Press release
Illumina Reports Financial Results for First Quarter of Fiscal Year 2024
Core Illumina revenue of $1.06 billion for Q1 2024, down 2% from Q1 2023 (down 2% on a constant currency basis)Core Illumina GAAP operating margin of 11.0%
About this update from Illumina, Inc.
[{"type":"text","content":"Core Illumina revenue of $1.06 billion for Q1 2024, down 2% from Q1 2023 (down 2% on a constant currency basis)Core Illumina GAAP operating margin of 11.0% and non-GAAP operating margin of 20.6% for Q1 2024Reiterating fiscal year 2024 Core Illumina revenue guidance that is approximately flat compared to 2023 and a Core Illumina non-GAAP operating margin for fiscal year 2024 of approximately 20%Consolidated revenue of $1.08 billion for Q1 2024, down 1% from Q1 2023 (down 1% on a constant currency basis)GAAP diluted loss per share of ($0.79) for Q1 2024, compared to GAAP diluted earnings per share of $0.02 for Q1 2023Non-GAAP diluted earnings per share of $0.09 for Q1 2024, compared to non-GAAP diluted earnings per share of $0.08 in Q1 2023Illumina remains on track to divest GRAIL through either a sale or a capital markets transaction, with the goal of finalizing the terms of divestiture by the end of Q2 2024. In April, Illumina received approval of its divestment plan from the European Commission. In the instance of a capital markets transaction, the divestment plan requires Illumina to provide GRAIL with approximately $1 billion in fundingSAN DIEGO, May 2, 2024 /PRNewswire/ -- Illumina, Inc. (Nasdaq: ILMN) (\"Illumina\" or the \"company\") today announced its financial results for the first quarter of fiscal year 2024, which include the consolidated financial results for GRAIL.\n\n\"The Illumina team delivered results ahead of our expectations by supporting our customers with innovative solutions that enable the next wave of progress in genomics and multiomics,\" said Jacob Thaysen, Chief Executive Officer. \"Our customers are leveraging the NovaSeq X to drive increased sequencing activity, even in a persistently challenging global macroeconomic environment. Additionally, our team's strong execution and continued focus on operational excellence enabled us to deliver year-over-year improvement in both gross margin and non-GAAP operating margin.\"\nFirst quarter consolidated results\nGAAP\nNon-GAAP (a)\nDollars in millions, except per share amounts\nQ1 2024\nQ1 2023\nQ1 2024\nQ1 2023\nRevenue\n$ 1,076\n$ 1,087\n$ 1,076\n$ 1,087\nGross margin\n62.0 %\n60.3 %\n66.5 %\n64.7 %\nResearch and development (\"R&D\") expense\n$ 339\n$ 341\n$ 335\n$ 339\nSelling, general and administrative (\"SG&A\") expense\n$ 439\n$ 378\n$ 349\n$ 343\nOpe...