REVVITY, INC.

Previous wording

Overview of the First Quarter of Fiscal Year 2025

Current wording

Overview of the Second Quarter of Fiscal Year 2025

Previous wording

Our overall revenue in the first quarter of fiscal year 2025 was $664.8 million which increased by $14.8 million, or 2%, as compared to the first quarter of fiscal year 2024, reflecting an increase of $11.0 million, or 3%, in our Diagnostics segment revenue, and an increase of $3.9 million, or 1%, in our Life Sciences segment revenue. The increase in our Diagnostics segment revenue for the first quarter of fiscal year 2025 was driven by increased demand in our Immunodiagnostics and Reproductive Health businesses. The increase in our Life Sciences segment revenue for the first quarter of fiscal year 2025 was driven by an increase in our Software revenue, partially offset by a decrease in our Life Sciences Solutions revenue.

Current wording

Our overall revenue in the second quarter of fiscal year 2025 was $720.3 million which increased by $28.6 million, or 4%, as compared to the second quarter of fiscal year 2024, reflecting an increase of $11.2 million, or 3%, in our Diagnostics segment revenue, and an increase of $17.4 million, or 5%, in our Life Sciences segment revenue. The increase in our Diagnostics segment revenue for the second quarter of fiscal year 2025 was driven by our Immunodiagnostics and Reproductive Health businesses. The increase in our Life Sciences segment revenue for the second quarter of fiscal year 2025 was driven by increased revenue in our Software business.

Previous wording

Our consolidated gross margins increased 186 basis points in the first quarter of fiscal year 2025, as compared to the first quarter of fiscal year 2024, primarily due to higher sales volume and productivity, and favorable product mix. Our consolidated operating margins increased from 7% to 11% in the first quarter of fiscal year 2025, as compared to the first quarter of fiscal year 2024, primarily due to gross margin expansion and cost containment.

Current wording

Our consolidated gross margins decreased 123 basis points in the second quarter of fiscal year 2025, as compared to the second quarter of fiscal year 2024, primarily due to increased tariffs and product mix shift partially offset by pricing actions. Our consolidated operating margins increased 20 basis points in the second quarter of fiscal year 2025, as compared to the second quarter of fiscal year 2024, primarily due to sales volume leverage and productivity gains offsetting gross margin headwinds.

Previous wording

For a more detailed discussion of our critical accounting policies and estimates, refer to the Notes to our audited consolidated financial statements and Item 7.“Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in our Annual Report on Form 10-K for the fiscal year ended December 29, 2024 (our “2024 Form 10-K”), as filed with the Securities and Exchange Commission. There have been no significant changes in our critical accounting policies and estimates during the three months ended March 30, 2025.

Current wording

For a more detailed discussion of our critical accounting policies and estimates, refer to the Notes to our audited consolidated financial statements and Item 7.“Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in our Annual Report on Form 10-K for the fiscal year ended December 29, 2024 (our “2024 Form 10-K”), as filed with the Securities and Exchange Commission. There have been no significant changes in our critical accounting policies and estimates during the six months ended June 29, 2025.

Previous wording

Revenue for the three months ended March 30, 2025 was $664.8 million, as compared to $649.9 million for the three months ended March 31, 2024, an increase of $14.8 million, or approximately 2%. The analysis in the remainder of this paragraph comp ares segment revenue and includes the effect of foreign exchange rate fluctuations. Life Sciences segment revenue was $340.4 million for the three months ended March 30, 2025, as compared to $336.5 million for the three months ended March 31, 2024, an increase of $3.9 million, or 1%, driven by an increase of $9.0 million in software revenue, partially offset by a decrease of $5.2 million in life sciences solutions revenue. Diagnostics segment revenue was $324.4 million for the three months ended March 30, 2025, as compared to $313.4 million for the three months ended March 31, 2024, an increase of $11.0 million, or 3%, due to an increase of $8.9 million in immunodiagnostics revenue andan increase of $2.1 million in reproductive health revenue.

Current wording

Revenue for the six months ended June 29, 2025 was $1,385.0 million, as compared to $1,341.6 million for the six months ended June 30, 2024, an increase of $43.4 million, or approximately 3%. The analysis in the remainder of this paragraph comp ares segment revenue and includes the effect of foreign exchange rate fluctuations. Life Sciences segment revenue was $706.3 million for the six months ended June 29, 2025, as compared to $685.0 million for the six months ended June 30, 2024, an increase of $21.3 million, or 3%, driven by an increase of $26.1 million in Software revenue, partially offset by a decrease of $4.9 million in Life Sciences Solutions revenue. Diagnostics segment revenue was $678.8 million for the six months ended June 29, 2025, as compared to $656.6 million for the six months ended June 30, 2024, an increase of $22.2 million, or 3%, due to an increase of $14.5 million in Immunodiagnostics revenue andan increase of $7.7 million in Reproductive Health revenue.

Previous wording

Cost of revenue for the three months ended March 30, 2025 was $289.2 million, as compared to $294.9 million for the three months ended March 31, 2024, a decrease of $5.7 million, or 2%. As a percentage of revenue, cost of revenue decreased to 43.5% for the three months ended March 30, 2025, from 45.4% for the three months ended March 31, 2024, resulting in an increase in gross margin of 186 basis points to 56.5% for the three months ended March 30, 2025, from 54.6% for the three months ended March 31, 2024, primarily due to higher sales volume, productivity and favorable product mix. Stock compensation expense related to awards given to BioLegend employees post-acquisition added an incremental expense of $0.2 million for the three months ended March 31, 2024. Rebranding costs were $4.5 million for the three months ended March 31, 2024. Amortization of intangible assets was $34.4 million for the three months ended March 30, 2025, as compared to $35.4 million for the three months ended March 31, 2024.

Current wording

Cost of revenue for the three months ended June 29, 2025 was $327.7 million, as compared to $306.2 million for the three months ended June 30, 2024, an increase of $21.5 million, or 7%. As a percentage of revenue, cost of revenue increased to 45.5% for the three months ended June 29, 2025, from 44.3% for the three months ended June 30, 2024, resulting in a decrease in gross margin of 123 basis points to 54.5% for the three months ended June 29, 2025, from 55.7% for the three months ended June 30, 2024, primarily due to increased tariffs, unfavorable changes in foreign exchange rates and product mix shift partially offset by pricing actions. Stock compensation expense related to awards given to BioLegend employees post-acquisition added an incremental expense of $0.2 million for the three months ended June 30, 2024. Rebranding costs were $1.6 million for the three months ended June 30, 2024. Amortization of intangible assets was $36.5 million for the three months ended June 29, 2025, as compared to $37.3 million for the three months ended June 30, 2024.

Previous wording

We estimate that pursuant to the tariffs recently enacted and currently in effect, our gross cost of revenue for the current fiscal year could increase by approximately $135 million, however, we anticipate that as the result of the mitigating actions that we have taken and plan to take, the decrease to our operating income as a result of the tariffs for the current fiscal year will be approximately $20 million. The majority of this impact affects products manufactured in the U.S. and sold into China, with the remainder affecting products manufactured in Europe for the U.S. market. For U.S.-manufactured products sold to China, we expect to almost fully neutralize the tariff impact within the next two months through operational adjustments. Regarding European-manufactured products sold to the U.S., we are implementing a comprehensive mitigation strategy that includes manufacturing optimization, supplier collaboration, selective pricing actions, and targeted temporary cost measures to minimize financial exposure.

Current wording

We now estimate that pursuant to the tariffs recently enacted and currently in effect, our cost of revenue for the current fiscal year could increase by approximately $25 million. However, we anticipate that as the result of the mitigating actions that we have taken and plan to take, the tariffs would result in a decrease to our gross margin for the current fiscal year of approximately $20 million. The majority of this impact affects products manufactured in Europe for the U.S. market. We are implementing a comprehensive mitigation strategy that includes manufacturing optimization, supplier collaboration, selective pricing actions, and targeted temporary cost measures to minimize financial exposure.

Previous wording

Selling, general and administrative expenses for the three months ended March 30, 2025 were $249.7 million, as compared to $260.6 million for the three months ended March 31, 2024, a decrease of $10.9 million, or 4%. As a percentage of revenue, selling, general and administrative expenses decreased and were 37.6% for the three months ended March 30, 2025, as compared to 40.1% for the three months ended March 31, 2024. Amortization of intangible assets decreased and was $48.3 million for the three months ended March 30, 2025, as compared to $55.8 million for the three months ended March 31, 2024. Acquisition and divestiture-related expenses, which primarily consisted of legal and integration costs, added an incremental expense of $2.5 million for the three months ended March 30, 2025. Acquisition and divestiture-related expenses, which primarily consisted of legal and integration costs, and stock compensation expense related to the awards given to BioLegend employees post-acquisition, added an incremental expense of $6.1 million for the three months ended March 31, 2024. Purchase accounting adjustments decreased expenses by $0.4 million for the three months ended March 30, 2025, which primarily consisted of a change in contingent consideration, as compared to increasing expenses by $6.2 million for the three months ended March 31, 2024. Restructuring and other costs, net, decreased and was $3.2 million for the three months ended March 30, 2025, as compared to $12.4 million for the three months ended March 31, 2024. Costs for significant environmental matters decreased by $1.2 million for the three months ended March 30, 2025 as compared to the three months ended March 31,

Current wording

Selling, general and administrative expenses for the three months ended June 29, 2025 were $248.5 million, as compared to $251.7 million for the three months ended June 30, 2024, a decrease of $3.1 million, or 1%. As a percentage of revenue, selling, general and administrative expenses decreased and were 34.5% for the three months ended June 29, 2025, as compared to 36.4% for the three months ended June 30, 2024. Amortization of intangible assets decreased and was $48.8 million for the three months ended June 29, 2025, as compared to $53.3 million for the three months ended June 30, 2024. Acquisition and divestiture-related expenses, which primarily consisted of legal and integration costs, and transformation expenses, added an incremental expense of $1.2 million for the three months ended June 29, 2025. Acquisition and divestiture-related expenses, which primarily consisted of legal and integration costs, and stock compensation expense related to the awards given to BioLegend employees post-acquisition, added an incremental expense of $3.3 million for the three months ended June 30, 2024. Significant litigation matters and settlements added an incremental expense of $1.1 million for the three months ended June 29, 2025, as compared to $6.3 million for the three months ended June 30, 2024. The above decreases were partially offset by an increase in restructuring and other costs, net, which was $11.2 million for the three months ended June 29, 2025, as compared to $9.8 million for the three months ended June 30, 2024. Purchase accounting adjustments increased expenses by $2.0 million for the three months ended June 29, 2025, as compared to $0.2 million for the three months ended June 30, 2024, which primarily consisted of a change in contingent consideration. Excluding the items noted above, selling, general and administrative expenses increased due to unfavorable changes in foreign exchange rates, and investments in people, innovation and digital capabilities.

Previous wording

The above decreases were also partially offset by significant litigation matters and settlements, which added an incremental expense of $10.6 million for the three months ended March 30, 2025. Excluding the factors above, the increase in selling, general and administrative expenses was the result of investments in people, innovation and digital capabilities.

Current wording

Selling, general and administrative expenses for the six months ended June 29, 2025 were $498.2 million, as compared to $512.2 million for the six months ended June 30, 2024, a decrease of $14.0 million, or 3%. As a percentage of revenue, selling, general and administrative expenses decreased and were 36.0% for the six months ended June 29, 2025, as compared to 38.2% for the six months ended June 30, 2024. Amortization of intangible assets decreased and was $97.1 million for the six months ended June 29, 2025, as compared to $109.2 million for the six months ended June 30, 2024. Restructuring and other costs, net, decreased and were $14.4 million for the six months ended June 29, 2025, as compared to $22.2 million for the six months ended June 30, 2024. Acquisition and divestiture-related expenses, which primarily consisted of legal and integration costs, and transformation expenses, added an incremental expense of $3.8 million for the six months ended June 29, 2025. Acquisition and divestiture-related expenses, which primarily consisted of legal and integration costs, and stock compensation expense related to the awards given to BioLegend employees post-acquisition, added an incremental expense of $9.4 million for the six months ended June 30, 2024. Purchase accounting adjustments increased expenses by $1.6 million for the six months ended June 29, 2025, as compared to $6.4 million for the six months ended June 30, 2024, which primarily consisted of a change in contingent consideration. Costs for significant environmental matters decreased by $1.2 million for the six months ended June 29, 2025. The above decreases were partially offset by significant litigation matters and settlements, which added an incremental expense of $11.7 million for the six months ended June 29, 2025, as compared to $6.3 million for the six months ended June 30, 2024. Excluding the items noted above, selling, general and administrative expenses increased due to unfavorable changes in foreign exchange rates, and investments in people, innovation and digital capabilities.

Previous wording

Research and development expenses for the three months ended March 30, 2025 were $53.6 million, as compared to $50.4 million for the three months ended March 31, 2024, an increase of $3.2 million, or 6%. As a percentage of revenue, research and development expenses increased and were 8.1% for the three months ended March 30, 2025, as compared to 7.7% for the three months ended March 31, 2024. The increase in research and development expenses was primarily driven by our investments in new product development. Stock compensation expense related to awards given to BioLegend employees post-acquisition added an incremental expense of $0.7 million for the three months ended March 31, 2024.

Current wording

Research and development expenses for the three months ended June 29, 2025 were $53.3 million, as compared to $48.1 million for the three months ended June 30, 2024, an increase of $5.1 million, or 11%. As a percentage of revenue, research and development expenses increased and were 7.4% for the three months ended June 29, 2025, as compared to 7.0% for the three months ended June 30, 2024. The increase in research and development expenses was primarily driven by unfavorable changes in foreign exchange rates and our investments in new product development. Stock compensation expense related to awards given to BioLegend employees post-acquisition added an incremental expense of $0.7 million for the three months ended June 30, 2024.

Previous wording

Interest and Other Expense, Net

Current wording

Interest and Other Expense (Income), Net

Previous wording

Interest and other expense, net, consisted of the following:

Current wording

Interest and other expense (income), net, consisted of the following:

Previous wording

The provision for income taxes from continuing operations was $10.7 million for the three months ended March 30, 2025, as compared to $5.9 million for the three months ended March 31, 2024.

Current wording

The provision for income taxes from continuing operations was $13.4 million for the three months ended June 29, 2025, as compared to $14.1 million for the three months ended June 30, 2024. The provision for income taxes from continuing operations was $24.1 million for thesix months ended June 29, 2025, as compared to $19.9 million for thesix months ended June 30, 2024.

Previous wording

The effective tax rate from continuing operations was 20.5% for the three months ended March 30, 2025, as compared to 16.9% for the three months ended March 31, 2024. The effective tax rate for the three months ended March 30, 2025 was higher primarily due to projected higher income in certain higher tax rate jurisdictions in fiscal year 2025 as compared to fiscal year 2024. We expect that the effective tax rate on continuing operations, before discrete items, will be approximately 20% during fiscal year 2025.

Current wording

The effective tax rate from continuing operations was 19.6% and 19.9% for the three and six months ended June 29, 2025, as compared to 16.2% and 16.4% for the three and six months ended June 30, 2024. The effective tax rate for the three and six months ended June 29, 2025 was higher as compared to the three and six months ended June 30, 2024 primarily due to projected higher income in certain higher tax rate jurisdictions in fiscal year 2025 as compared to fiscal year 2024. We expect that the effective tax rate on continuing operations, before discrete items, will be approximately 20% during fiscal year 2025.

Previous wording

Revenue for the three months ended March 30, 2025 was $340.4 million, as compared to $336.5 million for the three months ended March 31, 2024, an increase of $3.9 million, or 1%, which includes an approximate 1% decrease in revenue attributable to unfavorable changes in foreign exchange rates. The increase in our Life Sciences segment revenue during the three months ended March 30, 2025 was driven by an increase of $9.0 million in Software revenue, partially offset by a decrease of $5.2 million in Life Sciences Solutions revenue.

Current wording

Revenue for the three months ended June 29, 2025 was $365.9 million, as compared to $348.5 million for the three months ended June 30, 2024, an increase of $17.4 million, or 5%, which includes an approximate 1% increase in revenue attributable to favorable changes in foreign exchange rates. The increase in our Life Sciences segment revenue during the three months ended June 29, 2025 was driven by an increase of $17.1 million in Software revenue and an increase of $0.3 million in Life Sciences Solutions revenue.

Previous wording

Revenue for the three months ended March 30, 2025 was $324.4 million, as compared to $313.4 million for the three months ended March 31, 2024, an increase of $11.0 million, or 3%, which includes an approximate 2% decrease in revenue attributable to unfavorable changes in foreign exchange rates. Theincrease in our Diagnostics segment revenue duringthe three months ended March 30, 2025 was driven by an increase of $8.9 million in Immunodiagnostics revenue andan increase of $2.1 million in Reproductive Health revenue.

Current wording

Revenue for the three months ended June 29, 2025 was $354.4 million, as compared to $343.2 million for the three months ended June 30, 2024, an increase of $11.2 million, or 3%, which includes an approximate 1% increase in revenue attributable to favorable changes in foreign exchange rates. Theincrease in our Diagnostics segment revenue duringthe three months ended June 29, 2025 was driven by an increase of $5.6 million in Immunodiagnostics revenue andan increase of $5.7 million in Reproductive Health revenue.

Previous wording

Segment operating incomefor the three months ended March 30, 2025 was $74.0 million, as compared to $76.2 millionfor the three months ended March 31, 2024, a decrease of $2.2 million, or 3%. Segment operating margin decreased 150 basis points in the three months ended March 30, 2025, as compared to the three months ended March 31, 2024, primarily due to continued investments in new product development, digital capabilities and growth initiatives, partially offset by pricing actions and higher productivity.

Current wording

Segment operating incomefor the three months ended June 29, 2025 was $89.4 million, as compared to $92.7 millionfor the three months ended June 30, 2024, a decrease of $3.3 million, or 4%. Segment operating margin decreased 179 basis points in the three months ended June 29, 2025, as compared to the three months ended June 30, 2024, primarily due to increased tariffs, product mix shift, unfavorable changes in foreign exchange rates, and continued investments in new product development and digital capabilities partially offset by pricing actions.

Previous wording

During the three months ended March 30, 2025 and March 31, 2024, we recorded a gain (loss) on sale of $0.8 million and $(1.7) million, respectively, and a provision for income taxes of $0.2 million and $1.0 million, respectively, related to the sale of the Business.

Current wording

During the three months ended June 29, 2025 and June 30, 2024, we recorded a gain (loss) on sale of $1.1 million and $(23.7) million, respectively, and a provision for income taxes of $0.2 million and $6.5 million, respectively, related to the sale of the Business. During the six months ended June 29, 2025 and June 30, 2024, we recorded a gain (loss) on sale of $0.3 million and $(25.5) million, respectively, and a provision for income taxes of $0.4 million and $5.5 million, respectively, related to the sale of the Business.

Previous wording

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.

Current wording

At June 29, 2025, we had cash and cash equivalents of$991.8 million, of which $485.3 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.

Previous wording

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.

Current wording

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 June 29, 2025, the remaining balance related to the Brand Fee is $37.5 million, which is expected to be received inthe second half of fiscal year 2025.

Previous wording

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.

Current wording

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 June 29, 2025,$414.5 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.

Previous wording

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.

Current wording

As of June 29, 2025, we may have to pay contingent consideration related to acquisitions with open contingency periods of up to $80.0 million. As of June 29, 2025, we have recorded contingent consideration obligations of $21.1 million, of which $6.9 million was recorded in accrued expenses and other current liabilities, and $14.2 million was recorded in long-term liabilities. The maximum earnout period for acquisitions with open contingency periods is 6.4 years from June 29, 2025, and the remaining weighted average expected earnout period at June 29, 2025 was 3.9 years.

Previous wording

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.

Current wording

Operating Activities. Net cash provided by operating activities of ourcontinuing operations was $268.4 million for the six months ended June 29, 2025, as compared to $332.5 million for the six months ended June 30, 2024, a decrease of $64.1 million, primarilydue to timing of collections and payments, increased variable incentive compensation and tax payments during the six months ended June 29, 2025 as compared to the six months ended June 30, 2024. The cash provided by operating activities for the six months ended June 29, 2025 was principally a result of income from continuing operations of $96.9 million, adjustments for non-cash charges aggregating to $233.7 million, including depreciation and amortization of $200.2 million, and a net cash decrease in working capital of $62.2 million. The cash provided by operating activities for the six months ended June 30, 2024 was principally a result of income from continuing operations of $101.3 million, and adjustments for non-cash charges aggregating to $261.6 million, including depreciation and amortization of $215.1 million, and a net cash decrease in working capital of $30.4 million.

Previous wording

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.

Current wording

Investing Activities. Net cash used in investing activitiesof our continuing operationswas $34.6 million for the six months ended June 29, 2025, as compared to $44.2 million for the six months ended June 30, 2024, a decrease of $9.6 million. During the six months ended June 29, 2025, net cash used for capital expenditures was $34.9 million, as compared to $39.9 million for the six months ended June 30, 2024. The cash used in investing activities during the six months ended June 29, 2025 was partially offset by $0.2 million proceeds from disposition of businesses and assets. During the six months ended June 30, 2024, purchases of investments and notes receivables amounted to $4.3 million.

Previous wording

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.

Current wording

Financing Activities. Net cash used in financing activities was $466.1 million for the six months ended June 29, 2025, as compared to $61.5 million for the six months ended June 30, 2024, an increase of $404.6 million. During the six months ended June 29, 2025, we repurchased shares of our common stock for a total cost of $447.5 million, as compared to $30.3 million in the prior year period. We paid $16.7 million in dividends for the six months ended June 29, 2025, as compared to $17.3 million for the six months ended June 30, 2024. During the six months ended June 29, 2025, we made net payments of$2.6 millionon debts, as compared to $11.2 million during the six months ended June 30, 2024. We paid $2.0 million for acquisition-related contingent consideration during the six months ended June 29, 2025, as compared to $8.7 million in the prior year period. The cash used in financing activities during the six months ended June 29, 2025 was partially offset by proceeds from the issuance of common stock under our stock plans of $2.6 million during the six months ended June 29, 2025, as compared to $6.0 million for the six months ended June 30, 2024.

Previous wording

Our Board declared a regular quarterly cash dividend of $0.07 per share forthe first quarterof fiscal year 2025 and in each quarter of fiscal year 2024. At March 30, 2025, we had accrued $8.2 million for dividends declared on January 23, 2025 for the first quarter of fiscal year 2025 that will be paid in May 2025. On April 24, 2025, we announced that our Board had declared a quarterly dividend of $0.07 per share for the second quarter of fiscal year 2025 that will be payable in August 2025. In the future, our Board may determine to reduce or eliminate our common stock dividend in order to fund investments for growth, repurchase shares or conserve capital resources.

Current wording

Our Board declared a regular quarterly cash dividend of $0.07 per share for the first two quarters of fiscal year 2025 and in each quarter of fiscal year 2024. At June 29, 2025, we had accrued $8.1 million for dividends declared on April 24, 2025 for the second quarter of fiscal year 2025 that will be paid in August 2025. On July 24, 2025, we announced that our Board had declared a quarterly dividend of $0.07 per share for the third quarter of fiscal year 2025 that will be payable in November 2025. In the future, our Board may determine to reduce or eliminate our common stock dividend in order to fund investments for growth, repurchase shares or conserve capital resources.

Previous wording

See Note 1, Nature of Operations and Accounting Policies, to our audited consolidated financial statements in the 2024 Form 10-K for a summary of recently adopted new accounting pronouncements during the fiscal year ended December 29, 2024. We have not adopted any new accounting pronouncements during the three months ended March 30, 2025.

Current wording

See Note 1, Nature of Operations and Accounting Policies, to our audited consolidated financial statements in the 2024 Form 10-K for a summary of recently adopted new accounting pronouncements during the fiscal year ended December 29, 2024. We have not adopted any new accounting pronouncements during thesix months ended June 29, 2025.