Illumina said YTD 2026 revenue rose 7% to $2,251 million (YTD 2025: $2,100 million), and operating margin was 20.2% (YTD 2025: 18.0%). The company cited higher consumables and instruments demand tied to NovaSeq X, and service and other revenue from SomaLogic, as drivers of the revenue increase.

1. 01

   Illumina said YTD 2026 revenue rose 7% to $2,251 million (YTD 2025: $2,100 million), and operating margin was 20.2% (YTD 2025: 18.0%). The company cited higher consumables and instruments demand tied to NovaSeq X, and service and other revenue from SomaLogic, as drivers of the revenue increase.

2. 02

   Illumina said YTD 2026 gross margin was 66.2%, up from 65.6% in YTD 2025. The company attributed the increase to a $23 million intangible asset impairment recognized in Q2 2025. It said that excluding this impact, gross margin declined due to higher tariff costs, a greater sales mix of lower-margin instruments, the addition of SomaLogic revenue, and higher memory chip and freight costs.

3. 03

   Illumina acquired SomaLogic on January 30, 2026 for a total purchase price of $460 million, including $382 million in cash and contingent consideration with an estimated fair value of $81 million, offset by $3 million for the settlement of a preexisting relationship. The company said it paid $25 million in Q2 2026 for the 2025 performance-period milestone and paid $30 million to buy out the remaining obligations on July 27, 2026.

4. 04

   Illumina said net cash provided by operating activities was $490 million in YTD 2026, net cash used in investing activities was $488 million, and net cash used in financing activities was $380 million. Financing included $370 million in share repurchases, inclusive of excise taxes paid. Cash and cash equivalents were $1,040 million as of June 28, 2026.

Key figures

Quarter ended June 28, 2026

Revenue

$1.2B

Operating income

$245M

Net income

$207M

EPS

$1.35

Gross profit

$770M

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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