Q4 2025 Illumina Inc Earnings Call Transcript

Feb 05, 2026 / 09:30PM GMT

Release Date Price: CHF105.14 (-1.32%)

Transcript 10-K8-K

Key Points

Positve

Illumina Inc (ILMN) exceeded expectations in Q4 2025, with a 20% growth in clinical consumables revenue ex-China.
The company achieved a 7% revenue growth ex-China in Q4 2025, marking a return to growth.
Illumina Inc (ILMN) expanded non-GAAP operating margins by 180 basis points and grew non-GAAP EPS by 16% year-over-year.
The company generated strong free cash flow and returned approximately $740 million to shareholders through share repurchases.
Illumina Inc (ILMN) advanced its portfolio beyond core sequencing into multiomics, data, software, and AI, positioning itself for future growth.

Negative

The research and applied consumables revenue remained flat year-over-year due to continued uncertainty in the funding environment.
Illumina Inc (ILMN) expects mid-to-high single-digit revenue declines in research and applied consumables revenue in 2026.
The company anticipates no fundamental change in the academic end-markets in 2026, indicating ongoing challenges.
Sequencing instruments revenue is expected to be roughly flat to slightly down in 2026.
China sales are expected to be a one-point headwind to total company revenue growth in 2026.

Operator

Good day, ladies and gentlemen. Welcome to the fourth-quarter 2025 Illumina earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded.

I would now like to hand the call over to Head of Investor Relations, Conor McNamara.

Conor McNamara

Illumina Inc - Vice President, Investor Relation

Hello, everyone, and welcome to Illumina's fourth-quarter 2025 Earnings Call. Today, we will review our financial results released after the market close and provide prepared remarks before opening the line for Q&A. Our earnings release is available in the Investor Relations section of illumina.com. Joining us on today's call are Jacob Thaysen, Chief Executive Officer; and Ankur Dhingra, Chief Financial Officer.

Jacob will start with an update on Illumina's business, followed by Ankur's review of the company's financials. We will be discussing certain non-GAAP financial measures on today's call, and a reconciliation to GAAP can be found in today's release and in the supplementary data available on our

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