REVVITY INC

Life Sciences

Revenue for the three months ended September 29, 2024 was $300.9 million, as compared to $307.9 million for the three months ended October 1, 2023, a decrease of $6.9 million, or 2%. The decrease in our Life Sciences segment revenue during the three months ended September 29, 2024 was driven by a decrease of $10.9 million in instruments revenue and a decrease of $2.9 million in software revenue, partially offset by an increase of $6.9 million in reagents revenue.

Revenue for the nine months ended September 29, 2024 was $917.8 million, as compared to $972.6 million for the nine months ended October 1, 2023, a decrease of $54.8 million, or 6%. The decrease in our Life Sciences segment revenue during the nine months ended September 29, 2024 was driven by a decrease of $40.0 million in instruments revenue and a decrease of $21.2 million in reagents revenue, partially offset by an increase of $6.3 million in software revenue.

Segment operating income for the three months ended September 29, 2024 was $103.0 million, as compared to $114.2 million for the three months ended October 1, 2023, a decrease of $11.2 million, or 10%. Segment operating margin decreased 287 basis points in the three months ended September 29, 2024, as compared to the three months ended October 1, 2023, primarily due to lower sales volume and continued investments, partially offset by pricing actions.

Segment operating income for the nine months ended September 29, 2024 was $317.1 million, as compared to $371.4 million for the nine months ended October 1, 2023, a decrease of $54.3 million, or 15%. Segment operating margin decreased 364 basis points in the nine months ended September 29, 2024, as compared to the nine months ended October 1, 2023, primarily due to lower sales volume and unfavorable product mix, partially offset by pricing actions and cost containment.

Diagnostics

Revenue for the three months ended September 29, 2024 was $383.3 million, as compared to $363.1 million for the three months ended October 1, 2023, an increase of $20.2 million, or 6%. Theincrease in our Diagnostics segment revenue duringthe three months ended September 29, 2024 was driven by an increase of $11.4 million in immunodiagnostics revenue andan increase of $9.6 million in reproductive health revenue, partially offset bya decrease of $0.7 million in applied genomics revenue.

Revenue for the nine months ended September 29, 2024 was $1,108.5 million, as compared to $1,082.6 million for the nine months ended October 1, 2023, an increase of $25.8 million, or 2%, which includes a 1% decrease in revenue attributable to unfavorable changes in foreign exchange rates. The increase in our Diagnostics segment revenue during the nine months ended September 29, 2024 was driven by an increase of $38.5 million in immunodiagnostics revenue and an increase of $11.9 million in reproductive health revenue, partially offset by a decrease of $24.5 million in applied genomics revenue.

Segment operating incomefor the three months ended September 29, 2024 was $101.4 million, as compared to $81.7 millionfor the three months ended October 1, 2023, an increase of $19.7 million, or 24%. Segment operating margin increased 395 basis points in the three months ended September 29, 2024, as compared to the three months ended October 1, 2023, primarily due to higher sales volume, cost containment, and productivity initiatives.

Segment operating income for the nine months ended September 29, 2024 was $274.8 million, as compared to $241.4 million for the nine months ended October 1, 2023, an increase of $33.4 million, or 14%. Segment operating margin increased 249 basis points in the nine months ended September 29, 2024, as compared to the nine months ended October 1, 2023, primarily due to higher sales volume, cost containment, and productivity initiatives.