Press release
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
About this update from Illumina, Inc.
[{"type":"text","content":"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 changes in the research funding environment as well as the projected benefit from pricing actionsReported revenue from the Greater China region expected to be $165 - $185 million in 2025 (with $72 million in revenue recognized in Q1 2025)$85 million in tariff related costs which after actions is an approximate 125 bps reduction in fiscal year 2025 operating margin and $0.25 of EPSNon-GAAP operating margin of approximately 21.5% - 22.0%, down from approximately 23% previously; and non-GAAP diluted EPS in the range of $4.20 - $4.30, a reduction from our March guidance of approximately $4.50, primarily due to the net impact of tariffsSAN DIEGO, May 8, 2025 /PRNewswire/ -- Illumina, Inc. (Nasdaq: ILMN) (\"Illumina\" or the \"company\") today announced its financial results for the first quarter of fiscal year 2025.\n\n\"I'm proud that the Illumina team delivered strong Q1 revenue and EPS, a good start to the year in an increasingly dynamic business environment,\" said Jacob Thaysen, Chief Executive Officer. \"Our outlook for the year has weakened due to shifting policy and geopolitical developments and we have taken swift incremental actions to protect our earnings. Our strategic focus remains on customer collaboration, driving differentiated innovations, and delivering on our long-term financial targets of growth and profitability.\"\nFirst quarter Core Illumina segment results\nGAAP\nNon-GAAP (a)\nDollars in millions, except per share amounts\nQ1 2025\nQ1 2024\nQ1 2025\nQ1 2024\nRevenue (b)\n$ 1,041\n$ 1,056\n$ 1,041\n$ 1,056\nGross margin (c)\n65.6 %\n65.7 %\n67.4 %\n67.1 %\nResearch and development (R&D) expense\n$ 252\n$ 241\n$ 241\n$ 237\nSelling...