Illumina Q3 2023 Earnings Report
Key Takeaways
Illumina's Q3 2023 revenue was $1.12 billion, flat compared to Q3 2022. GAAP diluted loss per share was $(4.77), including $821 million in GRAIL-related impairments. Non-GAAP diluted earnings per share was $0.33, slightly down from $0.34 in Q3 2022. The company shipped 97 NovaSeq X instruments and updated its full-year guidance, expecting a revenue decrease of 2% to 3% from 2022.
Welcomed new CEO Jacob Thaysen, Ph.D., who started with Illumina on September 25, 2023
Preparing for sale and capital markets transaction options for GRAIL, including filing a Form 10, in accordance with the European Commission’s divestiture order.
Revenue of $1.12 billion for Q3 2023, flat compared to Q3 2022 (up 1% on a constant currency basis) and down 5% from Q2 2023
Shipped 97 NovaSeq X instruments in Q3 2023; now expect to ship 330 to 340 instruments for fiscal year 2023
Illumina
Illumina
Forward Guidance
The company now expects consolidated revenue to decrease 2% to 3% compared to fiscal year 2022. The company now expects Core Illumina revenue to decrease 3% to 4% compared to fiscal year 2022. GRAIL revenue is now expected to be at the low end of the $90 million to $110 million range. The company now expects GAAP diluted loss per share of $(6.67) to $(6.57) and non-GAAP diluted earnings per share of $0.60 to $0.70.