REVVITY INC

We are a leading provider of 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.

The principal products and services of our two reportable segments are:

•Life Sciences. Provides products and services targeted towards life sciences customers.

•Diagnostics. Develops diagnostics, tools and applications focused on clinically-oriented customers, especially within the areas of reproductive health, emerging market diagnostics and applied genomics.

Overview of the First Quarter of Fiscal Year 2024

Our overall revenue in the first quarter of fiscal year 2024 was $649.9 million which decreased by $24.9 million, or 4%, as compared to the first quarter of fiscal year 2023, reflecting a decrease of $25.4 million, or 8%, in our Life Sciences segment revenue, which was partially offset by an increase of $0.5 million, or less than 1%, in our Diagnostics segment revenue. The decrease in our Life Sciences segment revenue for the first quarter of fiscal year 2024 was driven by a decrease in instruments revenue and reagents revenue due to market headwinds, partially offset by an increase in software revenue. The increase in our Diagnostics segment revenue for the first quarter of fiscal year 2024 was driven by increased demand in our reproductive health and immunodiagnostics businesses, partially offset by a decrease in revenue fromour applied genomics business.

Our consolidated gross margins decreased 188 basis points in the first quarter of fiscal year 2024, as compared to the first quarter of fiscal year 2023, primarilydue to lower sales volume partially offset by pricing actions and productivity gains. For the first quarter of fiscal year 2024 and in the same period last year, supply chain disruptions and inflation did not materially impact our results of operations as the effects of our initiatives to reduce transportation costs more than offset the impact of inflation on our raw materials purchases. Our consolidated operating margins decreased from 11% to 7% in the first quarter of fiscal year 2024, as compared to the first quarter of fiscal year 2023, primarily due to lower sales volume and increased expenses related to rebranding and normalization of variable compensation.