REVVITY, INC.RVTY
REVVITY, INC. Revenue Disclosure
Revenue
For arrangements with multiple performance obligations, the Company accounts for individual products and services separately if they are distinct - i.e., if a product or service is separately identifiable from other items in the bundled package and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The consideration (including any discounts) is allocated to each performance obligation in an arrangement based on relative stand-alone selling prices. The stand-alone selling prices are determined based on the prices at which the Company separately sells the products, extended warranties, and services. For items that are not sold separately, the Company estimates stand-alone selling prices by reference to the amount charged for similar items on a stand-alone basis.
The Company sells products and services predominantly through its direct sales force, and the use of distributors is generally limited to geographic regions where the Company has no direct sales force. The Company does not offer product return or exchange rights (other than those relating to defective goods under warranty).
In instances where the timing of revenue recognition differs from the timing of invoicing, the Company determined that the contracts generally do not include a significant financing component. In limited circumstances where the Company provides the customer with a significant benefit of financing, the Company uses the practical expedient and only adjusts the transaction price for the effects of the time value of money and only on contracts where the duration of financing is more than one year.
Nature of goods and services
The Life Sciences segment principally generates revenue from sales of instruments, reagents, software, subscriptions, detection and imaging technologies, extended warranties, training and services in the life sciences market. The Diagnostics segment principally generates revenue from sales of instruments, solutions, consumables, reagents, and services in the diagnostics market. The typical length of a contract for service is 12 to 36 months.
The revenue generated from the sale of instruments, reagents, and certain software is recognized at a point in time. The Company recognizes revenue in these arrangements at the point in time when control of the products has been transferred to customers, which is typically at delivery. Certain of the Company’s products require specialized installation and configuration at the customer's site. Revenue for these products is deferred until installation is complete and customer acceptance has been received. When the Company places the instrument at the customer's site and sells the reagents to a customer, the instrument and reagents are accounted for together as one performance obligation. The Company does not charge a fee for the use of the instrument and retains ownership of the placed instrument. The Company recognizes revenue upon delivery of reagents, which is the point in time where the Company has performed its obligation to provide a screening solution to the customer. Payment terms and conditions vary, although terms generally include a requirement of payment within 30 to 60 days.
The revenue generated from the sale of licenses for software as a service, cloud services, subscriptions, and laboratory services and training is recognized over time. Software as a service, subscriptions and cloud services, are generally recognized ratably over the contract period. The Company sells its software subscriptions and cloud services with maintenance services and, in some cases, with consulting services. The Company recognizes revenue for the software commencing when the service is made available to the customer. For maintenance and consulting services, revenue is recognized over the period in which the services are provided. Revenue for laboratory services is recognized over the contract period or when the service is billable, based on an input method that is based on time and materials.
Product revenue is recognized at a point in time and service revenue is generally recognized over time.
Disaggregation of revenue
In the following tables, revenue is disaggregated by primary geographical market and major good and service lines.
| Reportable Segments | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| For the fiscal year ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| December 28, 2025 | December 29, 2024 | December 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Life Sciences | Diagnostics | Total | Life Sciences | Diagnostics | Total | Life Sciences | Diagnostics | Total | |||||||||||||||||||||||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Primary geographical markets | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Americas | $ | 750,857 | $ | 505,104 | $ | 1,255,961 | $ | 745,206 | $ | 477,881 | $ | 1,223,087 | $ | 759,782 | $ | 455,831 | $ | 1,215,613 | |||||||||||||||||||||||||||||||||||
| Europe | 343,507 | 481,471 | 824,978 | 315,173 | 427,441 | 742,614 | 344,713 | 402,310 | 747,023 | ||||||||||||||||||||||||||||||||||||||||||||
| Asia | 336,740 | 438,372 | 775,112 | 338,222 | 451,103 | 789,325 | 353,697 | 434,238 | 787,935 | ||||||||||||||||||||||||||||||||||||||||||||
| $ | 1,431,104 | $ | 1,424,947 | $ | 2,856,051 | $ | 1,398,601 | $ | 1,356,425 | $ | 2,755,026 | $ | 1,458,192 | $ | 1,292,379 | $ | 2,750,571 | ||||||||||||||||||||||||||||||||||||
| Major goods/service lines | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Life Sciences Solutions | $ | 1,194,728 | $ | — | $ | 1,194,728 | $ | 1,197,802 | $ | — | $ | 1,197,802 | $ | 1,279,903 | $ | — | $ | 1,279,903 | |||||||||||||||||||||||||||||||||||
| Software | 236,376 | — | 236,376 | 200,799 | — | 200,799 | 178,289 | — | 178,289 | ||||||||||||||||||||||||||||||||||||||||||||
| Immunodiagnostics | — | 869,908 | 869,908 | — | 828,627 | 828,627 | — | 787,394 | 787,394 | ||||||||||||||||||||||||||||||||||||||||||||
| Reproductive health | — | 555,039 | 555,039 | — | 527,798 | 527,798 | — | 504,985 | 504,985 | ||||||||||||||||||||||||||||||||||||||||||||
| $ | 1,431,104 | $ | 1,424,947 | $ | 2,856,051 | $ | 1,398,601 | $ | 1,356,425 | $ | 2,755,026 | $ | 1,458,192 | $ | 1,292,379 | $ | 2,750,571 | ||||||||||||||||||||||||||||||||||||
Major Customer Concentration
No single customer comprises more than 10% of net revenues in the years presented.
Contract Balances
Unbilled receivable and Contract assets: The timing of revenue recognition may differ from the timing of customer billing. When revenue is recognized prior to billing and the right to the amount due from customers is conditioned only on the passage of time, the Company records an unbilled receivable on its consolidated balance sheets. The unbilled receivables are classified as either current in “Accounts receivable, net” or as long-term in “Other assets, net” in the consolidated balance sheets. Unbilled receivables totaled $105.6 million and $80.6 million at December 28, 2025 and December 29, 2024, respectively, primarily related to software revenue. The Company has no material contract assets as of December 28, 2025 and December 29, 2024.
Deferred revenue and Customer deposits: Deferred revenue is recorded when revenue is recognized subsequent to customer invoicing. Deferred revenue is classified as either current in “Accrued expenses and other current liabilities” or as long-term in “Long-term liabilities” in the consolidated balance sheets based on the timing of when the Company expects to recognize revenue. Substantially all of the deferred revenue is expected to be recognized in revenue within 12 months of the balance sheet date, and has been classified within accrued expenses and other current liabilities. The deferred revenue balance is primarily related to our software as a service offerings, maintenance contracts and prepaid storage arrangements. Deferred revenue totaled $224.8 million and $212.8 million at December 28, 2025 and December 29, 2024, respectively. The Company also has customer deposits received in advance of the transfer of control totaling $19.3 million and $19.5 million at December 28, 2025 and December 29, 2024, respectively. The Company expects that these customer deposits will be recognized in revenue within 3 months of the balance sheet date.
Transaction price allocated to the remaining performance obligations
The Company applies the practical expedient and does not disclose information about remaining performance obligations that have original expected durations of one year or less. The estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the period are not material to the Company. The remaining performance obligations primarily include noncancelable purchase orders, noncancelable software subscriptions and cloud service contracts and long-term prepaid storage contracts.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Mar 1, 2023 | |
| 2022 | Mar 3, 2022 | |
| 2021 | Mar 2, 2021 | |
| 2019 | Feb 25, 2020 | |
| 2018 | Feb 26, 2019 | |
About Revenue Disclosures
Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.
Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.