REVVITY INC

We require cash to pay our operating expenses, make capital expenditures, make strategic acquisitions, service our debt and other long-term liabilities, repurchase shares of our common stock and pay dividends on our common stock. Our principal sources of funds are our internal operations, borrowing capacity available under our senior unsecured revolving credit facility and access to debt markets. We anticipate that our internal operations will generate sufficient cash to fund our operating expenses, capital expenditures, acquisitions, interest payments on our debt and dividends on our common stock, for the foreseeable future, including at least the next 12 months. The sale of the Business generated approximately $2.27 billion in cash proceeds. We expect to continue to use these proceeds for a combination of debt retirement, opportunistic share repurchases and continued strategic and value creating acquisitions.

At March 30, 2025, we had cash and cash equivalents of$1,137.6 million, of which $533.7 million was held by our non-U.S. subsidiaries, and we had$1.5 billion of borrowing capacity available under our senior unsecured revolving credit facility. We use a variety of cash redeployment and financing strategies to ensure that our worldwide cash is available in the locations in which it is needed.

In connection with the sale of the Business, we are entitled to proceeds in installments that commenced upon our ceasing the use of the former brand and related trademarks and transferring them to the purchaser of the Business (the “Brand Fee”). As of March 30, 2025, the remaining balance related to the Brand Fee is$46.9 million, which is expected to be received in installments through the second half of fiscal year 2025.

On October 24, 2024, our Board of Directors(our“Board”)authorized us to repurchase shares of common stock for an aggregate amount up to $1.0 billion under a stock repurchase program (the “Repurchase Program”). The Repurchase Program will expire on October 23, 2026 unless terminated earlier by our Board and may be suspended or discontinued at any time. As of March 30, 2025,$707.2 million remained available for aggregate repurchases of shares under the Repurchase Program. If we continue to repurchase shares, the Repurchase Program will be funded using our existing financial resources, including cash and cash equivalents, and our existing senior unsecured revolving credit facility.

As of March 30, 2025, we may have to pay contingent consideration related to acquisitions with open contingency periods of up to $75.9 million. As of March 30, 2025, we have recorded contingent consideration obligations of $19.7 million, of which $6.9 million was recorded in accrued expenses and other current liabilities, and $12.8 million was recorded in long- term liabilities. The maximum earnout period for acquisitions with open contingency periods is 6.7 years from March 30, 2025, and the remaining weighted average expected earnout period at March 30, 2025 was 4.1 years.

Distressed global financial markets could adversely impact general economic conditions by reducing liquidity and credit availability, creating increased volatility in security prices, widening credit spreads, increasing the cost of borrowings and decreasing valuations of certain investments. The widening of credit spreads may create a less favorable environment for certain of our businesses and may affect the fair value of financial instruments that we issue or hold. Increases in credit spreads, as well as limitations on the availability of credit at rates we consider to be reasonable, could affect our ability to borrow under future potential facilities on a secured or unsecured basis, which may adversely affect our liquidity and results of operations. In difficult global financial markets, we may be forced to fund our operations at a higher cost, or we may be unable to raise as much funding as we need to support our business activities or fund our strategic transactions.

We and our subsidiaries may from time to time, in our sole discretion, purchase, repay, redeem or retire any of our outstanding debt securities (including any publicly issued debt securities), in privately negotiated or open market transactions, by tender offer or otherwise, or extend or refinance any of our outstanding indebtedness.

Principal factors that could affect the availability of our internally generated funds include:

•changes in sales due to weakness in markets in which we sell our products and services, and

•changes in our working capital requirements and capital expenditures.

Principal factors that could affect our ability to obtain cash from external sources include:

•financial covenants contained in the financial instruments controlling our borrowings that limit our total borrowing capacity,

•increases in interest rates applicable to our outstanding variable rate debt,

•a ratings downgrade that could limit the amount we can borrow under our senior unsecured revolving credit facility and our overall access to the corporate debt market,

•increases in interest rates or credit spreads, as well as limitations on the availability of credit, that affect our ability to borrow under future potential facilities on a secured or unsecured basis,

•a decrease in the market price for our common stock, and

•volatility in the public debt and equity markets.

Cash Flows

Operating Activities. Net cash provided by operating activities of ourcontinuing operations was $134.1 million for the three months ended March 30, 2025, as compared to $150.1 million for the three months ended March 31, 2024, a decrease of $16.0 million, primarilydue to timing of collections, increased variable incentive compensation and tax payments during the three months ended March 30, 2025 as compared to the three months ended March 31, 2024. The cash provided by operating activities for the three months ended March 30, 2025 was principally a result of income from continuing operations of $41.7 million, adjustments for non-cash charges aggregating to $105.7 million, including depreciation and amortization of $97.4 million, and a net cash decrease in working capital of $13.3 million. The cash provided by operating activities for the three months ended March 31, 2024 was principally a result of income from continuing operations of $28.7 million, and adjustments for non-cash charges aggregating to $140.2 million, including depreciation and amortization of $107.8 million, and a net cash decrease in working capital of $18.7 million.

Investing Activities. Net cash used in investing activitiesof our continuing operationswas $15.8 million for the three months ended March 30, 2025, as compared to $18.2 million for the three months ended March 31, 2024, a decrease of $2.4 million. During the three months ended March 30, 2025, net cash used for capital expenditures was $16.0 million, as compared to $17.8 million for the three months ended March 31, 2024. The cash used in investing activities during the three months ended March 30, 2025 was partially offset by $0.2 million proceeds from disposition of businesses and assets. During the three months ended March 31, 2024, purchases of investments and notes receivables amounted to $0.3 million.

Financing Activities. Net cash used in financing activities was $163.7 million for the three months ended March 30, 2025, as compared to $35.0 million for the three months ended March 31, 2024, an increase of $128.7 million. During the three months ended March 30, 2025, we repurchased shares of our common stock for a total cost of $153.6 million, as compared to $10.8 million in the prior year period. We paid $8.4 million in dividends for the three months ended March 30, 2025, as compared to $8.6 million for the three months ended March 31, 2024. During the three months ended March 30, 2025, we made net payments of$2.5 millionon debts, as compared to $10.8 million during the three months ended March 31, 2024. We paid $1.8 million for acquisition-related contingent consideration during the three months ended March 30, 2025, as compared to $8.7 million in the prior year period. The cash used in financing activities during the three months ended March 30, 2025 was partially offset by proceeds from the issuance of common stock under our stock plans of $2.6 million during the three months ended March 30, 2025, as compared to $3.9 million for the three months ended March 31, 2024.

Borrowing Arrangements

On January 7, 2025, our prior senior unsecured revolving credit facility was cancelled and replaced with a new senior unsecured revolving credit facility with a five-year term and a borrowing capacity of$1.5 billion available through January 7, 2030. See Note 6, Debt, in the Notes to Condensed Consolidated Financial Statements and Note 12, Debt, to our audited consolidated financial statements in the 2024 Form 10-Kfor a detailed discussion of our borrowing arrangements.