Revvity, Inc. Q1 FY2026 earnings call

• Delivered strong Q1 results with 3% total company organic growth and adjusted operating margins 23.6% above outlook. • Decided to divest immunodiagnostics business in China, which had faced policy-induced headwinds. Signed LOI with local buyer group, expect definitive agreement in next 2 months, closing by end of next year. • Phrama and biotech spending environment improved with positive low single-digit organic growth. Academic and government saw positive growth. • Diagnostics had strong quarter in reproductive health, low double-digit organic growth. • Introduced Xynthetica, BioDesign, LabGistics in software business. Instruments business saw stronger demand for high content screening portfolio. • Transforming internal operations through AI adoption, with high employee adoption rates. Operational efficiency initiatives on pace to be fully completed midyear. • Inviting to Investor Day in New York City on Nov 13

Revvity delivered 3% total company organic growth in Q1. Life Sciences generated $362 million revenue, up 6% reported and 3% organic. Diagnostics generated $349 million revenue, up 8% reported and 4% organic. The immunodiagnostics business in China, representing ~6% of total company revenue last year, will be divested. On pro forma basis, excluding this business, Q1 organic growth would have been 6% and adjusted operating margins 24%. For 2026, pro forma organic growth expected 3%-4%, adjusted operating margins 28.4%, adjusted EPS $5.20-$5.30

• 2026 pro forma organic growth expected 3%-4%. • Total revenue expected $2.81B-$2.84B. • Adjusted operating margins expected 28.4%. • Adjusted EPS expected $5.20-$5.30. • Q2 pro forma organic growth expected 2%-3%, total revenue $699M-$707M, adjusted EPS ~23% of full year outlook

• The health care market in China, particularly diagnostics, faced persistent policy-induced headwinds impacting customer demand and pricing dynamics. • Uncertainty regarding policies and regulations in end markets like pharma, academic, and diagnostics

Q: On software SaaS piece, recent customer conversations and cadence.

A: Engagement high, Xynthetica, BioDesign, LabGistics launches this year. Software organic growth mid-single digits full year, Q1 mid-single, Q2 tough comps down ~20%, second half high teens.

Q: On reagents business, biotech funding.

A: Positively stable, better performance in Q1, signs of improvement.

Q: On portfolio, China DX divestment, appetite for further M&A.

A: China divestiture fortifies LRP, will continue to be acquisitive and opportunistic on share buyback.

Q: On divestment impact on model, future years.

A: Fortifies LRP, share buyback opportunity, cost efficiency initiatives will offset earnings dilution.

Q: On biopharma, when turn.

A: Slowly moving in right direction, low single-digit growth in Q1 from pharma/biotech.

Q: On operating margins, gives and takes.

A: Q1 margin beat from extra volume, Q2 to Q3 step-up from cost productivity initiatives, Q3 to Q4 seasonal volume leverage.

Q: On capital deployment, pruning portfolio, M&A priorities.

A: Continue to be acquisitive, look at tuck-ins and share buyback, opportunistic on share buyback