• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Illumina Reports Financial Results for Fourth Quarter and Fiscal Year 2024

    2/6/25 4:05:00 PM ET
    $ILMN
    Medical Specialities
    Health Care
    Get the next $ILMN alert in real time by email
    • Core Illumina revenue of $1.1 billion for Q4 2024, up 1% from Q4 2023 on both a reported and constant currency basis; revenue of $4.3 billion for fiscal year 2024, down 2% from fiscal year 2023 on both a reported and constant currency basis
    • Core Illumina GAAP operating margin of 15.8% and non-GAAP operating margin of 19.7% for Q4 2024; GAAP operating margin of 34.0% and non-GAAP operating margin of 21.3% for fiscal year 2024
    • Core Illumina GAAP diluted earnings per share (EPS) of $0.73 and non-GAAP diluted EPS of $0.95 for Q4 2024; GAAP diluted EPS of $5.61 and non-GAAP diluted EPS of $4.16 for fiscal year 2024
    • Core Illumina cash provided by operations of $1.2 billion and free cash flow of $1.1 billion for fiscal year 2024
    • Fiscal year 2025 guidance does not attempt to reflect any impact from the recent China Ministry of Commerce announcement and assumes a continuation of the current macroeconomic and political environments
    • For fiscal year 2025, continue to expect Core Illumina constant currency revenue growth in the low single digits (reported revenue in the range of approximately $4.28 billion to $4.4 billion) and non-GAAP operating margin of approximately 23%; expect non-GAAP diluted EPS in the range of $4.50 to $4.65

    SAN DIEGO, Feb. 6, 2025 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN) ("Illumina" or the "company") today announced its financial results for the fourth quarter and fiscal year 2024. The financial results for fiscal year 2024 and Q4 2023 and fiscal year 2023 include the financial results for GRAIL which was spun off on June 24, 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," said Jacob Thaysen, Chief Executive Officer. "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."

    Fourth quarter Core Illumina segment results



    GAAP



    Non-GAAP (a)

    Dollars in millions, except per share amounts

    Q4 2024



    Q4 2023



    Q4 2024



    Q4 2023

    Revenue (b)

    $  1,104



    $  1,097



    $  1,104



    $  1,097

    Gross margin (c)

    65.9 %



    63.3 %



    67.4 %



    64.7 %

    Research and development (R&D) expense

    $     256



    $     260



    $     255



    $     248

    Selling, general and administrative (SG&A) expense

    $     279



    $     391



    $     271



    $     259

    Goodwill and intangible impairment

    $       —



    $         6



    $       —



    $       —

    Legal contingency and settlement

    $       18



    $         6



    $       —



    $       —

    Operating profit

    $     175



    $       33



    $     218



    $     203

    Operating margin

    15.8 %



    3.0 %



    19.7 %



    18.5 %

    Tax provision

    $       70



    *



    $       47



    *

    Tax rate

    37.9 %



    *



    23.7 %



    *

    Net income

    $     117



    *



    $     152



    *

    Diluted EPS

    $    0.73



    *



    $    0.95



    *

    * Prior year information not provided.



    (a)

    See tables in "Results of Operations - Non-GAAP" section below for GAAP and non-GAAP reconciliations.

    (b)

    Core Illumina revenue for Q4 2023 included intercompany revenue of $5 million which, prior to the spin-off of GRAIL in Q2 2024, was eliminated in consolidation.

    (c)

    The increase in gross margin was driven by execution of our operational excellence priorities that delivered cost savings, as well as a more favorable revenue mix toward sequencing consumables.

    Fourth quarter consolidated results



    GAAP



    Non-GAAP (a)

    Dollars in millions, except per share amounts

    Q4 2024



    Q4 2023



    Q4 2024



    Q4 2023

    Revenue

    $  1,104



    $  1,122



    $  1,104



    $  1,122

    Gross margin

    65.9 %



    60.1 %



    67.4 %



    64.4 %

    R&D expense

    $     256



    $     341



    $     255



    $     329

    SG&A expense

    $     279



    $     485



    $     271



    $     342

    Goodwill and intangible impairment

    $       —



    $         6



    $       —



    $       —

    Legal contingency and settlement

    $       18



    $         6



    $       —



    $       —

    Operating profit (loss)

    $     175



    $   (164)



    $     218



    $       51

    Operating margin

    15.8 %



    (14.6) %



    19.7 %



    4.6 %

    Tax provision

    $         1



    $         8



    $       62



    $       26

    Tax rate (b)

    0.6 %



    (4.9) %



    31.1 %



    55.4 %

    Net income (loss)

    $     187



    $   (176)



    $     138



    $       22

    Diluted earnings (loss) per share

    $    1.17



    $   (1.11)



    $    0.86



    $    0.14

    (a)

    See tables in "Results of Operations - Non-GAAP" section below for GAAP and non-GAAP reconciliations.

    (b)

    In accordance with U.S. GAAP, the tax rate is determined on a full-year forecast basis. This resulted in GRAIL-related activity impacting the consolidated tax rate in Q3 2024 and Q4 2024 even though GRAIL was divested in Q2 2024.

    Capital expenditures for free cash flow purposes were $42 million for Q4 2024. Cash flow provided by operations was $364 million, compared to $224 million in the prior year period. Free cash flow (cash flow provided by operations less capital expenditures) was $322 million for the quarter, compared to $173 million in the prior year period. Depreciation and amortization expenses were $71 million for Q4 2024. At the close of the quarter, the company held $1.22 billion in cash, cash equivalents and short-term investments.

    Fiscal year 2024 Core Illumina segment results



    GAAP



    Non-GAAP (a)

    Dollars in millions, except per share amounts

    2024



    2023



    2024



    2023

    Revenue (b)

    $  4,332



    $  4,438



    4,332



    $  4,438

    Gross margin

    67.1 %



    64.4 %



    68.6 %



    65.8 %

    R&D expense

    $    988



    $  1,030



    $    982



    $  1,001

    SG&A expense

    $    900



    $  1,248



    $  1,069



    $  1,032

    Goodwill and intangible impairment

    $        3



    $        6



    $       —



    $       —

    Legal contingency and settlement

    $   (456)



    $      20



    $       —



    $       —

    Operating profit

    $  1,473



    $    552



    $    922



    $    885

    Operating margin

    34.0 %



    12.4 %



    21.3 %



    19.9 %

    Tax provision

    $    229



    $    224



    $    204



    $    228

    Tax rate

    20.4 %



    45.4 %



    23.6 %



    26.5 %

    Net income

    $    894



    $    269



    $    663



    $    634

    Diluted EPS

    $   5.61



    $   1.70



    $   4.16



    $   4.00

    (a)

    See tables in "Results of Operations - Non-GAAP" section below for GAAP and non-GAAP reconciliations.

    (b)

    Core Illumina revenue for 2024 and 2023 included intercompany revenue of $15 million and $26 million, respectively, which, prior to the spin-off of GRAIL in Q2 2024, was eliminated in consolidation.

    Capital expenditures for free cash flow purposes were $137 million for fiscal year 2024. Cash flow provided by operations was $1.21 billion. Free cash flow was $1.07 billion for the year.

    Fiscal year 2024 consolidated results



    GAAP



    Non-GAAP (a)

    Dollars in millions, except per share amounts

    2024



    2023



    2024



    2023

    Revenue

    $  4,372



    $  4,504



    $  4,372



    $  4,504

    Gross margin

    65.4 %



    60.9 %



    68.4 %



    65.3 %

    R&D expense

    $  1,169



    $  1,354



    $  1,163



    $  1,325

    SG&A expense

    $  1,092



    $  1,612



    $  1,247



    $  1,367

    Goodwill and intangible impairment (b)

    $  1,889



    $    827



    $       —



    $       —

    Legal contingency and settlement

    $   (456)



    $      20



    $       —



    $       —

    Operating (loss) profit

    $   (833)



    $  (1,069)



    $    580



    $    247

    Operating margin

    (19.1) %



    (23.7) %



    13.3 %



    5.5 %

    Tax provision

    $       44



    $      44



    $    139



    $      98

    Tax rate (c)

    (3.8) %



    (3.9) %



    26.3 %



    41.8 %

    Net (loss) income

    $ (1,223)



    $  (1,161)



    $    390



    $    137

    Diluted (loss) earnings per share

    $   (7.69)



    $  (7.34)



    $   2.45



    $   0.86

    (a)

    See tables in "Results of Operations - Non-GAAP" section below for GAAP and non-GAAP reconciliations.

    (b)

    The company recognized $1,466 million in goodwill and $420 million in IPR&D impairment related to GRAIL in 2024, and in 2023, recognized $712 million in goodwill and $109 million in IPR&D impairment related to GRAIL.

    (c)

    In accordance with U.S. GAAP, the tax rate is determined on a full-year forecast basis. This resulted in GRAIL-related activity impacting the consolidated tax rate in Q3 2024 and Q4 2024 even though GRAIL was divested in Q2 2024.

    Capital expenditures for free cash flow purposes were $142 million for fiscal year 2024. Cash flow provided by operations was $837 million, compared to $478 million in the prior year. Free cash flow was $695 million, compared to $283 million in the prior year. Depreciation and amortization expenses were $354 million for fiscal year 2024.

    Key announcements since our last earnings release

    • Announced collaboration with NVIDIA to enhance the analysis and interpretation of multiomic data
    • Launched pilot proteomics program with UK Biobank and biopharma collaborators to analyze 50,000 samples
    • Announced collaboration with Regeneron and investment in Truveta Genome Project to extend DNA sequence-linked healthcare database to advance scientific innovation and healthcare delivery
    • Advanced NovaSeq X Series, delivering single-flow-cell system, software upgrade, and new kits to enable multiomic applications
    • Announced expansion of TruSight Oncology, the latest solution to enable comprehensive genomic profiling of tumors
    • Presented real-world data with Providence and Microsoft Research finding that cancer patients with early genomic testing received better precision treatment

    A full list of recent announcements can be found in the company's News Center.

    Financial outlook and guidance

    Fiscal year 2025 guidance does not attempt to reflect any impact from the recent China Ministry of Commerce announcement and assumes a continuation of the current macroeconomic and political environments. For fiscal year 2025, the company continues to expect Core Illumina constant currency revenue growth in the low single digits (reported revenue in the range of approximately $4.28 billion to $4.4 billion) and non-GAAP operating margin of approximately 23%. The company expects non-GAAP diluted EPS in the range of $4.50 to $4.65.

    The company provides forward-looking guidance on a non-GAAP basis. The company is unable to provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP reported financial measures because it is unable to predict with reasonable certainty the impact of items such as acquisition-related expenses, gains and losses from strategic investments, fair value adjustments to contingent consideration, potential future asset impairments, restructuring activities, and the ultimate outcome of pending litigation without unreasonable effort. These items are uncertain, inherently difficult to predict, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, the company is unable to address the significance of the unavailable information, which could be material to future results.

    Conference call information

    The conference call will begin at 1:30 pm Pacific Time (4:30 pm Eastern Time) on Thursday, February 6, 2025. Interested parties may access the live webcast via the Investor Info section of Illumina's website or directly through the following link - https://illumina-earnings-call-q4-2024.open-exchange.net/. To ensure timely connection, please join at least ten minutes before the scheduled start of the call. A replay of the conference call will be posted on Illumina's website after the event and will be available for at least 30 days following.

    Statement regarding use of non-GAAP financial measures

    The company reports non-GAAP results for diluted earnings per share, net income, gross margin, operating expenses, including research and development expense, selling general and administrative expense, legal contingencies and settlement, and goodwill and intangible impairment, operating income, operating margin, gross profit, other income (expense), tax provision, constant currency revenue growth, and free cash flow (on a consolidated and, as applicable, segment basis) in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The company's financial measures under GAAP include substantial charges such as amortization of acquired intangible assets among others that are listed in the reconciliations of GAAP and non-GAAP financial measures included in this press release, as well as the effects of currency translation. Management has excluded the effects of these items in non-GAAP measures to assist investors in analyzing and assessing past and future operating performance. Non-GAAP net income, diluted earnings per share and operating margin are key components of the financial metrics utilized by the company's board of directors to measure, in part, management's performance and determine significant elements of management's compensation.

    The company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between GAAP and non-GAAP results are presented in the tables of this release.

    Use of forward-looking statements

    This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements are: (i) changes in the rate of growth in the markets we serve; (ii) the volume, timing and mix of customer orders among our products and services; (iii) our ability to adjust our operating expenses to align with our revenue expectations; (iv) uncertainty regarding the impact of our recent inclusion by the China Ministry of Commerce announcement that Illumina is included on its "unreliable entities list" as well as tariffs recently imposed or threatened by the U.S. government and its trading partners, and other possible tariffs or trade protection measures; (v) our ability to manufacture robust instrumentation and consumables; (vi) the success of products and services competitive with our own; (vii) challenges inherent in developing, manufacturing, and launching new products and services, including expanding or modifying manufacturing operations and reliance on third-party suppliers for critical components; (viii) the impact of recently launched or pre-announced products and services on existing products and services; (ix) our ability to modify our business strategies to accomplish our desired operational goals; (x) our ability to realize the anticipated benefits from prior or future actions to streamline and improve our R&D processes, reduce our operating expenses and maximize our revenue growth; (xi) our ability to further develop and commercialize our instruments, consumables, and products; (xii) to deploy new products, services, and applications, and to expand the markets for our technology platforms; (xiii) the risk of additional litigation arising against us in connection with the GRAIL acquisition; (xiv) our ability to obtain approval by third-party payors to reimburse patients for our products; (xv) our ability to obtain regulatory clearance for our products from government agencies; (xvi) our ability to successfully partner with other companies and organizations to develop new products, expand markets, and grow our business; (xvii) uncertainty, or adverse economic and business conditions, including as a result of slowing or uncertain economic growth or armed conflict; (xviii) the application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments and (xix) legislative, regulatory and economic developments, together with other factors detailed in our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We undertake no obligation, and do not intend, to update these forward-looking statements, to review or confirm analysts' expectations, or to provide interim reports or updates on the progress of the current quarter.

    About Illumina

    Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit www.illumina.com and connect with us on X, Facebook, LinkedIn, Instagram, TikTok, and YouTube.

     

    Illumina, Inc.

    Condensed Consolidated Balance Sheets

    (In millions)





    December 29,

    2024



    December 31,

    2023

    ASSETS

    (unaudited)





    Current assets:







    Cash and cash equivalents

    $         1,127



    $         1,048

    Short-term investments

    93



    6

    Accounts receivable, net

    735



    734

    Inventory, net

    547



    587

    Prepaid expenses and other current assets

    244



    234

    Total current assets

    2,746



    2,609

    Property and equipment, net

    815



    1,007

    Operating lease right-of-use assets

    419



    544

    Goodwill

    1,113



    2,545

    Intangible assets, net

    295



    2,993

    Deferred tax assets, net

    567



    56

    Other assets

    348



    357

    Total assets

    $         6,303



    $       10,111









    LIABILITIES AND STOCKHOLDERS' EQUITY







    Current liabilities:







    Accounts payable

    $            221



    $            245

    Accrued liabilities

    827



    1,325

    Term debt, current portion

    499



    —

    Total current liabilities

    1,547



    1,570

    Operating lease liabilities

    554



    687

    Term debt

    1,490



    1,489

    Other long-term liabilities

    339



    620

    Stockholders' equity

    2,373



    5,745

    Total liabilities and stockholders' equity

    $         6,303



    $       10,111

     

    Illumina, Inc.

    Condensed Consolidated Statements of Operations

    (In millions, except per share amounts)

    (unaudited)





    Three Months Ended



    Year Ended



    December 29,

    2024



    December 31,

    2023



    December 29,

    2024



    December 31,

    2023

    Revenue:















    Product revenue

    $            939



    $            923



    $        3,656



    $        3,787

    Service and other revenue

    165



    199



    716



    717

    Total revenue

    1,104



    1,122



    4,372



    4,504

    Cost of revenue:















    Cost of product revenue (a)

    278



    293



    1,017



    1,177

    Cost of service and other revenue (a)

    82



    108



    367



    392

    Amortization of acquired intangible assets

    16



    47



    127



    191

    Total cost of revenue

    376



    448



    1,511



    1,760

    Gross profit

    728



    674



    2,861



    2,744

    Operating expense:















    Research and development (a)

    256



    341



    1,169



    1,354

    Selling, general and administrative (a)

    279



    485



    1,092



    1,612

    Goodwill and intangible impairment

    —



    6



    1,889



    827

    Legal contingency and settlement

    18



    6



    (456)



    20

    Total operating expense

    553



    838



    3,694



    3,813

    Income (loss) from operations

    175



    (164)



    (833)



    (1,069)

    Other income (expense), net

    13



    (4)



    (346)



    (48)

    Income (loss) before income taxes

    188



    (168)



    (1,179)



    (1,117)

    Provision for income taxes

    1



    8



    44



    44

    Net income (loss)

    $            187



    $          (176)



    $      (1,223)



    $      (1,161)

    Earnings (loss) per share:















    Basic

    $           1.17



    $         (1.11)



    $        (7.69)



    $        (7.34)

    Diluted

    $           1.17



    $         (1.11)



    $        (7.69)



    $        (7.34)

    Shares used in computing earnings (loss) per share:















    Basic

    159



    159



    159



    158

    Diluted

    160



    159



    159



    158

     

    (a) Includes stock-based compensation expense for stock-based awards:





    Three Months Ended



    Year Ended



    December 29,

    2024



    December 31,

    2023



    December 29,

    2024



    December 31,

    2023

    Cost of product revenue

    $                6



    $                7



    $            25



    $            29

    Cost of service and other revenue

    1



    2



    6



    7

    Research and development

    31



    39



    146



    155

    Selling, general and administrative

    42



    48



    194



    189

    Stock-based compensation expense before taxes

    $              80



    $              96



    $           371



    $           380

     

    Illumina, Inc.

    Condensed Statements of Cash Flows

    (In millions)

    (unaudited)

     

    TABLE 1: CONSOLIDATED STATEMENTS OF CASH FLOWS AND FREE CASH FLOWS:





    Three Months Ended



    Year Ended



    December 29,

    2024



    December 31,

    2023



    December 29,

    2024



    December 31,

    2023

    Net cash provided by operating activities

    $            364



    $            224



    $           837



    $           478

    Net cash used in investing activities

    (48)



    (84)



    (178)



    (231)

    Net cash used in financing activities

    (47)



    (27)



    (570)



    (1,210)

    Effect of exchange rate changes on cash and cash equivalents

    (11)



    8



    (10)



    —

    Net increase (decrease) in cash and cash equivalents

    258



    121



    79



    (963)

    Cash and cash equivalents, beginning of period

    869



    927



    1,048



    2,011

    Cash and cash equivalents, end of period

    $         1,127



    $         1,048



    $        1,127



    $        1,048

















    Calculation of free cash flow:















    Net cash provided by operating activities

    $            364



    $            224



    $           837



    $           478

    Purchases of property and equipment

    (42)



    (51)



    (142)



    (195)

    Free cash flow (a)

    $            322



    $            173



    $           695



    $           283

     

    TABLE 2: CORE ILLUMINA FREE CASH FLOWS:











    Three Months Ended



    Year Ended



    December 29,

    2024



    December 29,

    2024

    Net cash provided by operating activities

    $                          364



    $                        1,207

    Purchases of property and equipment

    (42)



    (137)

    Free cash flow (a)

    $                          322



    $                        1,070

    (a)

    Free cash flow, which is a non-GAAP financial measure, is calculated as net cash provided by operating activities reduced by purchases of property and equipment. Free cash flow is useful to management as it is one of the metrics used to evaluate our performance and to compare us with other companies in our industry. However, our calculation of free cash flow may not be comparable to similar measures used by other companies.

     

    Illumina, Inc.

    Results of Operations - Constant Currency Revenue

    (Dollars in millions)

    (unaudited)

     

    TABLE 1: CORE ILLUMINA - CONSTANT CURRENCY REVENUE:





    Three Months Ended



    Year Ended



    December 29,

    2024



    December 31,

    2023



    % Change



    December 29,

    2024



    December 31,

    2023



    % Change

    Revenue

    $         1,104



    $         1,097



    1 %



    $         4,332



    $         4,438



    (2) %

    Less: Hedge gains

    5



    10







    15



    18





    Revenue, excluding hedge effect

    1,099



    1,087







    4,317



    4,420





    Less: Exchange rate effect

    —



    —







    (8)



    —





    Constant currency revenue (a)

    $         1,099



    $         1,087



    1 %



    $         4,325



    $         4,420



    (2) %

     

    TABLE 2: CONSOLIDATED - CONSTANT CURRENCY REVENUE:





    Three Months Ended



    Year Ended



    December 29,

    2024



    December 31,

    2023



    % Change



    December 29,

    2024



    December 31,

    2023



    % Change

    Revenue

    $         1,104



    $         1,122



    (2) %



    $         4,372



    $         4,504



    (3) %

    Less: Hedge gains

    5



    10







    15



    18





    Revenue, excluding hedge effect

    1,099



    1,112







    4,357



    4,486





    Less: Exchange rate effect

    —



    —







    (8)



    —





    Constant currency revenue (a)

    $         1,099



    $         1,112



    (1) %



    $         4,365



    $         4,486



    (3) %

    (a)

    Constant currency revenue growth, which is a non-GAAP financial measure, is calculated using comparative prior period foreign exchange rates to translate current period revenue, net of the effects of hedges.

     

    Illumina, Inc.

    Results of Operations - Non-GAAP

    (In millions, except per share amounts)

    (unaudited)

     

    TABLE 1: CORE ILLUMINA - RECONCILIATION OF GAAP AND NON-GAAP DILUTED EARNINGS PER SHARE:





    Three Months Ended



    Year Ended



    December 29,

    2024



    December 29,

    2024



    December 31,

    2023

    GAAP earnings per share - diluted

    $                  0.73



    $                5.61



    $               1.70

    Cost of revenue (b)

    0.10



    0.40



    0.39

    R&D expense (b)

    0.01



    0.04



    0.18

    SG&A expense (b)

    0.04



    (1.06)



    1.36

    Goodwill and intangible impairment (b)

    —



    0.02



    0.04

    Legal contingency and settlement (b)

    0.11



    (2.87)



    0.13

    Other (income) expense, net (b)

    (0.19)



    1.86



    0.23

    GILTI, US foreign tax credits, and global minimum top-up tax

    (c)

    (0.03)



    0.52



    0.28

    Incremental non-GAAP tax expense (d)

    0.10



    (0.46)



    (0.54)

    Income tax provision (e)

    0.08



    0.10



    0.23

    Non-GAAP earnings per share - diluted (a)

    $                  0.95



    $                4.16



    $               4.00

     

    TABLE 2: CORE ILLUMINA - RECONCILIATION OF GAAP AND NON-GAAP NET INCOME:





    Three Months Ended



    Year Ended



    December 29,

    2024



    December 29,

    2024



    December 31,

    2023

    GAAP net income

    $                   117



    $                 894



    $                269

    Cost of revenue (b)

    17



    64



    62

    R&D expense (b)

    1



    6



    29

    SG&A expense (b)

    7



    (168)



    216

    Goodwill and intangible impairment (b)

    —



    3



    6

    Legal contingency and settlement (b)

    18



    (456)



    20

    Other (income) expense, net (b)

    (31)



    295



    36

    GILTI, US foreign tax credits, and global minimum top-up tax (c)

    (5)



    82



    45

    Incremental non-GAAP tax expense (d)

    15



    (73)



    (86)

    Income tax provision (e)

    13



    16



    37

    Non-GAAP net income (a)

    $                   152



    $                 663



    $                634

     

    Illumina, Inc.

    Results of Operations - Non-GAAP (continued)

    (In millions, except per share amounts)

    (unaudited)



    TABLE 3: CONSOLIDATED - RECONCILIATION OF GAAP AND NON-GAAP DILUTED EARNINGS (LOSS) PER SHARE:





    Three Months Ended



    Year Ended



    December 29,

    2024



    December 31,

    2023



    December 29,

    2024



    December 31,

    2023

    GAAP earnings (loss) per share - diluted

    $          1.17



    $       (1.11)



    $        (7.69)



    $       (7.34)

    Cost of revenue (b)

    0.10



    0.30



    0.81



    1.24

    R&D expense (b)

    0.01



    0.08



    0.04



    0.18

    SG&A expense (b)

    0.04



    0.90



    (0.97)



    1.54

    Goodwill and intangible impairment (b)

    —



    0.04



    11.88



    5.23

    Legal contingency and settlement (b)

    0.11



    0.03



    (2.87)



    0.13

    Other (income) expense, net (b)

    (0.19)



    0.01



    1.85



    0.23

    GILTI, US foreign tax credits, and global minimum top-up tax (c)

    (0.32)



    (0.01)



    0.57



    0.38

    Incremental non-GAAP tax expense (d)

    (0.14)



    (0.28)



    (1.26)



    (0.96)

    Income tax provision (e)

    0.08



    0.18



    0.09



    0.23

    Non-GAAP earnings per share - diluted (a)

    $          0.86



    $         0.14



    $          2.45



    $         0.86

     

    TABLE 4: CONSOLIDATED - RECONCILIATION OF GAAP AND NON-GAAP NET INCOME (LOSS):





    Three Months Ended



    Year Ended



    December 29,

    2024



    December 31,

    2023



    December 29,

    2024



    December 31,

    2023

    GAAP net income (loss)

    $           187



    $        (176)



    $      (1,223)



    $      (1,161)

    Cost of revenue (b)

    17



    48



    129



    196

    R&D expense (b)

    1



    12



    6



    29

    SG&A expense (b)

    7



    143



    (155)



    244

    Goodwill and intangible impairment (b)

    —



    6



    1,889



    827

    Legal contingency and settlement (b)

    18



    6



    (456)



    20

    Other (income) expense, net (b)

    (31)



    1



    295



    36

    GILTI, US foreign tax credits, and global minimum top-up tax (c)

    (51)



    (2)



    90



    61

    Incremental non-GAAP tax expense (d)

    (23)



    (44)



    (201)



    (152)

    Income tax provision (e)

    13



    28



    16



    37

    Non-GAAP net income (a)

    $           138



    $            22



    $           390



    $          137

    Amounts in tables are rounded to the nearest millions. As a result, certain amounts may not recalculate.



    (a)

    Non-GAAP net income and diluted earnings per share exclude the effects of the pro forma adjustments detailed above. Non-GAAP net income and diluted earnings per share are key components of the financial metrics utilized by the company's board of directors to measure, in part, management's performance and determine significant elements of management's compensation. Management has excluded the effects of these items in these measures to assist investors in analyzing and assessing our past and future operating performance.

    (b)

    Refer to Reconciliations between GAAP and Non-GAAP Results of Operations for details of amounts.

    (c)

    Amounts represent the impact of GRAIL pre-acquisition net operating losses on GILTI, the utilization of US foreign tax credits, and the Pillar Two global minimum top-up tax, which became effective in Q1 2024.

    (d)

    Incremental non-GAAP tax expense reflects the tax impact of the non-GAAP adjustments listed.

    (e)

    Amounts represent the difference between book and tax accounting related to stock-based compensation cost.

     

    Illumina, Inc.

    Results of Operations - Non-GAAP (continued)

    (Dollars in millions)

    (unaudited)



    TABLE 5: RECONCILIATION OF GAAP AND NON-GAAP RESULTS OF OPERATIONS AS A PERCENT OF REVENUE:





    Three Months Ended



    December 29, 2024



    December 31, 2023



    Core/Consolidated



    Core Illumina



    GRAIL



    Elims



    Consolidated

    GAAP gross profit (loss) (b)

    $    728

    65.9 %



    $  695

    63.3 %



    $    (19)



    $   (2)



    $   674

    60.1 %

    Amortization of acquired intangible assets

    17

    1.5 %



    14

    1.3 %



    33



    —



    47

    4.2 %

    Restructuring (g)

    —

    —



    1

    0.1 %



    —



    —



    1

    0.1 %

    Non-GAAP gross profit (a)

    $    745

    67.4 %



    $  710

    64.7 %



    $      14



    $   (2)



    $   722

    64.4 %



























    GAAP R&D expense

    $    256

    23.2 %



    $  260

    23.7 %



    $      84



    $   (3)



    $   341

    30.4 %

    Acquisition-related expenses (d)

    (1)

    (0.1) %



    (1)

    (0.1) %



    —



    —



    (1)

    (0.1) %

    Restructuring (g)

    —

    —



    (11)

    (1.0) %



    —



    —



    (11)

    (1.0) %

    Non-GAAP R&D expense

    $    255

    23.1 %



    $  248

    22.6 %



    $      84



    $   (3)



    $   329

    29.3 %



























    GAAP SG&A expense

    $    279

    25.2 %



    $  391

    35.6 %



    $      94



    $   —



    $   485

    43.2 %

    Amortization of acquired intangible assets

    —

    —



    —

    —



    (1)



    —



    (1)

    (0.1) %

    Contingent consideration liabilities (c)

    11

    1.0 %



    (58)

    (5.2) %



    —



    —



    (58)

    (5.1) %

    Acquisition-related expenses (d)

    (4)

    (0.3) %



    (26)

    (2.4) %



    (9)



    —



    (35)

    (3.1) %

    Restructuring (g)

    (15)

    (1.3) %



    (48)

    (4.4) %



    (1)



    —



    (49)

    (4.4) %

    Non-GAAP SG&A expense

    $    271

    24.6 %



    $  259

    23.6 %



    $      83



    $   —



    $   342

    30.5 %



























    GAAP goodwill and intangible impairment

    $       —

    —



    $      6

    0.5 %



    $      —



    $   —



    $       6

    0.5 %

    Intangible (IPR&D) impairment (i)

    —

    —



    (6)

    (0.5) %



    —



    —



    (6)

    (0.5) %

    Non-GAAP goodwill and intangible impairment

    $       —

    —



    $     —

    —



    $      —



    $   —



    $     —

    —



























    GAAP legal contingency and settlement

    $      18

    1.7 %



    $      6

    0.5 %



    $      —



    $   —



    $       6

    0.5 %

    Legal contingency and settlement (h)

    (18)

    (1.7) %



    (6)

    (0.5) %



    —



    —



    (6)

    (0.5) %

    Non-GAAP legal contingency and settlement

    $       —

    —



    $     —

    —



    $      —



    $   —



    $     —

    —



























    GAAP operating profit (loss)

    $    175

    15.8 %



    $    33

    3.0 %



    $  (197)



    $   —



    $ (164)

    (14.6) %

    Cost of revenue

    17

    1.5 %



    15

    1.4 %



    33



    —



    48

    4.3 %

    R&D costs

    1

    0.1 %



    12

    1.1 %



    —



    —



    12

    1.1 %

    SG&A costs

    7

    0.6 %



    131

    12.0 %



    12



    —



    143

    12.8 %

    Goodwill and intangible impairment

    —

    —



    6

    0.5 %



    —



    —



    6

    0.5 %

    Legal contingency and settlement

    18

    1.7 %



    6

    0.5 %



    —



    —



    6

    0.5 %

    Non-GAAP operating profit (loss) (a)

    $    218

    19.7 %



    $  203

    18.5 %



    $  (152)



    $   —



    $     51

    4.6 %



























    GAAP other income (expense), net

    $      13

    1.2 %



    $     (6)

    (0.5) %



    $        2



    $   —



    $     (4)

    (0.4) %

    Strategic investment related gain, net (e)

    (31)

    (2.9) %



    —

    —



    —



    —



    —

    —

    Gain on Helix contingent value right (f)

    —

    —



    (2)

    (0.2) %



    —



    —



    (2)

    (0.2) %

    Acquisition-related expenses (d)

    —

    —



    3

    0.3 %



    —



    —



    3

    0.3 %

    Non-GAAP other (expense) income, net (a)

    $     (18)

    (1.7) %



    $     (5)

    (0.4) %



    $        2



    $   —



    $     (3)

    (0.3) %

     

    Illumina, Inc.

    Results of Operations - Non-GAAP (continued)

    (Dollars in millions)

    (unaudited)



    TABLE 5: RECONCILIATION OF GAAP AND NON-GAAP RESULTS OF OPERATIONS AS A PERCENT OF REVENUE:





    Year Ended



    December 29, 2024



    Core Illumina



    GRAIL



    Elims



    Consolidated

    GAAP gross profit (loss) (b)

    $ 2,909

    67.1 %



    $      (38)



    $         (10)



    $  2,861

    65.4 %

    Amortization of acquired intangible assets

    63

    1.5 %



    65



    —



    128

    3.0 %

    Restructuring (g)

    1

    —



    —



    —



    1

    —

    Non-GAAP gross profit (a)

    $ 2,973

    68.6 %



    $       27



    $         (10)



    $  2,990

    68.4 %





















    GAAP R&D expense

    $   988

    22.8 %



    $     189



    $           (8)



    $  1,169

    26.7 %

    Acquisition-related expenses (d)

    (4)

    (0.1) %



    —



    —



    (4)

    (0.1) %

    Restructuring (g)

    (2)

    —



    —



    —



    (2)

    —

    Non-GAAP R&D expense

    $   982

    22.7 %



    $     189



    $           (8)



    $  1,163

    26.6 %





















    GAAP SG&A expense

    $   900

    20.7 %



    $     192



    $           —



    $  1,092

    25.0 %

    Amortization of acquired intangible assets

    (1)

    —



    (2)



    —



    (3)

    (0.1) %

    Contingent consideration liabilities (c)

    315

    7.2 %



    —



    —



    315

    7.2 %

    Acquisition-related expenses (d)

    (87)

    (2.0) %



    (11)



    —



    (98)

    (2.3) %

    Restructuring (g)

    (58)

    (1.3) %



    (1)



    —



    (59)

    (1.3) %

    Non-GAAP SG&A expense

    $ 1,069

    24.6 %



    $     178



    $           —



    $  1,247

    28.5 %





















    GAAP goodwill and intangible impairment

    $       3

    0.1 %



    $   1,886



    $           —



    $  1,889

    43.2 %

    Goodwill impairment (i)

    —

    —



    (1,466)



    —



    (1,466)

    (33.5) %

    Intangible (IPR&D) impairment (i)

    (3)

    (0.1) %



    (420)



    —



    (423)

    (9.7) %

    Non-GAAP goodwill and intangible impairment

    $      —

    —



    $        —



    $           —



    $       —

    —





















    GAAP legal contingency and settlement

    $  (456)

    (10.5) %



    $        —



    $           —



    $   (456)

    (10.4) %

    Legal contingency and settlement (h)

    456

    10.5 %



    —



    —



    456

    10.4 %

    Non-GAAP legal contingency and settlement

    $      —

    —



    $        —



    $           —



    $       —

    —





















    GAAP operating profit (loss)

    $ 1,473

    34.0 %



    $ (2,305)



    $           (1)



    $   (833)

    (19.1) %

    Cost of revenue

    64

    1.5 %



    65



    —



    129

    3.0 %

    R&D costs

    6

    0.1 %



    —



    —



    6

    0.1 %

    SG&A costs

    (168)

    (3.9) %



    13



    —



    (155)

    (3.5) %

    Goodwill and intangible impairment

    3

    0.1 %



    1,886



    —



    1,889

    43.2 %

    Legal contingency and settlement

    (456)

    (10.5) %



    —



    —



    (456)

    (10.4) %

    Non-GAAP operating profit (loss) (a)

    $   922

    21.3 %



    $    (341)



    $           (1)



    $     580

    13.3 %





















    GAAP other (expense) income, net

    $  (350)

    (8.1) %



    $         5



    $           (1)



    $   (346)

    (7.9) %

    Strategic investment related loss, net (e)

    308

    7.1 %



    —



    —



    308

    7.1 %

    Gain on Helix contingent value right (f)

    (15)

    (0.3) %



    —



    —



    (15)

    (0.3) %

    Acquisition-related expenses (d)

    2

    —



    —



    —



    2

    —

    Non-GAAP other (expense) income, net (a)

    $    (55)

    (1.3) %



    $         5



    $           (1)



    $     (51)

    (1.1) %

     

    Illumina, Inc.

    Results of Operations - Non-GAAP (continued)

    (Dollars in millions)

    (unaudited)



    TABLE 5: RECONCILIATION OF GAAP AND NON-GAAP RESULTS OF OPERATIONS AS A PERCENT OF REVENUE:





    Year Ended



    December 31, 2023



    Core Illumina



    GRAIL



    Elims



    Consolidated

    GAAP gross profit (loss) (b)

    $ 2,856

    64.4 %



    $      (96)



    $        (16)



    $  2,744

    60.9 %

    Amortization of acquired intangible assets

    57

    1.3 %



    134



    —



    191

    4.3 %

    Restructuring (g)

    5

    0.1 %



    —



    —



    5

    0.1 %

    Non-GAAP gross profit (a)

    $ 2,918

    65.8 %



    $       38



    $        (16)



    $  2,940

    65.3 %





















    GAAP R&D expense

    $ 1,030

    23.2 %



    $     338



    $        (14)



    $  1,354

    30.1 %

    Acquisition-related expenses (d)

    (2)

    —



    —



    —



    (2)

    —

    Restructuring (g)

    (27)

    (0.6) %



    —



    —



    (27)

    (0.7) %

    Non-GAAP R&D expense

    $ 1,001

    22.6 %



    $     338



    $        (14)



    $  1,325

    29.4 %





















    GAAP SG&A expense

    $ 1,248

    28.1 %



    $     366



    $          (2)



    $  1,612

    35.8 %

    Amortization of acquired intangible assets

    (1)

    —



    (4)



    —



    (5)

    (0.1) %

    Contingent consideration liabilities (c)

    24

    0.5 %



    —



    —



    24

    0.5 %

    Acquisition-related expenses (d)

    (88)

    (1.9) %



    (21)



    —



    (109)

    (2.4) %

    Restructuring (g)

    (119)

    (2.7) %



    (4)



    —



    (123)

    (2.7) %

    Proxy contest

    (32)

    (0.7) %



    —



    —



    (32)

    (0.7) %

    Non-GAAP SG&A expense

    $ 1,032

    23.3 %



    $     337



    $          (2)



    $  1,367

    30.4 %





















    GAAP goodwill and intangible impairment

    $       6

    0.1 %



    $     821



    $          —



    $     827

    18.3 %

    Goodwill impairment (i)

    —

    —



    (712)



    —



    (712)

    (15.7) %

    Intangible (IPR&D) impairment (i)

    (6)

    (0.1) %



    (109)



    —



    (115)

    (2.6) %

    Non-GAAP goodwill and intangible impairment

    $      —

    —



    $        —



    $          —



    $       —

    —





















    GAAP legal contingency and settlement

    $     20

    0.4 %



    $        —



    $          —



    $      20

    0.4 %

    Legal contingency and settlement (h)

    (20)

    (0.4) %



    —



    —



    (20)

    (0.4) %

    Non-GAAP legal contingency and settlement

    $      —

    —



    $        —



    $          —



    $       —

    —





















    GAAP operating profit (loss)

    $   552

    12.4 %



    $ (1,621)



    $          —



    $ (1,069)

    (23.7) %

    Cost of revenue

    62

    1.5 %



    134



    —



    196

    4.4 %

    R&D costs

    29

    0.6 %



    —



    —



    29

    0.7 %

    SG&A costs

    216

    4.9 %



    28



    —



    244

    5.4 %

    Goodwill and intangible impairment

    6

    0.1 %



    821



    —



    827

    18.3 %

    Legal contingency and settlement

    20

    0.4 %



    —



    —



    20

    0.4 %

    Non-GAAP operating profit (loss) (a)

    $   885

    19.9 %



    $    (638)



    $          —



    $     247

    5.5 %





















    GAAP other (expense) income, net

    $    (58)

    (1.3) %



    $       10



    $          —



    $     (48)

    (1.1) %

    Strategic investment related loss, net (e)

    35

    0.8 %



    —



    —



    35

    0.8 %

    Gain on Helix contingent value right (f)

    (10)

    (0.2) %



    —



    —



    (10)

    (0.2) %

    Acquisition-related expenses (d)

    11

    0.2 %



    —



    —



    11

    0.2 %

    Non-GAAP other (expense) income, net (a)

    $    (22)

    (0.5) %



    $       10



    $          —



    $     (12)

    (0.3) %

    Amounts in tables are rounded to the nearest millions. As a result, certain amounts may not recalculate.

    Percentages of revenue are calculated based on the revenue of the respective segment.



    (a)

    Non-GAAP gross profit, included within non-GAAP operating profit (loss), is a key measure of the effectiveness and efficiency of manufacturing processes, product mix and the average selling prices of our products and services. Non-GAAP operating profit (loss) and non-GAAP other income (expense), net exclude the effects of the pro forma adjustments as detailed above. Non-GAAP operating margin is a key component of the financial metrics utilized by the company's board of directors to measure, in part, management's performance and determine significant elements of management's compensation. Management has excluded the effects of these items in these measures to assist investors in analyzing and assessing past and future operating performance.

    (b)

    Reconciling amounts are recorded in cost of revenue.

    (c)

    Amounts consist primarily of fair value adjustments for our contingent consideration liability related to GRAIL.

    (d)

    Amounts consist primarily of legal and other expenses related to the acquisition and divestiture of GRAIL. Amounts in other income (expense), net relate to unrealized gains/losses for foreign currency balance sheet remeasurement of the EC fine liability, which was reversed in Q3 2024, and mark-to-market gains/losses on hedge for the EC fine. 

    (e)

    Amounts consist primarily of mark-to-market adjustments and impairments from strategic investments. Amount for FY 2024 primarily relates to impairment recorded on our retained investment in GRAIL post spin-off.

    (f)

    Amounts consist of fair value adjustments related to our Helix contingent value right, which was settled in Q3 2024.

    (g)

    Amounts consist primarily of lease and other asset impairments and employees severance costs.

    (h)

    Amount for FY 2024 primarily consists of the reversal of the accrued EC fine, including accrued interest. Amount for FY 2023 primarily consists of an adjustment recorded to our accrual for the EC fine.

    (i)

    Amounts for FY 2024 and FY 2023 consist of goodwill and IPR&D intangible asset impairments related to GRAIL and IPR&D intangible asset impairments related to Core Illumina.

     

    Illumina, Inc.

    Results of Operations - Non-GAAP (continued)

    (Dollars in millions)

    (unaudited)

     

    TABLE 6: CORE ILLUMINA - RECONCILIATION OF GAAP AND NON-GAAP TAX PROVISION:





    Three Months Ended



    Year Ended



    December 29,

    2024



    December 29,

    2024

    GAAP tax provision

    $         70

    37.9 %



    $       229

    20.4 %

    Incremental non-GAAP tax expense (b)

    (15)





    73



    Income tax provision (c)

    (13)





    (16)



    GILTI, US foreign tax credits, and global minimum top-up tax (d)

    5





    (82)



    Non-GAAP tax provision (a)

    $         47

    23.7 %



    $       204

    23.6 %

     



    Year Ended



    December 31,

    2023

    GAAP tax provision

    $       224

    45.4 %

    Incremental non-GAAP tax expense (b)

    86



    Income tax provision (c)

    (37)



    GILTI and US foreign tax credits (d)

    (45)



    Non-GAAP tax provision (a)

    $       228

    26.5 %

     

    TABLE 7: CONSOLIDATED - RECONCILIATION OF GAAP AND NON-GAAP TAX PROVISION:





    Three Months Ended



    Year Ended



    December 29,

    2024



    December 29,

    2024

    GAAP tax provision

    $           1

    0.6 %



    $         44

    (3.8) %

    Incremental non-GAAP tax expense (b)

    23





    201



    Income tax provision (c)

    (13)





    (16)



    GILTI, US foreign tax credits, and global minimum top-up tax (d)

    51





    (90)



    Non-GAAP tax provision (a)

    $         62

    31.1 %



    $       139

    26.3 %

     



    Three Months Ended



    Year Ended



    December 31,

    2023



    December 31,

    2023

    GAAP tax provision

    $           8

    (4.9) %



    $         44

    (3.9) %

    Incremental non-GAAP tax expense (b)

    44





    152



    Income tax provision (c)

    (28)





    (37)



    GILTI and US foreign tax credits (d)

    2





    (61)



    Non-GAAP tax provision (a)

    $         26

    55.4 %



    $         98

    41.8 %

    (a)

    Non-GAAP tax provision excludes the effects of the pro forma adjustments detailed above, which have been excluded to assist investors in analyzing and assessing past and future operating performance.

    (b)

    Incremental non-GAAP tax expense reflects tax impact of the non-GAAP adjustments listed in Table 2 and 4.

    (c)

    Amounts represent the difference between book and tax accounting related to stock-based compensation cost.

    (d)

    Amounts represent the impact of GRAIL pre-acquisition net operating losses on GILTI, the utilization of US foreign tax credits, and the Pillar Two global minimum top-up tax, which became effective in Q1 2024.

     

    Investors:

    Salli Schwartz

    +1.858.291.6421

    [email protected]

    Media:

    Bonny Fowler

    +1.740.641.5579

    [email protected]

     

    Cision View original content:https://www.prnewswire.com/news-releases/illumina-reports-financial-results-for-fourth-quarter-and-fiscal-year-2024-302370616.html

    SOURCE Illumina, Inc.

    Get the next $ILMN alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $ILMN

    DatePrice TargetRatingAnalyst
    3/4/2025$130.00 → $90.00Neutral
    Citigroup
    2/28/2025$100.00Buy → Hold
    HSBC Securities
    2/10/2025$130.00 → $100.00Equal Weight → Underweight
    Barclays
    2/7/2025$177.00 → $140.00Buy → Hold
    TD Cowen
    12/11/2024$190.00 → $165.00Buy → Neutral
    Citigroup
    11/12/2024$156.00Equal-Weight
    Morgan Stanley
    10/17/2024$180.00Hold → Buy
    HSBC Securities
    8/28/2024Hold → Buy
    Argus
    More analyst ratings

    $ILMN
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • SVP, Strategy/Corp Development Wedel Christensen Jakob covered exercise/tax liability with 384 shares and returned $42,388 worth of shares to the company (549 units at $77.21), decreasing direct ownership by 7% to 11,808 units (SEC Form 4)

      4 - ILLUMINA, INC. (0001110803) (Issuer)

      5/7/25 4:09:16 PM ET
      $ILMN
      Medical Specialities
      Health Care
    • SVP, Chief Information Officer Rollins Carissa covered exercise/tax liability with 113 shares, decreasing direct ownership by 0.61% to 18,447 units (SEC Form 4)

      4 - ILLUMINA, INC. (0001110803) (Issuer)

      4/8/25 4:06:14 PM ET
      $ILMN
      Medical Specialities
      Health Care
    • Director Meister Keith A. was granted 625 shares (SEC Form 4)

      4 - ILLUMINA, INC. (0001110803) (Issuer)

      4/1/25 4:53:53 PM ET
      $ILMN
      Medical Specialities
      Health Care

    $ILMN
    SEC Filings

    See more
    • Illumina Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - ILLUMINA, INC. (0001110803) (Filer)

      5/8/25 4:24:10 PM ET
      $ILMN
      Medical Specialities
      Health Care
    • SEC Form DEFR14A filed by Illumina Inc.

      DEFR14A - ILLUMINA, INC. (0001110803) (Filer)

      4/16/25 4:18:52 PM ET
      $ILMN
      Medical Specialities
      Health Care
    • SEC Form DEFA14A filed by Illumina Inc.

      DEFA14A - ILLUMINA, INC. (0001110803) (Filer)

      4/9/25 4:51:02 PM ET
      $ILMN
      Medical Specialities
      Health Care

    $ILMN
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by Illumina Inc.

      SC 13G/A - ILLUMINA, INC. (0001110803) (Subject)

      12/6/24 10:11:24 AM ET
      $ILMN
      Medical Specialities
      Health Care
    • SEC Form SC 13G filed by Illumina Inc.

      SC 13G - ILLUMINA, INC. (0001110803) (Subject)

      12/5/24 7:27:01 PM ET
      $ILMN
      Medical Specialities
      Health Care
    • Amendment: SEC Form SC 13G/A filed by Illumina Inc.

      SC 13G/A - ILLUMINA, INC. (0001110803) (Subject)

      11/12/24 3:59:44 PM ET
      $ILMN
      Medical Specialities
      Health Care

    $ILMN
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Citigroup reiterated coverage on Illumina with a new price target

      Citigroup reiterated coverage of Illumina with a rating of Neutral and set a new price target of $90.00 from $130.00 previously

      3/4/25 8:10:42 AM ET
      $ILMN
      Medical Specialities
      Health Care
    • Illumina downgraded by HSBC Securities with a new price target

      HSBC Securities downgraded Illumina from Buy to Hold and set a new price target of $100.00

      2/28/25 9:03:13 AM ET
      $ILMN
      Medical Specialities
      Health Care
    • Illumina downgraded by Barclays with a new price target

      Barclays downgraded Illumina from Equal Weight to Underweight and set a new price target of $100.00 from $130.00 previously

      2/10/25 6:59:21 AM ET
      $ILMN
      Medical Specialities
      Health Care

    $ILMN
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Illumina Reports Financial Results for First Quarter of Fiscal Year 2025

      Core Illumina revenue of $1.04 billion for Q1 2025, down 1% from Q1 2024 (flat on a constant currency basis)GAAP operating margin of 15.8% and non-GAAP operating margin of 20.4% for Q1 2025GAAP diluted EPS of $0.82 and non-GAAP diluted EPS of $0.97 for Q1 2025Cash provided by operations of $240 million and free cash flow of $208 million for Q1 2025For fiscal year 2025, we expect:Core Illumina revenue to decline between (1%) and (3%) on a constant currency basis year over year, down from low single digit growth previouslyRevenue outside of the Greater China region expected to grow between 0% and 2% in 2025 on a constant currency basis year over year and includes our estimate reflecting change

      5/8/25 4:13:00 PM ET
      $ILMN
      Medical Specialities
      Health Care
    • Illumina and Ovation.io launching first-of-kind GLP-1 dataset to accelerate new therapy development

      First real-world dataset with integrated clinical and multiomic insights from 25,000 patients treated with GLP-1 therapies Dataset will advance development of GLP-1 therapies in new indications and accelerate discovery of novel drug targets in patients who are unresponsive to therapies SAN DIEGO, May 1, 2025 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN), and Ovation.io, Inc., an organization dedicated to building best-in-class multiomics datasets, today announced the development of the largest commercially available clinical multiomic dataset from 25,000 patients treated with glucagon-like peptide-1 (GLP-1) receptor agonist therapies. The dataset will be made available to the pharma community

      5/1/25 9:15:00 AM ET
      $ILMN
      Medical Specialities
      Health Care
    • Illumina and Tempus partner to drive the future of precision medicine through genomic AI innovation

      Collaboration accelerates insights on clinical benefits of molecular profiling across all major categories of disease SAN DIEGO and CHICAGO, April 15, 2025 /PRNewswire/ -- Illumina Inc. (NASDAQ:ILMN) and Tempus AI, Inc. (NASDAQ:TEM), a technology company leading the adoption of AI to advance precision medicine and patient care, today announced a collaboration to accelerate clinical adoption of next-generation sequencing tests through novel evidence generation. The collaboration will combine leading Illumina AI technologies with Tempus's comprehensive multimodal data platform to train genomic algorithms and ultimately accelerate clinical adoption of molecular testing for patients.

      4/15/25 9:15:00 AM ET
      $ILMN
      $TEM
      Medical Specialities
      Health Care
      Computer Software: Programming Data Processing
      Technology

    $ILMN
    Financials

    Live finance-specific insights

    See more
    • Illumina Reports Financial Results for First Quarter of Fiscal Year 2025

      Core Illumina revenue of $1.04 billion for Q1 2025, down 1% from Q1 2024 (flat on a constant currency basis)GAAP operating margin of 15.8% and non-GAAP operating margin of 20.4% for Q1 2025GAAP diluted EPS of $0.82 and non-GAAP diluted EPS of $0.97 for Q1 2025Cash provided by operations of $240 million and free cash flow of $208 million for Q1 2025For fiscal year 2025, we expect:Core Illumina revenue to decline between (1%) and (3%) on a constant currency basis year over year, down from low single digit growth previouslyRevenue outside of the Greater China region expected to grow between 0% and 2% in 2025 on a constant currency basis year over year and includes our estimate reflecting change

      5/8/25 4:13:00 PM ET
      $ILMN
      Medical Specialities
      Health Care
    • Illumina to Announce First Quarter 2025 Financial Results on Thursday, May 8, 2025

      SAN DIEGO, April 10, 2025 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN) announced today that it will issue results for the first quarter 2025 following the close of market on Thursday, May 8, 2025.  On the same day, at 1:30 pm Pacific Time (4:30 pm Eastern Time) Jacob Thaysen, PhD, Chief Executive Officer, and Ankur Dhingra, Chief Financial Officer, will host a conference call with analysts, investors, and other interested parties to discuss financial and operating results.  Conference Call Details The conference call will begin at 1:30 pm Pacific Time (4:30 pm Eastern Time) on Thursday, May 8, 2025. Interested parties may access the live webcast via the Investor Info section of Illumina's w

      4/10/25 4:05:00 PM ET
      $ILMN
      Medical Specialities
      Health Care
    • Illumina Reports Financial Results for Fourth Quarter and Fiscal Year 2024

      Core Illumina revenue of $1.1 billion for Q4 2024, up 1% from Q4 2023 on both a reported and constant currency basis; revenue of $4.3 billion for fiscal year 2024, down 2% from fiscal year 2023 on both a reported and constant currency basisCore Illumina GAAP operating margin of 15.8% and non-GAAP operating margin of 19.7% for Q4 2024; GAAP operating margin of 34.0% and non-GAAP operating margin of 21.3% for fiscal year 2024Core Illumina GAAP diluted earnings per share (EPS) of $0.73 and non-GAAP diluted EPS of $0.95 for Q4 2024; GAAP diluted EPS of $5.61 and non-GAAP diluted EPS of $4.16 for fiscal year 2024Core Illumina cash provided by operations of $1.2 billion and free cash flow of $1.1

      2/6/25 4:05:00 PM ET
      $ILMN
      Medical Specialities
      Health Care

    $ILMN
    Leadership Updates

    Live Leadership Updates

    See more
    • Illumina Board of Directors elects Dr. Scott Gottlieb Chair, Keith Meister to join Board of Directors

      Stephen MacMillan to retire from the Board SAN DIEGO, March 25, 2025 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN), a global leader in DNA sequencing and array-based technologies, today announced changes to its Board of Directors. Scott Gottlieb, MD, has been elected non-executive Chair of Illumina's Board. Dr. Gottlieb has served on the Board of Directors since 2020. Additionally, Keith Meister, founder, Managing Partner, and Chief Investment Officer of Corvex Management, will join the Board of Directors on March 28, 2025. Stephen MacMillan, Chairman, President, and CEO of Hologic, who joined the Illumina Board in June 2023, has decided to retire from the board in preparation for the company

      3/25/25 9:00:00 AM ET
      $ILMN
      Medical Specialities
      Health Care
    • KKR, CrowdStrike Holdings and GoDaddy Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600

      NEW YORK, June 7, 2024 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, June 24, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from the S

      6/7/24 6:09:00 PM ET
      $ADTN
      $ALTR
      $ATNI
      $BMRN
      Telecommunications Equipment
      Utilities
      Computer Software: Prepackaged Software
      Technology
    • Illumina appoints Everett Cunningham Chief Commercial Officer

      Cunningham previously served as CCO for Exact Sciences and brings more than 20 years of commercial leadership across healthcare tech, life sciences, and pharma  SAN DIEGO, June 3, 2024 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN), a global leader in DNA sequencing and array-based technologies, today announced the appointment of Everett Cunningham as Chief Commercial Officer (CCO), effective June 10.    Cunningham will be responsible for building, guiding, and managing the company's global commercial organization. He brings extensive commercial experience across the healthcare

      6/3/24 7:11:00 AM ET
      $ILMN
      Medical Specialities
      Health Care

    $ILMN
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Thaysen Jacob bought $991,672 worth of shares (7,330 units at $135.29), increasing direct ownership by 97% to 14,861 units (SEC Form 4)

      4 - ILLUMINA, INC. (0001110803) (Issuer)

      2/26/24 8:57:29 AM ET
      $ILMN
      Medical Specialities
      Health Care