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    Illumina Reports Financial Results for Third Quarter of Fiscal Year 2024

    11/4/24 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 Q3 2024, down 2% from Q3 2023 and on a constant currency basis
    • Core Illumina GAAP operating margin of 68.6% and non-GAAP operating margin of 22.6% for Q3 2024
    • Core Illumina GAAP diluted EPS of $4.03 and non-GAAP diluted EPS of $1.14 for Q3 2024
    • Lowered fiscal year 2024 Core Illumina revenue guidance to decline ~3% from fiscal year 2023; expect Q4 2024 Core Illumina revenue of approximately $1.07 billion
    • Raised fiscal year 2024 Core Illumina non-GAAP operating margin guidance to a range of 21% to 21.5%
    • Raised fiscal year 2024 Core Illumina non-GAAP diluted EPS guidance to a range of $4.05 to $4.15

    SAN DIEGO, Nov. 4, 2024 /PRNewswire/ -- Illumina, Inc. (NASDAQ:ILMN) ("Illumina" or the "company") today announced its financial results for the third quarter of fiscal year 2024. The financial results for YTD 2024 and Q3 2023 and YTD 2023 include the financial results for GRAIL which was spun off on June 24, 2024.

    "During the third quarter, the Illumina team delivered strong operating results, and revenue met our expectations," said Jacob Thaysen, Chief Executive Officer. "We are making good strides towards Illumina's strategic goals, both in launching breakthrough innovation and in helping our customers accelerate their adoption of the NovaSeq™ X."

    "The near-term macroeconomic environment remains constrained, and we are slightly lowering our 2024 revenue guidance," Thaysen continued. "The underlying demand for Illumina's products and applications remains strong and we are demonstrating significant progress in driving margin and earnings expansion."

    Third quarter Core Illumina segment results



    GAAP



    Non-GAAP (a)

    Dollars in millions

    Q3 2024



    Q3 2023



    Q3 2024



    Q3 2023

    Revenue (b)

    $  1,080



    $  1,106



    $  1,080



    $  1,106

    Gross margin (c)

    68.9 %



    64.7 %



    70.5 %



    66.0 %

    Research and development (R&D) expense

    $     253



    $     238



    $     249



    $     235

    Selling, general and administrative (SG&A) expense

    $     239



    $     216



    $     268



    $     246

    Legal contingency and settlement

    $    (488)



    $        (1)



    $       —



    $       —

    Operating profit

    $     741



    $     262



    $     244



    $     249

    Operating margin

    68.6 %



    23.7 %



    22.6 %



    22.5 %

    Tax provision

    $       77



    *



    $       48



    *

    Tax rate

    10.8 %



    *



    21.0 %



    *

    Net income

    $     642



    *



    $     181



    *

    Diluted EPS

    $    4.03



    *



    $    1.14



    *



    * 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 Q3 2023 included intercompany revenue of $8 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, including freight, and improved productivity and a more favorable mix of sequencing consumables.

    Third quarter consolidated results



    GAAP



    Non-GAAP (a)

    Dollars in millions

    Q3 2024



    Q3 2023



    Q3 2024



    Q3 2023

    Revenue

    $  1,080



    $  1,119



    $  1,080



    $  1,119

    Gross margin

    68.9 %



    61.1 %



    70.5 %



    65.4 %

    R&D expense

    $     253



    $     315



    $     249



    $     312

    SG&A expense

    $     239



    $     303



    $     268



    $     328

    Goodwill and intangible impairment

    $       —



    $     821



    $       —



    $       —

    Legal contingency and settlement

    $    (488)



    $        (1)



    $       —



    $       —

    Operating profit (loss)

    $     741



    $    (754)



    $     244



    $       93

    Operating margin

    68.6 %



    (67.3) %



    22.6 %



    8.3 %

    Tax provision (benefit)

    $       15



    $      (28)



    $       48



    $       35

    Tax rate

    2.1 %



    3.6 %



    21.0 %



    39.7 %

    Net income (loss)

    $     705



    $    (754)



    $     181



    $       52

    Diluted earnings (loss) per share

    $    4.42



    $   (4.77)



    $    1.14



    $    0.33



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

    Capital expenditures for free cash flow purposes were $32 million for Q3 2024. Cash flow provided by operations was $316 million, compared to $139 million in the prior year period. Free cash flow (cash flow provided by operations less capital expenditures) was $284 million for the quarter, compared to $94 million in the prior year period. Depreciation and amortization expenses were $70 million for Q3 2024. At the close of the quarter, the company held $939 million in cash, cash equivalents and short-term investments.

    Key announcements since our last earnings release

    • Presented strategy and three-year financial outlook that features accelerating revenue growth and significant margin expansion
    • Introduced the MiSeq i100 Series: Illumina's simplest, fastest benchtop sequencers
    • Announced plans to provide updates on key innovations in whole-genome sequencing, proteomics, and single-cell technology at the American Society of Human Genetics Annual Meeting
    • Announced European Court of Justice ruled in favor of Illumina in jurisdictional appeal regarding GRAIL
    • Obtained FDA approval for TSO Comprehensive with two companion diagnostics to rapidly match patients to targeted therapies
    • Announced Bengaluru global capability center, expanding presence in the region
    • Appointed Todd Christian as Senior Vice President of Services, Arrays, and Genomics Access
    • Announced that Charles Dadswell will step down as General Counsel, initiated search for successor

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

    Financial outlook and guidance

    For fiscal year 2024, the company is lowering its guidance for Core Illumina revenue to decline ~3% (down ~3% in constant currency) compared to fiscal year 2023. For the fourth quarter of 2024, the company expects Core Illumina revenue of ~$1.07 billion. The company is raising its guidance for Core Illumina non-GAAP operating margin to a range of 21% to 21.5%, and for Core Illumina non-GAAP diluted EPS to a range of $4.05 to $4.15 for fiscal year 2024.

    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 p.m. Pacific Time (4:30 p.m. Eastern Time) on Monday, November 4, 2024. Interested parties may access the live teleconference through the Investor Info section of Illumina's website at investor.illumina.com. Alternatively, individuals can access the call by dialing 877.400.0505 or +1.323.701.0225 outside North America, both using conference ID 2966739. To ensure timely connection, please dial in 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) our ability to manufacture robust instrumentation and consumables; (v) the success of products and services competitive with our own; (vi) 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; (vii) the impact of recently launched or pre-announced products and services on existing products and services; (viii) our ability to modify our business strategies to accomplish our desired operational goals; (ix) 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; (x) our ability to further develop and commercialize our instruments, consumables, and products; (xi) to deploy new products, services, and applications, and to expand the markets for our technology platforms; (xii) the risks and costs associated with the divestment of GRAIL; (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)

     



    September 29,

    2024



    December 31,

    2023

    ASSETS

    (unaudited)





    Current assets:







    Cash and cash equivalents

    $            869



    $         1,048

    Short-term investments

    70



    6

    Accounts receivable, net

    699



    734

    Inventory, net

    574



    587

    Prepaid expenses and other current assets

    161



    234

    Total current assets

    2,373



    2,609

    Property and equipment, net

    832



    1,007

    Operating lease right-of-use assets

    453



    544

    Goodwill

    1,113



    2,545

    Intangible assets, net

    305



    2,993

    Deferred tax assets, net

    617



    56

    Other assets

    321



    357

    Total assets

    $         6,014



    $       10,111









    LIABILITIES AND STOCKHOLDERS' EQUITY







    Current liabilities:







    Accounts payable

    $            191



    $            245

    Accrued liabilities

    784



    1,325

    Total current liabilities

    975



    1,570

    Operating lease liabilities

    613



    687

    Term debt

    1,988



    1,489

    Other long-term liabilities

    313



    620

    Stockholders' equity

    2,125



    5,745

    Total liabilities and stockholders' equity

    $         6,014



    $       10,111

     

    Illumina, Inc.

    Condensed Consolidated Statements of Operations

    (In millions, except per share amounts)

    (unaudited)

     



    Three Months Ended



    Nine Months Ended



    September 29,

    2024



    October 1,

    2023



    September 29,

    2024



    October 1,

    2023

    Revenue:















    Product revenue

    $            914



    $            941



    $        2,718



    $        2,864

    Service and other revenue

    166



    178



    550



    518

    Total revenue

    1,080



    1,119



    3,268



    3,382

    Cost of revenue:















    Cost of product revenue (a)

    235



    293



    739



    884

    Cost of service and other revenue (a)

    84



    95



    286



    285

    Amortization of acquired intangible assets

    16



    47



    110



    143

    Total cost of revenue

    335



    435



    1,135



    1,312

    Gross profit

    745



    684



    2,133



    2,070

    Operating expense:















    Research and development (a)

    253



    315



    913



    1,013

    Selling, general and administrative (a)

    239



    303



    813



    1,127

    Goodwill and intangible impairment

    —



    821



    1,889



    821

    Legal contingency and settlement

    (488)



    (1)



    (474)



    14

    Total operating expense

    4



    1,438



    3,141



    2,975

    Income (loss) from operations

    741



    (754)



    (1,008)



    (905)

    Other expense, net

    (21)



    (28)



    (358)



    (45)

    Income (loss) before income taxes

    720



    (782)



    (1,366)



    (950)

    Provision (benefit) for income taxes

    15



    (28)



    44



    36

    Net income (loss)

    $            705



    $          (754)



    $      (1,410)



    $         (986)

    Earnings (loss) per share:















    Basic

    $           4.43



    $         (4.77)



    $        (8.86)



    $        (6.23)

    Diluted

    $           4.42



    $         (4.77)



    $        (8.86)



    $        (6.23)

    Shares used in computing earnings (loss) per share:















    Basic

    159



    158



    159



    158

    Diluted

    160



    158



    159



    158

















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

















    Three Months Ended



    Nine Months Ended



    September 29,

    2024



    October 1,

    2023



    September 29,

    2024



    October 1,

    2023

    Cost of product revenue

    $                7



    $                7



    $            19



    $            22

    Cost of service and other revenue

    1



    2



    5



    5

    Research and development

    33



    36



    115



    117

    Selling, general and administrative

    43



    41



    152



    142

    Stock-based compensation expense before taxes

    $              84



    $              86



    $           291



    $           286

     

    Illumina, Inc.

    Condensed Consolidated Statements of Cash Flows

    (In millions)

    (unaudited)

     



    Three Months Ended



    Nine Months Ended



    September 29,

    2024



    October 1,

    2023



    September 29,

    2024



    October 1,

    2023

    Net cash provided by operating activities

    $            316



    $            139



    $           473



    $           254

    Net cash used in investing activities

    (42)



    (54)



    (130)



    (146)

    Net cash used in financing activities

    (332)



    (707)



    (523)



    (1,183)

    Effect of exchange rate changes on cash and cash equivalents

    7



    (4)



    1



    (9)

    Net decrease in cash and cash equivalents

    (51)



    (626)



    (179)



    (1,084)

    Cash and cash equivalents, beginning of period

    920



    1,553



    1,048



    2,011

    Cash and cash equivalents, end of period

    $            869



    $            927



    $           869



    $           927

















    Calculation of free cash flow:















    Net cash provided by operating activities

    $            316



    $            139



    $           473



    $           254

    Purchases of property and equipment

    (32)



    (45)



    (99)



    (144)

    Free cash flow (a)

    $            284



    $              94



    $           374



    $           110





    (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



    Nine Months Ended



    September 29,

    2024



    October 1,

    2023



    % Change



    September 29,

    2024



    October 1,

    2023



    % Change

    Core Illumina revenue

    $         1,080



    $         1,106



    (2) %



    $         3,228



    $         3,341



    (3) %

    Less: Hedge gains

    3



    5







    10



    9





    Core Illumina revenue, excluding hedge effect

    1,077



    1,101







    3,218



    3,332





    Less: Exchange rate effect

    (1)



    —







    (7)



    —





    Core Illumina constant currency revenue (a)

    $         1,078



    $         1,101



    (2) %



    $         3,225



    $         3,332



    (3) %



    TABLE 2: CONSOLIDATED - CONSTANT CURRENCY REVENUE:

     



    Three Months Ended



    Nine Months Ended



    September 29,

    2024



    October 1,

    2023



    % Change



    September 29,

    2024



    October 1,

    2023



    % Change

    Consolidated revenue

    $         1,080



    $         1,119



    (4) %



    $         3,268



    $       3,382



    (3) %

    Less: Hedge gains

    3



    5







    10



    9





    Consolidated revenue, excluding hedge effect

    1,077



    1,114







    3,258



    3,373





    Less: Exchange rate effect

    (1)



    —







    (7)



    —





    Consolidated constant currency revenue (a)

    $         1,078



    $         1,114



    (3) %



    $         3,265



    $       3,373



    (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



    Nine Months Ended



    September 29,

    2024



    September 29,

    2024

    GAAP earnings per share - diluted

    $                  4.03



    $                  4.88

    Cost of revenue (b)

    0.10



    0.29

    R&D expense (b)

    0.03



    0.04

    SG&A expense (b)

    (0.18)



    (1.11)

    Goodwill and intangible impairment (b)

    —



    0.02

    Legal contingency and settlement (b)

    (3.07)



    (2.98)

    Other expense, net (b)

    0.04



    2.05

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

    0.34



    0.55

    Incremental non-GAAP tax expense (d)

    (0.16)



    (0.56)

    Income tax provision (e)

    0.01



    0.02

    Non-GAAP earnings per share - diluted (a)

    $                  1.14



    $                  3.20



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

     



    Three Months Ended



    Nine Months Ended



    September 29,

    2024



    September 29,

    2024

    GAAP net income

    $                   642



    $                   777

    Cost of revenue (b)

    16



    47

    R&D expense (b)

    4



    6

    SG&A expense (b)

    (29)



    (176)

    Goodwill and intangible impairment (b)

    —



    3

    Legal contingency and settlement (b)

    (488)



    (474)

    Other expense, net (b)

    7



    326

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

    54



    87

    Incremental non-GAAP tax expense (d)

    (26)



    (89)

    Income tax provision (e)

    1



    3

    Non-GAAP net income (a)

    $                   181



    $                   510

     

    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



    Nine Months Ended



    September 29,

    2024



    October 1,

    2023



    September 29,

    2024



    October 1,

    2023

    GAAP earnings (loss) per share - diluted

    $          4.42



    $       (4.77)



    $        (8.86)



    $       (6.23)

    Cost of revenue (b)

    0.09



    0.30



    0.70



    0.93

    R&D expense (b)

    0.03



    0.02



    0.04



    0.11

    SG&A expense (b)

    (0.18)



    (0.15)



    (1.03)



    0.64

    Goodwill and intangible impairment (b)

    —



    5.20



    11.87



    5.19

    Legal contingency and settlement (b)

    (3.06)



    (0.01)



    (2.98)



    0.09

    Other expense, net (b)

    0.04



    0.14



    2.05



    0.23

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

    0.16



    0.24



    0.89



    0.40

    Incremental non-GAAP tax expense (d)

    (0.37)



    (0.65)



    (1.11)



    (0.68)

    Income tax provision (e)

    0.01



    0.01



    0.02



    0.05

    Non-GAAP earnings per share - diluted (a)

    $          1.14



    $         0.33



    $          1.59



    $         0.73



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

     



    Three Months Ended



    Nine Months Ended



    September 29,

    2024



    October 1,

    2023



    September 29,

    2024



    October 1,

    2023

    GAAP net income (loss)

    $           705



    $        (754)



    $      (1,410)



    $        (986)

    Cost of revenue (b)

    16



    48



    112



    147

    R&D expense (b)

    4



    3



    6



    17

    SG&A expense (b)

    (30)



    (24)



    (163)



    102

    Goodwill and intangible impairment (b)

    —



    821



    1,889



    821

    Legal contingency and settlement (b)

    (488)



    (1)



    (474)



    14

    Other expense, net (b)

    7



    22



    326



    36

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

    25



    38



    141



    63

    Incremental non-GAAP tax expense (d)

    (59)



    (102)



    (177)



    (108)

    Income tax provision (e)

    1



    1



    3



    9

    Non-GAAP net income (a)

    $           181



    $           52



    $           253



    $         115



    All amounts in tables are rounded to the nearest millions, except as otherwise noted. As a result, certain amounts may not recalculate using the rounded amounts provided.

     

    (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



    September 29, 2024



    October 1, 2023



    Core/Consolidated



    Core Illumina



    GRAIL



    Elims



    Consolidated

    GAAP gross profit (loss) (b)

    $    745

    68.9 %



    $  715

    64.7 %



    $    (27)



    $   (4)



    $   684

    61.1 %

    Amortization of acquired intangible assets

    16

    1.6 %



    14

    1.2 %



    33



    —



    47

    4.2 %

    Restructuring (g)

    —

    —



    1

    0.1 %



    —



    —



    1

    0.1 %

    Non-GAAP gross profit (a)

    $    761

    70.5 %



    $  730

    66.0 %



    $        6



    $   (4)



    $   732

    65.4 %



























    GAAP R&D expense

    $    253

    23.4 %



    $  238

    21.5 %



    $      79



    $   (2)



    $   315

    28.1 %

    Acquisition-related expenses (d)

    (3)

    (0.2) %



    —

    —



    —



    —



    —

    —

    Restructuring (g)

    (1)

    (0.1) %



    (3)

    (0.3) %



    —



    —



    (3)

    (0.3) %

    Non-GAAP R&D expense

    $    249

    23.1 %



    $  235

    21.2 %



    $      79



    $   (2)



    $   312

    27.8 %



























    GAAP SG&A expense

    $    239

    22.2 %



    $  216

    19.5 %



    $      87



    $   —



    $   303

    27.0 %

    Amortization of acquired intangible assets

    —

    —



    —

    —



    (1)



    —



    (1)

    (0.1) %

    Contingent consideration liabilities (c)

    49

    4.6 %



    110

    9.9 %



    —



    —



    110

    9.8 %

    Acquisition-related expenses (d)

    (15)

    (1.4) %



    (26)

    (2.2) %



    (3)



    —



    (29)

    (2.5) %

    Restructuring (g)

    (5)

    (0.5) %



    (54)

    (4.9) %



    (1)



    —



    (55)

    (4.9) %

    Non-GAAP SG&A expense

    $    268

    24.9 %



    $  246

    22.3 %



    $      82



    $   —



    $   328

    29.3 %



























    GAAP goodwill and intangible impairment

    $       —

    —



    $     —

    —



    $    821



    $   —



    $   821

    73.4 %

    Goodwill impairment (i)

    —

    —



    —

    —



    (712)



    —



    (712)

    (63.6) %

    Intangible (IPR&D) impairment (i)

    —

    —



    —

    —



    (109)



    —



    (109)

    (9.8) %

    Non-GAAP goodwill and intangible impairment

    $       —

    —



    $     —

    —



    $      —



    $   —



    $     —

    —



























    GAAP legal contingency and settlement

    $   (488)

    (45.3) %



    $     (1)

    (0.2) %



    $      —



    $   —



    $     (1)

    (0.1) %

    Legal contingency and settlement (h)

    488

    45.3 %



    1

    0.2 %



    —



    —



    1

    0.1 %

    Non-GAAP legal contingency and settlement

    $       —

    —



    $     —

    —



    $      —



    $   —



    $     —

    —



























    GAAP operating profit (loss)

    $    741

    68.6 %



    $  262

    23.7 %



    $  (1,015)



    $   (1)



    $ (754)

    (67.3) %

    Cost of revenue

    16

    1.5 %



    15

    1.3 %



    33



    —



    48

    4.3 %

    R&D costs

    4

    0.4 %



    3

    0.4 %



    —



    —



    3

    0.3 %

    SG&A costs

    (29)

    (2.6) %



    (30)

    (2.7) %



    6



    —



    (24)

    (2.3) %

    Goodwill and intangible impairment

    —

    —



    —

    —



    821



    —



    821

    73.4 %

    Legal contingency and settlement

    (488)

    (45.3) %



    (1)

    (0.2) %



    —



    —



    (1)

    (0.1) %

    Non-GAAP operating profit (loss) (a)

    $    244

    22.6 %



    $  249

    22.5 %



    $  (155)



    $   (1)



    $     93

    8.3 %



























    GAAP other (expense) income, net

    $     (21)

    (2.0) %



    $   (33)

    (3.0) %



    $        5



    $   —



    $   (28)

    (2.6) %

    Strategic investment related loss, net (e)

    12

    1.2 %



    19

    1.8 %



    —



    —



    19

    1.8 %

    Gain on Helix contingent value right (f)

    (4)

    (0.4) %



    (5)

    (0.5) %



    —



    —



    (5)

    (0.4) %

    Acquisition-related expenses (d)

    (1)

    (0.1) %



    8

    0.7 %



    —



    —



    8

    0.7 %

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

    $     (14)

    (1.3) %



    $   (11)

    (1.0) %



    $        5



    $   —



    $     (6)

    (0.5) %

     

    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:

     



    Nine Months Ended



    September 29, 2024



    Core Illumina



    GRAIL



    Elims



    Consolidated

    GAAP gross profit (loss) (b)

    $ 2,181

    67.6 %



    $      (38)



    $         (10)



    $  2,133

    65.3 %

    Amortization of acquired intangible assets

    46

    1.4 %



    65



    —



    111

    3.4 %

    Restructuring (g)

    1

    —



    —



    —



    1

    —

    Non-GAAP gross profit (a)

    $ 2,228

    69.0 %



    $       27



    $         (10)



    $  2,245

    68.7 %





















    GAAP R&D expense

    $   732

    22.7 %



    $     189



    $           (8)



    $     913

    27.9 %

    Acquisition-related expenses (d)

    (4)

    (0.1) %



    —



    —



    (4)

    (0.1) %

    Restructuring (g)

    (2)

    (0.1) %



    —



    —



    (2)

    —

    Non-GAAP R&D expense

    $   726

    22.5 %



    $     189



    $           (8)



    $     907

    27.8 %





















    GAAP SG&A expense

    $   621

    19.3 %



    $     192



    $           —



    $     813

    24.8 %

    Amortization of acquired intangible assets

    —

    —



    (2)



    —



    (2)

    (0.1) %

    Contingent consideration liabilities (c)

    304

    9.3 %



    —



    —



    304

    9.3 %

    Acquisition-related expenses (d)

    (85)

    (2.6) %



    (11)



    —



    (96)

    (2.9) %

    Restructuring (g)

    (43)

    (1.3) %



    (1)



    —



    (44)

    (1.3) %

    Non-GAAP SG&A expense

    $   797

    24.7 %



    $     178



    $           —



    $     975

    29.8 %





















    GAAP goodwill and intangible impairment

    $       3

    0.1 %



    $   1,886



    $           —



    $  1,889

    57.8 %

    Goodwill impairment (i)

    —

    —



    (1,466)



    —



    (1,466)

    (44.9) %

    Intangible (IPR&D) impairment (i)

    (3)

    (0.1) %



    (420)



    —



    (423)

    (12.9) %

    Non-GAAP goodwill and intangible impairment

    $      —

    —



    $        —



    $           —



    $       —

    —





















    GAAP legal contingency and settlement

    $  (474)

    (14.7) %



    $        —



    $           —



    $   (474)

    (14.4) %

    Legal contingency and settlement (h)

    474

    14.7 %



    —



    —



    474

    14.4 %

    Non-GAAP legal contingency and settlement

    $      —

    —



    $        —



    $           —



    $       —

    —





















    GAAP operating profit (loss)

    $ 1,298

    40.2 %



    $ (2,305)



    $           (1)



    $ (1,008)

    (30.8) %

    Cost of revenue

    47

    1.5 %



    65



    —



    112

    3.4 %

    R&D costs

    6

    0.2 %



    —



    —



    6

    0.2 %

    SG&A costs

    (176)

    (5.5) %



    13



    —



    (163)

    (5.1) %

    Goodwill and intangible impairment

    3

    0.1 %



    1,886



    —



    1,889

    57.8 %

    Legal contingency and settlement

    (474)

    (14.7) %



    —



    —



    (474)

    (14.4) %

    Non-GAAP operating profit (loss) (a)

    $   704

    21.8 %



    $    (341)



    $           (1)



    $     362

    11.1 %





















    GAAP other (expense) income, net

    $  (363)

    (11.2) %



    $         5



    $           —



    $   (358)

    (11.0) %

    Strategic investment related loss, net (e)

    339

    10.5 %



    —



    —



    339

    10.4 %

    Gain on Helix contingent value right (f)

    (15)

    (0.5) %



    —



    —



    (15)

    (0.5) %

    Acquisition-related expenses (d)

    2

    0.1 %



    —



    —



    2

    0.1 %

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

    $    (37)

    (1.1) %



    $         5



    $           —



    $     (32)

    (1.0) %

     

    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:

     



    Nine Months Ended



    October 1, 2023



    Core Illumina



    GRAIL



    Elims



    Consolidated

    GAAP gross profit (loss) (b)

    $ 2,161

    64.7 %



    $      (77)



    $        (14)



    $  2,070

    61.2 %

    Amortization of acquired intangible assets

    43

    1.3 %



    100



    —



    143

    4.3 %

    Restructuring (g)

    4

    0.1 %



    —



    —



    4

    0.1 %

    Non-GAAP gross profit (a)

    $ 2,208

    66.1 %



    $       23



    $        (14)



    $  2,217

    65.6 %





















    GAAP R&D expense

    $   771

    23.1 %



    $     254



    $        (12)



    $  1,013

    30.0 %

    Acquisition-related expenses (d)

    (1)

    —



    —



    —



    (1)

    —

    Restructuring (g)

    (16)

    (0.6) %



    —



    —



    (16)

    (0.5) %

    Non-GAAP R&D expense

    $   754

    22.5 %



    $     254



    $        (12)



    $     996

    29.5 %





















    GAAP SG&A expense

    $   857

    25.7 %



    $     271



    $          (1)



    $  1,127

    33.3 %

    Amortization of acquired intangible assets

    (1)

    —



    (3)



    —



    (4)

    (0.1) %

    Contingent consideration liabilities (c)

    82

    2.5 %



    —



    —



    82

    2.3 %

    Acquisition-related expenses (d)

    (64)

    (1.9) %



    (11)



    —



    (75)

    (2.1) %

    Restructuring (g)

    (72)

    (2.3) %



    (3)



    —



    (75)

    (2.2) %

    Proxy contest

    (29)

    (0.9) %



    —



    —



    (29)

    (0.9) %

    Non-GAAP SG&A expense

    $   773

    23.1 %



    $     254



    $          (1)



    $  1,026

    30.3 %





















    GAAP goodwill and intangible impairment

    $      —

    —



    $     821



    $          —



    $     821

    24.3 %

    Goodwill impairment (i)

    —

    —



    (712)



    —



    (712)

    (21.1) %

    Intangible (IPR&D) impairment (i)

    —

    —



    (109)



    —



    (109)

    (3.2) %

    Non-GAAP goodwill and intangible impairment

    $      —

    —



    $        —



    $          —



    $       —

    —





















    GAAP legal contingency and settlement

    $     14

    0.4 %



    $        —



    $          —



    $      14

    0.4 %

    Legal contingency and settlement (h)

    (14)

    (0.4) %



    —



    —



    (14)

    (0.4) %

    Non-GAAP legal contingency and settlement

    $      —

    —



    $        —



    $          —



    $       —

    —





















    GAAP operating profit (loss)

    $   519

    15.5 %



    $ (1,424)



    $          —



    $   (905)

    (26.8) %

    Cost of revenue

    47

    1.4 %



    100



    —



    147

    4.4 %

    R&D costs

    17

    0.5 %



    —



    —



    17

    0.5 %

    SG&A costs

    84

    2.6 %



    18



    —



    102

    3.0 %

    Goodwill and intangible impairment

    —

    —



    821



    —



    821

    24.3 %

    Legal contingency and settlement

    14

    0.4 %



    —



    —



    14

    0.4 %

    Non-GAAP operating profit (loss) (a)

    $   681

    20.4 %



    $    (485)



    $          —



    $     196

    5.8 %





















    GAAP other (expense) income, net

    $    (53)

    (1.6) %



    $         8



    $          —



    $     (45)

    (1.3) %

    Strategic investment related loss, net (e)

    36

    1.1 %



    —



    —



    36

    1.0 %

    Gain on Helix contingent value right (f)

    (8)

    (0.2) %



    —



    —



    (8)

    (0.2) %

    Acquisition-related expenses (d)

    8

    0.2 %



    —



    —



    8

    0.2 %

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

    $    (17)

    (0.5) %



    $         8



    $          —



    $       (9)

    (0.3) %

     

    All amounts in tables are rounded to the nearest millions, except as otherwise noted. As a result, certain amounts may not recalculate using the rounded amounts provided. 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 (expense) income, 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, as well as the acquisition of Fluent Biosciences which was completed in Q3 2024. Amounts in other (expense) income, net for Q3 2023 and YTD 2023 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 the hedge for the EC fine.

    (e)  

    Amounts consist primarily of mark-to-market adjustments and impairments from strategic investments. Amount for YTD 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 for Q3 2024 consist primarily of employee severance costs. Amounts for YTD 2024 also consist of lease and other asset impairments. Amounts for Q3 2023 consist primarily of lease and other asset impairments and amounts for YTD 2023 consist primarily of employee severance costs and lease and other asset impairments.

    (h)  

    Amounts for Q3 2024 and YTD 2024 primarily consist of the reversal of the accrued EC fine, including accrued interest. Amount for YTD 2023 primarily consists of an adjustment recorded to our accrual for the EC fine.

    (i)    

    Amount for YTD 2024 consists of goodwill and IPR&D intangible asset impairments related to GRAIL in Q2 2024. Amount for YTD 2024 also consists of an IPR&D intangible asset impairment related to Core Illumina in Q1 2024. Amounts for Q3 2023 and YTD 2023 consist of goodwill and IPR&D intangible asset impairments related to GRAIL.

     

    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



    Nine Months Ended



    September 29,

    2024



    September 29,

    2024

    GAAP tax provision

    $         77

    10.8 %



    $       158

    16.9 %

    Incremental non-GAAP tax expense (b)

    26





    89



    Income tax provision (c)

    (1)





    (3)



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

    (54)





    (87)



    Non-GAAP tax provision (a)

    $         48

    21.0 %



    $       157

    23.6 %



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

     



    Three Months Ended



    Nine Months Ended



    September 29,

    2024



    September 29,

    2024

    GAAP tax provision

    $         15

    2.1 %



    $         44

    (3.2) %

    Incremental non-GAAP tax expense (b)

    59





    177



    Income tax provision (c)

    (1)





    (3)



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

    (25)





    (141)



    Non-GAAP tax provision (a)

    $         48

    21.0 %



    $         77

    23.4 %





    Three Months Ended



    Nine Months Ended



    October 1,

    2023



    October 1,

    2023

    GAAP tax (benefit) provision

    $       (28)

    3.6 %



    $         36

    (3.8) %

    Incremental non-GAAP tax expense (b)

    102





    108



    Income tax provision (c)

    (1)





    (9)



    GILTI and US foreign tax credits (d)

    (38)





    (63)



    Non-GAAP tax provision (a)

    $         35

    39.7 %



    $         72

    38.3 %





    (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-third-quarter-of-fiscal-year-2024-302295734.html

    SOURCE Illumina, Inc.

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    8/28/2024Hold → Buy
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    $ILMN
    Large Ownership Changes

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    • 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
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    • SEC Form SC 13G filed by Illumina Inc.

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

      12/5/24 7:27:01 PM ET
      $ILMN
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    • 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
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    Insider Trading

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    Leadership Updates

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    • 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
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    • 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
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    • 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
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    • 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
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    • SEC Form DEFR14A filed by Illumina Inc.

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

      4/16/25 4:18:52 PM ET
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    • SEC Form DEFA14A filed by Illumina Inc.

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

      4/9/25 4:51:02 PM ET
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    • 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
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    • 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
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    • 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
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    • 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
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    • 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
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    • 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
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    $ILMN
    Analyst Ratings

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    • 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
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    • 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
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    • 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
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    $ILMN
    Insider Purchases

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    • 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
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    Financials

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    • 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
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    • 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
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    • 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
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