Illumina said Core Illumina revenue for Q3 2024 was $1,080 million, down 2% from $1,106 million in the year-earlier period. The company said its GAAP operating margin was 68.6% and its non-GAAP operating margin was 22.6%.

1. 01

   Illumina said Core Illumina revenue for Q3 2024 was $1,080 million, down 2% from $1,106 million in the year-earlier period. The company said its GAAP operating margin was 68.6% and its non-GAAP operating margin was 22.6%.

2. 02

   The company reported GAAP operating profit for Core Illumina of $741 million for Q3, with legal contingency and settlement items of $(488) million. The company attributed these items mainly to an EC fine (European Commission fine) and a reversal of accrued interest, and said they are excluded from non-GAAP results.

3. 03

   Illumina said operating cash flow for Q3 2024 was $316 million, compared with $139 million in the prior-year period. Free cash flow was $284 million, compared with $94 million a year earlier, and cash, cash equivalents and short-term investments at quarter-end were $939 million.

4. 04

   The company lowered its 2024 fiscal-year Core Illumina revenue outlook to a decline of about 3% from the prior year, and expects Core Illumina revenue of about $1.07 billion for Q4. It also raised its non-GAAP operating margin outlook to 21% to 21.5% and its non-GAAP diluted EPS outlook to $4.05 to $4.15.

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Original filing

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