Illumina Q1 2024 Earnings Report
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.
Illumina
Illumina
Illumina 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