acquisition
Debt Instrument [Line Items]
Maximum consolidated leverage ratio			400%
Debt instrument, covenant, required business acquisition consideration, minimum			$ 50,000,000
Third Amended and Restated Credit Agreement | First Amendment Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 495,000,000
Increased in line of credit facility								145,000,000
Line of credit facility accordion potential feature								$ 200,000,000
Third Amended and Restated Credit Agreement | Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 100,000,000								€ 90,200,000
Senior credit facilities maturity period	5 years
Debt instrument, frequency of periodic payment		quarterly
Quarterly installments payable on term loan | €		€ 1,100,000
Third Amended and Restated Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 350,000,000
Senior credit facilities maturity period	5 years
Senior credit facilities, maturity month and year			2027-03
Third Amended and Restated Credit Agreement | Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Unused commitment fees percentage			0.20%
Third Amended and Restated Credit Agreement | Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Unused commitment fees percentage			0.30%
Third Amended and Restated Credit Agreement | Fourth Amendment Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 695,000,000
Increased in line of credit facility							200,000,000
Line of credit facility accordion potential feature							$ 200,000,000
Third Amended and Restated Credit Agreement | Fifth Amendment Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility accordion potential feature						$ 350,000,000
Third Amended and Restated Credit Facility | Dividend Payments and Stock Repurchases
Debt Instrument [Line Items]
Maximum consolidated leverage ratio			325%
Third Amended and Restated Credit Facility | Dividend Payments and Stock Repurchases | Four Consecutive Quarters Following Designated Acquisition
Debt Instrument [Line Items]
Maximum consolidated leverage ratio			375%
Debt instrument, covenant, required business acquisition consideration, minimum			$ 50,000,000
Third Amended and Restated Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Additional borrowings capacity			$ 346,200,000

Repayments of Outstanding Princ

Repayments of Outstanding Principal under Term Loan Facility (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Long Term Debt Maturities Repayments Of Principal [Line Items]
Total Senior Credit Facilities	$ 416,640	$ 354,372
Term Loan
Long Term Debt Maturities Repayments Of Principal [Line Items]
2025	4,710
2026	4,710
2027	60,988
Total Senior Credit Facilities	$ 70,408

Leases - Additional Information

Leases - Additional Information (Details)	12 Months Ended
	Dec. 31, 2024
Lessee Lease Description [Line Items]
Lease renewal terms and termination description	Certain leases include terms such as one or more options to renew, with renewal terms that can extend the lease term from one to 10 years, and options to terminate the leases within one year.
Minimum
Lessee Lease Description [Line Items]
Lease agreement expiration year	2025
Lease renewal terms	1 year
Maximum
Lessee Lease Description [Line Items]
Lease agreement expiration year	2036
Lease renewal terms	10 years
Lease termination period	1 year
Land | Maximum
Lessee Lease Description [Line Items]
Lease agreement expiration year	2078

Summary of Components of Lease

Summary of Components of Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 12,109	$ 10,475	$ 10,387
Finance lease cost
Amortization of right-of-use assets	602	602	602
Interest on lease liabilities	236	274	308
Variable lease cost	1,192	1,007	1,145
Total lease cost	$ 14,139	$ 12,358	$ 12,442

Summary of Balance Sheet Inform

Summary of Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating leases
Operating lease right-of-use assets	$ 42,908	$ 38,302
Current portion of operating lease liabilities	9,879	8,189
Operating lease liabilities	40,548	37,345
Total operating lease liabilities	50,427	45,534
Finance leases
Finance lease right-of-use assets gross	9,582	9,582
Finance lease right-of-use assets accumulated depreciation	(6,874)	(6,272)
Finance lease assets included in property, plant and equipment, net	$ 2,708	$ 3,310
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, plant and equipment, net	Property, plant and equipment, net
Current portion of finance lease liabilities	$ 759	$ 718
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Noncurrent portion of finance lease liabilities	$ 3,175	$ 3,934
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Total finance lease liabilities	$ 3,934	$ 4,652
Weighted-average remaining lease term (in years):
Operating leases	7 years 4 months 24 days	7 years 7 months 6 days
Finance leases	4 years 6 months	5 years 6 months
Weighted-average discount rate:
Operating leases	4.82%	4.84%
Finance leases	5.54%	5.54%

Summary of Cash Flow Informatio

Summary of Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in lease liabilities:
Operating cash flows from finance leases	$ 236	$ 274	$ 308
Operating cash flows from operating leases	11,169	7,826	7,876
Financing cash flows from finance leases	718	657	599
Supplemental non-cash information:
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 14,237	$ 4,046	$ 4,757

Summary of Cash Flow Informat_2

Summary of Cash Flow Information Related to Leases (Parenthetical) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Right-of-use assets acquired	$ 14,237	$ 4,046	$ 4,757
Motion Solutions Parent Corp [Member]
Lessee, Lease, Description [Line Items]
Right-of-use assets acquired	$ 8,100

Future Minimum Lease Payments U

Future Minimum Lease Payments Under Operating and Finance Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Operating Leases
2025	$ 11,581
2026	10,445
2027	8,880
2028	6,084
2029	5,297
Thereafter	19,037
Total minimum lease payments	61,324
Less: Interest	(10,897)
Present value of lease liabilities	50,427	$ 45,534
Finance Leases
2025	954
2026	979
2027	1,003
2028	1,003
2029	502
Thereafter	0
Total minimum lease payments	4,441
Less: Interest	(507)
Present value of lease liabilities	$ 3,934	$ 4,652

Stockholders' Equity and Share-

Stockholders' Equity and Share-Based Compensation - Additional Information (Details) - USD ($)	1 Months Ended		12 Months Ended			51 Months Ended
	Feb. 29, 2024	May 31, 2021	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2022	Feb. 29, 2020	Oct. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Preferred shares, Authorized		7,000,000	7,000,000	7,000,000
Preferred shares, voting rights		one vote per share
Preferred shares, Issued			0	0
Preferred shares, outstanding			0	0
Repurchase of common stock					$ 10,000,000
Share-based compensation expense recognized			$ 23,307,000	$ 25,588,000	23,108,000
Unrecognized stock-based compensation expense			$ 30,800,000
Unrecognized stock-based compensation expense, weighted-average recognition period			1 year 8 months 15 days
Restricted Stock Units and Deferred Stock Units | Board of Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense recognized			$ 1,600,000	$ 1,200,000	$ 1,100,000
Amended and Restated 2010 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of shares to be issued		6,148,613
Incentive plan and award expiration date			May 13, 2031
Shares available for future issuance			1,678,372
Amended and Restated 2010 Incentive Plan | Restricted Stock Units and Deferred Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total fair value of stock units vested			$ 17,100,000
Amended and Restated 2010 Incentive Plan | Restricted Stock Units (RSUs) | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			0 years
Amended and Restated 2010 Incentive Plan | Restricted Stock Units (RSUs) | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			5 years
Amended and Restated 2010 Incentive Plan | Deferred Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of outstanding shares			40,000	41,000
Amended and Restated 2010 Incentive Plan | Attainment-based PSUs | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of percentage of shares to be issued upon settlement following vesting of target number of shares			0%
Amended and Restated 2010 Incentive Plan | Attainment-based PSUs | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of percentage of shares to be issued upon settlement following vesting of target number of shares			200%
Amended and Restated 2010 Incentive Plan | Market-based PSUs | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of percentage of shares to be issued upon settlement following vesting of target number of shares			0%
Amended and Restated 2010 Incentive Plan | Market-based PSUs | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of percentage of shares to be issued upon settlement following vesting of target number of shares			200%
Amended and Restated 2010 Incentive Plan | Hybrid PSUs | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of percentage of shares to be issued upon settlement following vesting of target number of shares			0%
Amended and Restated 2010 Incentive Plan | Hybrid PSUs | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Range of percentage of shares to be issued upon settlement following vesting of target number of shares			260%
Amended and Restated 2010 Incentive Plan | Performance Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total fair value of stock units vested			$ 8,000,000
Amended and Restated 2010 Incentive Plan | Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Stock options, Granted	53,000		53,000
Stock options, Expiration Period	7 years
Fair value of stock options granted			$ 3,300,000
2018 Repurchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock repurchase program authorized amount								$ 25,000,000
Shares repurchased					80,000	264,000
Repurchase of common stock					$ 9,500,000	$ 25,000,000
Shares repurchased, average cost per share					$ 118.97	$ 94.57
2020 Repurchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock repurchase program authorized amount							$ 50,000,000
Shares repurchased			0	0	4,000
Repurchase of common stock					$ 500,000
Shares repurchased, average cost per share					$ 116.95
Available for share repurchases			$ 49,500,000

Share-Based Compensation Expens

Share-Based Compensation Expense Recorded in Operating Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 23,307	$ 25,588	$ 23,108
Selling, General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	19,885	21,963	18,182
Research and Development and Engineering
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	2,346	2,031	2,414
Cost of Revenue
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 1,076	$ 1,594	$ 2,512

Restricted Stock Units and Defe

Restricted Stock Units and Deferred Stock Units Issued and Outstanding (Details) - Amended and Restated 2010 Incentive Plan - Restricted Stock Units and Deferred Stock Units $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Restricted Stock Units
Unvested, Beginning Balance | shares	206
Granted | shares	118
Vested | shares	(107)
Forfeited | shares	(19)
Unvested, Ending Balance | shares	198
Expected to vest at end of period | shares	181
Weighted Average Grant Date Fair Value
Unvested, Beginning Balance | $ / shares	$ 143.97
Granted | $ / shares	161.46
Vested | $ / shares	141.88
Forfeited | $ / shares	155.68
Unvested, Ending Balance | $ / shares	154.43
Expected to vest at end of period | $ / shares	$ 153.94
Weighted Average Remaining Vesting Period (in years)
Unvested at end of period	1 year 1 month 9 days
Expected to vest at end of period	1 year 1 month 9 days
Aggregate Intrinsic Value
Unvested at end of period | $	$ 30,298
Expected to vest at end of period | $	$ 27,697

Restricted Stock Units and De_2

Restricted Stock Units and Deferred Stock Units Issued and Outstanding (Parenthetical) (Details) - Amended and Restated 2010 Incentive Plan - Restricted Stock Units and Deferred Stock Units	Dec. 31, 2024 $ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common share fair value per share	$ 152.77
Restricted and deferred stock units purchase price per share	$ 0

Performance-Based Restricted St

Performance-Based Restricted Stock Units Issued and Outstanding (Details) - Amended and Restated 2010 Incentive Plan - Performance Stock Units $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) $ / shares shares
Performance Stock Units
Unvested, Beginning Balance | shares	205
Granted | shares	80
Performance adjustments | shares	16
Vested | shares	(49)
Forfeited | shares	(25)
Unvested, Ending Balance | shares	227
Expected to vest at end of period | shares	190
Weighted Average Grant Date Fair Value
Unvested, Beginning Balance | $ / shares	$ 160.24
Granted | $ / shares	177.06
Performance adjustment | $ / shares	166.64
Vested | $ / shares	166.58
Forfeited | $ / shares	168.78
Unvested, Ending Balance | $ / shares	165.13
Expected to vest at end of period | $ / shares	$ 163.87
Weighted Average Remaining Vesting Period (in years)
Unvested at end of period	1 year 1 month 24 days
Expected to vest at end of period	1 year 1 month 24 days
Aggregate Intrinsic Value
Unvested at end of period | $	$ 34,667
Expected to vest at end of period | $	$ 29,051

Performance-Based Restricted _2

Performance-Based Restricted Stock Units Issued and Outstanding (Parenthetical) (Details) - Amended and Restated 2010 Incentive Plan shares in Thousands	Dec. 31, 2024 $ / shares shares
Performance Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of PSUs available to be earned | shares	443
Common share fair value per share	$ 152.77
Performance stock units purchase price per share	0
Employee Stock Option [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common share fair value per share	$ 152.77

Fair Value of TSR Performance-B

Fair Value of TSR Performance-Based Restricted Stock Units Estimated Using Monte-Carol Valuation Model (Details) - Hybrid PSUs	12 Months Ended
	Dec. 31, 2024 $ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant-date stock price	$ 157.48
Expected volatility	36.90%
Risk-free interest rate	4.35%
Expected annual dividend yield	0%
Weighted average fair value	$ 180.98

Stockholders' Equity and Shar_2

Stockholders' Equity and Share-Based Compensation - Stock Options Outstanding and Exercisable (Details) - Amended and Restated 2010 Incentive Plan - Employee Stock Option - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Feb. 29, 2024	Dec. 31, 2024
Number of Shares
Stock Options, Outstanding as of December 31, 2023		132
Stock Options, Granted	53	53
Stock Options, Exercised		(31)
Stock Options, Forfeited or expired		(5)
Stock Options, Outstanding as of December 31, 2022		149
Stock Options, Exercisable as of December 31, 2023		59
Stock Options, Expected to vest as of December 31, 2022		90
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding as of December 31, 2023		$ 102.86
Weighted Average Exercise Price, Granted		157.48
Weighted Average Exercise Price, Exercised		14.13
Weighted Average Exercise Price, Forefeited or expired		156.61
Weighted Average Exercise Price, Outstanding as of December 31, 2022		139.17
Weighted Average Exercise Price, Exercisable as of December 31, 2023		116.07
Weighted Average Exercise Price, Expected to vest as of December 31, 2022		$ 154.36
Weighted Average Remaining Contractual Term (years)
Weighted Average Remaining Contractual Term, Outstanding as of December 31, 2023		4 years 7 months 17 days
Weighted Average Remaining Contractual Term, Exercisable as of December 31, 2023		3 years 2 months 19 days
Weighted Average Remaining Contractual Term, Expected to vest as of December 31, 2022		5 years 6 months 21 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding as of December 31, 2023		$ 2,449
Aggregate Intrinsic Value, Exercisable as of December 31, 2023		2,247
Aggregate Intrinsic Value, Expected to vest as of December 31, 2023		$ 202

Stockholders' Equity and Shar_3

Stockholders' Equity and Share-Based Compensation - Stock Options Outstanding and Exercisable (Parenthetical) (Details)	Dec. 31, 2024 $ / shares
Amended and Restated 2010 Incentive Plan | Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common share fair value per share	$ 152.77

Stockholders' Equity and Shar_4

Stockholders' Equity and Share-Based Compensation - Fair Value of Stock Options Granted Estimated Using Black-Scholes Valuation Model (Details) - Employee Stock Option - Amended and Restated 2010 Incentive Plan	12 Months Ended
	Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected option term in years	4 years 6 months
Expected volatility	40.30%
Risk-free interest rate	4.20%
Expected annual dividend yield	0%

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Contribution to defined contribution plan by employer	$ 6.8	$ 6.8	$ 5.9
Funding valuation period	3 years

Net Periodic Pension Cost (Deta

Net Periodic Pension Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Components of the net periodic pension cost:
Interest cost	$ 1,158	$ 1,185	$ 669
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax
Expected return on plan assets	$ (1,466)	$ (1,440)	$ (1,286)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)
Amortization of actuarial losses	$ 851	$ 990	$ 380
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Operating Expenses	Operating Expenses	Operating Expenses
Amortization of prior service cost	$ 30	$ 30	$ 32
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Operating Expenses	Operating Expenses	Operating Expenses
Net periodic pension cost	$ 573	$ 765	$ (205)

Actuarial Assumptions used to C

Actuarial Assumptions used to Compute Net Periodic Pension Cost (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Retirement Benefits [Abstract]
Weighted-average discount rate	4.50%	4.80%	1.80%
Weighted-average long-term rate of return on plan assets	5.10%	5.30%	3.20%

Actuarial Assumptions used to_2

Actuarial Assumptions used to Compute Benefit Obligations (Details)	Dec. 31, 2024	Dec. 31, 2023
Retirement Benefits [Abstract]
Weighted-average discount rate	5.50%	4.50%
Rate of inflation	3.10%	2.80%

Reconciliation of Benefit Oblig

Reconciliation of Benefit Obligations and Plan Assets of U.K. Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Change in benefit obligation:
Projected benefit obligation at beginning of year	$ 26,259	$ 24,597
Interest cost	1,158	1,185	$ 669
Actuarial (gains) losses	(3,393)	445
Benefits paid	(1,374)	(1,257)
Foreign currency exchange rate changes	(250)	1,289
Projected benefit obligation at end of year	22,400	26,259	24,597
Accumulated benefit obligation at end of year	22,400	26,259
Change in plan assets:
Fair value of plan assets at beginning of year	29,351	26,609
Actual return on plan assets	(1,311)	1,575
Employer contributions	287	1,007
Benefits paid	(1,374)	(1,257)
Foreign currency exchange rate changes	(308)	1,417
Fair value of plan assets at end of year	26,645	29,351	26,609
Funded status at end of year	4,245	3,092
Amounts included in accumulated other comprehensive loss not yet recognized in net periodic pension cost:
Net actuarial losses at beginning of year	(7,772)	(8,076)
Net actuarial gains (losses) during the year	627	(310)
Amounts reclassified from accumulated other comprehensive loss to income before income taxes	881	1,020
Foreign currency exchange rate changes	67	(406)
Net actuarial losses	$ (6,197)	$ (7,772)	$ (8,076)

Expected Future Benefit Payment

Expected Future Benefit Payments for Each of Next Five Years (Details) $ in Thousands	Dec. 31, 2024 USD ($)
Retirement Benefits [Abstract]
2025	$ 1,298
2026	1,568
2027	1,642
2028	1,615
2029	1,613
2030-2034	9,678
Total	$ 17,414

Summary of Fair Value of Plan A

Summary of Fair Value of Plan Assets by Asset Category (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	$ 26,645	$ 29,351	$ 26,609
Estimate of Fair Value Measurement | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	391	244
Not Subject to Leveling
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	26,254	29,107
Balanced Fund
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	5,118	18,978
Balanced Fund | Not Subject to Leveling
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	5,118	18,978
Fixed Income
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	21,136	10,129
Fixed Income | Not Subject to Leveling
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	21,136	10,129
Cash
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	391	244
Cash | Estimate of Fair Value Measurement | Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair Value of Plan Assets	$ 391	$ 244

Summary of Fair Value of Plan_2

Summary of Fair Value of Plan Assets by Asset Category (Parenthetical) (Details)	Dec. 31, 2024	Dec. 31, 2023
Bonds | Fixed Income
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	79%	95%
Bonds | Balanced Fund
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	90%	64%
Equity Securities | Balanced Fund
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	5%	11%
Other Asset | Fixed Income
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	21%	5%
Other Asset | Balanced Fund
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan, target plan asset allocations	5%	25%

Components of Income (Loss) Bef

Components of Income (Loss) Before Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income (loss) before income taxes:
Income before income taxes	$ 79,066	$ 83,748	$ 87,159
CANADA
Income (loss) before income taxes:
Foreign	(7,425)	(6,490)	(4,946)
UNITED STATES
Income (loss) before income taxes:
U.S.	11,829	38,992	28,365
Other Countries
Income (loss) before income taxes:
Foreign	$ 74,662	$ 51,246	$ 63,740

Components of Income Tax Provis

Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Components Of Income Tax Expense Benefit [Line Items]
Current income tax provision (benefit)	$ 30,888	$ 25,596	$ 31,762
Deferred income tax provision (benefit)	(15,909)	(14,726)	(18,654)
Income Tax Provision (benefit)	14,979	10,870	13,108
CANADA
Components Of Income Tax Expense Benefit [Line Items]
Current income tax provision (benefit)	43	59	65
UNITED STATES
Components Of Income Tax Expense Benefit [Line Items]
Current income tax provision (benefit)	11,198	14,424	17,205
Deferred income tax provision (benefit)	(12,612)	(12,224)	(15,370)
Other Countries
Components Of Income Tax Expense Benefit [Line Items]
Current income tax provision (benefit)	19,647	11,113	14,492
Deferred income tax provision (benefit)	$ (3,297)	$ (2,502)	$ (3,284)

Reconciliation of Statutory Can

Reconciliation of Statutory Canadian Tax rate to Effective Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Effective Tax Rate Reconciliation [Line Items]
Income Tax Provision (benefit)	$ 14,979	$ 10,870	$ 13,108
Canada Revenue Agency
Schedule Of Effective Tax Rate Reconciliation [Line Items]
Statutory Canadian tax rate	29%	29%	29%
Expected income tax provision at Canadian statutory tax rate	$ 22,929	$ 24,287	$ 25,276
U.S. state income taxes, net	(168)	860	3
U.K. patent box	(3,982)	(4,247)	(3,135)
Foreign-derived intangible income	(3,015)	(4,500)	(4,467)
International tax rate differences	(2,622)	(4,804)	(6,289)
Tax credits	(2,590)	(3,602)	(2,256)
Change in valuation allowance	1,930	2,068	2,048
Disallowed compensation	1,678	2,571	2,138
Withholding and other taxes	854	300	789
Windfall benefit from share-based compensation	(844)	(1,685)	(254)
Transaction costs and permanent differences	360	423	140
Uncertain tax positions	244	90	(168)
Provision to return differences	231	(1,056)	(19)
Acquisition contingent consideration adjustments	(81)		(698)
Statutory tax rate changes	55	165
Income Tax Provision (benefit)	$ 14,979	$ 10,870	$ 13,108
Effective tax rate	18.90%	13%	15%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Taxes [Line Items]
Deferred tax assets additional valuation allowance recorded	$ 1,900,000	$ 2,100,000
Loss carryforwards	6,800,000	5,700,000
Capital loss carryforward	5,800,000	5,600,000
Tax credits	3,800,000	3,700,000
Tax credits, uncertain tax positions	600,000
Undistributed earnings of foreign subsidiaries	494,900,000
Estimated unrecognized income tax and foreign tax liabilities related to undistributed earnings of foreign subsidiaries	7,300,000
Gross unrecognized tax benefits	4,839,000	4,343,000	$ 4,249,000	$ 4,797,000
Unrecognized tax benefits that will impact tax rate if recognized	4,100,000
Unrecognized tax benefit income tax interest and penalties accrued	800,000	700,000
Unrecognized tax benefits, income tax penalties and interest expense	100,000	100,000	(100,000)
Deferred tax assets recognized	87,907,000	72,570,000
Tax credits, valuation allowance		2,900,000
Disallowed business interest expense carryforwards	1,500,000
Research and Development Expense
Income Taxes [Line Items]
Deferred tax assets recognized	$ 9,500,000
Effective tax rate on income from operations	2%
Maximum
Income Taxes [Line Items]
Maximum unrecognized tax benefits expected to be recorded in next twelve months	$ 800,000
UNITED STATES
Income Taxes [Line Items]
Loss carryforwards	300,000	500,000
Loss carryforwards indefinite amount	100,000
Loss carryforwards remaining amount	200,000
Operating loss carryforwards valuation allowance	$ 100,000
Tax credits		$ 3,000,000
UNITED STATES | Tax Credit That Will Expire In Certain Period
Income Taxes [Line Items]
Tax credits, expiration Year		2039
UNITED STATES | Minimum
Income Taxes [Line Items]
Operating loss carryforwards expiration year	2025	2024
UNITED STATES | Maximum
Income Taxes [Line Items]
Operating loss carryforwards expiration year	2036	2043
U.S. State Credits
Income Taxes [Line Items]
Tax credits	$ 2,600,000
U.S. State Credits | Tax Credit That Will Expire In Certain Period
Income Taxes [Line Items]
Tax credits, expiration Year	2039
CANADA
Income Taxes [Line Items]
Loss carryforwards	$ 6,500,000	$ 5,200,000
Operating loss carryforwards expiration year	2033	2033
Capital loss carryforward	$ 4,900,000	$ 4,900,000
CANADA | Tax Credits That Can Be Carried Forward Indefinitely
Income Taxes [Line Items]
Capital loss carryforward	700,000
Tax credits			$ 700,000
UNITED KINGDOM
Income Taxes [Line Items]
Capital loss carryforward	800,000	$ 700,000
U.S. Federal Foreign Tax Credits
Income Taxes [Line Items]
Tax credits	$ 500,000
U.S. Federal Foreign Tax Credits | Tax Credit That Will Expire In Certain Period
Income Taxes [Line Items]
Tax credits, expiration Year	2034
Other Foreign
Income Taxes [Line Items]
Capital loss carryforward	$ 100,000

Significant Components of Defer

Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Capitalized R&D	$ 34,777	$ 25,238
Inventories	15,451	12,497
Losses	12,606	11,274
Compensation related deductions	9,323	8,457
Operating lease liabilities	9,120	10,194
Tax credits	3,260	3,222
Business interest expense	1,483
Other	974	724
Warranty	913	964
Total deferred tax assets	87,907	72,570
Valuation allowance on deferred tax assets	(18,594)	(16,674)
Net deferred tax assets	69,313	55,896
Deferred tax liabilities:
Amortization	(39,061)	(24,436)
Operating lease right-of-use assets	(8,110)	(9,198)
Depreciation	(6,307)	(5,389)
Deferred revenue	(6,041)	(5,316)
Total deferred tax liabilities	(59,519)	(44,339)
Net deferred tax assets	$ 9,794	$ 11,557

Reconciliation of Total Amounts

Reconciliation of Total Amounts of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Beginning balance of unrecognized tax benefits	$ 4,343	$ 4,249	$ 4,797
Additions based on tax positions related to the current year	949	561	553
Additions for tax positions of prior years	204	47	34
Reductions to tax positions of prior years	(42)	(22)	(563)
Reductions to tax positions resulting from a lapse of the applicable statute of limitations	(615)	(492)	(572)
Ending balance of unrecognized tax benefits	$ 4,839	$ 4,343	$ 4,249

Income Tax Returns to be Review

Income Tax Returns to be Reviewed (Details)	12 Months Ended
	Dec. 31, 2024
UNITED STATES
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2019
CANADA
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2017
UNITED KINGDOM
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2023
GERMANY
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2017
Czech Republic
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2022
CHINA
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2014
JAPAN
Income Tax Examination [Line Items]
Income tax returns to be reviewed	2019

Schedule of Restructuring, Acqu

Schedule of Restructuring, Acquisition and Related Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost And Reserve [Line Items]
Total restructuring related charges	$ 10,486	$ 11,814	$ 4,408
Acquisition and related charges	3,223	1,000	(24)
Total restructuring, acquisition and related costs	13,709	12,814	4,384
2024 Restructuring
Restructuring Cost And Reserve [Line Items]
Total restructuring related charges	10,486
2022 Restructuring
Restructuring Cost And Reserve [Line Items]
Total restructuring related charges	0	8,961	1,414
2020 Restructuring
Restructuring Cost And Reserve [Line Items]
Total restructuring related charges	$ 0	$ 2,853	$ 2,994

Restructuring Acquisition and_2

Restructuring Acquisition and Related Costs - Additional Information (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring and Acquisition Related Costs [Line Items]
Restructuring and related cost description		As a result of the Company’s ongoing evaluations and efforts to reduce its operating costs, while improving efficiency and effectiveness, the Company initiated the 2022 restructuring program in the third quarter of 2022. This program was focused on reducing operating complexity in the Company, including reducing infrastructure costs and streamlining the Company’s operating model to better serve its customers. In addition, the program was focused on cost reduction actions to improve gross margins for the overall company. As of December 31, 2024, the Company had incurred cumulative costs of $10.4 million related to the 2022 restructuring program. The 2022 restructuring program was completed in the fourth quarter of 2023.
Restructuring costs		$ 10,486,000	$ 11,814,000	$ 4,408,000
Acquisition and related charges		3,223,000	1,000,000	(24,000)
Unallocated Corporate and Shared Services
Restructuring and Acquisition Related Costs [Line Items]
Acquisition and related charges		3,200,000
Finders' Fees, Legal, Valuation And Other Professional Or Consulting Fees
Restructuring and Acquisition Related Costs [Line Items]
Acquisition and related charges		3,500,000	1,000,000	1,400,000
Earn-out Agreement
Restructuring and Acquisition Related Costs [Line Items]
Acquisition and related charges		(300,000)	0	(1,400,000)
2022 Restructuring
Restructuring and Acquisition Related Costs [Line Items]
Restructuring costs		0	8,961,000	1,414,000
Restructuring cumulative costs incurred		$ 10,400,000
2024 Restructuring
Restructuring and Acquisition Related Costs [Line Items]
Restructuring and related cost description		As a result of the Company’s acquisitions and ongoing integration activities, the Company initiated the 2024 restructuring program in the first quarter of 2024 in order to reduce operating complexity. During the year ended December 31, 2024, the Company recorded $10.5 million in severance, facility related and other charges in connection with the 2024 restructuring program. As of December 31, 2024, the Company had incurred cumulative costs of $10.5 million related to this restructuring program. The Company anticipates substantially completing the 2024 restructuring program in the first half of 2025 and expects to incur additional restructuring charges of $4.0 million to $5.0 million related to the 2024 restructuring program.
Restructuring costs		$ 10,486,000
Restructuring cumulative costs incurred		10,500,000
2024 Restructuring | Minimum
Restructuring and Acquisition Related Costs [Line Items]
Restructuring and Related Cost, Expected Cost Remaining		4,000,000
2024 Restructuring | Maximum
Restructuring and Acquisition Related Costs [Line Items]
Restructuring and Related Cost, Expected Cost Remaining		5,000,000
2024 Restructuring | Severance, Facility Related, and Other Charges
Restructuring and Acquisition Related Costs [Line Items]
Severance cost		$ 10,500,000
2020 Restructuring
Restructuring and Acquisition Related Costs [Line Items]
Restructuring and related cost description		As a result of the Company’s ongoing evaluations and efforts to reduce its operating costs, while improving efficiency and effectiveness, the Company initiated the 2020 restructuring program in the third quarter of 2020. This program was focused on reducing operating complexity in the Company, including reducing infrastructure costs and streamlining the Company’s operating model to better serve its customers. In addition, the program was focused on cost reduction actions to improve gross margins for the overall company. As of December 31, 2024, the Company had incurred cumulative costs of $16.7 million related to the 2020 restructuring program. The 2020 restructuring program was completed in the fourth quarter of 2023. In January 2025, the Company sold an owned facility with a $3.6 million gain.
Restructuring costs		$ 0	$ 2,853,000	$ 2,994,000
Restructuring cumulative costs incurred		$ 16,700,000
Subsequent Event | 2020 Restructuring
Restructuring and Acquisition Related Costs [Line Items]
Gain on sale of owned facility	$ 3,600,000

Summary of Restructuring Charge

Summary of Restructuring Charges by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost And Reserve [Line Items]
Restructuring costs	$ 10,486	$ 11,814	$ 4,408
2022 Restructuring
Restructuring Cost And Reserve [Line Items]
Restructuring costs	0	8,961	1,414
Cumulative Costs	$ 10,375
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Charges And Acquisition Related Costs
2022 Restructuring | Medical Solutions
Restructuring Cost And Reserve [Line Items]
Restructuring costs		1,359	56
Cumulative Costs	$ 1,415
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Charges And Acquisition Related Costs
2022 Restructuring | Automation Enabling Technologies
Restructuring Cost And Reserve [Line Items]
Restructuring costs		6,771	1,358
Cumulative Costs	$ 8,129
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Charges And Acquisition Related Costs
2022 Restructuring | Unallocated costs
Restructuring Cost And Reserve [Line Items]
Restructuring costs		831
Cumulative Costs	$ 831
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Charges And Acquisition Related Costs
2020 Restructuring
Restructuring Cost And Reserve [Line Items]
Restructuring costs	$ 0	2,853	2,994
Cumulative Costs	$ 16,716
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Charges And Acquisition Related Costs
2020 Restructuring | Medical Solutions
Restructuring Cost And Reserve [Line Items]
Restructuring costs			217
Cumulative Costs	$ 2,716
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Charges And Acquisition Related Costs
2020 Restructuring | Automation Enabling Technologies
Restructuring Cost And Reserve [Line Items]
Restructuring costs		$ 2,853	2,775
Cumulative Costs	$ 13,827
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Charges And Acquisition Related Costs
2020 Restructuring | Unallocated costs
Restructuring Cost And Reserve [Line Items]
Restructuring costs			$ 2
Cumulative Costs	$ 173
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Charges And Acquisition Related Costs
2024 Restructuring
Restructuring Cost And Reserve [Line Items]
Restructuring costs	$ 10,486
Cumulative Costs	$ 10,486
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Charges And Acquisition Related Costs
2024 Restructuring | Medical Solutions
Restructuring Cost And Reserve [Line Items]
Restructuring costs	$ 6,769
Cumulative Costs	$ 6,769
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Charges And Acquisition Related Costs
2024 Restructuring | Automation Enabling Technologies
Restructuring Cost And Reserve [Line Items]
Restructuring costs	$ 3,198
Cumulative Costs	$ 3,198
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Charges And Acquisition Related Costs
2024 Restructuring | Unallocated costs
Restructuring Cost And Reserve [Line Items]
Restructuring costs	$ 519
Cumulative Costs	$ 519
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring Charges And Acquisition Related Costs

Summary of Accrual Activities b

Summary of Accrual Activities by Components Related to Company's Restructuring Programs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance	$ 2,850	$ 2,410
Restructuring charges	10,486	11,814
Cash payments	(5,898)	(8,867)
Non-cash write-offs and other adjustments	(687)	(2,507)
Accrued expense ending balance	6,751	2,850
Employee Related
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance	1,038	1,902
Restructuring charges	8,165	5,832
Cash payments	(3,469)	(6,675)
Non-cash write-offs and other adjustments	(44)	(21)
Accrued expense ending balance	5,690	1,038
Facility Related
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance	1,680	452
Restructuring charges	2,034	4,452
Cash payments	(2,007)	(1,379)
Non-cash write-offs and other adjustments	(646)	(1,845)
Accrued expense ending balance	1,061	1,680
Other Restructuring Charges
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance	132	56
Restructuring charges	287	1,530
Cash payments	(422)	(813)
Non-cash write-offs and other adjustments	3	(641)
Accrued expense ending balance	$ 0	$ 132

Summary of Accrual Activities_2

Summary of Accrual Activities by Components Related to Company's Restructuring Charges (Parenthetical) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring Cost And Reserve [Line Items]
Impairment of assets	$ 2.5

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) Customer
Commitments and Contingencies Disclosure [Abstract]
Purchase commitments	$ 138.7
Purchase commitments, 2025	126.3
Purchase commitments, 2026	11.4
Purchase commitments, 2027	$ 1
Number of customers accounted for 10% or more of accounts receivable | Customer	1

Segment Information - Additiona

Segment Information - Additional Information (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2024 Segment	Dec. 31, 2024 Segment Customer EndMarket	Dec. 31, 2023 Customer	Dec. 31, 2022 Customer
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	2	2
Number of primary end market segments | EndMarket		2
Number of customers exceeded ten percentage of revenue | Customer		1	1	0
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]		srt:ChiefExecutiveOfficerMember
Segment Reporting, CODM, Profit (Loss) Measure, How Used, Description		The CODM utilizes financial information to make decisions about allocating resources and assessing performance for the entire Company.
Medical Solutions | Sales Revenue Segment | Customer Concentration Risk
Segment Reporting Information [Line Items]
Percentage of revenue accounted		10%	10%	10%

Results of Operations Reportabl

Results of Operations Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 949,245	$ 881,662	$ 860,903
Cost of revenue	527,700	481,765	482,431
Amortization of purchased intangible assets	14,773	12,150	13,270
Gross profit	421,545	399,897	378,472
Research and development and engineering	95,515	91,682	85,770
Selling, general and administrative	175,943	164,460	158,901
Amortization of purchased intangible assets	25,794	20,445	26,338
Restructuring, acquisition and related costs	13,709	12,814	4,384
Interest income (expense), net	(31,489)	(25,818)	(15,616)
Other income (expense), net	(442)	(675)	(371)
Income before income taxes	79,066	83,748	87,159
Medical Solutions
Segment Reporting Information [Line Items]
Income before income taxes		63,258
Automation Enabling Technologies
Segment Reporting Information [Line Items]
Income before income taxes		96,281
Operating Segments
Segment Reporting Information [Line Items]
Revenue	949,245	881,662	860,903
Gross profit	424,932	405,585	384,036
Segment operating income	163,935	159,539	152,298
Operating Segments | Medical Solutions
Segment Reporting Information [Line Items]
Revenue	458,625	382,442	326,813
Cost of revenue	260,176	206,550	181,908
Amortization of purchased intangible assets	8,492	5,105	5,874
Gross profit	189,957	170,787	139,031
Research and development and engineering	57,110	49,440	40,416
Selling, general and administrative	53,798	49,227	42,634
Amortization of purchased intangible assets	14,587	7,503	8,676
Restructuring, acquisition and related costs	6,930	1,359	432
Segment operating income	57,532	63,258	46,873
Income before income taxes	57,532		46,873
Operating Segments | Automation Enabling Technologies
Segment Reporting Information [Line Items]
Revenue	490,620	499,220	534,090
Cost of revenue	249,364	257,377	281,689
Amortization of purchased intangible assets	6,281	7,045	7,396
Gross profit	234,975	234,798	245,005
Research and development and engineering	39,026	43,024	45,444
Selling, general and administrative	75,423	72,860	73,554
Amortization of purchased intangible assets	11,207	12,942	17,662
Restructuring, acquisition and related costs	2,916	9,691	2,920
Segment operating income	106,403	96,281	105,425
Income before income taxes	106,403		105,425
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment
Segment Reporting Information [Line Items]
Unallocated costs	(53,351)	(49,043)	(49,219)
Interest income (expense), net	(31,489)	(25,818)	(15,616)
Other income (expense), net	$ (29)	$ (930)	$ (304)

Depreciation and Amortization E

Depreciation and Amortization Expenses by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Depreciation and Amortization Expenses
Depreciation and amortization expenses	$ 55,563	$ 46,612	$ 53,158
Unallocated
Depreciation and Amortization Expenses
Depreciation and amortization expenses	1,872	1,354	399
Medical Solutions | Operating Segments
Depreciation and Amortization Expenses
Depreciation and amortization expenses	29,818	18,578	20,425
Automation Enabling Technologies | Operating Segments
Depreciation and Amortization Expenses
Depreciation and amortization expenses	$ 23,873	$ 26,680	$ 32,334

Accounts Receivable and Invento

Accounts Receivable and Inventory by Reportable Segments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Accounts Receivable
Total accounts receivable	$ 151,026	$ 139,410
Inventories
Total inventories	144,606	149,371
Total segment assets	295,632	288,781
Medical Solutions
Accounts Receivable
Total accounts receivable	80,197	68,279
Inventories
Total inventories	55,597	46,045
Automation Enabling Technologies
Accounts Receivable
Total accounts receivable	70,829	71,131
Inventories
Total inventories	$ 89,009	$ 103,326

Total Assets by Reportable Segm

Total Assets by Reportable Segments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
ASSETS
Total segment assets	$ 295,632	$ 288,781
Cash and cash equivalents	113,989	105,051
Prepaid income taxes and income taxes receivable	8,076	8,105
Prepaid expenses and other current assets	15,951	13,360
Property, plant and equipment, net	113,135	109,449
Operating right-of-use assets	42,908	38,302
Deferred tax assets	22,887	27,862
Other assets	5,991	5,617
Intangible assets, net	185,844	145,022
Goodwill	584,098	484,507
Total assets	$ 1,388,511	$ 1,226,056

Schedule of Geographic Revenue

Schedule of Geographic Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenue	$ 949,245	$ 881,662	$ 860,903
Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Segment Reporting Information [Line Items]
Percentage of Total	100%	100%	100%
United States
Segment Reporting Information [Line Items]
Revenue	$ 487,114	$ 418,265	$ 372,345
United States | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Segment Reporting Information [Line Items]
Percentage of Total	51.30%	47.40%	43.30%
Germany
Segment Reporting Information [Line Items]
Revenue	$ 123,244	$ 128,229	$ 133,728
Germany | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Segment Reporting Information [Line Items]
Percentage of Total	13%	14.50%	15.50%
Rest of Europe
Segment Reporting Information [Line Items]
Revenue	$ 128,871	$ 137,027	$ 137,803
Rest of Europe | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Segment Reporting Information [Line Items]
Percentage of Total	13.60%	15.60%	16%
China
Segment Reporting Information [Line Items]
Revenue	$ 84,562	$ 73,444	$ 97,178
China | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Segment Reporting Information [Line Items]
Percentage of Total	8.90%	8.30%	11.30%
Rest of Asia-Pacific
Segment Reporting Information [Line Items]
Revenue	$ 107,054	$ 105,350	$ 101,596
Rest of Asia-Pacific | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Segment Reporting Information [Line Items]
Percentage of Total	11.30%	12%	11.80%
Other Countries
Segment Reporting Information [Line Items]
Revenue	$ 18,400	$ 19,347	$ 18,253
Other Countries | Geographic Concentration Risk | Revenue from Contract with Customer Benchmark
Segment Reporting Information [Line Items]
Percentage of Total	1.90%	2.20%	2.10%

Summary of Long-lived Assets (D

Summary of Long-lived Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	$ 113,135	$ 109,449
United States
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	25,207	23,899
Germany
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	31,684	35,318
U.K.
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	34,078	28,734
Czech Republic
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	15,345	14,100
China
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	6,561	7,114
Rest of World
Long-Lived Assets by Geographical Areas [Line Items]
Property, plant and equipment, net	$ 260	$ 284

Schedule of Revenue by End Mark

Schedule of Revenue by End Market (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total revenue by end market	100%	100%	100%
Medical
Segment Reporting Information [Line Items]
Total revenue by end market	55%	54%	49%
Advanced Industrial
Segment Reporting Information [Line Items]
Total revenue by end market	45%	46%	51%