Item 1. Unaudited Financial Statements

REVVITY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

			Three Months Ended
			April 5, 2026						March 30, 2025
			(In thousands, except per share data)
Product revenue			$	581,458					$	562,680
Service revenue			129,660						102,082
Total revenue			711,118						664,762
Cost of product revenue			273,320						250,155
Cost of service revenue			50,143						39,061
Total cost of revenue			323,463						289,216
Selling, general and administrative expenses			253,882						249,719
Research and development expenses			57,887						53,597
Operating income from continuing operations			75,886						72,230
Interest and other expense, net			25,894						19,848
Income from continuing operations before income taxes			49,992						52,382
Provision for income taxes			9,099						10,713
Income from continuing operations			40,893						41,669
(Loss) income from discontinued operations			(175)						568
Net income			$	40,718					$	42,237
Basic earnings per share:
Income from continuing operations			$	0.37					$	0.35
(Loss) income from discontinued operations			(0.00)						0.00
Net income			$	0.36					$	0.35
Diluted earnings per share:
Income from continuing operations			$	0.37					$	0.35
(Loss) income from discontinued operations			(0.00)						0.00
Net income			$	0.36					$	0.35
Weighted average shares of common stock outstanding:
Basic			111,852						120,137
Diluted			111,876						120,233

The accompanying notes are an integral part of these condensed consolidated financial statements.

REVVITY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(Unaudited)

			Three Months Ended
			April 5, 2026						March 30, 2025
			(In thousands)
Net income			$	40,718					$	42,237
Other comprehensive (loss) income:
Foreign currency translation adjustments, net of income taxes			(32,492)						79,654
Unrecognized prior service credits, net of income taxes			798						—
Unrealized gain on securities, net of income taxes			273						—
Other comprehensive (loss) income			(31,421)						79,654
Comprehensive income			$	9,297					$	121,891

The accompanying notes are an integral part of these condensed consolidated financial statements.

REVVITY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

			April 5, 2026						December 28, 2025
			(In thousands, except share and per share data)
Current assets:
Cash and cash equivalents			$	860,320					$	919,860
Accounts receivable, net			691,380						744,671
Inventories, net			387,505						379,497
Other current assets			189,112						195,719
Total current assets			2,128,317						2,239,747
Property, plant and equipment, net			465,636						479,249
Operating lease right-of-use assets, net			163,254						165,439
Intangible assets, net			2,306,534						2,347,003
Goodwill			6,610,750						6,613,493
Other assets, net			322,099						323,480
Total assets			$	11,996,590					$	12,168,411
Current liabilities:
Current portion of long-term debt			$	575,831					$	588,828
Accounts payable			169,679						185,464
Accrued expenses and other current liabilities			493,134						556,954
Total current liabilities			1,238,644						1,331,246
Long-term debt			2,632,072						2,631,236
Deferred taxes and other long-term liabilities			800,859						807,461
Operating lease liabilities			142,276						148,108
Total liabilities			4,813,851						4,918,051
Commitments and contingencies (see Note 14)
Stockholders’ equity:
Preferred stock—$1 par value per share, authorized 1,000,000 shares; none issued or outstanding			—						—
Common stock—$1 par value per share, authorized 300,000,000 shares; issued and outstanding 111,629,000 shares and 112,281,000 shares at April 5, 2026 and December 28, 2025, respectively			111,629						112,281
Capital in excess of par value			1,237,444						1,305,900
Retained earnings			6,087,222						6,054,314
Accumulated other comprehensive loss			(253,556)						(222,135)
Total stockholders’ equity			7,182,739						7,250,360
Total liabilities and stockholders’ equity			$	11,996,590					$	12,168,411

The accompanying notes are an integral part of these condensed consolidated financial statements.

REVVITY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(Unaudited)

			For the Three-Month Period Ended April 5, 2026
			Common Stock Shares						Common Stock Amount						Capital in Excess of Par Value						Retained Earnings						Accumulated Other Comprehensive Loss						Total Stockholders’ Equity
									(In thousands)
Balance, December 28, 2025			112,281						$	112,281					$	1,305,900					$	6,054,314					$	(222,135)					$	7,250,360
Net income			—						—						—						40,718						—						40,718
Other comprehensive loss			—						—						—						—						(31,421)						(31,421)
Dividends ($0.07 per common share, see Note 10)			—						—						—						(7,810)						—						(7,810)
Exercise of employee stock options			60						60						5,381						—						—						5,441
Issuance of common stock for employee stock purchase plans			13						13						1,216						—						—						1,229
Purchases of common stock			(837)						(837)						(83,700)						—						—						(84,537)
Issuance of common stock for long-term incentive program			112						112						5,758						—						—						5,870
Stock compensation			—						—						2,889						—						—						2,889
Balance, April 5, 2026			111,629						$	111,629					$	1,237,444					$	6,087,222					$	(253,556)					$	7,182,739

			For the Three-Month Period Ended March 30, 2025
			Common Stock Shares						Common Stock Amount						Capital in Excess of Par Value						Retained Earnings						Accumulated Other Comprehensive Loss						Total Stockholders’ Equity
									(In thousands)
Balance, December 29, 2024			120,646						$	120,646					$	2,097,110					$	5,845,223					$	(396,105)					$	7,666,874
Net income			—						—						—						42,237						—						42,237
Other comprehensive income			—						—						—						—						79,654						79,654
Dividends ($0.07 per common share, see Note 10)			—						—						—						(8,243)						—						(8,243)
Exercise of employee stock options			32						32						2,600						—						—						2,632
Issuance of common stock for employee stock purchase plans			12						12						1,260						—						—						1,272
Purchases of common stock			(1,356)						(1,356)						(153,631)						—						—						(154,987)
Issuance of common stock for long-term incentive program			75						75						5,524						—						—						5,599
Stock compensation			—						—						2,092						—						—						2,092
Balance, March 30, 2025			119,409						$	119,409					$	1,954,955					$	5,879,217					$	(316,451)					$	7,637,130

The accompanying notes are an integral part of these condensed consolidated financial statements.

REVVITY, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

			Three Months Ended
			April 5, 2026						March 30, 2025
			(In thousands)
Operating activities:
Net income			$	40,718					$	42,237
Loss (income) from discontinued operations, net of income taxes			175						(568)
Income from continuing operations			40,893						41,669
Adjustments to reconcile income from continuing operations to net cash provided by continuing operations:
Stock-based compensation			8,715						7,731
Restructuring and other costs			10,675						3,239
Depreciation and amortization			105,056						97,422
Change in fair value of contingent consideration			(99)						(625)
Amortization of deferred debt financing costs and accretion of discounts			1,139						1,102
Change in fair value of investments			4,204						(3,073)
Unrealized foreign exchange loss (gain)			100						(66)
Gain on disposition of businesses and assets, net			(5,074)						—
Changes in assets and liabilities which provided (used) cash:
Accounts receivable, net			61,547						18,140
Inventories			(12,838)						(5,486)
Accounts payable			(13,744)						8,854
Accrued expenses and other			(74,687)						(34,810)
Net cash provided by operating activities of continuing operations			125,887						134,097
Net cash used in operating activities of discontinued operations			(10,657)						(5,942)
Net cash provided by operating activities			115,230						128,155
Investing activities:
Capital expenditures			(19,775)						(15,982)
Purchases of investments and notes receivables			(1,055)						—
Proceeds from investments and notes receivables			677						—
Proceeds from disposition of property, plant and equipment			9,003						—
Proceeds from disposition of businesses and assets			158						229
Cash paid for acquisitions, net of cash acquired			(67,280)						—
Net cash used in investing activities of continuing operations			(78,272)						(15,753)
Net cash provided by investing activities of discontinued operations			—						9,375
Net cash used in investing activities			(78,272)						(6,378)
Financing activities:
Payments of debt financing issuance costs			—						(2,402)
Payments of other credit facilities			—						(50)
Payments for acquisition-related contingent consideration			—						(1,817)
Proceeds from issuance of common stock under stock plans			5,441						2,632
Purchases of common stock			(86,496)						(153,594)
Dividends paid			(7,840)						(8,433)
Net cash used in financing activities			(88,895)						(163,664)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			(7,627)						16,122

			Three Months Ended
			April 5, 2026						March 30, 2025
			(In thousands)
Net decrease in cash, cash equivalents and restricted cash			(59,564)						(25,765)
Cash, cash equivalents and restricted cash at beginning of period			921,030						1,164,452
Cash, cash equivalents and restricted cash at end of period			$	861,466					$	1,138,687
Supplemental disclosures of cash flow information
Reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total shown in the condensed consolidated statements of cash flows:
Cash and cash equivalents			$	860,320					$	1,137,620
Restricted cash included in other current assets			428						1,067
Restricted cash included in other assets			718						—
Total cash, cash equivalents and restricted cash shown in the condensed consolidated statements of cash flows			$	861,466					$	1,138,687

The accompanying notes are an integral part of these condensed consolidated financial statements.

REVVITY, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Note 1: Basis of Presentation

The condensed consolidated financial statements included herein have been prepared by Revvity, Inc. (the “Company”), in accordance with accounting principles generally accepted in the United States of America (the “U.S.” or the “United States”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information in the footnote disclosures of the financial statements has been condensed or omitted where it substantially duplicates information provided in the Company’s latest audited consolidated financial statements, in accordance with the rules and regulations of the SEC. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes included in its Annual Report on Form 10-K for the fiscal year ended December 28, 2025, filed with the SEC (the “2025 Form 10-K”). The balance sheet amounts at December 28, 2025 in this report were derived from the Company’s audited 2025 consolidated financial statements included in the 2025 Form 10-K. The condensed consolidated financial statements reflect all adjustments that, in the opinion of management, are necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the periods indicated. The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amounts and classifications of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The results of operations for the three months ended April 5, 2026 and March 30, 2025, respectively, are not necessarily indicative of the results for the entire fiscal year or any future period.

The Company’s fiscal year ends on the Sunday nearest December 31. The Company reports fiscal years under a 52/53 week format and as a result, certain fiscal years will contain 53 weeks. The fiscal year ending January 3, 2027 (“fiscal year 2026”) will include 53 weeks, and the fiscal year ended December 28, 2025 (“fiscal year 2025”) included 52 weeks.

Accounting Standards Not Yet Adopted: In December 2025, the FASB issued Accounting Standards Update 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities (“ASU 2025-10”), which establishes authoritative guidance on the recognition, measurement, presentation, and disclosure of government grants. Under ASU 2025-10, government grants are recognized when it is probable that the entity will both comply with the conditions of the grant and the grant will be received. ASU 2025-10 provides specific accounting models for grants related to assets and grants related to income, including options to recognize government grants as deferred income or as a reduction of the asset’s cost basis. ASU 2025-10 also requires enhanced disclosures regarding the nature of government grants, significant terms and conditions, accounting policies applied, and amounts recognized in the financial statements. ASU 2025-10 is effective for fiscal years beginning after December 15, 2028, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-10 but does not expect the impact of such adoption to be material.

In December 2025, the FASB issued Accounting Standards Update 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements (“ASU 2025-11”), which clarifies the guidance in Topic 270 to improve the consistency of interim financial reporting. ASU 2025-11 provides a comprehensive list of required interim disclosures and introduces a disclosure principle requiring entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. ASU 2025-11 is effective for fiscal years beginning after December 15, 2027, including interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of adopting ASU 2025-11.

In September 2025, the FASB issued Accounting Standards Update 2025-06, Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”). ASU 2025-06 amends certain aspects of the accounting for and disclosure of software costs. The amendments in this update are effective for annual reporting periods beginning after December 15, 2027, and interim periods within those annual reporting periods. Early adoption is permitted as of the beginning of an annual reporting period. The guidance may be applied prospectively, retrospectively, or via a modified prospective transition method. The Company is in the process of determining the impact of this guidance on its financial statements and disclosures.

In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2024-03, Disaggregation of Income Statement Expenses (“ASU 2024-03”). ASU 2024-03 will require public entities to disclose disaggregated information about specific natural expense categories underlying certain income statement expense line items. Such disclosures are required on an annual and interim basis in a tabular presentation in the footnotes to the financial statements. In addition, ASU 2024-03 requires public entities to disclose selling expenses on an annual and interim basis. The guidance is effective for annual periods beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is in the process of determining the impact of this guidance on its financial statements and disclosures. This accounting standard will increase disclosures in the Company’s annual and interim reporting when adopted.

Note 2: Revenue

Disaggregation of revenue

Disaggregated revenue by primary geographical markets and major goods and service lines are as follows:

			Reportable Segments
			Three Months Ended
			April 5, 2026																		March 30, 2025
			Life Sciences						Diagnostics						Total						Life Sciences						Diagnostics						Total
			(In thousands)
Primary geographical markets
Americas			$	185,551					$	130,441					$	315,992					$	184,279					$	120,350					$	304,629
Europe			91,695						131,351						223,046						76,022						105,770						181,792
Asia			84,599						87,481						172,080						80,094						98,247						178,341
			$	361,845					$	349,273					$	711,118					$	340,395					$	324,367					$	664,762
Major goods/service lines
Life Sciences Solutions			$	299,996					$	—					$	299,996					$	286,453					$	—					$	286,453
Software			61,849						—						61,849						53,942						—						53,942
Immunodiagnostics			—						201,831						201,831						—						197,562						197,562
Reproductive Health			—						147,442						147,442						—						126,805						126,805
			$	361,845					$	349,273					$	711,118					$	340,395					$	324,367					$	664,762

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. Unbilled receivables totaled $106.7 million at April 5, 2026, of which $74.4 million was included in “Accounts receivable, net” and $32.3 million was included in “Other assets, net” in the condensed consolidated balance sheet. Unbilled receivables totaled $105.6 million at December 28, 2025, of which $72.4 million was included in “Accounts receivable, net” and $33.2 million was included in “Other assets, net” in the condensed consolidated balance sheet. Unbilled receivables primarily related to software revenue.The Company had no material contract assets as of April 5, 2026 and December 28, 2025.

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 “Deferred taxes and other long-term liabilities” in the condensed consolidated balance sheets based on the timing of when the Company expects to recognize revenue. The deferred revenue balance is primarily related to the Company’s software as a service offerings, maintenance contracts and prepaid storage arrangements. Deferred revenue totaled $238.5 million at April 5, 2026, of which $171.7 million was included in “Accrued expenses and other current liabilities” and $66.8 million was included in “Deferred taxes and other long-term liabilities” in the condensed consolidated balance sheet. Deferred revenue totaled $224.8 million at December 28, 2025, of which $159.3 million was included in “Accrued expenses and other current liabilities” and $65.5 million was included in “Deferred taxes and other long-term liabilities” in the condensed consolidated balance sheet. The Company also had customer deposits received in advance of the transfer of control totaling $20.3 million and $19.3 million at April 5, 2026 and December 28, 2025, respectively, which was included in “Accrued expenses and other current liabilities” in the condensed consolidated balance sheet. The Company expects that these customer deposits will be recognized in revenue within three 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.

Note 3: Business Combinations

Acquisitions in fiscal year 2026

During the first quarter of fiscal year 2026, the Company completed its acquisition of Advanced Chemistry Development Inc. (“ACD/Labs”) for $72.0 million in cash paid at closing and up to $8.0 million in contingent consideration to be paid in cash based on the achievement of certain revenue metrics through 2028. ACD/Labs is based in Toronto, Canada, has approximately 200 employees, and is a provider of scientific software solutions that support analytical characterization and molecular design across pharmaceutical and material sciences end markets. The Company has reported the operations for this acquisition within the results of the Company’s Life Sciences segment from the acquisition date. Identifiable definite-lived intangible assets, such as developed technology ($30.1 million), trade names and trademarks ($0.8 million), customer relationships ($18.2 million) and backlog ($1.1 million), acquired as part of this acquisition had a weighted-average amortization period of 11.3 years. The Company recorded $32.0 million of goodwill in the period.

Note 4: Restructuring and Other Costs

Restructuring and other costs in the first quarter of fiscal year 2026 primarily consisted of charges associated with workforce reductions and facility consolidations in an effort to streamline operations, other exit costs, abandonments or associated asset write-downs, costs of terminating certain lease agreements or contracts, as well as costs associated with relocating facilities.

In the first quarter of fiscal year 2026, severance actions associated with facility consolidations and cost reduction measures affected approximately 2% of the Company’s workforce.

Restructuring and other costs in the first quarter of fiscal year 2025 primarily consisted of charges for workforce reductions and facility consolidations, abandonments or associated asset write-downs, costs of terminating certain lease agreements or contracts, as well as costs associated with relocating facilities.

Restructuring and other costs, which are included in the selling, general and administrative expenses in the consolidated statements of operations, by segment were as follows:

			Three Months Ended
			April 5, 2026						March 30, 2025
			(In thousands)
Life Sciences			$	3,229					$	2,528
Diagnostics			7,554						135
Corporate			(108)						576
			$	10,675					$	3,239

The following table summarizes the changes in the Company’s accrued restructuring balance for the first quarter of fiscal year 2026. Other amounts reported as restructuring and other costs during the three months ended April 5, 2026 in the accompanying statement of income have been summarized in the notes to the table. Remaining obligations related to these accounts are expected to be paid over the next 12 months and are included in accrued expenses and other current liabilities in the consolidated balance sheets.

			(In thousands)
Balance at December 28, 2025			$	17,793
Net restructuring charges incurred in 2026 (a)			7,746
Payments			(11,555)
Balance at April 5, 2026			$	13,984

(a) Excludes $2.9 million of charges, principally $1.2 million of lease abandonment charges and $0.4 million of acceleration of depreciation of fixed assets and other charges in the Diagnostics segment and $1.3 million of lease abandonment charges in the Life Sciences segment.

Note 5: Interest and Other Expense, Net

Interest and other expense, net, consisted of the following:

			Three Months Ended
			April 5, 2026						March 30, 2025
			(In thousands)
Interest income			$	(6,304)					$	(10,081)
Interest expense			24,718						22,964
Change in fair value of investments			4,204						(3,073)
Other components of net periodic pension (credit) cost			(251)						6,787
Foreign exchange losses and other expense, net			3,527						3,251
Total interest and other expense, net			$	25,894					$	19,848

Note 6: Inventories, net

Inventories, net consisted of the following:

			April 5, 2026						December 28, 2025
			(In thousands)
Raw materials			$	169,780					$	173,033
Work in progress			71,466						68,983
Finished goods			146,259						137,481
Total inventories, net			$	387,505					$	379,497

Note 7: Debt

The Company’s debt consisted of the following:

			April 5, 2026
			Outstanding Principal						Unamortized Debt Discount						Unamortized Debt Issuance Costs						Net Carrying Amount
			(In thousands)
Long-Term Debt:
Senior Unsecured Revolving Credit Facility			$	—					$	—					$	(2,677)					$	(2,677)
1.900% Senior Unsecured Notes due in 2028			500,000						(135)						(1,634)						498,231
3.3% Senior Unsecured Notes due in 2029			850,000						(1,101)						(3,048)						845,851
2.55% Senior Unsecured Notes due in March 2031			400,000						(71)						(1,871)						398,058
2.250% Senior Unsecured Notes due in September 2031			500,000						(883)						(2,537)						496,580
3.625% Senior Unsecured Notes due in 2051			400,000						(3)						(3,968)						396,029
Total Long-Term Debt			2,650,000						(2,193)						(15,735)						2,632,072
Current Portion of Long-term Debt:
€500,000 Principal 1.875% Senior Unsecured Notes due in 2026 (“2026 Notes”)			576,150						(174)						(145)						575,831
Total			$	3,226,150					$	(2,367)					$	(15,880)					$	3,207,903

On January 7, 2025, the Company entered into a senior unsecured revolving credit facility with a five-year term and a borrowing capacity of $1.5 billion available through January 7, 2030. Borrowings will bear interest, payable quarterly or, if earlier, at the end of any interest period, at the Company’s option at either (a) the base rate (as described in the credit agreement), or (b) the Term Secured Overnight Financing Rate (“Term SOFR”) (as described in the credit agreement), in each case plus a percentage spread based on the credit rating of the Company’s debt. The base rate is the highest of (a) the Federal Funds Rate (as defined in the credit agreement) plus 0.50%, (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate”, and (c) Term SOFR plus 1.00%. The credit agreement for the new facility contains customary affirmative, negative and financial covenants and events of default. The financial covenants include a debt-to-capitalization ratio that remains applicable for so long as the Company’s debt is rated as investment grade. In the event that the Company’s debt is not rated as investment grade, the debt-to-capitalization ratio covenant is replaced with leverage ratio and interest coverage ratio covenants.

Note 8: Earnings Per Share

Basic earnings per share was computed by dividing net income by the weighted-average number of common shares outstanding during the period less restricted unvested shares. Diluted earnings per share was computed by dividing net income by the weighted-average number of common shares outstanding plus all potentially dilutive common stock equivalents, primarily shares issuable upon the exercise of stock options using the treasury stock method. The following table reconciles the number of shares utilized in the earnings per share calculations:

			Three Months Ended
			April 5, 2026						March 30, 2025
			(In thousands)
Number of common shares—basic			111,852						120,137
Effect of dilutive securities:
Stock options			10						42
Restricted stock awards			14						54
Number of common shares—diluted			111,876						120,233
Number of potentially dilutive securities excluded from calculation due to antidilutive impact			1,455						1,134

Antidilutive securities include outstanding stock options with exercise prices and average unrecognized compensation cost in excess of the average fair market value of common stock for the related period. Antidilutive options were excluded from the calculation of diluted net income per share and could become dilutive in the future.

Note 9: Segment 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 Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer (“CEO”). The CEO evaluates the performance of the Company’s 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, Nature of Operations and Accounting Policies, to the audited consolidated financial statements in the 2025 Form 10-K.

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 CODM evaluates the performance of Company’s segments is adjusted operating income. Adjusted operating income 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 segment assets are not 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:

			April 5, 2026																		March 30, 2025
			Life Sciences						Diagnostics						Total						Life Sciences						Diagnostics						Total
			(In thousands)
Segment revenue			$	361,845					$	349,273					$	711,118					$	340,395					$	324,367					$	664,762
Segment cost of revenue			131,574						156,753												119,321						135,190
Segment selling, general and administrative expenses			94,668						90,192												87,094						89,891
Segment research and development expenses			31,624						26,206												28,269						25,271
Segment operating income			$	103,979					$	76,122					180,101						$	105,711					$	74,015					179,726
Corporate expenses															(12,247)																		(9,815)
Amortization of intangible assets															(85,081)																		(82,700)
Purchase accounting adjustments															(141)																		177
Acquisition and divestiture-related costs															(282)																		(2,541)
Disposition of businesses and assets, net															5,074																		—
Transformation costs															(794)																		—
Significant litigation matters and settlements															(69)																		(10,586)
Significant environmental matters															—																		1,208
Restructuring and other															(10,675)																		(3,239)
Interest and other expense, net															(25,894)																		(19,848)
Income from continuing operations before income taxes															$	49,992																	$	52,382

Depreciation expense included in the Company’s reportable segment operating income and corporate expenses is as follows:

			Three Months Ended
			April 5, 2026						March 30, 2025
			(In thousands)
Life Sciences			$	9,905					$	7,185
Diagnostics			9,560						6,846
Corporate			510						691
Total depreciation expense			$	19,975					$	14,722

Note 10: Stockholders’ Equity

Comprehensive Income:

The components of accumulated other comprehensive loss consisted of the following:

			April 5, 2026						December 28, 2025
			(In thousands)
Foreign currency translation adjustments, net of income taxes			$	(253,554)					$	(221,062)
Unrecognized prior service costs, net of income taxes			—						(798)
Unrealized net losses on marketable securities, net of income taxes			(2)						(275)
Accumulated other comprehensive loss			$	(253,556)					$	(222,135)

The unrealized foreign exchange losses (gains), net of income taxes, on intercompany debt for which repayment is not anticipated in the foreseeable future that was recorded in accumulated other comprehensive income (“AOCI”) were $39.9 million and $(58.1) million for the three months ended April 5, 2026 and March 30, 2025, respectively.

Income tax (benefit) expense related to foreign currency translation adjustments recognized in AOCI was $(12.9) million for the three months ended April 5, 2026 and $4.2 million for the three months ended March 30, 2025.

Stock Repurchases:

On October 23, 2025, the Company’s Board of Directors (the “Board”) authorized the Company to repurchase shares of common stock for an aggregate amount up to $1.0 billion under a stock repurchase program (the “Repurchase Program”). The Repurchase Program will expire on October 22, 2027 unless terminated earlier by the Board and may be suspended or discontinued at any time. During the three months ended April 5, 2026, the Company repurchased 784,142 shares of common stock under the Repurchase Program for an aggregate cost of $79.0 million. As of April 5, 2026, $800.5 million remained available for aggregate repurchases of shares under the Repurchase Program.

Subsequent to the first quarter of fiscal year 2026, the Company repurchased 93,303 shares of common stock under the Repurchase Program at an aggregate cost of $7.8 million.

In addition, the Board has authorized the Company to repurchase shares of common stock to satisfy minimum statutory tax withholding obligations in connection with the vesting of restricted stock awards and restricted stock unit awards granted pursuant to the Company’s equity incentive plans and to satisfy obligations related to the exercise of stock options made pursuant to the Company’s equity incentive plans. During the three months ended April 5, 2026, the Company repurchased 51,115 shares of common stock for this purpose at an aggregate cost of $5.0 million. The repurchased shares have been reflected as additional authorized but unissued shares, with the payments reflected in common stock and capital in excess of par value.

Dividends:

The Board declared a regular quarterly cash dividend of $0.07 per share for the first quarter of fiscal year 2026 and in each quarter of fiscal year 2025. At April 5, 2026, the Company had accrued $7.8 million for dividends declared on January 26, 2026 for the first quarter of fiscal year 2026 that were paid in May 2026. On April 30, 2026, the Company announced that the Board had declared a quarterly dividend of $0.07 per share for the second quarter of fiscal year 2026 that will be payable in August 2026. In the future, the Board may determine to reduce or eliminate the Company’s common stock dividend in order to fund investments for growth, repurchase shares or conserve capital resources.

Note 11: Goodwill and Intangible Assets, Net

The Company tests goodwill at least annually for possible impairment. The Company completes the annual testing of impairment for goodwill on the later of November 1 or the first day of its eleventh fiscal month of each fiscal year. In addition to its annual test, the Company regularly evaluates whether events or circumstances have occurred that may indicate a potential impairment of goodwill.

The process of testing goodwill for impairment involves the determination of the fair value of the applicable reporting units. The test consists of the comparison of the fair value to the carrying value of the reporting unit to determine if the carrying value exceeds the fair value. If the carrying value of the reporting unit exceeds its fair value, an impairment loss in an amount equal to that excess is recognized up to the amount of goodwill.

The changes in the carrying amount of goodwill for the three months ended April 5, 2026 were as follows:

			Life Sciences						Diagnostics						Consolidated
			(In thousands)
Balance at December 28, 2025			$	4,744,962					$	1,868,531					$	6,613,493
Foreign currency translation			(24,952)						(9,826)						(34,778)
Acquisitions			32,035						—						32,035
Balance at April 5, 2026			$	4,752,045					$	1,858,705					$	6,610,750

Identifiable intangible asset balances by category were as follows:

			April 5, 2026						December 28, 2025
			(In thousands)
Patents			$	27,592					$	27,592
Less: Accumulated amortization			(26,579)						(26,524)
Net patents			1,013						1,068
Trade names and trademarks			148,996						150,103
Less: Accumulated amortization			(103,298)						(102,234)
Net trade names and trademarks			45,698						47,869
Licenses			27,550						27,561
Less: Accumulated amortization			(20,214)						(19,849)
Net licenses			7,336						7,712
Core technology			1,641,071						1,624,925
Less: Accumulated amortization			(945,967)						(921,325)
Net core technology			695,104						703,600
Customer relationships			2,886,388						2,870,384
Less: Accumulated amortization			(1,329,005)						(1,283,630)
Net customer relationships			1,557,383						1,586,754
Total			$	2,306,534					$	2,347,003

Total amortization expense related to amortizable intangible assets was $85.1 million and $82.7 million for the three months ended April 5, 2026 and March 30, 2025, respectively. Estimated amortization expense related to amortizable intangible assets is $254.5 million for the remainder of fiscal year 2026, $312.7 million for fiscal year 2027, $286.8 million for fiscal year 2028, $256.7 million for fiscal year 2029, and $227.9 million for fiscal year 2030.

Note 12: Derivatives and Hedging Activities

The Company uses derivative instruments as part of its risk management strategy only, and includes derivatives utilized as economic hedges that are not designated as hedging instruments. By nature, all financial instruments involve market and credit risks. The Company enters into derivative instruments with major investment grade financial institutions and has policies to monitor the credit risk of those counterparties. The Company does not enter into derivative contracts for trading or other speculative purposes, nor does the Company use leveraged financial instruments. Approximately 60% of the Company’s business is conducted outside of the United States, generally in foreign currencies. As a result, fluctuations in foreign currency exchange rates can increase the costs of financing, investing and operating the business.

In the ordinary course of business, the Company enters into foreign exchange contracts for periods consistent with its committed exposures to mitigate the effect of foreign currency movements on transactions denominated in foreign currencies. The intent of these economic hedges is to offset gains and losses that occur on the underlying exposures from these currencies, with gains and losses resulting from the forward currency contracts that hedge these exposures. Transactions covered by hedge contracts include intercompany and third-party receivables and payables. The contracts are primarily in European and Asian currencies, have maturities that do not exceed 12 months, have no cash requirements until maturity, and are recorded at fair value on the Company’s condensed consolidated balance sheets. The unrealized gains and losses on the Company’s foreign currency contracts are recognized immediately in interest and other expense, net. The cash flows related to the settlement of these hedges are included in cash flows from operating activities within the Company’s condensed consolidated statement of cash flows.

Principal hedged currencies include the Chinese Renminbi, British Pound, Euro and Singapore Dollar. The Company held forward foreign exchange contracts, designated as economic hedges, with U.S. dollar equivalent notional amounts totaling $459.8 million and $598.4 million at April 5, 2026 and December 28, 2025, respectively, and the fair value of these foreign currency derivative contracts was insignificant. The gains and losses realized on these foreign currency derivative contracts are not material. The duration of these contracts was generally 30 days or less during each of the three months ended April 5, 2026 and March 30, 2025.

During fiscal year 2018, the Company designated a portion of the 2026 Notes to hedge its net investments in certain foreign subsidiaries. Unrealized translation adjustments from a portion of the 2026 Notes were included in the foreign currency translation component of AOCI, which offsets translation adjustments on the underlying net assets of foreign subsidiaries. The cumulative translation gains or losses will remain in AOCI until the foreign subsidiaries are liquidated or sold. As of April 5, 2026, the total notional amount of the 2026 Notes that was designated to hedge net investments in foreign subsidiaries was €498.6 million. The unrealized foreign exchange (gains) losses recorded in AOCI related to the net investment hedge were $(13.3) million and $19.2 million for the three months ended April 5, 2026 and March 30, 2025, respectively.

The Company does not expect any material net pre-tax gains or losses to be reclassified from accumulated other comprehensive loss into interest and other expense, net within the next twelve months.

Note 13: Fair Value Measurements

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash equivalents, derivatives, marketable securities, accounts receivable and notes receivable. The Company believes it had no significant concentrations of credit risk as of April 5, 2026.

The Company uses the market approach technique to value its financial instruments and there were no changes in valuation techniques during the three months ended April 5, 2026. The Company’s financial assets and liabilities carried at fair value are primarily comprised of marketable securities, derivative contracts used to hedge the Company’s currency risk, and acquisition and divestiture related contingent consideration. The Company has not elected to measure any additional financial instruments or other items at fair value.

Valuation Hierarchy: The following summarizes the three levels of inputs required to measure fair value. For Level 1 inputs, the Company utilizes quoted market prices as these instruments have active markets. For Level 2 inputs, the Company utilizes quoted market prices in markets that are not active, broker or dealer quotations, or utilizes alternative pricing sources with reasonable levels of price transparency. For Level 3 inputs, the Company utilizes unobservable inputs based on the best information available, including estimates by management primarily based on information provided by third-party fund managers, independent brokerage firms and insurance companies. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible.

The following tables show the assets and liabilities carried at fair value measured on a recurring basis as of April 5, 2026 and December 28, 2025 classified in one of the three classifications described above:

									Fair Value Measurements at April 5, 2026 Using:
			Total Carrying Value at April 5, 2026						Quoted Prices in Active Markets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
			(In thousands)
Marketable securities - available for sale			$	22,865					$	22,865					$	—					$	—
Foreign exchange derivative assets			585						—						585						—
Foreign exchange derivative liabilities			(381)						—						(381)						—
Contingent consideration asset			14,890						—						—						14,890
Contingent consideration liabilities			(25,011)						—						—						(25,011)

									Fair Value Measurements at December 28, 2025 Using:
			Total Carrying Value at December 28, 2025						Quoted Prices in Active Markets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
			(In thousands)
Marketable securities - available for sale			$	27,956					$	27,956					$	—					$	—
Foreign exchange derivative assets			1,832						—						1,832						—
Foreign exchange derivative liabilities			(1,487)						—						(1,487)						—
Contingent consideration asset			14,890						—						—						14,890
Contingent consideration liabilities			(17,869)						—						—						(17,869)

Level 1 and Level 2 Valuation Techniques: The Company’s Level 1 and Level 2 assets and liabilities are comprised of investments in equity and fixed-income securities as well as derivative contracts. For financial assets and liabilities that utilize Level 1 and Level 2 inputs, the Company utilizes both direct and indirect observable price quotes, including common stock price quotes, foreign exchange forward prices and bank price quotes. Below is a summary of valuation techniques for Level 1 and Level 2 financial assets and liabilities.

Marketable securities - available for sale: Includes equity and mutual fund investments measured at fair value using the quoted market prices in active markets at the reporting date.

Foreign exchange derivative assets and liabilities: Include foreign exchange derivative contracts that are valued using quoted forward foreign exchange prices at the reporting date. The Company’s foreign exchange derivative contracts are subject to master netting arrangements that allow the Company and its counterparties to net settle amounts owed to each other. Derivative assets and liabilities that can be net settled under these arrangements have been presented in the Company’s condensed consolidated balance sheet on a net basis and are recorded in other assets. As of both April 5, 2026 and December 28, 2025, none of the master netting arrangements involved collateral.

Level 3 Valuation Techniques: The Company’s Level 3 assets and liabilities are comprised of contingent consideration related to the sale of certain assets and the equity interests constituting the Company’s Applied, Food and Enterprise Services business (the “Business”) during fiscal year 2023 and acquisitions. For assets and liabilities that utilize Level 3 inputs, the Company uses significant unobservable inputs. Below is a summary of valuation techniques for Level 3 assets and liabilities.

Contingent consideration: Contingent consideration is measured at fair value at the disposition or acquisition date using projected milestone dates, discount rates, volatility, probabilities of success and projected achievement of financial targets, including revenues of the acquired business in many instances. Projected risk-adjusted contingent payments are discounted back to the current period using a discounted cash flow model.

The fair value of the contingent consideration asset was initially measured using a lattice model and recognized upon the sale of the Business on March 13, 2023. In accordance with the terms of the sale of the Business, the Company is entitled to receive up to $150.0 million that is contingent on the exit valuation the buyer and its affiliated funds receive on a sale or other capital event related to the Business. Potential valuation adjustments may be made as additional information and market factors that impact the expected exit valuation of the Business becomes available, with the impact of such adjustments being recorded in the Company’s condensed consolidated statements of operations. Adjustments to the fair value since initial recognition were not material. As of April 5, 2026 and December 28, 2025, the carrying value of the contingent consideration asset was $14.9 million.

The fair values of contingent consideration liabilities are calculated on a quarterly basis based on a collaborative effort of the Company’s operations, finance and accounting groups, as appropriate. Valuation adjustments are made as additional information becomes available, including the progress towards achieving the revenue targets, with the impact of such adjustments being recorded in the Company’s condensed consolidated statements of operations.

A reconciliation of the beginning and ending Level 3 contingent consideration liabilities is as follows:

			Three Months Ended
			April 5, 2026						March 30, 2025
			(In thousands)
Balance at beginning of period			$	(17,869)					$	(21,753)
Additions			(8,000)						—
Amounts paid and foreign currency translation			759						1,388
Change in fair value (included within selling, general and administrative expenses)			99						625
Balance at end of period			$	(25,011)					$	(19,740)

Financial Instruments Not Recorded at Fair Value

The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value due to the short-term maturities of these assets and liabilities. If measured at fair value, cash and cash equivalents would be classified as Level 1.

The Company’s outstanding senior unsecured notes had an aggregate fair value of $2,950.6 million and an aggregate carrying value of $3,210.6 million as of April 5, 2026. The Company’s outstanding senior unsecured notes had an aggregate fair value of $2,963.7 million and an aggregate carrying value of $3,222.9 million as of December 28, 2025. The fair values of the outstanding senior unsecured notes were estimated using market quotes from brokers and were based on current rates offered for similar debt, which are Level 2 measurements.

Note 14: Contingencies

The Company is conducting a number of environmental investigations and remedial actions at current and former locations of the Company and, along with other companies, has been named a potentially responsible party (“PRP”) for certain waste disposal sites. The Company accrues for environmental issues in the accounting period that the Company’s responsibility is established and when the cost can be reasonably estimated. The Company has accrued $10.7 million and $10.8 million as of April 5, 2026 and December 28, 2025, respectively, which represents its 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. These amounts were included in accrued expenses and other current liabilities. The Company’s 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 the Company has been named a PRP, management does not currently anticipate any additional liability to result from the inability of other significant named parties to contribute. The Company expects 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 the Company’s condensed consolidated financial statements. While it is possible that a loss exceeding the amounts recorded in the condensed consolidated financial statements may be incurred, the potential exposure is not expected to be materially different from those amounts recorded.

The Company is subject to various claims, legal proceedings and investigations covering a wide range of matters that arise in the ordinary course of its business activities, including product liability claims. Legal defense costs are recognized as incurred, and insurance recoveries are recognized when collection is probable. Although the Company has established accruals for potential losses that it believes are probable and reasonably estimable, in the opinion of the Company’s management, based on its review of the information available at the reporting date, the total cost of resolving these contingencies at April 5, 2026 should not have a material adverse effect on the Company’s condensed consolidated financial statements. However, each of these matters is subject to uncertainties, and it is possible that some of these matters may be resolved unfavorably to the Company.