Illumina said YTD 2026 revenue rose 6% from $3,184 million a year earlier to $3,380 million, and operating margin was 22.5% (19.0% in YTD 2025). The company cited higher consumables and instruments revenue tied to demand for its NovaSeq X instrument as the driver of the revenue increase.

10-QQuarterly reportFiled Oct 30, 2026Period of report Sep 27, 2026Summary published (UTC) Oct 30, 2026

Key points

AI summary

Illumina said YTD 2026 revenue rose 6% from $3,184 million a year earlier to $3,380 million, and operating margin was 22.5% (19.0% in YTD 2025). The company cited higher consumables and instruments revenue tied to demand for its NovaSeq X instrument as the driver of the revenue increase.
Illumina said it reduced cost of revenue by $79 million for expected tariff recoveries in YTD 2026, and cut revenue by $37 million for the amount it expects to refund to customers, recognizing a net $42 million benefit in Q3 2026. Gross margin was 68.7% in YTD 2026 (66.3% in YTD 2025).
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 the settlement of a preexisting relationship. The company said it paid $25 million under the arrangements in Q2 2026 and $30 million to buy out the obligations early in Q3 2026, and that no obligations remained as of September 27, 2026.
Illumina said net cash provided by operating activities was $909 million in YTD 2026. It used financing cash to repay $500 million of its 2026 Term Notes and $379 million to repurchase common stock, inclusive of excise taxes. The company said net proceeds from its 2029 Term Notes were $297 million, and cash and cash equivalents were $1,289 million as of September 27, 2026.

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.

YTD 2026 revenue of $3,380 million, operating margin of 22.5%

Illumina said YTD 2026 revenue rose 6% from $3,184 million a year earlier to $3,380 million, and operating margin was 22.5% (19.0% in YTD 2025). The company cited higher consumables and instruments revenue tied to demand for its NovaSeq X instrument as the driver of the revenue increase.

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

IEEPA Tariff Refunds and Gross Margin

Illumina said it reduced cost of revenue by $79 million for expected tariff recoveries in YTD 2026, and cut revenue by $37 million for the amount it expects to refund to customers, recognizing a net $42 million benefit in Q3 2026. Gross margin was 68.7% in YTD 2026 (66.3% in YTD 2025).

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

SomaLogic Acquisition Total Consideration $460 million

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 the settlement of a preexisting relationship. The company said it paid $25 million under the arrangements in Q2 2026 and $30 million to buy out the obligations early in Q3 2026, and that no obligations remained as of September 27, 2026.

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

YTD 2026 Operating Cash Flow and Cash Uses

Illumina said net cash provided by operating activities was $909 million in YTD 2026. It used financing cash to repay $500 million of its 2026 Term Notes and $379 million to repurchase common stock, inclusive of excise taxes. The company said net proceeds from its 2029 Term Notes were $297 million, and cash and cash equivalents were $1,289 million as of September 27, 2026.

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

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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.

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