Revvity, Inc. stock research
FY2023 Q2
Revvity (RVTY) Gross Margin — Quarter Ended Jul 2, 2023
Revenue and gross profit both increased compared to the immediately preceding quarter, while cost of revenue also rose. Gross margin improved slightly, but remained lower than the same quarter one year earlier, when revenue and gross profit were higher and cost of revenue was lower.
Gross margin takeaway
Quarter ended Jul 2, 2023 · FY2023 Q2
Revenue and gross profit both increased compared to the immediately preceding quarter, while cost of revenue also rose. Gross margin improved slightly, but remained lower than the same quarter one year earlier, when revenue and gross profit were higher and cost of revenue was lower.
- The strongest observable margin driver is the relationship between revenue and cost of revenue: revenue grew faster than cost of revenue compared to the prior quarter, leading to a modest gross margin improvement.
- Compared to the immediately preceding quarter, gross margin was higher. Compared to the same quarter one year earlier, gross margin was lower.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
56.7%
Gross profit
$402.3M
Revenue
$709.1M
Cost of revenue
$306.7M
Quarter-over-quarter change
+0.2 pts
Year-over-year change
-4.9 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Apr 2, 2023 | $674.9M | $381.4M | $293.5M | 56.5% |
| Jul 2, 2023 | $709.1M | $402.3M | $306.7M | 56.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Apr 2, 2023
+0.2 pts
Year-over-year change
Jul 3, 2022
-4.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the relationship between revenue and cost of revenue: revenue grew faster than cost of revenue compared to the prior quarter, leading to a modest gross margin improvement.
Compared to the immediately preceding quarter, gross margin was higher. Compared to the same quarter one year earlier, gross margin was lower.
Monitor the trend in service revenue, which declined substantially compared to the same quarter one year earlier.