/Revvity Announces Financial Results for the Second Quarter of 2026

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Revvity Announces Financial Results for the Second Quarter of 2026

BioSpace

2026/08/04

Revvity Announces Financial Results for the Second Quarter of 2026

Revenue of $730 million; pro forma revenue of $711 million; 4% pro forma revenue growth; 3% pro forma organic revenue growth
GAAP EPS from continuing operations of $0.48; adjusted EPS from continuing operations of $1.41; GAAP pro forma EPS from continuing operations of $0.52; pro forma adjusted EPS from continuing operations of $1.41
Enters into definitive agreement to divest China Immunodiagnostics business
Raises full year guidance

WALTHAM, Mass.--(BUSINESS WIRE)--Revvity, Inc. (NYSE: RVTY), today reported financial results for the second quarter ended July 5, 2026.

The Company reported GAAP earnings per share from continuing operations of $0.48, as compared to $0.47 in the same period a year ago. Revenue for the quarter was $730 million, as compared to $720 million in the same period a year ago. GAAP operating income from continuing operations for the quarter was $89 million (which includes $16 million of tariff related refunds), as compared to $91 million for the same period a year ago. GAAP operating profit margin from continuing operations was 12.2% as a percentage of revenue, as compared to 12.6% in the same period a year ago.

Adjusted earnings per share from continuing operations for the quarter was $1.41, as compared to $1.18 in the same period a year ago. Adjusted operating income was $211 million, as compared to $192 million for the same period a year ago. Adjusted operating profit margin was 28.9% as a percentage of revenue, as compared to 26.6% in the same period a year ago.

Enters into Definitive Agreement to Divest China Immunodiagnostics Business

The Company recently entered into a definitive agreement to divest its Immunodiagnostics business in China (“China IDX”), which represented approximately 6% of the Company’s total revenue in fiscal year 2025. The transaction is expected to close by the end of 2027, subject to customary closing conditions and regulatory approvals. The Company is providing second quarter 2026 financial results on a reported and pro forma basis; forward-looking guidance is provided on a pro forma basis only and excludes China IDX.

Pro forma earnings per share from continuing operations for the quarter was $0.52, as compared to $0.48 in the same period a year ago. Pro forma revenue for the quarter was $711 million, as compared to $681 million in the same period a year ago. Pro forma operating income was $94 million, as compared to $85 million in the same period a year ago. Pro forma operating profit margin was 13.2% as a percentage of pro forma revenue, as compared to 12.4% in the same period a year ago.

On a pro forma adjusted basis, earnings per share for the quarter was $1.41 (which includes approximately $0.11 from tariff related refunds), as compared to $1.15 in the same period a year ago. Pro forma adjusted operating income was $209 million (which includes $16 million of tariff related refunds), as compared to $180 million for the same period a year ago. Pro forma adjusted operating profit margin was 29.3% as a percentage of pro forma revenue, as compared to 26.5% in the same period a year ago.

Adjustments for the Company’s non-GAAP financial measures have been noted in the attached reconciliations.

“Revvity delivered a strong second quarter, with results above our expectations and encouraging signs of increased demand across our customer base,” said Prahlad Singh, president and chief executive officer of Revvity. “As we enter the second half of the year, given the clear momentum in our end markets, we are utilizing a portion of recently received tariff refunds to increase investments across the business, capitalize on emerging opportunities, and support future growth.”

Financial Overview by Reporting Segment

Life Sciences

Second quarter 2026 revenue was $359 million, as compared to $366 million in the same period a year ago. Pro forma revenue decreased 2% and pro forma organic revenue decreased 3% as compared to the same period a year ago.
Second quarter 2026 adjusted operating income was $112 million, as compared to $115 million in the same period a year ago. Adjusted operating profit margin was 31.1% as a percentage of revenue, as compared to 31.6% in the same period a year ago.

Diagnostics

Second quarter 2026 revenue was $371 million, as compared to $354 million in the same period a year ago. Pro forma revenue increased 12% and pro forma organic revenue increased 11% as compared to the same period a year ago.
Second quarter 2026 adjusted operating income was $113 million, as compared to $89 million in the same period a year ago. Adjusted operating profit margin was 30.4% as a percentage of revenue, as compared to 25.2% in the same period a year ago.

Full Year 2026 Guidance

For the full year 2026, on a pro forma basis, the Company forecasts total revenue of $2.83-$2.86 billion, pro forma organic revenue growth of 4-5%, and pro forma adjusted earnings per share of $5.30-$5.40.

Guidance for the full year 2026 for pro forma organic revenue growth and pro forma adjusted EPS is provided on a non-GAAP basis and cannot be reconciled to the closest GAAP measures without unreasonable effort due to the unpredictability of the amounts and timing of events affecting the items the Company excludes from these non-GAAP measures. The timing and amounts of such events and items could be material to the Company’s results prepared in accordance with GAAP.

Webcast Information

The Company will discuss its second quarter 2026 results and its outlook for business trends during a webcast on August 4, 2026, at 7:30 a.m. Eastern Time. A live audio webcast and presentation will be available on the Investors section of the Company’s website, ir.revvity.com.

Use of Non-GAAP Financial Measures

In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings announcement also contains non-GAAP financial measures. The reasons that we use these measures, a reconciliation of these measures to the most directly comparable GAAP measures, and other information relating to these measures are included below following our GAAP financial statements.

Factors Affecting Future Performance

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to estimates and projections of future earnings per share, cash flow and revenue growth and other financial results, developments relating to our customers and end-markets, and plans concerning business development opportunities, acquisitions and divestitures. Words such as “believes”, “intends”, “anticipates”, “plans”, “expects”, “estimates”, “projects”, “forecasts”, “will” and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management's current assumptions and expectations and no assurances can be given that our assumptions or expectations will prove to be correct. A number of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. These factors include, without limitation: (1) markets into which we sell our products declining or not growing as anticipated; (2) fluctuations in the global economic and political environments, including as the result of recently implemented and recently threatened tariff increases; (3) our failure to introduce new products in a timely manner; (4) our ability to execute acquisitions and divestitures, license technologies, or to successfully integrate acquired businesses or licensed technologies into our existing businesses or to make them profitable; (5) our ability to compete effectively; (6) fluctuation in our quarterly operating results and our ability to adjust our operations to address unexpected changes; (7) significant disruption in third-party package delivery and import/export services or significant increases in prices for those services; (8) disruptions in the supply of raw materials and supplies; (9) our ability to retain key personnel; (10) significant disruption in our information technology systems, or cybercrime; (11) uncertainties related to the development and use of AI in our product offerings and internal operations; (12) our ability to realize the full value of our intangible assets; (13) our failure to adequately protect our intellectual property; (14) the loss of any of our licenses or licensed rights; (15) the manufacture and sale of products exposing us to product liability claims; (16) our failure to maintain compliance with applicable government regulations; (17) our failure to comply with data privacy and information security laws and regulations; (18) regulatory changes; (19) our failure to comply with healthcare industry regulations; (20) economic, political and other risks associated with foreign operations; (21) our ability to obtain future financing; (22) restrictions in our credit agreements; (23) significant fluctuations in our stock price; (24) reduction or elimination of dividends on our common stock; and (25) other factors which we describe under the caption “Risk Factors” in our most recent quarterly report on Form 10-Q and in our other filings with the Securities and Exchange Commission. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

About Revvity

At Revvity, “impossible” is inspiration, and “can’t be done” is a call to action. Revvity provides health science solutions, technologies, expertise and services that deliver complete workflows from discovery to development, and diagnosis to cure. Revvity is revolutionizing what’s possible in healthcare, with specialized focus areas in translational multi-omics technologies, biomarker identification, imaging, prediction, screening, detection and diagnosis, informatics and more.

With 2025 revenue of $2.9 billion and approximately 11,000 employees, Revvity serves customers across pharmaceutical and biotech, diagnostic labs, academia and governments. It is part of the S&P 500 index and has customers in more than 160 countries.

Stay updated by following our Newsroom, LinkedIn, X, YouTube, Facebook and Instagram.

Revvity, Inc. and Subsidiaries

CONDENSED CONSOLIDATED INCOME STATEMENTS

Three Months Ended July 5, 2026

Three Months Ended June 29, 2025

(In thousands, except per share data)

As Reported

Pro Forma

As Reported

Pro Forma

Revenue

729,688

711,109

720,284

680,547

Cost of revenue

312,822

302,876

327,728

306,814

Selling, general and administrative expenses

278,576

265,739

248,526

235,812

Research and development expenses

48,974

48,798

53,270

Operating income from continuing operations

89,316

93,696

90,760

84,651

Interest income

(5,259

)

(5,242

)

(8,345

)

(8,327

)

Interest expense

22,990

22,937

Change in fair value of investments

5,251

1,955

Other expense, net

2,803

4,003

5,563

4,868

Income from continuing operations, before income taxes

63,531

66,694

68,650

63,218

Provision for income taxes

10,050

8,214

13,428

6,754

Income from continuing operations

53,481

58,480

55,222

56,464

Loss from discontinued operations

(1,661

)

(1,661

)

(1,274

)

(1,274

)

Net income

51,820

56,819

53,948

55,190

Diluted earnings per share:

Income from continuing operations

0.48

0.52

0.47

0.48

Loss from discontinued operations

(0.01

)

(0.01

)

(0.01

)

(0.01

)

Net income

0.47

0.51

0.46

0.47

Weighted average diluted shares of common stock outstanding

111,629

117,538

ABOVE PREPARED IN ACCORDANCE WITH GAAP

Additional supplemental information(1):

(per share, continuing operations)

Three Months Ended July 5, 2026

Three Months Ended June 29, 2025

As Reported

Pro Forma

As Reported

Pro Forma

GAAP EPS from continuing operations

0.48

0.52

0.47

0.48

Amortization of intangible assets

0.76

0.70

0.73

0.68

Purchase accounting adjustments

0.02

Acquisition and divestiture-related costs

—

0.01

Transformation costs

(0.01

)

(0.01

)

—

Change in fair value of investments

0.05

0.02

Significant litigation matters and settlements

—

0.01

Restructuring and other

0.32

0.10

Tax on above items

(0.21

)

(0.19

)

(0.16

)

(0.16

)

Adjusted EPS from continuing operations

1.41

1.18

1.15

(1) amounts may not sum due to rounding

Revvity, Inc. and Subsidiaries

CONDENSED CONSOLIDATED INCOME STATEMENTS

Six Months Ended July 5, 2026

Six Months Ended June 29, 2025

(In thousands, except per share data)

As Reported

Pro Forma

As Reported

Pro Forma

Revenue

1,440,806

1,398,021

1,385,046

1,309,245

Cost of revenue

636,285

612,042

616,944

578,190

Selling, general and administrative expenses

532,458

505,515

498,245

507,149

Research and development expenses

106,861

106,684

106,867

Operating income from continuing operations

165,202

173,780

162,990

117,039

Interest income

(11,563

)

(11,535

)

(18,426

)

(18,395

)

Interest expense

47,708

45,901

Change in fair value of investments

9,455

(1,118

)

(1,118

)

Other expense, net

6,079

6,567

15,601

14,296

Income from continuing operations, before income taxes

113,523

121,585

121,032

76,355

Provision for income taxes

19,149

17,814

24,141

23,664

Income from continuing operations

94,374

103,771

96,891

52,691

Loss from discontinued operations

(1,836

)

(1,836

)

(706

)

(706

)

Net income

92,538

101,935

96,185

51,985

Diluted earnings per share:

Income from continuing operations

0.84

0.93

0.82

0.44

Loss from discontinued operations

(0.02

)

(0.02

)

(0.01

)

(0.01

)

Net income

0.82

0.91

0.81

0.43

Weighted average diluted shares of common stock outstanding

111,746

118,882

ABOVE PREPARED IN ACCORDANCE WITH GAAP

Additional supplemental information(1):

(per share, continuing operations)

Six Months Ended July 5, 2026

Six Months Ended June 29, 2025

As Reported

Pro Forma

As Reported

Pro Forma

GAAP EPS from continuing operations

0.84

0.93

0.82

0.44

Amortization of intangible assets

1.52

1.41

1.32

Purchase accounting adjustments

0.02

Acquisition and divestiture-related costs

0.01

0.03

Change in fair value of investments

0.08

(0.01

)

(0.01

)

Loss from probable dispositions

—

0.29

Significant litigation matters and settlements

—

0.10

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

Restructuring and other

0.41

0.40

0.12

Tax on above items

(0.36

)

(0.34

)

(0.32

)

(0.23

)

Adjusted EPS from continuing operations

2.47

2.45

2.19

2.11

(1) amounts may not sum due to rounding

Revvity, Inc. and Subsidiaries

REVENUE AND OPERATING INCOME (LOSS)

Three Months Ended July 5, 2026

Three Months Ended June 29, 2025

(In thousands, except percentages)

As Reported

Pro Forma

As Reported

Pro Forma

Revenue and adjusted operating income

Revenue

729,688

711,109

720,284

680,547

Operating income from continuing operations

89,316

93,696

90,760

84,651

OP%

12.2

13.2

12.6

12.4

Amortization of intangible assets

84,871

78,383

85,289

79,903

Purchase accounting adjustments

1,866

2,178

Acquisition and divestiture-related costs

105

1,248

Transformation costs

(736

)

(736

)

—

Significant litigation matters and settlements

1,124

Restructuring and other

35,508

35,199

11,203

Adjusted operating income

211,009

208,526

191,802

180,307

OP%

28.9

29.3

26.6

26.5

Three Months Ended

July 5, 2****026

June 29, 2****025

(In thousands, except percentages)

Segment revenue:

Life Sciences

358,699

365,898

Diagnostics

370,989

354,386

Segment revenue

729,688

720,284

Segment operating income:

Life Sciences

111,534

115,469

31.1

31.6

Diagnostics

112,866

89,422

30.4

25.2

Segment operating income

224,400

204,891

Corporate

(13,391

)

(13,089

)

Adjusted operating income

211,009

191,802

Amortization of intangible assets

(84,871

)

(85,289

)

Purchase accounting adjustments

(1,866

)

(2,178

)

Acquisition and divestiture-related costs

(105

)

(1,248

)

Transformation costs

736

—

Significant litigation matters and settlements

(79

)

(1,124

)

Restructuring and other

(35,508

)

(11,203

)

Reported operating income from continuing operations

89,316

90,760

REVENUE AND REPORTED OPERATING INCOME (LOSS) PREPARED IN ACCORDANCE WITH GAAP

Revvity, Inc. and Subsidiaries

REVENUE AND OPERATING INCOME (LOSS)

Six Months Ended July 5, 2026

Six Months Ended June 29, 2025

(In thousands, except percentages)

As Reported

Pro Forma

As Reported

Pro Forma

Revenue and adjusted operating income

Revenue

1,440,806

1,398,021

1,385,046

1,309,245

Operating income from continuing operations

165,202

173,780

162,990

117,039

OP%

11.5

12.4

11.8

8.9

Amortization of intangible assets

169,952

157,092

167,989

157,246

Purchase accounting adjustments

2,007

2,001

Acquisition and divestiture-related costs

387

324

3,789

Disposition of businesses and assets, net

(5,074

)

(5,074

)

—

Transformation costs

—

Loss from probable dispositions

—

34,243

Significant litigation matters and settlements

148

11,710

Significant environmental matters

—

(1,208

)

(1,208

)

Restructuring and other

46,183

45,197

14,442

Adjusted operating income

378,863

373,532

361,713

339,262

OP%

26.3

26.7

26.1

25.9

Six Months Ended

July 5, 2****026

June 29, 2****025

(In thousands, except percentages)

Segment revenue:

Life Sciences

720,544

706,293

Diagnostics

720,262

678,753

Segment revenue

1,440,806

1,385,046

Segment operating income:

Life Sciences

215,513

221,180

29.9

31.3

Diagnostics

188,988

163,437

26.2

24.1

Segment operating income

404,501

384,617

Corporate

(25,638

)

(22,904

)

Adjusted operating income

378,863

361,713

Amortization of intangible assets

(169,952

)

(167,989

)

Purchase accounting adjustments

(2,007

)

(2,001

)

Acquisition and divestiture-related costs

(387

)

(3,789

)

Disposition of businesses and assets, net

5,074

—

Transformation costs

(58

)

—

Significant litigation matters and settlements

(148

)

(11,710

)

Significant environmental matters

—

1,208

Restructuring and other

(46,183

)

(14,442

)

Reported operating income from continuing operations

165,202

162,990

REVENUE AND REPORTED OPERATING INCOME (LOSS) PREPARED IN ACCORDANCE WITH GAAP

Revvity, Inc. and Subsidiaries

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands)

July 5, 2****026

December 28, 2****025

Current assets:

Cash and cash equivalents

1,022,943

919,860

Accounts receivable, net

709,175

744,671

Inventories, net

378,502

379,497

Other current assets

187,101

195,719

Total current assets

2,297,721

2,239,747

Property, plant and equipment, net

456,251

479,249

Operating lease right-of-use assets, net

150,945

165,439

Intangible assets, net

2,224,001

2,347,003

Goodwill

6,607,802

6,613,493

Other assets, net

309,114

323,480

Total assets

12,045,834

12,168,411

Current liabilities:

Current portion of long-term debt

572,156

588,828

Accounts payable

165,740

185,464

Accrued expenses and other current liabilities

538,461

556,954

Total current liabilities

1,276,357

1,331,246

Long-term debt

2,633,094

2,631,236

Long-term liabilities

771,359

807,461

Operating lease liabilities

136,266

148,108

Total liabilities

4,817,076

4,918,051

Total stockholders' equity

7,228,758

7,250,360

Total liabilities and stockholders' equity

12,045,834

12,168,411

PREPARED IN ACCORDANCE WITH GAAP

Revvity, Inc. and Subsidiaries

CONSOLIDATED STATEMENTS OF CASH FLOWS

Three Months Ended

Six Months Ended

(In thousands)

July 5, 2****026

June 29, 2****025

July 5, 2****026

June 29, 2****025

Operating activities:

Net income

51,820

53,948

92,538

96,185

Loss from discontinued operations, net of income taxes

1,661

1,274

1,836

706

Income from continuing operations

53,481

55,222

94,374

96,891

Adjustments to reconcile income from continuing operations to net cash provided by continuing operations:

Stock-based compensation

10,731

10,133

19,446

17,864

Restructuring and other

35,508

11,203

46,183

14,442

Depreciation and amortization

102,039

102,778

207,095

200,200

Change in fair value of contingent consideration

1,626

459

1,527

(166

)

Amortization of deferred debt financing costs and accretion of discounts

1,301

1,218

2,440

2,320

Change in fair value of investments

5,251

1,955

9,455

(1,118

)

Unrealized foreign exchange loss

206

186

140

Gains on disposition of businesses and assets, net

—

(5,074

)

—

Changes in assets and liabilities which (used) provided cash:

Accounts receivable, net

(17,631

)

(40,041

)

43,916

(21,901

)

Inventories, net

8,060

11,128

(4,778

)

5,642

Accounts payable

(4,320

)

(5,576

)

(18,064

)

3,278

Accrued expenses and other

(4,189

)

(14,367

)

(78,876

)

(49,177

)

Net cash provided by operating activities of continuing operations

191,943

134,318

317,830

268,415

Net cash used in operating activities of discontinued operations

—

(10,657

)

(5,942

)

Net cash provided by operating activities

191,943

134,318

307,173

262,473

Investing activities:

Capital expenditures

(11,073

)

(18,868

)

(30,848

)

(34,850

)

Purchases of investments and notes receivables

(2,506

)

—

(3,561

)

—

Proceeds from investments and notes receivables

6,819

—

7,496

—

Proceeds from dispositions of property, plant and equipment

3,036

—

12,039

—

Proceeds from disposition of businesses and assets

—

158

229

Cash paid for acquisitions, net of cash acquired

219

—

(67,061

)

—

Net cash used in investing activities of continuing operations

(3,505

)

(18,868

)

(81,777

)

(34,621

)

Net cash provided by investing activities of discontinued operations

—

9,375

—

18,750

Net cash used in investing activities

(3,505

)

(9,493

)

(81,777

)

(15,871

)

Financing Activities:

Payments of debt financing costs

—

(72

)

—

(2,474

)

Payments on other credit facilities

—

(53

)

—

(103

)

Payments for acquisition-related contingent consideration

(350

)

(161

)

(350

)

(1,978

)

Proceeds from issuance of common stock under stock plans

996

—

6,437

2,632

Purchases of common stock

(15,992

)

(293,907

)

(102,488

)

(447,501

)

Dividends paid

(7,814

)

(8,282

)

(15,654

)

(16,715

)

Net cash used in financing activities

(23,160

)

(302,475

)

(112,055

)

(466,139

)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

(2,563

)

31,953

(10,190

)

48,075

Net increase (decrease) in cash, cash equivalents, and restricted cash

162,715

(145,697

)

103,151

(171,462

)

Cash, cash equivalents, and restricted cash at beginning of period

861,466

1,138,687

921,030

1,164,452

Cash, cash equivalents, and restricted cash at end of period

1,024,181

992,990

1,024,181

992,990

Supplemental disclosure of cash flow information:

Reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total shown in the consolidated statements of cash flows:

Cash and cash equivalents

1,022,943

991,849

1,022,943

991,849

Restricted cash included in other current assets

713

1,141

713

1,141

Restricted cash included in other assets

525

—

525

—

Total cash, cash equivalents and restricted cash

1,024,181

992,990

1,024,181

992,990

PREPARED IN ACCORDANCE WITH GAAP

Contacts

Investor Relations:

Steve Willoughby [email protected]

Media Relations:

Chet Murray (781) 462-5126 [email protected]

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