REVVITY, INC. 10-K

Item 1. Business Overview We are a leading provider of 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. Our headquarters are in Waltham, Massachusetts, and we market our products and services in more than 160 countries. As of December 31, 2023, we employed approximately 11,500 employees. Effective as of April 26, 2023, we changed our name from PerkinElmer, Inc. to Revvity, Inc. Effective as of May 16, 2023, we changed the ticker symbol for our common stock to “RVTY” and the ticker symbol for our 1.875% Notes due 2026 to “RVTY 26”. Our common stock is listed on the New York Stock Exchange under the symbol “RVTY” and we are a component of the S&P 500 Index. We maintain a website with the address http://www.revvity.com . We are not including the information contained in our website as part of, or incorporating it by reference into, this annual report on Form 10-K. We make available free of charge through our website our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to these reports, as soon as reasonably practicable after we electronically file these materials with, or otherwise furnish them to, the Securities and Exchange Commission. Our Strategy Our strategy is to develop and deliver innovative products, services and solutions in high-growth markets that utilize our knowledge and expertise to address customers’ critical needs and drive scientific breakthroughs. To execute on our strategy and accelerate revenue growth, we focus on broadening our offerings through both the investment in research and development and the acquisition of innovative technology. Our strategy includes: • Strengthening our position within key markets by expanding our global product and service offerings, maintaining superior product quality and driving an enhanced customer experience; • Attracting, retaining and developing talented and engaged employees; • Accelerating transformational innovation through both internal research and development and third-party collaborations and alliances; • Augmenting growth in both of our core business segments, Life Sciences and Diagnostics, through strategic acquisitions and licensing; • Engraining focused operational excellence to improve organizational efficiency and agility; and • Opportunistically utilizing our share repurchase programs to help drive shareholder value. Recent Developments As part of our strategy to grow our core businesses and transform our portfolio, we have recently taken the following actions: Discontinued Operations in Fiscal Year 2023: On March 13, 2023, we completed the previously announced sale (the “Closing”) of certain assets and the equity interests of certain entities constituting our Applied, Food and Enterprise Services businesses (the “Business”) to PerkinElmer Topco, L.P. (formerly known as Polaris Purchaser, L.P.) (the “Purchaser”), a Delaware limited partnership owned by funds managed by affiliates of New Mountain Capital L.L.C. (the “Sponsor”), for an aggregate purchase price of up to $2.45 billion. We received approximately $2.13 billion in cash proceeds, before transaction costs and subject to post-closing adjustments. We are entitled to an additional $75.0 million in proceeds as consideration for our ceasing the use of the PerkinElmer brand and related trademarks and transferring them to the Purc haser. This consideration is expected to be received in installments through the first half of 2025. In addition, we are entitled to additional consideration of up to $150.0 million that is contingent on the exit valuation the Sponsor and its affiliated funds receive o n a sale or other capital events related to the Business. 3 Table of Contents Business Segments and Products We report our business in two segments: Life Sciences and Diagnostics. Life Sciences Segment Our comprehensive portfolio of technologies helps life sciences researchers better understand diseases and develop treatments. We provide a broad suite of products, solutions and services that facilitate optimized workflows, increase productivity, and accelerate every stage of the drug discovery and development pipeline. Our offerings span the areas of cell, gene, and protein research, enabling scientists to work smarter, make research breakthroughs, and transform those breakthroughs into real-world outcomes. We partner with global pharmaceutical, biotech and contract research organizations, as well as academic institutions, to enable them to discover and develop better treatments and therapeutics to fight disease faster and more efficiently. Principal Products: Our principal products and services for Life Sciences applications include the following: • Radiometric detection solutions, including over 750 radiochemicals and instrumentation such as the Tri-Carb ® and Quantulus ™ GCT families of liquid scintillation analyzers, Wizard 2® Gamma counters and MicroBeta 2® plate based LSA, which are used for beta, gamma and luminescence counting in microplate and vial formats utilized in research, environmental and drug discovery applications. • The Opera Phenix ® Plus high-content screening system, which is used for sensitive and high-speed phenotypic drug screening of complex cellular models. • The Operetta ® CLS ™ high-content analysis system, which enables scientists to reveal fine sub-cellular details from everyday assays as well as more complex studies, for example using live cells, 3D and stem cells. • Reagents and solutions for microscopy and imaging applications. These include PhenoVue™ cellular imaging reagents and cell painting kits, PhenoPlate (formerly CellCarrier Ultra™) cellular imaging microplates and GrowDex ® hydrogels, fluorophore-conjugated and enzyme-conjugated antibodies, as well as buffers and solutions, such as our Ce3D™ collection of buffers for 3D tissue imaging. • The MuviCyte™ live-cell imaging system, designed to operate inside a cell-culture incubator, enabling researchers to study cellular behaviors and pathways in living cells to gain a deeper understanding of functions, disease mechanisms and responses to treatments. • The Signals Image Artist™ next-generation image analysis and management platform for drug discovery research, to help scientists process and analyze high-content screening (HCS) and cellular imaging data in a matter of hours versus days or weeks, so they can make more informed decisions faster. • The VICTOR Nivo ® multimode plate reader benchtop system, which is designed for assay development and academic labs, including those using HTRF ® and AlphaLISA ® assay technologies. • The EnSight ® multimode plate reader benchtop system, which offers well plate imaging alongside labeled detection technologies for target-based and phenotypic assays. • The EnVision ® multimode plate reader, which is designed for high-throughput screening laboratories, including those using HTRF ® , AlphaScreen ® and AlphaLISA ® assay technologies. • A wide range of homogeneous biochemical and cell-based reagents using HTRF ® , LANCE ® Ultra™, DELFIA ® , AlphaLISA ® , AlphaLISA ® SureFire ® Ultra, AlphaScreen ® , AlphaPlex ® and luminescence assay technologies. • A broad portfolio of recombinant GPCR and ion channel cell lines, including over 300 products and 120 ready-to-use frozen cell lines for a wide range of disease areas. • BioLegend ® ELISA MAX™ Standard Sets, ELISA MAX™ Deluxe Sets, LEGEND MAX™ ELISA Kits and RAPID MAX™ ELISA Kits as well as complementary solutions and buffers for immunoassays to cover more than 200 targets for human, mouse, and rat samples, many of which are designed to assess the immune environment and its inflammatory state for vaccine, infectious disease and autoimmune disease research. • BioLegend ® LEGENDplex™ bead-based reagents, which, in contrast to single analyte assays such as enzyme-linked immunosorbent assays (“ELISAs”), can quantitate up to 14 targets, from one small sample volume in a flow cytometry assay, and include both desktop and cloud-based analysis software. • In vivo imaging technologies and reagents for preclinical research, comprised of the IVIS ® Spectrum ™ series for 2D and 3D optical imaging and optionally integrated low-dose CT imaging and the IVIS ® Lumina ™ series for benchtop 2D imaging, along with IVISbrite™ bioluminescent and IVISense™ fluorescent imaging agents, cell lines and dyes. • The Quantum TM GX2 system, which enables low-dose in vivo CT imaging of multiple species and areas of anatomical interest across multiple disease areas by way of high-resolution, tomographic imaging. 4 Table of Contents • GoInVivo™ as well as Ultra-LEAF™ and LEAF™ functional antibodies, which provide an affordable solution for researchers performing in vivo and ex vivo studies. • Nexcelom BioScience high-throughput, microwell Celigo ® image cytometry system, Cellaca™ MX high-throughput cell counter, the new Cellaca™ PLX image cytometry system, and Cellometer ® automated cell counters, complemented by consumables and reagents, including reagents and kits for cell counting assays and cell viability, microplates, slides, and counting beads. • Mimix Reference Standards, which are cell line-derived and suitable for Next Generation Sequencing, droplet-digital and Real-Time PCR as well as Sanger sequencing. The platform is agnostic for seamless integration into any quality control workflow. • Dharmacon™ Reagents and gene modulation technologies such as RNAi that support drug discovery and development for greater understanding of gene function, identify genetic drivers behind human disease, develop and validate diagnostic workflows, and help deliver biotherapeutics, cellular and gene therapies for precision medicine with a portfolio of cell engineering tools. • Pin-point™ base editing platform, which is a CRISPR-Cas9-based technology that allows researchers to make precision base changes in genomic DNA. Editing with such precision can be used to silence disease-causing genes, correct disease-associated mutations, and optimize cell therapies. • CHOSOURCE™ platform, which was expanded to include CHO-K1 ADCC+ expression cell line for development of therapeutic antibodies in oncology, infectious disease and autoimmune conditions. • BioLegend ®’ s catalog of more than 20,000 SKUs, incorporating antibodies and a large collection of antibody conjugates and modifications as well as recombinant proteins, immunoassays and other supportive reagents and solutions for cell and molecular analysis. • The T-SPOT ® Discovery SARS-CoV-2 research-use-only assay to investigate cell-mediated immunity related to COVID-19. • Sirion Biotech consultancy services and technologies to design and manufacture viral vectors for cell and gene therapy research and preclinical development. • BioLegend ® best-in-class antibodies, recombinant proteins and related reagents, which are used across multiple applications and research areas, including proteogenomics, tissue, cell and protein analysis, cancer research, immunology, cell and gene therapy, stem cell therapy and neuroscience. • Fluorophore-conjugated antibodies, which are used in flow cytometers to characterize protein expression on the surface and in internal compartments of cells. The large collection of dyes and antibodies allows for an increasing number of conjugate options, facilitating the use of bigger and better flow cytometry panels using conventional and spectral flow cytometers. Notable products are Brilliant Violet™ and the Spark™ and Fire dye series, among others. • BioLegend ® TotalSeq™ reagents, which are oligonucleotide-barcoded antibodies that enable protein detection by sequencing that can be combined with traditional RNA or DNA sequencing experiments with high-parameter protein detection, including comprehensive cloud-based analysis software. • Cell culture and biofunctional assay reagents, including bioactive recombinant proteins, as well as other specialized reagents such as Cell-Vive™ T-NK Xeno-Free Serum Substitute (compliant with Good Manufacturing Practice requirements (“GMP”)), and other GMP-produced recombinant proteins and reagents. These products serve several markets, notably cell and gene therapy applications. • BioLegend ®’ s MojoSort™ and Lymphopure™ reagents for cell separation that complement our fluorophore-antibody conjugates, used for FACS (Fluorescence-activated Cell Sorting), thus covering most cell separation and cell sorting technologies and applications. • Flex-T™ reagents that utilize peptide-loaded major histocompatibility molecules assembled into tetramers for the identification of antigen-specific T cells. Our Flex-T products can be used to screen the efficacy of antigen peptides for vaccine and drug trials, as well as characterize the dominance of cancer-specific self-peptides, and more recently, SARS-CoV2 peptides for COVID-19 research. • Antibodies and solutions for Western blotting. A large collection of validated antibodies, as well as supporting buffers and substrates, which provide a convenient set of tools to characterize protein size and relative expression levels in cell or tissue lysates. • Signals Research Platform, which equips pharmaceutical scientists with the essential tools to gather, search, mine, analyze and visualize critical data, yielding actionable insights in an automated, predictive, and scalable manner. Within life science research and development and clinical research applications, our software accelerates innovation, development, collaboration and research, ultimately leading to life-enhancing medical breakthroughs more quickly, promoting our vision of a healthier humankind. In addition, it also empowers scientists and formulators in specialty chemical and food sciences to analyze food, and additives, and create high-performing materials that align with sustainability initiatives, promoting energy efficiency, lower toxicity and a circular economy. • Signals Notebook, a secure cloud-native electronic lab notebook (ELN) for chemistry, biology, research, and formulations. From increased collaboration to securely accessible data, Signals Notebooks accelerates research and development workflows, increases collaboration, integrates with Microsoft Office and more. 5 Table of Contents • Signals ChemDraw ® , which since 1985 has provided solutions with powerful capabilities and integrations to help quickly turn ideas and drawings into publications. Signals ChemDraw automates chemical drawings and transforms them into chemical knowledge by facilitating the management, reporting and presenting of chemistry research. • Signals Clinical, which provides a single unified platform to support data access, preparation and analytics, from source to visualization to action. With unrivaled workflow flexibility to support dynamic collaboration, Signals Clinical’s SaaS solution helps accelerate the delivery of urgently needed therapeutics to patients. • Vega ® preclinical ultrasound system, a hands-free, automated, high-throughput imaging system delivering high-resolution 2D and 3D ultrasound images in minutes. Originally launched in North America in 2022, it is now globally available. • New assay kits for Adeno-associated Virus Vectors (AAVs) and gene therapy applications in our range of HTRF ® and AlphaLISA ® reagents, for detecting and quantifying CHO HCP impurities in biotherapeutics development, as well as kits across oncology, neuroscience, and targeted protein degradation applications. • Cellaca PLX™ image cytometry system, which combines best-in-class image cytometer hardware, software, validated consumables and optimized reagent kits with validated antibodies from our BioLegend business, and trackable data reporting to enable the simultaneous detection of multiple markers and to streamline cell and gene therapy workflows. • New fluorescent stains, reagents and secondary antibodies in our PhenoVue TM cellular imaging reagents portfolio for the detection and analysis of cellular components. • The latest version of the Signals Image Artist™ next-generation image analysis and management platform, which provides improved 3D cell segmentation and analysis, an AWS S3 cloud deployment option and enhanced cloud security, and compatibility with a broader range of systems, including the Nexcelom from Revvity Celigo ® image cytometer. • An updated VICTOR ® Nivo™ multimode plate reader with a new software version for streamlined data analysis. • OptiScint™ NPE-free scintillation cocktails and quench standards, providing a more environmentally friendly alternative without compromising performance. • Expansion of our Western blotting reagents with the addition of the Western Lightning™ One range, which has a pre-mixed one component chemiluminescent HRP substrate for more consistent results. • Additional Spark™ and Fire dye-conjugated antibodies, enabling higher-parameter flow cytometry. Notable products are the Spark UV™ 387 and Spark Red™ 718 conjugates. • For the TotalSeq reagent portfolio, more large panels of pre-titrated oligo-conjugated antibodies released in Universal Panels for the analysis of human and mouse samples. • Software solutions for BioLegend ® LEGENDplex™ assays, multiomics analysis with TotalSeq reagents, and flow cytometry-based cell analysis software (Ryvett) that are now part of BioLegend’s data integration offerings. New Products: New products introduced or acquired for Life Sciences applications in fiscal year 2023 include the following: • Pin-point TM base editing reagents, which improve access to new-generation editing technology. The launch of these reagents puts clinically relevant base editing using the Pin-point platform in the hands of preclinical laboratories seeking to accelerate genomic insights and cell therapy research. • IVIS ® Spectrum 2 and IVIS SpectrumCT 2 next-generation imaging systems, our newest flagship platforms setting the standard in high-throughput performance and versatility. • Quantum TM GX3 microCT imaging solution, a high-throughput system with superior spatial resolution and fast, low-dose scanning for diverse in vivo and biological ex vivo applications. With class-leading resolution, the system is designed for a wide applications, including bone imaging. • Signals Research Suite, a unified, cloud-native SaaS platform that drives scientific collaboration across research and development disciplines from drug discovery to specialty chemicals material development. • Signals DLX™ powered by Scitara ®, , which establishes seamless, bidirectional connectivity across instruments, LIMS, ELNs and other critical lab systems that previously existed in isolation. Brand Names: Our Life Sciences segment offers additional products under various brand names: 6 Table of Contents Accell™, AdenoBOOST™, AlphaLISA ® , AlphaPlex ™ , AlphaScreen ® , Alpha™ SureFire ® , Brilliant Violet™, Ce3D™, CellCarrier ® , Cellaca™, Celigo ® ™, Cellometer ® ™, cell::explorer ™ , Cell-Vive™, Chalice™, Chem3D ® , ChemDraw ® , ChemOffice ® , CHOSOURCE™, Dharmacon™, DharmaFECT™, Edit-R™, ELISA MAX™, EnSight ® , EnVision ® , Flex-T™, FMT ® , FolateRSense ™ , GoInVivo™, HTRF®, IVIS ® , IVISbrite™, IVISense™, LANCE ® , LANCE ® Ultra ™, LEAF™, LEGEND MAX™, LEGENDplex™, LentiBOOST™, Lincode™, Living Image ® , Lumina™, Lymphopure™, MicroBeta 2® , Mini ELISA Plate Reader™, miRIDIAN™, MojoSort™, MuviCyte™, ON-TARGET™, ON-TARGETplus™, Opera Phenix ® Plus, Operetta ® CLS™, OptiScint™, PhenoPlate™, PhenoVue™, Pin-point™, Quantulus ™ GCT, RAPID MAX™, RediJect™, RNAiONE™, Signals™, Signals Image Artist™, SMARTpools ™ , SMARTvector ™ , Spark™, Spectrum™, TotalSeq™, Tri-Carb ® , T-SPOT ® , Ultra-LEAF™, Vega®, VesselVue ® , ViaStain™, VICTOR Nivo ™ Western Lightning ™ and Wizard 2® . Diagnostics Segment We offer instruments, reagents, assay platforms and software to hospitals, medical labs, clinicians and medical research professionals to help improve the health of families. Our Diagnostics segment is especially focused on reproductive health, immunodiagnostics, emerging market diagnostics and applied genomics. We provide early detection for genetic disorders from pregnancy to early childhood, and infectious disease testing for the diagnostics market. Our screening products are designed to provide early and accurate insights into the health of expectant mothers during pregnancy and into the health of their babies. Diagnostic labs use our instruments, reagents and software for testing and screening genetic abnormalities and certain disorders and diseases, including Down syndrome, hypothyroidism, muscular dystrophy, infertility and various metabolic conditions. We also develop technologies that enable and support genomic workflows using PCR and next-generation DNA sequencing for applications in oncology, immunodiagnostics and drug discovery. Principal Products: Our principal products and services for Diagnostics applications include the following: • The DELFIA ® Xpress screening platform, a complete solution for prenatal and maternal health screening, which includes a fast continuous loading system. It is supported by kits for first, second and third trimester analyses for prenatal screening and clinically validated LifeCycle™ software. • The DELFIA ® Xpress sFlt-1 kit, which enables short term prediction of pre-eclampsia and aids in diagnosis in the second and third trimesters of pregnancy together with the previously launched DELFIA ® Xpress PlGF 1-2-3™ assay. • The NeoBase™ non-derivatized MS/MS AAAC kits, which are used to support detection of metabolic disorders in newborns through tandem mass spectrometry. The kits analyze newborn dry blood spot samples for measurement of amino acids and other metabolic analytes for specific diseases. • The GSP ® Neonatal hTSH, T4 17á-OHP, GALT IRT, BTD, PKU, Total Galactose, CK-MM and G6PD kits, used for screening congenital neonatal conditions from a drop of blood. • The Specimen Gate ® informatics data management solution, designed specifically for newborn screening laboratories. • The NeoLSD™ MS/MS kit, the first commercial IVD kit for screening of Pompe, MPS-I, Fabry, Gaucher, Niemann-Pick A/B and Krabbe disorders from a single dried blood spot sample. • QSight ® 210MD and 225MD UHPLC MS/MS instruments, which are used for newborn screening. • ViaCord ® umbilical cord blood banking services for the banking of stem cells harvested from umbilical cord blood and cord tissue, for potential therapeutic application in transplant and regenerative medicine. • An expanded portfolio of molecular-based infectious disease screening technologies for blood bank and clinical laboratory settings in China. The tools include a qualitative 3-in-1 assay for the detection of hepatitis B, hepatitis C and HIV, as well as assays for other communicable diseases. • TRF-based Anti HBs/HCV/TP kits for infectious disease testing. • Chitas ® instrument and HBV/HCV/HIV 3-in-1 PCR reagents for blood screening, and Hi Sensitivity HBV DNA and HCV RNA assays for clinical infectious disease testing. • The Bead Ruptor™ Elite Bead Mill Homogenizer, which enables grinding, lysing, and homogenizing of biological samples prior to molecular extraction delivering repeatable sample disassociation. • OMNI Prep 96 Automated Homogenizer Workstation, which is a fully automated homogenization workstation, enabling true walk-away processing. • The chemagic™ Prime™ instrument, a fully automated, LIMS-compatible solution for primary sample transfer, DNA and RNA isolation, optional normalization and the setup of PCR and Next Generation Sequencing (“NGS”) applications. 7 Table of Contents • Automated liquid handling platforms (Fontus™, JANUS ® , Sciclone ® , Zephyr ® and FlexDrop™) that offer a choice of robotic solutions in genomics, biotherapeutics, high throughput screening and high content analysis to assist life science research from bench to clinic. • JANUS ® BioTx ™ and PreNAT II™ workstations for automated small-scale purification, offering column, tip and plate-based chromatography on a single platform. • HIVE CLX ™ scRNAseq Solution, which integrates sample storage and single cell profiling into a complete workflow, solving the issues that limit single cell RNA analysis. The LabChip ® GXII Touch ™ protein characterization system, which provides a means of characterizing multiple protein product attributes for research labs through QC. • The explorer ™ automated workstation, which allows integration of multiple laboratory instrumentation using a centralized robotic interface, allowing high throughput and turnkey-application focused solutions. • Vanadis ® NIPT, a non-PCR non-sequencing fully automated cfDNA technology for use in any laboratory for screening common trisomies in the pregnant population. • Revvity Omics, a global laboratory network offering multi-OMIC clinical grade services for testing in cytogenetics, biochemical genetics (prenatal and postnatal), molecular genetics and immunodiagnostics. The laboratory network includes testing laboratories in the United States, Sweden, India, China and the United Kingdom. • The EONIS™ assay, a CE marked and United States Food and Drug Administration (“FDA”) authorized system utilizing real-time PCR technology, which allows for simultaneous screening of SMA, SCID and XLA in newborns from a single DBS punch. • Chemiluminescence immunoassays covering endocrinology, autoimmunity, infectious diseases, allergy and therapeutic drug monitoring. • ELISAs covering endocrinology, autoimmunity, diabetes monitoring, steroids, thyroid monitoring, animal research and tumor markers. • Radioactive immunoassays in calcium metabolism. • Autoimmune testing, including indirect immunofluorescence tests (IIFT), ELISA, chemiluminescence immunoassays and immunoblots, covering rheumatology, hepatology, gastroenterology, endocrinology, neurology, nephrology, dermatology and infertility. • Allergy testing covering allergen-specific immunoglobin E (IgE), measuring the level of different IgE antibodies or total IgE in blood using EUROLINE TM immunoblot assays. • Infectious disease testing, including IIFT, ELISA, chemiluminescence immunoassays, immunoblots, microarrays and real-time PCR, covering bacteria, viruses, fungi and parasites. • A complete portfolio of chemiluminescence immunoassays ( “ ChLIA ” ) for precise Alzheimer’s disease diagnostics, which provides reliable analysis of the established CSF biomarkers beta-amyloid (1-40), beta-amyloid (1-42), total tau and pTau (181) and a high degree of standardization due to fully automated processing. • EUROLabPolaris, which provides the secure transfer of indirect immunofluorescence data to several locations enabling central evaluation within the software. • Laboratory management system EUROLabOffice 4.0, which provides a central interface between devices to simplify and speed up the diagnostic routine and increases security through organization of all lab procedures and traceable documentation of all data and processes. • EUROLabWorkstation IFA and EUROLabWorkstation ELISA, which provide fully automated processing of IIFT and ELISA, respectively, for laboratories with high sample throughput. • EUROPattern Microscope, which provides fully automated immunofluorescence microscopy including IIFT pattern recognition and titer determination. • EUROPattern Microscope live, which provides fully automated and fast image recording and modern on-screen reporting, also including IIFT pattern recognition and titer determination. • EUROBlotOne, a compact tabletop device for complete processing of immunoblots. • IDS-i10, a compact random access solution for the processing of ChLIA in the field of autoimmune and infection diagnostics as well as antigen detection, providing sample throughput of up to 60 samples per hour. • IDS-iSYS Multi-Discipline Automated System, which is a compact automation solution for the processing of ChLIA in the field of autoimmune, infection and allergy diagnostics as well as antigen detection, providing sample throughput of up to 120 samples per hour. • Pre-NAT II, which provides fully automated high-throughput sample preparation for molecular genetic diagnostics, consisting of nucleic acid extraction and subsequent pipetting of the PCRs. • MyFoodProfile immunoblots for the determination of IgG and IgE reactivity against more than 200 foods (CE-marked). • Prenatal and postnatal testing utilizing Revvity Omics Next Generation Sequencing products including gene panels, exomes and genomes. • Revvity Omics Whole Genome Sequencing test, which detects duo genome (nuclear and mitochondrial) single nucleotide and copy number variants and includes screening for pharmacogenetic variants, Spinal Muscular Atrophy and more than 30 short tandem repeat disorders. 8 Table of Contents • Revvity Omics test for Facioscapularhumeral dystrophy (FSHD) using Genome Optical Mapping technology. • Oxford Immunotec T-SPOT ® Technology platform, a modified ELISPOT used to detect a T cell immune response to infection. • Oxford Immunotec T-SPOT.TB test, an in vitro diagnostic test for the detection of effector T cells that respond to stimulation by mycobacterium tuberculosis antigens by capturing interferon gamma in the vicinity of T cells in human whole blood. It is intended for use as an aid in the diagnosis of tuberculosis infection. • The PG-Seq™ Rapid Kit v2, which analyzes picogram quantities of DNA from an embryo biopsy for preimplantation genetic research with enhanced whole genome coverage and accuracy. • DOPlify® WGA V2 Kit, which performs fast whole genome amplification on single cells or limited template DNA samples, allowing cell chromosome copy number status to be determined. • chemagic™ 360-D instrument (IVDR) and chemagic™ Prime™ Junior-D instrument (IVDR) for automated nucleic acid isolation, and related kits such as CE-IVD chemagic™ Nucleic Acid Purification Kits and chemagic™ miRNA 200 Kit. • Revvity Omics WholePanel test, which is an enhanced panel testing (WholeCancer, WholeAtaxia, WholeCardiology and WholeMuscularDystrophy panels) using genome sequencing as a backbone and provides full intronic coverage and short tandem repeat screening in one test. • Revvity Omics UltraRapid Whole Genome Sequencing with StepOne, CMV detection and metagenomic analysis, which provides the sickest babies in NICUs with multiomic testing results in five days or less. New Products: New products or services introduced or acquired for Diagnostics applications in fiscal year 2023 include the following: • Fontus™ liquid handler, which is available in multiple versions to automate both NGS and life science workflows. • EONIS™ Q, a novel “ dry-chemistry ” qPCR newborn screening workflow for SCID and SMA screening. • DELFIA™ Trio, an automated plate dispenser, washer, disk remover for the manual newborn screening and prenatal workflows. • EVOYA™, a cloud-based, newborn screening, informatics and data management software. • Automation protocols and kits launched for the BioQule™ NGS System, making it an open system that combines automation, reagents, consumables and scripts, enabling walkaway automation to simplify low throughput NGS library preparation and quantitation. • UNIQO160, a device for fully automated processing of IIFT from primary sample to final microscopy result for up to 160 samples and 18 slides. • 89 new IIFT for the ultrafast automated microscope “ EUROPattern Microscope Live ”. • Anti-TBE Virus ELISA 2.0 (IgG) and Anti-TBE Virus CSF ELISA 2.0 (IgG) for detection of IgG antibodies against TBE virus in serum and CSF, respectively (CE-marked, IVDR-compliant). Brand Names: Our Diagnostics segment offers additional products under various brand names, including AutoDELFIA ® , BACS-on-Beads ® , BIOCHIPs, Bioo Scientific ® , BoBs ® , chemagic™, Chitas ® , DELFIA ® , DELFIA ® Xpress, DOPlify ® , EONIS™, EUROArray™ , EUROIMMUN ® , EUROLabWorkstation™, EUROLINE™, EUROPattern TM , Evolution™ Evoya ® , explorer™, Fontus™, Genoglyphix ® , GSP ® , Haoyuan™, IDS ® Immunodiagnosticsystems, IDS-i10 ®, IDS-i10T ® , IDS-iSYS ®, iLab ™ , iQ™, JANUS ® , LabChip ® , LifeCycle ™ , LimsLink ™ , Migele™, MultiPROBE ® , NEXTFLEX ® , NextPrep™, Pannoramic ™ , Panthera Puncher™, PG-Seq™, PG-Find™ PKamp™, PreNAT II™, Prime™, Protein Clear™, ProteinEXact™, QSight ® , QuantiVac™, RONIA™, Sciclone ® , SimplicityChrom™, Specimen Gate ® , Superflex™, Symbio™, T-SPOT ® , Touch™, Twister ® , Vanadis ® , VariSpec ™ , ViaCord ®, VICTOR 2™ D, and Zephyr ® . Marketing All of our businesses market their products and services primarily through their own specialized sales forces. As of December 31, 2023, we employed approximately 1,400 sales and service representatives operating in approximately 40 countries and marketing products and services in more than 160 countries. In geographic regions where we do not have a sales and service presence, we utilize distributors to sell our products. Raw Materials, Key Components and Supplies Each of our businesses uses a wide variety of raw materials, key components and supplies that are generally available from alternate sources of supply and in adequate quantities from domestic and foreign sources. We generally have multi-year 9 Table of Contents contracts, with no minimum purchase requirements, with our suppliers. For certain critical raw materials, key components and supplies required for the production of some of our principal products, we have qualified only a limited or a single source of supply. We periodically purchase quantities of some of these critical raw materials in excess of current requirements, in anticipation of future manufacturing needs. With sufficient lead times, we believe we would be able to qualify alternative suppliers for each of these raw materials and key components. See the applicable risk factor in “Item 1A. Risk Factors” for an additional description of this risk. Intellectual Property We own numerous United States and foreign patents and have patent applications pending in the United States and abroad. We also license intellectual property rights to and from third parties, some of which bear royalties and are terminable in specified circumstances. In addition to our patent portfolio, we possess a wide array of unpatented proprietary technology and know-how. We also own numerous United States and foreign trademarks and trade names for a variety of our product names and have applications for the registration of trademarks and trade names pending in the United States and abroad. We believe that patents and other proprietary rights are important to the development of both of our reporting segments, but we also rely upon trade secrets, know-how, continuing technological innovations and licensing opportunities to develop and maintain the competitive position of both of our reporting segments. We do not believe that the loss of any one patent or other proprietary right would have a material adverse effect on our overall business or on any of our reporting segments. In some cases, we may participate in litigation or other proceedings to defend against or assert claims of infringement, to enforce our patents or our licensors’ patents, to protect our trade secrets, know-how or other intellectual property rights, or to determine the scope and validity of our or third parties’ intellectual property rights. Litigation of this type could result in substantial cost to us and diversion of our resources. An adverse outcome in any litigation or proceeding could subject us to significant liabilities or expenses, require us to cease using disputed intellectual property or cease the sale of a product, or require us to license the disputed intellectual property from third parties. Competition Due to the range and diversity of our products and services, we face many different types of competition and competitors. Our competitors range from foreign and domestic organizations, which produce a comprehensive array of goods and services and that may have greater financial and other resources than we do, to more narrowly focused firms producing a limited number of goods or services for specialized market segments. We compete on the basis of service level, price, technological innovation, operational efficiency, product differentiation, product availability, quality and reliability. Competitors range from multinational organizations with a wide range of products to specialized firms that in some cases have well-established market positions. We expect the proportion of large competitors to increase through the continued consolidation of competitors. Regulatory Affairs Our operations are subject to regulation by different state and federal government agencies in the United States and other countries, as well as to the standards established by international standards bodies. Some of our products are subject to regulation by the FDA and similar foreign agencies. These regulations govern a wide variety of our product activities, and if we fail to comply with those regulations or standards, we may face, among other things, warning letters; adverse publicity; investigations or notices of non-compliance, fines, injunctions, and civil penalties; import or export restrictions; partial suspensions or total shutdown of production facilities or the imposition of operating restrictions; increased difficulty in obtaining required FDA clearances or approvals or foreign equivalents; seizures or recalls of our products or those of our customers; or the inability to sell our products. We have agreements relating to the sale of our products and services to government entities and, as a result, we are subject to various statutes and regulations that apply to companies doing business with the government. We are also subject to investigation for compliance with the regulations governing government contracts. A failure to comply with these regulations could result in suspension of these contracts, as well as other penalties. We are also subject to a variety of laws, regulations and standards that govern, among other things, the importation and exportation of products, and our business practices in the United States and abroad such as anti-bribery, anti-corruption and competition laws. In addition, changes in governmental regulations may reduce demand for our products or increase our expenses. The healthcare industry, including the genetic screening market, is subject to extensive and frequently changing 10 Table of Contents international and United States federal, state and local laws and regulations. This requires that we devote substantial resources to maintaining our compliance with those laws, regulations and standards. If we fail to comply with applicable laws and regulations, we could suffer civil and criminal damages, fines and penalties, exclusion from participation in governmental healthcare programs, and the loss of various licenses, certificates and authorizations necessary to operate our business, as well as incur liabilities from third-party claims, all of which could have a significant adverse effect on our business. Environmental Matters Our operations are subject to various foreign, federal, state and local environmental and safety laws and regulations. These requirements include the handling, transportation, manufacture and disposal of toxic or hazardous substances, the remediation of contaminated soil and groundwater, the regulation of radioactive materials, and the health and safety of our employees. We may have liability under the Comprehensive Environmental Response Compensation and Liability Act and comparable state statutes that impose liability for investigation and remediation of contamination without regard to fault, in connection with materials that we or our former businesses sent to various third-party sites. We have incurred, and expect to incur, costs pursuant to these statutes. We are conducting a number of environmental investigations and remedial actions at our current and former locations and, along with other companies, have been named a potentially responsible party (“PRP”) for certain waste disposal sites. We accrue for environmental issues in the accounting period that our responsibility is established and when the cost can be reasonably estimated. We have accrued $14.1 million and $12.2 million as of December 31, 2023 and January 1, 2023, respectively, which represents our management’s estimate of the cost of the remediation of known environmental matters, and does not include any potential liability for related personal injury or property damage claims. Our environmental accrual is not discounted and does not reflect the recovery of any material amounts through insurance or indemnification arrangements. The cost estimates are subject to a number of variables, including the stage of the environmental investigations, the magnitude of the possible contamination, the nature of the potential remedies, possible joint and several liability, the time period over which remediation may occur, and the possible effects of changing laws and regulations. For sites where we have been named a PRP, our management does not currently anticipate any additional liability to result from the inability of other significant named parties to contribute. We expect that the majority of such accrued amounts could be paid out over a period of up to ten years. As assessment and remediation activities progress at each individual site, these liabilities are reviewed and adjusted to reflect additional information as it becomes available. There have been no environmental problems to date that have had, or are expected to have, a material adverse effect on our consolidated financial statements. While it is possible that a loss exceeding the amounts recorded in the consolidated financial statements may be incurred, the potential exposure is not expected to be materially different from those amounts recorded. We may become subject to new or unforeseen environmental costs or liabilities. Compliance with new or more stringent laws or regulations, stricter interpretations of existing laws, or the discovery of new contamination could cause us to incur additional costs. Human Capital Management As of December 31, 2023, we employed approximately 11,500 employees on a worldwide basis. Roughly 80% of our workforce is based outside of the United States. Several of our subsidiaries outside the United States have employment contracts with our employees where the terms and conditions are influenced by labor unions and workers’ councils’ agreements that involve approximately 4,000 of our employees. During fiscal year 2023, our voluntary turnover rate was 10%. We believe that management of our human capital resources is vital to the continued growth and success of our company, and we endeavor to create an environment that encourages productivity, rewards performance and values diversity. There are several ways in which we attempt to attract, develop and retain highly qualified employees, as set forth below. Our human capital objectives include, as applicable, identifying, recruiting, developing, retaining, incentivizing, and integrating our existing and new employees. We strive to meet this objective by offering competitive compensation and benefits, in a diverse, inclusive and safe workplace, with opportunities for our employees to grow and develop in their careers. We hold our employees to high performance standards and our compensation plans are designed to deliver competitive base pay and attractive incentive opportunities. Our benefits programs are specifically tailored to the various countries in which we operate and maintain a significant workforce. We benchmark for market practices and adjust our compensation and benefits programs to ensure they remain both equitable and competitive. 11 Table of Contents Diversity and Inclusion We believe in an inclusive workforce, where employees from a number of cultures and countries are engaged and encouraged to leverage their collective talents. We have employees in roughly 40 countries around the world. As of the date of filing of this annual report on Form 10-K, women comprised roughly 40% of our leadership positions on a global basis, which we define as director level and above. We have provided further information regarding our diversity demographics in our Environmental, Social, and Governance (ESG) Report and elsewhere on our website at esg.revvity.com, including summarized data from our EEO-1 form. esg.revvity.com is a home for information related to ESG policies and initiatives at Revvity. The site provides information for our employees, customers and investors on our environmental and social metrics and policies, our global efforts to preserve our environment and our global efforts to promote social equality. It helps our employees and stakeholders know and understand of our commitment to make positive impacts on our employees, customers, local communities and the environment, while engaging others in our efforts. Our EEO-1 form is a report filed with the United States Equal Employment Opportunity Commission describing the racial, ethnic and gender composition of our U.S.-based workforce. Information on our website, including the ESG Report, shall not be deemed incorporated by reference into this annual report. We understand that our ability to operate in a multicultural world is critical to our long-term value creation. By maintaining a culture of diversity and inclusion, we believe that we can innovate more effectively. To that end, we seek to promote diverse perspectives throughout our organization and are an equal opportunity employer committed to making employment decisions without regard to race, religion, national or ethnic origin, sex, sexual orientation, gender identity or expression, age, disability, protected veteran status or other characteristics protected by law. Our commitment to diversity is evidenced by the advancement of the vibrant belonging collective formed by our four Employee Resources and Networking groups, now comprising of nearly 700 employees who enjoy this safe and engaging platform for dialogue and empowerment. During the fiscal year 2023, our groups conducted a series of workshops enhancing the visibility of our Hispanic communities in the workplace, recognizing the dedication of our veteran employees and empowering women to network, develop and share their stories. We continued to support working parents through our flexible working policies and networking opportunities provided by our Women’s Forum. These efforts serve as a testament to our dedication to fostering an inclusive workplace. Our commitment to creating a diverse and inclusive work environment is further validated by our 2023 People Experience Survey in which 85% of our employees felt safe to share their opinions and use their voices, providing over 31,000 comments. We continued to receive a high score in the area of Diversity and Inclusion. Amongst other comments, employees shared that they are proud of the emphasis we place on diversity and inclusion and on making our company a place where everyone is valued and respected. Training and Development We are committed to the continued development and training of our employees and we seek to provide them with meaningful learning opportunities to help grow their capabilities and careers. We provide such opportunities across all levels of our organization, covering a variety of professional, technical and leadership topics. We do so through a variety of channels and formats, including formal (classroom-based, blended learning solutions, digital learning) and informal, on-the-job learning. A pivotal component of our annual performance review and goal-setting process focuses on providing employees with constructive and actionable feedback, as well as management engagement in the creation and completion of development goals. In addition, employees have access to confidential, anonymous feedback through a process that is used as a development tool to help raise awareness on how they are perceived. Lastly, we recognize that professional development requires support of the whole person, and we therefore offer virtual coaching to help eligible employees meet their unique development goals, whether such goals are leadership or well-being focused. With regards to career growth, we regularly fill open vacancies with internal candidates. Our internal mobility program empowers employees to explore many different career options available to them. Career options vary based on the employee’s aspirations and can include specific project work, stretch assignments, job rotations, mentoring, networking, or internal job changes. Lastly, management periodically assesses succession planning for certain key positions and reviews our workforce to identify high potential employees for future growth and development. Health and Safety 12 Table of Contents Our success depends on the well-being of our employees, and one of our top priorities is to protect their health and safety. We maintain a culture focused on safety and strive to identify, eliminate and control risk in the workplace to prevent injury and illness. Many of our large manufacturing sites are ISO 45001 and 14001 certified with management systems embedded in operations. We continually strive to improve our environmental, health and safety ( “ EHS ” ) management systems across our entire footprint. A Revvity Global EHS Council engages our worldwide health and safety leaders to review, collaborate, and drive corporate EHS objectives across the company. Further, we provide our employees with a comprehensive benefits package that includes health insurance and other resources that support their physical and mental well-being. Community At Revvity, we have long held the view that responsible global citizenship along with good governance principles and ethical business practices are essential tenets for sustainability and success. We encourage our employees to support the communities in which they live and where we operate, and to assist in that effort, we fund a long-term charitable matching program for our employees. In addition, we have established a group comprised of management and subject matter experts at our company to focus on developing and delivering on measurable advancements in the areas of reducing waste, reducing carbon emissions and improving employee engagement and diversity.