Revvity, Inc. (NYSE:RVTY) Q4 2023 Earnings Call Transcript

We view the transition to SaaS as actually a differentiator for us versus our peers. We believe we are ahead of them in terms of that transition. And so although that might create a little bit of noise from a revenue recognition standpoint, it is the right thing to do for the business. And if we think our SaaS products are going to help us actually take share from our competition.

Prahlad Singh: Yes, and Luke, in the longer term, it definitely helps us increase revenue and reduce our volatility for that business, which I think is another one of the opportunities that the software business provides us from a differentiation perspective.

Operator: This concludes today’s question and answer session. I’d like to pass the call back over to Steve Willoughby for any closing remarks.

Steve Willoughby : Thank you. Thanks for your interesting question today. And we look forward to further discussions over the coming weeks. Have a good day, bye-bye.

Operator: This concludes today’s conference call. Thank you all for your participation. You may now disconnect your line.