NASDAQ: ILMN
ILLUMINA, INC.CIK 0001110803 · SIC 3826 · Lab Analytical Instruments
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Illumina establishes up to $1.0 billion unsecured commercial paper program
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Illumina replaces credit facility with new $1B 5-year revolver, no amounts drawn
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Illumina issues $300M in 4.950% notes due 2029 to refinance maturing debt
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Illumina Q2 revenue rises 9.4% to $1.16B, but net income falls 11.9% to $207.0M
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Latest financial statements
From 10-Q filed Oct 30, 2026 (period ending Sep 27, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(In millions, except per share amounts)
| Description | Three months ended September 27, 2026 | Three months ended September 28, 2025 | Nine months ended September 27, 2026 | Nine months ended September 28, 2025 |
|---|---|---|---|---|
| Revenue: | ||||
| Product revenue | 946 | 927 | 2,845 | 2,719 |
| Service and other revenue | 183 | 157 | 535 | 465 |
| Total revenue | 1,129 | 1,084 | 3,380 | 3,184 |
| Cost of revenue: | ||||
| Cost of product revenue | 199 | 267 | 763 | 795 |
| Cost of service and other revenue | 82 | 68 | 243 | 228 |
| Amortization of acquired intangible assets | 18 | 16 | 53 | 50 |
| Total cost of revenue | 299 | 351 | 1,059 | 1,073 |
| Gross profit | 830 | 733 | 2,321 | 2,111 |
| Operating expense: | ||||
| Research and development | 244 | 229 | 736 | 728 |
| Selling, general and administrative | 281 | 277 | 826 | 777 |
| Total operating expense | 525 | 506 | 1,562 | 1,505 |
| Income from operations | 305 | 227 | 759 | 606 |
| Other income (expense): | ||||
| Interest income | 12 | 9 | 31 | 30 |
| Interest expense | (24) | (25) | (71) | (75) |
| Other (expense) income, net | (29) | 9 | (38) | 148 |
| Total other (expense) income, net | (41) | (7) | (78) | 103 |
| Income before income taxes | 264 | 220 | 681 | 709 |
| Provision for income taxes | 44 | 70 | 120 | 193 |
| Net income | 220 | 150 | 561 | 516 |
| Earnings per share: | ||||
| Basic | 1.46 | 0.98 | 3.70 | 3.30 |
| Diluted | 1.43 | 0.98 | 3.65 | 3.29 |
| Shares used in computing earnings per share: | ||||
| Basic | 151 | 153 | 152 | 156 |
| Diluted | 154 | 154 | 154 | 157 |
Condensed Consolidated Balance Sheets
(In millions)
| Description | September 27, 2026 (Unaudited) | December 28, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 1,289 | 1,418 |
| Short-term investments | 48 | 215 |
| Accounts receivable, net | 738 | 854 |
| Inventory, net | 667 | 564 |
| Prepaid expenses and other current assets | 293 | 238 |
| Total current assets | 3,035 | 3,289 |
| Property and equipment, net | 731 | 759 |
| Operating lease right-of-use assets | 356 | 370 |
| Goodwill | 1,284 | 1,113 |
| Intangible assets, net | 391 | 210 |
| Deferred tax assets, net | 454 | 454 |
| Other assets | 561 | 449 |
| Total assets | 6,812 | 6,644 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 241 | 240 |
| Accrued liabilities | 915 | 846 |
| Term debt, current portion | — | 499 |
| Total current liabilities | 1,156 | 1,585 |
| Operating lease liabilities | 439 | 486 |
| Term debt | 1,789 | 1,490 |
| Other long-term liabilities | 283 | 360 |
| Stockholders’ equity: | ||
| Common stock | 2 | 2 |
| Additional paid-in capital | 8,031 | 7,822 |
| Accumulated other comprehensive income (loss) | 8 | (10) |
| Retained earnings (accumulated deficit) | 169 | (392) |
| Treasury stock, at cost | (5,065) | (4,699) |
| Total stockholders’ equity | 3,145 | 2,723 |
| Total liabilities and stockholders’ equity | 6,812 | 6,644 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
| Description | Nine months ended September 27, 2026 | Nine months ended September 28, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | 561 | 516 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation expense | 154 | 153 |
| Amortization of intangible assets | 57 | 51 |
| Share-based compensation expense | 207 | 212 |
| Deferred income taxes | (3) | 82 |
| Net losses (gains) on investments | 47 | (137) |
| Change in fair value of contingent consideration liabilities | (43) | (29) |
| Intangible impairment | — | 23 |
| Other | 5 | 22 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 119 | 13 |
| Inventory | (69) | (43) |
| Prepaid expenses and other current assets | (60) | (1) |
| Operating lease right-of-use assets and liabilities, net | (28) | (25) |
| Other assets | (100) | (13) |
| Accounts payable | 11 | (13) |
| Accrued liabilities | 109 | (69) |
| Other long-term liabilities | (58) | 16 |
| Net cash provided by operating activities | 909 | 758 |
| Cash flows from investing activities: | ||
| Net purchases of property and equipment | (118) | (93) |
| Net sales (purchases) of investments | 122 | (63) |
| Cash paid for acquisitions and intangible assets, net of cash acquired | (417) | (7) |
| Payments on contingent consideration liabilities | (25) | — |
| Net cash used in investing activities | (438) | (163) |
| Cash flows from financing activities: | ||
| Common stock repurchases, inclusive of excise tax | (379) | (700) |
| Taxes paid related to net share settlement of equity awards | (35) | (24) |
| Proceeds from issuance of common stock | 46 | 44 |
| Payments on contingent consideration liabilities | (31) | (1) |
| Payments on debt obligations | (500) | — |
| Proceeds from debt, net of issuance costs | 297 | — |
| Net cash used in financing activities | (602) | (681) |
| Effect of exchange rate changes on cash and cash equivalents | 2 | 9 |
| Net decrease in cash and cash equivalents | (129) | (77) |
| Cash and cash equivalents at beginning of period | 1,418 | 1,127 |
| Cash and cash equivalents at end of period | 1,289 | 1,050 |
Amounts as printed on the EDGAR/iXBRL face — (In millions, except per share amounts); (In millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗