Illumina, Inc.


SKU: ILMN Category:


Illumina delivered mixed results for the previous quarter, with revenues below the analyst consensus. However, it managed to exceed Wall Street’s earnings expectations. In the third quarter, Illumina’s management reported that consolidated revenue remained steady at $1.12 billion, showing no significant year-over-year growth but a 1% increase in constant currency terms. Despite lower revenue, non-GAAP net income surpassed expectations at $52 million or $0.33 per diluted share. This outcome, influenced by GRAIL’s non-GAAP operating loss of $155 million, was driven by efficient expense reduction initiatives and a higher gross margin than forecasted. The GAAP net loss was $754 million, including significant impairments related to the GRAIL segment due to a decline in Illumina’s market capitalization and adjustments in discount rates. While Core Illumina sequencing consumables revenue dropped 4% year-over-year, clinical sequencing consumables experienced a 10% growth, mitigating the decline. Despite challenges in various regions, such as geopolitical challenges in Greater China, Illumina’s management remains optimistic about the NovaSeq X, with 310 orders since launch and 97 instruments shipped in Q3, bringing the total installed base to 273 instruments. The company further introduced the Global Health Access Initiative to facilitate the availability of pathogen sequencing tools for public health in low- and middle-income countries (LMICs).

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⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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