Transcript: Revvity Q2 2026 Earnings Conference Call

Revvity (NYSE: RVTY ) held its second-quarter earnings conference call on Tuesday.

Below is the complete transcript from the call.

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The full earnings call is available at Summary Revvity experienced strong financial performance with 3% organic growth in Q2 2026, driven by 11% growth in the Diagnostics segment and a slight decline in the Life Sciences segment.

The company raised its full-year guidance for organic growth to 4-5% and adjusted EPS to $5.30-$5.40, citing increasing demand from pharma and biotech markets, particularly in AI-driven science.

Revvity signed a definitive agreement to divest its China immunodiagnostics business by the end of 2027 as part of a strategic focus on core markets.

The company's high-content screening instruments, especially the Opera Phenix OptiQ, saw double-digit growth and strong backlog due to increased demand from AI-driven drug discovery.

Revvity's Signals software business is expected to return to double-digit growth in the second half of the year, with new offerings like Signals AI and Anthropic MCP connector enhancing its platform.

The Diagnostics segment showed strong performance with 11% organic growth, led by reproductive health and immunodiagnostics outside China.

Management highlighted strong operational execution with significant cash flow generation and a reduction in net leverage due to debt repayment.

Revvity's ongoing corporate transformation is progressing well, including the integration of ACD/Labs and operational efficiency initiatives.

Full Transcript Prahlad Singh, President and Chief Executive Officer For 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 will allow us to sharpen our focus on the end markets where our differentiated capabilities generate the highest and most durable returns for our shareholders.

While our reported GAAP results will continue to include the contribution from this business until the transaction is completed next year, all of our non-GAAP and organic performance commentary and guidance are provided on a pro forma basis, which excludes the immunodiagnostics business in China that we have agreed to divest.

Now turning to our end markets, I'm increasingly encouraged by what we continue to see.

The gradual improvement in demand from our pharma and biotech customer base that we began to observe in recent quarters continued into the second quarter, and we are now seeing tangible signs of a more constructive spending environment.

In particular, we are seeing a definitive and progressively larger increase in orders directly related to AI, reflecting demand from both traditional pharma and biotech customers as well as emerging demand from non-traditional customers that have not historically purchased from us.

These organizations are building AI-driven drug discovery platforms and are seeking capabilities that sit squarely within Revvity's portfolio.

That is why we are especially well positioned: AI may accelerate hypothesis generation, but those hypotheses still need to be tested, validated, and advanced through real-world biological data generation, lab-based experimentation, and software-enabled collaboration.

Together, this improving demand from existing customers and new demand from customers outside of our historical base contributed to a higher-than-normal level of instrument backlog exiting the second quarter, positioning us very well as we enter the second half of the year.

While we have touched on this over the past several quarters, demand for our high-content screening instruments—particularly our recently introduced new flagship instrument, the Opera Phenix OptiQ—remains extremely robust, with continued double-digit growth year over year despite more difficult year-ago comparisons.

Demand for high-content screening further accelerated during the second quarter, with order velocity outpacing near-term production capacity despite dedicating additional resources as the quarter progressed to support customer demand.

As a result, while we may have left some further incremental upside on the table in the quarter, it positions us even better as we move into the third quarter and back half of the year.

It is important to note that this build-out by our customers of additional capacity will also result in future improvements in demand for our related high-content screening reagents.

Because high-content screening is commonly used by customers to both generate new data and to validate existing hypotheses, it plays an increasingly important role in AI-driven discovery workflows where lab-generated insights can be fed back into AI models over time.

This acceleration in high-content screening demand is a tangible example of the AI adoption cycle I discussed with you last quarter beginning to play out.

At that time I described how we expect A