Illumina Reports Strong Q2 Results, Raises Full-Year Guidance
Illumina (NASDAQ:ILMN) reported second-quarter results that exceeded expectations, with revenue rising to $1.16 billion—up 9.5% year over year—and non-GAAP earnings per share increasing by 10%. The company raised its full-year revenue guidance to between $4.60 billion and $4.64 billion from a prior range of $4.52 billion–$4.58 billion, while also boosting EPS expectations. Clinical sequencing was the primary growth driver, with clinical consumables revenue up 15% outside China and more than 95 NovaSeq X instruments placed during the quarter. CEO Jacob Thaysen noted strong demand for Illumina's technology in expanding clinical applications such as oncology and minimal residual disease detection. However, research markets remain under pressure due to funding uncertainty, with related consumables revenue expected to decline mid- to high-single digits this year. Illumina is also advancing newer growth areas like spatial biology and proteomics through its BioInsight initiative, which has attracted pharmaceutical partners.
Tickers: $ILMN
Topics: biotech clinical sequencing guidance update revenue growth