Illumina Reports Strong Q2 Earnings with Revenue Growth Driven by Clinical Demand
In Q2 2026, Illumina (ILMN) reported total revenue of $1.16 billion, a year-over-year increase of 9.5%, driven primarily by strong clinical market demand and the expansion of its NovaSeq X platform. The company exceeded guidance for global organic growth at 8.1% and raised full-year revenue projections to between $4.60 billion and $4.64 billion. Non-GAAP earnings per share (EPS) came in at $1.31, a 10% increase year over year. The NovaSeq X platform continued its strong performance with more than 95 units placed during the quarter, bringing total installed base to three years post-launch. Clinical consumables revenue grew by 15%, while U.S.-Canada clinical growth exceeded 20%. However, research and applied consumables saw a 7% decline due to cautious customer spending. Illumina also raised its full-year non-GAAP EPS guidance from $5.15–$5.30 to $5.30–$5.40 and expects Q3 revenue between $1.14 billion and $1.16 billion, with organic growth of approximately 4.5%.
Tickers: $ILMN
Topics: NovaSeq X organic_growth revenue