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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 12, 2025
 
Revvity, Inc.
(Exact Name of Registrant as Specified in its Charter)
 
 
Massachusetts001-0507504-2052042
(State or Other Jurisdiction
of Incorporation or Organization)
(Commission
File Number)
(IRS Employer
Identification No.)
 
77 4th Avenue,Waltham,Massachusetts02451
(Address of Principal Executive Offices)(Zip Code)
Registrant’s telephone number, including area code: (781) 663-6900
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading 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 is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company   ☐
If an emerging growth company, indicate by check mark if 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.  ☐

 
 
 


Item 2.02. Results of Operations and Financial Condition

    On January 12, 2025, Revvity, Inc. (the “Company”) announced preliminary expectations with respect to certain financial results for the fourth quarter ended December 29, 2024 and announced that the Company will release its fourth quarter and full year 2024 financial results on January 31, 2025. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

    The information in this Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 7.01. Regulation FD Disclosure

On January 13, 2025, Dr. Prahlad Singh, President and Chief Executive Officer of the Company, is scheduled to make a presentation to the 43rd Annual J. P. Morgan Healthcare Conference. A copy of the presentation materials is furnished as Exhibit 99.2 to this Current Report on Form 8-K.

The information in this Form 8-K (including Exhibit 99.1 and Exhibit 99.2) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits

(d)    Exhibits

                        EXHIBIT INDEX


* This exhibit relating to Item 2.02 and 7.01 shall be deemed to be furnished, and not filed..


SIGNATURE
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 hereunto duly authorized.



REVVITY, INC.
Date: January 13, 2025
By: /s/ Maxwell Krakowiak
Maxwell Krakowiak
Senior Vice President and Chief Financial Officer




Revvity to Hold Earnings Call on Friday, January 31, 2025; Provides Update on Financial Performance

WALTHAM, Mass. - January 12, 2025 – Revvity, Inc. (NYSE: RVTY), today announced that it will release its fourth quarter and full year 2024 financial results prior to market open on Friday, January 31, 2025. The Company will host a conference call the same day at 8:00 a.m. ET to discuss these results. Prahlad Singh, president and chief executive officer, and Max Krakowiak, chief financial officer, will host the conference call.

To access the call, a live audio webcast will be available via this registration form or on the Investors section of the Company's website.

Update on Financial Performance

The Company is also providing the following preliminary financial results for the fourth quarter 2024:

•Reported and organic revenue growth for the fourth quarter is expected to be approximately 5% and 6%, respectively, as compared to the same period a year ago. This is expected to result in fourth quarter revenue of approximately $730 million.

The Company also now expects its full year 2024 adjusted earnings per share to meet or exceed the guidance provided on November 4, 2024.

J.P. Morgan Healthcare Conference

As previously announced, Prahlad Singh, will present at 8:15 a.m. PT tomorrow (January 13, 2025) at the 43rd annual J.P. Morgan Healthcare Conference. A live audio webcast of the presentation will be available via this page. A copy of the accompanying slide presentation will be made available on the Investors section of the Company’s website.
Use of Non-GAAP Financial Measures

In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings announcement also contains non-GAAP financial measures. The reasons that we use these measures, a reconciliation of these measures to the most directly comparable GAAP measures, and other information relating to these measures are included below under Explanation of Non-GAAP Financial Measures.

Full year 2024 adjusted earnings per share guidance is provided on a non-GAAP basis and cannot be reconciled to the closest GAAP measures without unreasonable effort due to the unpredictability of the amounts and timing of events affecting the items the Company excludes from these non-GAAP measures. The timing and amounts of such events and items could be material to the Company’s results prepared in accordance with GAAP.

Factors Affecting Future Performance

This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to estimates and projections of future adjusted earnings per share, revenue, revenue growth and other financial results. Words such as "believes," "intends," "anticipates," "plans," "expects," "estimates," "projects," "forecasts," "will" and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management's current assumptions and expectations and no assurances can be given that our assumptions or expectations will prove to be correct. A number


of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. These factors include, without limitation: the completion of quarterly and year end closing procedures for the fourth quarter and fiscal year ended December 29, 2024 and other factors which we describe under the caption "Risk Factors" in our most recent quarterly report on Form 10-Q and in our other filings with the Securities and Exchange Commission. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

About Revvity

At Revvity, “impossible” is inspiration, and “can’t be done” is a call to action. Revvity provides 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.

With 2023 revenue of more than $2.7 billion and over 11,000 employees, Revvity serves customers across pharmaceutical and biotech, diagnostic labs, academia and governments. It is part of the S&P 500 index and has customers in more than 190 countries.

Stay updated by following our Newsroom, LinkedIn, X, YouTube, Facebook and Instagram.


Revvity, Inc. and Subsidiaries
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (1)


Continuing Operations
Three Months Ended
December 29, 2024
Projected
Organic revenue growth:
Reported revenue growth from continuing operations5%
Less: effect of foreign exchange rates-1%
Less: effect of acquisitions including purchase accounting adjustments and impact of divested businesses0%
  Organic revenue growth from continuing operations6%
(1) amounts may not sum due to rounding

Explanation of Non-GAAP Financial Measures

We report our financial results in accordance with GAAP. However, management believes that, in order to more fully understand our short-term and long-term financial and operational trends, investors may wish to consider the impact of certain non-cash, non-recurring or other items, which result from facts and circumstances that vary in frequency and impact on continuing operations. Accordingly, we present non-GAAP financial measures as a supplement to the financial measures we present in accordance with GAAP. These non-GAAP financial measures provide management with additional means to understand and evaluate the operating results and trends in our ongoing business by adjusting for certain non-cash expenses and other items that management believes might otherwise make comparisons of our ongoing business with prior periods more difficult, obscure trends in ongoing operations, or reduce management's ability to make useful forecasts. Management believes these non-GAAP financial measures provide additional means of evaluating period-over-period operating performance. In addition, management understands that some investors and financial analysts find this information helpful in analyzing our financial and operational performance and comparing this performance to our peers and competitors.

We use the term “organic revenue” to refer to GAAP revenue, excluding the effect of foreign currency changes and revenue from recent acquisitions and divestitures and including purchase accounting adjustments for revenue from contracts acquired in acquisitions that will not be fully recognized due to accounting rules. We use the related term “organic revenue growth” or “organic growth” to refer to the measure of comparing current period organic revenue with the corresponding period of the prior year.

Management includes or excludes the effect of the item identified below in the applicable non-GAAP financial measure referenced above for the reasons set forth below with respect to that item:
•Revenue from contracts acquired in acquisitions that will not be fully recognized due to accounting rules — accounting rules require us to account for the fair value of revenue from contracts assumed in connection with our acquisitions. As a result, our GAAP results reflect the fair value of those revenues, which is not the same as the revenue that otherwise would have been recorded by the acquired entity. We include such revenue in our non-GAAP measures because we believe the fair value of such revenue does not accurately reflect the performance of our ongoing operations for the period in which such revenue is recorded.



The non-GAAP financial measures described above are not meant to be considered superior to, or a substitute for, our financial statements prepared in accordance with GAAP. There are material limitations associated with non-GAAP financial measures because they exclude charges that have an effect on our reported results and, therefore, should not be relied upon as the sole financial measures by which to evaluate our financial results. Management compensates and believes that investors should compensate for these limitations by viewing the non-GAAP financial measures in conjunction with the GAAP financial measures. In addition, the non-GAAP financial measures included in this earnings announcement may be different from, and therefore may not be comparable to, similar measures used by other companies.

Each of the non-GAAP financial measures listed above is also used by our management to evaluate our operating performance, communicate our financial results to our Board of Directors, benchmark our results against our historical performance and the performance of our peers, evaluate investment opportunities including acquisitions and discontinued operations, and determine the bonus payments for senior management and employees.

Investor Relations:
Steve Willoughby
steve.willoughby@revvity.com

Media Relations:
Chet Murray
(781) 462-5126
chet.murray@revvity.com



J.P. Morgan Healthcare Conference January 13, 2025

 
Safe Harbor 2 This presentation contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to statements relating to estimates and projections of future earnings per share, cash flow and revenue growth and other financial results, developments relating to the Company’s customers and end-markets, plans concerning business development opportunities, and acquisitions or divestitures. Words such as "believes," "intends," "anticipates," "plans," "expects," "projects," "forecasts," "will" and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management's current assumptions and expectations and no assurances can be given that the Company’s assumptions or expectations will prove to be correct. A number of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. A detailed description of these risk factors can be found under the caption “Risk Factors” in the Company’s most recent quarterly report on Form 10-Q and in the Company’s other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this presentation. In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this presentation also includes non-GAAP financial measures. Guidance for future periods is provided on a non-GAAP basis and cannot be reconciled to the closest GAAP measures without unreasonable effort due to the unpredictability of the amounts and timing of events affecting the items the Company excludes from these non-GAAP measures. The amounts and timing of such events and items could be material to the Company’s results prepared in accordance with GAAP.

 
3 Financial Disclosures Estimated future results and historical growth rates presented and discussed today are based on 2024 guidance as provided on November 4, 2024 (2024E) and include: • Proforma results from recent acquisitions • Non-COVID financials Segment and business unit financial metrics presented and discussed today reflect management’s estimates of the Company’s new operating and reporting structure that became effective in Fiscal Year 2025 (December 30, 2024), and are subject to change Key Definitions: • LSD = 1-3% • MSD = 4-6% • HSD = 7-9% • LDD = 10-12% • LRP = Long-range plan

 
“This is the story you are going to hear… we’re revolutionizing science and transforming human lives with groundbreaking innovation.” 4

 
Where we started We reimagined our portfolio by acquiring leading scientific offerings and expertise 5 Divested Analytical Analytical business across Food and Applied markets Enhanced scientific expertise Higher recurring mix Leading market positions Analytical1/3 Life Sciences1/3 Reproductive Health1/3 Acquired substantial new capabilities Large Molecule Horizon Nexcelom Autoimmune, Allergy and Emerging Infectious Disease Oxford Immunotec IDS Category of One Legacy Today PerkinElmer Brand

 
Revvity at-a-glance 6 An innovative and differentiated Life Sciences and Diagnostics company Segments Geography Products ~45% Americas ~30% APAC ~25% EMEA ~80% Recurring Revenue* ~20% Non-recurring Revenue ~50% Life Sciences ~50% Diagnostics *Consumables, services and software Powered by 11,000+ employees collaborating to pioneer groundbreaking solutions ~$2.8B in revenue (2024E)

 
7 Uniquely positioned in specialized, high-growth markets, serving a diverse customer base Overview Key customers Life Sciences Diagnostics Providing reagents, instruments, software and technology services, enabling pre-clinical R&D discovery and drug development Providing assays, instruments, software and clinical lab services, enabling precision medicine and specialty diagnostic testing Pharma / Biotech Academia / Government Reference Labs Hospitals / Clinics Public Health Labs ~$1.4B ~85% Life Sciences Solutions ~15% Software ~$1.4B ~60% Immuno- diagnostics ~40% Reproductive Health Segment breakdown (2024E) Revenue

 
HSD 5-year historical average organic growth ~33% Adjusted operating margin (2024E) Market overview $30B+ TAM MSD 5-year market CAGR ~15% Software ~85% Life Sciences Solutions ~$1.4B Highly innovative reagents and instrumentation Transformed portfolio Full solutions to enhance customer productivity Pursuing adjacent opportunities for additional growth 8 Life Sciences at-a-glance Segment Revenue (2024E)

 
Signals Software Supporting research informatics and clinical analytics workflows with comprehensive SaaS solutions Strong competitive positioning in innovative areas of Life Sciences 9 Key areas of focus Instruments Reagents Technology and licensing Investigating the function of genes, proteins and cells to accelerate research and drive discovery >75k Reagents offered Gene and cell modulation Microscopy reagentsCell analysis reagents Novel technologies aimed at accelerating innovation Leading instrument platforms for specialty pre-clinical research applications >35k Installed systems >150 Licensees In-vivo imaging High-content screening Automated cell counting Viral vectors Pin-PointTM base editing 1M+ Users

 
Diagnostics at-a-glance 10 ~60% Immunodiagnostics ~40% Reproductive Health Segment Revenue (2024E) ~$1.4B MSD 5-year historical average organic growth ~27% Adjusted operating margin (2024E) Market overview $30B+ TAM MSD 5-year market CAGR Market-leading specialty diagnostics portfolio Complete solutions for screening, early diagnosis, intervention, and informing treatment Driving innovation and expanding global capabilities

 
Newborn screening (NBS) Complete lab solutions from sample to results, ensuring early detection and improved health outcomes Complete NBS workflow management NBS analyzers Comprehensive solutions for high-precision clinical testing 11 Key areas of focus Emerging infectious disease Extensive suite of assays to assess acute and ongoing infections or to follow disease progression Infectious disease assays Autoimmunity and allergy Wide range of assays and innovative automation platforms for fast and accurate diagnostics Automated analyzers Clinical laboratories Global laboratories offer diverse clinical populations to improve diagnostic access and data interpretations Autoimmune assays Cell isolation systems

 
Bridging the gap from discovery to cure 12 as a key player in high-value areas of the drug development lifecycle Discovery and development Diagnosis to cure Screening Screening tools for early diagnosis and intervention Discovery Providing specialty reagents, antibodies and solutions for turning lab discoveries into treatment solutions Commercial Precise tools and technology for improving drug manufacturing Clinical Robust data management and analysis solutions to optimize clinical trials Pre-clinical development Advanced technologies for streamlining drug discovery and development Diagnostics and monitoring Precise technologies for performing clinical diagnosis and informing treatment guidance Focusing on specialized areas requiring innovation, not routine offerings, and connecting our unique capabilities to meet customer needs

 
PRODUCTS POSITIONING APPROACH Uniquely differentiated in three ways: 13

 
Serving our customers as strategic partners 14 APPROACH Pre-clinical drug evaluation Supporting drug discovery Manufacturing drug components Specialty clinical diagnostics Strategic partnerships with Pharma / Biotech across our portfolio to drive additional upside vs. the underlying market

 
Providing high-value, non-commoditized offerings 15 Examples of unique products: PRODUCTS Life Sciences Diagnostics Leading reagents portfolio of solutions for precise and reliable results Novel Antibodies and Specialty Reagents TotalSeqTM Comprehensive and scalable suite of data management and workflow solutions for scientists Research Platform Unmatched breadth and depth of reproductive health offerings Automated Newborn Screening Workflow Eonis Q System Automated Indirect Immunofluorescence Testing Products that empower customers to drive scientific insights and advance innovative solutions Broad menu of autoimmune tests supported by differentiated automation solutions Autoimmune Testing MenuUNIQO 160

 
Driving faster growth and greater profitability… 16 POSITIONING Reaffirming our LRP financial targets: 6-8% organic growth in normal market environment (+MSD) Business Unit PositioningLRP Growth Profile Life Sciences Solutions • Differentiated and innovative reagents with complementary pre-clinical instruments • Above-market reagents growth with strong margin profile ~40% 6-8% Immunodiagnostics Software • Cutting-edge scientific innovation drives strong competitive positioning • Strong recurring revenue mix with elevated incremental margins ~40% 9-11% • Growth outperforming global birth rates • Strong incremental margins and cash flow to support continued investment ~20% 2-4%Reproductive Health % of Total ’24E Revenue ~$2.8B

 
…Supported by the implementation of our transformed operating model 17 Driving innovation, customer satisfaction and strong financial performance TalentDigitalizationAgilityAccountability Articulating consistent operating philosophies to bridge strategy and execution Propelling internal innovation and technological advancements to meet customer needs Building dynamic enterprise architecture to drive valuable insights and enable execution Establishing a strong foundational culture to support and develop our talent The Revvity Business Model

 
Strong and differentiated financial outlook 18 Long-term outlook 75bps operating margin expansion 3% Life Sciences: 7-9% Diagnostics: 6-8% Organic revenue growth (200bps above market) 6-8% Double Digits Adj. EPS growth Future capital deployment is incremental to the LRP outlook above

 
Path to normalization to continue into 2025 To be dependent on level of organic growth; significant opportunity remains ~$70M ~20% Formal 2025 guidance to be provided during earnings call on January 31st Market Environment Margin Expansion Net Interest Expense Tax Rate Financial considerations for 2025 19

 
Bringing it all together 20 A Category of One An innovative Life Sciences and Diagnostics company with a unique portfolio and leading positions in high-growth end- markets Well-positioned with high recurring revenue along with compelling growth opportunities and resilient returns A strategic partner to customers bridging the gap from pre-clinical to clinical stages A company with a transformed portfolio that is execution focused A differentiated financial profile with attractive margin expansion potential and meaningful capital deployment opportunities

 
Expanding the boundaries of human potential through science 21

 
v3.24.4
Cover
Jan. 12, 2025
Cover [Abstract]  
Document Type 8-K
Document Information [Line Items]  
Entity Registrant Name Revvity, Inc.
Document Period End Date Jan. 12, 2025
Entity Incorporation, State or Country Code MA
Entity File Number 001-05075
Entity Tax Identification Number 04-2052042
Entity Address, Address Line One 77 4th Avenue,
Entity Address, City or Town Waltham,
Entity Address, State or Province MA
Entity Address, Postal Zip Code 02451
City Area Code 781
Local Phone Number 663-6900
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0000031791
Amendment Flag false
Common Stock  
Document Information [Line Items]  
Title of 12(b) Security Common stock, $1 par value per share
Trading Symbol RVTY
Security Exchange Name NYSE
One875NotesDue2026Member  
Document Information [Line Items]  
Title of 12(b) Security 1.875% Notes due 2026
Trading Symbol RVTY 26
Security Exchange Name NYSE
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