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Revvity (RVTY) FY2025 results: revenue $2.9 billion, up 3.7% on the year

Revvity, Inc. (RVTY) reported revenue of $2.9 billion for fiscal 2025, the year ended 28 December 2025, up 3.7% on the year before. Net income was $241 million, down 10.8%, and diluted earnings per share $2.07. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2026.

Revenue
$2.9 billion
+3.7% on the year
FY2018FY2025
Operating margin
12.5%
12.6% a year earlier
FY2018FY2025
Net income
$241 million
-10.8% on the year
FY2018FY2025
Diluted EPS
$2.07
-5.9% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The year in brief

What management said about the year

Guidance figures: 6 new.

  • Fourth quarter revenue rose 6%: Q4 revenue was $772 million, up from $729 million, with 4% organic growth. Full year revenue was $2,856 million, up from $2,755 million.
  • Q4 adjusted EPS rose to $1.70: Q4 adjusted EPS from continuing operations was $1.70 against $1.42. GAAP EPS was $0.87 against $0.78.
  • Diagnostics Q4 revenue rose: Diagnostics Q4 revenue was $390 million against $355 million. Full year revenue was $1,425 million against $1,356 million.
  • Diagnostics margin fell on flat profit: Diagnostics Q4 adjusted operating income was $91 million, the same as a year earlier. Q4 margin was 23.4% against 25.7%; full year margin was 24.2% against 26.1%.
  • Operating cash flow lower for year: Operating cash flow from continuing operations was $182 million in Q4 against $175 million, and $589 million for the year against $665 million.
Read the Q4 FY2025 earnings call summary

From this 10-K

Revvity supplies health science technologies, expertise and services covering workflows from discovery to development and from diagnosis to cure. The filing names its focus areas as translational multi-omics technologies, biomarker identification, imaging, prediction, screening, detection and diagnosis, and informatics. Headquarters are in Waltham, Massachusetts, products and services are marketed in more than 160 countries, and the company employed approximately 11,000 people at 28 December 2025, roughly 80 percent of them outside the United States, with about 4,000 covered by employment contracts influenced by labour unions and workers' councils. The financial year ends in late December. There are two segments, Life Sciences and Diagnostics.

Revvity, Inc., the 10-K for 2025

Revvity supplies health science technologies, expertise and services covering workflows from discovery to development and from diagnosis to cure. The filing names its focus areas as translational multi-omics technologies, biomarker identification, imaging, prediction, screening, detection and diagnosis, and informatics. Headquarters are in Waltham, Massachusetts, products and services are marketed in more than 160 countries, and the company employed approximately 11,000 people at 28 December 2025, roughly 80 percent of them outside the United States, with about 4,000 covered by employment contracts influenced by labour unions and workers' councils. The financial year ends in late December. There are two segments, Life Sciences and Diagnostics.

Life Sciences

The segment sells products, software and services used by life sciences researchers across cell, gene and protein research, aimed at the drug discovery and development pipeline. Customers are global pharmaceutical, biotech and contract research organisations plus academic and government institutions. The offering is grouped into four: reagents, instruments, software, and technology and licensing.

The reagents

The reagent portfolio is the widest part of it. It includes kits across oncology, neuroscience and targeted protein degradation; recombinant GPCR and ion channel cell lines, over 300 products and 120 ready-to-use frozen cell lines; Dharmacon reagents and gene modulation technologies such as RNAi, used to understand gene function and identify genetic drivers of disease; BioLegend ELISA kit families covering more than 200 targets for human, mouse and rat samples; and BioLegend LEGENDplex bead-based reagents, which quantify up to 14 targets from one small sample volume on common flow cytometers. Alongside those sit BioLegend antibodies, recombinant proteins and related reagents used in flow cytometry, microscopy, proteogenomics, cancer research, immunology and cell and gene therapy, TotalSeq oligonucleotide-barcoded antibodies that let high-parameter protein detection run alongside RNA or DNA sequencing, and cell culture and biofunctional assay reagents.

The instruments and software

Instruments include the Tri-Carb, Quantulus GCT and MicroBeta2 liquid scintillation analysers and Wizard2 gamma counters for beta, gamma and luminescence counting; the Opera Phenix Plus high-content screening system for phenotypic drug screening of complex cellular models; the Operetta CLS high-content analysis system, used on live cells and 3D and stem cell work; and the VICTOR Nivo multimode plate reader for assay development and academic labs. Software includes Harmony high-content imaging and analysis, which handles acquisition through to quantitative analysis and supports 2D and 3D cellular phenotyping on the Opera Phenix Plus and Operetta CLS systems, and Signals Image Artist, an image analysis and management platform for high-content screening and cellular imaging data.

Technology and licensing

This is the part sold as a platform rather than a product. It covers the Pin-point base editing platform, a CRISPR-Cas9-based technology for making precise base changes in genomic DNA to silence disease-causing genes, correct disease-associated mutations and optimise cell therapies; the CHOSOURCE expression platform, a CHO expression system for developing and manufacturing biotherapeutics, which the filing says has a track record of over 100 regulatory filings in multiple countries; gene delivery services and technologies for designing and manufacturing viral vectors, including the LentiBOOST transduction enhancer; and preclinical services for oncology.

Diagnostics

The segment sells instruments, reagents, assay platforms and software to hospitals, medical labs, clinicians and medical research professionals, concentrating on reproductive health, immunodiagnostics and emerging market diagnostics. Diagnostic labs use them to screen for genetic abnormalities and conditions including Down syndrome, hypothyroidism, muscular dystrophy, infertility and metabolic conditions. On the reproductive health side, the DELFIA Xpress platform handles prenatal and maternal health screening with kits for first, second and third trimester analyses and LifeCycle software, the DELFIA Xpress sFlt-1 kit supports short-term prediction of pre-eclampsia, and the NeoBase kits detect metabolic disorders in newborns from dry blood spot samples by tandem mass spectrometry. On the immunodiagnostics side, the chemagic instrument family automates nucleic acid isolation and the setup of PCR and next-generation sequencing, with IVDR-compliant versions for clinical diagnostics, and the Oxford Immunotec T-SPOT platform detects a T cell immune response to infection, including the T-SPOT.TB test.

Supply

Raw materials, key components and supplies are generally available from alternate sources in adequate quantities, under multi-year contracts with no minimum purchase requirements. For certain critical items only a limited or single source has been qualified, so quantities are sometimes bought ahead of current requirements.

From Revvity's annual report on Form 10-K for the year ended 28 December 2025. The filing

Written from the 10-K filed 24 February 2026: read the full 10-K.

The four quarters: Q1 FY2025 · Q2 FY2025 · Q3 FY2025 · Q4 FY2025

Income statement (profit and loss)

$ millionFY2025FY2024FY2023On the yearLast 8 years
Revenue2,8562,7552,751+3.7%
Cost of revenue1,2921,2171,211+6.1%
Gross profit1,5641,5381,540+1.7%
Gross margin54.8%55.8%56.0%
Research and development216197217+9.7%
Selling, general and administrative9929941,023-0.2%
Operating income357347301+2.9%
Operating margin12.5%12.6%10.9%
Interest expense92.296.398.8-4.3%
Pre-tax income268316183-15.1%
Income tax28.433.13.5-14.1%
Effective tax rate10.6%10.5%1.9%
Net income241270693-10.8%
Net margin8.4%9.8%25.2%
Diluted EPS$2.07$2.20$5.55-5.9%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2025FY2024FY2023On the yearLast 8 years
Operating cash flow58362891.3-7.2%
Capital expenditure73.586.681.4-15.1%
Free cash flow5095429.9-6.0%
Free cash flow margin17.8%19.7%0.4%
Cash from investing-17.47761,314
Cash from financing-858-1,128-947
Depreciation and amortisation405428432-5.3%
Share-based compensation22.837.841.4-39.6%
Buybacks821370389+122.1%
Dividends paid32.834.535.0-4.8%
Dividend per share$0.28$0.28$0.280.0%
Diluted shares, weighted117m123m125m-5.1%
Shares outstanding at period end112m121m123m-6.9%

Balance sheet

$ millionFY2025FY2024FY2023On the yearLast 8 years
Shareholders' equity7,2507,6677,873-5.4%
Debt3,2393,1723,927+2.1%
Operating lease liabilities148152133-2.2%
Other liabilities1,5301,4021,632+9.2%
Total liabilities and equity12,16812,39213,565-1.8%
Fixed assets479482510-0.6%
Goodwill6,6136,4646,534+2.3%
Intangible assets2,3472,6413,022-11.1%
Investments28.027.4704+2.0%
Cash and equivalents9201,163913-20.9%
Receivables745632633+17.8%
Inventory379368428+3.2%
Other assets657615821+6.8%
Total assets12,16812,39213,565-1.8%

10-K for the year ended 28 December 2025, filed 24 February 2026: the filing.