Revvity, Inc., formerly PerkinElmer, Inc., is a global enterprise headquartered in Waltham, Massachusetts, founded in 1937. With over 11,000 employees across 190 countries, the company operates through two main segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment provides advanced instrumentation, reagents, informatics, and software for ...Revvity, Inc., formerly PerkinElmer, Inc., is a global enterprise headquartered in Waltham, Massachusetts, founded in 1937. With over 11,000 employees across 190 countries, the company operates through two main segments: Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment provides advanced instrumentation, reagents, informatics, and software for life sciences research, including detection and imaging technologies, contract research, and laboratory services. It also supplies analytical tools for environmental health (air, water, soil), agriculture, food safety, and industrial markets (chemicals, semiconductors, electronics, energy, and polymers). The Diagnostics segment focuses on early detection and screening of genetic disorders and infectious diseases, offering instruments, reagents, and software for applications like newborn screening, prenatal testing, and oncology. Revvity leverages next-generation sequencing and protein-coupled receptor technologies to support genomic workflows. The company serves pharmaceutical and biotech firms, academic institutions, public health agencies, and healthcare providers. Financially, Revvity reported approximately $3 billion in revenue with a market cap around $12.8 billion, emphasizing R&D (7.4% of revenue) and maintaining a gross margin of 52.1%. Under CEO Prahlad Singh, the company continues to innovate, launching AI-powered SaaS platforms like Revvity Signals for data-driven research. With a commitment to expanding human potential, Revvity aims to revolutionize healthcare through translational multi-omics and biomarker technologies.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$2.9B
+3.7%
+2.6%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$241.7M
-18.3%
+27.3%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+53.1%
+10.6%
+4.8%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+12.5%
-16.2%
+14.7%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+8.5%
-21.2%
+24.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$508.3M
-6.2%
+89.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+17.8%
-9.5%
+85.0%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
48.5%
+11.8%
-0.9%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.68x
-53.2%
+4.8%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Ladies and gentlemen, thank you for joining us, and welcome to the Q2 2026 Revvity Earnings Conference Call. [Operator Instructions] I will now hand the conference over to Steve Willoughby, SVP, Investor Relations. Steve, please go ahead.
Stephen Willoughby: Thank you, operator. Good morning, everyone, and welcome to Revvity's Second Quarter 2026 Earnings Conference Call. On the call with me today are Prahlad Singh, our President and Chief Executive Officer; and Max Krakowiak, our Senior Vice President and Chief Financial Officer. Before we begin, I'd like to remind you that today's call may include forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from our expectations. Please refer to the safe harbor statements in our earnings release and to our SEC filings for a detailed discussion of these risk factors. We assume no obligation to update these forward-looking statements in the future. Additionally, we will refer to certain non-GAAP financial measures during this call. Reconciliations to the most directly comparable GAAP measures are available in our earnings release. I'll now turn it over to our President and Chief Executive Officer, Prahlad Singh. Prahlad?
Prahlad Singh: Thank you, Steve, and good morning, everyone. I'm pleased to report that Revvity delivered strong results in the second quarter with pro forma organic growth of 3%, resulting in total revenue being above the high end of our expectations. Our pro forma adjusted earnings per share of $1.41 was well above the high end of our guidance due to better-than-expected underlying operating performance, tax planning timing and the unanticipated contribution of tariff refunds we received in the quarter, which Max will touch on more in a bit. These results reflect the continued strength and resilience of our Diagnostics franchise, the third consecutive quarter of improving conditions across our pharma and biotech end markets, growing customer demand for tools that enable AI-driven science and the continued momentum of our Signals software business. Given the stronger performance and our improved optimism for the second half, we are raising our pro forma guidance for organic growth, adjusted operating margin and adjusted EPS for the full year, which Max and I will provide additional detail on in a bit. Before I provide more detail on the operational progress we are making, I want to share a brief update on the status of the divestiture of our China immunodiagnostics business, which we first announced last quarter. We have now signed a definitive agreement with the buyer on terms consistent with our initial expectations, and we continue to anticipate the transaction closing by the end of 2027. This divestiture is a deliberate strategic decision as China has represented a structurally more challenging environment for this part of our business of late, and we are confident this transaction allows us to sharpen our focus on …