Illumina ( (ILMN) ) has released its Q2 earnings. Here is a breakdown of the information Illumina presented to its investors.
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Illumina, Inc. is a global leader in DNA sequencing and array-based technologies, serving the research, clinical, and applied markets with innovative genomic solutions. The company is recognized for its focus on improving human health by unlocking the power of the genome.
In its latest earnings report for the second quarter of fiscal year 2025, Illumina announced a revenue of $1.06 billion, marking a 3% decline from the same quarter in the previous year. Despite the revenue dip, the company reported a GAAP operating margin of 20.2% and a non-GAAP operating margin of 23.8%, with a GAAP diluted EPS of $1.49 and a non-GAAP diluted EPS of $1.19.
Key financial highlights include cash provided by operations amounting to $234 million and a free cash flow of $204 million. The company also repurchased approximately 4.5 million shares for $380 million. Strategically, Illumina entered into an agreement to acquire SomaLogic, with the transaction expected to close in the first half of 2026, pending regulatory approval. Additionally, Illumina launched several new products and received recognition for sustainability and workplace excellence.
Looking ahead, Illumina has adjusted its fiscal year 2025 guidance, anticipating a constant currency revenue decline between 2.5% and 0.5%, an improvement from previous estimates. The company also expects a non-GAAP operating margin of approximately 22% to 22.5% and a non-GAAP diluted EPS in the range of $4.45 to $4.55, reflecting a positive outlook despite current challenges.
Illumina’s management remains optimistic about the future, emphasizing operational excellence and strategic initiatives to navigate the constrained funding environment and drive growth in key segments.