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Jan 03, 2021
Illumina Q4 2020 Earnings Report
Illumina's Q4 2020 financial performance reflected record revenue and strong growth, driven by increased sequencing instrument orders and overall business recovery.
Key Takeaways
Illumina reported a record fourth quarter revenue of $953 million, a slight increase compared to the prior year period. GAAP net income was $257 million, or $1.75 per diluted share, while non-GAAP net income was $179 million, or $1.22 per diluted share. The company saw record orders, including sequencing instruments, and anticipates continued recovery from the pandemic in 2021.
Illumina delivered record fourth quarter revenue, exceeding expectations.
The company experienced record orders, including sequencing instrument orders.
GAAP net income attributable to Illumina stockholders was $257 million, or $1.75 per diluted share.
Illumina anticipates continued recovery from the pandemic in 2021.
Illumina
Illumina
Forward Guidance
For fiscal year 2021, the company expects year-over-year revenue growth in the range of 17% to 20%, and expects GAAP earnings per diluted share of $4.76 to $5.01 and non-GAAP earnings per diluted share of $5.10 to $5.35. This guidance excludes the potential impact from the pending acquisition of GRAIL, which we expect to close in the second half of 2021.
Positive Outlook
- Expects year-over-year revenue growth in the range of 17% to 20%.
- Expects GAAP earnings per diluted share of $4.76 to $5.01.
- Expects non-GAAP earnings per diluted share of $5.10 to $5.35.
- Expanded NextSeq 2000 flow cell offering with launch of the P3 Reagent Kit and started shipping the NextSeq 1000
- Announced TSO 500 partnerships with Bristol Myers Squibb, Kura Oncology, Myriad Genetics, and Merck to advance comprehensive genomic profiling
Challenges Ahead
- Guidance excludes the potential impact from the pending acquisition of GRAIL.
- Impact to business from the COVID-19 pandemic
- Changes in the rate of growth in the markets served
- Volume, timing and mix of customer orders among products and services
- Ability to adjust operating expenses to align with revenue expectations