Novanta (NOVT) 10-Q 11 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 02, 2021	May 04, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 2, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	NOVT
Entity Registrant Name	NOVANTA INC.
Entity Central Index Key	0001076930
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		35,384,296
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-35083
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 Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	A3
Entity Interactive Data Current	Yes
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common shares, no par value

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 113,562	$ 125,054
Accounts receivable, net of allowance of $260 and $274, respectively	90,060	75,054
Inventories	89,944	92,737
Prepaid income taxes and income taxes receivable	6,277	3,203
Prepaid expenses and other current assets	9,274	8,125
Total current assets	309,117	304,173
Property, plant and equipment, net	77,535	78,676
Operating lease assets	31,642	34,444
Deferred tax assets	10,179	10,491
Other assets	2,813	2,894
Intangible assets, net	139,354	148,521
Goodwill	281,614	285,980
Total assets	852,254	865,179
Current liabilities
Current portion of long-term debt	5,273	5,508
Accounts payable	51,952	42,966
Income taxes payable	5,596	5,787
Current portion of operating lease liabilities	5,895	6,188
Accrued expenses and other current liabilities	48,661	53,780
Total current liabilities	117,377	114,229
Long-term debt	186,145	194,927
Operating lease liabilities	30,934	32,802
Deferred tax liabilities	22,167	24,134
Income taxes payable	5,172	5,112
Other liabilities	14,336	17,166
Total liabilities	376,131	388,370
Commitments and contingencies (Note 14)
Stockholders’ equity:
Common shares, no par value; Authorized shares: unlimited; Issued and outstanding: 35,384 and 35,163, respectively	423,856	423,856
Additional paid-in capital	47,364	58,992
Retained earnings	17,512	6,202
Accumulated other comprehensive loss	(12,609)	(12,241)
Total stockholders' equity	476,123	476,809
Total liabilities and stockholders’ equity	$ 852,254	$ 865,179

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 02, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Accounts receivable, allowance	$ 260	$ 274
Common shares, Authorized	Unlimited	Unlimited
Common shares, no par value	$ 0	$ 0
Common shares, Issued	35,384	35,163
Common shares, outstanding	35,384	35,163

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Income Statement [Abstract]
Revenue	$ 162,584	$ 155,468
Cost of revenue	93,844	91,023
Gross profit	68,740	64,445
Operating expenses:
Research and development and engineering	18,682	15,334
Selling, general and administrative	31,653	30,755
Amortization of purchased intangible assets	3,575	3,445
Restructuring, acquisition, and related costs	3,731	1,661
Total operating expenses	57,641	51,195
Operating income	11,099	13,250
Interest income (expense), net	(1,408)	(1,678)
Foreign exchange transaction gains (losses), net	(257)	254
Other income (expense), net	(70)	83
Income before income taxes	9,364	11,909
Income tax provision (benefit)	(1,946)	(38)
Consolidated net income	$ 11,310	$ 11,947
Earnings per common share (Note 4):
Basic	$ 0.32	$ 0.34
Diluted	$ 0.32	$ 0.34
Weighted average common shares outstanding—basic	35,279	35,152
Weighted average common shares outstanding—diluted	35,789	35,561

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands		3 Months Ended
		Apr. 02, 2021	Apr. 03, 2020
Statement Of Income And Comprehensive Income [Abstract]
Consolidated net income		$ 11,310	$ 11,947
Other comprehensive income (loss):
Foreign currency translation adjustments, net of tax	[1]	(489)	(6,806)
Pension liability adjustments, net of tax	[2]	121	737
Total other comprehensive income (loss)		(368)	(6,069)
Total consolidated comprehensive income (loss)		$ 10,942	$ 5,878
[1]	The tax effect on this component of comprehensive income (loss) was nominal for all periods presented.
[2]	The tax effect on this component of comprehensive income (loss) was nominal for all periods presented. See Note 3 for the total amount of pension liability adjustments reclassified out of accumulated other comprehensive income (loss).

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, 2019	$ 417,172	$ 423,856	$ 49,748	$ (38,319)	$ (18,113)
Balance (in shares) at Dec. 31, 2019		35,052
Consolidated net income	11,947			11,947
Common shares issued under stock plans	179		179
Common shares issued under stock plans (in shares)		222
Common shares withheld for taxes on vested stock awards	(7,825)		(7,825)
Common shares withheld for taxes on vested stock awards (in shares)		(87)
Repurchases of common shares	(5,500)		(5,500)
Repurchases of common shares (in shares)		(65)
Share-based compensation	3,199		3,199
Other comprehensive income (loss), net of tax	(6,069)				(6,069)
Balance at Apr. 03, 2020	413,103	$ 423,856	39,801	(26,372)	(24,182)
Balance (in shares) at Apr. 03, 2020		35,122
Balance at Dec. 31, 2020	476,809	$ 423,856	58,992	6,202	(12,241)
Balance (in shares) at Dec. 31, 2020		35,163
Consolidated net income	11,310			11,310
Common shares issued under stock plans (in shares)		354
Common shares withheld for taxes on vested stock awards	(18,272)		(18,272)
Common shares withheld for taxes on vested stock awards (in shares)		(133)
Share-based compensation	6,644		6,644
Other comprehensive income (loss), net of tax	(368)				(368)
Balance at Apr. 02, 2021	$ 476,123	$ 423,856	$ 47,364	$ 17,512	$ (12,609)
Balance (in shares) at Apr. 02, 2021		35,384

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Cash flows from operating activities:
Consolidated net income	$ 11,310	$ 11,947
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	9,849	9,330
Provision for inventory excess and obsolescence	1,136	803
Share-based compensation	6,644	3,199
Deferred income taxes	(968)	(621)
Other	413	554
Changes in assets and liabilities which (used)/provided cash, excluding effects from business acquisitions:
Accounts receivable	(15,828)	343
Inventories	675	1,919
Prepaid income taxes, income taxes receivable, prepaid expenses and other current assets	(4,277)	(4,501)
Accounts payable, income taxes payable, accrued expenses and other current liabilities	13,745	(5,632)
Other non-current assets and liabilities	569	414
Cash provided by operating activities	23,268	17,755
Cash flows from investing activities:
Payment of business acquisition purchase price held in escrow		(150)
Purchases of property, plant and equipment	(3,268)	(2,319)
Payment of contingent consideration related to acquisition of technology assets	(2,200)	(2,632)
Cash used in investing activities	(5,468)	(5,101)
Cash flows from financing activities:
Repayments under term loan and revolving credit facilities	(1,345)	(1,250)
Payments of debt issuance costs		(1,280)
Payments of withholding taxes from share-based awards	(18,272)	(7,825)
Repurchases of common shares		(5,500)
Payment of contingent consideration related to an acquisition	(435)
Purchase of building under finance lease	(8,743)
Other financing activities	(140)	(190)
Cash used in financing activities	(28,935)	(16,045)
Effect of exchange rates on cash and cash equivalents	(357)	(1,852)
Increase (decrease) in cash and cash equivalents	(11,492)	(5,243)
Cash and cash equivalents, beginning of the period	125,054	78,944
Cash and cash equivalents, end of the period	113,562	73,701
Supplemental disclosure of cash flow information:
Cash paid for interest	1,115	1,326
Cash paid for income taxes	1,983	1,592
Income tax refunds received	$ 45	$ 1,264

Basis of Presentation

Basis of Presentation	3 Months Ended
	Apr. 02, 2021
Accounting Policies [Abstract]
Basis of Presentation	1. Basis of Presentation Novanta Inc. and its subsidiaries (collectively referred to as “Novanta”, the “Company”, “we”, “us”, “our”) is a leading global supplier of core technology solutions that give medical and advanced industrial original equipment manufacturers (“OEMs”) a competitive advantage. Novanta combines deep proprietary technology expertise and competencies in photonics, vision and precision motion 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. The accompanying unaudited interim consolidated financial statements have been prepared by the Company in United States (“U.S.”) dollars and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”), the instructions to Form 10-Q and the provisions of Regulation S-X pertaining to interim financial statements. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the U.S. have been condensed or omitted. The interim consolidated financial statements and notes included in this report should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. In the opinion of management, these interim consolidated financial statements include all adjustments and accruals of a normal and recurring nature necessary to fairly state the results of the interim periods presented. The results for interim periods are not necessarily indicative of results to be expected for the full year or for any future periods. The Company’s unaudited interim consolidated financial statements are prepared for each quarterly period ending on the Friday closest to the end of the calendar quarter, with the exception of the fourth quarter which always ends on December 31. 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 as of 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, including estimated economic implications of the COVID-19 pandemic, and various other assumptions that it believes are reasonable under the circumstances. The accounting estimates assessed included, but were not limited to, the Company’s allowance for doubtful accounts and credit losses, inventory and related reserves and the carrying value of goodwill and other long-lived assets. While there was not a material change to the consolidated financial statements related to these estimates as of and for the three months ended April 2, 2021, the Company’s future assessment of the magnitude and duration of the COVID-19 pandemic, as well as other factors, could result in material impacts to the Company’s consolidated financial statements in future reporting periods. 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 December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions to the general principles of Accounting Standards Codification (“ASC”) 740, “Income Taxes”, including: (i) the exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items; (ii) the exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment (or vice-versa); and (iii) the exception for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. ASU 2019-12 also simplifies GAAP for other areas of ASC 740 by clarifying and amending the existing guidance. January 1, 2021. Early adoption is permitted. The adoption of ASU 2019-12 did not have a material impact on the Company’s consolidated financial statements In March 2020, the FASB issued ASU 2020-04, “Reference rate reform (Topic 848): Facilitation of the effects of reference rate reform on financial reporting.” ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. Upon issuance. ASU 2020-04 is elective. The Company does not expect the impact of ASU 2020-04 to be material to its consolidated financial statements.

Revenue

Revenue	3 Months Ended
	Apr. 02, 2021
Revenue From Contract With Customer [Abstract]
Revenue	2. Revenue The Company recognizes revenue when control of promised goods or services is transferred to customers. 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 for the maintenance and repair of products are typically short in duration, mostly less than one month, and generally involve a single distinct performance obligation. The related revenue is recognized at a point in time when control transfers to the customer upon completion of professional services. The consideration expected to be received in exchange for such services is typically the contractually stated amount. Certain engineering services are longer in duration and the related revenue is recognized over time, as the Company has a right to consideration from a customer, based on the corresponding value to the customer from the Company’s performance completed to date. Professional services aggregate to less than 3 % of the Company’s consolidated revenue. 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 & 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 24 months for the Photonics and Precision Motion segments and 12 months to 36 months for the Vision segment. 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 cost related to warranty is recorded as 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 transfer of a promised good to a customer and the customer’s payment for that good are 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 April 2, 2021 and December 31, 2020, contract liabilities were $5.6 million and $6.5 million, respectively, and are included in accrued expenses and other current liabilities and other liabilities in the accompanying consolidated balance sheets. The decrease in the contract liability balance during the three months ended April 2, 2021 is primarily due to $2.8 million of revenue recognized during the period that was included in the contract liability balance at December 31, 2020, partially offset by cash payments received in advance of satisfying performance obligations. Disaggregated Revenue See Note 15 for the Company’s disaggregation of revenue by segment, geography and end market.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Apr. 02, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss	3. Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss was as follows (in thousands): Total Accumulated Other Cumulative Pension Comprehensive Translation Liability Loss Adjustments Adjustments Balance at December 31, 2020 $ (12,241 ) $ (2,296 ) $ (9,945 ) Other comprehensive income (loss) (609 ) (489 ) (120 ) Amounts reclassified from accumulated other comprehensive loss 241 — 241 Balance at April 2, 2021 $ (12,609 ) $ (2,785 ) $ (9,824 ) The amounts reclassified from accumulated other comprehensive loss were included in other income (expense) in the consolidated statements of operations.

Earnings per Common Share

Earnings per Common Share	3 Months Ended
	Apr. 02, 2021
Earnings Per Share [Abstract]
Earnings per Common Share	4. Earnings per Common Share Basic earnings per common share is computed by dividing consolidated net income by the weighted average number of common shares outstanding during the period. For diluted earnings per common share, the denominator includes the dilutive effect of outstanding common share equivalents. For the three months ended April 2, 2021 and April 3, 2020, respectively, weighted average shares outstanding for the diluted earnings per common share included the dilutive effect of outstanding restricted stock units, stock options, and total shareholder return performance-based restricted stock units, determined using the treasury stock method. The dilutive effects of market-based contingently issuable shares 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. Dilutive effects of attainment-based contingently issuable shares granted to the former Laser Quantum Limited (“Laser Quantum”) noncontrolling interest shareholders, non-GAAP EPS performance-based restricted stock units and operating cash flow performance-based restricted stock units are included in the weighted average common share calculation when the performance targets have been achieved based on the cumulative achievement against the performance targets as of the end of each reporting period. The following table sets forth the computation of basic and diluted earnings per common share (amounts in thousands, except per share data): Three April 2, April 3, 2021 2020 Numerators: Consolidated net income $ 11,310 $ 11,947 Denominators: Weighted average common shares outstanding— basic 35,279 35,152 Dilutive potential common shares 510 409 Weighted average common shares outstanding— diluted 35,789 35,561 Antidilutive potential common shares excluded from above 27 52 Earnings per Common Share: Basic $ 0.32 $ 0.34 Diluted $ 0.32 $ 0.34 For the three months ended April 2, 2021, 46 thousand non-GAAP EPS performance-based restricted stock units and 37 thousand operating cash flow performance-based restricted stock units granted to certain members of the executive management team, and 213 thousand shares of restricted stock issued to the former Laser Quantum non-controlling interest shareholders are considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of April 2, 202 1 . For the three months ended April 3, 2020, 71 thousand non-GAAP EPS performance-based restricted stock units granted to certain members of the executive management team and 213 thousand shares of restricted stock issued to the former Laser Quantum non-controlling interest shareholders were considered contingently issuable shares and were excluded from the calculation of the denominator as the contingent conditions had not been met as of April 3, 2020.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 02, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements ASC 820, “Fair Value Measurements,” 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 an asset 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, 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 fair value of these foreign currency forward contracts is reported either in other current assets or in other current liabilities as of the end of the period. Contingent Considerations On July 31, 2019, the Company acquired ARGES GmbH (“ARGES”). Under the purchase and sale agreement for the ARGES acquisition, the former owner of ARGES is eligible to receive contingent consideration based on the achievement of certain revenue targets by the Company from August 2019 through December 2026. The undiscounted range of possible contingent consideration is zero to €10.0 million ($11.1 million). If the revenue targets are achieved, the contingent consideration would be payable annually with the first payment due in the first quarter of 2021. The estimated fair value of the contingent consideration of €7.1 million ($7.9 million) was determined based on the Monte Carlo valuation method and was recorded as part of the purchase price as of the acquisition date. Subsequent changes in the estimated fair value of the contingent consideration liability are recorded in the consolidated statement of operations in restructuring, acquisition, and related costs until the liability is fully settled. In March 2021, the Company made the first installment payment of €0.4 million ($0.4 million), which is included in cash flows from financing activities in the consolidated statement of cash flows for the three months ended April 2, 2021. There were no other changes in the fair value of the contingent consideration during the three months ended April 2, 2021. On April 16, 2019, the Company acquired Ingenia CAT, S.L. (“Ingenia”). Under the purchase and sale agreement for the Ingenia acquisition, the shareholders of Ingenia are eligible to receive contingent consideration based on the achievement of certain revenue targets by the Company from April 2019 through March 2022. The undiscounted range of possible contingent consideration is zero to €8.0 million ($9.0 million). If the revenue targets are achieved, the contingent consideration would be payable in cash in three annual installments from 2020 to 2022. The estimated fair value of the contingent consideration of €5.8 million ($6.6 million) was determined based on the Monte Carlo valuation method and was recorded as part of the purchase price as of the acquisition date. Subsequent changes in the estimated fair value of the contingent consideration liability are recorded in the consolidated statement of operations in restructuring , acquisition , and related costs until the liability is fully settled. Based on the revenue performance as of April 2, 2021 and the most recent revenue projections for fiscal years 2021 and 2022, the fair value of the contingent consideration was adjusted to € million ($ 2.9 million) as of April 2, 2021 . The Company made the first installment payment of € 1.0 million ($ 1.1 million) during the three months ended July 3, 2020. The Company is expected to make a second installment payment of € 1.3 million ($ 1.5 million) during the three months ended July 2, 2021. On December 14, 2016, the Company acquired certain video signal processing and management technologies used in medical visualization solutions. Under the purchase and sale agreement, the former owners are eligible to receive contingent consideration based on the achievement of certain revenue targets by the Company from 2018 to 2021 from products utilizing the acquired technologies. The undiscounted range of possible contingent consideration is zero to €5.5 million ($6.6 million). If the revenue targets are achieved, the contingent consideration would be payable in cash in four installments from 2019 to 2022. As the acquired assets did not meet the definition of a business, the fair value of the contingent consideration is recognized when probable and estimable and is capitalized as part of the cost of the acquired assets. Subsequent changes in the estimated fair value of this contingent liability are recorded as adjustments to the carrying value of the assets acquired and amortized over the remaining useful life of the underlying assets. The Company made the first installment payment of €2.4 million ($2.6 million) during the three months ended April 3, 2020. In February 2021, the Company made the second installment payment of €1.8 million ($2.2 million), which is included in cash flows from investing activities in the consolidated statement of cash flows for the three months ended April 2, 2021. There were no other changes in the fair value of the contingent consideration during the three months ended April 2, 2021. Summary by Fair Value Hierarchy The following table summarizes the fair values of the Company’s assets and liabilities measured at fair value on a recurring basis as of April 2, 2021 (in thousands): Quoted Prices in Significant Other Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 18,079 $ 18,079 $ — $ — Prepaid expenses and other current assets: Foreign currency forward contracts 8 — 8 — $ 18,087 $ 18,079 $ 8 $ — Liabilities Accrued expenses and other current liabilities: Contingent considerations - Current $ 3,711 $ — $ — $ 3,711 Foreign currency forward contracts 66 — 66 — Other liabilities: Contingent considerations - Long-term 4,999 — — 4,999 $ 8,776 $ — $ 66 $ 8,710 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, 2020 (in thousands): Quoted Prices in Significant Other Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 11,047 $ 11,047 $ — $ — Prepaid expenses and other current assets: Foreign currency forward contracts 27 — 27 — $ 11,074 $ 11,047 $ 27 $ — Liabilities Accrued expenses and other current liabilities: Contingent considerations - Current $ 4,280 $ — $ — $ 4,280 Foreign currency forward contracts — — — — Other liabilities: Contingent considerations - Long-term 7,276 — — 7,276 $ 11,556 $ — $ — $ 11,556 Changes in the fair value of Level 3 contingent considerations during the three months ended April 2, 2021 were as follows (in thousands): Contingent Considerations Balance at December 31, 2020 $ 11,556 Payments (2,635 ) Fair value adjustments 126 Effect of foreign exchange rates (337 ) Balance at April 2, 2021 $ 8,710 The following table provides qualitative information associated with the fair value measurement of the Company’s Level 3 liabilities: Liability April 2, 2021 Fair Value (in thousands) Valuation Technique Unobservable Inputs Percentage Applied Contingent consideration (ARGES) $4,439 Monte Carlo method Historical and projected revenues from August 2019 through December 2026 N/A Revenue volatility 21.0% Cost of debt 2.6% Discount rate 3.7% Contingent consideration (Ingenia) $2,872 Monte Carlo method Historical and projected revenues from April 2019 through March 2022 N/A Revenue volatility 38.5% Cost of debt 3.1% Discount rate 9.6% Contingent consideration (Other) $1,399 Discounted cash flow method Historical and projected revenues for fiscal years 2018 to 2021 N/A Revenue discount rate 22.8% Increases or decreases in the unobservable inputs noted above would result in a higher or lower fair value measurement. See Note 9 to Consolidated Financial Statements for a discussion of the estimated fair value of the Company’s outstanding debt.

Foreign Currency Contracts

Foreign Currency Contracts	3 Months Ended
	Apr. 02, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Foreign Currency Contracts	6. 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 exposures 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 April 2, 2021, the aggregate notional amount and fair value of the Company’s foreign currency forward contracts was $23.6 million and a net loss of less than $0.1 million, respectively. As of December 31, 2020, the aggregate notional amount and fair value of the Company’s foreign currency forward contracts was $28.5 million and a net gain of less than $0.1 million, respectively. The Company recognized an aggregate net gain of $0.7 million and an aggregate net loss of $0.3 million for the three months ended April 2, 2021 and April 3, 2020, respectively. These amounts were included in foreign exchange transaction gains (losses) in the consolidated statement of operations for all periods presented.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Apr. 02, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	7. Goodwill and Intangible Assets Goodwill Goodwill is recorded when the consideration for a business combination exceeds the fair value of net tangible and identifiable intangible assets acquired. The Company tests its goodwill balances for impairment annually 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 performed the most recent annual goodwill and indefinite-lived intangible asset impairment test as of the beginning of the second quarter of 2020 and noted no impairment. The following table summarizes changes in goodwill during the three months ended April 2, 2021 (in thousands): Balance at beginning of the period $ 285,980 Effect of foreign exchange rate changes (4,366 ) Balance at end of the period $ 281,614 Goodwill by reportable segment as of April 2, 2021 was as follows (in thousands): Reportable Segment Photonics Vision Precision Motion Total Goodwill $ 216,908 $ 162,634 $ 53,301 $ 432,843 Accumulated impairment of goodwill (102,461 ) (31,722 ) (17,046 ) (151,229 ) Total $ 114,447 $ 130,912 $ 36,255 $ 281,614 Goodwill by reportable segment as of December 31, 2020 was as follows (in thousands): Reportable Segment Photonics Vision Precision Motion Total Goodwill $ 218,517 $ 165,195 $ 53,497 $ 437,209 Accumulated impairment of goodwill (102,461 ) (31,722 ) (17,046 ) (151,229 ) Total $ 116,056 $ 133,473 $ 36,451 $ 285,980 Intangible Assets Intangible assets as of April 2, 2021 and December 31, 2020, respectively, are summarized as follows (in thousands): April 2, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Patents and developed technologies $ 162,773 $ (112,979 ) $ 49,794 $ 164,430 $ (110,572 ) $ 53,858 Customer relationships 165,528 (95,722 ) 69,806 167,429 (92,892 ) 74,537 Trademarks and trade names 18,239 (11,512 ) 6,727 18,367 (11,268 ) 7,099 Amortizable intangible assets 346,540 (220,213 ) 126,327 350,226 (214,732 ) 135,494 Non-amortizable intangible assets: Trade names 13,027 — 13,027 13,027 — 13,027 Totals $ 359,567 $ (220,213 ) $ 139,354 $ 363,253 $ (214,732 ) $ 148,521 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 was as follows (in thousands): Three April 2, April 3, 2021 2020 Amortization expense – cost of revenue $ 2,977 $ 2,734 Amortization expense – operating expenses 3,575 3,445 Total amortization expense $ 6,552 $ 6,179 Estimated amortization expense for each of the five succeeding years and thereafter as of April 2, 2021 was as follows (in thousands): Year Ending December 31, Cost of Revenue Operating Expenses Total 2021 (remainder of year) $ 8,809 $ 10,602 $ 19,411 2022 10,065 13,282 23,347 2023 8,848 11,547 20,395 2024 6,613 9,540 16,153 2025 5,175 7,934 13,109 Thereafter 10,284 23,628 33,912 Total $ 49,794 $ 76,533 $ 126,327

Supplementary Balance Sheet Inf

Supplementary Balance Sheet Information	3 Months Ended
	Apr. 02, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Supplementary Balance Sheet Information	8. Supplementary Balance Sheet Information The following tables provide the details of selected balance sheet items as of the periods indicated (in thousands): Inventories April 2, December 31, 2021 2020 Raw materials $ 52,752 $ 55,657 Work-in-process 15,406 15,487 Finished goods 20,442 20,234 Demo and consigned inventory 1,344 1,359 Total inventories $ 89,944 $ 92,737 Accrued Expenses and Other Current Liabilities April 2, December 31, 2021 2020 Accrued compensation and benefits $ 16,399 $ 12,510 Accrued warranty 4,514 4,919 Contract liabilities, current portion 5,292 6,173 Finance lease obligations 574 9,720 Accrued earn-out and contingent considerations 11,094 10,796 Other 10,788 9,662 Total $ 48,661 $ 53,780 Accrued Warranty Three Months Ended April 2, April 3, 2021 2020 Balance at beginning of the period $ 4,919 $ 5,756 Provision charged to cost of revenue 324 496 Use of provision (690 ) (535 ) Foreign currency exchange rate changes (39 ) (102 ) Balance at end of the period $ 4,514 $ 5,615 Other Long Term Liabilities April 2, December 31, 2021 2020 Finance lease obligations $ 5,760 $ 5,908 Accrued pension liabilities 1,132 1,511 Accrued contingent considerations 4,999 7,276 Other 2,445 2,471 Total $ 14,336 $ 17,166

Debt

Debt	3 Months Ended
	Apr. 02, 2021
Debt Disclosure [Abstract]
Debt	9. Debt Debt consisted of the following (in thousands): April 2, December 31, 2021 2020 Senior Credit Facilities – term loan $ 5,308 $ 5,545 Less: unamortized debt issuance costs (35 ) (37 ) Total current portion of long-term debt $ 5,273 $ 5,508 Senior Credit Facilities – term loan $ 93,940 $ 99,534 Senior Credit Facilities – revolving credit facility 96,300 99,761 Less: unamortized debt issuance costs (4,095 ) (4,368 ) Total long-term debt $ 186,145 $ 194,927 Total Senior Credit Facilities $ 191,418 $ 200,435 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 Senior Credit Facilities mature in December 2024 and includes an uncommitted “accordion” feature pursuant to which the commitments under the revolving credit facility may be increased by an additional $200.0 million in aggregate, subject to certain customary conditions. On March 27, 2020, the Company entered into an amendment (the “First Amendment”) to the Third Amended and Restated Credit Agreement The outstanding principal balance under the term loan facility is payable in quarterly installments of €1.1 million beginning 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 December 2024. The Company repaid €1.1 million ($1.3 million) of its term loan during the three months ended April 2, 2021. The Company is required to satisfy certain financial and non-financial covenants under the Third Amended and Restated Credit Agreement. The Third Amended and Restated Credit Agreement also contains customary events of default. The Company was in compliance with these covenants as of April 2, 2021. 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. Fair Value of Debt As of April 2, 2021 and December 31, 2020, the outstanding balance of the Company’s debt approximated its fair value based on current rates available to the Company for debt of similar maturities. The fair value of the Company’s debt is classified as Level 2 under the fair value hierarchy.

Leases

Leases	3 Months Ended
	Apr. 02, 2021
Leases [Abstract]
Leases	10. Leases Most leases held by the Company expire between 2021 and 2034. In the U.K., where longer lease terms are more common, the Company has a land lease that extends through 2078. Certain leases include 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 options 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 lives of the right-of-use assets and leasehold improvements are limited to the expected lease terms. The following table summarizes the components of lease costs (in thousands): Three April 2, April 3, 2021 2020 Operating lease cost $ 1,831 $ 2,037 Finance lease cost Amortization of right-of-use assets 150 248 Interest on lease liabilities 87 110 Variable lease cost 235 379 Total lease cost $ 2,303 $ 2,774 The following table provides additional details of balance sheet information related to the Company’s leases (in thousands, except lease term and discount rate): April 2, December 31, 2021 2020 Operating leases Operating lease right-of-use assets $ 31,642 $ 34,444 Current portion of operating lease liabilities $ 5,895 $ 6,188 Operating lease liabilities 30,934 32,802 Total operating lease liabilities $ 36,829 $ 38,990 Finance leases Property, plant and equipment, gross $ 9,583 $ 19,819 Accumulated depreciation (4,617 ) (4,934 ) Finance lease assets included in property, plant and equipment, net $ 4,966 $ 14,885 Accrued expenses and other current liabilities $ 574 $ 9,720 Other liabilities 5,760 5,908 Total finance lease liabilities $ 6,334 $ 15,628 Weighted-average remaining lease term (in years) Operating leases 9.4 9.3 Finance leases 8.3 3.5 Weighted-average discount rate Operating leases 5.49 % 5.50 % Finance leases 5.54 % 3.00 % The following table provides additional details of cash flow information related to the Company’s leases (in thousands): Three Months Ended April 2, April 3, 2021 2020 Cash paid for amounts included in lease liabilities: Operating cash flows from finance leases $ 87 $ 110 Operating cash flows from operating leases $ 1,348 $ 2,258 Financing cash flows from finance leases $ 8,883 $ 369 Supplemental non-cash information: Right-of-use assets obtained in exchange for new operating lease liabilities $ 155 $ 1,331 During the three months ended April 2, 2021, the Company paid $8.7 million upon the exercise of an option to purchase a building under a finance lease agreement in Germany. The cash payment is presented as a cash outflow from financing activities in the consolidated statement of cash flows. Future minimum lease payments under operating and finance leases expiring subsequent to April 2, 2021, 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 2021 (remainder of year) $ 5,650 $ 680 2022 6,706 907 2023 5,370 930 2024 4,583 954 2025 4,571 954 Thereafter 22,037 3,486 Total minimum lease payments 48,917 7,911 Less: Interest (12,088 ) (1,577 ) Present value of lease liabilities $ 36,829 $ 6,334

Common Shares and Share-Based C

Common Shares and Share-Based Compensation	3 Months Ended
	Apr. 02, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Common Shares and Share-Based Compensation	11. Common Shares and Share-Based Compensation Common Share Repurchases 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 the Company’s common shares. 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 the Company’s common shares. As of April 2, 2021, the Company had $59.5 million available for future share repurchases under the 2018 and 2020 Share Repurchase Plans. Share-Based Compensation Expense The table below summarizes share-based compensation expense recorded in the consolidated statements of operations (in thousands): Three April 2, April 3, 2021 2020 Selling, general and administrative $ 4,929 $ 2,798 Research and development and engineering 727 193 Cost of revenue 988 208 Total share-based compensation expense $ 6,644 $ 3,199 Share-based compensation expense reported in selling, general and administrative expenses included expenses related to restricted stock units and deferred stock units granted to the members of the Company’s Board of Directors of $1.1 million and $0.9 million during the three months ended April 2, 2021 and April 3, 2020, respectively. Restricted Stock Units and Deferred Stock Units The Company’s restricted stock units (“RSUs”) have generally been issued 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 historical forfeiture experience. Deferred stock units (“DSUs”) are granted to the members of the Company’s Board of Directors. Compensation expense associated with the DSUs is recognized in full on the date of grant, as the DSUs are fully vested and non-forfeitable upon grant. There were 171 thousand and 162 thousand DSUs outstanding as of April 2, 2021 and December 31, 2020, respectively, which were included in the calculation of weighted average basic shares outstanding for the respective periods. The table below summarizes activities relating to RSUs and DSUs issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the three months ended April 2, 2021: Shares (In thousands) Weighted Average Grant Date Fair Value Unvested at December 31, 2020 625 $ 58.79 Granted 91 $ 130.76 Vested (283 ) $ 75.06 Forfeited (4 ) $ 88.18 Unvested at April 2, 2021 429 $ 63.05 Expected to vest as of April 2, 2021 405 The total fair value of RSUs and DSUs that vested during the three months ended April 2, 2021 was $39.9 million based on the market price of the underlying shares on the date of vesting. Performance Stock Units The Company typically grants two types of performance-based stock awards to certain members of the executive management team: non-GAAP EPS performance-based restricted stock units (“EPS-PSUs”) and relative total shareholder return performance-based restricted stock units (“TSR-PSUs”). Both types of performance-based restricted stock units generally cliff vest on the first day following the end of the three-year The number of common shares to be issued upon settlement following vesting of the EPS-PSUs is determined based on the Company’s cumulative non-GAAP EPS over a three-year performance period against the performance 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 compensation expense ratably over the performance period based on the number of shares that are deemed probable of vesting at the end of the three-year performance cycle. 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 shares to be issued upon settlement following vesting of the TSR-PSUs is determined based on the relative market performance of the Company’s common shares compared to the Russell 2000 Index over a three-year In February 2021, the Company granted operating cash flow performance-based restricted stock units (“OCF-PSUs”) to certain members of the executive management team. Upon completion of the requisite service periods, the OCF-PSUs will vest in two tranches if the Company achieves the cumulative operating cash flow performance target for fiscal years 2021 through 2023 as approved by the Company’s Compensation Committee as of the date of grant. The first fifty percent of the OCF-PSU grant will vest at the end of the four-year five-year The table below summarizes the activities relating to the performance-based awards issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the three months ended April 2, 2021: Shares (In thousands) Weighted Average Grant Date Fair Value Unvested at December 31, 2020 142 $ 88.99 Granted 67 $ 150.89 Performance adjustment 28 $ 67.72 Vested (75 ) $ 64.25 Forfeited — $ — Unvested at April 2, 2021 162 $ 122.26 Expected to vest as of April 2, 2021 136 The unvested PSUs are shown at target in the table above. As of April 2, 2021, the maximum number of shares to be earned under these PSU grants was approximately 286 thousand shares. The performance adjustment shares and vested shares shown in the table above are for performance-based awards granted on February 22, 2018. These awards vested at 160% of target number of shares during the three months ended April 2, 2021 based on the achievement of cumulative Non-GAAP EPS and applicable relative TSR performance conditions during the performance period of fiscal years 2018 through 2020. The total fair value of PSUs that vested during the three months ended April 2, 2021 was $9.3 million based on the market price of the underlying shares on the date of vesting. The fair value of the TSR-PSUs at the date of grant was estimated using the Monte Carlo valuation model with the following assumptions: Three Months Ended April 2, 2021 Grant-date stock price $ 138.23 Expected volatility 42.44 % Risk-free interest rate 0.22 % Expected annual dividend yield — Fair value $ 166.64 Stock Options No stock options were granted during the three months ended April 2, 2021. There were 60 thousand fully-vested stock options outstanding as of April 2, 2021.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 02, 2021
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes The Company determines its estimated annual effective tax rate at the end of each interim period based on full-year forecasted pre-tax income and facts known at that time. The estimated annual effective tax rate is applied to the year-to-date pre-tax income at the end of each interim period with the cumulative effect of any changes in the estimated annual effective tax rate being recorded in the fiscal quarter in which the change is determined. The tax effect of significant unusual items is reflected in the period in which they occur. Since the Company is incorporated in Canada, it is required to use Canada’s statutory tax rate of 29.0% in the determination of the estimated annual effective tax rate. The Company maintains a valuation allowance on balances of certain U.S. state net operating losses and certain non-U.S. tax attributes that the Company has determined are more likely than not to be realized. A valuation allowance is required when, based upon an assessment of various factors, including recent operating loss history, anticipated future earnings, and prudent and reasonable tax planning strategies, it is more likely than not that some portion of the deferred tax assets will not 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. The Company’s effective tax rate of (20.8)% for the three months ended April 2, 2021 differs from the Canadian statutory tax rate of 29.0% primarily due to the mix of income earned in jurisdictions with varying tax rates, estimated deductions for Foreign Derived Intangible Income, U.K. patent box deductions, other tax credits, and windfall tax benefits upon vesting of certain share-based compensation awards during the period. For the three months ended April 2, 2021, the windfall tax benefits upon vesting of certain share-based compensation awards had a benefit of 35.9% on the Company’s effective tax rate. The Company’s effective tax rate of (0.3)% for the three months ended April 3, 2020 differs from the Canadian statutory tax rate of 29.0% primarily due to the mix of income earned in jurisdictions with varying tax rates, estimated deductions for Foreign Derived Intangible Income, U.K. patent box deductions and other tax credits and windfall tax benefits upon vesting of certain share-based compensation awards during the period. For the three months ended April 3, 2020, the windfall tax benefits upon vesting of certain share-based compensation awards had a benefit of 19.8% on the Company’s effective tax rate.

Restructuring, Acquisition, and

Restructuring, Acquisition, and Related Costs	3 Months Ended
	Apr. 02, 2021
Restructuring And Related Activities [Abstract]
Restructuring, Acquisition, and Related Costs	13. Restructuring, Acquisition, and Related Costs The following table summarizes restructuring, acquisition, and related costs in the accompanying consolidated statements of operations (in thousands): Three April 2, April 3, 2021 2020 2020 restructuring $ 1,338 $ — 2019 restructuring 208 569 2018 restructuring — 86 Total restructuring charges 1,546 655 Acquisition and related charges 2,185 1,006 Total restructuring, acquisition, and related costs $ 3,731 $ 1,661 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 is 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 will be focused on cost reduction actions that improve gross margins for the overall company. During the three months ended April 2, 2021, the Company recorded $1.3 million in severance and other costs in connection with the 2020 restructuring program. As of April 2, 2021, the Company had incurred cumulative costs related to this restructuring plan totaling $4.1 million. The Company anticipates substantially completing the 2020 restructuring program in the fourth quarter of 2021 and expects to incur additional restructuring charges of $6.0 million to $7.0 million related to the 2020 restructuring program in the next twelve months. The following table summarizes restructuring costs associated with the 2020 restructuring program by reportable segment (in thousands): Three April 2, April 3, 2021 2020 Photonics $ 295 $ — Vision 422 — Precision Motion 621 — Unallocated Corporate and Shared Services — — Total $ 1,338 $ — 2019 Restructuring During the fourth quarter of 2018, the Company implemented a restructuring plan intended to realign operations, reduce costs, achieve operational efficiencies and focus resources on growth initiatives (the “2019 restructuring plan”). During the three months ended April 2, 2021, the Company recorded $0.2 million in severance and related costs in connection with the 2019 restructuring plan. These costs were reported in the Vision reportable segment. As of April 2, 2021, the Company incurred cumulative costs related to this restructuring plan totaling $9.0 million. The 2019 restructuring program was completed in the first quarter of 2021. 2018 Restructuring During the second quarter of 2018, the Company initiated a program to integrate manufacturing operations as a result of acquisition activities (the “2018 restructuring plan”). The Company did not incur any costs related to the 2018 restructuring plan during the three months ended April 2, 2021. As of April 2, 2021, the Company incurred cumulative costs related to this restructuring plan totaling $3.6 million. The 2018 restructuring program was completed in 2020. Rollforward of Accrued Expenses Related to Restructuring The following table summarizes the accrual activities, by component, related to the Company’s restructuring plans recorded in the accompanying consolidated balance sheets (in thousands): Total Severance Facility Other Balance at December 31, 2020 $ 1,800 $ 1,681 $ 116 $ 3 Restructuring charges 1,546 1,061 382 103 Cash payments (638 ) (490 ) (45 ) (103 ) Non-cash charges and other adjustments (201 ) 12 (213 ) — Balance at April 2, 2021 $ 2,507 $ 2,264 $ 240 $ 3 Acquisition and Related Charges Acquisition costs in connection with business combinations, including finders’ fees, legal, valuation, and other professional or consulting fees, totaled $0.2 million and $0.1 million for the three months ended April 2, 2021 and April 3, 2020, respectively. During the three months ended April 2, 2021, the Company incurred $0.9 million in legal costs related to a dispute involving a company that was acquired in 2019. Acquisition and related costs recognized under earn-out agreements in connection with acquisitions totaled $1.0 million and $0.9 million for the three months ended April 2, 2021 and April 3, 2020, respectively. The majority of acquisition and related costs for the three months ended April 2, 2021 were included in the Company’s Precision Motion and Vision reportable segments. The majority of acquisition and related costs for the three months ended April 3, 2020 were included in the Company’s Precision Motion and Unallocated Corporate and Shared Services reportable segments.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 02, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies Purchase Commitments There have been no material changes to the Company’s purchase commitments since December 31, 2020. Legal Contingencies In April 2020, the Company received notification of an arbitration demand filed with the American Arbitration Association against a business acquired by the Company in June 2019. The arbitration demand was filed by a contract counterparty to a joint product development agreement entered into by the business before Novanta acquired it. The arbitration demand alleges breach of contract and other claims arising out of allegations that the business failed to engage in required marketing activities for the product developed under the joint product development agreement. The claimant is seeking compensatory and punitive damages, lost profits and other relief. The Company believes that the claims are without merit and no amount has been accrued for in the consolidated financial statements. 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 probability and the determination as to whether an 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 litigations and may revise its estimates. When a material loss contingency is reasonably possible but not probable, the Company does not record a liability, but instead discloses the nature and the amount of the claim, and an estimate of the loss or range of loss, if such an estimate can be made. Legal fees are expensed as incurred. 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 the 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 his or her 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.

Segment Information

Segment Information	3 Months Ended
	Apr. 02, 2021
Segment Reporting [Abstract]
Segment Information	15. Segment Information Reportable Segments The Company’s Chief Operating Decision Maker (“CODM”) utilizes financial information to make decisions about allocating resources and assessing performance for the entire Company. The Company evaluates the performance of, and allocates resources to, its segments based on revenue, gross profit and operating profit. The Company’s reportable segments have been identified based on commonality and adjacency of technologies, applications and customers amongst the Company’s individual product lines. The Company determined that disclosing revenue by specific product was impracticable due to the highly customized and extensive portfolio of technologies offered to customers. Based upon the information provided to the CODM, the Company has determined that it operates in three reportable segments: Photonics, Vision, and Precision Motion. The reportable segments and their principal activities consist of the following: Photonics The Photonics segment designs, manufactures and markets photonics-based solutions, including laser scanning, laser beam delivery, CO2 laser, solid state laser, ultrafast laser, and optical light engine products to customers worldwide. The segment serves highly demanding photonics-based applications for advanced industrial processes, metrology, medical and life science imaging, DNA sequencing, and medical laser procedures. The vast majority of the segment’s product offerings are sold to OEM customers. The segment sells these products both directly, utilizing a highly technical sales force, and indirectly, through resellers and distributors. Vision The Vision segment designs, manufactures and markets a range of medical grade technologies, including medical insufflators, pumps and related disposables; visualization solutions; wireless, recorder and video integration technologies for operating room integrations; optical data collection and machine vision technologies; radio frequency identification (“RFID”) technologies; thermal chart recorders; spectrometry technologies; and embedded touch screen solutions. The vast majority of the segment’s product offerings are sold to OEM customers. The segment sells these products both directly, utilizing a highly technical sales force, and indirectly, through resellers and distributors. Precision Motion The Precision Motion segment designs, manufactures and markets optical and inductive encoders, precision motor and motion control sub-assemblies, servo drives, air bearings, and air bearing spindles to customers worldwide. The vast majority of the segment’s product offerings are sold to OEM customers. The segment sells these products both directly, utilizing a highly technical sales force, and indirectly, through resellers and distributors . Reportable Segment Financial Information Revenue, gross profit, gross profit margin, operating income (loss), and depreciation and amortization expenses by reportable segment were as follows (in thousands, except percentage data): Three April 2, April 3, Revenue 2021 2020 Photonics $ 58,493 $ 55,140 Vision 67,636 69,008 Precision Motion 36,455 31,320 Total $ 162,584 $ 155,468 Three April 2, April 3, Gross Profit 2021 2020 Photonics $ 28,109 $ 24,661 Vision 26,926 26,575 Precision Motion 16,077 13,908 Unallocated Corporate and Shared Services (2,372 ) (699 ) Total $ 68,740 $ 64,445 Three April 2, April 3, Gross Profit Margin 2021 2020 Photonics 48.1 % 44.7 % Vision 39.8 % 38.5 % Precision Motion 44.1 % 44.4 % Total 42.3 % 41.5 % Three April 2, April 3, Operating Income (Loss) 2021 2020 Photonics $ 12,395 $ 8,915 Vision 3,366 5,634 Precision Motion 7,446 6,538 Unallocated Corporate and Shared Services (12,108 ) (7,837 ) Total $ 11,099 $ 13,250 Three April 2, April 3, Depreciation and Amortization Expenses 2021 2020 Photonics $ 2,898 $ 2,649 Vision 5,275 5,277 Precision Motion 1,607 1,353 Unallocated Corporate and Shared Services 69 51 Total $ 9,849 $ 9,330 Revenue by Geography The Company aggregates geographic revenue based on the customer location where products are shipped to. Revenue from these customers was as follows (in thousands): Three April 2, April 3, 2021 2020 United States $ 59,230 $ 59,205 Germany 22,363 23,233 Rest of Europe 35,575 33,085 China 22,551 15,404 Rest of Asia-Pacific 20,747 21,700 Other 2,118 2,841 Total $ 162,584 $ 155,468 The majority of revenue from our Photonics, Vision and Precision Motion segments is generated from sales to customers within the United States and Europe. Revenue by End Market The Company primarily operates in two end markets: the medical market and advanced industrial market. Revenue by end market was approximately as follows: Three April 2, April 3, 2021 2020 Medical 55 % 58 % Advanced Industrial 45 % 42 % Total 100 % 100 % The majority of revenue from the Photonics and Precision Motion segments is generated from sales to customers in the advanced industrial market. The majority of revenue from the Vision segment is generated from sales to customers in the medical market.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Apr. 02, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Novanta Inc. and its subsidiaries (collectively referred to as “Novanta”, the “Company”, “we”, “us”, “our”) is a leading global supplier of core technology solutions that give medical and advanced industrial original equipment manufacturers (“OEMs”) a competitive advantage. Novanta combines deep proprietary technology expertise and competencies in photonics, vision and precision motion 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. The accompanying unaudited interim consolidated financial statements have been prepared by the Company in United States (“U.S.”) dollars and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”), the instructions to Form 10-Q and the provisions of Regulation S-X pertaining to interim financial statements. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the U.S. have been condensed or omitted. The interim consolidated financial statements and notes included in this report should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. In the opinion of management, these interim consolidated financial statements include all adjustments and accruals of a normal and recurring nature necessary to fairly state the results of the interim periods presented. The results for interim periods are not necessarily indicative of results to be expected for the full year or for any future periods. The Company’s unaudited interim consolidated financial statements are prepared for each quarterly period ending on the Friday closest to the end of the calendar quarter, with the exception of the fourth quarter which always ends on December 31.
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 as of 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, including estimated economic implications of the COVID-19 pandemic, and various other assumptions that it believes are reasonable under the circumstances. The accounting estimates assessed included, but were not limited to, the Company’s allowance for doubtful accounts and credit losses, inventory and related reserves and the carrying value of goodwill and other long-lived assets. While there was not a material change to the consolidated financial statements related to these estimates as of and for the three months ended April 2, 2021, the Company’s future assessment of the magnitude and duration of the COVID-19 pandemic, as well as other factors, could result in material impacts to the Company’s consolidated financial statements in future reporting periods.
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 December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” ASU 2019-12 simplifies the accounting for income taxes by removing certain exceptions to the general principles of Accounting Standards Codification (“ASC”) 740, “Income Taxes”, including: (i) the exception to the incremental approach for intraperiod tax allocation when there is a loss from continuing operations and income or a gain from other items; (ii) the exception to the requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment (or vice-versa); and (iii) the exception for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. ASU 2019-12 also simplifies GAAP for other areas of ASC 740 by clarifying and amending the existing guidance. January 1, 2021. Early adoption is permitted. The adoption of ASU 2019-12 did not have a material impact on the Company’s consolidated financial statements In March 2020, the FASB issued ASU 2020-04, “Reference rate reform (Topic 848): Facilitation of the effects of reference rate reform on financial reporting.” ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. Upon issuance. ASU 2020-04 is elective. The Company does not expect the impact of ASU 2020-04 to be material to its consolidated financial statements.
Revenue Recognition	The Company recognizes revenue when control of promised goods or services is transferred to customers. 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 for the maintenance and repair of products are typically short in duration, mostly less than one month, and generally involve a single distinct performance obligation. The related revenue is recognized at a point in time when control transfers to the customer upon completion of professional services. The consideration expected to be received in exchange for such services is typically the contractually stated amount. Certain engineering services are longer in duration and the related revenue is recognized over time, as the Company has a right to consideration from a customer, based on the corresponding value to the customer from the Company’s performance completed to date. Professional services aggregate to less than 3 % of the Company’s consolidated revenue. 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 & 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 24 months for the Photonics and Precision Motion segments and 12 months to 36 months for the Vision segment. 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 cost related to warranty is recorded as 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 transfer of a promised good to a customer and the customer’s payment for that good are 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 April 2, 2021 and December 31, 2020, contract liabilities were $5.6 million and $6.5 million, respectively, and are included in accrued expenses and other current liabilities and other liabilities in the accompanying consolidated balance sheets. The decrease in the contract liability balance during the three months ended April 2, 2021 is primarily due to $2.8 million of revenue recognized during the period that was included in the contract liability balance at December 31, 2020, partially offset by cash payments received in advance of satisfying performance obligations. Disaggregated Revenue See Note 15 for the Company’s disaggregation of revenue by segment, geography and end market.
Foreign Currency Contracts	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 exposures to counterparty risks on derivative instruments by entering into contracts with a diversified group of major financial institutions and by actively monitoring outstanding positions.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Apr. 02, 2021
Equity [Abstract]
Components of Accumulated Other Comprehensive Loss	Changes in accumulated other comprehensive loss was as follows (in thousands): Total Accumulated Other Cumulative Pension Comprehensive Translation Liability Loss Adjustments Adjustments Balance at December 31, 2020 $ (12,241 ) $ (2,296 ) $ (9,945 ) Other comprehensive income (loss) (609 ) (489 ) (120 ) Amounts reclassified from accumulated other comprehensive loss 241 — 241 Balance at April 2, 2021 $ (12,609 ) $ (2,785 ) $ (9,824 )

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Apr. 02, 2021
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 (amounts in thousands, except per share data): Three April 2, April 3, 2021 2020 Numerators: Consolidated net income $ 11,310 $ 11,947 Denominators: Weighted average common shares outstanding— basic 35,279 35,152 Dilutive potential common shares 510 409 Weighted average common shares outstanding— diluted 35,789 35,561 Antidilutive potential common shares excluded from above 27 52 Earnings per Common Share: Basic $ 0.32 $ 0.34 Diluted $ 0.32 $ 0.34

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Apr. 02, 2021
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 April 2, 2021 (in thousands): Quoted Prices in Significant Other Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 18,079 $ 18,079 $ — $ — Prepaid expenses and other current assets: Foreign currency forward contracts 8 — 8 — $ 18,087 $ 18,079 $ 8 $ — Liabilities Accrued expenses and other current liabilities: Contingent considerations - Current $ 3,711 $ — $ — $ 3,711 Foreign currency forward contracts 66 — 66 — Other liabilities: Contingent considerations - Long-term 4,999 — — 4,999 $ 8,776 $ — $ 66 $ 8,710 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, 2020 (in thousands): Quoted Prices in Significant Other Active Markets for Significant Other Unobservable Identical Assets Observable Inputs Inputs Fair Value (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ 11,047 $ 11,047 $ — $ — Prepaid expenses and other current assets: Foreign currency forward contracts 27 — 27 — $ 11,074 $ 11,047 $ 27 $ — Liabilities Accrued expenses and other current liabilities: Contingent considerations - Current $ 4,280 $ — $ — $ 4,280 Foreign currency forward contracts — — — — Other liabilities: Contingent considerations - Long-term 7,276 — — 7,276 $ 11,556 $ — $ — $ 11,556
Changes in Fair Value of Level 3 Contingent Considerations	Changes in the fair value of Level 3 contingent considerations during the three months ended April 2, 2021 were as follows (in thousands): Contingent Considerations Balance at December 31, 2020 $ 11,556 Payments (2,635 ) Fair value adjustments 126 Effect of foreign exchange rates (337 ) Balance at April 2, 2021 $ 8,710
Schedule of Fair Value Measurement Inputs and Valuation Techniques	The following table provides qualitative information associated with the fair value measurement of the Company’s Level 3 liabilities: Liability April 2, 2021 Fair Value (in thousands) Valuation Technique Unobservable Inputs Percentage Applied Contingent consideration (ARGES) $4,439 Monte Carlo method Historical and projected revenues from August 2019 through December 2026 N/A Revenue volatility 21.0% Cost of debt 2.6% Discount rate 3.7% Contingent consideration (Ingenia) $2,872 Monte Carlo method Historical and projected revenues from April 2019 through March 2022 N/A Revenue volatility 38.5% Cost of debt 3.1% Discount rate 9.6% Contingent consideration (Other) $1,399 Discounted cash flow method Historical and projected revenues for fiscal years 2018 to 2021 N/A Revenue discount rate 22.8%

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Apr. 02, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Changes in Goodwill	The following table summarizes changes in goodwill during the three months ended April 2, 2021 (in thousands): Balance at beginning of the period $ 285,980 Effect of foreign exchange rate changes (4,366 ) Balance at end of the period $ 281,614
Goodwill by Reportable Segment	Goodwill by reportable segment as of April 2, 2021 was as follows (in thousands): Reportable Segment Photonics Vision Precision Motion Total Goodwill $ 216,908 $ 162,634 $ 53,301 $ 432,843 Accumulated impairment of goodwill (102,461 ) (31,722 ) (17,046 ) (151,229 ) Total $ 114,447 $ 130,912 $ 36,255 $ 281,614 Goodwill by reportable segment as of December 31, 2020 was as follows (in thousands): Reportable Segment Photonics Vision Precision Motion Total Goodwill $ 218,517 $ 165,195 $ 53,497 $ 437,209 Accumulated impairment of goodwill (102,461 ) (31,722 ) (17,046 ) (151,229 ) Total $ 116,056 $ 133,473 $ 36,451 $ 285,980
Intangible Assets	Intangible assets as of April 2, 2021 and December 31, 2020, respectively, are summarized as follows (in thousands): April 2, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Amount Accumulated Amortization Net Carrying Amount Amortizable intangible assets: Patents and developed technologies $ 162,773 $ (112,979 ) $ 49,794 $ 164,430 $ (110,572 ) $ 53,858 Customer relationships 165,528 (95,722 ) 69,806 167,429 (92,892 ) 74,537 Trademarks and trade names 18,239 (11,512 ) 6,727 18,367 (11,268 ) 7,099 Amortizable intangible assets 346,540 (220,213 ) 126,327 350,226 (214,732 ) 135,494 Non-amortizable intangible assets: Trade names 13,027 — 13,027 13,027 — 13,027 Totals $ 359,567 $ (220,213 ) $ 139,354 $ 363,253 $ (214,732 ) $ 148,521
Amortization Expense of Intangible Assets	Amortization expense was as follows (in thousands): Three April 2, April 3, 2021 2020 Amortization expense – cost of revenue $ 2,977 $ 2,734 Amortization expense – operating expenses 3,575 3,445 Total amortization expense $ 6,552 $ 6,179
Estimated Amortization Expense	Estimated amortization expense for each of the five succeeding years and thereafter as of April 2, 2021 was as follows (in thousands): Year Ending December 31, Cost of Revenue Operating Expenses Total 2021 (remainder of year) $ 8,809 $ 10,602 $ 19,411 2022 10,065 13,282 23,347 2023 8,848 11,547 20,395 2024 6,613 9,540 16,153 2025 5,175 7,934 13,109 Thereafter 10,284 23,628 33,912 Total $ 49,794 $ 76,533 $ 126,327

Supplementary Balance Sheet I_2

Supplementary Balance Sheet Information (Tables)	3 Months Ended
	Apr. 02, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Inventories	Inventories April 2, December 31, 2021 2020 Raw materials $ 52,752 $ 55,657 Work-in-process 15,406 15,487 Finished goods 20,442 20,234 Demo and consigned inventory 1,344 1,359 Total inventories $ 89,944 $ 92,737
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities April 2, December 31, 2021 2020 Accrued compensation and benefits $ 16,399 $ 12,510 Accrued warranty 4,514 4,919 Contract liabilities, current portion 5,292 6,173 Finance lease obligations 574 9,720 Accrued earn-out and contingent considerations 11,094 10,796 Other 10,788 9,662 Total $ 48,661 $ 53,780
Accrued Warranty	Accrued Warranty Three Months Ended April 2, April 3, 2021 2020 Balance at beginning of the period $ 4,919 $ 5,756 Provision charged to cost of revenue 324 496 Use of provision (690 ) (535 ) Foreign currency exchange rate changes (39 ) (102 ) Balance at end of the period $ 4,514 $ 5,615
Other Long Term Liabilities	Other Long Term Liabilities April 2, December 31, 2021 2020 Finance lease obligations $ 5,760 $ 5,908 Accrued pension liabilities 1,132 1,511 Accrued contingent considerations 4,999 7,276 Other 2,445 2,471 Total $ 14,336 $ 17,166

Debt (Tables)

Debt (Tables)	3 Months Ended
	Apr. 02, 2021
Debt Disclosure [Abstract]
Debt	Debt consisted of the following (in thousands): April 2, December 31, 2021 2020 Senior Credit Facilities – term loan $ 5,308 $ 5,545 Less: unamortized debt issuance costs (35 ) (37 ) Total current portion of long-term debt $ 5,273 $ 5,508 Senior Credit Facilities – term loan $ 93,940 $ 99,534 Senior Credit Facilities – revolving credit facility 96,300 99,761 Less: unamortized debt issuance costs (4,095 ) (4,368 ) Total long-term debt $ 186,145 $ 194,927 Total Senior Credit Facilities $ 191,418 $ 200,435

Leases (Tables)

Leases (Tables)	3 Months Ended
	Apr. 02, 2021
Leases [Abstract]
Summary of Components of Lease Costs	The following table summarizes the components of lease costs (in thousands): Three April 2, April 3, 2021 2020 Operating lease cost $ 1,831 $ 2,037 Finance lease cost Amortization of right-of-use assets 150 248 Interest on lease liabilities 87 110 Variable lease cost 235 379 Total lease cost $ 2,303 $ 2,774
Summary of Balance Sheet Information Related to Leases	The following table provides additional details of balance sheet information related to the Company’s leases (in thousands, except lease term and discount rate): April 2, December 31, 2021 2020 Operating leases Operating lease right-of-use assets $ 31,642 $ 34,444 Current portion of operating lease liabilities $ 5,895 $ 6,188 Operating lease liabilities 30,934 32,802 Total operating lease liabilities $ 36,829 $ 38,990 Finance leases Property, plant and equipment, gross $ 9,583 $ 19,819 Accumulated depreciation (4,617 ) (4,934 ) Finance lease assets included in property, plant and equipment, net $ 4,966 $ 14,885 Accrued expenses and other current liabilities $ 574 $ 9,720 Other liabilities 5,760 5,908 Total finance lease liabilities $ 6,334 $ 15,628 Weighted-average remaining lease term (in years) Operating leases 9.4 9.3 Finance leases 8.3 3.5 Weighted-average discount rate Operating leases 5.49 % 5.50 % Finance leases 5.54 % 3.00 %
Summary of Cash Flow Information Related to Leases	The following table provides additional details of cash flow information related to the Company’s leases (in thousands): Three Months Ended April 2, April 3, 2021 2020 Cash paid for amounts included in lease liabilities: Operating cash flows from finance leases $ 87 $ 110 Operating cash flows from operating leases $ 1,348 $ 2,258 Financing cash flows from finance leases $ 8,883 $ 369 Supplemental non-cash information: Right-of-use assets obtained in exchange for new operating lease liabilities $ 155 $ 1,331
Future Minimum Lease Payments Under Operating and Finance Leases	Future minimum lease payments under operating and finance leases expiring subsequent to April 2, 2021, 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 2021 (remainder of year) $ 5,650 $ 680 2022 6,706 907 2023 5,370 930 2024 4,583 954 2025 4,571 954 Thereafter 22,037 3,486 Total minimum lease payments 48,917 7,911 Less: Interest (12,088 ) (1,577 ) Present value of lease liabilities $ 36,829 $ 6,334

Common Shares and Share-Based_2

Common Shares and Share-Based Compensation (Tables)	3 Months Ended
	Apr. 02, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-Based Compensation Expense Recorded in the Consolidated Statements of Operations	The table below summarizes share-based compensation expense recorded in the consolidated statements of operations (in thousands): Three April 2, April 3, 2021 2020 Selling, general and administrative $ 4,929 $ 2,798 Research and development and engineering 727 193 Cost of revenue 988 208 Total share-based compensation expense $ 6,644 $ 3,199
Schedule of Share Based Payment Award Performance Stock Awards Valuation Assumptions	The fair value of the TSR-PSUs at the date of grant was estimated using the Monte Carlo valuation model with the following assumptions: Three Months Ended April 2, 2021 Grant-date stock price $ 138.23 Expected volatility 42.44 % Risk-free interest rate 0.22 % Expected annual dividend yield — Fair value $ 166.64
Amended and Restated 2010 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted Stock Units and Deferred Stock Units Issued and Outstanding	The table below summarizes activities relating to RSUs and DSUs issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the three months ended April 2, 2021: Shares (In thousands) Weighted Average Grant Date Fair Value Unvested at December 31, 2020 625 $ 58.79 Granted 91 $ 130.76 Vested (283 ) $ 75.06 Forfeited (4 ) $ 88.18 Unvested at April 2, 2021 429 $ 63.05 Expected to vest as of April 2, 2021 405
Performance-Based Awards Issued and Outstanding	The table below summarizes the activities relating to the performance-based awards issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the three months ended April 2, 2021: Shares (In thousands) Weighted Average Grant Date Fair Value Unvested at December 31, 2020 142 $ 88.99 Granted 67 $ 150.89 Performance adjustment 28 $ 67.72 Vested (75 ) $ 64.25 Forfeited — $ — Unvested at April 2, 2021 162 $ 122.26 Expected to vest as of April 2, 2021 136

Restructuring, Acquisition, a_2

Restructuring, Acquisition, and Related Costs (Tables)	3 Months Ended
	Apr. 02, 2021
Restructuring And Related Activities [Abstract]
Schedule of Restructuring, Acquisition and Related Costs	The following table summarizes restructuring, acquisition, and related costs in the accompanying consolidated statements of operations (in thousands): Three April 2, April 3, 2021 2020 2020 restructuring $ 1,338 $ — 2019 restructuring 208 569 2018 restructuring — 86 Total restructuring charges 1,546 655 Acquisition and related charges 2,185 1,006 Total restructuring, acquisition, and related costs $ 3,731 $ 1,661
Summary of Restructuring Charges by Reportable Segment	The following table summarizes restructuring costs associated with the 2020 restructuring program by reportable segment (in thousands): Three April 2, April 3, 2021 2020 Photonics $ 295 $ — Vision 422 — Precision Motion 621 — Unallocated Corporate and Shared Services — — Total $ 1,338 $ —
Summary of Accrual Activities by Components Related to Company's Restructuring Plans	The following table summarizes the accrual activities, by component, related to the Company’s restructuring plans recorded in the accompanying consolidated balance sheets (in thousands): Total Severance Facility Other Balance at December 31, 2020 $ 1,800 $ 1,681 $ 116 $ 3 Restructuring charges 1,546 1,061 382 103 Cash payments (638 ) (490 ) (45 ) (103 ) Non-cash charges and other adjustments (201 ) 12 (213 ) — Balance at April 2, 2021 $ 2,507 $ 2,264 $ 240 $ 3

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Apr. 02, 2021
Segment Reporting [Abstract]
Revenue, Gross Profit, Gross Profit Margin, Operating Income (Loss), and Depreciation and Amortization Expenses by Reportable Segment	Revenue, gross profit, gross profit margin, operating income (loss), and depreciation and amortization expenses by reportable segment were as follows (in thousands, except percentage data): Three April 2, April 3, Revenue 2021 2020 Photonics $ 58,493 $ 55,140 Vision 67,636 69,008 Precision Motion 36,455 31,320 Total $ 162,584 $ 155,468 Three April 2, April 3, Gross Profit 2021 2020 Photonics $ 28,109 $ 24,661 Vision 26,926 26,575 Precision Motion 16,077 13,908 Unallocated Corporate and Shared Services (2,372 ) (699 ) Total $ 68,740 $ 64,445 Three April 2, April 3, Gross Profit Margin 2021 2020 Photonics 48.1 % 44.7 % Vision 39.8 % 38.5 % Precision Motion 44.1 % 44.4 % Total 42.3 % 41.5 % Three April 2, April 3, Operating Income (Loss) 2021 2020 Photonics $ 12,395 $ 8,915 Vision 3,366 5,634 Precision Motion 7,446 6,538 Unallocated Corporate and Shared Services (12,108 ) (7,837 ) Total $ 11,099 $ 13,250 Three April 2, April 3, Depreciation and Amortization Expenses 2021 2020 Photonics $ 2,898 $ 2,649 Vision 5,275 5,277 Precision Motion 1,607 1,353 Unallocated Corporate and Shared Services 69 51 Total $ 9,849 $ 9,330
Schedule of Geographic Revenue	The Company aggregates geographic revenue based on the customer location where products are shipped to. Revenue from these customers was as follows (in thousands): Three April 2, April 3, 2021 2020 United States $ 59,230 $ 59,205 Germany 22,363 23,233 Rest of Europe 35,575 33,085 China 22,551 15,404 Rest of Asia-Pacific 20,747 21,700 Other 2,118 2,841 Total $ 162,584 $ 155,468
Revenue By End Market	The Company primarily operates in two end markets: the medical market and advanced industrial market. Revenue by end market was approximately as follows: Three April 2, April 3, 2021 2020 Medical 55 % 58 % Advanced Industrial 45 % 42 % Total 100 % 100 %

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Apr. 02, 2021	Dec. 31, 2020
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
Adoption of Topic 606
Revenue [Line Items]
Contract liabilities	$ 5.6	$ 6.5
Revenue recognized		$ 2.8
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 24 months for the Photonics and Precision Motion segments and 12 months to 36 months for the Vision segment. 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 | Photonics and Precision Motion | Warranties
Revenue [Line Items]
Standard warranty period on products	12 months
Minimum | Vision | Warranties
Revenue [Line Items]
Standard warranty period on products	12 months
Maximum | Photonics and Precision Motion | Warranties
Revenue [Line Items]
Standard warranty period on products	24 months
Maximum | Vision | Warranties
Revenue [Line Items]
Standard warranty period on products	36 months
Maximum | Maintenance and Repair of Products
Revenue [Line Items]
Percentage of revenue for professional services	3.00%
Duration of professional services performed under customer contract	1 month

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) $ in Thousands	3 Months Ended
	Apr. 02, 2021USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	$ 476,809
Other comprehensive income (loss)	(609)
Amounts reclassified from accumulated other comprehensive loss	241
Ending Balance	476,123
Total Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(12,241)
Ending Balance	(12,609)
Cumulative Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(2,296)
Other comprehensive income (loss)	(489)
Ending Balance	(2,785)
Pension Liability Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance	(9,945)
Other comprehensive income (loss)	(120)
Amounts reclassified from accumulated other comprehensive loss	241
Ending Balance	$ (9,824)

Computation of Basic and Dilute

Computation of Basic and Diluted Earnings per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Numerators:
Consolidated net income	$ 11,310	$ 11,947
Denominators:
Weighted average common shares outstanding—basic	35,279	35,152
Dilutive potential common shares	510	409
Weighted average common shares outstanding— diluted	35,789	35,561
Antidilutive potential common shares excluded from above	27	52
Earnings per Common Share:
Basic	$ 0.32	$ 0.34
Diluted	$ 0.32	$ 0.34

Earnings per Common Share - Add

Earnings per Common Share - Additional Information (Details) - shares shares in Thousands	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
EPS Performance-based Restricted Stock Units
Computation Of Earnings Per Share [Line Items]
Contingently issuable shares excluded from calculation of weighted average common shares outstanding	46	71
Operating Cash Flow Performance Based Restricted Stock Units
Computation Of Earnings Per Share [Line Items]
Contingently issuable shares excluded from calculation of weighted average common shares outstanding	37
Laser Quantum | Restricted Stock
Computation Of Earnings Per Share [Line Items]
Contingently issuable shares excluded from calculation of weighted average common shares outstanding	213	213

Fair Value Measurements - Busin

Fair Value Measurements - Business Combination Contingent Consideration - Additional Information (Details) $ in Thousands

3 Months Ended

9 Months Ended

Jul. 02, 2021USD ($)

Jul. 02, 2021EUR (€)

Apr. 02, 2021USD ($)

Apr. 02, 2021EUR (€)

Jul. 03, 2020USD ($)

Jul. 03, 2020EUR (€)

Oct. 02, 2020Installment

Apr. 02, 2021EUR (€)

Jul. 31, 2019USD ($)

Jul. 31, 2019EUR (€)

Apr. 16, 2019USD ($)

Apr. 16, 2019EUR (€)

Business Acquisition [Line Items]

Payment for contingent consideration | $

$ 435

ARGES GmbH

Business Acquisition [Line Items]

Undiscounted low range of contingent consideration

€ 0

Undiscounted high range of contingent consideration

$ 11,100

10,000,000

Fair value of contingent consideration

$ 7,900

€ 7,100,000

Payment for contingent consideration

400

€ 400,000

Ingenia-CAT, S.L.

Business Acquisition [Line Items]

Undiscounted low range of contingent consideration

€ 0

Undiscounted high range of contingent consideration

$ 9,000

8,000,000

Fair value of contingent consideration

$ 2,900

€ 2,400,000

$ 6,600

€ 5,800,000

Payment for contingent consideration

$ 1,100

€ 1,000,000

Number of contingent consideration annual installments | Installment

3

Ingenia-CAT, S.L. | Scenario Forecast

Business Acquisition [Line Items]

Expected payment for contingent consideration

$ 1,500

€ 1,300,000

Fair Value Measurements - Asset

Fair Value Measurements - Asset Acquisition Contingent Consideration - Additional Information (Details) $ in Millions	1 Months Ended		3 Months Ended
	Feb. 28, 2021USD ($)	Feb. 28, 2021EUR (€)	Apr. 02, 2021Installment	Apr. 03, 2020USD ($)	Apr. 03, 2020EUR (€)	Dec. 14, 2016USD ($)	Dec. 14, 2016EUR (€)
Asset Acquisition Contingent Consideration [Line Items]
Payment for contingent consideration	$ 2.2	€ 1,800,000		$ 2.6	€ 2,400,000
Video Signal Processing and Management Technologies
Asset Acquisition Contingent Consideration [Line Items]
Date of Acquisition Agreement			Dec. 14, 2016
Number of contingent consideration annual installments | Installment			4
Undiscounted range of outcomes, minimum | €							€ 0
Undiscounted range of outcomes, maximum						$ 6.6	€ 5,500,000

Fair Values of Assets and Liabi

Fair Values of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Liabilities
Contingent considerations - Long-term	$ 4,999	$ 7,276
Fair Value Measurements Recurring
Assets
Cash equivalents	18,079	11,047
Assets, fair value	18,087	11,074
Liabilities
Liabilities, fair value	8,776	11,556
Fair Value Measurements Recurring | Prepaid Expenses and Other Current Assets
Assets
Foreign currency forward contracts	8	27
Fair Value Measurements Recurring | Accrued Expenses and Other Current Liabilities
Liabilities
Contingent considerations - Current	3,711	4,280
Foreign currency forward contracts	66
Fair Value Measurements Recurring | Other Liabilities
Liabilities
Contingent considerations - Long-term	4,999	7,276
Fair Value Measurements Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Cash equivalents	18,079	11,047
Assets, fair value	18,079	11,047
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2)
Assets
Assets, fair value	8	27
Liabilities
Liabilities, fair value	66
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2) | Prepaid Expenses and Other Current Assets
Assets
Foreign currency forward contracts	8	27
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2) | Accrued Expenses and Other Current Liabilities
Liabilities
Foreign currency forward contracts	66
Fair Value Measurements Recurring | Significant Other Unobservable Inputs (Level 3)
Liabilities
Liabilities, fair value	8,710	11,556
Fair Value Measurements Recurring | Significant Other Unobservable Inputs (Level 3) | Accrued Expenses and Other Current Liabilities
Liabilities
Contingent considerations - Current	3,711	4,280
Fair Value Measurements Recurring | Significant Other Unobservable Inputs (Level 3) | Other Liabilities
Liabilities
Contingent considerations - Long-term	$ 4,999	$ 7,276

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Fair Value of Level 3 Contingent Considerations (Details) - Significant Other Unobservable Inputs (Level 3) $ in Thousands	3 Months Ended
	Apr. 02, 2021USD ($)
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 11,556
Payments	(2,635)
Fair value adjustments	126
Effect of foreign exchange rates	(337)
Ending balance	$ 8,710

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Measurement Inputs and Valuation Techniques (Details) $ in Thousands, € in Millions	Apr. 02, 2021USD ($)	Apr. 02, 2021EUR (€)	Jul. 31, 2019USD ($)	Jul. 31, 2019EUR (€)	Apr. 16, 2019USD ($)	Apr. 16, 2019EUR (€)
ARGES GmbH
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration			$ 7,900	€ 7.1
Ingenia-CAT, S.L.
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration	$ 2,900	€ 2.4			$ 6,600	€ 5.8
Significant Other Unobservable Inputs (Level 3) | ARGES GmbH
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration	$ 4,439
Valuation Technique	novt:ValuationTechniqueMonteCarloMethodMember	novt:ValuationTechniqueMonteCarloMethodMember
Significant Other Unobservable Inputs (Level 3) | ARGES GmbH | Revenue volatility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	21	21
Significant Other Unobservable Inputs (Level 3) | ARGES GmbH | Cost of debt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	2.6	2.6
Significant Other Unobservable Inputs (Level 3) | ARGES GmbH | Discount rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	3.7	3.7
Significant Other Unobservable Inputs (Level 3) | Ingenia-CAT, S.L.
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration	$ 2,872
Valuation Technique	novt:ValuationTechniqueMonteCarloMethodMember	novt:ValuationTechniqueMonteCarloMethodMember
Significant Other Unobservable Inputs (Level 3) | Ingenia-CAT, S.L. | Revenue volatility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	38.5	38.5
Significant Other Unobservable Inputs (Level 3) | Ingenia-CAT, S.L. | Cost of debt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	3.1	3.1
Significant Other Unobservable Inputs (Level 3) | Ingenia-CAT, S.L. | Discount rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Business acquisition, Percentage Applied	9.6	9.6
Significant Other Unobservable Inputs (Level 3) | Other
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration	$ 1,399
Valuation Technique	us-gaap:ValuationTechniqueDiscountedCashFlowMember	us-gaap:ValuationTechniqueDiscountedCashFlowMember
Significant Other Unobservable Inputs (Level 3) | Other | Discount rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Asset acquisition, Percentage Applied	22.8	22.8

Foreign Currency Contracts - Ad

Foreign Currency Contracts - Additional Information (Details) - Foreign Currency Forward Contracts - USD ($)	3 Months Ended		12 Months Ended
	Apr. 02, 2021	Apr. 03, 2020	Dec. 31, 2020
Derivative [Line Items]
Notional amount of foreign currency forward contracts	$ 23,600,000		$ 28,500,000
Foreign Exchange Transaction Gains (Losses)
Derivative [Line Items]
Net gain (loss) on foreign currency forward contracts	700,000	$ (300,000)
Maximum
Derivative [Line Items]
Net gain (loss) on foreign currency forward contracts	$ (100,000)		$ 100,000

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details)	3 Months Ended
	Jul. 03, 2020USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Impairment of goodwill and intangible assets	$ 0

Summary of Changes in Goodwill

Summary of Changes in Goodwill (Details) $ in Thousands	3 Months Ended
	Apr. 02, 2021USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Balance at beginning of the period	$ 285,980
Effect of foreign exchange rate changes	(4,366)
Balance at end of the period	$ 281,614

Goodwill By Reportable Segment

Goodwill By Reportable Segment (Details) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill	$ 432,843	$ 437,209
Accumulated impairment of goodwill	(151,229)	(151,229)
Total	281,614	285,980
Photonics
Goodwill [Line Items]
Goodwill	216,908	218,517
Accumulated impairment of goodwill	(102,461)	(102,461)
Total	114,447	116,056
Vision
Goodwill [Line Items]
Goodwill	162,634	165,195
Accumulated impairment of goodwill	(31,722)	(31,722)
Total	130,912	133,473
Precision Motion
Goodwill [Line Items]
Goodwill	53,301	53,497
Accumulated impairment of goodwill	(17,046)	(17,046)
Total	$ 36,255	$ 36,451

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	$ 346,540	$ 350,226
Amortizable intangible assets, accumulated amortization	(220,213)	(214,732)
Amortizable intangible assets, net carrying amount	126,327	135,494
Non-amortizable intangible assets	13,027	13,027
Gross carrying amount	359,567	363,253
Net carrying amount	139,354	148,521
Patents and Developed Technologies
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	162,773	164,430
Amortizable intangible assets, accumulated amortization	(112,979)	(110,572)
Amortizable intangible assets, net carrying amount	49,794	53,858
Customer Relationships
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	165,528	167,429
Amortizable intangible assets, accumulated amortization	(95,722)	(92,892)
Amortizable intangible assets, net carrying amount	69,806	74,537
Trademarks and Trade Names
Schedule of Intangible Assets Disclosure [Line Items]
Amortizable intangible assets, gross carrying amount	18,239	18,367
Amortizable intangible assets, accumulated amortization	(11,512)	(11,268)
Amortizable intangible assets, net carrying amount	$ 6,727	$ 7,099

Amortization Expense of Intangi

Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Apr. 02, 2021	Apr. 03, 2020	Apr. 03, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense – cost of revenue		$ 2,977	$ 2,734
Amortization expense – operating expenses	$ 3,575	3,575	3,445	$ 3,445
Total amortization expense		$ 6,552	$ 6,179

Estimated Amortization Expense

Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
2021 (remainder of year)	$ 19,411
2022	23,347
2023	20,395
2024	16,153
2025	13,109
Thereafter	33,912
Amortizable intangible assets, net carrying amount	126,327	$ 135,494
Cost of Revenue
Finite Lived Intangible Assets [Line Items]
2021 (remainder of year)	8,809
2022	10,065
2023	8,848
2024	6,613
2025	5,175
Thereafter	10,284
Amortizable intangible assets, net carrying amount	49,794
Operating Expenses
Finite Lived Intangible Assets [Line Items]
2021 (remainder of year)	10,602
2022	13,282
2023	11,547
2024	9,540
2025	7,934
Thereafter	23,628
Amortizable intangible assets, net carrying amount	$ 76,533

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 52,752	$ 55,657
Work-in-process	15,406	15,487
Finished goods	20,442	20,234
Demo and consigned inventory	1,344	1,359
Total inventories	$ 89,944	$ 92,737

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020	Apr. 03, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Accrued compensation and benefits	$ 16,399	$ 12,510
Accrued warranty	4,514	4,919	$ 5,615	$ 5,756
Contract liabilities, current portion	5,292	6,173
Finance lease obligations	574	9,720
Accrued earn-out and contingent considerations	11,094	10,796
Other	10,788	9,662
Total	$ 48,661	$ 53,780

Accrued Warranty (Details)

Accrued Warranty (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Product Warranties Disclosures [Abstract]
Balance at beginning of the period	$ 4,919	$ 5,756
Provision charged to cost of revenue	324	496
Use of provision	(690)	(535)
Foreign currency exchange rate changes	(39)	(102)
Balance at end of the period	$ 4,514	$ 5,615

Other Long Term Liabilities (De

Other Long Term Liabilities (Details) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Finance lease obligations	$ 5,760	$ 5,908
Accrued pension liabilities	1,132	1,511
Accrued contingent considerations	4,999	7,276
Other	2,445	2,471
Total	$ 14,336	$ 17,166

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total current portion of long-term debt	$ 5,273	$ 5,508
Total long-term debt	186,145	194,927
Total Senior Credit Facilities	191,418	200,435
Term Loan
Debt Instrument [Line Items]
Current portion of long-term debt, Gross	5,308	5,545
Long-term debt, Gross	93,940	99,534
Term Loan And Revolving Credit Facility
Debt Instrument [Line Items]
Less: unamortized debt issuance costs	(35)	(37)
Less: unamortized debt issuance costs	(4,095)	(4,368)
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, Gross	$ 96,300	$ 99,761

Debt - Additional Information (

Debt - Additional Information (Details)	Dec. 31, 2019USD ($)	Mar. 31, 2021EUR (€)	Apr. 02, 2021USD ($)	Apr. 02, 2021EUR (€)	Apr. 03, 2020USD ($)	Mar. 27, 2020USD ($)	Dec. 31, 2019EUR (€)
Debt Instrument [Line Items]
Repayment of debt			$ 1,345,000		$ 1,250,000
Term Loan
Debt Instrument [Line Items]
Repayment of debt			$ 1,300,000	€ 1,100,000
Third Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 450,000,000
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
Senior credit facilities, maturity month and year	2024-12
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	2024-12		2024-12	2024-12
Line of credit facility accordion potential feature	$ 200,000,000

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	3 Months Ended
	Apr. 02, 2021USD ($)
Lessee Lease Description [Line Items]
Lease renewal terms and termination description	Certain leases include 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.
Purchase of building under finance lease	$ 8,743
Minimum
Lessee Lease Description [Line Items]
Lease agreement expiration year	2021
Lease renewal terms	1 year
Maximum
Lessee Lease Description [Line Items]
Lease agreement expiration year	2034
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	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Leases [Abstract]
Operating lease cost	$ 1,831	$ 2,037
Finance lease cost
Amortization of right-of-use assets	150	248
Interest on lease liabilities	87	110
Variable lease cost	235	379
Total lease cost	$ 2,303	$ 2,774

Summary of Balance Sheet Inform

Summary of Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Operating leases
Operating lease right-of-use assets	$ 31,642	$ 34,444
Current portion of operating lease liabilities	5,895	6,188
Operating lease liabilities	30,934	32,802
Total operating lease liabilities	36,829	38,990
Finance leases
Finance lease right-of-use assets gross	9,583	19,819
Finance lease right-of-use assets accumulated depreciation	(4,617)	(4,934)
Finance lease assets included in property, plant and equipment, net	$ 4,966	$ 14,885
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	$ 574	$ 9,720
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	$ 5,760	$ 5,908
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Total finance lease liabilities	$ 6,334	$ 15,628
Weighted-average remaining lease term (in years)
Operating leases	9 years 4 months 24 days	9 years 3 months 18 days
Finance leases	8 years 3 months 18 days	3 years 6 months
Weighted-average discount rate
Operating leases	5.49%	5.50%
Finance leases	5.54%	3.00%

Summary of Cash Flow Informatio

Summary of Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Cash paid for amounts included in lease liabilities:
Operating cash flows from finance leases	$ 87	$ 110
Operating cash flows from operating leases	1,348	2,258
Financing cash flows from finance leases	8,883	369
Supplemental non-cash information:
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 155	$ 1,331

Future Minimum Lease Payments U

Future Minimum Lease Payments Under Operating and Finance Leases (Details) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Operating Lease
2021 (remainder of year)	$ 5,650
2022	6,706
2023	5,370
2024	4,583
2025	4,571
Thereafter	22,037
Total minimum lease payments	48,917
Less: Interest	(12,088)
Present value of lease liabilities	36,829	$ 38,990
Finance Lease
2021 (remainder of year)	680
2022	907
2023	930
2024	954
2025	954
Thereafter	3,486
Total minimum lease payments	7,911
Less: Interest	(1,577)
Present value of lease liabilities	$ 6,334	$ 15,628

Common Shares and Share-based_3

Common Shares and Share-based Compensation - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended
	Feb. 28, 2021	Apr. 02, 2021	Apr. 02, 2021	Apr. 03, 2020	Dec. 31, 2020	Feb. 29, 2020	Oct. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense recognized		$ 6,644,000		$ 3,199,000
Selling, General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense recognized		$ 4,929,000		2,798,000
Deferred Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of outstanding shares		171,000	171,000		162,000
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fully-vested stock options outstanding		60,000	60,000
Stock options granted			0
Restricted Stock Units and Deferred Stock Units | Amended and Restated 2010 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total fair value of stock units vested			$ 39,900,000
Restricted Stock Units and Deferred Stock Units | Board of Directors | Selling, General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense recognized			$ 1,100,000	$ 900,000
Restricted Stock Units (RSUs) | Amended and Restated 2010 Incentive Plan | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			0 years
Restricted Stock Units (RSUs) | Amended and Restated 2010 Incentive Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			5 years
EPS Performance-based Restricted Stock Units | Amended and Restated 2010 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			3 years
EPS Performance-based Restricted Stock Units | Amended and Restated 2010 Incentive Plan | 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			0.00%
EPS Performance-based Restricted Stock Units | Amended and Restated 2010 Incentive Plan | 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			200.00%
TSR Performance-based Restricted Stock Units | Amended and Restated 2010 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			3 years
TSR Performance-based Restricted Stock Units | Amended and Restated 2010 Incentive Plan | 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			0.00%
TSR Performance-based Restricted Stock Units | Amended and Restated 2010 Incentive Plan | 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			200.00%
Operating Cash Flow Performance Based Restricted Stock Units | Amended and Restated 2010 Incentive Plan
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	100.00%
Requisite service period	5 years
Operating Cash Flow Performance Based Restricted Stock Units | Amended and Restated 2010 Incentive Plan | Vesting in Four Year
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	4 years
Range of percentage of shares to be issued upon settlement following vesting of target number of shares	50.00%
Operating Cash Flow Performance Based Restricted Stock Units | Amended and Restated 2010 Incentive Plan | Vesting in Five Year
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	5 years
Range of percentage of shares to be issued upon settlement following vesting of target number of shares	50.00%
Performance Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total fair value of stock units vested			$ 9,300,000
Performance Stock Units | Amended and Restated 2010 Incentive Plan
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			160.00%
2018 and 2020 Repurchase Plans
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Available for share repurchases		$ 59,500,000	$ 59,500,000
2018 Repurchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock repurchase program authorized amount							$ 25,000,000
2020 Repurchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock repurchase program authorized amount						$ 50,000,000

Share-Based Compensation Expens

Share-Based Compensation Expense Recorded in the Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 6,644	$ 3,199
Selling, general and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	4,929	2,798
Research and development and engineering
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	727	193
Cost of Revenue
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 988	$ 208

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 Thousands	3 Months Ended
	Apr. 02, 2021$ / sharesshares
Restricted Stock Units
Unvested, Beginning Balance	625
Granted	91
Vested	(283)
Forfeited	(4)
Unvested, Ending Balance	429
Expected to vest at end of period	405
Weighted Average Grant Date Fair Value
Unvested, Beginning Balance | $ / shares	$ 58.79
Granted | $ / shares	130.76
Vested | $ / shares	75.06
Forfeited | $ / shares	88.18
Unvested, Ending Balance | $ / shares	$ 63.05

Performance-Based Awards Issued

Performance-Based Awards Issued and Outstanding (Details) - Amended and Restated 2010 Incentive Plan - Performance Stock Units shares in Thousands	3 Months Ended
	Apr. 02, 2021$ / sharesshares
Performance-based Awards
Unvested, Beginning Balance	142
Granted	67
Performance adjustment	28
Vested	(75)
Unvested, Ending Balance	162
Expected to vest at end of period	136
Weighted Average Grant Date Fair Value
Unvested, Beginning Balance | $ / shares	$ 88.99
Granted | $ / shares	150.89
Performance adjustment | $ / shares	67.72
Vested | $ / shares	64.25
Unvested, Ending Balance | $ / shares	$ 122.26

Performance-Based Awards Issu_2

Performance-Based Awards Issued and Outstanding (Parenthetical) (Details) - Amended and Restated 2010 Incentive Plan - Performance Stock Units	3 Months Ended
	Apr. 02, 2021shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum number of shares to be earned under these PSU grants	286,000
Vesting percentage	160.00%

Fair Value of TSR Performance-B

Fair Value of TSR Performance-Based Restricted Stock Units Estimated Using Monte-Carol Valuation Model (Details) - TSR Performance-based Restricted Stock Units	3 Months Ended
	Apr. 02, 2021$ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant-date stock price	$ 138.23
Expected volatility	42.44%
Risk-free interest rate	0.22%
Expected annual dividend yield	0.00%
Fair value	$ 166.64

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Income Taxes [Line Items]
Effective tax rate on income from operations	(20.80%)	(0.30%)
Effective tax rate upon vesting of certain share based compensation awards	35.90%	19.80%
Canada Revenue Agency | CANADA
Income Taxes [Line Items]
Statutory tax rate	29.00%	29.00%

Schedule of Restructuring, Acqu

Schedule of Restructuring, Acquisition and Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Restructuring Cost And Reserve [Line Items]
Total restructuring charges	$ 1,546	$ 655
Acquisition and related charges	2,185	1,006
Total restructuring, acquisition, and related costs	3,731	1,661
2020 Restructuring
Restructuring Cost And Reserve [Line Items]
Total restructuring charges	1,338
2019 Restructuring
Restructuring Cost And Reserve [Line Items]
Total restructuring charges	$ 208	569
2018 Restructuring
Restructuring Cost And Reserve [Line Items]
Total restructuring charges		$ 86

Restructuring, Acquisition, a_3

Restructuring, Acquisition, and Related Costs - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Restructuring, Acquisition, and Related Costs [Line Items]
Total restructuring charges	$ 1,546	$ 655
Acquisition and related charges	2,185	1,006
Legal costs	900
Finders' Fees, Legal, Valuation And Other Professional Or Consulting Fees
Restructuring, Acquisition, and Related Costs [Line Items]
Acquisition and related charges	200	100
Earn-out Agreement
Restructuring, Acquisition, and Related Costs [Line Items]
Acquisition and related charges	$ 1,000	900
2020 Restructuring
Restructuring, Acquisition, and 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 is 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 will be focused on cost reduction actions that improve gross margins for the overall company. During the three months ended April 2, 2021, the Company recorded $1.3 million in severance and other costs in connection with the 2020 restructuring program. As of April 2, 2021, the Company had incurred cumulative costs related to this restructuring plan totaling $4.1 million. The Company anticipates substantially completing the 2020 restructuring program in the fourth quarter of 2021 and expects to incur additional restructuring charges of $6.0 million to $7.0 million related to the 2020 restructuring program in the next twelve months.
Total restructuring charges	$ 1,338
Restructuring cumulative costs incurred	4,100
Restructuring cumulative costs incurred	4,100
2020 Restructuring | Minimum
Restructuring, Acquisition, and Related Costs [Line Items]
Restructuring costs	6,000
2020 Restructuring | Maximum
Restructuring, Acquisition, and Related Costs [Line Items]
Restructuring costs	7,000
2020 Restructuring | Severance and Related Costs
Restructuring, Acquisition, and Related Costs [Line Items]
Total restructuring charges	$ 1,300
2019 Restructuring
Restructuring, Acquisition, and Related Costs [Line Items]
Restructuring and related cost description	During the fourth quarter of 2018, the Company implemented a restructuring plan intended to realign operations, reduce costs, achieve operational efficiencies and focus resources on growth initiatives (the “2019 restructuring plan”). During the three months ended April 2, 2021, the Company recorded $0.2 million in severance and related costs in connection with the 2019 restructuring plan. These costs were reported in the Vision reportable segment. As of April 2, 2021, the Company incurred cumulative costs related to this restructuring plan totaling $9.0 million. The 2019 restructuring program was completed in the first quarter of 2021.
Total restructuring charges	$ 208	569
Restructuring cumulative costs incurred	9,000
Restructuring cumulative costs incurred	9,000
2019 Restructuring | Severance and Related Costs
Restructuring, Acquisition, and Related Costs [Line Items]
Total restructuring charges	$ 200
2018 Restructuring
Restructuring, Acquisition, and Related Costs [Line Items]
Restructuring and related cost description	During the second quarter of 2018, the Company initiated a program to integrate manufacturing operations as a result of acquisition activities (the “2018 restructuring plan”). The Company did not incur any costs related to the 2018 restructuring plan during the three months ended April 2, 2021. As of April 2, 2021, the Company incurred cumulative costs related to this restructuring plan totaling $3.6 million. The 2018 restructuring program was completed in 2020.
Total restructuring charges		$ 86
Restructuring cumulative costs incurred	$ 3,600
Restructuring cumulative costs incurred	$ 3,600

Summary of Restructuring Charge

Summary of Restructuring Charges by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Restructuring Cost And Reserve [Line Items]
Restructuring costs	$ 1,546	$ 655
2020 Restructuring
Restructuring Cost And Reserve [Line Items]
Restructuring costs	1,338
2020 Restructuring | Photonics
Restructuring Cost And Reserve [Line Items]
Restructuring costs	295
2020 Restructuring | Vision
Restructuring Cost And Reserve [Line Items]
Restructuring costs	422
2020 Restructuring | Precision Motion
Restructuring Cost And Reserve [Line Items]
Restructuring costs	$ 621

Summary of Accrual Activities b

Summary of Accrual Activities by Components Related to Company's Restructuring Charges (Details) $ in Thousands	3 Months Ended
	Apr. 02, 2021USD ($)
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance	$ 1,800
Restructuring charges	1,546
Cash payments	(638)
Non-cash charges and other adjustments	(201)
Accrued expense ending balance	2,507
Severance
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance	1,681
Restructuring charges	1,061
Cash payments	(490)
Non-cash charges and other adjustments	12
Accrued expense ending balance	2,264
Facility
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance	116
Restructuring charges	382
Cash payments	(45)
Non-cash charges and other adjustments	(213)
Accrued expense ending balance	240
Other Restructuring Charges
Restructuring Cost And Reserve [Line Items]
Accrued expense beginning balance	3
Restructuring charges	103
Cash payments	(103)
Accrued expense ending balance	$ 3

Segment Information - Additiona

Segment Information - Additional Information (Details)	3 Months Ended
	Apr. 02, 2021SegmentEndMarket
Segment Reporting [Abstract]
Number of reportable segments | Segment	3
Number of primary end market segments | EndMarket	2

Revenue, Gross Profit, Gross Pr

Revenue, Gross Profit, Gross Profit Margin and Operating Income (Loss) by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Segment Reporting Information [Line Items]
Revenue	$ 162,584	$ 155,468
Gross Profit	$ 68,740	$ 64,445
Gross profit margin percentage	42.30%	41.50%
Operating Income (Loss)	$ 11,099	$ 13,250
Operating Segments | Photonics
Segment Reporting Information [Line Items]
Revenue	58,493	55,140
Gross Profit	$ 28,109	$ 24,661
Gross profit margin percentage	48.10%	44.70%
Operating Income (Loss)	$ 12,395	$ 8,915
Operating Segments | Vision
Segment Reporting Information [Line Items]
Revenue	67,636	69,008
Gross Profit	$ 26,926	$ 26,575
Gross profit margin percentage	39.80%	38.50%
Operating Income (Loss)	$ 3,366	$ 5,634
Operating Segments | Precision Motion
Segment Reporting Information [Line Items]
Revenue	36,455	31,320
Gross Profit	$ 16,077	$ 13,908
Gross profit margin percentage	44.10%	44.40%
Operating Income (Loss)	$ 7,446	$ 6,538
Unallocated Corporate and Shared Services
Segment Reporting Information [Line Items]
Gross Profit	(2,372)	(699)
Operating Income (Loss)	$ (12,108)	$ (7,837)

Depreciation and Amortization E

Depreciation and Amortization Expenses by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Depreciation and Amortization Expenses
Depreciation and amortization expenses	$ 9,849	$ 9,330
Unallocated Corporate and Shared Services
Depreciation and Amortization Expenses
Depreciation and amortization expenses	69	51
Photonics | Operating Segments
Depreciation and Amortization Expenses
Depreciation and amortization expenses	2,898	2,649
Vision | Operating Segments
Depreciation and Amortization Expenses
Depreciation and amortization expenses	5,275	5,277
Precision Motion | Operating Segments
Depreciation and Amortization Expenses
Depreciation and amortization expenses	$ 1,607	$ 1,353

Schedule of Geographic Revenue

Schedule of Geographic Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Segment Reporting Information [Line Items]
Revenue	$ 162,584	$ 155,468
United States
Segment Reporting Information [Line Items]
Revenue	59,230	59,205
Germany
Segment Reporting Information [Line Items]
Revenue	22,363	23,233
Rest of Europe
Segment Reporting Information [Line Items]
Revenue	35,575	33,085
China
Segment Reporting Information [Line Items]
Revenue	22,551	15,404
Rest of Asia-Pacific
Segment Reporting Information [Line Items]
Revenue	20,747	21,700
Other Countries
Segment Reporting Information [Line Items]
Revenue	$ 2,118	$ 2,841

Schedule of Revenue by End Mark

Schedule of Revenue by End Market (Details)	3 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Segment Reporting Information [Line Items]
Total revenue by end market	100.00%	100.00%
Advanced Industrial
Segment Reporting Information [Line Items]
Total revenue by end market	45.00%	42.00%
Medical
Segment Reporting Information [Line Items]
Total revenue by end market	55.00%	58.00%