Illumina Reports Q3 2026 Results and Raises FY 2026 Revenue and EPS Guidance

Summary of Illumina, Inc. (ILMN) Q3 Fiscal Year 2026 Results

Illumina, Inc. filed a Form 8-K under Item 2.02 detailing its financial results for the third quarter ended September 27, 2026, and updated full-year 2026 guidance.

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Key Q3 2026 Financial Highlights

• Revenue:
  • Reported revenue of $1.129 billion, up 4.2% year-over-year compared to $1.084 billion in Q3 2025.
  • Revenue excluding tariff refunds was $1.166 billion, representing 4.7% rest-of-world (ROW) organic revenue growth after excluding currency, acquisitions, and Greater China impacts.
• Profitability & Margins:
  • Gross Margin: Reported GAAP gross margin was 73.5% (vs. 67.6% in Q3 2025); Non-GAAP gross margin excluding tariff refunds was 69.4% (vs. 69.2% in Q3 2025).
  • Operating Profit: GAAP operating profit was $305 million (27.0% margin); Non-GAAP operating profit excluding tariff refunds was $292 million (25.0% margin).
• Diluted EPS:
  • GAAP diluted EPS reached $1.43 (compared to $0.98 in Q3 2025).
  • Non-GAAP diluted EPS excluding tariff refunds was $1.44 (compared to $1.34 in Q3 2025).
• Cash Flow and Balance Sheet:
  • Cash flow from operations was $419 million, compared to $284 million in Q3 2025.
  • Free cash flow reached $378 million after $41 million in capital expenditures.
  • Total cash, cash equivalents, and short-term investments stood at $1.337 billion as of September 27, 2026.

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Raised Full-Year Fiscal 2026 Guidance (Excluding Tariff Refunds)

• Total Revenue: Raised to $4.64 billion – $4.66 billion (previously $4.60 billion – $4.64 billion).
• Organic Revenue Growth: Projected >4% total organic growth and >5% ROW organic growth (both unchanged).
• Non-GAAP Operating Margin: Increased to 23.6% (previously 23.4% – 23.6%).
• Non-GAAP Diluted EPS: Raised to $5.40 – $5.45 (previously $5.30 – $5.40).