Illumina, Inc. · NASDAQ:ILMN
Illumina — Q2 2026 Earnings Presentation
22 slides from Illumina's earnings presentation, Jul 30, 2026
Slide 1: Q2 2026 Earnings Presentation
Q2 2026 Earnings Presentation July 30, 2026 © 2026 Illumina, Inc. All rights reserved.
Slide 2: Cautionary Notes
Cautionary Notes This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements are: (i) changes in the rate of gr
Slide 3: Jacob Thaysen, Chief Executive Officer
Jacob Thaysen Chief Executive Officer © 2026 Illumina, Inc. All rights reserved. 3
Slide 4: Illumina Q2'26 Results Summary
Illumina Q2’26 Results Summary Revenue ROW Organic Growth Non-GAAP Operating Margin Non-GAAP Diluted EPS $1.16B +6.5% Organic | +9.5% Reported +8.1% 22.5% $1.31 Q2’26 NovaSeq X Placements Regional Revenue >95 USCAN EMEALA $653M $368M +13% Organic | +15% Reported 56% +0% Organic | +4% Reported $1.16B
Slide 5: Ankur Dhingra, Chief Financial Officer
Ankur Dhingra Chief Financial Officer © 2026 Illumina, Inc. All rights reserved. 5
Slide 6: Illumina Q2'26 Revenue
Illumina Q2’26 Revenue ($ in millions) Illumina Revenue Sequencing Consumables Revenue +6% Organic | +9% Reported Total ROW +8% ROW Organic +4% Organic | +5% Reported +5% Organic | +6% Reported $1,159 $1,059 $775 $740 $734 $690 Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 ROW = rest-of-world. See Appendix fo
Slide 7: Illumina Sequencing Revenue Detail
Illumina Sequencing Revenue Detail Sequencing Revenue ROW ($ in millions) Q1'25 Q2'25 Q3'25 Q4'25 2025 Q1'26 Q2'26 Product Revenue Consumables $640 $690 $707 $713 $2,750 $687 $734 Instruments $103 $92 $104 $150 $449 $114 $122 Sequencing Consumables Revenue Growth Rates Total – ROW reported (0%) 2% 3
Slide 8: Q2'26 High-Throughput Transition Updates
Q2’26 High-Throughput Transition Updates NovaSeq X Transition NovaSeq X % of NovaSeq X % of HT Gb Shipped HT Consumables Revenue 91% 90% 90% 92% 59% 83% 55% 55% 82% 82% 82% 80% 80% 51% 78% 76% 78% 70% 69% 71% 66% 68% 44% 64% 43% 40% 59% 55% 36% 51% 53% 49% 45% 43% 27% 35% Q2'24 Q3'24 Q4'24 Q1'25 Q2'
Slide 9: Illumina Q2'26 Revenue (Cont'd)
Illumina Q2’26 Revenue (Cont’d) ($ in millions) Sequencing Instruments Revenue Sequencing Service & Other Revenue +30% Organic | +31% Reported +13% Organic | +14% Reported +31% ROW Organic +14% ROW Organic $154 $136 $125 $96 Q2'25 Q2'26 Q2'25 Q2'26 ROW = rest-of-world. See Appendix for reconciliatio
Slide 10: Illumina Q2'26 Non-GAAP Financials
Illumina Q2’26 Non-GAAP Financials Gross Margin Operating Margin Diluted EPS (120 bps) (130 bps) +10% 69.4% 68.2% $1.31 $1.19 23.8% 22.5% Q2'25 Q2'26 Q2'25 Q2'26 Q2'25 Q2'26 See Appendix for reconciliations of GAAP and non-GAAP financial measures. © 2026 Illumina, Inc. All rights reserved. 10
Slide 11: Illumina Q2'26 Cash Flow & Balance Sheet Items
Illumina Q2’26 Cash Flow & Balance Sheet Items Cash Flow Updates $201M $39M $162M Cash Flow from Operations Capital Expenditures Free Cash Flow Share Repurchase Program Balance Sheet Updates ~0.94M $129.07 ~$122M ~$1.17B ~$1.99B ~1.6x Illumina Shares Avg. Price per Share Total Cost Cash, Cash Equiva
Slide 12: Illumina Guidance for FY26
Illumina Guidance for FY26 As of 07/30/2026. All growth rates reflect YoY trends. FY26 Guidance Q3'26 Guidance Non-GAAP Guidance Total Illumina Revenue $4.60B - $4.64B $1.14B - $1.16B YoY Growth Guidance ILMN Organic Growth, ROW1 > 5.0% ~ 4.5% 1 ILMN Organic Growth > 4.0% ~ 4.5% Organic Sequencing G
Slide 13: Q&A
Q&A Jacob Thaysen Ankur Dhingra Chief Executive Officer Chief Financial Officer © 2026 Illumina, Inc. All rights reserved. 13
Slide 14: Statement regarding use of non-GAAP financial measures
Statement regarding use of non-GAAP financial measures The company reports non-GAAP results for diluted earnings per share, gross margin, operating margin, and free cash flow, among others, in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with
Slide 15: Condensed Statements of Cash Flows
Illumina, Inc. Condensed Statements of Cash Flows (In millions) (unaudited) Three Months Ended Six Months Ended June 28, June 29, June 28, June 29, 2026 2025 2026 2025 Net cash provided by operating activities $ 201 $ 234 $ 490 $ 474 Net cash used in investing activities (121) (49) (488) (112) Net c
Slide 16: Results of Operations - Revenue
Illumina, Inc. Results of Operations - Revenue (Dollars in millions) (unaudited) TABLE 1: RECONCILIATION OF REVENUE GROWTH: Three Months Six Months Ended Ended June 28, June 28, 2026 2026 Revenue growth 9.5 % 7.2 % Impact of acquisitions (2.1)% (1.9)% Impact of currency exchange rates (0.9)% (1.4)%
Slide 17: Results of Operations - Revenue by Source
Illumina, Inc. Results of Operations - Revenue by Source (unaudited) TABLE 1: RECONCILIATION OF REVENUE GROWTH - REVENUE BY SOURCE: Three Months Ended Six Months Ended June 28, June 28, 2026 2026 Sequencing consumables revenue growth 5% 4% Impact of currency exchange rates (1)% (1)% Organic revenue
Slide 18: Results of Operations - Revenue by Region
Illumina, Inc. Results of Operations - Revenue by Region (unaudited) TABLE 1: RECONCILIATION OF REVENUE GROWTH - REVENUE BY REGION: Three Months Ended Six Months Ended June 28, June 28, 2026 2026 USCAN revenue growth 15 % 10 % Impact of acquisitions (2)% (1)% Impact of currency exchange rates —% —%
Slide 19: Results of Operations - Non-GAAP
Illumina, Inc. Results of Operations - Non-GAAP (Dollars in millions, except per share amounts) (unaudited) TABLE 1: RECONCILIATION OF GAAP AND NON-GAAP DILUTED EARNINGS PER SHARE: Three Months Ended Six Months Ended June 28, June 29, June 28, June 29, 2026 2025 2026 2025 GAAP diluted earnings per s
Slide 20: Results of Operations - Non-GAAP (continued)
Illumina, Inc. Results of Operations - Non-GAAP (continued) (Dollars in millions) (unaudited) TABLE 3: RECONCILIATION OF GAAP AND NON-GAAP RESULTS OF OPERATIONS AS A PERCENT OF REVENUE: Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 GAAP R&D expense $ 252
Slide 21: Non-GAAP footnotes and definitions
(a) Organic revenue growth adjusts for the impact from acquisitions and currency movements, which is calculated using comparative prior period foreign exchange rates to translate current period revenue, net of the effects of hedges; Rest of World (ROW) organic revenue growth also adjusts for the imp
Slide 22: Results of Operations - Non-GAAP (continued)
Illumina, Inc. Results of Operations - Non-GAAP (continued) (Dollars in millions) (unaudited) TABLE 4: RECONCILIATION OF GAAP AND NON-GAAP TAX PROVISION: Three Months Ended Six Months Ended June 28, 2026 June 29, 2025 June 28, 2026 June 29, 2025 GAAP tax provision $ 53 20.5 % $ 71 23.4 % $ 77 18.4 %