Illumina Inc
illumina.comHow Do They Make Money?
Sources
-
10-K for FY2025, filed Feb 12, 2026
FY2025 revenue by product or service ↗
Revenue, FY2025
$4.3B
Sources
-
10-K for FY2025, filed Feb 12, 2026
$4.3B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Consumables
|
74%
FY2022: 70%
|
Consumables, FY2025
$3.2B Sources
|
|
Instruments
|
11%
FY2022: 16%
|
Instruments, FY2025
$482M Sources
|
|
Service
|
15%
FY2022: 14%
|
Service, FY2025
$634M Sources
|
Do Revenues Turn Into Profits?
Yes. It kept 20 cents of every revenue dollar as net income in FY2025 and turned 21 cents into free cash flow.
Operating income, FY2025
Sources
10-K for FY2025, filed Feb 12, 2026
$807MView ↗
▲ Now profitable
vs FY2024 (−$833M, −19%)
Net income, FY2025
Sources
10-K for FY2025, filed Feb 12, 2026
$850MView ↗
▲ Now profitable
vs FY2024 (−$1.2B, −28%)
Free cash flow, FY2025
Sources
10-K for FY2025, filed Feb 12, 2026
$931MView ↗
▲ +31%
vs FY2024 ($709M, 16%)
How Are They Changing?
Since the FY2025 annual report
Latest quarter: Q2 FY2026, the three months to Jun 28, 2026
Consumables share of revenue
vs 76.6% in Q2 FY2025
Sources
10-Q for Q2 FY2026, filed Jul 31, 2026
Open tableView ↗
Growing. Revenue grew 34% in 4 years, from $3.2B in FY2020 to $4.3B in FY2025, about 8% a year.
Revenue over time
Consumables
Instruments
Service
$5B$2.5B$0
$3.2B
$751M
$3.2B
$728M
$3.1B
$704M
$717M
$3.2B
$716M
$3.2B
100%50%0%
71%
17%
70%
16%
68%
16%
16%
72%
16%
74%
15%
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