Press release
Illumina Reports Financial Results for Fourth Quarter and Fiscal Year 2024
Core Illumina revenue of $1.1 billion for Q4 2024, up 1% from Q4 2023 on both a reported and constant currency basis; revenue of $4.3 billion for fiscal year
About this update from Illumina, Inc.
[{"type":"text","content":"Core Illumina revenue of $1.1 billion for Q4 2024, up 1% from Q4 2023 on both a reported and constant currency basis; revenue of $4.3 billion for fiscal year 2024, down 2% from fiscal year 2023 on both a reported and constant currency basisCore Illumina GAAP operating margin of 15.8% and non-GAAP operating margin of 19.7% for Q4 2024; GAAP operating margin of 34.0% and non-GAAP operating margin of 21.3% for fiscal year 2024Core Illumina GAAP diluted earnings per share (EPS) of $0.73 and non-GAAP diluted EPS of $0.95 for Q4 2024; GAAP diluted EPS of $5.61 and non-GAAP diluted EPS of $4.16 for fiscal year 2024Core Illumina cash provided by operations of $1.2 billion and free cash flow of $1.1 billion for fiscal year 2024Fiscal year 2025 guidance does not attempt to reflect any impact from the recent China Ministry of Commerce announcement and assumes a continuation of the current macroeconomic and political environmentsFor fiscal year 2025, continue to expect Core Illumina constant currency revenue growth in the low single digits (reported revenue in the range of approximately $4.28 billion to $4.4 billion) and non-GAAP operating margin of approximately 23%; expect non-GAAP diluted EPS in the range of $4.50 to $4.65SAN DIEGO, Feb. 6, 2025 /PRNewswire/ -- Illumina, Inc. (Nasdaq: ILMN) (\"Illumina\" or the \"company\") today announced its financial results for the fourth quarter and fiscal year 2024. The financial results for fiscal year 2024 and Q4 2023 and fiscal year 2023 include the financial results for GRAIL which was spun off on June 24, 2024.\n\n\"The Illumina team delivered fourth quarter revenue that exceeded our expectations, and we made significant progress in 2024 toward our goals to drive customer-centric innovation, margin expansion, and EPS growth,\" said Jacob Thaysen, Chief Executive Officer. \"For 2025, we will continue our transformation, executing our refreshed strategy that prioritizes a sharp focus on customers and our own operational excellence in order to drive Illumina forward.\"\nFourth quarter Core Illumina segment results\nGAAP\nNon-GAAP (a)\nDollars in millions, except per share amounts\nQ4 2024\nQ4 2023\nQ4 2024\nQ4 2023\nRevenue (b)\n$ 1,104\n$ 1,097\n$ 1,104\n$ 1,097\nGross margin (c)\n65.9 %\n63.3 %\n67.4 %\n64.7 %\nResearch and development (R&D) expense\n$ 256\n$ 260\n$ 255\n$ 248\nSelling, general...