Research · Sep 3, 2026
[RVTY] Revvity Thesis 2026: Post-Split Reset Tests Biotech Funding Cycle Recovery
Revvity Inc. FY2025 revenue ~$2.7-2.9B (+1-3%) with adj. EPS ~$4.70-4.90 reflecting continued biotech funding cycle pressure (post-2021 boom selected funding compression continuing FY2024-2025) + selected China weakness + selected operational reset under continued CEO Prahlad Singh + selected diagnostics segment stability. Life sciences + diagnostics company formed via May 2023 PerkinElmer Inc. split (analytical instruments sold to New Mountain Capital January 2023 for $2.45B; remaining life sciences + diagnostics rebranded Revvity May 2023). Headquartered in Waltham Massachusetts. 2 segments: Life Sciences ~62% ($1.7-1.8B — research instruments + reagents BioLegend antibodies acquired 2021 $5.25B + selected automation + selected research applications biotech/pharma/academic; biotech R&D customer base sensitive to biotech funding cycle) + Diagnostics ~38% ($1.0-1.1B — newborn screening selected market leadership for genetic disorders + congenital conditions + reproductive health prenatal/fertility + selected immunoassay; more stable cycle profile). CEO Prahlad Singh continued post-split as Revvity CEO (PerkinElmer pre-split CEO since 2020; ex-Roper Technologies + selected industrial executive; ~25-year career). Singh tenure executed 2020-2023 PerkinElmer era including BioLegend $5.25B acquisition 2021 + 2023 PerkinElmer Inc. sale to New Mountain Capital $2.45B + May 2023 Revvity rebrand of remaining life sciences + diagnostics business + continued operational reset. Capital return: dividend $0.28-0.32/share + buybacks $200-400M; net debt $3-4B; Baa3/BBB- investment grade. FY2026 thesis: post-split reset + biotech funding recovery + Diagnostics stability + capital return. Risks: biotech funding cycle, China demand, post-split execution.