Press release
Illumina Reports Financial Results for Second Quarter of Fiscal Year 2025
Revenue of $1.06 billion for Q2 2025, down 3% from Q2 2024 on both a reported and constant currency basisGAAP operating margin of 20.2% and non-GAAP operating
About this update from Illumina, Inc.
[{"type":"text","content":"Revenue of $1.06 billion for Q2 2025, down 3% from Q2 2024 on both a reported and constant currency basisGAAP operating margin of 20.2% and non-GAAP operating margin of 23.8% for Q2 2025GAAP diluted EPS of $1.49 and non-GAAP diluted EPS of $1.19 for Q2 2025Cash provided by operations of $234 million and free cash flow of $204 million for Q2 2025For fiscal year 2025, we now expect:Total company constant currency revenue decline in the range of (2.5%) to (0.5%), up from (3%) to (1%) previouslyNon-GAAP operating margin of approximately 22% - 22.5%, up from 21.5% - 22.0% previouslyNon-GAAP diluted EPS in the range of $4.45 - $4.55, an increase from our May guidance of $4.20 - $4.30. This includes a benefit of approximately 10 cents from recently passed legislation that allows U.S. based R&D spend to be tax-deductibleIn the quarter, repurchased approximately 4.5 million shares of Illumina stock for $380 million at an average price of $84.66 per shareEntered into a definitive agreement to acquire SomaLogic from Standard BioTools; transaction expected to close in the first half of 2026, subject to regulatory approvalSAN DIEGO, July 31, 2025 /PRNewswire/ -- Illumina, Inc. (Nasdaq: ILMN) (\"Illumina\" or the \"company\") today announced its financial results for the second quarter of fiscal year 2025.\n\n\"The Illumina team again delivered results that exceeded our guidance, driven by the continued ramp in X consumables, as well as accelerating growth in clinical, our largest customer segment,\" said Jacob Thaysen, Chief Executive Officer. \"In research, we are actively helping our customers navigate a constrained funding environment. Even in these challenging conditions, the team's focus on operational excellence helped drive margin expansion, enabling us to increase our expectations for the year.\"\nSecond quarter Core Illumina segment results\nGAAP\nNon-GAAP (a)\nDollars in millions, except per share amounts\nQ2 2025\nQ2 2024\nQ2 2025\nQ2 2024\nRevenue (b)\n$ 1,059\n$ 1,092\n$ 1,059\n$ 1,092\nGross margin (c)\n65.6 %\n68.0 %\n69.4 %\n69.4 %\nResearch and development (R&D) expense\n$ 247\n$ 241\n$ 243\n$ 241\nSelling, general and administrative (SG&A) expense\n$ 234\n$ 60\n$ 241\n$ 275\nOperating profit\n$ 214\n$ 442\n$ 252\n$ 242\nOperating margin\n20.2 %\n40.5 %\n23.8 %\n22.2 %\nTax provision\n$ 71\n$ 35\n$ 54\n$ 55\nTax rate\n23.4 %...