Revvity(RVTY) - 2026 Q2 - Quarterly Results

Financial Performance Summary This section summarizes Revvity's Q2 2025 financial performance, including key metrics and management's strategic commentary Q2 2025 Overall Performance Revvity reported Q2 2025 revenue of $720 million with 4% reported growth, while GAAP EPS increased to $0.46 and adjusted EPS declined to $1.18, alongside a contracted adjusted operating margin Q2 2025 Key Financial Metrics | Metric | Q2 2025 | Q2 2024 | Change (YoY) | | :--- | :--- | :--- | :--- | | Revenue | $720 million | $692 million | +4% Reported, +3% Organic | | GAAP EPS | $0.46 | $0.45 | +2.2% | | Adjusted EPS | $1.18 | $1.22 | -3.3% | | GAAP Operating Margin | 12.6% | 12.4% | +20 bps | | Adjusted Operating Margin | 26.6% | 28.8% | -220 bps | Management Commentary The CEO noted that consistent execution and transformation efforts enabled the company to exceed expectations and position for long-term value creation in a challenging market - CEO Prahlad Singh stated that the company's transformation and consistent execution enabled it to exceed expectations in an evolving market environment[4] - The company is confident in its strong innovation pipeline, high-performing teams, and disciplined operational focus to deliver long-term shareholder value[4] Financial Overview by Reporting Segment This section details the financial performance of Revvity's Life Sciences and Diagnostics segments for Q2 2025, including revenue and operating margins Life Sciences The Life Sciences segment achieved $366 million in Q2 2025 revenue with 5% reported growth, though its adjusted operating margin decreased to 31.6% Life Sciences Q2 2025 Performance | Metric | Q2 2025 | Q2 2024 | Change (YoY) | | :--- | :--- | :--- | :--- | | Revenue | $366 million | $349 million | +5% Reported, +4% Organic | | Adjusted Operating Income | $115 million | $118 million | -2.5% | | Adjusted Operating Margin | 31.6% | 33.7% | -210 bps | Diagnostics The Diagnostics segment reported Q2 2025 revenue of $354 million with 3% reported growth, experiencing declines in both adjusted operating income and margin to 25.2% Diagnostics Q2 2025 Performance | Metric | Q2 2025 | Q2 2024 | Change (YoY) | | :--- | :--- | :--- | :--- | | Revenue | $354 million | $343 million | +3% Reported, +2% Organic | | Adjusted Operating Income | $89 million | $93 million | -4.3% | | Adjusted Operating Margin | 25.2% | 27.0% | -180 bps | Full Year 2025 Guidance This section outlines Revvity's updated financial guidance for the full year 2025, including revenue and adjusted EPS projections Updated Outlook Revvity raised its full-year 2025 revenue guidance to $2.84-$2.88 billion, projecting 2-4% organic growth and an adjusted EPS range of $4.85-$4.95 Full Year 2025 Guidance | Metric | Updated Guidance | | :--- | :--- | | Revenue | $2.84 - $2.88 billion | | Organic Growth | 2% - 4% | | Adjusted EPS | $4.85 - $4.95 | - The guidance for adjusted EPS and organic growth is provided on a non-GAAP basis and cannot be reconciled to GAAP measures without unreasonable effort[10] Financial Statements (GAAP) This section presents Revvity's condensed consolidated GAAP financial statements, including income statements, balance sheets, and cash flow statements Condensed Consolidated Income Statements Revvity's Q2 2025 revenue increased to $720.3 million, with operating income growing to $90.8 million, while net income remained flat and diluted EPS decreased to $0.47 Q2 Income Statement Highlights (in thousands) | Account | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | Revenue | $720,284 | $691,685 | | Operating income from continuing operations | $90,760 | $85,724 | | Income from continuing operations | $55,222 | $72,606 | | Net income | $53,948 | $55,360 | | Diluted EPS (Net income) | $0.46 | $0.45 | Condensed Consolidated Balance Sheets As of June 29, 2025, Revvity's total assets slightly decreased to $12.36 billion, with cash declining to $991.8 million, while total liabilities increased and stockholders' equity decreased Balance Sheet Summary (in thousands) | Account | June 29, 2025 | Dec 29, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $991,849 | $1,163,396 | | Total current assets | $2,236,183 | $2,349,608 | | Total assets | $12,362,789 | $12,392,478 | | Total liabilities | $4,806,621 | $4,725,604 | | Total stockholders' equity | $7,556,168 | $7,666,874 | Consolidated Statements of Cash Flows For the six months ended June 29, 2025, net cash from operating activities decreased to $262.5 million, with significant cash used in financing activities, primarily for common stock purchases Six Months Cash Flow Summary (in thousands) | Activity | Six Months Ended June 29, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $262,473 | $306,184 | | Net cash (used in) provided by investing activities | ($15,871) | $103,310 | | Net cash used in financing activities | ($466,139) | ($61,508) | | Net (decrease) increase in cash | ($171,462) | $335,055 | - The company used $447.5 million for purchases of common stock in the first six months of 2025, a significant increase from $30.3 million in the same period of 2024[27] Non-GAAP Financial Measures and Reconciliations This section provides reconciliations of GAAP to non-GAAP financial measures and explains the rationale for their use in assessing Revvity's performance Reconciliation of GAAP to Non-GAAP Measures Detailed reconciliations show Q2 2025 GAAP EPS of $0.47 adjusted to $1.18, and reported revenue growth of 4% adjusted to 3% organic growth after accounting for foreign exchange Q2 2025 GAAP to Adjusted EPS Reconciliation | Description | Per Share Amount | | :--- | :--- | | GAAP EPS from continuing operations | $0.47 | | Amortization of intangible assets | $0.73 | | Restructuring and other, net | $0.10 | | Tax on above items | ($0.16) | | Other adjustments | $0.04 | | Adjusted EPS from continuing operations | $1.18 | Q2 2025 Organic Revenue Growth Reconciliation | Description | Total Company | Life Sciences | Diagnostics | | :--- | :--- | :--- | :--- | | Reported Revenue Growth | 4% | 5% | 3% | | Less: Effect of foreign exchange | 1% | 1% | 1% | | Organic Revenue Growth | 3% | 4% | 2% | Explanation of Non-GAAP Financial Measures Revvity utilizes non-GAAP measures like organic revenue and adjusted EPS to clarify operational performance by excluding non-recurring or non-cash items that may obscure underlying business trends - Management believes non-GAAP measures help investors understand financial trends by excluding certain non-cash, non-recurring, or other items[33] - Key non-GAAP terms defined include "organic revenue" (excluding currency and M&A impacts), "adjusted operating income" (excluding amortization, restructuring, etc.), and "adjusted EPS" (GAAP EPS excluding a similar set of items)[34][39][42] - These non-GAAP measures are used internally for performance evaluation, benchmarking, and determining bonus payments[47] Other Information This section includes important disclosures regarding forward-looking statements and the various risk factors that could impact Revvity's future performance Factors Affecting Future Performance (Forward-Looking Statements) The press release contains forward-looking statements and outlines numerous risk factors, including market conditions, global economic fluctuations, and competition, that could impact future financial results - The company identifies forward-looking statements related to future earnings, revenue growth, and business development[13] - Key risk factors include market conditions, global economic and political environments, product innovation timeliness, M&A execution, competition, supply chain disruptions, and cybersecurity threats[13]