Loading...
•
Jun 29, 2025
Illumina Q2 2025 Earnings Report
Illumina reported its financial results for the second quarter of fiscal year 2025, exceeding guidance with strong performance in X consumables and clinical segments, while navigating a constrained funding environment in research.
Key Takeaways
Illumina delivered a solid second quarter in fiscal year 2025, with revenue of $1.06 billion, a GAAP diluted EPS of $1.49, and a non-GAAP diluted EPS of $1.19. The company exceeded its guidance, driven by strong performance in X consumables and accelerating growth in its clinical segment, despite a challenging funding environment in research. Operational excellence contributed to margin expansion, leading to increased full-year expectations.
Revenue for Q2 2025 was $1.06 billion, a 3% decrease from Q2 2024 on both a reported and constant currency basis.
GAAP diluted EPS was $1.49 and non-GAAP diluted EPS was $1.19 for Q2 2025.
The company generated $234 million in cash from operations and $204 million in free cash flow for Q2 2025.
Illumina repurchased approximately 4.5 million shares for $380 million during the quarter and increased its fiscal year 2025 non-GAAP diluted EPS guidance to $4.45 - $4.55.
Revenue by Segment
Forward Guidance
For fiscal year 2025, Illumina expects total company constant currency revenue decline in the range of (2.5%) to (0.5%), an improvement from previous guidance. Non-GAAP operating margin is projected to be approximately 22% - 22.5%, and non-GAAP diluted EPS is expected to be in the range of $4.45 - $4.55, including a benefit from recently passed tax legislation.
Positive Outlook
- Total company constant currency revenue decline is now expected to be in the range of (2.5%) to (0.5%), an improvement from the previous guidance of (3%) to (1%).
- Non-GAAP operating margin is now expected to be approximately 22% - 22.5%, up from 21.5% - 22.0% previously.
- Non-GAAP diluted EPS guidance increased to $4.45 - $4.55, up from $4.20 - $4.30.
- The non-GAAP diluted EPS guidance includes a benefit of approximately 10 cents from recently passed legislation allowing U.S. based R&D spend to be tax-deductible.
- The company intends to repurchase incremental shares over the course of the year as part of its approximate $800 million authorization remaining.
Challenges Ahead
- The company still expects a total company constant currency revenue decline for fiscal year 2025.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...