ILMN

MKT CAP:$20B

Illumina, Inc.

Market Cap

$20B

Healthcare·Medical - Diagnostics & Research·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$125.44-$8.91 (-6.63%)

Apr 23, 2026

Company Details

Illumina, Inc. provides sequencing and array-based solutions for genetic and genomic analysis. Its products and services serve customers in a range of markets enabling the adoption of genomic solutions in research and clinical settings for ...

CEO

Jacob Thaysen

IPO Date

Jul 28, 2000

Website

www.illumina.com

Key Metrics TTM

Revenue

$4.4B

-1.3% YoY

Net Income

$802M

EPS (Diluted)

$5.12

Free Cash Flow

$1.1B

Revenue / Share

$28.49

Gross Margin

66.6%

Operating Margin

19.4%

Net Margin

18.3%

FCF Margin

24.2%

P/S

4.5x

P/E

24.4x

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Feb 11, 2026

$4.3B-0.7%EPS $5.44

Q4 2025

Feb 11, 2026

$1.2B+5.0%EPS $2.16

Q3 2025

Oct 31, 2025

$1.1B+0.3%EPS $0.97

Q1 2025

May 8, 2025

$1.0B-3.3%EPS $0.82

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 21	$1.1B	$764M	$193M
Q3 21	$1.1B	$770M	-$545M
Q4 21	$1.2B	$817M	$41M
Q1 22	$1.2B	$815M	$184M
Q2 22	$1.2B	$767M	-$579M
Q3 22	$1.1B	$717M	-$3.7B
Q4 22	$1.1B	$672M	-$127M
Q1 23	$1.1B	$655M	-$64M
Q2 23	$1.2B	$732M	-$88M
Q1 24	$1.1B	$667M	-$111M
Q2 24	$1.1B	$721M	-$1.6B
Q3 24	$1.1B	$745M	$741M
Q4 24	$1.1B	$728M	$202M
Q1 25	$1.0B	$683M	$164M
Q3 25	$1.1B	$732M	$231M
Q4 25	$1.2B	$777M	$256M

Valuation

Quarter	P/S	P/E
Q1 21	5.6x	31.0x
Q3 21	4.9x	21.7x
Q4 21	4.5x	23.5x
Q1 22	4.2x	29.5x
Q2 22	4.2x	—
Q3 22	4.2x	—
Q4 22	4.3x	—
Q1 23	4.4x	—
Q2 23	4.4x	—
Q1 24	4.4x	—
Q2 24	4.4x	—
Q3 24	4.4x	—
Q4 24	4.5x	—
Q1 25	4.5x	—
Q3 25	4.5x	16.7x
Q4 25	4.5x	24.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 21	$282M	$240M
Q3 21	-$272M	-$324M
Q4 21	$282M	$212M
Q1 22	$172M	$111M
Q2 22	$125M	$54M
Q3 22	-$52M	-$298M
Q4 22	$147M	$59M
Q1 23	$10M	-$42M
Q2 23	$105M	$58M
Q1 24	$77M	$41M
Q2 24	$80M	$49M
Q3 24	$316M	$284M
Q4 24	$364M	$335M
Q1 25	$240M	$201M
Q3 25	$284M	$260M
Q4 25	$321M	$267M

Capital Expenditures

Quarter	CapEx
Q1 21	$42M
Q3 21	$52M
Q4 21	$70M
Q1 22	$61M
Q2 22	$71M
Q3 22	$246M
Q4 22	$88M
Q1 23	$52M
Q2 23	$47M
Q1 24	$36M
Q2 24	$31M
Q3 24	$32M
Q4 24	$29M
Q1 25	$39M
Q3 25	$24M
Q4 25	$54M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+27.2%	+34.3%
Q3 21	+75.0%	+207.8%
Q4 21	+51.0%	+83.2%
Q1 22	+28.3%	+26.7%
Q2 22	+6.3%	+93.4%
Q3 22	+0.6%	+188.7%
Q4 22	-9.7%	+4.5%
Q1 23	-11.1%	+10.8%
Q2 23	+1.2%	-27.4%
Q1 24	-3.5%	-75.1%
Q2 24	+2.7%	+127.2%
Q3 24	-0.6%	-70.5%
Q4 24	-6.1%	-28.6%
Q1 25	-3.3%	-26.1%
Q3 25	-2.6%	-69.0%
Q4 25	+7.3%	+166.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 21	$67M	6.1%
Q3 21	$509M	45.9%
Q4 21	$98M	8.2%
Q1 22	$92M	7.5%
Q2 22	$91M	7.8%
Q3 22	$83M	7.4%
Q4 22	$100M	9.2%
Q1 23	$93M	8.6%
Q2 23	$106M	9.0%
Q1 24	$96M	8.9%
Q2 24	$112M	10.1%
Q3 24	$83M	7.7%
Q4 24	$79M	7.2%
Q1 25	$73M	7.0%
Q3 25	$70M	6.5%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q1 21	$197M	$374M
Q3 21	$436M	$879M
Q4 21	$350M	$426M
Q1 22	$323M	$308M
Q2 22	$327M	$410M
Q3 22	$325M	$146M
Q4 22	$346M	$432M
Q1 23	$341M	$378M
Q2 23	$358M	$462M
Q1 24	$338M	$439M
Q2 24	$325M	$147M
Q3 24	$253M	$239M
Q4 24	$255M	$271M
Q1 25	$252M	$267M
Q3 25	$228M	$256M
Q4 25	$239M	$283M

Revenue Segments

Quarter	Microarray	Sequencing
Q1 21	$114M	$979M
Q3 21	$93M	$1.0B
Q1 22	$114M	$1.1B
Q2 22	$97M	$1.1B
Q3 22	$100M	$1.0B
Q1 23	$111M	$976M
Q2 23	$93M	$1.1B
Q1 24	$97M	$979M
Q3 24	$85M	$995M
Q1 25	$94M	$947M
Q3 25	$83M	$1.0B
Q4 25	$94M	$1.1B

Revenue by Geography

Quarter	Americas	Asia Pacific	China	Emea
Q1 21	$562M	$99M	$127M	$305M
Q3 21	$583M	$90M	$122M	$313M
Q1 22	$648M	$132M	$127M	$316M
Q2 22	$639M	$97M	$118M	$308M
Q3 22	$597M	$95M	$133M	$290M
Q1 23	$616M	$119M	$91M	$261M
Q2 23	$640M	$118M	$115M	$303M
Q1 24	$603M	$116M	$78M	$279M
Q2 24	$640M	$108M	$75M	$289M
Q3 24	$609M	$105M	$75M	$291M
Q4 24	$589M	$109M	$80M	$326M
Q1 25	$570M	$106M	$72M	$293M
Q3 25	$612M	$111M	$52M	$309M
Q4 25	$638M	$113M	$56M	$352M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.4B	$65M	$1.4B
Q2 22	$1.3B	$38M	$1.3B
Q3 22	$1.0B	$41M	$1.0B
Q4 22	$2.0B	$26M	$2.0B
Q1 23	$1.5B	$24M	$1.5B
Q2 23	$1.6B	$6M	$1.6B
Q3 23	$927M	$6M	$933M
Q4 23	$1.0B	$6M	$1.1B
Q1 24	$1.1B	$7M	$1.1B
Q2 24	$920M	$74M	$994M
Q3 24	$869M	$70M	$939M
Q4 24	$1.1B	$93M	$1.2B
Q1 25	$1.1B	$124M	$1.2B
Q2 25	$934M	$221M	$1.2B
Q3 25	$1.1B	$228M	$1.3B
Q4 25	$1.4B	$215M	$1.6B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 21	147M	0.0%	-0.7%
Q3 21	153M	+4.1%	+3.4%
Q4 21	157M	+2.6%	+6.1%
Q1 22	159M	+1.3%	+8.2%
Q2 22	157M	-1.3%	+6.8%
Q3 22	157M	0.0%	+2.6%
Q4 22	158M	+0.6%	+0.6%
Q1 23	158M	0.0%	-0.6%
Q2 23	158M	0.0%	+0.6%
Q1 24	159M	+0.6%	+1.3%
Q2 24	159M	0.0%	+0.6%
Q3 24	160M	+0.6%	+1.3%
Q4 24	160M	0.0%	+1.3%
Q1 25	159M	-0.6%	0.0%
Q3 25	157M	-1.3%	-1.3%
Q4 25	154M	-1.9%	-3.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 21	$140.1K	8K
Q3 21	$142.1K	8K
Q4 21	$153.7K	8K
Q1 22	$134.4K	9K
Q2 22	$127.7K	9K
Q3 22	$122.5K	9K
Q4 22	$119.0K	9K
Q1 23	$106.6K	10K
Q2 23	$115.3K	10K
Q1 24	$116.3K	9K
Q2 24	$120.2K	9K
Q3 24	$116.8K	9K
Q4 24	$123.1K	9K
Q1 25	$116.1K	9K
Q3 25	$120.7K	9K
Q4 25	$134.8K	9K

Revenue / Employee