Illumina, Inc., a global leader in DNA sequencing and array-based technologies, reported its financial results for the second quarter ended June 30, 2024. The company announced a decrease in Core Illumina revenue by 6% from Q2 2023, with a reported revenue of $1.09 billion for Q2 2024. Despite the revenue decline, the company achieved a GAAP operating margin of 40.5% and a non-GAAP operating margin of 22.2% for the quarter. GAAP diluted earnings per share were $0.41, while non-GAAP diluted earnings per share stood at $1.09. Illumina also revised its fiscal year 2024 revenue guidance, expecting a decline of 2% to 3% from 2023, but raised its non-GAAP operating margin guidance to a range of 20.5% to 21%. Additionally, the company introduced guidance for Core Illumina non-GAAP diluted earnings per share in the...Show More

Illumina, Inc., a global leader in DNA sequencing and array-based technologies, reported its financial results for the second quarter ended June 30, 2024. The company announced a decrease in Core Illumina revenue by 6% from Q2 2023, with a reported revenue of $1.09 billion for Q2 2024. Despite the revenue decline, the company achieved a GAAP operating margin of 40.5% and a non-GAAP operating margin of 22.2% for the quarter. GAAP diluted earnings per share were $0.41, while non-GAAP diluted earnings per share stood at $1.09. Illumina also revised its fiscal year 2024 revenue guidance, expecting a decline of 2% to 3% from 2023, but raised its non-GAAP operating margin guidance to a range of 20.5% to 21%. Additionally, the company introduced guidance for Core Illumina non-GAAP diluted earnings per share in the range of $3.80 to $3.95 for fiscal year 2024. A significant event during the quarter was the completion of the spin-off of GRAIL into a new public company on June 24, 2024. The financial results include the consolidated financial results for GRAIL up to the spin-off date. Illumina's CEO, Jacob Thaysen, acknowledged the constrained funding environment's impact on instrument demand but expressed confidence in the company's strategic priorities and operating excellence initiatives.