Illumina develops DNA sequencing, array-based, informatics and proteomics technologies for research, clinical and applied markets. Company news commonly covers sequencing instruments and consumables, NovaSeq X demand, DRAGEN software releases, TruPath Genome analytical support, and applications in oncology, reproductive health, agriculture, rare disease and drug discovery.
Illumina updates also include collaborations around precision oncology testing, preventive and population genomics, pediatric cancer and rare disease data, and the Alliance for Genomic Discovery. Financial and corporate news covers revenue trends, operating margins, earnings guidance, share repurchase authorizations, acquisitions in multiomics and proteomics, and board or management changes.
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Illumina reported revenue of $1.09 billion for Q1 2023, marking a 1% increase from Q4 2022 but a 11% decrease from Q1 2022. GAAP diluted EPS was $0.02, down from $0.55 a year prior. Non-GAAP diluted EPS was $0.08, compared to $1.07 in Q1 2022. The company reiterated its 2023 revenue guidance of 7% to 10% growth, with Core Illumina expected to grow by 6% to 9% and GRAIL revenue projected between $90 million and $110 million. Illumina anticipates a GAAP diluted loss per share in the range of $(0.28) to $(0.03), while maintaining non-GAAP EPS guidance of $1.25 to $1.50. The company is committed to achieving non-GAAP operating margins of 25% in 2024 and 27% in 2025, also announcing plans for over $100 million in annualized cost savings.