Revvity (RVTY) Goldman Sachs 45th Annual Global Healthcare Conference summary

Market environment and performance

• Revenue, cost, and margin performance exceeded expectations, with continued market stabilization but no significant uptick in demand since Q3 2023.

• Portfolio differentiation began to show impact, supporting resilience in a challenging macro environment.

• No structural changes are seen in the market; current trends are viewed as cyclical, with innovation and preclinical R&D remaining essential.

• Diagnostic business, especially specialty diagnostics, provides a strong buffer during market cycles.

• Customer buying patterns remain stable, with no significant increase or decrease in activity.

Portfolio transformation and recurring revenue

• Shifted focus to recurring revenue and pharma/biotech, now representing 80% of revenue.

• Transformation over the past 3-5 years has led to organic growth outpacing peers.

• Internal synergies and collaborative efforts are expected to further enhance margins.

• Integration efforts aim for top-line growth 200 basis points above market and mid-30s% margin profile.

Regional and segment growth opportunities

• U.S. autoimmune portfolio is in early stages, with significant growth potential.

• China’s revenue is mainly from immunodiagnostics and newborn screening, with further expansion possible.

• EMEA and APAC regions, especially in newborn screening, remain underpenetrated and offer growth opportunities.

• Life sciences in China is poised for growth if stimulus occurs, but none is assumed in current guidance.