The company said Core Illumina revenue for Q2 2024 was $1.09 billion, down 6% from Q2 2023 (down 6% on a constant currency basis) and up 3% from Q1 2024.

1. 01

   The company said Core Illumina revenue for Q2 2024 was $1.09 billion, down 6% from Q2 2023 (down 6% on a constant currency basis) and up 3% from Q1 2024.

2. 02

   Illumina said it spun off GRAIL into a new public company on June 24, 2024. It also said it recognized a goodwill impairment of $1,466 million and an IPR&D intangible asset impairment of $420 million related to the GRAIL segment in Q2. Consolidated GAAP operating loss for Q2 was $(1,637) million.

3. 03

   The company said net cash provided by operating activities for Q2 was $80 million, free cash flow was $48 million (compared with $58 million in the prior-year period), and cash, cash equivalents and short-term investments at the end of the quarter totaled $994 million.

4. 04

   Illumina said it lowered its Core Illumina revenue guidance for fiscal 2024 to a decline of 2% to 3% compared with fiscal 2023, raised its Core Illumina non-GAAP operating margin guidance to a range of 20.5% to 21%, and introduced non-GAAP diluted EPS guidance of $3.80 to $3.95.

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Original filing

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