Press release
Illumina Reports Financial Results for Third Quarter of Fiscal Year 2023
Welcomed new CEO Jacob Thaysen, Ph.D., who started with Illumina on September 25, 2023With respect to GRAIL, continue to proceed quickly: retained advisors
About this update from Illumina, Inc.
[{"type":"text","content":"Welcomed new CEO Jacob Thaysen, Ph.D., who started with Illumina on September 25, 2023With respect to GRAIL, continue to proceed quickly: retained advisors and preparing for sale and capital markets transaction options for GRAIL, including filing a Form 10, in accordance with the European Commission's divestiture order; a Board special committee has been established to expedite decisions; in parallel, ongoing appeals preserve flexibility for any divestiture of GRAIL and future transactionsRevenue of $1.12 billion for Q3 2023, flat compared to Q3 2022 (up 1% on a constant currency basis) and down 5% from Q2 2023Shipped 97 NovaSeq X instruments in Q3 2023; now expect to ship 330 to 340 instruments for fiscal year 2023GAAP diluted loss per share of $(4.77) for Q3 2023, which included goodwill and intangible impairments of $821 million related to the GRAIL segment, compared to GAAP diluted loss per share of $(24.26) for Q3 2022, which included goodwill impairment of $3.91 billion related to the GRAIL segmentNon-GAAP diluted earnings per share of $0.33 for Q3 2023, compared to non-GAAP diluted earnings per share of $0.34 for Q3 2022Now expect fiscal year 2023 consolidated revenue to decrease 2% to 3% from 2022, including Core Illumina revenue to decrease 3% to 4% from 2022 and GRAIL revenue at the low end of the $90 million to $110 million rangeNow expect GAAP diluted loss per share of $(6.67) to $(6.57) for fiscal year 2023, which includes goodwill and intangible impairments of $821 million related to the GRAIL segmentNow expect non-GAAP diluted earnings per share of $0.60 to $0.70 for fiscal year 2023SAN DIEGO, Nov. 9, 2023 /PRNewswire/ -- Illumina, Inc. (Nasdaq: ILMN) (\"Illumina\" or the \"company\") today announced its financial results for the third quarter of fiscal year 2023, which include the consolidated financial results for GRAIL.\n\n\"While the environment remains challenging, I am confident in our ability to navigate it and position the company for long-term success,\" said Jacob Thaysen, Chief Executive Officer. \"I came to Illumina for the opportunity presented by our core business. While I evaluate the company's strategy, we will remain focused on driving on further placements of the NovaSeq X, which will boost consumables demand. We will also continue optimizing our operations and drive stronger execution.\"\nThird ...