REVVITY, INC.

Revenue

Revenue for the three months ended October 4, 2026 was $728.9 million, as compared to $698.9 million for the three months ended September 28, 2025, an increase of $30.0 million, or 4%. 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 $379.6 million for the three months ended October 4, 2026, as compared to $342.8 million for the three months ended September 28, 2025, an increase of $36.8 million, or 11%, driven by an increase of $21.6 million in Life Sciences Solutions revenue and an increase of $15.2 million in Software revenue. Diagnostics segment revenue was $349.3 million for the three months ended October 4, 2026, as compared to $356.1 million for the three months ended September 28, 2025, a decrease of $6.8 million, or 2%, due to a decrease of $10.5 million in Immunodiagnostics revenue, partially offset by an increase of $3.7 million in Reproductive Health revenue.

Revenue for the nine months ended October 4, 2026 was $2,169.7 million, as compared to $2,084.0 million for the nine months ended September 28, 2025, an increase of $85.7 million, or 4%. 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 $1,100.1 million for the nine months ended October 4, 2026, as compared to $1,049.1 million for the nine months ended September 28, 2025, an increase of $51.0 million, or 5%, driven by an increase of $38.1 million in Life Sciences Solutions revenue and an increase of $12.9 million in Software revenue. Diagnostics segment revenue was $1,069.6 million for the nine months ended October 4, 2026, as compared to $1,034.9 million for the nine months ended September 28, 2025, an increase of $34.7 million, or 3%, due to an increase of $45.0 million in Reproductive Health revenue, partially offset by a decrease of $10.3 million in Immunodiagnostics revenue. Both the Life Sciences and the Diagnostics segments benefited from an extra fiscal week for the nine months ended October 4, 2026.

Cost of Revenue

Cost of revenue for the three months ended October 4, 2026 was $310.3 million, as compared to $324.3 million for the three months ended September 28, 2025, a decrease of $14.0 million, or 4%. The analysis in the remainder of this paragraph includes the effect of foreign exchange rate fluctuations. As a percentage of revenue, cost of revenue decreased to 42.6% for the three months ended October 4, 2026, from 46.4% for the three months ended September 28, 2025, resulting in an increase in gross margin of 380 basis points to 57.4% for the three months ended October 4, 2026, from 53.6% for the three months ended September 28, 2025, primarily due to favorable product mix shift and restructuring benefit. Amortization of intangible assets was $34.6 million for the three months ended October 4, 2026, as compared to $35.3 million for the three months ended September 28, 2025.

Cost of revenue for the nine months ended October 4, 2026 was $946.6 million, as compared to $941.3 million for the nine months ended September 28, 2025, an increase of $5.3 million, or 1%. The analysis in the remainder of this paragraph includes the effect of foreign exchange rate fluctuations. As a percentage of revenue, cost of revenue decreased to 43.6% for the nine months ended October 4, 2026, from 45.2% for the nine months ended September 28, 2025, resulting in an increase in gross margin of 150 basis points to 56.4% for the nine months ended October 4, 2026, from 54.8% for the nine months ended September 28, 2025, primarily due to tariffs refunds, favorable product mix shift, and restructuring benefit. Amortization of intangible assets was $104.3 million for the nine months ended October 4, 2026, as compared to $106.2 million for the nine months ended September 28, 2025.

On February 20, 2026, the United States Supreme Court ruled that the International Emergency Economic Powers Act does not authorize the imposition of tariffs. In April 2026, the U.S. Customs and Border Protection (CBP) announced a new administrative process for importers to utilize in seeking to obtain refunds. Through the established CBP refund process, the Company applied for $20.2 million of refunds. Refunds have been recorded in income upon receipt of payment, and no refund receivable has been recorded as of October 4, 2026.

Selling, General and Administrative Expenses

Selling, general and administrative expenses for the three months ended October 4, 2026 were $275.3 million, as compared to $241.9 million for the three months ended September 28, 2025, an increase of $33.4 million, or 14%. The analysis in the remainder of this paragraph includes the effect of foreign exchange rate fluctuations. As a percentage of revenue, selling, general and administrative expenses increased and were 37.8% for the three months ended October 4, 2026, as compared to 34.6% for the three months ended September 28, 2025. Amortization of intangible assets increased and was $50.1 million for the three months ended October 4, 2026, as compared to $48.7 million for the three months ended September 28, 2025. Restructuring and other costs increased and were $28.4 million for the three months ended October 4, 2026, as compared to $9.9 million for the three months ended September 28, 2025. Restructuring and other costs in the third quarter of fiscal year 2026 primarily consisted of charges associated with workforce reductions and facility consolidations in an effort to streamline operations, other exit costs, abandonments or associated asset write-downs, costs of terminating certain lease agreements or contracts, as well as costs associated with relocating facilities. In the third quarter of fiscal year 2026, severance actions associated with facility consolidations and cost reduction measures affected approximately 2% of our workforce. The above increases were partially offset by a decrease in purchase accounting adjustments, which were $0.1 million for the three months ended October 4, 2026, and primarily consisted of a change in contingent consideration, as compared to $0.2 million for the three months ended September 28, 2025. Acquisition and divestiture-related expenses, which primarily consisted of legal and integration costs, were $0.1 million for the three months ended October 4, 2026, as compared to $0.3 million for the three months ended September 28, 2025. Significant litigation matters and settlements decreased, and were $0.2 million for the three months ended October 4, 2026, as compared to $0.8 million for the three months ended September 28, 2025. Transformation costs were $0.6 million for the three months ended October 4, 2026, as compared to $5.1 million for the three months ended September 28, 2025. Excluding the items noted above, selling, general and administrative expenses increased due to employee incentive compensation.

Selling, general and administrative expenses for the nine months ended October 4, 2026 were $807.8 million, as compared to $740.2 million for the nine months ended September 28, 2025, an increase of $67.6 million, or 9%. The analysis in the remainder of this paragraph includes the effect of foreign exchange rate fluctuations. As a percentage of revenue, selling, general and administrative expenses increased and were 37.2% for the nine months ended October 4, 2026, as compared to 35.5% for the nine months ended September 28, 2025. Amortization of intangible assets increased and was $150.3 million for the nine months ended October 4, 2026, as compared to $145.9 million for the nine months ended September 28, 2025. Restructuring and other costs increased and were $74.5 million for the nine months ended October 4, 2026, as compared to $24.4 million for the nine months ended September 28, 2025. Restructuring and other costs in the first three quarters of fiscal year 2026 primarily consisted of charges associated with workforce reductions and facility consolidations in an effort to streamline operations, other exit costs, abandonments or associated asset write-downs, costs of terminating certain lease agreements or contracts, as well as costs associated with relocating facilities. For the nine months ended October 4, 2026, severance actions associated with facility consolidations and cost reduction measures affected approximately 7% of our workforce. Costs for significant environmental matters were a net credit of $1.2 million for the nine months ended September 28, 2025. The above increases were also partially offset by a decrease in significant litigation matters and settlements, which was $0.3 million for the nine months ended October 4, 2026, as compared to $12.5 million for the nine months ended September 28, 2025. Disposition of businesses and assets, net were a net credit of $5.1 million for the nine months ended October 4, 2026. Acquisition and divestiture-related expenses, which primarily consisted of legal and integration costs, decreased and were $0.5 million for the nine months ended October 4, 2026, as compared to $3.0 million for the nine months ended September 28, 2025. Transformation costs were $0.7 million for the nine months ended October 4, 2026, as compared to $6.2 million for the nine months ended September 28, 2025. Purchase accounting adjustments, which primarily consisted of a change in contingent consideration, was down slightly at $1.7 million for the nine months ended October 4, 2026, as compared to $1.8 million for the nine months ended September 28, 2025. Excluding the items noted above, selling, general and administrative expenses increased due to the extra fiscal week in the first quarter as compared to the same period in the prior year, digital investments, and employee incentive compensation.

Research and Development Expenses

Research and development expenses for the three months ended October 4, 2026 were $48.1 million, as compared to $50.8 million for the three months ended September 28, 2025, a decrease of $2.7 million, or 5%. The analysis in the remainder of this paragraph includes the effect of foreign exchange rate fluctuations. As a percentage of revenue, research and development expenses decreased and were 6.6% for the three months ended October 4, 2026, as compared to 7.3% for the three months ended September 28, 2025. The decrease in research and development expenses was primarily driven by cost containment initiatives.

Research and development expenses for the nine months ended October 4, 2026 were $155.0 million, as compared to $157.7 million for the nine months ended September 28, 2025, a decrease of $2.7 million, or 2%. The analysis in the remainder of this paragraph includes the effect of foreign exchange rate fluctuations. As a percentage of revenue, research and development expenses decreased and were 7.1% for the nine months ended October 4, 2026, as compared to 7.6% for the nine months ended September 28, 2025. The decrease in research and development expenses was primarily driven by cost containment initiatives, partially offset by increased costs due to the extra fiscal week in the nine months ended October 4, 2026.

Interest and Other Expense, Net

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

The decrease in interest income for the three months ended October 4, 2026 as compared to the three months ended September 28, 2025 was primarily due to lower cash balances. The decrease in interest expense for the three months ended October 4, 2026 as compared to the three months ended September 28, 2025 was primarily due to the repayment of the 2026 Notes in July 2026.

The decrease in interest income for the nine months ended October 4, 2026 as compared to the nine months ended September 28, 2025 was primarily due to lower cash balances. Interest expense was lower for the nine months ended October 4, 2026 as compared to the same period in the prior year primarily due to the repayment of the 2026 Notes in July 2026, partially offset by higher interest expense due to the extra fiscal week in the first quarter of 2026 as compared to the same period in the prior year.

Provision for Income Taxes

The provision for income taxes from continuing operations was $15.1 million for the three months ended October 4, 2026, as compared to $8.5 million for the three months ended September 28, 2025. The provision for income taxes from continuing operations was $34.2 million for the nine months ended October 4, 2026, as compared to $32.6 million for the nine months ended September 28, 2025.

The effective tax rate from continuing operations was 19.4% and 17.9% for the three and nine months ended October 4, 2026, as compared to 15.2% and 18.5% for the three and nine months ended September 28, 2025. The effective tax rate for the three months ended October 4, 2026 was higher as compared to the three months ended September 28, 2025 primarily due to a shift in the geographical mix of earnings toward jurisdictions with higher statutory tax rates. The effective tax rate for the nine months ended October 4, 2026 was lower as compared to the nine months ended September 28, 2025 primarily driven by a discrete tax benefit of $4.3 million related to U.S. state taxes recognized in fiscal year 2026. We expect that the effective tax rate on continuing operations, before discrete items, will be approximately 20% during fiscal year 2026.