REVVITY, INC.RVTY
REVVITY, INC. Segments Disclosure
Segment and Geographic Area Information
The Company discloses information about its operating segments based on the way that management organizes the segments within the Company for making operating decisions and assessing financial performance. The CODM of the Company is the Chief Executive Officer (“CEO”). The CEO evaluates the performance of its operating segments based on revenue and operating income as adjusted for certain items. Intersegment revenue and transfers are not significant. The accounting policies of the operating segments are the same as those described in Note 1.
Effective at the beginning of fiscal year 2025, the Company implemented changes to its operating model. The majority of the Company’s Applied Genomics business, previously reported as part of the Diagnostics segment, has been integrated into a newly formed Life Sciences Solutions business, encompassing all Life Sciences reagents and consumables, instruments and services, as well as technology and licensing, which is reported as part of the Life Sciences segment. Beginning in fiscal year 2025, the Life Sciences segment consists of Life Sciences Solutions and Software, while the Diagnostics segment consists of Immunodiagnostics and Reproductive Health.
The effect of the change is not significant. Prior period financial information has been reclassified to reflect this new segment composition for consistent comparison.
The Company has included the expenses for its corporate headquarters, such as legal, tax, audit, human resources, information technology, and other management and compliance costs, as well as the activity related to the mark-to-market adjustment on postretirement benefit plans, as “Corporate” below. The Company has a process to allocate and recharge
expenses to the reportable segments when these costs are administered or paid by the corporate headquarters based on the extent to which the segment benefited from the expenses. These amounts have been calculated in a consistent manner and are included in the Company’s calculations of segment results to internally plan and assess the performance of each segment for all purposes, including determining the compensation of the business leaders for each of the Company’s operating segments.
The primary financial measure by which the Company evaluates the performance of its segments is adjusted operating income, which consists of operating income plus amortization of intangible assets, adjustments to operations arising from purchase accounting (primarily adjustments to the fair value of acquired inventory that are subsequently recognized), acquisition and divestiture-related costs, and other costs that are not expected to recur or are of a non-cash nature, primarily including restructuring actions, significant litigation matters and transformation costs. The CODM does not evaluate operating segments using discrete asset information and there are no segment assets reported to the CODM. Accordingly, no segment assets have been reported.
Revenue and operating income, including significant segment expenses, by reportable segment are shown in the table below for the fiscal years ended:
| December 28, 2025 | December 29, 2024 | December 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Life Sciences | Diagnostics | Total | Life Sciences | Diagnostics | Total | Life Sciences | Diagnostics | Total | |||||||||||||||||||||||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment revenue | $ | 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 | |||||||||||||||||||||||||||||||||||
| Segment cost of revenue | 516,297 | 633,769 | 488,188 | 576,162 | 510,445 | 548,612 | |||||||||||||||||||||||||||||||||||||||||||||||
| Segment selling, general and administrative expenses | 344,516 | 343,430 | 338,755 | 336,325 | 328,068 | 341,155 | |||||||||||||||||||||||||||||||||||||||||||||||
| Segment research and development expenses | 112,029 | 103,582 | 104,382 | 90,000 | 107,429 | 104,585 | |||||||||||||||||||||||||||||||||||||||||||||||
| Segment operating income | $ | 458,262 | $ | 344,166 | 802,428 | $ | 467,276 | $ | 353,938 | 821,214 | $ | 512,250 | $ | 298,027 | 810,277 | ||||||||||||||||||||||||||||||||||||||
| Corporate expenses | (28,944) | (41,754) | (40,417) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Amortization of intangible assets | (335,586) | (359,376) | (365,113) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Purchase accounting adjustments | (1,248) | 79 | (5,956) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisition and divestiture-related costs | (3,783) | (25,379) | (69,159) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Transformation costs | (9,280) | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Asset impairment | — | (22,814) | — | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Significant litigation matters and settlements | (12,228) | (7,775) | (12) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Significant environmental matters | 1,208 | — | (2,457) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Restructuring and other, net | (55,932) | (17,454) | (26,601) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest and other expense, net | (88,358) | (30,615) | (117,586) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Income from continuing operations before income taxes | $ | 268,277 | $ | 316,126 | $ | 182,976 | |||||||||||||||||||||||||||||||||||||||||||||||
Depreciation expense included in the Company’s reportable segment operating income and corporate expenses is as follows:
| December 28, 2025 | December 29, 2024 | December 31, 2023 | |||||||||||||||
| (In thousands) | |||||||||||||||||
| Life Sciences | $ | 33,485 | $ | 30,128 | $ | 30,110 | |||||||||||
| Diagnostics | 33,403 | 36,074 | 33,994 | ||||||||||||||
| Corporate | 2,867 | 2,271 | 2,551 | ||||||||||||||
| Total depreciation expense | $ | 69,755 | $ | 68,473 | $ | 66,655 | |||||||||||
The following geographic area information for continuing operations includes revenue based on location of external customers for the three fiscal years ended December 28, 2025 and net long-lived assets based on physical location as of December 28, 2025 and December 29, 2024:
| Revenue | |||||||||||||||||
| December 28, 2025 | December 29, 2024 | December 31, 2023 | |||||||||||||||
| (In thousands) | |||||||||||||||||
| U.S. | $ | 1,126,274 | $ | 1,097,856 | $ | 1,117,654 | |||||||||||
| International: | |||||||||||||||||
| China | 425,060 | 450,007 | 454,426 | ||||||||||||||
| Germany | 177,664 | 162,575 | 193,170 | ||||||||||||||
| United Kingdom | 126,849 | 112,883 | 125,419 | ||||||||||||||
| Other international | 1,000,204 | 931,705 | 859,902 | ||||||||||||||
| Total international | 1,729,777 | 1,657,170 | 1,632,917 | ||||||||||||||
| Total revenue | $ | 2,856,051 | $ | 2,755,026 | $ | 2,750,571 | |||||||||||
Net Long-Lived Assets (a) | |||||||||||
| December 28, 2025 | December 29, 2024 | ||||||||||
| (In thousands) | |||||||||||
| U.S. | $ | 341,172 | $ | 348,868 | |||||||
| International: | |||||||||||
| Germany | 130,645 | 134,713 | |||||||||
| United Kingdom | 40,839 | 35,097 | |||||||||
| China | 34,894 | 49,207 | |||||||||
| Other international | 201,481 | 177,995 | |||||||||
| Total international | 407,859 | 397,012 | |||||||||
| Total net long-lived assets | $ | 749,031 | $ | 745,880 | |||||||
(a) Long-lived assets consist of property and equipment, net, operating lease right-of-use assets, rental equipment and other long-term assets.
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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 | |
| 2017 | Feb 28, 2017 | |
| 2016 | Mar 1, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.