On July 30, 2026 Illumina, Inc. (Nasdaq: ILMN) ("Illumina" or the "company") reported its financial results for the second quarter of fiscal year 2026.
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Second quarter 2026 results
•Revenue of $1.16 billion for Q2 2026, up 9.5% from Q2 2025 and up 8.1% excluding the impacts of currency, acquisitions, and China ("ROW1 organic revenue growth")
•GAAP operating margin of 21.1% and non-GAAP operating margin of 22.5%
•GAAP diluted EPS of $1.35 and non-GAAP diluted EPS of $1.31
"Illumina delivered strong results during the second quarter. Momentum continued to build through the first half of 2026, as our technology is enabling clinical customers to expand sequencing-intensive applications. Based on this performance, we are increasing our revenue and earnings guidance for the year," said Jacob Thaysen, Chief Executive Officer of Illumina. "Demand for NovaSeq X remains high as we expand our workflow and multiomics capabilities, broadening the value of Illumina’s ecosystem."
Fiscal year 2026 guidance
For fiscal year 2026, we now expect:
•Total revenue of $4.60-$4.64 billion, versus prior guidance of $4.52-$4.62 billion
•ROW organic revenue growth greater than 5%, versus prior guidance of 2%-4%
•Non-GAAP operating margin of 23.4%-23.6%, unchanged from prior guidance
•Non-GAAP diluted EPS of $5.30-$5.40, versus prior guidance of $5.15-$5.30
Second quarter results
GAAP Non-GAAP (a)
Dollars in millions, except per share amounts
Q2 2026 Q2 2025 Q2 2026 Q2 2025
Revenue
$ 1,159 $ 1,059 $ 1,159 $ 1,059
Gross margin
66.4 % 65.6 % 68.2 % 69.4 %
Operating profit
$ 245 $ 214 $ 260 $ 252
Operating margin 21.1 % 20.2 % 22.5 % 23.8 %
Diluted EPS $ 1.35 $ 1.49 $ 1.31 $ 1.19
(a)See tables in "Results of Operations – Non-GAAP" section below for GAAP and non-GAAP reconciliations.
Capital expenditures for free cash flow purposes were $39 million for Q2 2026. Cash flow provided by operations was $201 million, compared to $234 million in the prior year period. Free cash flow (cash flow provided by operations less capital expenditures) was $162 million for the quarter, compared to $204 million in the prior year period. Depreciation and amortization expense was $70 million for Q2 2026. At the close of the quarter, the company held $1.17 billion in cash, cash equivalents and short-term investments.
Conference call information
The conference call will begin at 1:30 pm Pacific Time (4:30 pm Eastern Time) on Thursday, July 30, 2026. Interested parties may access the live webcast via the Investor Info section of Illumina’s website or directly through the following link – View Source To ensure timely connection, please join at least ten minutes before the scheduled start of the call. A replay of the conference call will be posted on Illumina’s website after the event and will be available for at least 30 days following.
(Press release, Illumina, JUL 30, 2026, View Source [SID1234669533])