ILLUMINA, INC. (ILMN) Form 10-Q — Oct 30, 2026
Illumina's Q3 2026 revenue rose 4% year-over-year to $1.129 billion, with net income jumping 47% to $220 million and diluted EPS of $1.43 versus $0.98 a year ago. Gross margin expanded to 73.5% helped by a $42 million net benefit from IEEPA tariff refunds, and operating margin reached 27.0% versus 21.0% in Q3 2025, though management noted margins excluding the tariff benefit were relatively flat. The quarter included active capital management: Illumina issued $300 million of 4.950% notes due 2029, repaid its $500 million 2026 Term Notes at maturity, signed a new $1 billion revolving credit facility, and established a $1 billion commercial paper program after quarter-end.
Key figures
- Eps
- 1.43
- Revenue
- 1129000000
- Net Income
- 220000000
- Total Debt
- 1789000000
- Revenue Yoy
- 4% (Q3); 6% YTD ($3,380M vs $3,184M)
- Total Assets
- 6812000000
- Cash Position
- 1337000000
- Shares Outstanding
- 151200000
- Q3 2025 revenue
- 1084000000
- Q3 gross margin
- 73.5%
- Notes issued 2029
- 300000000
- Notes repaid 2026
- 500000000
- Ytd buyback spend
- 375000000
- Q3 2025 net income
- 150000000
- Q3 2025 diluted eps
- 0.98
- Q3 2026 diluted eps
- 1.43
- Q3 operating margin
- 27.0%
- Commercial paper program
- 1000000000
- Somalogic purchase price
- 460000000
- Revolving credit facility
- 1000000000
- Ieepa tariff refund benefit
- 79000000
- Remaining buyback authorization
- approximately $1.77 billion ($270M under 2024 program plus $1.5B under 2026 program)
- Tariff refund liability to customers
- 37000000
- Contingent consideration buyout payment
- 30000000
AI analysis
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