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Mar 31, 2024
Illumina Q1 2024 Earnings Report
Illumina's first quarter of fiscal year 2024 financial results were reported, showing a slight decrease in consolidated revenue but improved gross and non-GAAP operating margins.
Key Takeaways
Illumina reported consolidated revenue of $1.08 billion for Q1 2024, a 1% decrease compared to Q1 2023. However, the company's gross margin and non-GAAP operating margin improved year-over-year, driven by a favorable mix of sequencing consumables and operational excellence. Illumina is reiterating its fiscal year 2024 Core Illumina revenue guidance that is approximately flat compared to 2023 and a Core Illumina non-GAAP operating margin for fiscal year 2024 of approximately 20%.
Core Illumina revenue was $1.06 billion, down 2% from Q1 2023.
Core Illumina GAAP operating margin was 11.0%, and non-GAAP operating margin was 20.6%.
Consolidated revenue was $1.08 billion, down 1% from Q1 2023.
GAAP diluted loss per share was ($0.79), while non-GAAP diluted earnings per share was $0.09.
Revenue by Segment
Forward Guidance
For fiscal year 2024, the company continues to expect Core Illumina revenue to be approximately flat compared to fiscal year 2023 and Core Illumina non-GAAP operating margin to be approximately 20%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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