Illumina Inc

Latest Results (10.11.2025):

Illumina Inc reported its financial results for the third quarter of fiscal year 2025, delivering a revenue of $1.08 billion—flat compared to Q3 2024—while demonstrating strong operational performance in key segments such as clinical, which propelled earnings beyond the high-end of guidance. The results featured a GAAP operating margin of 21.0% and a non-GAAP operating margin of 24.5%, with GAAP diluted EPS of $0.98 and non-GAAP diluted EPS of $1.34. The company also generated $284 million in cash from operations and $253 million in free cash flow, executed a share repurchase program, and updated its full-year guidance reflecting a modest constant currency revenue decline with improved margins and EPS targets.

Revenue Stability and Market Performance

For Q3 2025, Illumina Inc’s revenue remained flat at $1.08 billion compared to Q3 2024. However, the acceleration in the clinical segment helped the company exceed the high-end of its revenue and earnings guidance, and it returned to growth ex-China.

Profitability and Margin Improvement

The company reported a GAAP operating margin of 21.0% and an improved non-GAAP operating margin of 24.5%. These figures, alongside the reported earnings per share of $0.98 (GAAP) and $1.34 (non-GAAP), underscore the effectiveness of Illumina Inc's cost management and operational leverage during Q3 2025.

Strong Cash Flow and Share Repurchase

Illumina Inc generated $284 million in cash from operations and achieved free cash flow of $253 million for Q3 2025 despite capital expenditures of $31 million. The company also repurchased 1.2 million shares for $120 million at an average price of $97.10 per share, reflecting its confidence in future growth and effective capital allocation.

Updated Fiscal Year Guidance

For fiscal year 2025, Illumina Inc now anticipates a total company constant currency revenue decline in the range of (1.5%) to (0.5%), an improvement over previous expectations. The guidance includes revenue growth outside of China between 0.5% and 1.5% on a constant currency basis, enhanced non-GAAP operating margin expectations of 22.75% to 23%, and increased non-GAAP diluted EPS projections of $4.65 to $4.75.

Strategic Initiatives and Innovation

The quarter was also notable for several strategic and product innovations, including the launch of a 5-base solution for simultaneous genomic and epigenomic insights, the introduction of Constellation mapped read technology, and the debut of BioInsight to accelerate data-driven discovery. These initiatives further reinforce Illumina Inc's focus on broadening its market reach and deepening its technological capabilities.