Press release
Illumina Reports Financial Results for Second Quarter of Fiscal Year 2023
Revenue of $1.18 billion for Q2 2023, up 1% from Q2 2022 (up 3% on a constant currency basis) and up 8% from Q1 2023Shipped 109 NovaSeq X instruments in Q2
About this update from Illumina, Inc.
[{"type":"text","content":"Revenue of $1.18 billion for Q2 2023, up 1% from Q2 2022 (up 3% on a constant currency basis) and up 8% from Q1 2023Shipped 109 NovaSeq X instruments in Q2 2023; boosting our supply capacity to more than 390 instruments for fiscal year 2023GAAP diluted loss per share of $(1.48) for Q2 2023, compared to GAAP diluted loss per share of $(3.40) for Q2 2022, which included $609 million in legal contingenciesNon-GAAP diluted earnings per share of $0.32 for Q2 2023, compared to non-GAAP diluted earnings per share of $0.57 for Q2 2022Now expect fiscal year 2023 consolidated revenue growth of approximately 1% from 2022, including Core Illumina revenue that is approximately flat with 2022 and GRAIL revenue still in the range of $90 million to $110 millionNow expect GAAP diluted loss per share of $(2.08) to $(1.93) for fiscal year 2023Now expect non-GAAP diluted earnings per share of $0.75 to $0.90 for fiscal year 2023SAN DIEGO, Aug. 9, 2023 /PRNewswire/ -- Illumina, Inc. (Nasdaq: ILMN) (\"Illumina\" or the \"company\") today announced its financial results for the second quarter of fiscal year 2023, which include the consolidated financial results for GRAIL.\n\"Illumina's second quarter consolidated revenue grew 8% sequentially from the first quarter, and we saw higher-than-anticipated NovaSeq X shipments,\" said Charles Dadswell, Interim Chief Executive Officer. \"Despite additional placements, we expect our second half revenue to be negatively impacted by customers remaining more cautious in their purchasing, a more protracted recovery in China, and a larger-than-expected temporary decline in high throughput consumables as customers transition to the NovaSeq X. In response, we are increasing customer support for the NovaSeq X and continue to manage our expense base in a disciplined way.\" \nSecond quarter consolidated results\nGAAP\nNon-GAAP (a)\nDollars in millions, except per share amounts\nQ2 2023\nQ2 2022\nQ2 2023\nQ2 2022\nRevenue\n$ 1,176\n$ 1,162\n$ 1,176\n$ 1,162\nGross margin\n62.2 %\n66.0 %\n66.5 %\n69.4 %\nResearch and development (\"R&D\") expense\n$ 358\n$ 327\n$ 345\n$ 327\nSelling, general and administrative (\"SG&A\") expense\n$ 450\n$ 410\n$ 355\n$ 339\nLegal contingency and settlement\n$ 12\n$ 609\n$ —\n$ —\nOperating (loss) profit\n$ (88)\n$ (579)\n$ 82\n$ 141\nOperating margin\n(7.5) %\n(49.8) %\n7.0 %\n12.2 %\nTax r...