The company said revenue for 2023 fell 2% to $4.5 billion from 2022 $4.6 billion. It said the decline in sequencing consumables and sequencing instruments revenue was partially offset by an increase in service and other revenue.

1. 01

   The company said revenue for 2023 fell 2% to $4.5 billion from 2022 $4.6 billion. It said the decline in sequencing consumables and sequencing instruments revenue was partially offset by an increase in service and other revenue.

2. 02

   Illumina said its gross margin was 60.9% in 2023, down from 64.8% in 2022. The company cited less fixed cost leverage on lower manufacturing volumes and lower instrument margins due to the NovaSeq X launch as factors.

3. 03

   The company said its loss from operations narrowed to $(1.1) billion in 2023 from $(4.2) billion in 2022. It said operating expenses fell by $3.3 billion, including decreases in goodwill and intangible impairment of $3.1 billion and legal contingency and settlement of $599 million.

4. 04

   The company announced on December 17, 2023 that it will divest GRAIL and said it aims to finalize the terms of the divestiture by the end of Q2 2024. The company said it ended 2023 with cash, cash equivalents, and short-term investments totaling $1.1 billion.

Key figures

Fiscal year ended December 31, 2023

Revenue

$4.5B

Operating income

−$1.1B

Net income

−$1.2B

EPS

−$7.34

Gross profit

$2.7B

Operating cash flow

$478M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.