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Analyst Conference Summary
Illumina
ILMN
conference date: July 31, 2025 @ 1:30 PM Pacific Time
for quarter ending: June 30, 2025 (second quarter, Q2 2025)
Overview:
Basic data (GAAP):
Revenue was $ billion, down % sequentially from $1.04 billion and down % from $ billion in the year-earlier quarter.
Net income was $ million, down % sequentially from $131 million, and % up from $ million year-earlier.
Diluted EPS was $, down % sequentially from $0.82, and up % from $ year-earlier.
Guidance:
Conference Highlights:
Jacob Thaysen, CEO, said ""
Product revenue was $ million, services $ million. $ million of the product revenue was for instruments, $ was for consumables.
Illumina shipped > NovaSeq X instruments in Q2 2025. [NovaSeq X is the most powerful and expensive of its sequencers.] Installed base ended at systems. MiSeq i100 sales were over .
In 2025 will launch a new single-cell product for CRISPR. In 2026 will launch a spatial assay with larger capture area and greater resolution. The proteomics solution should launch in 1H 2025.
Non-GAAP numbers: net income $ million, up % sequentially from $154 million, and down % from $ million year-earlier. Diluted EPS was $, up % sequentially from $0.97, and down % from $ year-earlier.
Cash, equivalents and investment balance was $ billion, up sequentialy from $1.24 billion. $ billion term debt. Cash flow from operations was $ million. Free cash flow was $ million. Capital expenditures were $ million. Cash used to repurchase stock was $ million.
GAAP cost of revenue was $ million, leaving gross profit of $ million. Operating expenses were $ million, consisting of: $ million for research and development; $ million for selling, general, and administrative. Leaving income from operations of $ million. Other income was $ million. Income tax $ million.
On June 24, 2024 Illumina divested GRAIL. Illumina retains a 14.5% stake in Grail.
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