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Illumina Inc. ILMN

SEC filings · Reporting currency USD · Quarterly reporting · Figures as of 2026-Q2 · updated 2026-09-06 · ISIN US4523271090
Margin compressing Guidance raised Revenue accelerating ◦
The new quarter, monitored by AI. · We follow every stock through its original filings: the latest figures against their history, guidance against actuals; neutral, continuously updated, every figure clickable with its source.
AI-generated report · not investment advice · figures extracted automatically; please verify against the linked original more
AI-generatedCreated with AI assistance from the company's linked original filings (transparency per Art. 50 EU AI Act). More about the tool: Claude Code.
Not investment adviceNeutral financial information, no recommendation, no investment research within the meaning of MiFID II.
Verify yourselfFigures are extracted automatically, errors are possible. Every figure is clickable with its source; the issuer's original documents are always authoritative.
EditorialThe texts (business model, current status, development and others) are written AI-editorially from the original reports alone, cross-checked automatically and backed with sources; the company's own account, no assessment of our own. Methodology
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Business Model#

What the company does and how it earns its money; written AI-editorially, exclusively from the company's original reports, without any assessment of our own.

Illumina is a life sciences company that develops and commercializes next-generation sequencing and array-based solutions for genetic analysis. Its revenue is derived from instruments, consumables (including flow cells, reagents, and library preparation kits), and services, with consumables providing recurring revenue through an installed-base attach model tied to platforms such as NovaSeq X. The company serves research institutions, academic laboratories, pharmaceutical and biotechnology companies, clinical diagnostics providers, and government entities globally. Through the SomaLogic acquisition, Illumina has extended its addressable market into proteomics, broadening its portfolio toward a multiomics platform strategy.

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Current Status#

Summary of the most recent reporting period: core figures, drivers and management statements; written editorially from the current original report, every figure backed by a source number.

Illumina reported Q2 2026 revenue of $1,159.0 million, a 9.5% increase from Q2 2025, with rest-of-world organic revenue growth of 8.1% excluding currency and acquisitions 33. GAAP operating income was $245.0 million and adjusted operating income was $260.0 million, with net income of $207.0 million and diluted EPS of $1.35 133. The company raised its fiscal year 2026 guidance for both revenue and non-GAAP diluted EPS 33. YTD revenue was also supported by consumables and NovaSeq X instrument demand alongside the SomaLogic acquisition completed earlier in the fiscal year 34.
Management commentary on the 2026-Q2 results (8-K-EX99.1, 2026-07-30):
„Illumina delivered strong results during the second quarter. Momentum continued to build through the first half of 2026, as our technology is enabling clinical customers to expand sequencing-intensive applications. Based on this performance, we are increasing our revenue and earnings guidance for the year. Demand for NovaSeq X remains high as we expand our workflow and multiomics capabilities, broadening the value of Illumina's ecosystem.“ – Jacob Thaysen, Chief Executive Officer 33
Revenue · 2026-Q21,159$m+9.4 % vs. 2025-Q2
Net profit · 2026-Q2207$m−11.9 % vs. 2025-Q2
EPS · 2026-Q21.35$−9.4 % vs. 2025-Q2
Revenue trend
Guidance
For FY2026, the company guides EPS (non-GAAP) to $5.30-$5.40 (raised); ROW organic revenue growth to greater than 5% (raised); Revenue to $4.60-$4.64 billion (raised). 33.
Profitability
GAAP operating income was $245.0 million and adjusted operating income was $260.0 million in Q2 2026 133. Net income was $207.0 million, with GAAP diluted EPS of $1.35 and non-GAAP diluted EPS of $1.31 133. Free cash flow was $162.0 million, on operating cash flow of $201.0 million and capital expenditures of $39.0 million 133.
Leverage
Cash and cash equivalents stood at $1,040.0 million against net debt of $451.0 million as of June 28, 2026 133. The cash position decreased $378 million from the prior fiscal year end, primarily due to the SomaLogic acquisition and share repurchases 34. Illumina has $500 million of 4.750% Term Notes due December 2030 outstanding, issued in November 2025, contributing to the current net debt position 34.
Management view
Illumina raised fiscal year 2026 revenue guidance to $4.60–$4.64 billion and non-GAAP diluted EPS guidance to $5.30–$5.40, up from prior ranges of $4.52–$4.62 billion and $5.15–$5.30 respectively 33. Expansion of NovaSeq X workflows and multiomics capabilities, including integration of SomaLogic's proteomics platform, is identified as a strategic product priority 33 34.
Change
Non-GAAP operating margin narrowed to 22.5% in Q2 2026 from 23.8% in Q2 2025 33. Free cash flow declined from $204 million in Q2 2025 due to higher capital expenditures during the quarter 33. Tariffs, inflation, and geopolitical conflicts continued as operating headwinds during the period 34.
Risks (current)
Illumina remains on China's Unreliable Entities List, creating ongoing market access uncertainty in that region 33. Integration risk related to the SomaLogic and Standard BioTools assets, including manufacturing execution for SomaLogic products, represents a company-specific operational risk, and reductions in U.S. government NIH funding could impair research customer demand 33 34. Tariff uncertainty, armed conflicts affecting fuel and shipping costs, and potential additional litigation connected to the prior GRAIL acquisition represent further macroeconomic and legal exposures 33 34.
New this reporting period
The SomaLogic acquisition was completed on January 30, 2026 for a total purchase price of $460 million, adding proteomics capabilities and advancing Illumina's multiomics strategy 34. The Board authorized a new 2026 Repurchase Program for up to $1.5 billion in April 2026, supplementing a prior $1.5 billion authorization, with $279 million and $1.5 billion remaining under the respective programs as of June 28, 2026 34. Expansion of NovaSeq X workflows and multiomics capabilities is an ongoing planned product initiative 33.
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Price & Chart#

Interactive price chart (TradingView) and the trend of key figures from the core tables. The price chart loads only after a click; at that point a connection to TradingView is established.

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Share-Price Drivers#

Factors the company itself names as material for its business development (IR-based); reproduced neutrally, no price forecast and no assessment of our own.

NovaSeq X installed-base ramp and consumables pull-through
NovaSeq X remains the central platform being expanded with new workflow and multiomics capabilities, and its transition drives high-margin consumable revenue as the installed base scales (31, 33, 6e0b86c04d)
NovaSeq X platform expansion
NovaSeq X launched 2023 and still actively developed through 2026-Q2 with workflow and multiomics enhancements; total revenue rose to 1,159 in 2026-Q2 from 1,059 a year earlier (31, 33, 133)
Multiomics build-out (proteomics, spatial, single cell)
SomaLogic proteomics acquisition closed, plus Illumina Protein Prep, Single Cell 3' RNA Prep, Constellation mapped-read and spatial solutions launched 2025 (34, 30, 26)
Oncology testing franchise (TruSight Oncology)
TSO 500 v2 launched 2025-Q2, TSO Comprehensive approved in Japan, and pharma development partnerships added 2025-Q3 (24, 26)
Profitability and free-cash-flow trajectory
Adjusted operating income and FCF held firm (2026-Q2 FCF 162 on 260 adj. operating income); change flags show growth accelerating and profitability improving (133, change flags)
Capital structure and buyback activity
2030 term notes issued 2025-11 and a 2026 repurchase program authorized 2026-04; net debt 451 at 2026-Q2 (34)
Forward revenue guidance
No guidance flag reported alongside the latest quarter (change flags)

Sector trend: Sequencing demand KPIs are firming as instrument-platform expansion lifts consumables pull-through and revenue re-accelerates toward high-single-digit year-over-year growth, while adjusted operating margins and free cash flow hold steady (133, 34).

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Event Timeline#

This timeline collects the material events from the original reports: guidance changes, revenue and margin signals, strategy shifts, product and M&A announcements. Events are grouped by quarter (most recent first); the grey tag before each event names the event type, the date is the publication date of the source. Management quotes open the quarter block as direct quotes. Per quarter we show the three most defining events; more can be expanded per quarter, older years are collapsed. Every event carries its source as a superscript, clickable number.

Overview: one dot per event · click jumps to the period
earningsrevenuemarginguidancestrategyfinancials2023-Q12023-Q22023-Q32023-Q42024-Q12024-Q22024-Q32024-Q42025-Q12025-Q22025-Q32025-Q4FY20252026-Q12026-Q2
2026 · 6 events

2026-Q2 · Apr – Jun 2026

„Illumina delivered strong results during the second quarter. Momentum continued to build through the first half of 2026, as our technology is enabling clinical customers to expand sequencing-intensive applications. Based on this performance, we are increasing our revenue and earnings guidance for the year. Demand for NovaSeq X remains high as we expand our workflow and multiomics capabilities, broadening the value of Illumina's ecosystem.“ – Jacob Thaysen, Chief Executive Officer 33
Revenue accelerating ◦ 2026-07-30
Q2 revenue up 9.5% to $1.16 billion; ROW organic revenue growth of 8.1% excluding currency and acquisitions 33
Margin compressing 2026-07-30
Non-GAAP operating margin declined to 22.5% in Q2 2026 from 23.8% in Q2 2025 33
Guidance raised 2026-07-30
FY2026 revenue guidance raised to $4.60-$4.64 billion; non-GAAP diluted EPS guidance raised to $5.30-$5.40 33

2026-Q1 · Jan – Mar 2026

„Illumina delivered a strong start to 2026, reflecting strength of the Illumina ecosystem and progress against our strategy. Demand for NovaSeq X is increasing as we help our clinical customers expand into new application areas. With our strong first quarter performance, we are raising our full-year revenue and EPS guidance.“ – Jacob Thaysen, Chief Executive Officer 31
Acquisition 2026-05-04
Acquired SomaLogic for $460 million to expand presence in proteomics market and advance multiomics strategy 32
revenue 2026-04-30
Q1 revenue up 4.8% to $1.09 billion driven by NovaSeq X high-throughput consumables and instruments demand 31 32
Guidance raised 2026-04-30
FY2026 revenue guidance raised to $4.52-$4.62 billion; non-GAAP diluted EPS guidance raised to $5.15-$5.30 31
2025 · 18 events

FY2025 · Jan – Dec 2025

Operating income turned positive 2026-01-13
Operating income turned positive for the first time after 2 negative fiscal years (-833.0 to +807.0 USDm). 28
Net income turned positive 2026-01-13
Net income turned positive for the first time after 2 negative fiscal years (-1223.0 to +850.0 USDm). 28

2025-Q4 · Oct – Dec 2025

„The Illumina team delivered a strong finish to 2025, marking a return to growth through disciplined execution against our strategy. Momentum built in the second half of the year – especially in clinical markets, where adoption of NGS-based testing is expanding – reinforces our confidence as we enter 2026.“ – Jacob Thaysen, Chief Executive Officer 29
Revenue accelerating 2026-02-05
Q4 2025 revenue $1.16 billion, up 5% reported (4% constant currency) from Q4 2024; ex-China revenue up 8% reported and 7% constant currency 29
Guidance initiated 2026-02-05
FY2026 revenue guidance of $4.5 billion to $4.6 billion, representing 4%–6% reported growth, including a 1.5%–2.0% contribution from the recently closed SomaLogic acquisition 29
Acquisition 2026-02-05
Completed acquisition of SomaLogic from Standard BioTools for $350 million expanding multiomics portfolio with NGS-enabled proteomics; separately, MOFCOM lifted sequencing instrument export ban though Illumina remains on China's Unreliable Entities List 29
Net cash to net debt 2026-02-05
Net debt position flipped (-56.0 to +72.0 USDm vs 2025-Q3). 129

2025-Q3 · Jul – Sep 2025

„I am pleased to announce that the Illumina team delivered Q325 results that exceeded the high-end of our guidance range for revenue and earnings, driven by revenue acceleration in clinical, our largest market segment. During the quarter, we returned to growth ex-China and are executing on our strategic pillars that support our long-range financial targets.“ – Jacob Thaysen, Chief Executive Officer 26
Revenue decelerating 2025-10-30
Revenue $1.08 billion in Q3 2025, flat compared to Q3 2024 on both reported and constant currency basis, improving from first-half declines; nine-month revenue down 2% constant currency 26
Margin expanding 2025-10-30
Non-GAAP operating margin of 24.5% in Q3 2025; YTD gross margin improved to 66.3% from 65.3% in YTD 2024, partly reflecting removal of lower-margin GRAIL operations following the June 2024 spin-off 26 27
New market 2025-10-30
Launched BioInsight, a new business to accelerate technology and data-driven discovery initiatives 26
Net debt to net cash 2025-10-30
Net debt position flipped (+558.0 to -56.0 USDm vs 2025-Q2). 126
Net income halved 2025-10-30
Net income more than halved YoY (705.0 to 150.0 USDm, -79%). 126

2025-Q2 · Apr – Jun 2025

„The Illumina team again delivered results that exceeded our guidance, driven by the continued ramp in X consumables, as well as accelerating growth in clinical, our largest customer segment. In research, we are actively helping our customers navigate a constrained funding environment. Even in these challenging conditions, the team's focus on operational excellence helped drive margin expansion, enabling us to increase our expectations for the year.“ – Jacob Thaysen, Chief Executive Officer 24
Margin expanding 2025-07-31
Non-GAAP operating margin improved to 23.8% in Q2 2025 from 22.2% in Q2 2024 24
Guidance raised 2025-07-31
FY2025 constant currency revenue guidance raised to (2.5%) to (0.5%) decline and non-GAAP operating margin guidance raised to approximately 22%–22.5% 24
Acquisition 2025-07-31
Definitive agreement to acquire SomaLogic and specified assets from Standard BioTools for $350 million in cash plus up to $75 million in milestone payments, expected to close H1 2026 24

2025-Q1 · Jan – Mar 2025

„I'm proud that the Illumina team delivered strong Q1 revenue and EPS, a good start to the year in an increasingly dynamic business environment. Our outlook for the year has weakened due to shifting policy and geopolitical developments and we have taken swift incremental actions to protect our earnings. Our strategic focus remains on customer collaboration, driving differentiated innovations, and delivering on our long-term financial targets of growth and profitability.“ – Jacob Thaysen, Chief Executive Officer 22
Strategic pivot 2025-05-09
China added Illumina to Unreliable Entities List in February 2025 and prohibited sequencing instrument exports from March 2025, materially reducing Greater China revenue access for the year 23
Revenue decelerating 2025-05-08
Core Illumina revenue $1.04 billion, down 1% reported (flat constant currency) in Q1 2025; total revenue down 3% primarily due to removal of GRAIL contribution following the June 2024 GRAIL Spin-Off and decreased service and other revenue 22 23
Strategic pivot 2025-05-08
Incremental $100 million cost reduction program implemented including workforce reductions and productivity measures to mitigate Greater China revenue and operating income impact 22
Cash flow inflection 2025-05-08
Operating cash flow reached 240.0 USDm vs 77.0 USDm in 2024-Q1 (×3.1). 131
2024 · 15 events

2024-Q4 · Oct – Dec 2024

„The Illumina team delivered fourth quarter revenue that exceeded our expectations, and we made significant progress in 2024 toward our goals to drive customer-centric innovation, margin expansion, and EPS growth. For 2025, we will continue our transformation, executing our refreshed strategy that prioritizes a sharp focus on customers and our own operational excellence in order to drive Illumina forward.“ – Jacob Thaysen, Chief Executive Officer 20
Margin expanding 2025-02-06
FY2024 Core Illumina non-GAAP operating margin of 21.3% and Q4 2024 non-GAAP operating margin of 19.7%, reflecting sustained improvement in product mix and operational efficiency versus prior-year levels (20)
revenue 2025-01-14
Core Illumina Q4 2024 revenue increased 1% from Q4 2023 to approximately $1.1B, the first quarter of year-over-year growth in fiscal 2024 (19, 20)
Guidance initiated 2025-01-14
FY2025 guidance introduced: low single-digit constant currency revenue growth, non-GAAP operating margin approximately 23%, non-GAAP diluted EPS of $4.50-$4.65 (19, 20)

2024-Q3 · Jul – Sep 2024

„The near-term macroeconomic environment remains constrained, and we are slightly lowering our 2024 revenue guidance. The underlying demand for Illumina's products and applications remains strong and we are demonstrating significant progress in driving margin and earnings expansion.“ – Jacob Thaysen, Chief Executive Officer 17
Net income turned positive 2024-11-06
GAAP net income of $705M in Q3 2024 versus net loss of $1,988M in Q2 2024; improvement driven by absence of Q2's $1,886M GRAIL impairment charges and recognition of $481M gain from European Commission's September 2024 withdrawal of its €432M fine – not reflecting recurring operational improvement (18, 126)
Guidance cut 2024-11-04
FY2024 Core Illumina revenue guidance lowered to approximately -3% from fiscal 2023, reflecting continued instrument demand weakness (17)
Guidance raised 2024-11-04
FY2024 Core Illumina non-GAAP operating margin guidance raised to 21%-21.5% and non-GAAP diluted EPS guidance raised to $4.05-$4.15 (17)
Operating income turned positive 2024-11-04
Operating income turned positive for the first time after 9 negative periods (-1637.0 to +244.0 USDm). 126
EBITDA turned positive 2024-11-04
EBITDA turned positive for the first time after 4 negative periods (-1532.0 to +314.0 USDm). 126

2024-Q2 · Apr – Jun 2024

„The Illumina team delivered results ahead of our expectations in the quarter, driven by disciplined execution on our strategic priorities. Consumable sales remained solid as customers continued to increase their sequencing activity, but instrument demand has softened in a constrained funding environment. We are progressing our operating excellence initiatives and will deliver expanded margins this year.“ – Jacob Thaysen, Chief Executive Officer 15
Revenue decelerating 2024-08-06
Core Illumina revenue declined 6% year-over-year to $1.09B in Q2 2024, driven by softer instrument demand in a constrained funding environment despite solid consumable sales (15)
Guidance raised 2024-08-06
FY2024 Core Illumina non-GAAP operating margin guidance raised to 20.5%-21%; non-GAAP diluted EPS guidance of $3.80-$3.95 introduced for the first time (15)
Divestiture 2024-08-06
GRAIL spin-off completed June 24, 2024; Illumina retained approximately 14.5% of GRAIL shares and distributed 85.5% to stockholders; transaction triggered $1,886M in goodwill and intangible impairment charges (15, 16)

2024-Q1 · Jan – Mar 2024

„The Illumina team delivered results ahead of our expectations by supporting our customers with innovative solutions that enable the next wave of progress in genomics and multiomics. Our customers are leveraging the NovaSeq X to drive increased sequencing activity, even in a persistently challenging global macroeconomic environment. Additionally, our team's strong execution and continued focus on operational excellence enabled us to deliver year-over-year improvement in both gross margin and non-GAAP operating margin.“ – Jacob Thaysen, Chief Executive Officer 13
Revenue decelerating 2024-05-03
Consolidated revenue declined 1% to $1,076M in Q1 2024; Core Illumina revenue down 2%, driven by fewer high-throughput and mid-throughput instrument shipments (14, 13)
Margin expanding 2024-05-02
Core Illumina non-GAAP operating margin expanded to 20.6% from 17.4% in Q1 2023, supported by favorable consumables mix and operational excellence cost savings (13)
Divestiture 2024-05-02
European Commission approved GRAIL divestment plan in April 2024; Illumina on track to finalize divestiture terms by end of Q2 2024 (13)
Cash flow inflection 2024-05-02
Operating cash flow reached 77.0 USDm vs 10.0 USDm in 2023-Q1 (×7.7). 13
2023 · 15 events

2023-Q4 · Oct – Dec 2023

„I'm pleased that in the fourth quarter, my first full quarter with the company, Illumina delivered results ahead of our expectations, driven by NovaSeq X instrument and consumables sales. While our customers generally remain constrained in their purchasing, we are well-positioned for growth as market conditions improve. Illumina is focused on three key priorities to accelerate value creation: driving our top line; focusing on operational excellence, including boosting productivity, cost savings, and customer-focused innovation; and working to resolve GRAIL as quickly as possible.“ – Jacob Thaysen, Chief Executive Officer 11
Revenue accelerating 2024-02-08
Q4 2023 revenue of $1,122 million increased 4% YoY, the strongest year-over-year growth quarter of fiscal 2023; full-year FY2023 revenue declined 2% to $4,504 million 11
Guidance initiated 2024-02-08
FY2024 guidance issued: Core Illumina revenue approximately flat year-over-year, non-GAAP operating margin approximately 20% 11
Divestiture 2024-02-08
Announced decision to divest GRAIL through third-party sale or capital markets transaction, targeting finalization of terms by end of Q2 2024 11 12

2023-Q3 · Jul – Sep 2023

„While the environment remains challenging, I am confident in our ability to navigate it and position the company for long-term success. I came to Illumina for the opportunity presented by our core business. While I evaluate the company's strategy, we will remain focused on driving on further placements of the NovaSeq X, which will boost consumables demand. We will also continue optimizing our operations and drive stronger execution.“ – Jacob Thaysen, Chief Executive Officer 8
earnings 2023-11-13
Q3 GAAP operating loss widened to $(754) million, including $712 million in GRAIL goodwill impairment and $109 million in intangible asset impairment charges 8 9
Strategic pivot 2023-11-09
New CEO Jacob Thaysen, Ph.D. started September 25, 2023 8
Divestiture 2023-11-09
Retained advisors and preparing Form 10 filing for GRAIL divestiture in accordance with European Commission divestiture order 8

2023-Q2 · Apr – Jun 2023

„Illumina's second quarter consolidated revenue grew 8% sequentially from the first quarter, and we saw higher-than-anticipated NovaSeq X shipments. Despite additional placements, we expect our second half revenue to be negatively impacted by customers remaining more cautious in their purchasing, a more protracted recovery in China, and a larger than expected temporary decline in high throughput consumables as customers transition to the NovaSeq X. In response, we are increasing customer support for the NovaSeq X and continue to manage our expense base in a disciplined way.“ – Charles Dadswell, Interim Chief Executive Officer 6
Revenue accelerating 2023-08-09
Q2 2023 revenue of $1,176 million rose 1% YoY, recovering from Q1 2023's 11% year-over-year decline, and up 8% sequentially 6
Margin compressing 2023-08-09
Core Illumina non-GAAP operating margin declined to 7.0% from 12.2% in Q2 2022 due to NovaSeq X platform launch costs and lower manufacturing volumes 6
Strategic pivot 2023-08-09
Three new independent directors named, Stephen MacMillan elected non-executive chair, and Charles Dadswell appointed Interim CEO 6

2023-Q1 · Jan – Mar 2023

„The year is off to a solid start, led by NovaSeq X outperforming expectations in both customer demand and manufacturing supply. We shipped 67 NovaSeq X instruments in the first quarter, exceeding our plan. Demand remains strong, with our quarter-end NovaSeq X order book standing at over 200 instruments. We continue to work closely with our customers and partners to help them manage the challenging macroeconomic environment and to deliver on our 2023 goals. Our commitment to higher margins will set Illumina on the best path to deliver long-term sustainable success for our shareholders.“ – Francis deSouza, Chief Executive Officer 4
Margin compressing 2023-05-05
Gross margin fell to 60.3% from 66.6% in Q1 2022, driven by lower manufacturing volumes and lower instrument margins from NovaSeq X launch 5
Revenue decelerating 2023-05-05
Q1 2023 revenue declined 11% YoY (9% constant currency) to $1,087 million, driven by lower sequencing consumables and instruments 5
Strategic pivot 2023-04-25
Announced plan to reduce annualized run rate expenses by more than $100 million beginning later in 2023 4
Net income turned positive 2023-04-25
Net income turned positive for the first time after 3 negative periods (-140.0 to +3.0 USDm). 113
EBITDA turned positive 2023-04-25
EBITDA turned positive for the first time after 3 negative periods (-21.0 to +43.0 USDm). 113
Net income halved 2023-04-25
Net income more than halved YoY (169.0 to 3.0 USDm, -98%). 113
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Key Figures ($m)#

The company's core financial figures in three views, one below the other: fiscal years (as reported; after restatements the table shows the most recent filing version, marked), half-years (6-month basis, H2 = second half on its own) and quarters (3-month basis, not cumulative). Each row is one period, most recent first. Values with a dotted underline are clickable and show the raw value, the exact source location, the scale evidence and the source; derived values additionally show their formula and inputs. All values are extracted automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original.

All figures serve only to support your own investment decision and are not a recommendation; the company's original reports are authoritative.

Revenue ($m) · annual basis, as reported
FY2023FY2023: 4,5044,504FY2024FY2024: 4,3724,372FY2025FY2025: 4,3434,343
Net income ($m) · annual basis, as reported
FY2023FY2023: -1,161-1,161FY2024FY2024: -1,223-1,223FY2025FY2025: 850850
EPS ($) · annual basis, as reported
FY2023FY2023: -7.34-7.34FY2024FY2024: -7.69-7.69FY2025FY2025: 5.455.45
Operating cash flow ($m) · annual basis, as reported
FY2023FY2023: 478478FY2024FY2024: 837837FY2025FY2025: 1,0791,079
Revenue ($m) · quarterly basis, as reported
2024-Q32024-Q3: 1,0801,0802024-Q42024-Q4: 1,1041,1042025-Q12025-Q1: 1,0411,0412025-Q22025-Q2: 1,0591,0592025-Q32025-Q3: 1,0841,0842025-Q42025-Q4: 1,1591,1592026-Q12026-Q1: 1,0911,0912026-Q22026-Q2: 1,1591,159
Net income ($m) · quarterly basis, as reported
2024-Q32024-Q3: 7057052024-Q42024-Q4: 1871872025-Q12025-Q1: 1311312025-Q22025-Q2: 2352352025-Q32025-Q3: 1501502025-Q42025-Q4: 3343342026-Q12026-Q1: 1341342026-Q22026-Q2: 207207
EPS ($) · quarterly basis, as reported
2024-Q32024-Q3: 4.424.422024-Q42024-Q4: 1.181.182025-Q12025-Q1: 0.820.822025-Q22025-Q2: 1.491.492025-Q32025-Q3: 0.980.982025-Q42025-Q4: 2.142.142026-Q12026-Q1: 0.870.872026-Q22026-Q2: 1.351.35
Operating cash flow ($m) · quarterly basis, as reported
2024-Q32024-Q3: 3163162024-Q42024-Q4: 3643642025-Q12025-Q1: 2402402025-Q22025-Q2: 2342342025-Q32025-Q3: 2842842025-Q42025-Q4: 3213212026-Q12026-Q1: 2892892026-Q22026-Q2: 201201
Cash ($m) · annual basis, as reported
FY2023FY2023: 1,0481,048FY2024FY2024: 1,1271,127FY2025FY2025: 1,4181,418
Debt ($m) · annual basis, as reported
FY2023FY2023: 1,4891,489FY2024FY2024: 1,4901,490FY2025FY2025: 1,4901,490
Net Debt ($m) · annual basis, as reported
FY2023FY2023: 441441FY2024FY2024: 363363FY2025FY2025: 7272
Capex ($m) · annual basis, as reported
FY2023FY2023: 195195FY2024FY2024: 128128FY2025FY2025: 148148
FCF ($m) · annual basis, as reported
FY2023FY2023: 283283FY2024FY2024: 709709FY2025FY2025: 931931
D&A ($m) · annual basis, as reported
FY2023FY2023: 432432FY2024FY2024: 354354FY2025FY2025: 270270
Cash ($m) · quarterly basis, as reported
2024-Q32024-Q3: 8698692024-Q42024-Q4: 1,1271,1272025-Q12025-Q1: 1,1131,1132025-Q22025-Q2: 9349342025-Q32025-Q3: 1,0501,0502025-Q42025-Q4: 1,4181,4182026-Q12026-Q1: 1,0891,0892026-Q22026-Q2: 1,0401,040
Debt ($m) · quarterly basis, as reported
2024-Q32024-Q3: 1,9881,9882024-Q42024-Q4: 1,4901,4902025-Q12025-Q1: 1,4911,4912025-Q22025-Q2: 1,4921,4922025-Q32025-Q3: 9949942025-Q42025-Q4: 1,4901,4902026-Q12026-Q1: 1,4901,4902026-Q22026-Q2: 1,4911,491
Net Debt ($m) · quarterly basis, as reported
2024-Q32024-Q3: 1,1191,1192024-Q42024-Q4: 3633632025-Q12025-Q1: 3783782025-Q22025-Q2: 5585582025-Q32025-Q3: -56-562025-Q42025-Q4: 72722026-Q12026-Q1: 4014012026-Q22026-Q2: 451451
Capex ($m) · quarterly basis, as reported
2024-Q32024-Q3: 32322024-Q42024-Q4: 42422025-Q12025-Q1: 32322025-Q22025-Q2: 30302025-Q32025-Q3: 31312025-Q42025-Q4: 54542026-Q12026-Q1: 38382026-Q22026-Q2: 3939
FCF ($m) · quarterly basis, as reported
2024-Q32024-Q3: 2842842024-Q42024-Q4: 3223222025-Q12025-Q1: 2082082025-Q22025-Q2: 2042042025-Q32025-Q3: 2532532025-Q42025-Q4: 2672672026-Q12026-Q1: 2512512026-Q22026-Q2: 162162
D&A ($m) · quarterly basis, as reported
2024-Q32024-Q3: 70702024-Q42024-Q4: 71712025-Q12025-Q1: 69692025-Q22025-Q2: 68682025-Q32025-Q3: 67672025-Q42025-Q4: 66662026-Q12026-Q1: 69692026-Q22026-Q2: 7070
Shown: the most recent fiscal years. Full history since FY2015 is on record.

Fiscal years

Amounts in $m · EPS in $ per share · as reported
PeriodRevenueOp. incomeOp. income (adj.)Net incomeEPS ($)EPS adj. ($)OCFSource
FY20254,3438071,0048505.454.841,07928
FY20244,372-833922-1,223-7.694.1683721
FY20234,504-1,069884-1,161-7.340.8647812

Quarters

Amounts in $m · EPS in $ per share · as reported
PeriodPublishedRevenueOp. incomeOp. income (adj.)Net incomeEPS ($)EPS adj. ($)FCFCashNet DebtSource
2026-Q2*2026-07-301,1592452602071.351.311621,040451133
2026-Q1*2026-04-301,0912092391340.871.152511,08940131
2025-Q4*2026-02-051,1592022753342.14*1.352671,41872129
2025-Q3*2025-10-301,0842272651500.981.342531,050-56126
2025-Q2*2025-07-311,0592142522351.491.1920493455824
2025-Q1*2025-05-081,0411642121310.820.972081,11337822
2024-Q4*2025-02-061,1041752181871.18*0.953221,12736320
2024-Q3*2024-11-041,0802442447054.421.142848691,11917
2024-Q2*2024-08-061,112-1,637242-1,988-12.481.0921192057015
2024-Q1*2024-05-021,076-111218-126-0.790.97411,10838213
2023-Q4*2024-02-081,122-164203-176-1.11*0.141731,04844111
2023-Q3*2023-11-091,119-754249-754-4.770.3394927562108
2023-Q2*2023-08-091,176-88245-234-1.480.32581,5536856
2023-Q1*2023-04-251,087-6418730.020.08-421,4947424
* derived: values with formula provenance (hover); Q4 = FY − 9M · H2 = FY − H1 · EPS via implied shares · net debt = financial debt − cash · FCF = OCF − |capex|.
Columns not reported in this reporting cadence are hidden: EBITDA (adj.), Net Debt/EBITDA (not reported in any source for these periods).
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Balance Sheet & Cash Flow ($m)#

Point-in-time balance sheet items (e.g. cash, financial debt) and cash flow items (operating cash flow, investments/capex) per fiscal year, half-year and quarter. Balance sheet values are as of the period end, flow items cover the period. Derived values are marked and are calculated, for example, as: net debt = financial debt − cash; free cash flow = operating cash flow − capex; the click popover shows formula and inputs. All values are extracted automatically from the filings; errors are possible; please verify decision-relevant figures yourself by clicking through to the linked original.

Fiscal years

Amounts in $m · as reported
PeriodPublishedCashDebtNet DebtD&AOCFCapexFCFSource
FY20252026-02-051,4181,490722701,07914893129
FY20242025-01-141,1271,49036335483712870919
FY20232024-02-081,0481,48944143247819528311

Quarters

Amounts in $m · as reported
PeriodPublishedCashDebtNet DebtD&AOCFCapexFCFSource
2026-Q22026-07-301,0401,4914517020139162133
2026-Q12026-04-301,0891,490401692893825131
2025-Q42026-02-051,4181,490726632154267129
2025-Q32025-10-301,050994-566728431253126
2025-Q22025-07-319341,492558682343020424
2025-Q12025-05-081,1131,491378692403220822
2024-Q42025-02-061,1271,490363713644232220
2024-Q32024-11-048691,9881,119703163228417
2024-Q22024-08-069201,4905701052433221115
2024-Q12024-05-021,1081,49038210877364113
2023-Q42024-02-081,0481,4894411092245117311
2023-Q32023-11-099271,4895621081394594108
2023-Q22023-08-091,5532,23868510810547586
2023-Q12023-04-251,4942,2367421071052-424
Debt = long-term + current · Net debt = debt − cash · FCF = OCF − capex.
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Revenue by Type (as of 2026-Q2 · USDm · 0/1)#

Revenue split by segment or product type, exactly as the company itself reports it. The basis is stated next to each value (3, 6 or 12 months); segment totals can deviate from group revenue (reconciliation/consolidation items). If the company changes its segment structure, older structures are kept in the expandable part. Rows in grey are no longer reported separately by the company; they show the last available figures and are never extrapolated.

SegmentSincePeriodBasisRevenueSource
GRAIL2022-Q12024-Q13M2714
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Products & M&A (14/39 active+recent)#

Product announcements from the reports; market launches, approvals, partnerships; with first mention (date) and source. “Active/current” means: still mentioned in the most recent reports; what the company no longer mentions moves to the expandable part but is never deleted. Rows in grey are discontinued products.

Product/LineSinceStatusSource
NovaSeq X workflow and multiomics capabilities expansion2026-06Launched33
5-base solution (2x)2025-10Launched26
TruSight Oncology pharmaceutical development partnerships2025-09Launched26
Illumina Protein Prep2025-09Launched30
Constellation mapped read technology (2×)2025-09Launched30
BioInsight2025-09Launched26
TruSight Oncology (TSO) Comprehensive approval from Japan's Ministry of Health, Labour and Welfare2025-06Launched24
PromoterAI2025-06Launched24
Spatial transcriptomics technology2025-03Launched22
Illumina Single Cell 3' RNA Prep2025-01Launched30
Billion Cell Atlas2025Launched29
DRAGEN v4.4 software (2×)2024-06Launched24
TruSight Oncology 500 ctDNA v2 launch (3×)2023-09Launched24
2030 Term Notes issuance (4×)2021-03Launched34
UK Biobank proteomics pilot program2024-12Launched20
TruSight Oncology expansion2024-12Launched20
Regeneron collaboration and Truveta Genome Project investment2024-12Launched20
NVIDIA collaboration for multiomic data analysis2024-12Launched20
Updates on whole-genome sequencing, proteomics, and single-cell technology2024-09Launched17
TSO Comprehensive with two companion diagnostics2024-09Launched17
Bengaluru global capability center2024-09Launched17
TruSight Oncology 500 HT high-throughput version expansion2024-06Launched15
XLEAP-SBS chemistry on NextSeq 1000 and NextSeq 2000 Systems (2×)2024-03Launched15
Illumina Complete Long Reads (ICLR) with Enrichment2024-03Launched13
MiSeq i100 Series (2×)2024Launched27
REACH/Galleri-Medicare study initiation2023-12Launched11
Global Health Access Initiative launch2023-12Launched11
Illumina Solutions Center in Bengaluru, India2023-09Launched8
25B flow cell (300-cycle kit) for NovaSeq X2023-09Launched8
Convertible senior notes due August 15, 20232023-08Launched5
PrimateAI-3D2023-06Launched6
GRAIL SYMPLIFY study results (2×)2023-06Launched6
DRAGEN 4.22023-06Launched6
Illumina Connected Insights2023-03Launched4
Illumina Complete Long Read Prep, Human2023-03Launched4
Revolving Credit Agreement2023-01Stable32
XLEAP-SBS sequencing chemistry launch (2×)2023Launched21
NovaSeq X Plus launch (3×)2023Launched9
NovaSeq X (2×)2023Launched31
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M&A (22)#

All recorded acquisitions (purchases) and divestitures/exits with date, short description and source; deliberately including smaller transactions that summaries often miss. Purchase prices appear only where the company itself has disclosed them. Rows in grey are cancelled transactions; the cancellation date is shown in the row.

Acquisitions · 18Divestitures/exits · 4
20242025

Acquisitions

Transaction / stakeDateTypeSource
SomaLogic acquisition from Standard BioTools (2×)2025-06Completed28
Tempus partnership for clinical adoption2025-03Completed22
Broad Institute flagship collaboration project2025-03Completed22
Broad Clinical Labs collaboration2025-03Completed22
SomaLogic acquisition2025Completed34
2026 Repurchase Program authorization (3×)2024-08Completed34
Fluent Biosciences acquisition2024-06Completed15
Collaboration with AstraZeneca for GRAIL risk classification test2024-03Completed13
Janssen collaboration on molecular residual disease assay2023-12Completed11
GRAIL Galleri pilot expansion with Point32Health2023-09Completed8
GRAIL Galleri collaboration with HCA Healthcare2023-09Completed8
Pillar Biosciences partnership2023-06Completed6
Alliance for Genomic Discovery expansion (2×)2023-06Completed11
Partnership with Henry Ford Health for genomic testing in cardiovascular disease2023-03Completed4
Partnership with FirstHealth of the Carolinas for Galleri offering2023-03Completed4
John Hancock expanded Galleri access for Vitality PLUS program2023-03Completed4
Expanded partnership with Providence Health System for Galleri2023-03Completed4
Expanded partnership with Myriad Genetics for TSO 500 HRD oncology testing2023-03Completed4

Divestitures / exits

Transaction / stakeDateTypeSource
GRAIL spin-off (2×)2024-06Divested30
GRAIL acquisition2023-12Divested14
European Commission fine for GRAIL acquisition2023-07Divested6
Potential GRAIL divestment2023-06Divested7
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Reported KPIs (as disclosed) (199)#

Figures the company discloses itself in addition to the standard financials; order intake, recurring revenue, user or unit counts, adjusted measures. These “story KPIs” usually slip through standard databases; here they are collected as reported, with no calculation of our own. Important: the definition comes from the company itself and can differ from firm to firm; period and source are stated next to every value.

Company-specific KPIs verbatim from the filings (English, as disclosed; not normalised). Balance-sheet and boilerplate items filtered.
DatePeriodKPIValue / changeSource
2026-07-312026-Q2total cash and investments$1,16834
2026-07-312026-Q2short-term investments$12834
2026-07-312026-Q2revolving credit facility$75034
2026-07-312026-Q2operating margin YTD 202620.2%34
2026-07-312026-Q2operating margin YTD 202518.0%34
2026-07-312026-Q2gross margin YTD 202666.2%34
2026-07-312026-Q2gross margin YTD 202565.6%34
2026-07-312026-Q2gross margin Q2 202666.4%34
2026-07-312026-Q2gross margin Q2 202565.6%34
2026-07-312026-Q2effective tax rate YTD 202618.4%34
2026-07-312026-Q2effective tax rate YTD 202525.1%34
2026-07-312026-Q2effective tax rate Q2 202620.5%34
2026-07-312026-Q2effective tax rate Q2 202523.4%34
2026-07-312026-Q2contingent consideration liability GRAIL$4034
2026-07-312026-Q2cash and cash equivalents$1,04034
2026-07-312026-Q22026 repurchase program remaining$1.534
2026-07-312026-Q22024 repurchase program remaining$27934
2026-07-302026-Q2short-term investments128 (USD millions)33
2026-07-302026-Q2cash flow from operating activities$20133
2026-07-302026-Q2Cash and cash equivalents$1,04033
2026-07-302026-Q2Capital expenditures$3933
2026-05-042026-Q1short-term investments$66 million32
2026-05-042026-Q1Operating margin19.2%32
2026-05-042026-Q1Gross margin66.1%32
2026-05-042026-Q1Effective tax rate14.8%32
2026-05-042026-Q1Cash and cash equivalents$1,089 million32
2026-04-302026-Q1Cash and short-term investments$1.16 billion31
2026-04-302026-Q1Cash and cash equivalents$1,08931
2026-02-12FY2025Voluntary turnover rate8%30
2026-02-12FY2025short-term investments215 million30
2026-02-12FY2025Foreign subsidiaries cash444 million30
2026-02-12FY2025Cash and equivalents1,418 million30
2026-02-12FY2025R&D expense$967 million30
2026-02-12FY2025Pending patent applications outside the U.S.4,21830
2026-02-12FY2025Pending U.S. patent applications1,12030
2026-02-12FY2025Issued patents outside the U.S.7,65330
2026-02-12FY2025Issued U.S. patents1,38030
2026-02-12FY2025Backlog to be shipped in 202713%30
2026-02-12FY2025Backlog to be shipped in 202677%30
2026-02-12FY2025Backlog$738 million30
2026-01-13FY2025Ex-China revenue (Q4 2025)approximately $1.100 billion28
2026-01-13FY2025Ex-China revenue (FY2025)approximately $4.10 billion28
2026-02-052025-Q4short-term investments$215 million29
2026-02-052025-Q4Cash and cash equivalents$1,418 million29
2025-10-312025-Q3Total cash equivalents and investments1,278 (USD millions)27
2025-10-312025-Q3short-term investments228 (USD millions)27
2025-10-312025-Q3share repurchase authorization available68427
2025-10-312025-Q3GRAIL contingent consideration liability4327
2025-10-312025-Q3Foreign subsidiaries cash501 (USD millions)27
2025-10-312025-Q3cash and cash equivalents1,050 (USD millions)27
2025-10-302025-Q3total cash and investments$1,28026
2025-10-302025-Q3short-term investments$22826
2025-10-302025-Q3Cash and equivalents$1,05026
2025-07-312025-Q2short-term investments$22124
2025-07-312025-Q2Operating cash flow$23424
2025-07-312025-Q2Cash and cash equivalents$93424
2025-05-092025-Q1taxes paid net share settlement$2223
2025-05-092025-Q1strategic investments purchased$2423
2025-05-092025-Q1stock repurchased$20023
2025-05-092025-Q1short-term investments$12423
2025-05-092025-Q1share repurchase remaining available$1.223
2025-05-092025-Q1share repurchase authorization$1.523
2025-05-092025-Q1share-based compensation expense$7323
2025-05-092025-Q1revolving credit facility$75023
2025-05-092025-Q1gross margin core Illumina65.6%23
2025-05-092025-Q1gross margin consolidated65.6%23
2025-05-092025-Q1Greater China region revenue 2024$30823
2025-05-092025-Q1estimated tariff cost impact$8523
2025-05-092025-Q1depreciation and amortization expense$6923
2025-05-092025-Q1covered revenues Q4 2024$3823
2025-05-092025-Q1covered revenue payments paid Q1 2025$360,00023
2025-05-092025-Q1contingent consideration long-term liabilities$5923
2025-05-092025-Q1contingent consideration liability related to GRAIL$6123
2025-05-092025-Q1cash held by foreign subsidiaries$43223
2025-05-092025-Q1cash and cash equivalents and short-term investments$1,23723
2025-05-092025-Q1cash and cash equivalents$1,11323
2025-05-092025-Q1capital expenditures$3223
2025-05-092025-Q1capital commitments callable recallable distributions$1023
2025-05-092025-Q1capital commitments callable$323
2025-05-092025-Q12031 Term Notes principal$50023
2025-05-092025-Q12031 Term Notes interest rate2.550%23
2025-05-092025-Q12027 Term Notes principal$50023
2025-05-092025-Q12027 Term Notes interest rate5.750%23
2025-05-092025-Q12026 Term Notes principal$50023
2025-05-092025-Q12026 Term Notes interest rate4.650%23
2025-05-092025-Q12025 Term Notes principal$50023
2025-05-092025-Q12025 Term Notes interest rate5.800%23
2025-05-082025-Q1tariff related costs$85 million22
2025-05-082025-Q1short-term investments$12422
2025-05-082025-Q1cash, cash equivalents and short-term investments$1.24 billion22
2025-05-082025-Q1Cash and cash equivalents$1,11322
2025-02-12FY2024short-term investments$93 million21
2025-02-12FY2024Cash and cash equivalents$1,127 million21
2025-02-12FY2024Backlog$657 million21
2025-02-062024-Q4term debt$1,98920
2025-02-062024-Q4stockholders equity$2,37320
2025-02-062024-Q4short-term investments$9320
2025-02-062024-Q4Cash and cash equivalents$1,12720
2024-11-062024-Q3short-term investments70 (USD millions)18
2024-11-062024-Q3GRAIL contingent consideration liability8218
2024-11-062024-Q3foreign subsidiary cash464 (USD millions)18
2024-11-062024-Q3cash and cash equivalents869 (USD millions)18
2024-11-042024-Q3term debt$1,98817
2024-11-042024-Q3stockholders' equity$2,12517
2024-11-042024-Q3short-term investments$7017
2024-11-042024-Q3Cash and cash equivalents$86917
2024-08-072024-Q2stock repurchase authorization remaining1516
2024-08-072024-Q2short-term investments (as of June 30, 2024)74 (USD millions)16
2024-08-072024-Q2revolving credit facility amount available750 (USD millions)16
2024-08-072024-Q2Fair value of contingent consideration liability (GRAIL CVRs)13116
2024-08-072024-Q2European Commission fine accrued48116
2024-08-072024-Q2Delayed Draw Credit Facility amount borrowed750 (USD millions)16
2024-08-072024-Q2Cash and cash equivalents (as of June 30, 2024)920 (USD millions)16
2024-08-062024-Q2Cash and equivalents$99415
2024-05-032024-Q1Term Notes 203150014
2024-05-032024-Q1Term Notes 202750014
2024-05-032024-Q1Term Notes 202550014
2024-05-032024-Q1short-term investments7 (USD millions)14
2024-05-032024-Q1Share-based compensation expense9614
2024-05-032024-Q1Share repurchase authorization remaining1514
2024-05-032024-Q1Restructuring charges3614
2024-05-032024-Q1Property and equipment impairment3214
2024-05-032024-Q1Gross margin Core Illumina65.7%14
2024-05-032024-Q1GRAIL performance-based award potential value78 (USD millions)14
2024-05-032024-Q1GRAIL cash incentive awards unvested279 (USD millions)14
2024-05-032024-Q1Foreign subsidiary cash614 (USD millions)14
2024-05-032024-Q1European Commission fine accrued47814
2024-05-032024-Q1Effective tax rate(15.3)%14
2024-05-032024-Q1Depreciation and amortization10814
2024-05-032024-Q1Credit Facility75014
2024-05-032024-Q1Covered Revenues Q1 2024 expected27 (USD millions)14
2024-05-032024-Q1Covered Revenue Payments Q2 2024 expected250 (USD thousands)14
2024-05-032024-Q1Contingent consideration liability GRAIL40314
2024-05-032024-Q1Consolidated gross margin62.0%14
2024-05-032024-Q1Cash and cash equivalents1108 (USD millions)14
2024-05-032024-Q1Capital expenditures36 (USD millions)14
2024-05-032024-Q1Accrued GRAIL awards liability4114
2024-05-022024-Q1Purchases of property and equipment$(36)13
2024-05-022024-Q1GRAIL revenue$2713
2024-05-022024-Q1Depreciation and amortization expenses$10813
2024-05-022024-Q1Core Illumina revenue$1,05613
2024-05-022024-Q1Cash flow provided by operating activities$7713
2024-05-022024-Q1Cash and cash equivalents$1,10813
2024-02-16FY2023Women percentage GRAIL55%12
2024-02-16FY2023Women percentage Core Illumina45%12
2024-02-16FY2023Voluntary turnover rate GRAIL8%12
2024-02-16FY2023Voluntary turnover rate Core Illumina7%12
2024-02-16FY2023US minorities percentage Core Illumina54%12
2024-02-16FY2023Operating cash flow 2023478 million12
2024-02-16FY2023Operating cash flow 2022392 million12
2024-02-16FY2023Operating cash flow 2021545 million12
2024-02-16FY2023GRAIL contingent workers38012
2024-02-16FY2023European Commission fine accrual484 million12
2024-02-16FY2023Credit facility amount750 million12
2024-02-16FY2023Core Illumina contingent workers1,37012
2024-02-16FY2023contingent consideration liability GRAIL387 million12
2024-02-16FY2023cash and cash equivalents1,048 million12
2024-02-16FY20232031 term notes principal500 million12
2024-02-16FY20232027 term notes principal500 million12
2024-02-16FY20232025 term notes principal500 million12
2024-02-082023-Q4short-term investments6 (USD millions)11
2024-02-082023-Q4Cash and cash equivalents1,048 (USD millions)11
2024-01-092023-Q4Core Illumina revenue Q4 2023approximately $1,090 million10
2024-01-092023-Q4Core Illumina revenue Fiscal Year 2023approximately $4,431 million10
2024-01-092023-Q4Core Illumina GAAP operating margin Q4 20232.4%10
2024-01-092023-Q4Core Illumina GAAP operating margin Fiscal Year 202312.3%10
2024-01-092023-Q4Consolidated revenue Q4 2023approximately $1,115 million10
2024-01-092023-Q4Consolidated revenue Fiscal Year 2023approximately $4,497 million10
2024-01-092023-Q4Consolidated GAAP operating margin Q4 2023(15.5)%10
2024-01-092023-Q4Consolidated GAAP operating margin Fiscal Year 2023(24.0)%10
2023-11-132023-Q3short-term investments6 (USD millions)9
2023-11-132023-Q3Cash and equivalents933 (USD millions)9
2023-11-092023-Q3NovaSeq X instruments expected FY2023330 to 3408
2023-11-092023-Q3Cash and equivalents$9338
2023-08-102023-Q2Operating loss-152 million7
2023-08-102023-Q2Net loss YTD-231 million7
2023-08-102023-Q2gross margin core Illumina65.5%7
2023-08-102023-Q2gross margin consolidated62.2%7
2023-08-102023-Q2foreign subsidiary cash413 million7
2023-08-102023-Q2European Commission fine accrued471 million7
2023-08-102023-Q2contingent consideration liability GRAIL440 million7
2023-08-102023-Q2Cash and equivalents1.6 billion7
2023-08-092023-Q2short-term investments$66
2023-08-092023-Q2NovaSeq X supply capacitymore than 3906
2023-08-092023-Q2NovaSeq X shipments1096
2023-08-092023-Q2Cash and cash equivalents$1,5536
2023-05-052023-Q1Expected covered revenues Q1 2023approximately 195
2023-05-052023-Q1Expected covered revenue payments Q2 2023approximately 183,0005
2023-05-052023-Q1Effective tax rate Q1 2023103.9%5
2023-05-052023-Q1Effective tax rate Q1 202238.3%5
2023-05-052023-Q1covered revenues Q4 202223 (USD millions)5
2023-05-052023-Q1covered revenue payments Q1 2023217,000 (USD millions)5
2023-04-252023-Q1short-term investments24 (USD in millions)4
2023-04-252023-Q1Operating cash flow10 (USD in millions)4
2023-04-252023-Q1NovaSeq X order book quarter-endover 2004
2023-04-252023-Q1Depreciation and amortization expenses107 (USD in millions)4
2023-04-252023-Q1Cash and cash equivalents1,494 (USD in millions)4
2023-04-252023-Q1Capital expenditures52 (USD in millions)4
2023-04-252023-Q1Annualized run rate cost savings commitmentmore than $100 million4
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Guidance Tracking (latest per metric/period · 17/31)#

All management forecasts (guidance) and their later outcome. Types: fiscal-year targets as well as quarterly/half-year targets; per metric and period the most recent statement applies, older versions can be expanded. The status is checked automatically against the actuals reported later: open (period still running), met, beaten, missed. For ranges (“X to Y”) reaching the range counts. Logged neutrally, no estimate of our own, no assessment.

Actuals: revenue in $m · EPS in $ per share · ratios in %

For periodGuided onMetricGuidedActualVerdictDirectionSource
FY20262026-07-30EPS (non-GAAP)5.3–5.4–pendingraised33
FY20262026-07-30ROW organic revenue growth5%–pendingraised33
FY20262026-04-30Revenue4,600–4,640–pendingraised33
FY20262026-04-30Operating margin23.4%-23.6%–pendingconfirmed33
FY20262026-04-30Revenue growth (YoY)-6–4%–pendingconfirmed31
FY20262026-02-05Total company revenue4,500–4,600–pendinginitiated29
FY20262026-02-05Ex-China organic revenue growth2–4%–pendinginitiated29
FY20252026-01-13 °EPS (GAAP)5.42–5.455.45in lineconfirmed28
FY20252026-01-13 °EPS (non-GAAP)4.76–4.794.84beatconfirmed28
FY20252025-10-30Revenue growth (YoY)0.5–1.5%––raised26
FY20252025-10-30Revenue ex-China0.5–1.5%––confirmed26
FY20252025-07-31Constant currency revenue0.5–2.5%––raised24
FY20252025-05-08Core Illumina revenue1–3%––cut22
FY20252025-05-08Revenue outside of the Greater China region0–2%––confirmed22
FY20252025-05-08Reported revenue from the Greater China region165–185––confirmed22
FY20252025-01-14Revenue~4,3404,343beatconfirmed28
FY20252025-01-14Operating margin22.75–23%18.6missraised26
FY20242024-11-04EPS (non-GAAP)4.05–4.154.16beatraised17
FY20242024-11-04Operating margin21–21.5%-19.1missraised17
FY20242024-11-04Core Illumina revenue~3%––cut17
2024-Q42024-11-04Core Illumina revenue~1,070––initiated17
FY20232023-11-09EPS (non-GAAP)0.6–0.70.86beat–8
FY20232023-11-09Revenue growth (YoY)2–3%––cut8
FY20232023-11-09Core Illumina revenue3–4%––cut8
FY20232023-11-09GAAP diluted loss per share-6.67–-6.57–––8
FY20232023-04-25GRAIL revenue90–110–––8
FY20232023-02-07EPS (GAAP)0.03–0.28-7.34–initiated2
FY20232023-01-11Operating margin~22%-23.7missconfirmed1
FY20232023-01-11Core Illumina revenue growth6–9%––confirmed4
FY20232023-01-11GRAIL revenue growth~80%––confirmed1
FY20232023-01-11GRAIL operating loss~670––confirmed1
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Development#

A condensed summary per reporting period as running text: what changed operationally, which drivers management names, how earnings and cash flow developed. Most recent period first, grouped by year; each text is written from the original report of that period, superscript numbers lead to the source.

FY2026

In fiscal year 2026, Illumina reported revenue of $1.09 billion in Q1 and $1.16 billion in Q2, representing year-over-year growth of 4.8% and 9.5% respectively, driven primarily by increased demand for NovaSeq X high-throughput consumables and instruments 31 33. The company completed the acquisition of SomaLogic on January 30, 2026 for $460 million, expanding its presence in the proteomics market as part of a multiomics strategy 32. GAAP operating margin expanded on a year-to-date basis to 20.2% from 18.0% in the prior-year period, though year-to-date gross margin improvement from 65.6% to 66.2% was partly attributable to a $23 million intangible asset impairment recorded in Q2 2025 34. Management raised full-year revenue guidance twice during the first half, from an initial range of $4.52-$4.62 billion to $4.60-$4.64 billion by the end of Q2, while non-GAAP diluted EPS guidance was raised to $5.30-$5.40 31 33. Greater China revenue declined approximately $20 million year-over-year in Q1 following the company's inclusion on China's Unreliable Entities List, with tariff uncertainty cited as an ongoing risk heading into the second half 32 33.

FY2025

Illumina reported FY2025 revenue of $4,343 million, flat versus 2024 on both a reported and constant currency basis, with ex-China revenue of $4.10 billion up 2% as a $65 million decrease in Greater China revenue resulted from the company's addition to China's Unreliable Entities List and a sequencing instrument export prohibition enacted in early 2025 29 30. GAAP operating income was $807 million and non-GAAP operating income was $1,004 million, with full-year GAAP operating margin of 18.6% and non-GAAP operating margin of 23.1% 29. GAAP diluted EPS of $5.45 and non-GAAP diluted EPS of $4.84 were supported by free cash flow of $931 million and cash growth to $1,418 million by year-end 129. Revenue trends improved progressively over the course of the year, from reported declines in Q1 and Q2 to flat in Q3 and 5% growth in Q4 2025 on a reported basis 29. Material events for the year included an incremental $100 million cost reduction program and the signing and subsequent completion of the acquisition of the SomaLogic business from Standard BioTools for $350 million in cash, closed January 30, 2026 22 30.

FY2024

Illumina's fiscal year 2024 consolidated revenue declined approximately 3% to $4,372 million, as growth in sequencing consumables was more than offset by weaker sequencing instruments demand across all four quarters (21, 129). The defining corporate event was the completion of the GRAIL spin-off on June 24, 2024, which distributed approximately 85.5% of GRAIL shares to stockholders and triggered $1,889 million in goodwill and intangible impairment charges, producing a GAAP net loss of $1,223 million for the full year (21, 16, 129). Excluding these non-cash charges, adjusted operating income reached $922 million and adjusted diluted EPS was $4.16, with the Core Illumina non-GAAP operating margin expanding to 21.3% for FY2024 (129, 20). Full-year gross margin widened to 65.4% from 60.9% in 2023, driven by a favorable mix shift toward sequencing consumables and operational excellence cost reductions (21). In September 2024 the European Commission withdrew its previously imposed €432 million fine, resulting in a $481 million recognized gain, and free cash flow for the year totaled $709 million (18, 21, 129).

FY2023

Illumina's fiscal 2023 revenue declined 2% to $4,504 million, driven primarily by lower sequencing consumables and instruments sales as the NovaSeq X platform launch continued to compress gross margin to 60.9% from 64.8% in the prior year 12. The GAAP operating loss of $(1,069) million improved from $(4,218) million in FY2022, but that improvement reflects a $3.1 billion reduction in goodwill and intangible impairment charges rather than underlying operational gains; Core Illumina non-GAAP operating margin was 19.8% and non-GAAP diluted EPS declined to $0.86 from $2.12 in FY2022 10 11 12. The company shipped 352 NovaSeq X instruments in fiscal 2023 and launched the XLEAP-SBS sequencing chemistry, extending per-genome cost reduction 11 12. The European Commission imposed a €432 million fine in July 2023 for completion of the GRAIL acquisition, and in December 2023 Illumina announced plans to divest GRAIL through a third-party sale or capital markets transaction targeting finalization by end of Q2 2024 12. Full-year free cash flow was $283 million compared to $106 million in FY2022, with $1,048 million in cash and net debt of $441 million at year-end 11 120.

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Sources: official investor relations documents#

All original documents used, with type (e.g. quarterly, half-year, annual report), publication date and a direct link to the filing (EDINET/SEC/IR). Every superscript number in the report points to an entry in this list; so every figure can be traced back to its place in the original.

53 documents · 2016 – 2026 · SEC EDGAR (USA)
#Document typePublishedLink
#18-K-EX99.12023-01-11Open
#2 / #1028-K-EX99.12023-02-07Open
#310-K2023-02-17Open
#4 / #1048-K-EX99.12023-04-25Open
#510-Q2023-05-05Open
#6 / #1068-K-EX99.12023-08-09Open
#710-Q2023-08-10Open
#8 / #1088-K-EX99.12023-11-09Open
#910-Q2023-11-13Open
#108-K-EX99.12024-01-09Open
#11 / #1118-K-EX99.12024-02-08Open
#1210-K2024-02-16Open
#13 / #1138-K-EX99.12024-05-02Open
#1410-Q2024-05-03Open
#15 / #1158-K-EX99.12024-08-06Open
#1610-Q2024-08-07Open
#17 / #1178-K-EX99.12024-11-04Open
#1810-Q2024-11-06Open
#19 / #1198-K-EX99.12025-01-14Open
#20 / #1208-K-EX99.12025-02-06Open
#2110-K2025-02-12Open
#22 / #1228-K-EX99.12025-05-08Open
#2310-Q2025-05-09Open
#24 / #1248-K-EX99.12025-07-31Open
#2510-Q2025-08-01Open
#26 / #1268-K-EX99.12025-10-30Open
#2710-Q2025-10-31Open
#288-K-EX99.12026-01-13Open
#29 / #1298-K-EX99.12026-02-05Open
#3010-K2026-02-12Open
#31 / #1318-K-EX99.12026-04-30Open
#3210-Q2026-05-04Open
#33 / #1338-K-EX99.12026-07-30Open
#3410-Q2026-07-31Open
Older sources (+19)
#Document typePublishedLink
#20110-K2016-03-02Open
#20410-K2016-03-02Open
#20610-K2016-03-02Open
#20210-Q2016-05-09Open
#20310-Q2016-08-02Open
#20510-Q2017-08-03Open
#20810-K2018-02-13Open
#20710-Q2018-07-31Open
#21210-K2019-02-12Open
#20910-Q2019-04-26Open
#21010-Q2019-07-31Open
#21110-Q2019-10-25Open
#21610-K2020-02-11Open
#21310-Q2020-05-01Open
#21410-Q2020-08-07Open
#21510-Q2020-10-30Open
#21710-Q2021-04-28Open
#21810-Q2021-08-06Open
#21910-Q2021-11-05Open

FAQ#

Is there a management forecast (guidance) for FY2026?

Yes. Management has issued targets for FY2026, including EPS (non-GAAP). The guidance tracking chapter shows all targets and checks them against the actuals reported later; neutral, with no estimate of our own.

Where can I find the official investor relations documents of Illumina Inc.?

The sources chapter links all 69 original filings used (SEC filings) with type, publication date and a direct link; every figure in the report carries a source number.

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