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Illumina (ILMN) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
ZACKS· 2025-05-09 00:30
Core Insights - Illumina reported revenue of $1.04 billion for the quarter ended March 2025, reflecting a 3.3% decrease year-over-year, while EPS increased to $0.97 from $0.09 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate by 0.25%, and the EPS also surpassed the consensus estimate by 1.04% [1] Revenue Breakdown - Product revenue was $880 million, slightly above the average estimate of $872.04 million, marking a year-over-year increase of 0.5% [4] - Core Illumina service and other revenue totaled $161 million, below the average estimate of $175.08 million, representing a year-over-year decline of 6.9% [4] - Total product revenue for Core Illumina was $880 million, compared to the average estimate of $869.69 million, showing a year-over-year decrease of 0.3% [4] - Service and other revenue was $161 million, below the average estimate of $170.12 million, with a significant year-over-year decline of 19.5% [4] - Sequencing instruments revenue reached $109 million, slightly above the estimated $108.51 million, reflecting a year-over-year decrease of 0.9% [4] - Core Illumina instruments revenue was $112 million, in line with the average estimate of $112.06 million, showing a year-over-year decline of 1.8% [4] - Sequencing consumables revenue was $696 million, exceeding the estimated $679.85 million, with a year-over-year decrease of 0.3% [4] - Microarrays instruments revenue was $3 million, below the estimated $3.61 million, representing a significant year-over-year decline of 25% [4] - Microarrays consumables revenue was $72 million, slightly below the average estimate of $74.59 million, with a year-over-year increase of 1.4% [4] - Overall, Core Illumina revenue was $1.04 billion, surpassing the average estimate of $1.03 billion, but reflecting a year-over-year decline of 1.4% [4] - Core Illumina consumables revenue was $768 million, exceeding the estimated $748.87 million, with a year-over-year decrease of 0.1% [4] Stock Performance - Illumina's shares returned 0.1% over the past month, compared to a 11.3% increase in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]
Illumina (ILMN) Tops Q1 Earnings and Revenue Estimates
ZACKS· 2025-05-08 23:00
Core Insights - Illumina reported quarterly earnings of $0.97 per share, exceeding the Zacks Consensus Estimate of $0.96 per share, and significantly up from $0.09 per share a year ago, indicating a strong performance [1] - The company generated revenues of $1.04 billion for the quarter, surpassing the Zacks Consensus Estimate by 0.25%, although this represents a decline from $1.08 billion in the same quarter last year [2] - Illumina has outperformed consensus EPS estimates three times over the last four quarters and has topped revenue estimates four times in the same period [2] Earnings and Future Outlook - The sustainability of Illumina's stock price movement will largely depend on management's commentary during the earnings call and future earnings expectations [3][4] - The current consensus EPS estimate for the upcoming quarter is $1.07 on revenues of $1.06 billion, while for the current fiscal year, the estimate is $4.43 on revenues of $4.31 billion [7] - The estimate revisions trend for Illumina is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Illumina belongs, is currently in the top 33% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]
Illumina(ILMN) - 2026 Q1 - Quarterly Report
2025-05-08 22:05
Revenue Performance - Revenue decreased 3% in Q1 2025 to $1,041 million compared to $1,076 million in Q1 2024, primarily due to a decrease in service and other revenue driven by the Spin-Off of GRAIL[130] - Total revenue for Q1 2025 was $1,041 million, a decrease of 3.2% compared to $1,076 million in Q1 2024[18] - Core Illumina total product revenue decreased by 3% to $880 million in Q1 2025 from $883 million in Q1 2024[134] - Product revenue increased slightly to $880 million, up from $876 million year-over-year[18] - Revenue from the Greater China region, including China, Taiwan, and Hong Kong, was $308 million in 2024, indicating significant exposure to regulatory risks in that market[167] Profitability and Income - Net income in Q1 2025 was $131 million, a significant increase from a net loss of $126 million in Q1 2024[142] - Income from operations was $164 million in Q1 2025 compared to a loss of $(111) million in Q1 2024, primarily due to a decrease in operating expenses of $259 million[131] - Net income for Q1 2025 was $131 million, compared to a net loss of $126 million in Q1 2024[26] - Gross profit for the quarter was $683 million, compared to $667 million in the same period last year, reflecting a gross margin increase[18] Expenses and Cost Management - Total consolidated operating expense decreased by $259 million, or 33%, from Q1 2024 to Q1 2025, totaling $519 million[138] - Core Illumina's SG&A expense decreased by $69 million, or 21%, in Q1 2025, mainly due to a favorable impact from contingent consideration liability related to GRAIL[139] - Research and development expenses were $252 million, down from $339 million in Q1 2024, reflecting cost management efforts[18] - The company implemented a $100 million cost reduction program in Q1 2025 to mitigate expected revenue declines, particularly from the Greater China business[128] Cash and Investments - Cash, cash equivalents, and short-term investments totaled $1,237 million at the end of Q1 2025, with approximately $432 million held by foreign subsidiaries[131] - As of March 30, 2025, the company had $1,113 million in cash and cash equivalents, with $432 million held by foreign subsidiaries[147] - The company anticipates that current cash, cash equivalents, and short-term investments are sufficient to fund near-term capital and operating needs for at least the next 12 months[153] Tax and Regulatory Matters - The effective tax rate was 27.9% in Q1 2025 compared to (15.3)% in Q1 2024, primarily due to the impact of research and development expense capitalization for tax purposes[131] - The company faces various risks, including potential penalties from regulatory authorities in China, which could materially impact revenue and operations[166] - The company was added to China's List of Unreliable Entities on February 4, 2025, which may lead to fines or restrictions on business operations in China, potentially adversely affecting revenue and results[166] Shareholder Actions and Stock Performance - In Q1 2025, the company repurchased $200 million of its common stock as part of its share repurchase program[158] - The company repurchased 1.728 million shares at a total cost of $201 million during Q1 2025, with $1.2 billion remaining available for repurchase as of March 30, 2025[72][71] - In August 2024, the Board of Directors authorized a new share repurchase program to buy back up to $1.5 billion of outstanding common stock, with 1,728 thousand shares repurchased at an average price of $115.74 per share during Q1 2025[168] GRAIL Spin-Off and Related Developments - The Spin-Off of GRAIL on June 24, 2024, resulted in Illumina stockholders receiving one share of GRAIL common stock for every six shares of Illumina common stock held[124] - The company completed the separation of GRAIL into a separate publicly traded company, distributing approximately 85.5% of GRAIL's outstanding common stock to Illumina stockholders[88] - The U.S. Federal Trade Commission dismissed the administrative complaint related to the company following the completion of the Spin-Off[91] Market and Operational Risks - The estimated cost impact of tariffs enacted in April 2025 is approximately $85 million, primarily related to importation from the manufacturing facility in Singapore[129] - The company continues to focus on operational excellence and cost reduction initiatives to enhance growth and expand operating margins[131] - The company is subject to uncertainties regarding the impact of tariffs announced by the U.S. Government and other countries, which could affect financial performance[10]
Illumina(ILMN) - 2025 Q1 - Earnings Call Presentation
2025-05-08 21:52
Q1 2025 Earnings Presentation May 8, 2025 © 2025 Illumina, Inc. All rights reserved. Cautionary Notes This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements are: (i) changes in the rate of growth in the markets we serve; (ii) the volume, timing and mix of customer orders among our products and services; (iii) our abi ...
Illumina(ILMN) - 2025 Q1 - Earnings Call Transcript
2025-05-08 21:32
Financial Data and Key Metrics Changes - First quarter revenue was $1,040 million, down 1.4% year over year, with constant currency revenue roughly flat [20][19] - Non-GAAP EPS was $0.97, at the upper end of guidance [19][27] - Non-GAAP gross margin increased by 30 basis points year over year to 67.4% [25] - Non-GAAP operating margin was 20.4% in Q1 [27] Business Line Data and Key Metrics Changes - Sequencing consumables revenue was $696 million, growing approximately 1% year over year [20] - Sequencing instruments revenue was approximately flat year over year at $109 million [23] - Sequencing service and other revenue was down approximately 5% year over year to $142 million [24] Market Data and Key Metrics Changes - Clinical business showed mid single-digit growth, while research business was down in the high mid to high single-digit range [50][49] - Approximately 68% of high throughput gigabases shipped were on the NovaSeq X Series [22] - Over 50% of clinical volumes are now on the NovaSeq X Series [22] Company Strategy and Development Direction - The company aims for high single-digit revenue growth and 500 basis points margin expansion by 2027, excluding Greater China [10] - A $100 million cost reduction program was initiated to address challenges from China and research funding uncertainty [12] - The company is focusing on advancing the Multiomics ecosystem and has a strong innovation pipeline [9][17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged macroeconomic challenges but expressed confidence in the company's resilience and growth potential [7][10] - The company is revising guidance to reflect headwinds from China and research funding uncertainties [11][29] - Management emphasized that the challenges are transitory and will not define long-term success [10] Other Important Information - The company is engaging with regulatory authorities in China for potential solutions to support a sustainable long-term presence [11] - The impact of new tariffs is estimated to be approximately $85 million for 2025, with actions being taken to mitigate this [35][36] Q&A Session Summary Question: What is the outlook for revenue growth and margin expansion? - Management believes that revenue growth will rebound and margins will expand above 25% in the future, despite current challenges [42] Question: What are the clinical and research revenue growth rates? - Clinical revenue grew mid single digits, while research revenue declined in the high mid to high single-digit range [50][49] Question: How is the company managing risks related to China? - The company has taken actions to offset potential risks from China, including a $100 million cost reduction program [46] Question: How are tariffs impacting demand? - No significant change in customer behavior was observed in Q1 due to tariffs, but future impacts are anticipated [68][70] Question: What are the assumptions behind the revenue guidance? - The guidance reflects a 15% decline in research revenue, offset by stronger clinical performance [76][78]
Illumina(ILMN) - 2025 Q1 - Earnings Call Transcript
2025-05-08 21:30
Financial Data and Key Metrics Changes - Q1 2025 revenue was $1,040 million, down 1.4% year over year, with constant currency revenue roughly flat [19][30] - Non-GAAP EPS was $0.97, at the high end of guidance [18][27] - Non-GAAP gross margin increased by 30 basis points year over year to 67.4% [24] - Non-GAAP operating margin was 20.4% in Q1 [27] - Cash flow from operations was $240 million, with free cash flow at $208 million [28] Business Line Data and Key Metrics Changes - Sequencing consumables revenue was $696 million, growing approximately 1% year over year [19] - Sequencing instruments revenue was approximately flat at $109 million [22] - Sequencing service and other revenue decreased by approximately 5% year over year to $142 million [23] Market Data and Key Metrics Changes - Clinical business consumables grew mid-single digits, while research consumables were down in the high mid to high single-digit range [49] - The Greater China region is expected to contribute only $165 million to $185 million in full-year revenue, significantly down from previous levels [30][32] Company Strategy and Development Direction - The company aims for high single-digit revenue growth and 500 basis points margin expansion by 2027, excluding Greater China [8][10] - A $100 million cost reduction program was initiated to address challenges in China and the U.S. funding environment [11][25] - The company is focused on advancing its Multiomics ecosystem and has several new product launches planned for 2025 and 2026 [13][16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged macroeconomic challenges but emphasized the resilience of the business and strong sequencing activity [6][44] - The company is actively engaging with regulatory authorities in China to find long-term solutions [10][32] - Management expressed confidence in the long-term growth trajectory despite current headwinds [9][39] Other Important Information - The company is revising its guidance to reflect geopolitical impacts, particularly in China [29] - The estimated gross cost of tariffs for 2025 is approximately $85 million, impacting margins [34][35] Q&A Session Summary Question: What is the outlook for revenue growth and margins? - Management believes revenue growth will rebound and margins will expand above 25% in the future, with a focus on cost control [41][42] Question: What are the growth rates for clinical and research segments? - Clinical revenue grew mid-single digits, while research revenue is expected to decline in the mid-double digits for the remainder of the year [49][50] Question: How are tariffs affecting demand? - No significant change in customer behavior was observed in Q1 due to tariffs, but future impacts are anticipated [66][68] Question: What is the impact of China on future revenue? - The company expects continued revenue decline from China, with proactive measures in place to mitigate risks [96]
Illumina(ILMN) - 2026 Q1 - Quarterly Results
2025-05-08 20:24
Investors: Brian Blanchett +1.858.291.6421 ir@illumina.com Media: Christine Douglass pr@illumina.com Illumina Reports Financial Results for First Quarter of Fiscal Year 2025 | | | | GAAP | | | | Non-GAAP (a) | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Dollars in millions, except per share amounts | | Q1 2025 | | Q1 2024 | | Q1 2025 | | Q1 2024 | | Revenue (b) | $ | 1,041 | $ | 1,056 | $ | 1,041 | $ | 1,056 | | Gross margin (c) | | 65.6 % | | 65.7 % | | 67.4 % | | 67.1 % | | Research and de ...
Unveiling Illumina (ILMN) Q1 Outlook: Wall Street Estimates for Key Metrics
ZACKS· 2025-05-05 14:21
Wall Street analysts forecast that Illumina (ILMN) will report quarterly earnings of $0.96 per share in its upcoming release, pointing to a year-over-year increase of 966.7%. It is anticipated that revenues will amount to $1.04 billion, exhibiting a decline of 3.5% compared to the year-ago quarter.The consensus EPS estimate for the quarter has undergone a downward revision of 0.6% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed th ...
Illumina and Ovation.io launching first-of-kind GLP-1 dataset to accelerate new therapy development
Prnewswire· 2025-05-01 13:15
First real-world dataset with integrated clinical and multiomic insights from 25,000 patients treated with GLP-1 therapiesDataset will advance development of GLP-1 therapies in new indications and accelerate discovery of novel drug targets in patients who are unresponsive to therapiesSAN DIEGO, May 1, 2025 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN), and Ovation.io, Inc., an organization dedicated to building best-in-class multiomics datasets, today announced the development of the largest commercially av ...
关税战VS本土化:美国仪器企业如何兑现”在华发展承诺“?
仪器信息网· 2025-04-18 05:52
导读: 近期,关税战愈演愈烈,在此背景下,我们特别盘点美国十家科学仪器企业在华的发展布局,以期洞察未来趋势。 他还着重表示,珀金埃尔默太仓工厂扩建项目已完成,新的现代化生产设施和运营平台将在现有的太仓基地附近投产,面积扩大近四倍,并将 逐步实现全品类产线转移。这将进一步提升公司在中国市场的生产和运营规模,更好地服务中国客户。珀金埃尔默将持续关注中国市场与客户 需求的变化,不断推出适应中国市场的产品和解决方案,为中国客户提供创新技术和专业服务。 特别提示 微信公众号机制调整,请点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标,否则很可能无法看到我们的推送。 2 0 2 5年2月2 8日,胡润研究院发布《2 0 2 4在中国的美国企业特别报告》,报告共收集了7 0家标普5 0 0成分股美国企业的数据,这些企业均披露 了其在中国市场的营收数据。 样本企业在全球市场的收入总额超过2 . 5万亿美元,相当于美国2 0 2 3年GDP总和的9%。报告中不仅提及了苹 果、特斯拉、沃尔玛等知名企业,还特别关注了珀金埃尔默、r e v v it y等科学仪器领域的美国品牌。 回顾历史,自上世纪8 0年代前后,珀金埃 ...