| Massachusetts | 001-05075 | 04-2052042 | ||||||
(State or Other Jurisdiction of Incorporation or Organization) | (Commission File Number) | (IRS Employer Identification No.) | ||||||
| 77 4th Avenue, | Waltham, | Massachusetts | 02451 | |||||||||||
| (Address of Principal Executive Offices) | (Zip Code) | |||||||||||||
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | |||||||||||||||||||||
| Common stock, $1 par value per share | RVTY | The New York Stock Exchange | |||||||||||||||||||||
| 1.875% Notes due 2026 | RVTY 26 | The New York Stock Exchange | |||||||||||||||||||||
| Exhibit No. | Description | |||||||||||||
| 99.1* | ||||||||||||||
| 99.2 | ||||||||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL) | |||||||||||||
REVVITY, INC. | |||||
Date: May 5, 2026 | By: /s/ Maxwell Krakowiak Maxwell Krakowiak Senior Vice President and Chief Financial Officer | ||||
| Three Months Ended April 5, 2026 | Three Months Ended March 30, 2025 | |||||||||||||||||||||||||
| (In thousands, except per share data) | As Reported | Pro Forma | As Reported | Pro Forma | ||||||||||||||||||||||
| Revenue | $ | 711,118 | $ | 686,912 | $ | 664,762 | $ | 628,698 | ||||||||||||||||||
| Cost of revenue | 323,463 | 309,166 | 289,216 | 271,377 | ||||||||||||||||||||||
| Selling, general and administrative expenses | 253,882 | 239,776 | 249,719 | 283,723 | ||||||||||||||||||||||
| Research and development expenses | 57,887 | 57,887 | 53,597 | 53,597 | ||||||||||||||||||||||
| Operating income from continuing operations | 75,886 | 80,083 | 72,230 | 20,001 | ||||||||||||||||||||||
| Interest income | (6,304) | (6,294) | (10,081) | (10,068) | ||||||||||||||||||||||
| Interest expense | 24,718 | 24,718 | 22,964 | 22,964 | ||||||||||||||||||||||
| Change in fair value of investments | 4,204 | 4,204 | (3,073) | (3,073) | ||||||||||||||||||||||
| Other expense, net | 3,276 | 2,565 | 10,038 | 9,427 | ||||||||||||||||||||||
| Income from continuing operations, before income taxes | 49,992 | 54,890 | 52,382 | 751 | ||||||||||||||||||||||
| Provision for income taxes | 9,099 | 9,600 | 10,713 | 16,909 | ||||||||||||||||||||||
| Income (loss) from continuing operations | 40,893 | 45,290 | 41,669 | (16,158) | ||||||||||||||||||||||
| (Loss) income from discontinued operations | (175) | (175) | 568 | 568 | ||||||||||||||||||||||
| Net income (loss) | $ | 40,718 | $ | 45,115 | $ | 42,237 | $ | (15,590) | ||||||||||||||||||
| Diluted earnings per share: | ||||||||||||||||||||||||||
| Income (loss) from continuing operations | $ | 0.37 | $ | 0.40 | $ | 0.35 | $ | (0.13) | ||||||||||||||||||
| (Loss) income from discontinued operations | (0.00) | (0.00) | 0.00 | 0.00 | ||||||||||||||||||||||
| Net income (loss) | $ | 0.36 | $ | 0.40 | $ | 0.35 | $ | (0.13) | ||||||||||||||||||
| Weighted average diluted shares of common stock outstanding | 111,876 | 111,876 | 120,233 | 120,233 | ||||||||||||||||||||||
| ABOVE PREPARED IN ACCORDANCE WITH GAAP | ||||||||||||||||||||||||||
Additional supplemental information(1): | ||||||||||||||||||||||||||
| (per share, continuing operations) | ||||||||||||||||||||||||||
| Three Months Ended April 5, 2026 | Three Months Ended March 30, 2025 | |||||||||||||||||||||||||
| As Reported | Pro Forma | As Reported | Pro Forma | |||||||||||||||||||||||
| GAAP EPS from continuing operations | $ | 0.37 | $ | 0.40 | $ | 0.35 | $ | (0.13) | ||||||||||||||||||
| Amortization of intangible assets | 0.76 | 0.70 | 0.69 | 0.64 | ||||||||||||||||||||||
| Acquisition and divestiture-related costs | 0.00 | 0.00 | 0.02 | 0.02 | ||||||||||||||||||||||
| Transformation costs | 0.01 | 0.01 | — | — | ||||||||||||||||||||||
| Change in fair value of investments | 0.04 | 0.04 | (0.03) | (0.03) | ||||||||||||||||||||||
| Loss from probable dispositions | — | — | — | 0.39 | ||||||||||||||||||||||
| Significant litigation matters and settlements | — | — | 0.09 | 0.09 | ||||||||||||||||||||||
| Significant environmental matters | — | — | (0.01) | (0.01) | ||||||||||||||||||||||
| Disposition of businesses and assets, net | (0.05) | (0.05) | — | — | ||||||||||||||||||||||
| Mark to market on postretirement benefits | (0.02) | (0.02) | 0.04 | 0.04 | ||||||||||||||||||||||
| Restructuring and other | 0.10 | 0.09 | 0.03 | 0.03 | ||||||||||||||||||||||
| Tax on above items | (0.16) | (0.14) | (0.16) | (0.08) | ||||||||||||||||||||||
| Adjusted EPS from continuing operations | $ | 1.06 | $ | 1.04 | $ | 1.01 | $ | 0.95 | ||||||||||||||||||
| (1) amounts may not sum due to rounding | ||||||||||||||||||||||||||
| Three Months Ended April 5, 2026 | Three Months Ended March 30, 2025 | |||||||||||||||||||||||||
| (In thousands, except percentages) | As Reported | Pro Forma | As Reported | Pro Forma | ||||||||||||||||||||||
| Revenue and adjusted operating income | ||||||||||||||||||||||||||
| Revenue | $ | 711,118 | $ | 686,912 | $ | 664,762 | $ | 628,698 | ||||||||||||||||||
| Operating income from continuing operations | $ | 75,886 | $ | 80,083 | $ | 72,230 | $ | 20,001 | ||||||||||||||||||
| OP% | 10.7 | % | 11.7 | % | 10.9 | % | 3.2 | % | ||||||||||||||||||
| Amortization of intangible assets | 85,081 | 78,709 | 82,700 | 77,343 | ||||||||||||||||||||||
| Purchase accounting adjustments | 141 | 141 | (177) | (177) | ||||||||||||||||||||||
| Acquisition and divestiture-related costs | 282 | 282 | 2,541 | 2,541 | ||||||||||||||||||||||
| Disposition of businesses and assets, net | (5,074) | (5,074) | — | — | ||||||||||||||||||||||
| Transformation costs | 794 | 794 | — | — | ||||||||||||||||||||||
| Loss from probable dispositions | — | — | — | 46,628 | ||||||||||||||||||||||
| Significant litigation matters and settlements | 69 | 69 | 10,586 | 10,586 | ||||||||||||||||||||||
| Significant environmental matters | — | — | (1,208) | (1,208) | ||||||||||||||||||||||
| Restructuring and other | 10,675 | 9,998 | 3,239 | 3,239 | ||||||||||||||||||||||
| Adjusted operating income | $ | 167,854 | $ | 165,002 | $ | 169,911 | $ | 158,953 | ||||||||||||||||||
| OP% | 23.6 | % | 24.0 | % | 25.6 | % | 25.3 | % | ||||||||||||||||||
| Three Months Ended | ||||||||||||||||||||||||||
| April 5, 2026 | March 30, 2025 | |||||||||||||||||||||||||
| (In thousands, except percentages) | ||||||||||||||||||||||||||
| Segment revenue: | ||||||||||||||||||||||||||
| Life Sciences | $ | 361,845 | $ | 340,395 | ||||||||||||||||||||||
| Diagnostics | 349,273 | 324,367 | ||||||||||||||||||||||||
| Segment revenue | 711,118 | 664,762 | ||||||||||||||||||||||||
| Segment operating income: | ||||||||||||||||||||||||||
| Life Sciences | $ | 103,979 | $ | 105,711 | ||||||||||||||||||||||
| 28.7 | % | 31.1 | % | |||||||||||||||||||||||
| Diagnostics | 76,122 | 74,015 | ||||||||||||||||||||||||
| 21.8 | % | 22.8 | % | |||||||||||||||||||||||
| Segment operating income | 180,101 | 179,726 | ||||||||||||||||||||||||
| Corporate | (12,247) | (9,815) | ||||||||||||||||||||||||
| Adjusted operating income | 167,854 | 169,911 | ||||||||||||||||||||||||
| Amortization of intangible assets | (85,081) | (82,700) | ||||||||||||||||||||||||
| Purchase accounting adjustments | (141) | 177 | ||||||||||||||||||||||||
| Acquisition and divestiture-related costs | (282) | (2,541) | ||||||||||||||||||||||||
| Disposition of businesses and assets, net | 5,074 | — | ||||||||||||||||||||||||
| Transformation costs | (794) | — | ||||||||||||||||||||||||
| Significant litigation matters and settlements | (69) | (10,586) | ||||||||||||||||||||||||
| Significant environmental matters | — | 1,208 | ||||||||||||||||||||||||
| Restructuring and other | (10,675) | (3,239) | ||||||||||||||||||||||||
| Reported operating income from continuing operations | $ | 75,886 | $ | 72,230 | ||||||||||||||||||||||
| REVENUE AND REPORTED OPERATING INCOME (LOSS) PREPARED IN ACCORDANCE WITH GAAP | ||||||||||||||||||||||||||
| (In thousands) | April 5, 2026 | December 28, 2025 | |||||||||
| Current assets: | |||||||||||
| Cash and cash equivalents | $ | 860,320 | $ | 919,860 | |||||||
| Accounts receivable, net | 691,380 | 744,671 | |||||||||
| Inventories, net | 387,505 | 379,497 | |||||||||
| Other current assets | 189,112 | 195,719 | |||||||||
| Total current assets | 2,128,317 | 2,239,747 | |||||||||
| Property, plant and equipment, net | 465,636 | 479,249 | |||||||||
| Operating lease right-of-use assets, net | 163,254 | 165,439 | |||||||||
| Intangible assets, net | 2,306,534 | 2,347,003 | |||||||||
| Goodwill | 6,610,750 | 6,613,493 | |||||||||
| Other assets, net | 322,099 | 323,480 | |||||||||
| Total assets | $ | 11,996,590 | $ | 12,168,411 | |||||||
| Current liabilities: | |||||||||||
| Current portion of long-term debt | $ | 575,831 | $ | 588,828 | |||||||
| Accounts payable | 169,679 | 185,464 | |||||||||
| Accrued expenses and other current liabilities | 493,134 | 556,954 | |||||||||
| Total current liabilities | 1,238,644 | 1,331,246 | |||||||||
| Long-term debt | 2,632,072 | 2,631,236 | |||||||||
| Long-term liabilities | 800,859 | 807,461 | |||||||||
| Operating lease liabilities | 142,276 | 148,108 | |||||||||
| Total liabilities | 4,813,851 | 4,918,051 | |||||||||
| Total stockholders' equity | 7,182,739 | 7,250,360 | |||||||||
| Total liabilities and stockholders' equity | $ | 11,996,590 | $ | 12,168,411 | |||||||
| PREPARED IN ACCORDANCE WITH GAAP | |||||||||||
| Three Months Ended | |||||||||||
| (In thousands) | April 5, 2026 | March 30, 2025 | |||||||||
| Operating activities: | |||||||||||
| Net income | $ | 40,718 | $ | 42,237 | |||||||
| Loss (income) from discontinued operations, net of income taxes | 175 | (568) | |||||||||
| Income from continuing operations | 40,893 | 41,669 | |||||||||
| Adjustments to reconcile income from continuing operations to net cash provided by continuing operations: | |||||||||||
| Stock-based compensation | 8,715 | 7,731 | |||||||||
| Restructuring and other | 10,675 | 3,239 | |||||||||
| Depreciation and amortization | 105,056 | 97,422 | |||||||||
| Change in fair value of contingent consideration | (99) | (625) | |||||||||
| Amortization of deferred debt financing costs and accretion of discounts | 1,139 | 1,102 | |||||||||
| Change in fair value of investments | 4,204 | (3,073) | |||||||||
| Unrealized foreign exchange loss (gain) | 100 | (66) | |||||||||
| Gains on disposition of businesses and assets, net | (5,074) | — | |||||||||
| Changes in assets and liabilities which provided (used) cash: | |||||||||||
| Accounts receivable, net | 61,547 | 18,140 | |||||||||
| Inventories, net | (12,838) | (5,486) | |||||||||
| Accounts payable | (13,744) | 8,854 | |||||||||
| Accrued expenses and other | (74,687) | (34,810) | |||||||||
| Net cash provided by operating activities of continuing operations | 125,887 | 134,097 | |||||||||
| Net cash used in operating activities of discontinued operations | (10,657) | (5,942) | |||||||||
| Net cash provided by operating activities | 115,230 | 128,155 | |||||||||
| Investing activities: | |||||||||||
| Capital expenditures | (19,775) | (15,982) | |||||||||
| Purchases of investments and notes receivables | (1,055) | — | |||||||||
| Proceeds from investments and notes receivables | 677 | — | |||||||||
| Proceeds from dispositions of property, plant and equipment | 9,003 | — | |||||||||
| Proceeds from disposition of businesses and assets | 158 | 229 | |||||||||
| Cash paid for acquisitions, net of cash acquired | (67,280) | — | |||||||||
| Net cash used in investing activities of continuing operations | (78,272) | (15,753) | |||||||||
| Net cash provided by investing activities of discontinued operations | — | 9,375 | |||||||||
| Net cash used in investing activities | (78,272) | (6,378) | |||||||||
| Financing Activities: | |||||||||||
| Payments of debt financing costs | — | (2,402) | |||||||||
| Payments on other credit facilities | — | (50) | |||||||||
| Payments for acquisition-related contingent consideration | — | (1,817) | |||||||||
| Proceeds from issuance of common stock under stock plans | 5,441 | 2,632 | |||||||||
| Purchases of common stock | (86,496) | (153,594) | |||||||||
| Dividends paid | (7,840) | (8,433) | |||||||||
| Net cash used in financing activities | (88,895) | (163,664) | |||||||||
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (7,627) | 16,122 | |||||||||
| Continuing Operations | |||||||||||
| Three Months Ended | |||||||||||
| April 5, 2026 | |||||||||||
| Organic revenue growth: | |||||||||||
| Revenue growth from continuing operations | 7% | ||||||||||
| Less: effect of foreign exchange rates | 3% | ||||||||||
| Less: effect of acquisitions including purchase accounting adjustments and impact of divested businesses | 1% | ||||||||||
| Organic revenue growth from continuing operations | 3% | ||||||||||
| Less: effect of probable dispositions | -2% | ||||||||||
| Pro forma organic revenue growth from continuing operations | 6% | ||||||||||
| Life Sciences | |||||||||||
| Three Months Ended | |||||||||||
| April 5, 2026 | |||||||||||
| Organic revenue growth: | |||||||||||
| Revenue growth from continuing operations | 6% | ||||||||||
| Less: effect of foreign exchange rates | 2% | ||||||||||
| Less: effect of acquisitions including purchase accounting adjustments and impact of divested businesses | 2% | ||||||||||
| Organic revenue growth from continuing operations | 3% | ||||||||||
| Less: effect of probable dispositions | 0% | ||||||||||
| Pro forma organic revenue growth from continuing operations | 3% | ||||||||||
| Diagnostics | |||||||||||
| Three Months Ended | |||||||||||
| April 5, 2026 | |||||||||||
| Organic revenue growth: | |||||||||||
| Revenue growth from continuing operations | 8% | ||||||||||
| Less: effect of foreign exchange rates | 4% | ||||||||||
| Less: effect of acquisitions including purchase accounting adjustments and impact of divested businesses | 0% | ||||||||||
| Organic revenue growth from continuing operations | 4% | ||||||||||
| Less: effect of probable dispositions | -5% | ||||||||||
| Pro forma organic revenue growth from continuing operations | 9% | ||||||||||
| (1) amounts may not sum due to rounding | |||||||||||
| (In thousands) | Historical | Disposition and Pro Forma Adjustments | Pro Forma | ||||||||||||||
| Current assets: | |||||||||||||||||
| Cash and cash equivalents | $ | 860,320 | $ | 5,101 | (a), (b) | $ | 865,421 | ||||||||||
| Accounts receivable, net | 691,380 | (100,133) | (a) | 591,247 | |||||||||||||
| Inventories, net | 387,505 | (6,694) | (a) | 380,811 | |||||||||||||
| Other current assets | 189,112 | 61,038 | (a), (b) | 250,150 | |||||||||||||
| Total current assets | 2,128,317 | (40,688) | 2,087,629 | ||||||||||||||
| Property, plant and equipment, net | 465,636 | (14,375) | (a) | 451,261 | |||||||||||||
| Operating lease right-of-use assets, net | 163,254 | (4,462) | (a) | 158,792 | |||||||||||||
| Intangible assets, net | 2,306,534 | (132,284) | (a) | 2,174,250 | |||||||||||||
| Goodwill | 6,610,750 | (35,000) | (a) | 6,575,750 | |||||||||||||
| Other assets, net | 322,099 | 42,123 | (a), (b) | 364,222 | |||||||||||||
| Total assets | $ | 11,996,590 | $ | (184,686) | (a) | $ | 11,811,904 | ||||||||||
| Current liabilities: | |||||||||||||||||
| Current portion of long-term debt | $ | 575,831 | $ | — | $ | 575,831 | |||||||||||
| Accounts payable | 169,679 | (5,635) | (a) | 164,044 | |||||||||||||
| Accrued expenses and other current liabilities | 493,134 | 1,314 | (a) | 494,448 | |||||||||||||
| Total current liabilities | 1,238,644 | (4,321) | 1,234,323 | ||||||||||||||
| Long-term debt | 2,632,072 | $ | — | 2,632,072 | |||||||||||||
| Long-term liabilities | 800,859 | (34,730) | (a), (b) | 766,129 | |||||||||||||
| Operating lease liabilities | 142,276 | (3,140) | (a) | 139,136 | |||||||||||||
| Total liabilities | 4,813,851 | (42,191) | 4,771,660 | ||||||||||||||
| Total stockholders' equity | 7,182,739 | (142,495) | (a), (b) | 7,040,244 | |||||||||||||
| Total liabilities and stockholders' equity | $ | 11,996,590 | $ | (184,686) | $ | 11,811,904 | |||||||||||
| PREPARED IN ACCORDANCE WITH GAAP | |||||||||||||||||
| Three Months Ended April 5, 2026 | Three Months Ended March 30, 2025 | |||||||||||||||||||||||||||||||||||||
| (In thousands, except per share data) | Historical | Disposition and Pro Forma Adjustments | Pro Forma | Historical | Disposition and Pro Forma Adjustments | Pro Forma | ||||||||||||||||||||||||||||||||
| Revenue | $ | 711,118 | $ | (24,206) | (c) | $ | 686,912 | $ | 664,762 | $ | (36,064) | (c) | $ | 628,698 | ||||||||||||||||||||||||
| Cost of revenue | 323,463 | (14,297) | (c) | 309,166 | 289,216 | (17,839) | (c) | 271,377 | ||||||||||||||||||||||||||||||
| Selling, general and administrative expenses | 253,882 | (14,106) | (c) | 239,776 | 249,719 | 34,004 | (c), (d) | 283,723 | ||||||||||||||||||||||||||||||
| Research and development expenses | 57,887 | — | 57,887 | 53,597 | — | 53,597 | ||||||||||||||||||||||||||||||||
| Operating income from continuing operations | 75,886 | 4,197 | 80,083 | 72,230 | (52,229) | 20,001 | ||||||||||||||||||||||||||||||||
| Interest income | (6,304) | 10 | (c) | (6,294) | (10,081) | 13 | (c) | (10,068) | ||||||||||||||||||||||||||||||
| Interest expense | 24,718 | — | 24,718 | 22,964 | — | 22,964 | ||||||||||||||||||||||||||||||||
| Change in fair value of investments | 4,204 | — | 4,204 | (3,073) | — | (3,073) | ||||||||||||||||||||||||||||||||
| Other expense, net | 3,276 | (711) | (c) | 2,565 | 10,038 | (611) | (c) | 9,427 | ||||||||||||||||||||||||||||||
| Income from continuing operations, before income taxes | 49,992 | 4,898 | 54,890 | 52,382 | (51,631) | 751 | ||||||||||||||||||||||||||||||||
| Provision for income taxes | 9,099 | 501 | (c) | 9,600 | 10,713 | 6,196 | (c), (d) | 16,909 | ||||||||||||||||||||||||||||||
| Income from continuing operations | 40,893 | 4,397 | 45,290 | 41,669 | (57,827) | (16,158) | ||||||||||||||||||||||||||||||||
| (Loss) income from discontinued operations | (175) | — | (175) | 568 | — | 568 | ||||||||||||||||||||||||||||||||
| Net income | $ | 40,718 | $ | 4,397 | $ | 45,115 | $ | 42,237 | $ | (57,827) | $ | (15,590) | ||||||||||||||||||||||||||
| Diluted earnings per share: | ||||||||||||||||||||||||||||||||||||||
| Income from continuing operations | $ | 0.37 | $ | 0.40 | $ | 0.35 | $ | (0.13) | ||||||||||||||||||||||||||||||
| (Loss) income from discontinued operations | (0.00) | (0.00) | 0.00 | 0.00 | ||||||||||||||||||||||||||||||||||
| Net income | $ | 0.36 | $ | 0.40 | $ | 0.35 | $ | (0.13) | ||||||||||||||||||||||||||||||
| Weighted average diluted shares of common stock outstanding | 111,876 | 111,876 | 120,233 | 120,233 | ||||||||||||||||||||||||||||||||||
| ABOVE PREPARED IN ACCORDANCE WITH GAAP | ||||||||||||||||||||||||||||||||||||||
| Twelve Months Ended December 28, 2025 | ||||||||||||||||||||
| (In thousands, except per share data) | Historical | Disposition and Pro Forma Adjustments | Pro Forma | |||||||||||||||||
| Revenue | $ | 2,856,051 | $ | (164,552) | (c) | $ | 2,691,499 | |||||||||||||
| Cost of revenue | 1,291,686 | (99,558) | (c) | 1,192,128 | ||||||||||||||||
| Selling, general and administrative expenses | 991,890 | (14,301) | (c), (d) | 977,589 | ||||||||||||||||
| Research and development expenses | 215,840 | — | 215,840 | |||||||||||||||||
| Operating income from continuing operations | 356,635 | (50,693) | 305,942 | |||||||||||||||||
| Interest income | (31,103) | 76 | (c) | (31,027) | ||||||||||||||||
| Interest expense | 92,185 | — | 92,185 | |||||||||||||||||
| Change in fair value of investments | 11,456 | — | 11,456 | |||||||||||||||||
| Other expense, net | 15,820 | (2,765) | (c) | 13,055 | ||||||||||||||||
| Income from continuing operations, before income taxes | 268,277 | (48,004) | 220,273 | |||||||||||||||||
| Provision for income taxes | 28,394 | 2,307 | (c), (d) | 30,701 | ||||||||||||||||
| Income from continuing operations | 239,883 | (50,311) | 189,572 | |||||||||||||||||
| Income from discontinued operations | 1,318 | — | 1,318 | |||||||||||||||||
| Net income | $ | 241,201 | $ | (50,311) | $ | 190,890 | ||||||||||||||
| Diluted earnings per share: | ||||||||||||||||||||
| Income from continuing operations | $ | 2.06 | $ | 1.63 | ||||||||||||||||
| Income from discontinued operations | 0.01 | 0.01 | ||||||||||||||||||
| Net income | $ | 2.07 | $ | 1.64 | ||||||||||||||||
| Weighted average diluted shares of common stock outstanding | 116,595 | 116,595 | ||||||||||||||||||
| ABOVE PREPARED IN ACCORDANCE WITH GAAP | ||||||||||||||||||||