NASDAQ: ILMN
ILLUMINA, INC.CIK 0001110803 · SIC 3826 · Lab Analytical Instruments
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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 Jul 31, 2026 (period ending Jun 28, 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 June 28, 2026 | Three months ended June 29, 2025 | Six months ended June 28, 2026 | Six months ended June 29, 2025 |
|---|---|---|---|---|
| Revenue: | ||||
| Product revenue | 982 | 912 | 1,899 | 1,793 |
| Service and other revenue | 177 | 147 | 352 | 307 |
| Total revenue | 1,159 | 1,059 | 2,251 | 2,100 |
| Cost of revenue: | ||||
| Cost of product revenue | 291 | 276 | 565 | 529 |
| Cost of service and other revenue | 80 | 71 | 160 | 160 |
| Amortization of acquired intangible assets | 18 | 17 | 35 | 33 |
| Total cost of revenue | 389 | 364 | 760 | 722 |
| Gross profit | 770 | 695 | 1,491 | 1,378 |
| Operating expense: | ||||
| Research and development | 252 | 247 | 492 | 499 |
| Selling, general and administrative | 273 | 234 | 545 | 501 |
| Total operating expense | 525 | 481 | 1,037 | 1,000 |
| Income from operations | 245 | 214 | 454 | 378 |
| Other income (expense): | ||||
| Interest income | 8 | 10 | 19 | 21 |
| Interest expense | (24) | (25) | (47) | (50) |
| Other income (expense), net | 31 | 107 | (9) | 139 |
| Total other income (expense), net | 15 | 92 | (37) | 110 |
| Income before income taxes | 260 | 306 | 417 | 488 |
| Provision for income taxes | 53 | 71 | 77 | 122 |
| Net income | 207 | 235 | 340 | 366 |
| Earnings per share: | ||||
| Basic | 1.37 | 1.49 | 2.24 | 2.32 |
| Diluted | 1.35 | 1.49 | 2.22 | 2.31 |
| Shares used in computing earnings per share: | ||||
| Basic | 151 | 157 | 152 | 158 |
| Diluted | 153 | 157 | 154 | 158 |
Condensed Consolidated Balance Sheets
(In millions)
| Description | June 28, 2026 (Unaudited) | December 28, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 1,040 | 1,418 |
| Short-term investments | 128 | 215 |
| Accounts receivable, net | 764 | 854 |
| Inventory, net | 629 | 564 |
| Prepaid expenses and other current assets | 273 | 238 |
| Total current assets | 2,834 | 3,289 |
| Property and equipment, net | 745 | 759 |
| Operating lease right-of-use assets | 362 | 370 |
| Goodwill | 1,284 | 1,113 |
| Intangible assets, net | 410 | 210 |
| Deferred tax assets, net | 439 | 454 |
| Other assets | 576 | 449 |
| Total assets | 6,650 | 6,644 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 230 | 240 |
| Accrued liabilities | 848 | 846 |
| Term debt, current portion | 500 | 499 |
| Total current liabilities | 1,578 | 1,585 |
| Operating lease liabilities | 454 | 486 |
| Term debt | 1,491 | 1,490 |
| Other long-term liabilities | 289 | 360 |
| Stockholders’ equity: | ||
| Common stock | 2 | 2 |
| Additional paid-in capital | 7,933 | 7,822 |
| Accumulated other comprehensive income (loss) | 8 | (10) |
| Accumulated deficit | (51) | (392) |
| Treasury stock, at cost | (5,054) | (4,699) |
| Total stockholders’ equity | 2,838 | 2,723 |
| Total liabilities and stockholders’ equity | 6,650 | 6,644 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
| Description | Six months ended June 28, 2026 | Six months ended June 29, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | 340 | 366 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation expense | 102 | 103 |
| Amortization of intangible assets | 37 | 34 |
| Share-based compensation expense | 133 | 142 |
| Deferred income taxes | 18 | 41 |
| Net losses (gains) on investments | 16 | (133) |
| Change in fair value of contingent consideration liabilities | (32) | (32) |
| Intangible impairment | — | 23 |
| Other | 4 | 9 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 92 | 49 |
| Inventory | (31) | (28) |
| Prepaid expenses and other current assets | (9) | 11 |
| Operating lease right-of-use assets and liabilities, net | (18) | (17) |
| Other assets | (72) | (3) |
| Accounts payable | (2) | (26) |
| Accrued liabilities | (24) | (91) |
| Other long-term liabilities | (64) | 26 |
| Net cash provided by operating activities | 490 | 474 |
| Cash flows from investing activities: | ||
| Net purchases of property and equipment | (78) | (62) |
| Net sales (purchases) of investments | 32 | (43) |
| 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 | (488) | (112) |
| Cash flows from financing activities: | ||
| Common stock repurchases, inclusive of excise tax | (370) | (570) |
| Taxes paid related to net share settlement of equity awards | (33) | (23) |
| Proceeds from issuance of common stock | 24 | 28 |
| Payments on contingent consideration liabilities | (1) | (1) |
| Net cash used in financing activities | (380) | (566) |
| Effect of exchange rate changes on cash and cash equivalents | — | 11 |
| Net decrease in cash and cash equivalents | (378) | (193) |
| Cash and cash equivalents at beginning of period | 1,418 | 1,127 |
| Cash and cash equivalents at end of period | 1,040 | 934 |
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 ↗