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Revvity
RVTY
#1937
Rank
C$14.56 B
Marketcap
๐Ÿ‡บ๐Ÿ‡ธ United States
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โš•๏ธ Diagnostics and Testing๐Ÿงฌ Biotech
Categories
  1. Revvity
  2. Quarterly Reports (10-Q)
  3. Submitted on 2026-05-12

Revvity - 10-Q quarterly report FY


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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________________ 
FORM 10-Q
_______________________________________ 
(Mark One)
☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended April 5, 2026
or
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ____________ to ____________
Commission File Number 001-5075
_______________________________________ 
Revvity, Inc.
(Exact name of Registrant as specified in its Charter)
_______________________________________  
Massachusetts 04-2052042
(State or other jurisdiction of
incorporation or organization)		 (I.R.S. Employer
Identification No.)
77 4th Avenue,Waltham,Massachusetts02451
(Address of principal executive offices)(Zip Code)
(781) 663-6900
(Registrant’s telephone number, including area code)
______________________________________ 

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol (s)Name of each exchange on which registered
Common stock, $1 par value per shareRVTYThe New York Stock Exchange
1.875% Notes due 2026RVTY 26The New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☑    No  ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes  ☑    No  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act. 

Large accelerated filer☑Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐
If an emerging growth company, indicate by check mark whether the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ☐    No  ☑
As of May 8, 2026, there were outstanding 111,559,773 shares of common stock, $1 par value per share.

TABLE OF CONTENTS
 
  Page
PART I. FINANCIAL INFORMATION
Item 1.
4
4
5
6
7
8
10
Item 2.
23
23
24
24
26
26
28
28
Item 3.
28
Item 4.
29
PART II. OTHER INFORMATION
Item 1.
30
Item 1A.
30
Item 2.
39
Item 5.
Other Information
39
Item 6.
40
41


3
PART I. FINANCIAL INFORMATION

Item 1.Unaudited Financial Statements

REVVITY, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited) 
 Three Months Ended
 April 5,
2026		March 30,
2025
 (In thousands, except per share data)
Product revenue$581,458 $562,680 
Service revenue129,660 102,082 
Total revenue711,118 664,762 
Cost of product revenue273,320 250,155 
Cost of service revenue50,143 39,061 
Total cost of revenue323,463 289,216 
Selling, general and administrative expenses253,882 249,719 
Research and development expenses57,887 53,597 
Operating income from continuing operations75,886 72,230 
Interest and other expense, net25,894 19,848 
Income from continuing operations before income taxes49,992 52,382 
Provision for income taxes9,099 10,713 
Income from continuing operations40,893 41,669 
(Loss) income from discontinued operations(175)568 
Net income$40,718 $42,237 
Basic earnings per share:
Income from continuing operations$0.37 $0.35 
(Loss) income from discontinued operations(0.00)0.00 
Net income$0.36 $0.35 
Diluted earnings per share:
Income from continuing operations$0.37 $0.35 
(Loss) income from discontinued operations(0.00)0.00 
Net income$0.36 $0.35 
Weighted average shares of common stock outstanding:
Basic111,852 120,137 
Diluted111,876 120,233 
The accompanying notes are an integral part of these condensed consolidated financial statements.
4
REVVITY, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(Unaudited)
 
Three Months Ended
April 5,
2026		March 30,
2025
(In thousands)
Net income$40,718 $42,237 
Other comprehensive (loss) income:
Foreign currency translation adjustments, net of income taxes(32,492)79,654 
Unrecognized prior service credits, net of income taxes798 — 
Unrealized gain on securities, net of income taxes273 — 
Other comprehensive (loss) income(31,421)79,654 
Comprehensive income$9,297 $121,891 









The accompanying notes are an integral part of these condensed consolidated financial statements.
5
REVVITY, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
 
April 5,
2026		December 28,
2025
 (In thousands, except share and per share data)
Current assets:
Cash and cash equivalents$860,320 $919,860 
Accounts receivable, net691,380 744,671 
Inventories, net387,505 379,497 
Other current assets189,112 195,719 
Total current assets2,128,317 2,239,747 
Property, plant and equipment, net465,636 479,249 
Operating lease right-of-use assets, net163,254 165,439 
Intangible assets, net2,306,534 2,347,003 
Goodwill6,610,750 6,613,493 
Other assets, net322,099 323,480 
Total assets$11,996,590 $12,168,411 
Current liabilities:
Current portion of long-term debt$575,831 $588,828 
Accounts payable169,679 185,464 
Accrued expenses and other current liabilities493,134 556,954 
Total current liabilities1,238,644 1,331,246 
Long-term debt2,632,072 2,631,236 
Deferred taxes and other long-term liabilities800,859 807,461 
Operating lease liabilities142,276 148,108 
Total liabilities4,813,851 4,918,051 
Commitments and contingencies (see Note 14)
Stockholders’ equity:
Preferred stock—$1 par value per share, authorized 1,000,000 shares; none issued or outstanding— — 
Common stock—$1 par value per share, authorized 300,000,000 shares; issued and outstanding 111,629,000 shares and 112,281,000 shares at April 5, 2026 and December 28, 2025, respectively111,629 112,281 
Capital in excess of par value1,237,444 1,305,900 
Retained earnings6,087,222 6,054,314 
Accumulated other comprehensive loss(253,556)(222,135)
Total stockholders’ equity7,182,739 7,250,360 
Total liabilities and stockholders’ equity$11,996,590 $12,168,411 
The accompanying notes are an integral part of these condensed consolidated financial statements.
6
REVVITY, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(Unaudited)

 
For the Three-Month Period Ended April 5, 2026
Common
Stock
Shares		Common
Stock
Amount		Capital in
Excess of
Par Value		Retained
Earnings		Accumulated
Other
Comprehensive
Loss		Total
Stockholders’
Equity
(In thousands)
Balance, December 28, 2025112,281 $112,281 $1,305,900 $6,054,314 $(222,135)$7,250,360 
Net income— — — 40,718 — 40,718 
Other comprehensive loss— — — — (31,421)(31,421)
Dividends ($0.07 per common share, see Note 10)— — — (7,810)— (7,810)
Exercise of employee stock options60 60 5,381 — — 5,441 
Issuance of common stock for employee stock purchase plans13 13 1,216 — — 1,229 
Purchases of common stock(837)(837)(83,700)— — (84,537)
Issuance of common stock for long-term incentive program112 112 5,758 — — 5,870 
Stock compensation— — 2,889 — — 2,889 
Balance, April 5, 2026111,629 $111,629 $1,237,444 $6,087,222 $(253,556)$7,182,739 

For the Three-Month Period Ended March 30, 2025
Common
Stock
Shares		Common
Stock
Amount		Capital in
Excess of
Par Value		Retained
Earnings		Accumulated
Other
Comprehensive
Loss		Total
Stockholders’
Equity
(In thousands)
Balance, December 29, 2024120,646 $120,646 $2,097,110 $5,845,223 $(396,105)$7,666,874 
Net income— — — 42,237 — 42,237 
Other comprehensive income— — — — 79,654 79,654 
Dividends ($0.07 per common share, see Note 10)— — — (8,243)— (8,243)
Exercise of employee stock options32 32 2,600 — — 2,632 
Issuance of common stock for employee stock purchase plans12 12 1,260 — — 1,272 
Purchases of common stock(1,356)(1,356)(153,631)— — (154,987)
Issuance of common stock for long-term incentive program75 75 5,524 — — 5,599 
Stock compensation— — 2,092 — — 2,092 
Balance, March 30, 2025119,409 $119,409 $1,954,955 $5,879,217 $(316,451)$7,637,130 

 
The accompanying notes are an integral part of these condensed consolidated financial statements.
7
REVVITY, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
 Three Months Ended
 April 5,
2026		March 30,
2025
 (In thousands)
Operating activities:
Net income$40,718 $42,237 
Loss (income) from discontinued operations, net of income taxes175 (568)
Income from continuing operations40,893 41,669 
Adjustments to reconcile income from continuing operations to net cash provided by continuing operations:
Stock-based compensation8,715 7,731 
Restructuring and other costs10,675 3,239 
Depreciation and amortization105,056 97,422 
Change in fair value of contingent consideration(99)(625)
Amortization of deferred debt financing costs and accretion of discounts1,139 1,102 
Change in fair value of investments4,204 (3,073)
Unrealized foreign exchange loss (gain)100 (66)
Gain on disposition of businesses and assets, net(5,074)— 
Changes in assets and liabilities which provided (used) cash:
Accounts receivable, net61,547 18,140 
Inventories(12,838)(5,486)
Accounts payable(13,744)8,854 
Accrued expenses and other(74,687)(34,810)
Net cash provided by operating activities of continuing operations125,887 134,097 
Net cash used in operating activities of discontinued operations(10,657)(5,942)
Net cash provided by operating activities115,230 128,155 
Investing activities:
Capital expenditures(19,775)(15,982)
Purchases of investments and notes receivables(1,055)— 
Proceeds from investments and notes receivables677 — 
Proceeds from disposition of property, plant and equipment9,003 — 
Proceeds from disposition of businesses and assets158 229 
Cash paid for acquisitions, net of cash acquired(67,280)— 
Net cash used in investing activities of continuing operations(78,272)(15,753)
Net cash provided by investing activities of discontinued operations— 9,375 
Net cash used in investing activities(78,272)(6,378)
Financing activities:
Payments of debt financing issuance costs— (2,402)
Payments of other credit facilities— (50)
Payments for acquisition-related contingent consideration— (1,817)
Proceeds from issuance of common stock under stock plans5,441 2,632 
Purchases of common stock(86,496)(153,594)
Dividends paid(7,840)(8,433)
Net cash used in financing activities(88,895)(163,664)
Effect of exchange rate changes on cash, cash equivalents and restricted cash(7,627)16,122 
8
 Three Months Ended
 April 5,
2026		March 30,
2025
 (In thousands)
Net decrease in cash, cash equivalents and restricted cash(59,564)(25,765)
Cash, cash equivalents and restricted cash at beginning of period921,030 1,164,452 
Cash, cash equivalents and restricted cash at end of period$861,466 $1,138,687 
Supplemental disclosures of cash flow information
Reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total shown in the condensed consolidated statements of cash flows:
Cash and cash equivalents$860,320 $1,137,620 
Restricted cash included in other current assets428 1,067 
Restricted cash included in other assets718 — 
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows$861,466 $1,138,687 

The accompanying notes are an integral part of these condensed consolidated financial statements.
9
REVVITY, INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)



Note 1: Basis of Presentation
The condensed consolidated financial statements included herein have been prepared by Revvity, Inc. (the “Company”), in accordance with accounting principles generally accepted in the United States of America (the “U.S.” or the “United States”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information in the footnote disclosures of the financial statements has been condensed or omitted where it substantially duplicates information provided in the Company’s latest audited consolidated financial statements, in accordance with the rules and regulations of the SEC. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes included in its Annual Report on Form 10-K for the fiscal year ended December 28, 2025, filed with the SEC (the “2025 Form 10-K”). The balance sheet amounts at December 28, 2025 in this report were derived from the Company’s audited 2025 consolidated financial statements included in the 2025 Form 10-K. The condensed consolidated financial statements reflect all adjustments that, in the opinion of management, are necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the periods indicated. The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amounts and classifications of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The results of operations for the three months ended April 5, 2026 and March 30, 2025, respectively, are not necessarily indicative of the results for the entire fiscal year or any future period.
The Company’s fiscal year ends on the Sunday nearest December 31. The Company reports fiscal years under a 52/53 week format and as a result, certain fiscal years will contain 53 weeks. The fiscal year ending January 3, 2027 (“fiscal year 2026”) will include 53 weeks, and the fiscal year ended December 28, 2025 (“fiscal year 2025”) included 52 weeks.
Accounting Standards Not Yet Adopted: In December 2025, the FASB issued Accounting Standards Update 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities (“ASU 2025-10”), which establishes authoritative guidance on the recognition, measurement, presentation, and disclosure of government grants. Under ASU 2025-10, government grants are recognized when it is probable that the entity will both comply with the conditions of the grant and the grant will be received. ASU 2025-10 provides specific accounting models for grants related to assets and grants related to income, including options to recognize government grants as deferred income or as a reduction of the asset’s cost basis. ASU 2025-10 also requires enhanced disclosures regarding the nature of government grants, significant terms and conditions, accounting policies applied, and amounts recognized in the financial statements. ASU 2025-10 is effective for fiscal years beginning after December 15, 2028, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-10 but does not expect the impact of such adoption to be material.
In December 2025, the FASB issued Accounting Standards Update 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements (“ASU 2025-11”), which clarifies the guidance in Topic 270 to improve the consistency of interim financial reporting. ASU 2025-11 provides a comprehensive list of required interim disclosures and introduces a disclosure principle requiring entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. ASU 2025-11 is effective for fiscal years beginning after December 15, 2027, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-11.
In September 2025, the FASB issued Accounting Standards Update 2025-06, Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”). ASU 2025-06 amends certain aspects of the accounting for and disclosure of software costs. The amendments in this update are effective for annual reporting periods beginning after December 15, 2027, and interim periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The guidance may be applied prospectively, retrospectively, or via a modified prospective transition method. The Company is in the process of determining the impact of this guidance on its financial statements and disclosures.
10
In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2024-03, Disaggregation of Income Statement Expenses (“ASU 2024-03”). ASU 2024-03 will require public entities to disclose disaggregated information about specific natural expense categories underlying certain income statement expense line items. Such disclosures are required on an annual and interim basis in a tabular presentation in the footnotes to the financial statements. In addition, ASU 2024-03 requires public entities to disclose selling expenses on an annual and interim basis. The guidance is effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is in the process of determining the impact of this guidance on its financial statements and disclosures. This accounting standard will increase disclosures in the Company’s annual and interim reporting when adopted.

Note 2: Revenue

Disaggregation of revenue
Disaggregated revenue by primary geographical markets and major goods and service lines are as follows:
Reportable Segments
Three Months Ended
April 5, 2026March 30, 2025
Life SciencesDiagnosticsTotalLife SciencesDiagnosticsTotal
(In thousands)
Primary geographical markets
Americas$185,551 $130,441 $315,992 $184,279 $120,350 $304,629 
Europe91,695 131,351 223,046 76,022 105,770 181,792 
Asia84,599 87,481 172,080 80,094 98,247 178,341 
$361,845 $349,273 $711,118 $340,395 $324,367 $664,762 
Major goods/service lines
Life Sciences Solutions$299,996 $— $299,996 $286,453 $— $286,453 
Software61,849 — 61,849 53,942 — 53,942 
Immunodiagnostics— 201,831 201,831 — 197,562 197,562 
Reproductive Health— 147,442 147,442 — 126,805 126,805 
$361,845 $349,273 $711,118 $340,395 $324,367 $664,762 

Contract Balances
Unbilled receivable and Contract assets: The timing of revenue recognition may differ from the timing of customer billing. When revenue is recognized prior to billing and the right to the amount due from customers is conditioned only on the passage of time, the Company records an unbilled receivable on its consolidated balance sheets. Unbilled receivables totaled $106.7 million at April 5, 2026, of which $74.4 million was included in “Accounts receivable, net” and $32.3 million was included in “Other assets, net” in the condensed consolidated balance sheet. Unbilled receivables totaled $105.6 million at December 28, 2025, of which $72.4 million was included in “Accounts receivable, net” and $33.2 million was included in “Other assets, net” in the condensed consolidated balance sheet. Unbilled receivables primarily related to software revenue.The Company had no material contract assets as of April 5, 2026 and December 28, 2025.
11
Deferred revenue and Customer deposits: Deferred revenue is recorded when revenue is recognized subsequent to customer invoicing. Deferred revenue is classified as either current in “Accrued expenses and other current liabilities” or as long-term in “Deferred taxes and other long-term liabilities” in the condensed consolidated balance sheets based on the timing of when the Company expects to recognize revenue. The deferred revenue balance is primarily related to the Company’s software as a service offerings, maintenance contracts and prepaid storage arrangements. Deferred revenue totaled $238.5 million at April 5, 2026, of which $171.7 million was included in “Accrued expenses and other current liabilities” and $66.8 million was included in “Deferred taxes and other long-term liabilities” in the condensed consolidated balance sheet. Deferred revenue totaled $224.8 million at December 28, 2025, of which $159.3 million was included in “Accrued expenses and other current liabilities” and $65.5 million was included in “Deferred taxes and other long-term liabilities” in the condensed consolidated balance sheet. The Company also had customer deposits received in advance of the transfer of control totaling $20.3 million and $19.3 million at April 5, 2026 and December 28, 2025, respectively, which was included in “Accrued expenses and other current liabilities” in the condensed consolidated balance sheet. The Company expects that these customer deposits will be recognized in revenue within three months of the balance sheet date.
Transaction price allocated to the remaining performance obligations
The Company applies the practical expedient and does not disclose information about remaining performance obligations that have original expected durations of one year or less. The estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the period are not material to the Company. The remaining performance obligations primarily include noncancelable purchase orders, noncancelable software subscriptions and cloud service contracts and long-term prepaid storage contracts.
Note 3: Business Combinations
Acquisitions in fiscal year 2026
During the first quarter of fiscal year 2026, the Company completed its acquisition of Advanced Chemistry Development Inc. (“ACD/Labs”) for $72.0 million in cash paid at closing and up to $8.0 million in contingent consideration to be paid in cash based on the achievement of certain revenue metrics through 2028. ACD/Labs is based in Toronto, Canada, has approximately 200 employees, and is a provider of scientific software solutions that support analytical characterization and molecular design across pharmaceutical and material sciences end markets. The Company has reported the operations for this acquisition within the results of the Company’s Life Sciences segment from the acquisition date. Identifiable definite-lived intangible assets, such as developed technology ($30.1 million), trade names and trademarks ($0.8 million), customer relationships ($18.2 million) and backlog ($1.1 million), acquired as part of this acquisition had a weighted-average amortization period of 11.3 years. The Company recorded $32.0 million of goodwill in the period.

12
Note 4: Restructuring and Other Costs
Restructuring and other costs in the first 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 first quarter of fiscal year 2026, severance actions associated with facility consolidations and cost reduction measures affected approximately 2% of the Company’s workforce.
Restructuring and other costs in the first quarter of fiscal year 2025 primarily consisted of charges for workforce reductions and facility consolidations, abandonments or associated asset write-downs, costs of terminating certain lease agreements or contracts, as well as costs associated with relocating facilities.
Restructuring and other costs, which are included in the selling, general and administrative expenses in the consolidated statements of operations, by segment were as follows:
 
Three Months Ended
April 5,
2026		March 30,
2025
 (In thousands)
Life Sciences$3,229 $2,528 
Diagnostics7,554 135 
Corporate(108)576 
$10,675 $3,239 
The following table summarizes the changes in the Company’s accrued restructuring balance for the first quarter of fiscal year 2026. Other amounts reported as restructuring and other costs during the three months ended April 5, 2026 in the accompanying statement of income have been summarized in the notes to the table. Remaining obligations related to these accounts are expected to be paid over the next 12 months and are included in accrued expenses and other current liabilities in the consolidated balance sheets.
(In thousands)
Balance at December 28, 2025$17,793 
Net restructuring charges incurred in 2026 (a)
7,746 
Payments(11,555)
Balance at April 5, 2026$13,984 
(a) Excludes $2.9 million of charges, principally $1.2 million of lease abandonment charges and $0.4 million of acceleration of depreciation of fixed assets and other charges in the Diagnostics segment and $1.3 million of lease abandonment charges in the Life Sciences segment.


13
Note 5: Interest and Other Expense, Net

Interest and other expense, net, consisted of the following:
 Three Months Ended
 April 5,
2026		March 30,
2025
 (In thousands)
Interest income$(6,304)$(10,081)
Interest expense24,718 22,964 
Change in fair value of investments4,204 (3,073)
Other components of net periodic pension (credit) cost(251)6,787 
Foreign exchange losses and other expense, net3,527 3,251 
Total interest and other expense, net$25,894 $19,848 

Note 6: Inventories, net

Inventories, net consisted of the following:
April 5,
2026		December 28,
2025
 (In thousands)
Raw materials$169,780 $173,033 
Work in progress71,466 68,983 
Finished goods146,259 137,481 
Total inventories, net$387,505 $379,497 

Note 7: Debt

The Company’s debt consisted of the following:

April 5, 2026
Outstanding Principal
Unamortized Debt Discount
Unamortized Debt Issuance Costs
Net Carrying Amount
(In thousands)
Long-Term Debt:
Senior Unsecured Revolving Credit Facility$— $— $(2,677)$(2,677)
1.900% Senior Unsecured Notes due in 2028
500,000 (135)(1,634)498,231 
3.3% Senior Unsecured Notes due in 2029
850,000 (1,101)(3,048)845,851 
2.55% Senior Unsecured Notes due in March 2031400,000 (71)(1,871)398,058 
2.250% Senior Unsecured Notes due in September 2031
500,000 (883)(2,537)496,580 
3.625% Senior Unsecured Notes due in 2051
400,000 (3)(3,968)396,029 
   Total Long-Term Debt2,650,000 (2,193)(15,735)2,632,072 
Current Portion of Long-term Debt:
€500,000 Principal 1.875% Senior Unsecured Notes due in 2026 (“2026 Notes”)
576,150 (174)(145)575,831 
   Total$3,226,150 $(2,367)$(15,880)$3,207,903 

14
On January 7, 2025, the Company entered into a senior unsecured revolving credit facility with a five-year term and a borrowing capacity of $1.5 billion available through January 7, 2030. Borrowings will bear interest, payable quarterly or, if earlier, at the end of any interest period, at the Company’s option at either (a) the base rate (as described in the credit agreement), or (b) the Term Secured Overnight Financing Rate (“Term SOFR”) (as described in the credit agreement), in each case plus a percentage spread based on the credit rating of the Company’s debt. The base rate is the highest of (a) the Federal Funds Rate (as defined in the credit agreement) plus 0.50%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate”, and (c) Term SOFR plus 1.00%. The credit agreement for the new facility contains customary affirmative, negative and financial covenants and events of default. The financial covenants include a debt-to-capitalization ratio that remains applicable for so long as the Company’s debt is rated as investment grade. In the event that the Company’s debt is not rated as investment grade, the debt-to-capitalization ratio covenant is replaced with leverage ratio and interest coverage ratio covenants.

Note 8: Earnings Per Share
Basic earnings per share was computed by dividing net income by the weighted-average number of common shares outstanding during the period less restricted unvested shares. Diluted earnings per share was computed by dividing net income by the weighted-average number of common shares outstanding plus all potentially dilutive common stock equivalents, primarily shares issuable upon the exercise of stock options using the treasury stock method. The following table reconciles the number of shares utilized in the earnings per share calculations:
 Three Months Ended
 April 5,
2026		March 30,
2025
 (In thousands)
Number of common shares—basic111,852 120,137 
Effect of dilutive securities:
Stock options10 42 
Restricted stock awards14 54 
Number of common shares—diluted111,876 120,233 
Number of potentially dilutive securities excluded from calculation due to antidilutive impact1,455 1,134 
Antidilutive securities include outstanding stock options with exercise prices and average unrecognized compensation cost in excess of the average fair market value of common stock for the related period. Antidilutive options were excluded from the calculation of diluted net income per share and could become dilutive in the future.
Note 9: Segment Information
The Company discloses information about its operating segments based on the way that management organizes the segments within the Company for making operating decisions and assessing financial performance. The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer (“CEO”). The CEO evaluates the performance of the Company’s operating segments based on revenue and operating income as adjusted for certain items. Intersegment revenue and transfers are not significant. The accounting policies of the operating segments are the same as those described in Note 1, Nature of Operations and Accounting Policies, to the audited consolidated financial statements in the 2025 Form 10-K.
The Company has included the expenses for its corporate headquarters, such as legal, tax, audit, human resources, information technology, and other management and compliance costs, as well as the activity related to the mark-to-market adjustment on postretirement benefit plans, as “Corporate” below. The Company has a process to allocate and recharge expenses to the reportable segments when these costs are administered or paid by the corporate headquarters based on the extent to which the segment benefited from the expenses. These amounts have been calculated in a consistent manner and are included in the Company’s calculations of segment results to internally plan and assess the performance of each segment for all purposes, including determining the compensation of the business leaders for each of the Company’s operating segments.
15
The primary financial measure by which the CODM evaluates the performance of Company’s segments is adjusted operating income. Adjusted operating income consists of operating income plus amortization of intangible assets, adjustments to operations arising from purchase accounting (primarily adjustments to the fair value of acquired inventory that are subsequently recognized), acquisition and divestiture-related costs, and other costs that are not expected to recur or are of a non-cash nature, primarily including restructuring actions, significant litigation matters and transformation costs. The CODM does not evaluate operating segments using discrete asset information and segment assets are not reported to the CODM. Accordingly, no segment assets have been reported.
Revenue and operating income, including significant segment expenses, by reportable segment are shown in the table below:  
April 5, 2026March 30, 2025
Life SciencesDiagnosticsTotalLife SciencesDiagnosticsTotal
(In thousands)
Segment revenue$361,845 $349,273 $711,118 $340,395 $324,367 $664,762 
Segment cost of revenue131,574 156,753 119,321 135,190 
Segment selling, general and administrative expenses94,668 90,192 87,094 89,891 
Segment research and development expenses31,624 26,206 28,269 25,271 
Segment operating income$103,979 $76,122 180,101 $105,711 $74,015 179,726 
Corporate expenses(12,247)(9,815)
Amortization of intangible assets(85,081)(82,700)
Purchase accounting adjustments(141)177 
Acquisition and divestiture-related costs(282)(2,541)
Disposition of businesses and assets, net5,074 — 
Transformation costs(794)— 
Significant litigation matters and settlements(69)(10,586)
Significant environmental matters— 1,208 
Restructuring and other(10,675)(3,239)
Interest and other expense, net(25,894)(19,848)
Income from continuing operations before income taxes$49,992 $52,382 
Depreciation expense included in the Company’s reportable segment operating income and corporate expenses is as follows:
Three Months Ended
 April 5,
2026		March 30,
2025
 (In thousands)
Life Sciences$9,905 $7,185 
Diagnostics9,560 6,846 
Corporate510 691 
Total depreciation expense$19,975 $14,722 


16
Note 10: Stockholders’ Equity
Comprehensive Income:
The components of accumulated other comprehensive loss consisted of the following:
April 5,
2026		December 28,
2025
 (In thousands)
Foreign currency translation adjustments, net of income taxes$(253,554)$(221,062)
Unrecognized prior service costs, net of income taxes— (798)
Unrealized net losses on marketable securities, net of income taxes(2)(275)
Accumulated other comprehensive loss$(253,556)$(222,135)
The unrealized foreign exchange losses (gains), net of income taxes, on intercompany debt for which repayment is not anticipated in the foreseeable future that was recorded in accumulated other comprehensive income (“AOCI”) were $39.9 million and $(58.1) million for the three months ended April 5, 2026 and March 30, 2025, respectively.
Income tax (benefit) expense related to foreign currency translation adjustments recognized in AOCI was $(12.9) million for the three months ended April 5, 2026 and $4.2 million for the three months ended March 30, 2025.
Stock Repurchases:
On October 23, 2025, the Company’s Board of Directors (the “Board”) authorized the Company 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 22, 2027 unless terminated earlier by the Board and may be suspended or discontinued at any time. During the three months ended April 5, 2026, the Company repurchased 784,142 shares of common stock under the Repurchase Program for an aggregate cost of $79.0 million. As of April 5, 2026, $800.5 million remained available for aggregate repurchases of shares under the Repurchase Program.
Subsequent to the first quarter of fiscal year 2026, the Company repurchased 93,303 shares of common stock under the Repurchase Program at an aggregate cost of $7.8 million.
In addition, the Board has authorized the Company to repurchase shares of common stock to satisfy minimum statutory tax withholding obligations in connection with the vesting of restricted stock awards and restricted stock unit awards granted pursuant to the Company’s equity incentive plans and to satisfy obligations related to the exercise of stock options made pursuant to the Company’s equity incentive plans. During the three months ended April 5, 2026, the Company repurchased 51,115 shares of common stock for this purpose at an aggregate cost of $5.0 million. The repurchased shares have been reflected as additional authorized but unissued shares, with the payments reflected in common stock and capital in excess of par value.
Dividends:
The Board declared a regular quarterly cash dividend of $0.07 per share for the first quarter of fiscal year 2026 and in each quarter of fiscal year 2025. At April 5, 2026, the Company had accrued $7.8 million for dividends declared on January 26, 2026 for the first quarter of fiscal year 2026 that were paid in May 2026. On April 30, 2026, the Company announced that the Board had declared a quarterly dividend of $0.07 per share for the second quarter of fiscal year 2026 that will be payable in August 2026. In the future, the Board may determine to reduce or eliminate the Company’s common stock dividend in order to fund investments for growth, repurchase shares or conserve capital resources.

Note 11: Goodwill and Intangible Assets, Net
The Company tests goodwill at least annually for possible impairment. The Company completes the annual testing of impairment for goodwill on the later of November 1 or the first day of its eleventh fiscal month of each fiscal year. In addition to its annual test, the Company regularly evaluates whether events or circumstances have occurred that may indicate a potential impairment of goodwill.
The process of testing goodwill for impairment involves the determination of the fair value of the applicable reporting units. The test consists of the comparison of the fair value to the carrying value of the reporting unit to determine if the carrying value exceeds the fair value. If the carrying value of the reporting unit exceeds its fair value, an impairment loss in an amount equal to that excess is recognized up to the amount of goodwill.
17
The changes in the carrying amount of goodwill for the three months ended April 5, 2026 were as follows:
Life SciencesDiagnosticsConsolidated
 (In thousands)
Balance at December 28, 2025$4,744,962 $1,868,531 $6,613,493 
Foreign currency translation(24,952)(9,826)(34,778)
Acquisitions32,035 — 32,035 
Balance at April 5, 2026$4,752,045 $1,858,705 $6,610,750 
Identifiable intangible asset balances by category were as follows:
April 5,
2026		December 28,
2025
 (In thousands)
Patents$27,592 $27,592 
Less: Accumulated amortization(26,579)(26,524)
Net patents1,013 1,068 
Trade names and trademarks148,996 150,103 
Less: Accumulated amortization(103,298)(102,234)
Net trade names and trademarks45,698 47,869 
Licenses27,550 27,561 
Less: Accumulated amortization(20,214)(19,849)
Net licenses7,336 7,712 
Core technology1,641,071 1,624,925 
Less: Accumulated amortization(945,967)(921,325)
Net core technology695,104 703,600 
Customer relationships2,886,388 2,870,384 
Less: Accumulated amortization(1,329,005)(1,283,630)
Net customer relationships1,557,383 1,586,754 
Total$2,306,534 $2,347,003 
Total amortization expense related to amortizable intangible assets was $85.1 million and $82.7 million for the three months ended April 5, 2026 and March 30, 2025, respectively. Estimated amortization expense related to amortizable intangible assets is $254.5 million for the remainder of fiscal year 2026, $312.7 million for fiscal year 2027, $286.8 million for fiscal year 2028, $256.7 million for fiscal year 2029, and $227.9 million for fiscal year 2030.

Note 12: Derivatives and Hedging Activities
The Company uses derivative instruments as part of its risk management strategy only, and includes derivatives utilized as economic hedges that are not designated as hedging instruments. By nature, all financial instruments involve market and credit risks. The Company enters into derivative instruments with major investment grade financial institutions and has policies to monitor the credit risk of those counterparties. The Company does not enter into derivative contracts for trading or other speculative purposes, nor does the Company use leveraged financial instruments. Approximately 60% of the Company’s business is conducted outside of the United States, generally in foreign currencies. As a result, fluctuations in foreign currency exchange rates can increase the costs of financing, investing and operating the business.
18
In the ordinary course of business, the Company enters into foreign exchange contracts for periods consistent with its committed exposures to mitigate the effect of foreign currency movements on transactions denominated in foreign currencies. The intent of these economic hedges is to offset gains and losses that occur on the underlying exposures from these currencies, with gains and losses resulting from the forward currency contracts that hedge these exposures. Transactions covered by hedge contracts include intercompany and third-party receivables and payables. The contracts are primarily in European and Asian currencies, have maturities that do not exceed 12 months, have no cash requirements until maturity, and are recorded at fair value on the Company’s condensed consolidated balance sheets. The unrealized gains and losses on the Company’s foreign currency contracts are recognized immediately in interest and other expense, net. The cash flows related to the settlement of these hedges are included in cash flows from operating activities within the Company’s condensed consolidated statement of cash flows.
Principal hedged currencies include the Chinese Renminbi, British Pound, Euro and Singapore Dollar. The Company held forward foreign exchange contracts, designated as economic hedges, with U.S. dollar equivalent notional amounts totaling $459.8 million and $598.4 million at April 5, 2026 and December 28, 2025, respectively, and the fair value of these foreign currency derivative contracts was insignificant. The gains and losses realized on these foreign currency derivative contracts are not material. The duration of these contracts was generally 30 days or less during each of the three months ended April 5, 2026 and March 30, 2025.
During fiscal year 2018, the Company designated a portion of the 2026 Notes to hedge its net investments in certain foreign subsidiaries. Unrealized translation adjustments from a portion of the 2026 Notes were included in the foreign currency translation component of AOCI, which offsets translation adjustments on the underlying net assets of foreign subsidiaries. The cumulative translation gains or losses will remain in AOCI until the foreign subsidiaries are liquidated or sold. As of April 5, 2026, the total notional amount of the 2026 Notes that was designated to hedge net investments in foreign subsidiaries was €498.6 million. The unrealized foreign exchange (gains) losses recorded in AOCI related to the net investment hedge were $(13.3) million and $19.2 million for the three months ended April 5, 2026 and March 30, 2025, respectively.
The Company does not expect any material net pre-tax gains or losses to be reclassified from accumulated other comprehensive loss into interest and other expense, net within the next twelve months.

Note 13: Fair Value Measurements
Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash equivalents, derivatives, marketable securities, accounts receivable and notes receivable. The Company believes it had no significant concentrations of credit risk as of April 5, 2026.
The Company uses the market approach technique to value its financial instruments and there were no changes in valuation techniques during the three months ended April 5, 2026. The Company’s financial assets and liabilities carried at fair value are primarily comprised of marketable securities, derivative contracts used to hedge the Company’s currency risk, and acquisition and divestiture related contingent consideration. The Company has not elected to measure any additional financial instruments or other items at fair value.
Valuation Hierarchy: The following summarizes the three levels of inputs required to measure fair value. For Level 1 inputs, the Company utilizes quoted market prices as these instruments have active markets. For Level 2 inputs, the Company utilizes quoted market prices in markets that are not active, broker or dealer quotations, or utilizes alternative pricing sources with reasonable levels of price transparency. For Level 3 inputs, the Company utilizes unobservable inputs based on the best information available, including estimates by management primarily based on information provided by third-party fund managers, independent brokerage firms and insurance companies. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible.
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The following tables show the assets and liabilities carried at fair value measured on a recurring basis as of April 5, 2026 and December 28, 2025 classified in one of the three classifications described above:
 Fair Value Measurements at April 5, 2026 Using:
 Total Carrying Value at April 5, 2026Quoted Prices in
Active Markets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
 (In thousands)
Marketable securities - available for sale$22,865 $22,865 $— $— 
Foreign exchange derivative assets585 — 585 — 
Foreign exchange derivative liabilities(381)— (381)— 
Contingent consideration asset14,890 — — 14,890 
Contingent consideration liabilities(25,011)— — (25,011)
 
 Fair Value Measurements at December 28, 2025 Using:
 Total Carrying Value at December 28, 2025Quoted Prices in
Active Markets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable 
Inputs
(Level 3)
 (In thousands)
Marketable securities - available for sale$27,956 $27,956 $— $— 
Foreign exchange derivative assets1,832 — 1,832 — 
Foreign exchange derivative liabilities(1,487)— (1,487)— 
Contingent consideration asset14,890 — — 14,890 
Contingent consideration liabilities(17,869)— — (17,869)
Level 1 and Level 2 Valuation Techniques:    The Company’s Level 1 and Level 2 assets and liabilities are comprised of investments in equity and fixed-income securities as well as derivative contracts. For financial assets and liabilities that utilize Level 1 and Level 2 inputs, the Company utilizes both direct and indirect observable price quotes, including common stock price quotes, foreign exchange forward prices and bank price quotes. Below is a summary of valuation techniques for Level 1 and Level 2 financial assets and liabilities.
Marketable securities - available for sale: Includes equity and mutual fund investments measured at fair value using the quoted market prices in active markets at the reporting date.
Foreign exchange derivative assets and liabilities: Include foreign exchange derivative contracts that are valued using quoted forward foreign exchange prices at the reporting date. The Company’s foreign exchange derivative contracts are subject to master netting arrangements that allow the Company and its counterparties to net settle amounts owed to each other. Derivative assets and liabilities that can be net settled under these arrangements have been presented in the Company’s condensed consolidated balance sheet on a net basis and are recorded in other assets. As of both April 5, 2026 and December 28, 2025, none of the master netting arrangements involved collateral.
Level 3 Valuation Techniques: The Company’s Level 3 assets and liabilities are comprised of contingent consideration related to the sale of certain assets and the equity interests constituting the Company’s Applied, Food and Enterprise Services business (the “Business”) during fiscal year 2023 and acquisitions. For assets and liabilities that utilize Level 3 inputs, the Company uses significant unobservable inputs. Below is a summary of valuation techniques for Level 3 assets and liabilities.

Contingent consideration:    Contingent consideration is measured at fair value at the disposition or acquisition date using projected milestone dates, discount rates, volatility, probabilities of success and projected achievement of financial targets, including revenues of the acquired business in many instances. Projected risk-adjusted contingent payments are discounted back to the current period using a discounted cash flow model.

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The fair value of the contingent consideration asset was initially measured using a lattice model and recognized upon the sale of the Business on March 13, 2023. In accordance with the terms of the sale of the Business, the Company is entitled to receive up to $150.0 million that is contingent on the exit valuation the buyer and its affiliated funds receive on a sale or other capital event related to the Business. Potential valuation adjustments may be made as additional information and market factors that impact the expected exit valuation of the Business becomes available, with the impact of such adjustments being recorded in the Company’s condensed consolidated statements of operations. Adjustments to the fair value since initial recognition were not material. As of April 5, 2026 and December 28, 2025, the carrying value of the contingent consideration asset was $14.9 million.

The fair values of contingent consideration liabilities are calculated on a quarterly basis based on a collaborative effort of the Company’s operations, finance and accounting groups, as appropriate. Valuation adjustments are made as additional information becomes available, including the progress towards achieving the revenue targets, with the impact of such adjustments being recorded in the Company’s condensed consolidated statements of operations.
A reconciliation of the beginning and ending Level 3 contingent consideration liabilities is as follows:
 Three Months Ended
 April 5,
2026		March 30,
2025
 (In thousands)
Balance at beginning of period$(17,869)$(21,753)
Additions(8,000)— 
Amounts paid and foreign currency translation759 1,388 
Change in fair value (included within selling, general and administrative expenses)99 625 
Balance at end of period$(25,011)$(19,740)
Financial Instruments Not Recorded at Fair Value
The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value due to the short-term maturities of these assets and liabilities. If measured at fair value, cash and cash equivalents would be classified as Level 1.
The Company’s outstanding senior unsecured notes had an aggregate fair value of $2,950.6 million and an aggregate carrying value of $3,210.6 million as of April 5, 2026. The Company’s outstanding senior unsecured notes had an aggregate fair value of $2,963.7 million and an aggregate carrying value of $3,222.9 million as of December 28, 2025. The fair values of the outstanding senior unsecured notes were estimated using market quotes from brokers and were based on current rates offered for similar debt, which are Level 2 measurements.

Note 14: Contingencies

The Company is conducting a number of environmental investigations and remedial actions at current and former locations of the Company and, along with other companies, has been named a potentially responsible party (“PRP”) for certain waste disposal sites. The Company accrues for environmental issues in the accounting period that the Company’s responsibility is established and when the cost can be reasonably estimated. The Company has accrued $10.7 million and $10.8 million as of April 5, 2026 and December 28, 2025, respectively, which represents its management’s estimate of the cost of the remediation of known environmental matters and does not include any potential liability for related personal injury or property damage claims. These amounts were included in accrued expenses and other current liabilities. The Company’s environmental accrual is not discounted and does not reflect the recovery of any material amounts through insurance or indemnification arrangements. The cost estimates are subject to a number of variables, including the stage of the environmental investigations, the magnitude of the possible contamination, the nature of the potential remedies, possible joint and several liability, the time period over which remediation may occur, and the possible effects of changing laws and regulations. For sites where the Company has been named a PRP, management does not currently anticipate any additional liability to result from the inability of other significant named parties to contribute. The Company expects that the majority of such accrued amounts could be paid out over a period of up to ten years. As assessment and remediation activities progress at each individual site, these liabilities are reviewed and adjusted to reflect additional information as it becomes available. There have been no environmental problems to date that have had, or are expected to have, a material adverse effect on the Company’s condensed consolidated financial statements. While it is possible that a loss exceeding the amounts recorded in the condensed consolidated financial statements may be incurred, the potential exposure is not expected to be materially different from those amounts recorded.
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The Company is subject to various claims, legal proceedings and investigations covering a wide range of matters that arise in the ordinary course of its business activities, including product liability claims. Legal defense costs are recognized as incurred, and insurance recoveries are recognized when collection is probable. Although the Company has established accruals for potential losses that it believes are probable and reasonably estimable, in the opinion of the Company’s management, based on its review of the information available at the reporting date, the total cost of resolving these contingencies at April 5, 2026 should not have a material adverse effect on the Company’s condensed consolidated financial statements. However, each of these matters is subject to uncertainties, and it is possible that some of these matters may be resolved unfavorably to the Company.

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Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations
This quarterly report on Form 10-Q, including the following management’s discussion and analysis, contains forward-looking information that you should read in conjunction with the condensed consolidated financial statements and notes to the condensed consolidated financial statements that we have included elsewhere in this report. For this purpose, any statements contained in this report that are not statements of historical fact may be deemed to be forward-looking statements. Words such as “believes,” “plans,” “anticipates,” “intends,” “expects,” “will” and similar expressions are intended to identify forward-looking statements. Our actual results may differ materially from the plans, intentions or expectations we disclose in the forward-looking statements we make. We have included important factors below under the heading “Risk Factors” in Part II, Item 1A. that we believe could cause actual results to differ materially from the forward-looking statements we make. We are not obligated to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Overview
Our fiscal year ends on the Sunday nearest December 31. We report fiscal years under a 52/53 week format and as a result, certain fiscal years will contain 53 weeks. The fiscal year ending January 3, 2027 (“fiscal year 2026”) will include 53 weeks, and the fiscal year ended December 28, 2025 (“fiscal year 2025”) included 52 weeks.
We are a leading provider of health science solutions, technologies, expertise and services that deliver complete workflows from discovery to development, and diagnosis to cure. Revvity is revolutionizing what’s possible in healthcare, with specialized focus areas in translational multi-omics technologies, biomarker identification, imaging, prediction, screening, detection and diagnosis, informatics and more.
The principal products and services of our two reportable segments are:
•Life Sciences. Provides products and services targeted towards life sciences customers.
•Diagnostics. Develops diagnostics, tools and applications focused on clinically-oriented customers, especially within the areas of reproductive health and emerging market diagnostics.
Overview of the First Quarter of Fiscal Year 2026
Our overall revenue in the first quarter of fiscal year 2026 was $711.1 million which increased by $46.4 million, or 7%, as compared to the first quarter of fiscal year 2025, reflecting an increase of $24.9 million, or 8%, in our Diagnostics segment revenue, and an increase of $21.4 million, or 6%, in our Life Sciences segment revenue. The increase in our Diagnostics segment revenue for the first quarter of fiscal year 2026 was driven by both our Reproductive Health business and favorable changes in foreign exchange rates. The increase in our Life Sciences segment revenue for the first quarter of fiscal year 2026 was driven by both our Life Sciences Solutions and Software businesses and the extra fiscal week.
Our consolidated gross margins decreased 200 basis points from 56.5% to 54.5% in the first quarter of fiscal year 2026, as compared to the first quarter of fiscal year 2025, primarily due to product mix shift, changes in foreign exchange rates, increased tariffs and impact of the extra fiscal week. Our consolidated operating margins decreased from 10.9% to 10.7% in the first quarter of fiscal year 2026, as compared to the first quarter of fiscal year 2025, primarily due to gross margin headwinds and impact of the extra fiscal week, partially offset by productivity and cost containment initiatives.


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Critical Accounting Policies and Estimates
The preparation of condensed consolidated financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses and related disclosure of contingent assets and liabilities. On an ongoing basis, we evaluate our estimates, including those related to accounting for business combinations, divestitures, long-lived assets, including goodwill and other intangible assets, and employee compensation and benefits. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
Critical accounting policies are those policies that affect our more significant judgments and estimates used in the preparation of our condensed consolidated financial statements. We believe our critical accounting policies include policies regarding business combinations, divestitures, valuation of long-lived assets, including goodwill and other intangibles and employee compensation and benefits.
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 28, 2025 (our “2025 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 April 5, 2026.

Consolidated Results of Continuing Operations
Revenue
Revenue for the three months ended April 5, 2026 was $711.1 million, as compared to $664.8 million for the three months ended March 30, 2025, an increase of $46.4 million, or 7%, which includes a 3% increase in revenue attributable to favorable changes in foreign exchange rates and a 1% increase in revenue attributable to acquisitions. The analysis in the remainder of this paragraph compares segment revenue and includes the effect of foreign exchange rate fluctuations. Life Sciences segment revenue was $361.8 million for the three months ended April 5, 2026, as compared to $340.4 million for the three months ended March 30, 2025, an increase of $21.4 million, or 6%, driven by an increase of $13.5 million in Life Sciences Solutions revenue and an increase of $7.9 million in Software revenue and the extra fiscal week. Diagnostics segment revenue was $349.3 million for the three months ended April 5, 2026, as compared to $324.4 million for the three months ended March 30, 2025, an increase of $24.9 million, or 8%, due to an increase of $20.6 million in Reproductive Health revenue and an increase of $4.3 million in Immunodiagnostics revenue.
Cost of Revenue
Cost of revenue for the three months ended April 5, 2026 was $323.5 million, as compared to $289.2 million for the three months ended March 30, 2025, an increase of $34.2 million, or 12%. As a percentage of revenue, cost of revenue increased to 45.5% for the three months ended April 5, 2026, from 43.5% for the three months ended March 30, 2025, resulting in a decrease in gross margin of 200 basis points to 54.5% for the three months ended April 5, 2026, from 56.5% for the three months ended March 30, 2025, primarily due to product mix shift, changes in foreign exchange rates, increased tariffs and impact of the extra fiscal week. Amortization of intangible assets was $35.0 million for the three months ended April 5, 2026, as compared to $34.4 million for the three months ended March 30, 2025.
Tariffs enacted and currently in effect increased our cost of revenue by approximately $8 million for the three months ended April 5, 2026. Through proactive mitigation efforts, the net impact on gross margin was approximately $6 million for the three months ended April 5, 2026. On February 20, 2026, the United States Supreme Court ruled that the International Emergency Economic Powers Act (“IEEPA”) does not authorize the imposition of tariffs. In March 2026, the U.S. Court of International Trade ordered U.S. Customs and Border Protection (CBP) to finalize or revise certain import duty determinations excluding IEEPA duties. The court then suspended the order to the extent it required immediate action while CBP implemented an administrative refund process. While we intend to seek refunds, the timing and amount of recoveries remain uncertain and will depend on the scope and timing of court or administrative developments and completion of applicable administrative steps. Accordingly, no refund receivable has been recorded as of April 5, 2026.

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Selling, General and Administrative Expenses
Selling, general and administrative expenses for the three months ended April 5, 2026 were $253.9 million, as compared to $249.7 million for the three months ended March 30, 2025, an increase of $4.2 million, or 2%. As a percentage of revenue, selling, general and administrative expenses decreased and were 35.7% for the three months ended April 5, 2026, as compared to 37.6% for the three months ended March 30, 2025. Amortization of intangible assets increased and was $50.1 million for the three months ended April 5, 2026, as compared to $48.3 million for the three months ended March 30, 2025. Restructuring and other costs increased and was $10.7 million for the three months ended April 5, 2026, as compared to $3.2 million for the three months ended March 30, 2025. Restructuring and other costs in the first 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 first quarter of fiscal year 2026, severance actions associated with facility consolidations and cost reduction measures affected approximately 2% of our workforce. Transformation costs were $0.8 million for the three months ended April 5, 2026. Purchase accounting adjustments decreased expenses by $0.1 million for the three months ended April 5, 2026, which primarily consisted of a change in contingent consideration, as compared to $0.4 million for the three months ended March 30, 2025. Costs for significant environmental matters decreased expenses by $1.2 million for the three months ended March 30, 2025. The above increases were also partially offset by a decrease in significant litigation matters and settlements, which was $0.1 million for the three months ended April 5, 2026, as compared to $10.6 million for the three months ended March 30, 2025. Disposition of businesses and assets, net decreased expenses by $5.1 million for the three months ended April 5, 2026. Acquisition and divestiture-related expenses, which primarily consisted of legal and integration costs, decreased and was $0.3 million for the three months ended April 5, 2026, as compared to $2.5 million for the three months ended March 30, 2025. Excluding the items noted above, selling, general and administrative expenses increased labor costs due to the extra fiscal week in the current quarter as compared to the same period in the prior year and employee incentive compensation.
Research and Development Expenses
Research and development expenses for the three months ended April 5, 2026 were $57.9 million, as compared to $53.6 million for the three months ended March 30, 2025, an increase of $4.3 million, or 8%. As a percentage of revenue, research and development expenses were flat at 8.1% for both the three months ended April 5, 2026 and the three months ended March 30, 2025. The increase in research and development expenses was primarily driven by our investments in new product development and increased labor costs due to the extra fiscal week.
Interest and Other Expense, Net
Interest and other expense, net, consisted of the following:
Three Months Ended
April 5,
2026		March 30,
2025
(In thousands)
Interest income$(6,304)$(10,081)
Interest expense24,718 22,964 
Change in fair value of investments4,204 (3,073)
Other components of net periodic pension (credit) cost(251)6,787 
Foreign exchange losses and other expense, net3,527 3,251 
Total interest and other expense, net$25,894 $19,848 
The decrease in interest income for the three months ended April 5, 2026 as compared to the three months ended March 30, 2025 was primarily due to a decrease in marketable securities and short-term investments. Interest expense was higher for the three months ended April 5, 2026 as compared to the same period in the prior year primarily due to the extra fiscal week in the current quarter, which resulted in one additional week of accrued interest as compared to the quarter ended March 30, 2025.

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Provision for Income Taxes
The provision for income taxes from continuing operations was $9.1 million for the three months ended April 5, 2026, as compared to $10.7 million for the three months ended March 30, 2025.
The effective tax rate from continuing operations was 18.2% for the three months ended April 5, 2026, as compared to 20.5% for the three months ended March 30, 2025. The effective tax rate for the three months ended April 5, 2026 was lower primarily due to net favorable impacts of prior year true-ups recorded in fiscal year 2026 in foreign locations of $1.0 million as compared to fiscal year 2025. We expect that the effective tax rate on continuing operations, before discrete items, will be approximately 20% during fiscal year 2026.

Reporting Segment Results of Continuing Operations
Life Sciences
Revenue for the three months ended April 5, 2026 was $361.8 million, as compared to $340.4 million for the three months ended March 30, 2025, an increase of $21.4 million, or 6%, which includes a 2% increase in revenue attributable to acquisitions and divestitures and a 2% increase in revenue attributable to favorable changes in foreign exchange rates. The increase in our Life Sciences segment revenue during the three months ended April 5, 2026 was driven by an increase of $13.5 million in Life Sciences Solutions revenue and an increase of $7.9 million in Software revenue and the extra fiscal week.
Segment operating income for the three months ended April 5, 2026 was $104.0 million, as compared to $105.7 million for the three months ended March 30, 2025, a decrease of $1.7 million, or 2%. Segment operating margin decreased 240 basis points in the three months ended April 5, 2026, as compared to the three months ended March 30, 2025, primarily due to product mix shift, strategic investments in software and new product development and impact of the extra fiscal week.
Diagnostics
Revenue for the three months ended April 5, 2026 was $349.3 million, as compared to $324.4 million for the three months ended March 30, 2025, an increase of $24.9 million, or 8%, which includes a 4% increase in revenue attributable to favorable changes in foreign exchange rates. The increase in our Diagnostics segment revenue during the three months ended April 5, 2026 was driven by an increase of $20.6 million in Reproductive Health revenue and an increase of $4.3 million in Immunodiagnostics revenue.
Segment operating income for the three months ended April 5, 2026 was $76.1 million, as compared to $74.0 million for the three months ended March 30, 2025, an increase of $2.1 million, or 3%. Segment operating margin decreased 100 basis points in the three months ended April 5, 2026, as compared to the three months ended March 30, 2025, primarily due to product mix shift, changes in foreign exchange rates, increased tariffs and impact of the extra fiscal week.

Liquidity and Capital Resources
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.
At April 5, 2026, we had cash and cash equivalents of $860.3 million, of which $518.3 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.

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On October 23, 2025, 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 22, 2027 unless terminated earlier by our Board and may be suspended or discontinued at any time. During the three months ended April 5, 2026, we repurchased 784,142 shares of common stock under the Repurchase Program for an aggregate cost of $79.0 million. As of April 5, 2026, $800.5 million remained available for aggregate repurchases of shares under the Repurchase Program. Subsequent to the first quarter of fiscal year 2026, we repurchased 93,303 shares of common stock under the Repurchase Program at an aggregate cost of $7.8 million. 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 April 5, 2026, we may have to pay contingent consideration related to acquisitions with open contingency periods of up to $81.6 million. As of April 5, 2026, we have recorded contingent consideration obligations of $25.0 million, of which $4.0 million was recorded in accrued expenses and other current liabilities, and $21.0 million was recorded in long-term liabilities. The maximum earnout period for acquisitions with open contingency periods is 5.7 years from April 5, 2026, and the remaining weighted average expected earnout period at April 5, 2026 was 3.2 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 our continuing operations was $125.9 million for the three months ended April 5, 2026, as compared to $134.1 million for the three months ended March 30, 2025, a decrease of $8.2 million. The cash provided by operating activities for the three months ended April 5, 2026 was principally a result of adjustments for non-cash charges aggregating to $124.7 million, including depreciation and amortization of $105.1 million, income from continuing operations of $40.9 million, and a net cash decrease in working capital of $39.7 million, primarily due to timing of collections, inventory purchases and employee incentive compensation payout. The cash provided by operating activities for the three months ended March 30, 2025 was principally a result of adjustments for non-cash charges aggregating to $105.7 million, including depreciation and amortization of $97.4 million, income from continuing operations of $41.7 million, and a net cash decrease in working capital of $13.3 million.
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Investing Activities. Net cash used in investing activities of our continuing operations was $78.3 million for the three months ended April 5, 2026, as compared to $15.8 million for the three months ended March 30, 2025, an increase of $62.5 million primarily due to cash paid for acquisitions, net of cash acquired of $67.3 million during the three months ended April 5, 2026. During the three months ended April 5, 2026, net cash used for capital expenditures was $19.8 million, as compared to $16.0 million for the three months ended March 30, 2025. During the three months ended April 5, 2026, purchases of investments and notes receivables were $1.1 million. The cash used in investing activities during the three months ended April 5, 2026 was partially offset by $0.2 million proceeds from disposition of businesses and assets, remaining flat compared to the three months ended March 30, 2025. During the three months ended April 5, 2026, proceeds from disposition of property, plant and equipment amounted to $9.0 million. During the three months ended April 5, 2026, proceeds from investments and notes receivable amounted to $0.7 million.
Financing Activities. Net cash used in financing activities was $88.9 million for the three months ended April 5, 2026, as compared to $163.7 million for the three months ended March 30, 2025, a decrease of $74.8 million. During the three months ended April 5, 2026, we repurchased shares of our common stock for a total cost of $86.5 million, as compared to $153.6 million in the prior year period. We paid $7.8 million in dividends for the three months ended April 5, 2026, as compared to $8.4 million for the three months ended March 30, 2025. During the three months ended March 30, 2025, we made net payments of $2.5 million on debts. We paid $1.8 million for acquisition-related contingent consideration during the three months ended March 30, 2025. The cash used in financing activities during the three months ended April 5, 2026 was partially offset by proceeds from the issuance of common stock under our stock plans of $5.4 million during the three months ended April 5, 2026, as compared to $2.6 million for the three months ended March 30, 2025.
Borrowing Arrangements
Our outstanding €500,000 Principal 1.875% Senior Unsecured Notes due in 2026 (the “2026 Notes”) will mature in July 2026. We expect to repay the 2026 Notes with our existing cash on hand or borrowings under our senior unsecured revolving credit facility, or a combination thereof. See Note 7, Debt, in the Notes to Condensed Consolidated Financial Statements and Note 13, Debt, to our audited consolidated financial statements in the 2025 Form 10-K for a detailed discussion of our borrowing arrangements.

Dividends
Our Board declared a regular quarterly cash dividend of $0.07 per share for the first quarter of fiscal year 2026 and in each quarter of fiscal year 2025. At April 5, 2026, we had accrued $7.8 million for dividends declared on January 26, 2026 for the first quarter of fiscal year 2026 that were paid in May 2026. On April 30, 2026, we announced that our Board had declared a quarterly dividend of $0.07 per share for the second quarter of fiscal year 2026 that will be payable in August 2026. 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.

Effects of Recently Adopted and Issued Accounting Pronouncements
See Note 1, Nature of Operations and Accounting Policies, to our audited consolidated financial statements in the 2025 Form 10-K for a summary of recently adopted new accounting pronouncements during the fiscal year ended December 28, 2025. We have not adopted any new accounting pronouncements during the three months ended April 5, 2026.


Item 3.Quantitative and Qualitative Disclosures About Market Risk
Market Risk. We are exposed to market risk, including changes in interest rates and currency exchange rates. To manage the volatility relating to these exposures, we enter into various derivative transactions pursuant to our policies to hedge against known or forecasted market exposures. We briefly describe several of the market risks we face below. Our market risks are not materially different from the disclosure provided under the heading, Item 7A. “Quantitative and Qualitative Disclosures About Market Risk,” in our 2025 Form 10-K.
Foreign Currency Exchange Risk—Value-at-Risk Disclosure. We continue to measure foreign currency risk using the Value-at-Risk model described in Item 7A. “Quantitative and Qualitative Disclosures About Market Risk,” in our 2025 Form 10-K. The measures for our Value-at-Risk analysis have not changed materially.
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Interest Rate Risk. Our debt portfolio is primarily comprised of fixed interest debt. Our cash and cash equivalents, for which we receive interest at variable rates, were $860.3 million at April 5, 2026. Fluctuations in interest rates can therefore have a direct impact on both our short-term cash flows, as they relate to interest, and our earnings. To manage the volatility relating to these exposures, we periodically enter into various derivative transactions pursuant to our policies to hedge against known or forecasted interest rate exposures. However, no such instruments are outstanding at April 5, 2026. We believe that we do not have any material exposure of interest rate risk.


Item 4.Controls and Procedures
Evaluation of Disclosure Controls and Procedures. Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures as of the end of our fiscal quarter ended April 5, 2026. The term “disclosure controls and procedures” as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), means controls and other procedures of a company that are designed to provide reasonable assurance that information required to be disclosed by the company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the company’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure. Management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives and management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Based on the evaluation of our disclosure controls and procedures as of the end of our fiscal quarter ended April 5, 2026, our Chief Executive Officer and Chief Financial Officer concluded that, as of such date, our disclosure controls and procedures were effective at the reasonable assurance level.
Changes in Internal Control Over Financial Reporting. There were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the fiscal quarter ended April 5, 2026 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
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PART II. OTHER INFORMATION

Item 1.Legal Proceedings
We are subject to various claims, legal proceedings and investigations covering a wide range of matters that arise in the ordinary course of our business activities. Although we have established accruals for potential losses that we believe are probable and reasonably estimable, in the opinion of our management, based on its review of the information available at this time, the total cost of resolving these contingencies at April 5, 2026 should not have a material adverse effect on our condensed consolidated financial statements. However, each of these matters is subject to uncertainties, and it is possible that some of these matters may be resolved unfavorably to us.

Item 1A.Risk Factors
The following important factors affect our business and operations generally or affect multiple segments of our business and operations:
Risks Related to our Business Operations and Industry
If the markets into which we sell our products decline or do not grow as anticipated due to a decline in general economic conditions, or there are uncertainties surrounding the approval of government or industrial funding proposals, or there are unfavorable changes in government regulations, we may see an adverse effect on the results of our business operations.
Our customers include pharmaceutical and biotechnology companies, laboratories, academic and research institutions, public health authorities, private healthcare organizations, doctors and government agencies. Our quarterly revenue and results of operations are highly dependent on the volume and timing of orders received during the quarter. In addition, our revenues and earnings forecasts for future quarters are often based on the expected trends in our markets. However, the markets we serve do not always experience the trends that we may expect. Negative fluctuations in our customers’ markets, the inability of our customers to secure credit or funding, restrictions in capital expenditures, general economic conditions, cuts in government funding, deficit reduction efforts or other actions that reduce or freeze the availability of government funding for healthcare and research or unfavorable changes in government regulations would likely result in a reduction in demand for our products and services and additional pricing pressures, as well as create potential collection risk associated with those sales. In addition, government funding is subject to economic conditions and the political process, which is inherently fluid and unpredictable. Recently announced and proposed changes in U.S. funding and regulations have created a more cautious spending environment for our customers and could cause them to become more conservative with both instrumentation and consumable purchases due to funding and regulatory uncertainty. Our revenues may be adversely affected if our customers delay or reduce purchases as a result of uncertainties surrounding the approval of government or industrial funding proposals or reductions in government funding. Such declines could harm our consolidated financial position, results of operations, cash flows and trading price of our common stock, and could limit our ability to sustain profitability.
Our growth and profitability are subject to global economic and political conditions, and operational disruptions at our facilities.
Our business is affected by global economic and political conditions as well as the state of the financial markets, particularly as the United States and other countries balance concerns around debt, inflation, trade protectionism, energy security, growth and budget allocations in their policy initiatives. There can be no assurance that global economic conditions and financial markets will not worsen and that we will not experience any adverse effects that may be material to our consolidated cash flows, results of operations, financial position or our ability to access capital, such as the adverse effects resulting from a prolonged shutdown in government operations both in the United States and internationally. Our business is also affected by local economic environments, including inflation, recession, financial liquidity, interest rates and currency volatility or devaluation. Environmental events and political changes, including trade barriers and tariffs, such as tariffs announced or imposed on U.S. trading partners and retaliatory measures threatened or imposed in response, and war or other conflicts, such as the current conflicts in Ukraine and Iran, some of which may be disruptive, could interfere with our supply chain, our customers and all of our activities in a particular location.
While we take precautions to prevent production or service interruptions at our global facilities, a major earthquake, fire, flood, power loss or other catastrophic event that results in the destruction or delay of any of our critical business operations could result in our incurring significant liability to customers or other third parties, cause significant reputational damage or have a material adverse effect on our business, operating results or financial condition.
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Certain of these risks can be hedged to a limited degree using financial instruments, or other measures, and some of these risks are insurable, but any such mitigation efforts are costly and may not always be fully successful. Our ability to engage in such mitigation efforts has decreased or become even more costly as a result of recent market developments.
If we do not introduce new products in a timely manner, we may lose market share and be unable to achieve revenue growth targets.
We sell many of our products in industries characterized by rapid technological change, frequent new product and service introductions, and evolving customer needs and industry standards. Many of the businesses competing with us in these industries have significant financial and other resources to invest in new technologies, substantial intellectual property portfolios, substantial experience in new product development, regulatory expertise, manufacturing capabilities, and established distribution channels to deliver products to customers. Our products could become technologically obsolete over time, or we may invest in technology that does not lead to revenue growth or continue to sell products for which the demand from our customers is declining, in which case we may lose market share or not achieve our revenue growth targets. The success of our new product offerings will depend upon several factors, including our ability to:
•accurately anticipate customer needs,
•innovate and develop new reliable technologies and applications,
•receive regulatory approvals in a timely manner,
•successfully commercialize new technologies in a timely manner,
•price our products competitively, and manufacture and deliver our products in sufficient volumes and on time, and
•differentiate our offerings from our competitors’ offerings.
Many of our products are used by our customers to develop, test and manufacture their products. We must anticipate industry trends and consistently develop new products to meet our customers’ expectations. In developing new products, we may be required to make significant investments before we can determine the commercial viability of the new product. If we fail to accurately foresee our customers’ needs and future activities, we may invest heavily in research and development of products that do not lead to significant revenue. We may also suffer a loss in market share and potential revenue if we are unable to commercialize our technology in a timely and efficient manner.
In addition, some of our licensed technology is subject to contractual restrictions, which may limit our ability to develop or commercialize products for some applications.
We may not be able to successfully execute acquisitions or divestitures, license technologies, integrate acquired businesses or licensed technologies into our existing businesses, maintain licensed technologies, or make acquired businesses or licensed technologies profitable.
We have in the past supplemented, and may in the future supplement, our internal growth by acquiring businesses and licensing technologies that complement or augment our existing product lines, such as our recent acquisition of Advanced Chemistry Development Inc. However, we may be unable to identify or complete promising acquisitions or license transactions for many reasons, such as:
•competition among buyers and licensees,
•the high valuations of businesses and technologies,
•the need for regulatory and other approval, and
•our inability to raise capital to fund these acquisitions.
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Some of the businesses we acquire may be unprofitable or marginally profitable, or may increase the variability of our revenue recognition. If, for example, we are unable to successfully commercialize products and services related to significant in-process research and development that we have capitalized, we may have to impair the value of such assets. Accordingly, the earnings or losses of acquired businesses may dilute our earnings. For these acquired businesses to achieve acceptable levels of profitability, we would have to improve their management, operations, products and market penetration. We may not be successful in this regard and may encounter other difficulties in integrating acquired businesses into our existing operations, such as incompatible management, information or other systems, cultural differences, loss of key personnel, unforeseen regulatory requirements, previously undisclosed liabilities or difficulties in predicting financial results. We may lose the right to utilize licensed technologies which could limit our ability to offer products incorporating such technologies. To finance our acquisitions, we may have to raise additional funds, either through public or private financings. We may be unable to obtain such funds or may be able to do so only on terms unacceptable to us. We may also incur expenses related to completing acquisitions or licensing technologies, or in evaluating potential acquisitions or technologies, which may adversely impact our profitability.
Additionally, if we are unable to execute on divestitures we have undertaken, such as our recently announced decision to divest our Immunodiagnostics business in China, we may be unable to achieve our strategic objectives, could incur unexpected transaction costs and may disrupt our ongoing business operations.
If we do not compete effectively, our business will be harmed.
We encounter aggressive competition from numerous competitors in many areas of our business. We may not be able to compete effectively with all of these competitors. To remain competitive, we must develop new products and periodically enhance our existing products. We anticipate that we may also have to adjust the prices of many of our products to stay competitive. In addition, new competitors, technologies or market trends may emerge to threaten or reduce the value of entire product lines.
Our quarterly operating results could be subject to significant fluctuation, and we may not be able to adjust our operations to effectively address changes we do not anticipate, which could increase the volatility of our stock price and potentially cause losses to our shareholders.
Given the nature of the markets in which we participate, we cannot reliably predict future revenue and profitability. Changes in competitive, market and economic conditions may require us to adjust our operations, and we may not be able to make those adjustments or make them quickly enough to adapt to changing conditions. A high proportion of our costs are fixed in the short term, due in part to our research and development and manufacturing costs. As a result, small declines in sales could disproportionately affect our operating results in a quarter. Factors that may affect our quarterly operating results include:
•demand for and market acceptance of our products,
•competitive pressures resulting in lower selling prices,
•changes in the level of economic activity in regions in which we do business, including as a result of war, global health crises or pandemics,
•changes in trade policy applicable to the regions in which we do business, including changes in U.S. trade policies or the imposition of higher tariffs on products being shipped into and from the U.S.,
•changes in general economic conditions or government funding,
•settlements of income tax audits,
•expenses incurred in connection with claims related to environmental conditions at locations where we conduct or formerly conducted operations,
•contract terminations, adverse litigation outcomes, and litigation costs,
•differing tax laws and changes in those laws (including the enactment by countries of the Organization for Economic Cooperation and Development (OECD) Base Erosion and Profit Shifting Pillar Two, which would impose a minimum corporate income tax rate of at least 15%, subject to certain safe harbors), or changes in the countries in which we are subject to taxation,
•changes in our effective tax rate,
•changes in industries, such as pharmaceutical and biomedical,
•changes in the portions of our revenue represented by our various products and customers,
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•our ability to introduce new products,
•our competitors’ announcement or introduction of new products, services or technological innovations,
•costs of raw materials, labor, energy, supplies, transportation or other indirect costs,
•changes in healthcare or other reimbursement rates paid by government agencies and other third parties for certain of our products and services,
•our ability to realize the benefit of ongoing productivity initiatives,
•changes in the volume or timing of product orders,
•fluctuation in the expense related to the mark-to-market adjustment on postretirement benefit plans,
•changes in our assumptions underlying future funding of pension obligations,
•changes in assumptions used to determine contingent consideration in acquisitions, and
•changes in foreign currency exchange rates.
A significant disruption in third-party package delivery and import/export services, or significant increases in prices for those services, could interfere with our ability to ship products, increase our costs and lower our profitability.
We ship a significant portion of our products to our customers through independent package delivery and import/export companies, including UPS and Federal Express in the United States; TNT, UPS and DHL in Europe; and UPS in Asia. We also ship our products through other carriers, including commercial airlines, freight carriers, national trucking firms, overnight carrier services and the United States Postal Service. If one or more of the package delivery or import/export providers experiences a significant disruption in services or institutes a significant price increase, we may have to seek alternative providers and the delivery of our products could be prevented or delayed. Such events could cause us to incur increased shipping costs that could not be passed on to our customers, negatively impacting our profitability and our relationships with certain of our customers.
Disruptions in the supply of raw materials, certain key components and other goods from our limited or single source suppliers could have an adverse effect on the results of our business operations, and could damage our relationships with customers.
The production of our products requires a wide variety of raw materials, key components and other goods that are generally available from alternate sources of supply. However, certain critical raw materials, key components and other goods required for the production and sale of some of our principal products are available from limited or single sources of supply. We generally have multi-year contracts with no minimum purchase requirements with these suppliers, but those contracts may not fully protect us from a failure by certain suppliers to supply critical materials or from the delays inherent in being required to change suppliers and, in some cases, validate new raw materials. Such raw materials, key components and other goods can usually be obtained from alternative sources with the potential for an increase in price, decline in quality or delay in delivery. A prolonged inability to obtain certain raw materials, key components or other goods is possible and could have an adverse effect on our business operations, and could damage our relationships with customers. In addition, global health crises or pandemics, actual or threatened tariffs, wars, conflicts, or other changes in a country’s or region’s political or economic conditions, could have a significant adverse effect on our supply chain.
We are subject to the rules of the Securities and Exchange Commission requiring disclosure as to whether certain materials known as conflict minerals (tantalum, tin, gold, tungsten and their derivatives) that may be contained in our products are mined from the Democratic Republic of the Congo and adjoining countries. As a result of these rules, we may incur additional costs in complying with the disclosure requirements and in satisfying those customers who require that the components used in our products be certified as conflict-free, and the potential lack of availability of these materials at competitive prices could increase our production costs.
If we do not retain our key personnel, our ability to execute our business strategy will be limited.
Our success depends to a significant extent upon the continued service of our executive officers and key management and technical personnel, particularly our experienced engineers and scientists, and on our ability to continue to attract, retain, and motivate qualified personnel. The competition for these employees is intense. The loss of the services of key personnel could have a material adverse effect on our operating results. In addition, there could be a material adverse effect on us should the turnover rates for key personnel increase significantly or if we are unable to continue to attract qualified personnel. We do not maintain any key person life insurance policies on any of our officers or employees.
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Our success also depends on our ability to execute leadership succession plans. The inability to successfully transition key management roles could have a material adverse effect on our operating results.
If we experience a significant disruption in, or breach in security of, our information technology systems or those of our customers, suppliers or other third parties, or cybercrime, resulting in inappropriate access to or inadvertent transfer of information or assets or result in a ransom demand from a third party, or if we fail to implement new systems, software and technologies successfully, our business could be adversely affected.
We rely on several centralized information technology systems throughout our company to develop, manufacture and provide products and services, keep financial records, process orders, manage inventory, process shipments to customers and operate other critical functions. Our and our third-party service providers' information technology systems may be susceptible to damage, disruptions or shutdowns due to power outages, hardware failures, computer viruses, attacks by computer hackers, telecommunication failures, user errors, catastrophes or other unforeseen events. The risk of a security breach or disruption through cyber-attacks has generally increased as the number, intensity and sophistication of attempted attacks from around the world have increased. For example, many companies have experienced an increase in phishing and social engineering attacks from third parties. If we were to experience a prolonged system disruption in the information technology systems that involve our interactions with customers, suppliers or other third parties, it could result in the loss of sales and customers and significant incremental costs, which could adversely affect our business. In addition, security breaches of our information technology systems or cybercrime, resulting in inappropriate access to or inadvertent transfer of information or assets, could result in losses or misappropriation of assets, ransom demands by third parties, or unauthorized disclosure of confidential information belonging to us or to our employees, partners, customers or suppliers, which could result in our suffering significant financial or reputational damage.
Uncertainties related to the development, deployment and use of AI to advance our product offerings and improve internal operations may result in harm to our business and reputation.
We are advancing AI across our product and service offerings, and we are in the initial phases of expanding AI into the core functions of our business. The development and deployment of AI presents both risks and opportunities, and the implementation process could adversely impact the operations of our business as a whole. AI algorithms utilized in the deployment may be flawed or based on datasets that are biased or insufficient, and do not adequately take into account the underlying nature of our business. Failure to adequately train our employees during the deployment of AI could adversely impact our business or result in delays or errors in our offerings. Our competitiveness could also be negatively impacted by our failure to timely develop or deploy AI in our products and services, particularly if our competitors are successful in AI advancements in their products and services. The development of AI technology will require significant investment in resources and human capital and could increase our costs. There is uncertainty related to the legal and regulatory landscape surrounding rapidly evolving AI technologies, particularly in the areas of cybersecurity, intellectual property, and privacy and data protection. Failure to comply or appropriately respond to this developing landscape may result in increased legal liability, adverse regulatory action, or reputational damage.
Our results of operations will be adversely affected if we fail to realize the full value of our intangible assets.
As of April 5, 2026, our total assets included $8.9 billion of net intangible assets. Net intangible assets consist principally of goodwill associated with acquisitions and costs associated with securing patent rights, trademark rights, customer relationships, core technology and technology licenses, net of accumulated amortization. We test goodwill at least annually for potential impairment by comparing the carrying value to the fair value of the reporting unit to which it is assigned. All of our amortizing intangible assets are also evaluated for impairment should events occur that call into question the value of the intangible assets.
Adverse changes in our business, adverse changes in the key valuation assumptions used to determine the fair value of our reporting units, or the failure to grow our Life Sciences and Diagnostics segments, could result in an impairment of our intangible assets, which could adversely affect our results of operations.
Risks Related to our Intellectual Property
We may not be successful in adequately protecting our intellectual property.
Patent and trade secret protection is important to us because developing new products, processes and technologies gives us a competitive advantage, although it is time-consuming and expensive. We own many United States and foreign patents and intend to apply for additional patents. Patent applications we file, however, may not result in issued patents or, if they do, the claims allowed in the patents may be narrower than what is needed to protect fully our products, processes and technologies.
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The expiration of our previously issued patents may cause us to lose a competitive advantage in certain of the products and services we provide. Similarly, applications to register our trademarks may not be granted in all countries in which they are filed. For our intellectual property that is protected by keeping it secret, such as trade secrets and know-how, we may not use adequate measures to protect this intellectual property.
Third parties have in the past and may in the future also challenge the validity of our issued patents, may circumvent or “design around” our patents and patent applications, or claim that our products, processes or technologies infringe their patents. In addition, third parties may assert that our product names infringe their trademarks. We may incur significant expense in legal proceedings to protect our intellectual property against infringement by third parties or to defend against claims of infringement by third parties. Claims by third parties in pending or future lawsuits could result in awards of substantial damages against us or court orders that could effectively prevent us from manufacturing, using, importing or selling our products in the United States or other countries.
If we are unable to renew our licenses or otherwise lose our licensed rights, we may have to stop selling products or we may lose competitive advantage.
We may not be able to renew or otherwise lose our right to utilize our existing licenses, or licenses we may obtain in the future, on terms acceptable to us, or at all. If we lose the rights to a patented or other proprietary technology, we may need to stop selling products incorporating that technology and possibly other products, redesign our products or lose a competitive advantage. Potential competitors could in-license technologies that we fail to license and potentially erode our market share.
Our licenses typically subject us to various economic and commercialization obligations. If we fail to comply with these obligations, we could lose important rights under a license, such as the right to exclusivity in a market, or incur losses for failing to comply with our contractual obligations. In some cases, we could lose all rights under the license. In addition, rights granted under the license could be lost for reasons out of our control. For example, the licensor could lose patent protection for a number of reasons, including invalidity of the licensed patent, or a third-party could obtain a patent that curtails our freedom to operate under one or more licenses.
Risks Related to Legal, Government and Regulatory Matters
The manufacture and sale of products and services may expose us to product and other liability claims for which we could have substantial liability.
We face an inherent business risk of exposure to product and other liability claims if our products, services or product candidates are alleged or found to have caused injury, damage or loss. We may be unable to obtain insurance with adequate levels of coverage for potential liability on acceptable terms or claims of this nature may be excluded from coverage under the terms of any insurance policy that we obtain. If we are unable to obtain such insurance or the amounts of any claims successfully brought against us substantially exceed our coverage, then our business could be adversely impacted.
If we fail to maintain satisfactory compliance with the regulations of the United States Food and Drug Administration and other governmental agencies in the United States and abroad, we may be forced to recall products and cease their manufacture and distribution, and we could be subject to civil, criminal or monetary penalties.
Our operations are subject to regulation by different state and federal government agencies in the United States and other countries, as well as to the standards established by international standards bodies. If we fail to comply with those regulations or standards, we could be subject to fines, penalties, criminal prosecution or other sanctions. Some of our products are subject to regulation by the United States Food and Drug Administration and similar foreign and domestic agencies. These regulations govern a wide variety of product activities, from design and development to labeling, manufacturing, promotion, sales and distribution. If we fail to comply with those regulations or standards, we may have to recall products, cease their manufacture and distribution, and may be subject to fines or criminal prosecution.
We are also subject to a variety of laws, regulations and standards that govern, among other things, the importation and exportation of products, the handling, transportation and manufacture of toxic or hazardous substances, the collection, storage, transfer, use, disclosure, retention and other processing of personal data, and our business practices in the United States and abroad such as anti-bribery, anti-corruption and competition laws. This requires that we devote substantial resources to maintaining our compliance with those laws, regulations and standards. A failure to do so could result in the imposition of civil, criminal or monetary penalties having a material adverse effect on our operations.
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We are subject to stringent data privacy and information security laws and regulations and changes in such laws or regulations, or our failure to comply with such requirements, could subject us to significant fines and penalties, which may have a material adverse effect on our business, financial condition or results of operations.
We are subject to data privacy and information security laws and regulations that apply to the collection, transmission, storage and use of personally identifying information, which among other things, impose certain requirements relating to the privacy, security and transmission of personal information, including comprehensive regulatory systems in the United States, European Union and the United Kingdom. The legislative and regulatory landscape for privacy and data protection continues to evolve in jurisdictions worldwide, and there has been an increasing focus on privacy and data protection issues with the potential to affect our business. Failure to comply with any of these laws or regulations could result in enforcement actions against us, including fines, claims for damages by affected individuals, damage to our reputation and loss of goodwill, any of which could have a material adverse effect on our business, financial condition, results of operations or prospects.
Changes in governmental regulations may reduce demand for our products or increase our expenses.
We compete in markets in which we or our customers must comply with federal, state, local and foreign regulations, such as environmental, health and safety, data privacy and food and drug regulations. We develop, configure and market our products to meet customer needs created by these regulations. Any significant change in these regulations could reduce demand for our products or increase our costs of producing these products.
The healthcare industry is highly regulated and if we fail to comply with its extensive system of laws and regulations, we could suffer fines and penalties or be required to make significant changes to our operations which could have a significant adverse effect on the results of our business operations.
The healthcare industry, including the genetic screening market, is subject to extensive and frequently changing international and United States federal, state and local laws and regulations. In addition, legislative provisions relating to healthcare fraud and abuse, patient privacy violations and misconduct involving government insurance programs provide federal enforcement personnel with substantial powers and remedies to pursue suspected violations. Increasing uncertainty in the United States regarding regulation in the healthcare space could subject our business to new or modified regulations. If we fail to comply with applicable laws and regulations, we could suffer civil and criminal damages, fines and penalties, exclusion from participation in governmental healthcare programs, and the loss of various licenses, certificates and authorizations necessary to operate our business, as well as incur liabilities from third-party claims, all of which could have a significant adverse effect on our business.
Risks Related to our Foreign Operations
    Economic, political and other risks associated with foreign operations could adversely affect our international sales and profitability.
Because we sell our products worldwide, our businesses are subject to risks associated with doing business internationally. Our sales originating outside the United States represented the majority of our total revenue in fiscal year 2025. We anticipate that sales from international operations will continue to represent a substantial portion of our total revenue. In addition, many of our manufacturing facilities, employees and suppliers are located outside the United States. Accordingly, our future results of operations could be harmed by a variety of factors, including:
•changes in actual, or from projected, foreign currency exchange rates,
•global health crises of unknown duration,
•wars, conflicts, or other changes in a country’s or region’s political or economic conditions, particularly in developing or emerging markets,
•longer payment cycles of foreign customers and timing of collections in foreign jurisdictions,
•trade protection measures including embargoes, sanctions and tariffs, as well as the sanctions and other restrictions implemented by the United States and other governments on the Russian Federation and related parties in connection with the conflict in Ukraine,
•import or export licensing requirements and the associated potential for delays or restrictions in the shipment of our products or the receipt of products from our suppliers,
•policies in foreign countries benefiting domestic manufacturers or other policies detrimental to companies headquartered in the United States,
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•differing tax laws and changes in those laws, or changes in the countries in which we are subject to tax,
•adverse income tax audit settlements or loss of previously negotiated tax incentives,
•differing business practices associated with foreign operations,
•difficulty in transferring cash between international operations and the United States,
•difficulty in staffing and managing widespread operations,
•differing labor laws and changes in those laws,
•differing protection of intellectual property and changes in that protection,
•expanded enforcement of laws related to data protection and personal privacy,
•increasing global enforcement of anti-bribery and anti-corruption laws, and
•differing regulatory requirements and changes in those requirements.
We cannot predict the scope, timing, or impact of threatened U.S. tariffs on imports, the extent to which other countries may impose retaliatory trade restrictions, or the terms of future trade policy changes. Tariffs implemented during fiscal year 2025 increased our cost of revenue by approximately $25 million and reduced our gross margin by approximately $20 million, primarily affecting products manufactured in Europe for the U.S. market. While we have implemented mitigation strategies including manufacturing optimization, supplier collaboration, pricing adjustments, and temporary cost measures, these actions may not fully offset the impact of existing or future tariffs. Additional tariffs or trade restrictions may materially and adversely affect our results of operations, financial condition, and competitive position.
Risks Related to our Debt
We have a substantial amount of outstanding debt, which could impact our ability to obtain future financing and limit our ability to make other expenditures in the conduct of our business.
    
We have a substantial amount of debt and other financial obligations. Our debt level and related debt service obligations could have negative consequences, including:
•requiring us to dedicate significant cash flow from operations to the payment of principal and interest on our debt, which reduces the funds we have available for other purposes, such as acquisitions and stock repurchases;
•reducing our flexibility in planning for or reacting to changes in our business and market conditions;
•exposing us to interest rate risk as a portion of our debt obligations are at variable rates;
•increasing our foreign currency risk as a portion of our debt obligations are in denominations other than the U.S. dollar; and
•increasing the chances of a downgrade of our debt ratings due to the amount or intended purpose of our debt obligations.
We may incur additional indebtedness in the future to meet future financing needs. If we add new debt, the risks described above could increase. In addition, the market for both public and private debt offerings has experienced liquidity concerns and increased volatility, which could ultimately increase our borrowing costs and limit our ability to obtain future financing.
Restrictions in our senior unsecured revolving credit facility and other debt instruments may limit our activities.
Our senior unsecured revolving credit facility, senior unsecured notes due in 2026 (“2026 Notes”), senior unsecured notes due in 2028 (“2028 Notes”), senior unsecured notes due in 2029 (“2029 Notes”), senior unsecured notes due in March 2031 (“March 2031 Notes”), senior unsecured notes due in September 2031 (“September 2031 Notes”) and senior unsecured notes due in 2051 (“2051 Notes”) include restrictive covenants that limit our ability to engage in activities that could otherwise benefit our company. These include restrictions on our ability and the ability of our subsidiaries to:
•pay dividends on, redeem or repurchase our capital stock,
•sell assets,
•incur obligations that restrict our subsidiaries’ ability to make dividend or other payments to us,
•guarantee or secure indebtedness,
37
•enter into transactions with affiliates, and
•consolidate, merge or transfer all, or substantially all, of our assets and the assets of our subsidiaries on a consolidated basis.
We are also required to meet specified financial ratios under the terms of certain of our existing debt instruments. Our ability to comply with these financial restrictions and covenants is dependent on our future performance, which is subject to prevailing economic conditions and other factors, including factors that are beyond our control, such as foreign exchange rates, interest rates, changes in technology and changes in the level of competition. In addition, if we are unable to maintain our investment grade credit rating, our borrowing costs would increase and we would be subject to different and potentially more restrictive financial covenants under some of our existing debt instruments.
Any future indebtedness that we incur may include similar or more restrictive covenants. Our failure to comply with any of the restrictions in our new senior unsecured revolving credit facility that we entered into in January 2025, the 2026 Notes, the 2028 Notes, the 2029 Notes, the March 2031 Notes, the September 2031 Notes and the 2051 Notes, or any future indebtedness may result in an event of default under those debt instruments, which could permit acceleration of the debt under those debt instruments, and require us to prepay that debt before its scheduled due date under certain circumstances.
Risks Related to Ownership of our Common Stock
Our share price will fluctuate.
Over the last several years, stock markets in general and our common stock in particular have experienced significant price and volume volatility. Both the market price and the daily trading volume of our common stock may continue to be subject to significant fluctuations due not only to general stock market conditions but also to a change in sentiment in the market regarding our operations and business prospects. In addition to the risk factors discussed above, the price and volume volatility of our common stock may be affected by:
•operating results that vary from our financial guidance or the expectations of securities analysts and investors,
•the financial performance of the major end markets that we target,
•the operating and securities price performance of companies that investors consider to be comparable to us,
•announcements of strategic developments, acquisitions and other material events by us or our competitors,
•changes in global financial markets and global economies and general market conditions, such as interest or foreign exchange rates, inflation, freight costs, commodity and equity prices and the value of financial assets, and
•changes to economic conditions arising from global health crises and pandemics, climate change, trade policy or from wars or conflicts.
Dividends on our common stock could be reduced or eliminated in the future.
On January 26, 2026, we announced that our Board of Directors (our “Board”) had declared a quarterly dividend of $0.07 per share for the first quarter of fiscal year 2026 that was paid in May 2026. On April 30, 2026, we announced that our Board had declared a quarterly dividend of $0.07 per share for the second quarter of fiscal year 2026 that will be payable in August 2026. 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.


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Item 2.Unregistered Sales of Equity Securities and Use of Proceeds
Stock Repurchases
The following table provides information with respect to the shares of common stock repurchased by us for the periods indicated.
 Issuer Repurchases of Equity Securities
Period
Total Number
of Shares
Purchased(1)
Average Price
Paid Per
Share
Total Number of
Shares Purchased as
Part of Publicly
Announced Plans or
Programs(2)
Maximum Number (or Approximate Dollar Value)
Shares that May Yet
Be Purchased
Under the Plans or
Programs(2)
December 29, 2025 — February 1, 2026487,654 $106.05 487,279 $827,851,044 
February 2, 2026 — March 1, 2026171,590 101.02 121,628 815,353,943 
March 2, 2026 — April 5, 2026176,013 84.75 175,235 800,510,096 
Activity for quarter ended April 5, 2026835,257 $100.53 784,142 $800,510,096 
 ____________________
(1)Our Board of Directors (our “Board”) has authorized us to repurchase shares of common stock to satisfy minimum statutory tax withholding obligations in connection with the vesting of restricted stock awards and restricted stock unit awards granted pursuant to our equity incentive plans and to satisfy obligations related to the exercise of stock options made pursuant to our equity incentive plans. During the three months ended April 5, 2026, we repurchased 51,115 shares of common stock for this purpose at an aggregate cost of $5.0 million.

(2)On October 23, 2025, 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 22, 2027 unless terminated earlier by our Board and may be suspended or discontinued at any time.

Item 5.Other Information
Rule 10b5-1 Trading Plans
During the three months ended April 5, 2026, Joel S. Goldberg and Prahlad Singh, each an officer for purposes of Section 16 of the Securities Exchange Act of 1934, adopted a “Rule 10b5-1 trading arrangement” as the term is defined in Item 408(a) of Regulation S-K.
 
Rule 10b5-1 Trading Arrangements
NamePositionTrading Arrangement Adoption DateDuration of Trading ArrangementAggregate Number of Securities to be Sold under the Trading Arrangement
Joel S. GoldbergSenior Vice President, Administration, General Counsel and SecretaryFebruary 10, 2026January 29, 2027 -
February 1, 2027		Up to 13,313 shares of common stock
Prahlad SinghPresident and Chief Executive OfficerFebruary 11, 2026January 29, 2027 -
February 1, 2027		Up to 47,580 shares of common stock
 
During the three months ended April 5, 2026, none of our directors or officers adopted a “non-Rule 10b5-1 trading arrangement” or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement” as the terms are defined in Item 408(a) of Regulation S-K.

39
Table of Contents
Item 6.Exhibits
 
Exhibit
Number
  Exhibit Name
3.1
31.1  
31.2  
32.1  
101.INS  Inline XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
101.SCH  Inline XBRL Taxonomy Extension Schema Document.
101.CAL  Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF  Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB  Inline XBRL Taxonomy Extension Labels Linkbase Document.
101.PRE  Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104Cover Page Interactive Data File (formatted as inline XBRL with applicable taxonomy extension information contained in Exhibits 101).
____________________________

Attached as Exhibit 101 to this report are the following formatted in XBRL (Extensible Business Reporting Language):  
(i) Cover Page, Form 10-Q, Quarterly Report for the quarterly period ended April 5, 2026 (ii) Condensed Consolidated Statements of Operations for the three months ended April 5, 2026 and March 30, 2025, (iii) Condensed Consolidated Statements of Comprehensive Income for the three months ended April 5, 2026 and March 30, 2025, (iv) Condensed Consolidated Balance Sheets at April 5, 2026 and December 28, 2025, (v) Condensed Consolidated Statements of Stockholders’ Equity for the three months ended April 5, 2026 and March 30, 2025, (vi) Condensed Consolidated Statements of Cash Flows for the three months ended April 5, 2026 and March 30, 2025, and (vii) Notes to Condensed Consolidated Financial Statements.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
REVVITY, INC.
May 12, 2026By:
/s/    MAXWELL KRAKOWIAK
Maxwell Krakowiak
Senior Vice President and Chief Financial Officer
(Principal Financial Officer)
 
REVVITY, INC.
May 12, 2026By:
/s/    ANITA GONZALES
Anita Gonzales
Vice President and Chief Accounting Officer
(Principal Accounting Officer)

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