Revvity, Inc. stock research
FY2024 Q1
Revvity (RVTY) Gross Margin — Quarter Ended Mar 31, 2024
Revenue decreased compared to both the prior quarter and the same quarter last year. Gross profit and gross margin also declined year over year, while cost of revenue was relatively stable year over year.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue decreased compared to both the prior quarter and the same quarter last year. Gross profit and gross margin also declined year over year, while cost of revenue was relatively stable year over year.
- The year-over-year decline in gross margin was driven by a lower gross profit relative to revenue, as cost of revenue remained nearly unchanged while revenue fell.
- Compared to the prior quarter, revenue was lower; gross profit and cost of revenue data for the prior quarter are not available. Compared to the same quarter last year, revenue, gross profit, and gross margin were all lower, while cost of revenue was slightly higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
54.6%
Gross profit
$355.0M
Revenue
$649.9M
Cost of revenue
$294.9M
Quarter-over-quarter change
-0.9 pts
Year-over-year change
-1.9 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% |
| Oct 1, 2023 | $670.7M | $372.5M | $298.2M | 55.5% |
| Mar 31, 2024 | $649.9M | $355.0M | $294.9M | 54.6% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Oct 1, 2023
-0.9 pts
Year-over-year change
Apr 2, 2023
-1.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The year-over-year decline in gross margin was driven by a lower gross profit relative to revenue, as cost of revenue remained nearly unchanged while revenue fell.
Compared to the prior quarter, revenue was lower; gross profit and cost of revenue data for the prior quarter are not available. Compared to the same quarter last year, revenue, gross profit, and gross margin were all lower, while cost of revenue was slightly higher.
Monitor the trend in cost of revenue relative to revenue, as it remained nearly unchanged year over year despite lower revenue.