Analyst Conference Summary

conference date: October 29, 2026 @ 1:30 PM Pacific Time
for quarter ending: September 30, 2026 (third quarter, Q3 2026)

Forward-looking statements

Overview:

Basic data (GAAP):

Revenue was $ billion, up % sequentially from $1.16 billion and up % from $ billion in the year-earlier quarter.

Net income was $ million, up % sequentially from $207 million, and down % from $ million year-earlier.

Diluted EPS was $, up % sequentially from $1.35, and down % from $ year-earlier.

Guidance:

Conference Highlights:

Jacob Thaysen, CEO, said ""

Sales in China were up to $ million. China lifted the export ban on Illumina sequencers in Q4, but approvals are still required for instrument purchases. Rest of world growth was % and was broad based.

Expects a return to growth in research and academic markets as funding returns.

In Q2 new whole genome workflow was launched. Lowers costs, runs on NovaSeq. Expanding multinomics platform. Proteonomics acquisitions are proving attractive to customers.

Product revenue was $ million, services $ million. $ million of the product revenue was for instruments, $ million was for consumables, up % y/y. $ million other revenue.

Illumina shipped > NovaSeq X instruments in Q3 2026. [NovaSeq X is the most powerful and expensive of its sequencers.] New high-volume applications are being built for NovaSeq X.

Non-GAAP numbers: net income $ million, up % sequentially from $ million, and up % from $ million year-earlier. Diluted EPS was $, up % sequentially from $1.31, and up % from $ year-earlier.

Cash, equivalents and investment balance was $ billion, down sequentialy from $1.17 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 administration. Leaving income from operations of $ million. Other income was $ million. Income tax $ million.

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