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Illumina 8-K Report, Financial Results (Oct 30, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed October 30, 2025
Period End
October 30, 2025
Security
ILMN
In the record · 2016–202610-K1110-Q338-K167

ILMN filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 167 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Nov ’17Nov ’17
  2. Material agreement8-K · Sep ’20Sep ’20
  3. Leadership change8-K · Sep ’22Sep ’22
  4. Material agreement8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed October 30, 2025. Cited figures are marked; the original filing is the authoritative source.

Illumina, Inc. (ILMN) reported third-quarter 2025 results for the quarter ended September 28, 2025, with revenue of $1.08 billiona, flat compared to Q3 2024 on both a reported and constant currency basis.

GAAP operating margin was 21.0% and non-GAAP operating margin was 24.5%. GAAP diluted EPS was $0.98b and non-GAAP diluted EPS was $1.34. Cash provided by operations was $284 million and free cash flow was $253 million.

The company repurchased 1.2 million shares for $120 millionc at an average price of $97.10 per share and held $1.28 billion in cash, cash equivalents and short-term investments at quarter end. CEO Jacob Thaysen said the results exceeded the high end of guidance for revenue and earnings, driven by revenue acceleration in clinical, the company's largest market segment, and that the company returned to growth excluding China during the quarter. The company raised its fiscal 2025 outlook.

It now expects total company constant currency revenue decline of (1.5%) to (0.5%), up from (2.5%) to (1.5%). Non-GAAP operating margin is expected at 22.75% to 23%, up from 22% to 22.5%, and non-GAAP diluted EPS at $4.65 to $4.75d, up from $4.45 to $4.55. Revenue growth outside China is expected at 0.5% to 1.5% on a constant currency basis, unchanged at the midpoint versus prior guidance.

The filing also notes risks tied to the pending acquisition of SomaLogic, Inc. and certain other assets from Standard BioTools Inc., including regulatory approvals. It also cites uncertainty from Illumina's inclusion on China's "unreliable entities list" and China's decision not to permit export of sequencing instruments into China. The GAAP results for Q3 2024 included a $488 million legal contingency and settlement benefit, so year-over-year GAAP comparisons are affected by that item.

02—Key points

Key Highlights

  1. Q3 2025 revenue was $1.08 billion, flat versus Q3 2024 on both reported and constant currency bases.
  2. GAAP diluted EPS was $0.98 versus $4.03 in Q3 2024, which included a $488 million legal contingency and settlement benefit; non-GAAP diluted EPS was $1.34 versus $1.14.
  3. Fiscal 2025 guidance raised: non-GAAP operating margin to 22.75%-23% (from 22%-22.5%) and non-GAAP diluted EPS to $4.65-$4.75 (from $4.45-$4.55).
  4. Constant currency revenue decline guidance narrowed upward to (1.5%)-(0.5%) from (2.5%)-(1.5%); ex-China revenue growth guidance of 0.5%-1.5% was unchanged at the midpoint.
  5. Free cash flow was $253 million in Q3 2025 versus $284 million in Q3 2024, and year-to-date nine-month free cash flow was $665 million.
  6. Capital return: 1.2 million shares repurchased for $120 million at an average of $97.10 per share.
  7. Pending SomaLogic acquisition and China's unreliable entities list designation and export restriction are identified as key risk factors.

03—Questions

Frequently Asked Questions

  1. How did Illumina perform in Q3 2025 compared with the prior year?

    Revenue of $1.08 billion was flat versus Q3 2024 on both a reported and constant currency basis. GAAP operating profit was $227 million (21.0% operating margin) versus $741 million (68.6%) in Q3 2024, a period that included a $488 million legal contingency and settlement benefit. Non-GAAP operating margin was 24.5% versus 22.6% a year earlier.

  2. What changed in Illumina's fiscal 2025 guidance?

    The company raised its outlook for non-GAAP operating margin to 22.75%-23% from 22%-22.5% and non-GAAP diluted EPS to $4.65-$4.75 from $4.45-$4.55. Its constant currency revenue decline guidance moved to (1.5%)-(0.5%) from (2.5%)-(1.5%). Guidance for revenue growth outside China, at 0.5%-1.5% on a constant currency basis, was unchanged at the midpoint.

  3. How much cash does Illumina have and how is it being used?

    Illumina held $1.28 billion in cash, cash equivalents and short-term investments at quarter end. In Q3 2025 it generated $284 million in cash from operations, spent $31 million on capital expenditures for free cash flow purposes, and repurchased 1.2 million shares for $120 million.

  4. What risks does the filing highlight?

    The filing cites uncertainty from Illumina's inclusion on China's unreliable entities list and China's decision not to permit export of sequencing instruments into China. It also flags the pending SomaLogic acquisition from Standard BioTools Inc., including the need for regulatory approvals and successful integration, as well as tariffs and the outcome of pending litigation.

04—Continue

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