Illumina said revenue for Q1 2025 was $1,041 million, down 3% from $1,076 million in Q1 2024. The company cited the decrease in service and other revenue from the GRAIL Spin-Off and the decrease in Core Illumina strategic partnership revenue as primary factors.

10-QQuarterly reportFiled May 9, 2025Period of report Mar 30, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Illumina said revenue for Q1 2025 was $1,041 million, down 3% from $1,076 million in Q1 2024. The company cited the decrease in service and other revenue from the GRAIL Spin-Off and the decrease in Core Illumina strategic partnership revenue as primary factors.
Illumina said income from operations for Q1 2025 was $164 million, compared to a loss from operations of $(111) million in Q1 2024. Gross margin was 65.6% for Q1 2024, compared to 62.0% in Q2 2024, and the company cited the GRAIL Spin-Off as a driver of the increase.
Illumina said the estimated cost impact of tariffs enacted in April 2025 is approximately $85 million, with the largest portion relating to imports from its manufacturing facility in Singapore. The company also said it was added to the unreliable entities list by regulatory authorities in China in Q1 2025 and received notice that it is not permitted to export sequencing instruments into China.
Illumina said net cash provided by operating activities for Q1 2025 was $240 million and it used $200 million to repurchase common stock. As of March 30, 2025, $1.2 billion remained available under the share repurchase authorization, and cash and cash equivalents were $1,113 million.

Key figures

Quarter ended March 30, 2025

Revenue: $1.0B
Operating income: $164M
Net income: $131M
EPS: $0.82
Gross profit: $683M
Operating cash flow: $240M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

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.

Q1 2025 Revenue $1,041 million

Illumina said revenue for Q1 2025 was $1,041 million, down 3% from $1,076 million in Q1 2024. The company cited the decrease in service and other revenue from the GRAIL Spin-Off and the decrease in Core Illumina strategic partnership revenue as primary factors.

Source · Based on the MD&A text of the filing

Operating Income Swing and Gross Margin 65.6%

Illumina said income from operations for Q1 2025 was $164 million, compared to a loss from operations of $(111) million in Q1 2024. Gross margin was 65.6% for Q1 2024, compared to 62.0% in Q2 2024, and the company cited the GRAIL Spin-Off as a driver of the increase.

Source · Based on the MD&A text of the filing

Estimated Tariff Cost and China Export Restrictions

Illumina said the estimated cost impact of tariffs enacted in April 2025 is approximately $85 million, with the largest portion relating to imports from its manufacturing facility in Singapore. The company also said it was added to the unreliable entities list by regulatory authorities in China in Q1 2025 and received notice that it is not permitted to export sequencing instruments into China.

Source · Based on the MD&A text of the filing

Q1 Operating Cash Flow and Share Repurchases

Illumina said net cash provided by operating activities for Q1 2025 was $240 million and it used $200 million to repurchase common stock. As of March 30, 2025, $1.2 billion remained available under the share repurchase authorization, and cash and cash equivalents were $1,113 million.

Source · Based on the MD&A text of the filing

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

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