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Analyst Conference Summary
Illumina
ILMN
conference date: February 6, 2025 @ 1:30 PM Pacific Time
for quarter ending: December 30, 2024 (fourth quarter, Q4 2024)
Overview:
Basic data (GAAP):
Revenue was $ billion, down % sequentially from $1.08 billion and also down % from $ billion in the year-earlier quarter.
Net income was $ million, up sequentially from $642 million, and up from negative $ million year-earlier.
Diluted EPS was $, up sequentially from $4.42, and up from negative $ year-earlier.
Guidance:
Conference Highlights:
Jacob Thaysen, CEO, said "" Has a three year plan to accelerate revenue growth and expand margins.
On June 24, 2024 Illumina divested GRAIL. Illumina retains a 14.5% stake in Grail. The rest of the Grail stock was distributed to Illumina stockholders.
Product revenue was $ million, services $ million. $ million of the product revenue was for consumables.
Illumina shipped NovaSeq X instruments in Q4 2024. [NovaSeq X is the most power and expensive of its sequencers.] Expected to ship fewer high-throughput devices in 2024 than in 2023.
In Q3 2024, Illumina introduced the MiSeq i100 Series, its simplest, fastest benchtop sequencer.
Non-GAAP numbers: net income $ million, up sequentially from $181 million, and up from $ million year-earlier. Diluted EPS was $, up sequentially from $1.14, and up from $ year-earlier.
Cash, equivalents and investment balance was $ million, down sequentialy from $939 million. No long term debt. Cash flow from operations was $ million. Free cash flow was $ million. Capital expenditures were $ million. Cash used to repurchase stock was $0 million. $0 million was used to pay down debt.
GAAP cost of revenue was $ million, leaving gross profit of $ million. Operating expenses were $ billion, consisting of: $ million for research and development; $ million for selling, general, and administrative; $ million income from legal settlement. Leaving income from operations of $ million. Other expense was $ million. Income tax $ million.
Q&A selective summary:
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Disclaimer: My analyst call summaries may include both condensations of statements made by company representatives and my own analysis. They are not covered by any warranty. I cannot guarantee anything said by company representatives is true. I try not to make errors, but it is possible. This is journalism, not advice.
Copyright 2025 William P. Meyers