Illumina Announces Preliminary Unaudited Financial Results for Fourth Quarter and Fiscal Year 2025

Rhea-AI Summary

Illumina (Nasdaq: ILMN) reported preliminary unaudited results for Q4 and fiscal 2025 ahead of its Jan 13, 2026 J.P. Morgan presentation. Q4 revenue ~$1.155B (up 5% vs Q4 2024; 4% constant currency) and ex-China Q4 ~$1.100B (up 7%). Fiscal 2025 revenue was approximately $4.34B (flat year-over-year) with ex-China $4.10B (up 2%). Preliminary GAAP diluted EPS: $2.14–$2.17 (Q4) and $5.42–$5.45 (FY); preliminary non-GAAP diluted EPS: $1.27–$1.30 (Q4) and $4.76–$4.79 (FY). Results are unaudited and subject to final audit; full results due Feb 5, 2026.

Positive

• Q4 revenue growth of 5% versus Q4 2024
• Q4 ex-China revenue increased 7%
• Fiscal 2025 revenue held steady at $4.34B

Negative

• Preliminary results are unaudited and subject to adjustment
• Non-GAAP EPS excludes a $1.24 strategic investment gain (Q4)
• Regulatory uncertainty from potential inclusion on China's "unreliable entities list"

News Market Reaction

+0.99%

1 alert

+0.99% News Effect

+$218M Valuation Impact

$22.24B Market Cap

4K Volume

On the day this news was published, ILMN gained 0.99%, reflecting a mild positive market reaction. This price movement added approximately $218M to the company's valuation, bringing the market cap to $22.24B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Q4 2025 revenue: $1.155 billion Q4 2025 ex-China revenue: $1.100 billion Q4 2025 GAAP EPS: $2.14–$2.17 +5 more

8 metrics

Q4 2025 revenue $1.155 billion Preliminary, up 5% vs Q4 2024 (4% constant currency)

Q4 2025 ex-China revenue $1.100 billion Preliminary, up 7% vs Q4 2024 (constant currency)

Q4 2025 GAAP EPS $2.14–$2.17 Preliminary diluted EPS for the quarter

Q4 2025 non-GAAP EPS $1.27–$1.30 Preliminary diluted EPS excluding specified items

FY 2025 revenue $4.34 billion Preliminary, flat vs 2024 on reported and constant currency basis

FY 2025 ex-China revenue $4.10 billion Preliminary, up 2% vs 2024 (constant currency)

FY 2025 GAAP EPS $5.42–$5.45 Preliminary diluted EPS for fiscal year 2025

FY 2025 non-GAAP EPS $4.76–$4.79 Preliminary diluted EPS, non-GAAP basis, fiscal year 2025

Market Reality Check

Price: $116.81 Vol: Volume 1,646,395 is in li...

normal vol

$116.81 Last Close

Volume Volume 1,646,395 is in line with the 20-day average of 1,652,302, suggesting a typical liquidity backdrop for this move. normal

Technical Shares at $145.55 are trading above the 200-day MA of $100.70 and sit about 4.9% below the 52-week high of $153.06.

Peers on Argus

ILMN rose 3.18% while key peers showed mixed, mostly modest moves (e.g., WAT -1....

ILMN rose 3.18% while key peers showed mixed, mostly modest moves (e.g., WAT -1.03%, LH -0.69%, MEDP +0.21%, DGX +0.07%, PKI 0%), pointing to a stock-specific reaction to the preliminary earnings.

Historical Context

5 past events · Latest: Oct 30 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Oct 30	Q3 2025 earnings	Positive	+0.0%	Flat revenue but raised FY 2025 guidance and higher EPS outlook.
Jul 31	Q2 2025 earnings	Neutral	+0.0%	Revenue down 3% but guidance revised upward and SomaLogic deal announced.
May 08	Q1 2025 earnings	Negative	+0.0%	Core revenue decline and downward revision to FY 2025 guidance.
Feb 06	FY 2024 results	Neutral	+0.0%	FY 2024 revenue down 2% but strong cash flow and 2025 growth outlook.
Jan 14	FY 2024 prelims	Neutral	+0.0%	Preliminary 2024 figures with early 2025 revenue and EPS outlook.

Pattern Detected

Recent earnings and guidance updates have often driven sizable moves (average around 6.35%), with several instances of negative reactions even when guidance was raised or outlooks improved.

Recent Company History

Over the last year, Illumina’s earnings cycle featured modest revenue trends and shifting guidance. Q4 2024 revenue was $4.3B with GAAP EPS of $5.61, followed by Q1–Q3 2025 quarters showing flat to slightly declining revenue but improving operating margins. Management initially cut FY 2025 guidance in Q1, then raised it in Q2 and again narrowed it upward in Q3, with non-GAAP EPS guidance moving to $4.65–$4.75. Today’s preliminary FY 2025 results with non-GAAP EPS of $4.76–$4.79 and flat constant-currency revenue connect directly to that evolving outlook.

Market Pulse Summary

This announcement provides preliminary Q4 and FY 2025 results, highlighting mid‑single‑digit quarter...

Analysis

This announcement provides preliminary Q4 and FY 2025 results, highlighting mid‑single‑digit quarterly growth but flat full‑year revenue and detailed GAAP vs non‑GAAP EPS ranges. It continues a year where guidance was adjusted several times and non‑GAAP metrics remained central to management’s framework. Investors may track how final audited numbers on February 5, 2026 compare with these prelims, alongside progress on the proposed SomaLogic acquisition, China‑related uncertainties, and the company’s ability to sustain ex‑China growth.

Key Terms

gaap, non-gaap, constant currency, free cash flow, +4 more

8 terms

gaap financial

"The company reports non-GAAP results for diluted earnings per share... financial measures calculated in accordance with GAAP."

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

non-gaap financial

"The company reports non-GAAP results for diluted earnings per share, net income, gross margin..."

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

constant currency financial

"up 5% from Q4 2024 (up 4% on a constant currency basis)"

Constant currency is a way of measuring financial results that removes the effects of changes in currency exchange rates. It allows for a clearer comparison of a company's performance over time by showing what the numbers would look like if exchange rates had stayed the same. This helps investors understand whether growth comes from actual business improvements or just currency fluctuations.

free cash flow financial

"and free cash flow (on a consolidated and, as applicable, segment basis) in addition to..."

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

hart-scott-rodino act regulatory

"approvals – such as under the Hart-Scott-Rodino Act in the United States or from government authorities..."

A U.S. antitrust law that requires parties to large mergers and acquisitions to notify federal regulators and wait a set period before closing the deal, so authorities can check whether the transaction would unfairly reduce competition. For investors, the process is like notifying a referee before a major team trade: it can reveal objections, trigger investigations, delay or block a deal, and therefore affect transaction timing, value and deal risk.

form 10-k regulatory

"including Form 10-K for the fiscal year ended December 29, 2024, filed with the SEC on February 12, 2025..."

A Form 10-K is a comprehensive report that publicly traded companies are required to file annually with regulators. It provides a detailed overview of a company's financial health, operations, and risks, similar to a detailed health report. Investors use this information to assess the company's performance and make informed decisions about buying or selling its stock.

form 10-q regulatory

"Form 10-Q for the fiscal quarter ended March 30, 2025, Form 10-Q for the fiscal quarter ended June 29, 2025..."

A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.

forward-looking statements regulatory

"Use of forward-looking statements This release may contain forward-looking statements that involve risks and uncertainties."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

AI-generated analysis. Not financial advice.

SAN DIEGO, Jan. 13, 2026 /PRNewswire/ -- Illumina, Inc. (Nasdaq: ILMN) ("Illumina" or the "company") today announced unaudited preliminary financial results for the fourth quarter and fiscal year 2025 ahead of its presentation at the 44th Annual J.P. Morgan Healthcare Conference on January 13, 2026 at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time). The webcast can be accessed through Illumina's website at investor.illumina.com.

Preliminary fourth quarter 2025 results:

• Revenue of approximately $1.155 billion, up 5% from Q4 2024 (up 4% on a constant currency basis)
• Ex-China revenue of approximately $1.100 billion, up 7% from Q4 2024 (and on a constant currency basis)
• GAAP diluted EPS of $2.14 to $2.17 and non-GAAP diluted EPS of $1.27 to $1.30

Preliminary fiscal year 2025 results:

• Revenue of approximately $4.34 billion, flat compared to 2024 (and on a constant currency basis)
• Ex-China revenue of approximately $4.10 billion, up 2% from 2024 (and on a constant currency basis)
• GAAP diluted EPS of $5.42 to $5.45 and non-GAAP diluted EPS of $4.76 to $4.79

As previously announced, the company expects to report its full fourth quarter and fiscal year 2025 results following the close of market on Thursday, February 5, 2026. The unaudited results in this press release are preliminary and subject to the completion of accounting and annual audit procedures and are therefore subject to adjustment.

Statement regarding use of non-GAAP financial measures
The company reports non-GAAP results for diluted earnings per share, net income, gross margin, operating expenses, including research and development expense, selling general and administrative expense, legal contingency and settlement, and goodwill and intangible impairment, operating income, operating margin, gross profit, other income (expense), tax provision, constant currency revenue and growth, and free cash flow (on a consolidated and, as applicable, segment basis) in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The company's financial measures under GAAP include substantial charges such as amortization of acquired intangible assets among others that are listed in the reconciliations of GAAP and non-GAAP financial measures included in this press release, as well as the effects of currency translation. Management has excluded the effects of these items in non-GAAP measures to assist investors in analyzing and assessing past and future operating performance. Non-GAAP net income, diluted earnings per share and operating margin are key components of the financial metrics utilized by the company's board of directors to measure, in part, management's performance and determine significant elements of management's compensation.

The company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between GAAP and non-GAAP results are presented in the tables of this release.

The company provides forward-looking guidance on a non-GAAP basis, including on a constant currency basis for revenue and revenue growth rates. The company is unable to provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP reported financial measures because it is unable to predict with reasonable certainty the impact of items such as acquisition-related expenses, fair value adjustments to contingent consideration, gains and losses from strategic investments, potential future asset impairments, restructuring activities, the ultimate outcome of pending litigation, and currency exchange rate fluctuations without unreasonable effort. These items are uncertain, inherently difficult to predict, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, the company is unable to address the significance of the unavailable information, which could be material to future results.

Use of forward-looking statements
This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors to which our business is subject that could cause actual results to differ materially from those in any forward-looking statements are: (i) changes in the rate of growth in the markets we serve, including the proteomics market; (ii) the volume, timing and mix of customer orders among our products and services; (iii) our ability to adjust our operating expenses to align with our revenue expectations; (iv) the completion of the proposed acquisition of SomaLogic, Inc. and certain other assets (the SomaLogic Business) from Standard BioTools Inc. on the anticipated terms and timeline, or at all, including the ability of the parties to obtain required regulatory approvals – such as under the Hart-Scott-Rodino Act in the United States or from government authorities that may have or assert jurisdiction outside the United States – and to satisfy other closing conditions; (v) our ability to successfully integrate the SomaLogic Business into our existing operations and the SomaLogic Business' technology and products into our portfolio; (vi) our ability to successfully manage partner and customer relationships in the proteomics market; (vii) uncertainty regarding the impact of our inclusion on the "unreliable entities list" by regulatory authorities in China; (viii) uncertainty regarding tariffs imposed or threatened by the U.S. government and its trading partners, and other possible tariffs or trade protection measures and our efforts to mitigate the impact of such tariffs; (ix) our ability to manufacture robust instrumentation and consumables, including the SomaLogic Business' products; (x) the success of products and services competitive with our own; (xi) challenges inherent in developing, manufacturing, and launching new products and services, including expanding or modifying manufacturing operations and reliance on third-party suppliers for critical components; (xii) the impact of recently launched or pre-announced products and services on existing products and services; (xiii) our ability to modify our business strategies to accomplish our desired operational goals; (xiv) our ability to realize the anticipated benefits from prior or future actions to streamline and improve our R&D processes, reduce our operating expenses and maximize our revenue growth; (xv) our ability to further develop and commercialize our instruments, consumables, and products; (xvi) to deploy new products, services, and applications, and to expand the markets for our technology platforms; (xvii) the risk of additional litigation arising against us in connection with the GRAIL acquisition; (xviii) our ability to obtain approval by third-party payors to reimburse patients for our products; (xix) our ability to obtain regulatory clearance for our products from government agencies; (xx) our ability to successfully partner with other companies and organizations to develop new products, expand markets, and grow our business; (xxi) uncertainty, or adverse economic and business conditions, including as a result of slowing or uncertain economic growth or armed conflict; (xxii) the application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments and (xxiii) legislative, regulatory and economic developments, together with other factors detailed in our filings with the Securities and Exchange Commission, including recent filings on Forms 10-K and 10-Q, or in information disclosed in public conference calls, the date and time of which are released beforehand. We undertake no obligation, and do not intend, to update these forward-looking statements, to review or confirm analysts' expectations, or to provide interim reports or updates on the progress of the current quarter.

About Illumina
Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit www.illumina.com and connect with us on X, Facebook, LinkedIn, Instagram, TikTok, and YouTube.

Illumina, Inc.
Preliminary Results of Operations - Non-GAAP
(unaudited)

Our performance and financial results are subject to risks and uncertainties, and actual results could differ materially from preliminary results set forth below. Some of the factors that could affect our financial results are included from time to time in the public reports filed with the Securities and Exchange Commission (SEC), including Form 10-K for the fiscal year ended December 29, 2024, filed with the SEC on February 12, 2025, Form 10-Q for the fiscal quarter ended March 30, 2025, Form 10-Q for the fiscal quarter ended June 29, 2025, and Form 10-Q for the fiscal quarter ended September 28, 2025. We assume no obligation to update any forward-looking statements or information.

The preliminary unaudited information included in the tables below is approximate and subject to change. As previously announced, we will report our fourth quarter and full year fiscal 2025 results on February 5, 2026. Revenue information for fiscal year 2024, including growth rates, is for our Core Illumina segment.

PRELIMINARY CONSTANT CURRENCY REVENUE:
	Three Months Ended						Year Ended
Dollars in millions	December 28, 2025		December 29, 2024		% Change		December 28, 2025		December 29, 2024		% Change
Preliminary revenue	$ 1,155		$       1,104		5 %		$ 4,339		$       4,332		— %
Less: Hedge effect	(4)		5				(5)		15
Revenue, excluding hedge effect	1,159		1,099				4,344		4,317
Less: Exchange rate effect	15		—				20		—
Constant currency revenue (a)	$ 1,144		$       1,099		4 %		$ 4,324		$       4,317		— %

 

PRELIMINARY CONSTANT CURRENCY REVENUE EXCLUDING GREATER CHINA:
	Three Months Ended						Year Ended
Dollars in millions	December 28, 2025		December 29, 2024		% Change		December 28, 2025		December 29, 2024		% Change
Preliminary revenue	$ 1,100		$       1,024		7 %		$ 4,096		$       4,024		2 %
Less: Hedge effect	(4)		3				(7)		10
Revenue, excluding hedge effect	1,104		1,021				4,103		4,014
Less: Exchange rate effect	15		—				21		—
Constant currency revenue (a)	$ 1,089		$       1,021		7 %		$ 4,082		$       4,014		2 %

 

RECONCILIATION BETWEEN PRELIMINARY GAAP AND NON-GAAP DILUTED EARNINGS PER SHARE:
	Fourth Quarter 2025		Fiscal Year 2025
Preliminary GAAP diluted earnings per share	$2.14 to $2.17		$5.42 to $5.45
Acquisition-related costs (c)	0.24		0.53
Transformational initiatives (d)	0.06		0.39
Intangible asset impairment	—		0.15
Strategic investment gain, net (e)	(1.24)		(2.13)
Other (f)	0.12		0.14
Income tax provision (g)	(0.05)		0.26
Preliminary non-GAAP diluted earnings per share (b)	$1.27 to $1.30		$4.76 to $4.79

(a)	Constant currency revenue growth, which is a non-GAAP financial measure, is calculated using comparative prior period foreign exchange rates to translate current period revenue, net of the effects of hedges.
(b)	Non-GAAP diluted earnings per share excludes the effects of the pro forma adjustments detailed above. Non- GAAP diluted earnings per share is a key component of the financial metrics utilized by the company's board of directors to measure, in part, management's performance and determine significant elements of management's compensation. Management has excluded the effects of these items to assist investors in analyzing and assessing past and future operating performance.
(c)	Amounts consist primarily of amortization of intangible assets, legal and other expenses related to the GRAIL and pending SomaLogic acquisitions, and fair value adjustments on our contingent consideration liabilities.
(d)	Amounts consist primarily of employee severance costs related to restructuring activities and costs related to implementation efforts to upgrade our ERP system.
(e)	Amounts consist primarily of mark-to-market adjustments and impairments from strategic investments.
(f)	Amounts consist primarily of a donation to the Illumina foundation, costs related to board membership changes, and legal contingency accruals.
(g)	Amounts represent the aggregate of the difference between book and tax accounting related to stock-based compensation cost, a one-time valuation allowance adjustment against deferred tax assets associated with certain U.S. foreign tax credits as a result of the U.S. tax legislation that was signed on July 4, 2025, and the tax impact related to the non-GAAP adjustments.

Investors:
Conor McNamara
+1.858.291.6421
ir@illumina.com

Media:
Christine Douglass
pr@illumina.com

 

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SOURCE Illumina, Inc.

FAQ

What did Illumina (ILMN) report for Q4 2025 revenue on Jan 13, 2026?

Q4 2025 revenue was approximately $1.155 billion, up 5% year-over-year (4% constant currency).

What were Illumina's preliminary GAAP and non-GAAP EPS ranges for fiscal 2025?

Preliminary GAAP diluted EPS was $5.42–$5.45; preliminary non-GAAP diluted EPS was $4.76–$4.79.

How did Illumina perform outside China in fiscal 2025 (ex-China revenue)?

Preliminary ex-China fiscal 2025 revenue was approximately $4.10 billion, up 2% versus 2024.

When will Illumina report its final Q4 and full-year 2025 results?

The company expects to report final fourth quarter and fiscal 2025 results after market close on Feb 5, 2026.

Why does Illumina present non-GAAP EPS that differ from GAAP EPS for 2025?

Non-GAAP EPS excludes items like acquisition costs, transformational initiative charges, and a $1.24 per-share strategic investment gain (Q4) that affect GAAP results.