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Analyst Conference Summary
Illumina
ILMN
conference date: July 30, 2026 @ 1:30 PM Pacific Time
for quarter ending: June 30, 2026 (second quarter, Q2 2026)
Overview: Modest growth rate,
Basic data (GAAP):
Revenue was $ billion, down % sequentially from $1.09 billion and up % from $ billion in the year-earlier quarter.
Net income was $ million, down % sequentially from $134 million, and up % from $ million year-earlier.
Diluted EPS was $, down % sequentially from $0.87, and up % from $ year-earlier.
Guidance:
Conference Highlights:
Jacob Thaysen, CEO, said ""
Sales in China were just $ million. China lifted the export ban on Illumina sequencers in Q4, but approvals are still required for instrument purchases.
Expects a return to growth in research and academic markets as funding returns.
Product revenue was $ million, services $ million. $ million of the product revenue was for instruments, $726 was for consumables.
Illumina shipped > NovaSeq X instruments in Q2 2026. [NovaSeq X is the most powerful and expensive of its sequencers.] New high-volume applications are being built for NovaSeq X. % of clinical volume is now on the X.
Non-GAAP numbers: net income $ million, up % sequentially from $na million, and up % from $na million year-earlier. Diluted EPS was $, down % sequentially from $1.15, and up % from $ year-earlier.
Cash, equivalents and investment balance was $ billion, down sequentialy from $1.15 billion. $1.49 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 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 2026 William P. Meyers