Revenues as Reported
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The annual revenue data indicates a consistent growth trend across all major segments from 2020 to 2024. Overall revenue shows a steady increase every year, rising from $4,358,400 thousand in 2020 to $8,352,100 thousand in 2024. This represents a significant expansion over the five-year period.
- Instruments and Accessories
- This segment demonstrates a strong upward trajectory, with revenue increasing from $2,455,700 thousand in 2020 to $5,079,000 thousand in 2024. The growth is consistent year-over-year, reflecting increasing demand or market penetration. The segment more than doubles over the period, which highlights its critical role in driving overall revenue growth.
- Systems
- Revenue from systems shows a different pattern. After a substantial increase from $1,178,900 thousand in 2020 to $1,693,400 thousand in 2021, the figures slightly decline and stabilize around $1,680,000 thousand through 2022 and 2023. There is a moderate rebound in 2024, reaching $1,966,000 thousand. This segment's growth is less consistent compared to instruments and accessories and indicates possible market saturation or other factors affecting sales.
- Services
- Service revenue increases steadily from $723,800 thousand in 2020 to $1,307,100 thousand in 2024. The growth rate is stable and indicates a growing revenue base from service-related offerings, potentially reflecting customer retention, expanded service contracts, or enhanced service capabilities.
- Overall Revenue
- The overall revenue growth is driven primarily by the instruments and accessories segment, followed by contributions from increasing services revenue. The systems segment displays moderate volatility but remains an important contributor. The cumulative effect results in a near doubling of total revenue over the five-year period.