Illumina said revenue in Q1 2026 increased 5% to $1,091 million, compared with $1,041 million in Q1 2025, and operating margin was 19.2%, compared with 15.8% in Q1 2025. The company cited increases in sequencing consumables and instruments related to demand for its NovaSeq X instrument as factors in the revenue increase.

1. 01

   Illumina said revenue in Q1 2026 increased 5% to $1,091 million, compared with $1,041 million in Q1 2025, and operating margin was 19.2%, compared with 15.8% in Q1 2025. The company cited increases in sequencing consumables and instruments related to demand for its NovaSeq X instrument as factors in the revenue increase.

2. 02

   Illumina said gross margin in Q1 2026 was 66.1%, compared with 65.6% in Q1 2025, and income from operations was $209 million, compared with $164 million in Q1 2025. The company cited a decrease in restructuring charges of $28 million as the primary factor in the $7 million decrease in operating expense.

3. 03

   Illumina said it acquired SomaLogic on January 30, 2026 for a total purchase price of $460 million, including cash of $382 million and contingent consideration with an estimated fair value of $81 million, offset by $3 million for settlement of a preexisting relationship.

4. 04

   Illumina said net cash provided by operating activities in Q1 2026 was $289 million and it used $242 million to repurchase common stock. The company said its Board of Directors authorized a 2026 Repurchase Program on April 28, 2026 to repurchase up to $1.5 billion of outstanding common stock.

Key figures

Quarter ended March 29, 2026

Revenue

$1.1B

Operating income

$209M

Net income

$134M

EPS

$0.87

Gross profit

$721M

Operating cash flow

$289M

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

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