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ILMN · Q2 2026
Archived report (Q2 2026). Latest deep dive →
The quarter in brief
Illumina's revenue rose 9.4% to $1.16B and operating income 14.5% to $245M, but net income fell 11.9% to $207M and diluted EPS to $1.35 from $1.49.
Net income
$207M
down 11.9% y/y
Total revenue
$1,159M
up 9.4% y/y
Income from operations
$245M
up 14.5% y/y
Gross profit
$770M
up 10.8% y/y
All figures in $M.
| Line item | Amount and change |
|---|---|
| Product revenue | $982 · +7.7% |
| Service and other revenue | $177 · +20.4% |
| Total revenue | $1,159 · +9.4% |
| Cost of product revenue | $291 · +5.4% |
| Cost of service and other revenue | $80 · +12.7% |
| Amortization of acquired intangible assets | $18 · +5.9% |
| Gross profit | $770 · +10.8% · 66.4% margin |
| Research and development | $252 · +2.0% |
| Selling, general and administrative | $273 · +16.7% |
| Income from operations | $245 · +14.5% · 21.1% margin |
| Other income (expense), net | $15 · −83.7% |
| Income before income taxes | $260 · −15.0% |
| Provision for income taxes | $53 · −25.4% · 20.4% effective rate |
| Net income | $207 · −11.9% · $1.35/sh · 17.9% margin |
Verdict: Illumina's revenue rose 9.4% to $1.16B and operating income 14.5% to $245M, but net income fell 11.9% to $207M and diluted EPS to $1.35 from $1.49.
Total 2026 revenue guidance is $4.60-$4.64 billion, versus prior guidance of $4.52-$4.62 billion.
Source and notation
Source: ILMN press release, 8-K EX-99.1 of 07/30/2026 (SEC EDGAR).
Open as an image: ILMN, Q2 2026 (PNG) ↗ · for sharing and presentations · free to reuse, CC BY 4.0
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Chart: “ILMN Q2 2026: where the revenue went” by Who Reports Today, https://whoreportstoday.com/t/ilmn/q2-2026. Licensed under CC BY 4.0.
<figure> <a href="https://whoreportstoday.com/t/ilmn/q2-2026"><img src="https://whoreportstoday.com/t/ilmn/q2-2026/sankey.png" alt="ILMN Q2 2026: where the revenue went" loading="lazy" style="max-width:100%;height:auto"></a> <figcaption>Source: <a href="https://whoreportstoday.com/t/ilmn/q2-2026">Who Reports Today</a>, licensed under <a href="https://creativecommons.org/licenses/by/4.0/">CC BY 4.0</a></figcaption> </figure>
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<a href="https://whoreportstoday.com/t/ilmn/q2-2026">ILMN Q2 2026 earnings chart (Who Reports Today)</a>
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- Operating income was $245M (+14.5% y/y), an operating margin of 21.1% vs 20.2% a year ago.
- Gross profit of $770M is a gross margin of 66.4% vs 65.6% a year ago.
- Income tax of $53.0M implies an effective rate of 20.4% vs 23.2% a year ago.
- Diluted EPS was $1.35 vs $1.49 a year ago (−9.4%), while net income changed −11.9%.
What distorts the picture in this report and what to watch beyond the headlines.
ILMN — a genomics company that makes DNA sequencing and microarray systems, the consumables they run on and analysis software for research centers, universities, hospitals, clinical labs and drugmakers.
It reports a single segment, Core Illumina, earning revenue from consumables, instrument sales and service. · Source: annual report (Form 10-K, SEC)
Heads-up
- net income fell 12% y/y in Q2 2026
Net income for Q2 2026: $207M, −12% y/y. In the report's figures: costs grew faster than revenue: selling, general and administrative +17% y/y. Based on the Q2 2026 report.
The company's report ↗More reports: INCY · Q2 2026 · IQV · Q3 2026 · ISRG · Q3 2026 · JNJ · Q3 2026 · LH · Q3 2026 · LLY · Q3 2026 · MCK · Q1 FY2027 · MDT · Q1 2027 · MRK · Q2 2026 · MRNA · Q2 2026 · all reports