Illumina, Inc.NASDAQ: ILMN

ILMN Q3'26 Earnings Supplement

Oct 29, 2026 at 4:29 PM EDT · Issued by Illumina, Inc.

Summary by 6ix AI

Illumina, a maker of sequencing and microarray products, posted total revenue of $1,129 million and net income under standard accounting rules (GAAP) of $220 million, or $1.43 per diluted share, for the third quarter of 2026. That compares with revenue of $1,084 million and net income of $150 million in the third quarter of 2025.

Key details

Third-quarter 2026 revenue was reduced by $37 million of customer refunds accrued after Illumina recognized a benefit from refunds of IEEPA tariffs (US tariffs imposed under the International Emergency Economic Powers Act); revenue excluding these refunds was $1,166 million.
Non-GAAP (adjusted, excluding items such as acquisition-related costs and investment gains or losses) net income was $249 million, or $1.62 per diluted share, for the third quarter of 2026.
GAAP gross margin was 74% and operating profit was $305 million for the third quarter of 2026.
Cash provided by operating activities was $419 million and free cash flow (that cash minus equipment purchases) was $378 million in the third quarter of 2026. Cash and cash equivalents were $1,289 million at the end of the quarter.
By region, third-quarter 2026 revenue was $637 million in the United States and Canada, $347 million in Europe, Middle East, Africa and Latin America, $59 million in Greater China and $86 million in Asia-Pacific.

6ix AI wrote this summary from the release below and checked it against the release.

On 6ix: 6ix.com/news/illumina-ilmn-q326-earnings-supplement

Watch Illumina explain itIllumina (NASDAQ:ILMN) Q3 2026 Earnings Call · Replay · Oct 29, 2026

‌Condensed Consolidated Balance Sheets

2024

2025

2026

(in millions) ASSETS

Current assets:

Cash and cash equivalents Short-term investments (a) Accounts receivable, net Inventory, net

Prepaid expenses and other current assets Total current assets

Property and equipment, net Operating lease right-of-use assets Goodwill

Intangible assets, net Deferred tax assets, net (b) Other assets

Total assets

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable Accrued liabilities

Term debt, current portion Total current liabilities

Operating lease liabilities Term debt

Other long-term liabilities Stockholders' equity

Total liabilities and stockholders' equity

unaudited unaudited unaudited

1Q 24	2Q 24	3Q 24	4Q 24
$ 1,108	$ 920	$ 869	$ 1,127
-	74	70	93
635	641	699	735
584	561	574	547
256	263	161	244
2,583	2,459	2,373	2,746
964	859	832	815
550	460	453	419
2,545	1,079	1,113	1,113
2,940	278	305	295
-	632	617	567
458	314	321	348
$ 10,040	$ 6,081	$ 6,014	$ 6,303
$ 201	$ 199	$ 191	$ 221
1,273	1,265	784	827
-	744	-	499
1,474	2,208	975	1,547
700	616	613	554
1,490	1,490	1,988	1,490
642	331	313	339
5,734	1,436	2,125	2,373
$ 10,040	$ 6,081	$ 6,014	$ 6,303

1Q 25	2Q 25	3Q 25	4Q 25
$ 1,113	$ 934	$ 1,050	$ 1,418
124	221	228	215
699	701	729	854
537	575	590	564
200	210	199	238
2,673	2,641	2,796	3,289
782	764	748	759
410	397	382	370
1,113	1,113	1,113	1,113
278	238	225	210
553	534	490	454
373	400	423	449
$ 6,182	$ 6,087	$ 6,177	$ 6,644
$ 207	$ 200	$ 218	$ 240
734	762	746	846
499	499	998	499
1,440	1,461	1,962	1,585
539	528	506	486
1,491	1,492	994	1,490
344	348	334	360
2,368	2,258	2,381	2,723
$ 6,182	$ 6,087	$ 6,177	$ 6,644

1Q 26 2Q 26 3Q 26

$ 1,089 $ 1,040 $ 1,289

66 128 48

738 764 738

611 629 667

234 273 293

2,738 2,834 3,035

755 745 731

371 362 356

1,284 1,284 1,284

430 410 391

458 439 454

523 576 561

$ 6,559 $ 6,650 $ 6,812

$ 218 $ 230 $ 241

849 848 915

499 500 -

1,566 1,578 1,156

475 454 439

1,490 1,491 1,789

352 289 283

2,676 2,838 3,145

$ 6,559 $ 6,650 $ 6,812

The consolidated results include the results for GRAIL prior to the spin off on June 24, 2024.

(a) Short-term investments was included in Prepaid expenses and other current assets in Q1 2024.

(b) Deferred tax assets, net was included in Other assets in Q1 2024.

‌Condensed Consolidated Statements of Operations

2026

2025

2024

1Q 24	2Q 24	3Q 24	4Q 24	FY 24
$ 876 200	$ 927 185	$ 914 166	$ 939 165	$ 3,656 716
1,076	1,112	1,080	1,104	4,372
255	250	235	278	1,017
106	95	84	82	367
48	46	16	16	127
409	391	335	376	1,511
667	721	745	728	2,861
339	325	253	256	1,169
439	147	239	279	1,092
-	1,886	-	-	1,889
-	-	(488)	18	(456)
778	2,358	4	553	3,694
(111)	(1,637)	741	175	(833)
2	(339)	(21)	13	(346)
(109)	(1,976)	720	188	(1,179)
17	12	15	1	44
$ (126)	$(1,988)	$ 705	$ 187	$(1,223)
$ (0.79)	$(12.48)	$ 4.43	$ 1.17	$ (7.69)
$ (0.79)	$(12.48)	$ 4.42	$ 1.17	$ (7.69)
159	159	159	159	159
159	159	160	160	159
62 %	65 %	69 %	66 %	65 %
31 %	29 %	23 %	23 %	27 %
41 %	13 %	22 %	25 %	25 %
- %	170 %	- %	- %	43 %
- %	- %	(45)%	2 %	(10)%
72 %	212 %	- %	50 %	85 %
(10)%	(147)%	69 %	16 %	(19)%
(15)%	(1)%	2 %	1 %	(4)%

1Q 25	2Q 25	3Q 25	4Q 25	FY 25
$ 880 161	$ 912 147	$ 927 157	$ 990 169	$ 3,709 634
1,041	1,059	1,084	1,159	4,343
253	276	267	312	1,107
88	71	68	72	300
17	17	16	16	66
358	364	351	400	1,473
683	695	733	759	2,870
252	247	229	239	967
267	234	277	310	1,086
-	-	-	-	-
-	-	-	8	10
519	481	506	557	2,063
164	214	227	202	807
18	92	(7)	176	279
182	306	220	378	1,086
51	71	70	44	236
$ 131	$ 235	$ 150	$ 334	$ 850
$ 0.83	$ 1.49	$ 0.98	$ 2.18	$ 5.47
$ 0.82	$ 1.49	$ 0.98	$ 2.16	$ 5.45
159	157	153	153	155
159	157	154	154	156
66 %	66 %	68 %	66 %	66 %
24 %	23 %	21 %	21 %	22 %
26 %	22 %	26 %	27 %	25 %
- %	- %	- %	- %	- %
- %	- %	- %	1 %	- %
50 %	45 %	47 %	48 %	48 %
16 %	20 %	21 %	17 %	19 %
28 %	23 %	32 %	12 %	22 %

1Q 26	2Q 26	3Q 26	FY 26
$ 917 174	$ 982 177	$ 946 183	$ 2,845 535
1,091	1,159	1,129	3,380
273	291	199	763
80	80	82	243
17	18	18	53
370	389	299	1,059
721	770	830	2,321
240	252	244	736
272	273	281	826
-	-	-	-
-	-	-	-
512	525	525	1,562
209	245	305	759
(52)	15	(41)	(78)
157	260	264	681
23	53	44	120
$ 134	$ 207	$ 220	$ 561
$ 0.88	$ 1.37	$ 1.46	$ 3.70
$ 0.87	$ 1.35	$ 1.43	$ 3.65
153	151	151	152
154	153	154	154
66 %	66 %	74 %	69 %
22 %	22 %	22 %	22 %
25 %	24 %	25 %	24 %
- %	- %	- %	- %
- %	- %	- %	- %
47 %	45 %	47 %	46 %
19 %	21 %	27 %	23 %
15 %	21 %	16 %	18 %

unaudited unaudited unaudited

(in millions, except per share amounts and %)

Revenue:

Product revenue

Service and other revenue Total revenue

Cost of revenue:

Cost of product revenue

Cost of service and other revenue Amortization of acquired intangible assets Total cost of revenue

Gross profit

Operating expense:

Research and development Selling, general and administrative

Goodwill and intangible impairment (a) Legal contingency and settlement (a) Total operating expense

Income (loss) from operations Other income (expense), net

Income (loss) before income taxes Provision for income taxes

Net income (loss) Earnings (loss) per share:

Basic Diluted

Shares used in computing earnings (loss) per share: Basic

Diluted

Gross margin

R&D as % of revenue SG&A as % of revenue

Goodwill and intangible impairment as % of revenue Legal contingency and settlement as % of revenue Operating expenses as % of revenue

Operating margin Tax rate

The consolidated results include the results for GRAIL prior to the spin off on June 24, 2024.

(a) Goodwill and intangible impairment and legal contingency and settlement are broken out from R&D and SG&A when material. As a result, amounts may not crossfoot.

‌Consolidated Non-GAAP Data unaudited

See reconciliations between GAAP and non-GAAP tables within this workbook for reconciliations of the non-GAAP financial measures to GAAP

2024

2025

2026

(in millions, except per share amounts and %)	1Q 24	2Q 24	3Q 24	4Q 24	FY 24	1Q 25	2Q 25	3Q 25	4Q 25	FY 25	1Q 26	2Q 26	3Q 26	FY 26
Revenue	$ 1,076	$ 1,112	$ 1,080	$ 1,104	$ 4,372	$ 1,041	$ 1,059	$ 1,084	$ 1,159	$ 4,343	$ 1,091	$ 1,159	$ 1,129	$ 3,380
Gross profit	$ 716	$ 767	$ 761	$ 745	$ 2,990	$ 702	$ 735	$ 750	$ 777	$ 2,964	$ 744	$ 790	$ 850	$ 2,385
Research and development expense	$ 335	$ 325	$ 249	$ 255	$ 1,163	$ 241	$ 243	$ 228	$ 238	$ 950	$ 239	$ 252	$ 243	$ 733
Selling, general and administrative expense	$ 349	$ 358	$ 268	$ 271	$ 1,247	$ 248	$ 241	$ 256	$ 264	$ 1,009	$ 267	$ 278	$ 282	$ 827
Operating profit	$ 33	$ 84	$ 244	$ 218	$ 580	$ 212	$ 252	$ 265	$ 275	$ 1,004	$ 239	$ 260	$ 325	$ 824
Net income	$ 14	$ 57	$ 181	$ 138	$ 390	$ 154	$ 187	$ 206	$ 208	$ 756	$ 177	$ 201	$ 249	$ 627
Diluted EPS	$ 0.09	$ 0.36	$ 1.14	$ 0.86	$ 2.45	$ 0.97	$ 1.19	$ 1.34	$ 1.35	$ 4.84	$ 1.15	$ 1.31	$ 1.62	$ 4.08
Tax rate	46.4 %	22.3 %	21.0 %	31.1 %	26.3 %	22.0 %	22.2 %	18.6 %	19.5 %	20.5 %	20.5 %	20.5 %	20.5 %	20.5 %

The consolidated results include the results for GRAIL prior to the spin off on June 24, 2024.

‌Core Illumina Non-GAAP Data unaudited

See reconciliations between GAAP and non-GAAP tables within this workbook for reconciliations of the non-GAAP financial measures to GAAP

2024

2025

2026

(in millions, except per share amounts and %)	1Q 24	2Q 24	3Q 24	4Q 24	FY 24	1Q 25	2Q 25	3Q 25	4Q 25	FY 25	1Q 26	2Q 26	3Q 26	FY 26
Revenue (a)	$ 1,056	$ 1,092	$ 1,080	$ 1,104	$ 4,332	$ 1,041	$ 1,059	$ 1,084	$ 1,159	$ 4,343	$ 1,091	$ 1,159	$ 1,129	$ 3,380
Gross profit	$ 708	$ 758	$ 761	$ 745	$ 2,973	$ 702	$ 735	$ 750	$ 777	$ 2,964	$ 744	$ 790	$ 850	$ 2,385
Research and development expense	$ 237	$ 241	$ 249	$ 255	$ 982	$ 241	$ 243	$ 228	$ 238	$ 950	$ 239	$ 252	$ 243	$ 733
Selling, general and administrative expense	$ 254	$ 275	$ 268	$ 271	$ 1,069	$ 248	$ 241	$ 256	$ 264	$ 1,009	$ 267	$ 278	$ 282	$ 827
Operating profit	$ 218	$ 242	$ 244	$ 218	$ 922	$ 212	$ 252	$ 265	$ 275	$ 1,004	$ 239	$ 260	$ 325	$ 824
Net income	$ 155	$ 174	$ 181	$ 152	$ 663	$ 154	$ 187	$ 206	$ 208	$ 756	$ 177	$ 201	$ 249	$ 627
Diluted EPS	$ 0.98	$ 1.09	$ 1.14	$ 0.95	$ 4.16	$ 0.97	$ 1.19	$ 1.34	$ 1.35	$ 4.84	$ 1.15	$ 1.31	$ 1.62	$ 4.08
Tax rate	25.7 %	24.2 %	21.0 %	23.7 %	23.6 %	22.0 %	22.2 %	18.6 %	19.5 %	20.5 %	20.5 %	20.5 %	20.5 %	20.5 %

(a) Amounts include intercompany revenue between segments, which is eliminated in consolidation.

‌Consolidated Reconciliation Between GAAP and Non-GAAP Net Income (Loss) and Diluted Earnings (Loss) Per Share unaudited

2024

2025

2026

1Q 24 2Q 24 3Q 24 4Q 24	FY 24
$ (0.79) $ (12.48) $ 4.42 $ 1.17	$ (7.69)
0.31 0.29 0.09 0.10	0.81
0.03 - 0.03 0.01	0.04
0.57 (1.33) (0.18) 0.04	(0.97)
- - (3.06) 0.11	(2.87)
- 11.84 - -	11.88
(0.05) 2.06 0.04 (0.19)	1.85
0.02 (0.02) (0.20) (0.38)	(0.60)
$ 0.09 $ 0.36 $ 1.14 $ 0.86	$ 2.45
$ (126) $ (1,988) $ 705 $ 187	$ (1,223)
49 46 16 17	129
4 - 4 1	6
91 (211) (30) 7	(155)
- - (488) 18	(456)
- 1,886 - -	1,889
(8) 328 7 (31)	295
4 (4) (33) (61)	(95)
$ 14 $ 57 $ 181 $ 138	$ 390

1Q 25 2Q 25 3Q 25 4Q 25	FY 25
$ 0.82 $ 1.49 $ 0.98 $ 2.16	$ 5.45
0.12 0.25 0.11 0.12	0.60
0.07 0.03 0.01 0.01	0.11
0.12 (0.04) 0.13 0.30	0.48
- - - 0.05	0.06
- - - -	-
(0.21) (0.65) (0.04) (1.25)	(2.13)
0.05 0.11 0.15 (0.04)	0.27
$ 0.97 $ 1.19 $ 1.34 $ 1.35	$ 4.84
$ 131 $ 235 $ 150 $ 334	$ 850
19 40 17 18	94
11 4 1 1	17
19 (7) 21 45	76
- - - 8	10
- - - -	-
(33) (102) (6) (192)	(333)
7 17 23 (6)	42
$ 154 $ 187 $ 206 $ 208	$ 756

1Q 26 2Q 26 3Q 26	FY 26
$ 0.87 $ 1.35 $ 1.43	$ 3.65
0.15 0.13 0.13	0.42
0.01 - 0.01	0.02
0.03 (0.03) (0.01)	(0.01)
- - -	-
- - -	-
0.24 (0.15) 0.19	0.27
(0.15) 0.01 (0.13)	(0.27)
$ 1.15 $ 1.31 $ 1.62	$ 4.08
$ 134 $ 207 $ 220	$ 561
23 20 20	64
1 - 1	3
5 (4) (1)	(2)
- - -	-
- - -	-
37 (23) 29	42
(23) 1 (20)	(41)
$ 177 $ 201 $ 249	$ 627

(in millions, except per share amounts)

Table 1: Reconciliation of GAAP and Non-GAAP diluted earnings (loss) per share

GAAP earnings (loss) per share - diluted Cost of revenue (b)

Research and development costs (b) Selling, general and administrative costs (b) Legal contingency and settlement (b) Goodwill and intangible impairment (b) Other expense (income), net (b)

Provision for income taxes (b)

Non-GAAP earnings per share - diluted (a)

Table 2: Reconciliation of GAAP and Non-GAAP net income (loss)

GAAP net income (loss) Cost of revenue (b)

Research and development costs (b) Selling, general and administrative costs (b) Legal contingency and settlement (b) Goodwill and intangible impairment (b) Other expense (income), net (b)

Provision for income taxes (b) Non-GAAP net income (a)

The consolidated results include the results for GRAIL prior to the spin off on June 24, 2024.

(a) Non-GAAP net income and diluted earnings per share exclude the effects of the pro forma adjustments detailed above. Non-GAAP net income and diluted earnings per share are key components of the financial metrics utilized by the company's board of directors to measure, in part, management's performance and determine significant elements of management's compensation. Management has excluded the effects of these items in these measures to assist investors in analyzing and assessing our past and future operating performance.

(b) Refer to Reconciliations between GAAP and Non-GAAP Results of Operations for details of amounts.

‌Core Illumina Reconciliation Between GAAP and Non-GAAP Net Income and Diluted Earnings Per Share unaudited

2026

2025

2024

1Q24 2Q24 3Q24 4Q24	FY 24
$ 0.44 $ 0.41 $ 4.03 $ 0.73	$ 5.61
0.09 0.10 0.10 0.10	0.40
0.03 - 0.03 0.01	0.04
0.52 (1.35) (0.18) 0.04	(1.06)
- - - -	0.02
- - (3.07) 0.11	(2.87)
(0.05) 2.06 0.04 (0.19)	1.86
(0.05) (0.13) 0.19 0.15	0.16
$ 0.98 $ 1.09 $ 1.14 $ 0.95	$ 4.16
$ 70 $ 66 $ 642 $ 117	$ 894
15 15 16 17	64
4 - 4 1	6
83 (215) (29) 25	(168)
- - - -	3
- - (488) -	(456)
(8) 328 7 (31)	295
(9) (20) 29 23	25
$ 155 $ 174 $ 181 $ 152	$ 663

1Q 25 2Q 25 3Q25 4Q25	FY25
$ 0.82 $ 1.49 $ 0.98 $ 2.16	$ 5.45
0.12 0.25 0.11 0.12	0.60
0.07 0.03 0.01 0.01	0.11
0.12 (0.04) 0.13 0.30	0.48
- - - -	-
- - - 0.05	0.06
(0.21) (0.65) (0.04) (1.25)	(2.13)
0.05 0.11 0.15 (0.04)	0.27
$ 0.97 $ 1.19 $ 1.34 $ 1.35	$ 4.84
$ 131 $ 235 $ 150 $ 334	$ 850
19 40 17 18	94
11 4 1 1	17
19 (7) 21 45	76
- - - -	-
- - - 8	10
(33) (102) (6) (192)	(333)
7 17 23 (6)	42
$ 154 $ 187 $ 206 $ 208	$ 756

1Q26 2Q26 3Q26	FY26
$ 0.87 $ 1.35 $ 1.43	$ 3.65
0.15 0.13 0.13	0.42
0.01 - 0.01	0.02
0.03 (0.03) (0.01)	(0.01)
- - -	-
- - -	-
0.24 (0.15) 0.19	0.27
(0.15) 0.01 (0.13)	(0.27)
$ 1.15 $ 1.31 $ 1.62	$ 4.08
$ 134 $ 207 $ 220	$ 561
23 20 20	64
1 - 1	3
5 (4) (1)	(2)
- - -	-
- - -	-
37 (23) 29	42
(23) 1 (20)	(41)
$ 177 $ 201 $ 249	$ 627

(in millions, except per share amounts)

Table 3: Reconciliation of GAAP and Non-GAAP diluted earnings per share

GAAP earnings per share - diluted Cost of revenue (b)

Research and development costs (b) Selling, general and administrative costs (b) Goodwill and intangible impairment (b) Legal contingency and settlement (b)

Other expense (income), net (b) Provision for income taxes (b)

Non-GAAP earnings per share - diluted (a)

Table 4: Reconciliation of GAAP and Non-GAAP net income

GAAP net income Cost of revenue (b)

Research and development costs (b) Selling, general and administrative costs (b) Goodwill and intangible impairment (b) Legal contingency and settlement (b)

Other expense (income), net (b) Provision for income taxes (b)

Non-GAAP net income (a)

Non-GAAP net income and diluted earnings per share exclude the effects of the pro forma adjustments detailed above. Non-GAAP net income and diluted earnings per share are key components of the financial metrics utilized by the company's board of directors to measure, in part, management's performance and determine significant elements of management's compensation. Management has excluded the effects of these items in these measures to assist investors in analyzing and assessing our past and future operating performance.
Refer to Reconciliations between GAAP and Non-GAAP Results of Operations for details of amounts.

‌Table 5: Reconciliation Between GAAP and Non-GAAP Results of Operations unaudited

2026

1Q 26 2Q 26 3Q 26	FY26
Core/Consolidated Core/Consolidated Core/Consolidated $ 721 $ 770 $ 830 23 20 20	Core/Consolidated $ 2,321 64
$ 744 $ 790 $ 850	$ 2,385
$ 240 $ 252 $ 244 (1) - (1)	$ 736 (3)
$ 239 $ 252 $ 243	$ 733
$ 272 $ 273 $ 281 1 9 6 (6) (4) (5)	$ 826 16 (15)
$ 267 $ 278 $ 282	$ 827
$ 209 $ 245 $ 305 23 20 20 1 - 1 6 (5) (1)	$ 759 64 3 (2)
$ 239 $ 260 $ 325	$ 824
$ (52) $ 15 $ (41) 37 (23) 29	$ (78) 42
$ (15) $ (8) $ (12)	$ (36)

(in millions)

GAAP gross profit (b) Acquisition-related costs (c)

Non-GAAP gross profit (a)

GAAP research and development expense Acquisition-related costs (c)

Non-GAAP research and development expense

GAAP selling, general and administrative expense Acquisition-related costs (c)

Transformational initiatives (d)

Non-GAAP selling, general and administrative expense

GAAP operating profit Cost of revenue

Research and development costs Selling, general, and administrative costs

Non-GAAP operating profit (a)

GAAP other income (expense), net Strategic investment gain (loss), net (e)

Non-GAAP other income (expense), net (a)

Non-GAAP gross profit, included within non-GAAP operating profit, is a key measure of the effectiveness and efficiency of manufacturing processes, product mix and the average selling prices of our products and services. Non-GAAP operating profit and non-GAAP other income (expense), net exclude the effects of the pro forma adjustments as detailed above. Non-GAAP operating margin is a key component of the financial metrics utilized by the company's board of directors to measure, in part, management's performance and determine significant elements of management's compensation. Management has excluded the effects of these items in these measures to assist investors in analyzing and assessing past and future operating performance.
Reconciling amounts are recorded in cost of revenue.
Amounts for 1Q 2026 consist primarily of $17 million for amortization of intangible assets (cost of revenue), $15 million related primarily to legal and other expenses for the SomaLogic acquisition (operating expense), and $6 million related to the amortization of an inventory fair value step-up recognized in SomaLogic purchase accounting (cost of revenue), offset by $16 million for fair value adjustments on our contingent consideration liabilities (operating expense). Amounts for 2Q 2026 consist primarily of $18 million for amortization of intangible assets (cost of revenue), $7 million related to expenses for the SomaLogic and GRAIL acquisitions (operating expense), and $2 million primarily related to the amortization of an inventory fair value step-up recognized in SomaLogic purchase accounting (cost of revenue), offset by $16 million for fair value adjustments on our contingent consideration liabilities (operating expense). Amounts for 3Q 2026 consist primarily of $18 million for amortization of intangible assets (cost of revenue), $5 million related to expenses for the SomaLogic and GRAIL acquisitions (operating expense), and $2 million primarily related to the amortization of an inventory fair value step-up recognized in SomaLogic purchase accounting (cost of revenue), offset by $11 million for fair value adjustments on our contingent consideration liabilities (operating expense).
Amounts for 1Q 2026, 2Q 2026 and 3Q 2026 consist primarily of costs related to implementation efforts to upgrade our ERP system.
Amounts consist of realized and unrealized gains (losses) and impairments on our investments.

FY25
Core/Consolidated $ 2,870 66 5 23
$ 2,964
$ 967 (1) (16)
$ 950
$ 1,086 (16) (39) (22)
$ 1,009
$ 10 $ (10)
$ -
$ 807 94 17 76 $ 10
$ 1,004
$ 279 (333)
$ (54)

‌Table 5: Reconciliation Between GAAP and Non-GAAP Results of Operations unaudited

						2025

(in millions)		1Q 25		2Q 25		3Q 25		4Q 25
		Core/Consolidated		Core/Consolidated		Core/Consolidated		Core/Consolidated
GAAP gross profit (b)	$	683	$	695	$	733	$	759
Acquisition-related costs (c)		17		16		16		16
Transformational initiatives (d)		2		1		1		2
Intangible impairment		-		23		-		-
Non-GAAP gross profit (a)	$	702	$	735	$	750	$	777
GAAP research and development expense	$	252	$	247	$	229	$	239
Acquisition-related costs (c)		-		-		-		-
Transformational initiatives (d)		(11)		(4)		(1)		(1)
Non-GAAP research and development expense	$	241	$	243	$	228	$	238
GAAP selling, general and administrative expense	$	267	$	234	$	277	$	310
Acquisition-related costs (c)		4		12		(11)		(21)
Transformational initiatives (d)		(18)		(5)		(10)		(6)
Other (f)		(5)		-		-		(19)
Non-GAAP selling, general and administrative expense	$	248	$	241	$	256	$	264
GAAP legal contingency and settlement	$	-	$	-	$	-	$	8
Legal contingency and settlement		-		-		-		(8)
Non-GAAP legal contingency and settlement	$	-	$	-	$	-	$	-
GAAP operating profit	$	164	$	214	$	227	$	202
Cost of revenue		19		40		17		18
Research and development costs		11		4		1		1
Selling, general, and administrative costs		18		(6)		20		46
Legal contingency and settlement		-		0		-		8
Non-GAAP operating profit (a)	$	212	$	252	$	265	$	275
GAAP other income (expense), net	$	18	$	92	$	(7)	$	176
Strategic investment gain, net (e)		(33)		(102)		(6)		(192)
Non-GAAP other expense, net (a)	$	(15)	$	(10)	$	(13)	$	(16)

Non-GAAP gross profit, included within non-GAAP operating profit (loss), is a key measure of the effectiveness and efficiency of manufacturing processes, product mix and the average selling prices of our products and services. Non-GAAP operating profit (loss) and non-GAAP other income (expense), net exclude the effects of the pro forma adjustments as detailed above. Non-GAAP operating margin is a key component of the financial metrics utilized by the company's board of directors to measure, in part, management's performance and determine significant elements of management's compensation. Management has excluded the effects of these items in these measures to assist investors in analyzing and assessing past and future operating performance.
Reconciling amounts are recorded in cost of revenue.
Amounts for 1Q 2025 consist of $17 million for amortization of intangible assets (cost of revenue) and $7 million related primarily to legal expenses for the GRAIL acquisition (SG&A), offset by $11 million for fair value adjustments on our contingent consideration liabilities (SG&A). Amounts for 2Q 2025 consist of $16 million for amortization of intangible assets (cost of revenue) and $9 million related primarily to legal and other expenses for the pending SomaLogic acquisition and legal expenses for the GRAIL acquisition (SG&A), offset by $21 million for fair value adjustments on our contingent consideration liabilities (SG&A). Amounts for 3Q 2025 consist of $16 million for amortization of intangible assets (cost of revenue), $4 million related to a lease impairment (SG&A), $4 million for legal expenses primarily related to the pending SomaLogic acquisition (SG&A), and $3 million for fair value adjustments on our contingent consideration liabilities (SG&A). Amounts for 4Q 2025 consist of $16 million for amortization of intangible assets (cost of revenue), $11 million for fair value adjustments on our contingent consideration liabilities (SG&A) and $10 million related primarily to legal and other expenses for the pending SomaLogic acquisition and legal expenses for the GRAIL acquisition (SG&A).
Amounts for 1Q 2025 and 2Q 2025 consist primarily of employee severance costs related to restructuring activities. Amounts for 3Q 2025 consist primarily of costs related to implementation efforts to upgrade our ERP system (SG&A). Amounts for 4Q 2025 consist primarily of employee severance costs related to restructuring activities and costs related to implementation efforts to upgrade our ERP system (SG&A). Amounts for YTD 2025 consist primarily of employee severance costs related to restructuring activities of $47 million and costs related to implementation efforts to upgrade our ERP system of $14 million.
Amounts consist of realized and unrealized gains (losses) and impairments on our investments.
Amounts for 1Q 2025 consist of $3 million for board membership changes and $2 million for legal contingency accruals. Amounts for 4Q 2025 consist of a $19 million donation to the Illumina foundation.

Table 5: Reconciliation Between GAAP and Non-GAAP Results of Operations

unaudited

1Q 24 2Q 24 3Q 24 4Q 24

FY 24

Core Illumina GRAIL Eliminations Consolidated Core Illumina GRAIL Eliminations Consolidated Core Illumina GRAIL Eliminations Consolidated Core Illumina GRAIL Eliminations Consolidated Core Illumina GRAIL Eliminations Consolidated

$ 693 $ (21) $ (4) $ 667 $ 743 $ (16) $ (6) $ 721 $ 745 $ - $ - $ 745 $ 728 $ - $ - $ 728 $ 2,909 $ (38) $ (10) $ 2,861

15 34 - 49 15 31 - 46 16 - - 16 17 - - 17 63 65 - 128

- - - - - - - - - - - - - - - - 1 - - 1

$ 708 $ 12 $ (4) $ 716 $ 758 $ 15 $ (6) $ 767 $ 761 $ - $ - $ 761 $ 745 $ - $ - $ 745 $ 2,973 $ 27 $ (10) $ 2,990

241 $

- (1)

(3)

237 $

101 $

(3) $

339 $

- (1)

(3)

335 $

241 $

88 $

(4) $

325 $

253 $

(3)

(1)

249 $

$
-
-
-
$

$
-
-
-
$

253 $

(3)

(1)

249 $

256 $

(1)

255 $

$
-
-
-
$

$
-
-
-
$

256 $

(1)

255 $

988 $

(4)

(2)

982 $

189 $

(8) $

1,169

(4)

(2)

- 1,163

336 $

- (16)

(25)

(34)

104 $

(1)

- (6)

(1)

(1) $

439 $

(1)

(16)

(31)

(35)

60 $

- 271

(46)

(3)

88 $

(1)

- (3)

(1) $

147 $

(1)

271

(49)

(3)

239 $

- 49

(15)

(5)

- $

239 $

- 49

(15)

(5)

279 $

- 7

(15)

- $

279 $

- 7

(15)

(7) - - (7) (7) - - (7) - - - - - - - -

$ 254 $ 96 $ (1) $ 349 $ 275 $ 84 $ (1) $ 358 $ 268 $ - $ - $ 268 $ 271 $ - $ - $ 271 $

900 $

(1)

315

(87)

(58)

1,069 $

192 $

(2)

- (11)

(1)

178 $

$
-
-
-
-
-
$

1,092

(3)

315

(98)

(59)

- 1,247

- $

1,886 $

(1,466)

- $

1,886 $

(1,466)

- $

- - - - - (420) - (420) - - - - - - - -

$ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $

3 $

- (3)

- $

1,886 $

(1,466)

(420)

- $

$
-
-
$

1,889

(1,466)

(423)

(488) $

488

- $

(488) $

- - 488

18 $

(18)

- $

18 $

- - (18)

- $

(456) $

456

- $

(456)

456

116 $

218 $

(226) $

- 8

(185) $

$
-
-
-
-
-
$

(111) $

33 $

442 $

- (215)

242 $

(2,078) $

- 4

1,886

(157) $

(1) $

(1,637) $

- (211)

1,886

84 $

741 $

(29)

- (488)

244 $

$
-
-
-
-
-
$

$
-
-
-
-
-
$

741 $

(29)

- (488)

244 $

175 $

218 $

$
-
-
-
-
-
$

$
-
-
-
-
-
$

175 $

218 $

1,473 $

(168)

(456)

922 $

(2,305) $

- 13

1,886

- (341) $

(1) $

(833)

129

(155)

1,889

(456)

580

(1) $

(6)

(3)

(9) $

3 $

$
-
-
-
$

2 $

(6)

(3)

(6) $

(341) $

334

(8)

(13) $

2 $

$
-
-
-
$

(339) $

334

(8)

(11) $

(21) $

(4)

(1)

(14) $

$
-
-
-
$

$
-
-
-
$

(21) $

(4)

(1)

(14) $

13 $

(31)

(18) $

$
-
-
-
$

$
-
-
-
$

13 $

(31)

(18) $

(350) $

308

(15)

(55) $

5 $

(1) $

(346)

308

(15)

(51)

2024

‌(in millions)

GAAP gross profit (loss) (b)

Amortization of acquired intangible assets Restructuring (g)

Non-GAAP gross profit (a)

GAAP research and development expense Acquisition-related expenses (d) Restructuring (g)

IPR&D impairment (i)

Non-GAAP research and development expense

GAAP selling, general and administrative expense Amortization of acquired intangible assets Contingent consideration liabilities (c) Acquisition-related expenses (d)

Restructuring (g)

Accrued interest on EC fine (h)

Non-GAAP selling, general and administrative expense

GAAP goodwill and intangible impairment Goodwill impairment (i)

Intangible (IPR&D) impairment (i)

Non-GAAP goodwill and intangible impairment

GAAP legal contingency and settlement Legal contingency and settlement (h)

Non-GAAP legal contingency and settlement

GAAP operating profit (loss) Cost of revenue

Research and development costs Selling, general, and administrative costs Goodwill and intangible impairment Legal contingency and settlement

Non-GAAP operating profit (loss) (a)

GAAP other (expense) income, net

Strategic investment related gain (loss), net (e) Gain on Helix contingent value right (f) Acquisition-related expenses (d)

Non-GAAP other (expense) income, net (a)

Non-GAAP gross profit, included within non-GAAP operating profit (loss), is a key measure of the effectiveness and efficiency of manufacturing processes, product mix and the average selling prices of our products and services. Non-GAAP operating profit (loss) and non-GAAP other (expense) income, net exclude the effects of the pro forma adjustments as detailed above. Non-GAAP operating margin is a key component of the financial metrics utilized by the company's board of directors to measure, in part, management's performance and determine significant elements of management's compensation. Management has excluded the effects of these items in these measures to assist investors in analyzing and assessing past and future operating performance.
Reconciling amounts are recorded in cost of revenue.
Amounts consist primarily of fair value adjustments for our contingent consideration liability related to GRAIL.
Amounts consist primarily of legal and other expenses related to the acquisition and divestiture of GRAIL.
Amounts consist primarily of mark-to-market adjustments and impairments from our strategic investments.
Amounts consist of fair value adjustments related to our Helix contingent value right.
Amounts consist primarily of lease and other asset impairments, as well as employee severance costs, related to restructuring activities.
Amounts consist of accrued interest on the fine imposed by the European Commission and reversal of the accrued fine, including interest.
Amounts consist of goodwill and IPR&D intangible asset impairments related to GRAIL and an IPR&D intangible asset impairment related to Core Illumina.

‌Consolidated Reconciliation Between GAAP and Non-GAAP Tax Provision unaudited

2024

2025

2026

1Q24	2Q24	3Q24	4Q24	FY 24	1Q25	2Q25	3Q25	4Q25	FY 25	1Q26	2Q26	3Q26	FY 26
(15.3)%	(0.6)%	2.1 %	0.6 %	(3.8)%	27.9 %	23.4 %	31.8 %	11.6 %	21.7 %	14.8 %	20.5 %	16.4 %	17.6 %
$ 17	$ 12	$ 15	$ 1	$ 44	$ 51	$ 71	$ 70	$ 44	$ 236	$ 23	$ 53	$ 44	$ 120
13	104	59	23	201	(1)	(16)	(22)	17	(23)	24	(3)	19	40
-	(1)	(1)	(13)	(16)	(6)	(1)	(1)	(11)	(19)	(1)	2	1	1
(17)	(99)	(25)	51	(90)	-	-	-	-	-	-	-	-	-
$ 13	$ 16	$ 48	$ 62	$ 139	$ 44	$ 54	$ 47	$ 50	$ 194	$ 46	$ 52	$ 64	$ 161
46.4 %	22.3 %	21.0 %	31.1 %	26.3 %	22.0 %	22.2 %	18.6 %	19.5 %	20.5 %	20.5 %	20.5 %	20.5 %	20.5 %

(in millions, except percentages)

GAAP tax rate GAAP tax provision

Non-GAAP tax expense (b) Income tax provision (c)

GILTI, U.S. foreign tax credits, and global minimum top-up tax (d) Non-GAAP tax provision (a)

Non-GAAP tax rate (a)

The consolidated results include the results for GRAIL prior to the spin off on June 24, 2024.

Non-GAAP tax provision excludes the effects of the pro forma adjustments as detailed above, which have been excluded to assist investors in analyzing and assessing past and future operating performance.
Non-GAAP tax expense reflects the tax impact related to the non-GAAP adjustments listed in our "Reconciliation of GAAP and Non-GAAP Net Income (Loss) and Diluted Earnings (Loss) Per Share." For 3Q 2025 and YTD 2025, non-GAAP tax expense also includes a one-time $42 million valuation allowance adjustment recorded in 3Q 2025 against deferred tax assets associated with certain U.S. foreign tax credits as a result of the
U.S. tax legislation that was signed on July 4, 2025.
Amounts represent the difference between book and tax accounting related to stock-based compensation cost.
Amounts represent the impact of GRAIL pre-acquisition net operating losses on GILTI, the utilization of U.S. foreign tax credits, and the Pillar Two global minimum top-up tax, which no longer applies starting in 2025 since the GRAIL pre-acquisition net operating losses were fully utilized in prior years.

Condensed Consolidated Statements of Cash Flows

2024

2025

2026

1Q24	2Q24	3Q24	4Q24	FY 24	1Q25	2Q25	3Q25	4Q25	FY 25	1Q26	2Q26	3Q26	FY 26
$ 77	$ 80	$ 316	$ 364	$ 837	$ 240	$ 234	$ 284	$ 321	$ 1,079	$ 289	$ 201	$ 419	$ 909
(48)	(41)	(42)	(48)	(178)	(63)	(49)	(51)	108	(55)	(366)	(121)	50	(438)
35	(225)	(332)	(47)	(570)	(195)	(371)	(115)	(63)	(744)	(251)	(129)	(223)	(602)
(4)	(2)	7	(11)	(10)	4	7	(2)	2	11	(1)	-	3	2
60	(188)	(51)	258	79	(14)	(179)	116	368	291	(329)	(49)	249	(129)
1,048	1,108	920	869	1,048	1,127	1,113	934	1,050	1,127	1,418	1,089	1,040	1,418
$ 1,108	$ 920	$ 869	$ 1,127	$ 1,127	$ 1,113	$ 934	$ 1,050	$ 1,418	$ 1,418	$ 1,089	$ 1,040	$ 1,289	$ 1,289
$ 77	$ 80	$ 316	$ 364	$ 837	$ 240	$ 234	$ 284	$ 321	$ 1,079	$ 289	$ 201	$ 419	$ 909
(36)	(32)	(32)	(42)	(142)	(32)	(30)	(31)	(54)	(148)	(38)	(39)	(41)	(118)
$ 41	$ 48	$ 284	$ 322	$ 695	$ 208	$ 204	$ 253	$ 267	$ 931	$ 251	$ 162	$ 378	$ 791

unaudited unaudited unaudited

(in millions)

Net cash provided by operating activities

Net cash provided by (used in) investing activities Net cash provided by (used in) financing activities

Effect of exchange rate changes on cash and cash equivalents Net increase (decrease) in cash and cash equivalents

Cash and cash equivalents, beginning of period Cash and cash equivalents, end of period

Calculation of free cash flow:

Net cash provided by (used in) operating activities Purchases of property and equipment

Free cash flow (a)

The consolidated results include the results for GRAIL prior to the spin off on June 24, 2024.

Free cash flow, which is a non-GAAP financial measure, is calculated as net cash provided by operating activities reduced by purchases of property and equipment. Free cash flow is useful to management as it is one of the metrics used to evaluate our performance and to compare us with other companies in our industry. However, our calculation of free cash flow may not be comparable to similar measures used by other companies.

‌Core Illumina Reconciliation Between GAAP and Non-GAAP Tax Provision unaudited

2024

2025

2026

1Q24 2Q24 3Q24 4Q24	FY 24
39.3 % 35.0 % 10.8 % 37.9 %	20.4 %
$ 45 $ 35 $ 77 $ 70	$ 229
22 41 26 (15)	73
- (1) (1) (13)	(16)
(13) (20) (54) 5	(82)
$ 54 $ 55 $ 48 $ 47	$ 204
25.7 % 24.2 % 21.0 % 23.7 %	23.6 %

1Q25 2Q25 3Q25 4Q25	FY 25
27.9 % 23.4 % 31.8 % 11.6 %	21.7 %
$ 51 $ 71 $ 70 $ 44	$ 236
(1) (16) (22) 17	(23)
(6) (1) (1) (11)	(19)
- - - -	-
$ 44 $ 54 $ 47 $ 50	$ 194
22.0 % 22.2 % 18.6 % 19.5 %	20.5 %

1Q26 2Q26 3Q26	FY 26
14.8 % 20.5 % 16.4 %	17.6 %
$ 23 $ 53 $ 44	$ 120
24 (3) 19	40
(1) 2 1	1
- - -	-
$ 46 $ 52 $ 64	$ 161
20.5 % 20.5 % 20.5 %	20.5 %

(in millions, except percentages)

GAAP tax rate GAAP tax provision

Non-GAAP tax expense (b) Income tax provision (c)

GILTI, U.S. foreign tax credits, and global minimum top-up tax (d) Non-GAAP tax provision (a)

Non-GAAP tax rate (a)

Non-GAAP tax provision excludes the effects of the pro forma adjustments as detailed above. Management has excluded the effects of these items in this measure to assist investors in analyzing and assessing past and future operating performance.
Non-GAAP tax expense reflects the tax impact related to the non-GAAP adjustments listed in our "Reconciliation of GAAP and Non-GAAP Net Income and Diluted Earnings Per Share." For 3Q 2025 and YTD 2025, non-GAAP tax expense also includes a one-time $42 million valuation allowance adjustment recorded in 3Q 2025 against deferred tax assets associated with certain U.S. foreign tax credits as a result of the U.S. tax legislation that was signed on July 4, 2025.
Amounts represent the difference between book and tax accounting related to stock-based compensation cost.
Amounts represent the impact of GRAIL pre-acquisition net operating losses on GILTI, the utilization of U.S. foreign tax credits, and the Pillar Two global minimum top-up tax, which no longer applies starting in 2025 since the GRAIL pre-acquisition net operating losses were fully utilized in prior years.

2026

2025

2024

Core Illumina Free Cash Flows unaudited

1Q24	2Q24	3Q24	4Q24	FY 24
$ 284	$ 243	$ 316	$ 364	$ 1,207
(33)	(30)	(32)	(42)	(137)
$ 251	$ 213	$ 284	$ 322	$ 1,070

1Q25	2Q25	3Q25	4Q25	FY25
$ 240	$ 234	$ 284	$ 321	$ 1,079
(32)	(30)	(31)	(54)	(148)
$ 208	$ 204	$ 253	$ 267	$ 931

1Q26	2Q26	3Q26	FY26
$ 289	$ 201	$ 419	$ 909
(38)	(39)	(41)	(118)
$ 251	$ 162	$ 378	$ 791

(in millions)

Calculation of free cash flow:

Net cash provided by operating activities Purchases of property and equipment Free cash flow (a)

Free cash flow, which is a non-GAAP financial measure, is calculated as net cash provided by operating activities reduced by purchases of property and equipment. Free cash flow is useful to management as it is one of the metrics used to evaluate our performance and to compare us with other companies in our industry. However, our calculation of free cash flow may not be comparable to similar measures used by other companies.

‌Core Illumina - Revenue by Geographic Region

Revenue Excluding Tariff Refunds

2026

2025

2024

1Q24	2Q24	3Q24	4Q24	FY 24
$ 567	$ 604	$ 594	$ 572	$ 2,337
317	336	332	373	1,358
78	75	75	80	308
94	77	79	79	329
$ 1,056	$ 1,092	$ 1,080	$ 1,104	$ 4,332

1Q25	2Q25	3Q25	4Q25	FY 25
$ 555	$ 569	$ 596	$ 621	$ 2,341
332	355	354	394	1,435
72	63	52	55	242
82	72	82	89	325
$ 1,041	$ 1,059	$ 1,084	$ 1,159	$ 4,343

1Q26	2Q26	3Q26	FY 26
$ 590	$ 653	$ 637	$ 1,880
356	368	347	1,072
52	56	59	167
93	82	86	261
$ 1,091	$ 1,159	$ 1,129	$ 3,380

unaudited unaudited unaudited unaudited

3Q 26

3Q 26 Revenue

(in millions)

Tariff Refunds (c)

Excluding Tariff Refunds (c)

REVENUE BY GEOGRAPHIC REGION

USCAN EMEALA

GREATER CHINA (a) APAC

Total Revenue (b)

We implemented a new global commercial structure in Q1 2026 to improve operating efficiencies and better align with local markets. Beginning in Q1 2026, we began reporting regional results for: United States and Canada (USCAN), Europe, Middle East, Africa and Latin America (EMEALA), Greater China, and Asia-Pacific (APAC). Prior period amounts were reclassified to conform to this new presentation.

Region includes revenue from China, Taiwan, and Hong Kong.
Amounts include intercompany revenue between segments, which is eliminated in consolidation.
Revenue was negatively impacted in 3Q 26 due to customer refunds accrued as a result of the benefit from IEEPA tariff refunds we recognized in the quarter. Amounts show revenue impact by region.

$ (28) $ 665

(9) 356

- 59

- 86

$ (37) $ 1,166

Core Illumina Supplementary Data

unaudited

3Q 26 3Q 26 Revenue

Tariff Refunds (b) Excluding Tariff Refunds (b)

(28) $

(2) $

(30) $

792

871

(4) $

- (4)

106

109

(34) $

980

(3) $

158

186

(37) $

1,166

Revenue Excluding Tariff Refunds

2026

2025

2024

Revenue Excluding Tariff Refunds

2026

2025

2024

1Q 24 2Q 24 3Q 24 4Q 24	FY 24
$ 698 $ 737 $ 741 $ 698 71 78 66 81	$ 2,872 297
769 815 807 779	3,169
73 % 75 % 75 % 71 %	73 %
$ 110 $ 116 $ 104 $ 155	$ 484
4 4 3 5	17
114 120 107 160	501
11 % 11 % 10 % 14 %	12 %
$ 883 $ 935 $ 914 $ 939	$ 3,670
$ 151 $ 143 $ 150 $ 151	$ 597
22 14 16 14	65
$ 173 $ 157 $ 166 $ 165	$ 662
16 % 14 % 15 % 15 %	15 %
$ 1,056 $ 1,092 $ 1,080 $ 1,104	$ 4,332

1Q 25 2Q 25 3Q 25 4Q 25	FY 25
$ 696 $ 740 $ 747 $ 755 72 71 69 77	$ 2,939 288
768 811 816 832	3,227
74 % 77 % 75 % 72 %	74 %
$ 109 $ 96 $ 107 $ 154	$ 465
3 5 4 4	17
112 101 111 158	482
11 % 10 % 10 % 14 %	11 %
$ 880 $ 912 $ 927 $ 990	$ 3,709
$ 142 $ 136 $ 147 $ 157	$ 581
19 11 10 12	53
$ 161 $ 147 $ 157 $ 169	$ 634
15 % 14 % 14 % 15 %	15 %
$ 1,041 $ 1,059 $ 1,084 $ 1,159	$ 4,343

1Q 26 2Q 26 3Q 26	FY 26
$ 726 $ 775 $ 764 71 77 77	$ 2,265 225
797 852 841	2,490
73 % 74 % 74 %	74 %
$ 118 $ 125 $ 102	$ 345
2 5 3	10
120 130 105	355
11 % 11 % 9 %	11 %
$ 917 $ 982 $ 946	$ 2,845
$ 151 $ 154 $ 155	$ 461
23 23 28	74
$ 174 $ 177 $ 183	$ 535
16 % 15 % 16 %	16 %
$ 1,091 $ 1,159 $ 1,129	$ 3,380

‌(in millions, except percentages) CONSUMABLES

Sequencing Consumables Microarrays Consumables

Total Consumables

% Revenue

INSTRUMENTS

Sequencing Instruments Microarrays Instruments

Total Instruments

% Revenue

TOTAL PRODUCT REVENUE SERVICE & OTHER

Sequencing Microarrays

Total Service & Other

% Revenue

TOTAL REVENUE (a)

1Q 24 2Q 24 3Q 24 4Q 24	FY 24
$ 698 $ 737 $ 741 $ 698	$ 2,872
110 116 104 155	484
151 143 150 151	597
$ 959 $ 996 $ 995 $ 1,004	$ 3,953
91 % 91 % 92 % 91 %	91 %
$ 71 $ 78 $ 66 $ 81	$ 297
4 4 3 5	17
22 14 16 14	65
$ 97 $ 96 $ 85 $ 100	$ 379
9 % 9 % 8 % 9 %	9 %

1Q 25 2Q 25 3Q 25 4Q 25	FY 25
$ 696 $ 740 $ 747 $ 755	$ 2,939
109 96 107 154	465
142 136 147 157	581
$ 947 $ 972 $ 1,001 $ 1,066	$ 3,985
91 % 92 % 92 % 92 %	92 %
$ 72 $ 71 $ 69 $ 77	$ 288
3 5 4 4	17
19 11 10 12	53
$ 94 $ 87 $ 83 $ 93	$ 358
9 % 8 % 8 % 8 %	8 %

1Q 26 2Q 26 3Q 26	FY 26
$ 726 $ 775 $ 764	$ 2,265
118 125 102	345
151 154 155	461
$ 995 $ 1,054 $ 1,021	$ 3,071
91 % 91 % 90 %	91 %
$ 71 $ 77 $ 77	$ 225
2 5 3	10
23 23 28	74
$ 96 $ 105 $ 108	$ 309
9 % 9 % 10 %	9 %

unaudited unaudited unaudited unaudited

3Q 26 3Q 26 Revenue

(in millions, except percentages)

Tariff Refunds (b)

Excluding Tariff Refunds (b)

SEQUENCING

Consumables Instruments Service & Other

Total Sequencing

% Revenue

MICROARRAYS

Consumables Instruments Service & Other

Total Microarrays

% Revenue

$ (28) $ 792

(4) 106

(3) 158

$ (35) $ 1,056

(2) 79

- 3

- 28

$ (2) $ 110

Amounts include intercompany revenue between segments, which is eliminated in consolidation.
Revenue was negatively impacted in 3Q 26 due to customer refunds accrued as a result of the benefit from IEEPA tariff refunds we recognized in the quarter. Amounts show revenue impact by product category.

ILMN Q3'26 Earnings Supplement

Summary by 6ix AI

Key details

Earlier from Illumina