Illumina Inc. (ILMN) financial statements: income statement, balance sheet and cash flow

Illumina Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 28, 2025 · FY), Illumina Inc. reported revenue of $4.3B (-0.7% year on year) and net income of $850.0M (+169.5% year on year).

Income statement

Illumina Inc. income statement, fiscal years

Line item	Dec 28, 2025 · FY	Dec 29, 2024 · FY	Dec 31, 2023 · FY	Jan 1, 2023 · FY
Total revenue	$4.3B	$4.4B	$4.5B	$4.6B
Cost of revenue	$1.4B	$1.4B	$1.6B	$1.4B
Amortization of acquired intangible assets	$66.0M	$127.0M	$191.0M	$173.0M
Total cost of revenue	$1.5B	$1.5B	$1.8B	$1.6B
Gross profit	$2.9B	$2.9B	$2.7B	$3.0B
Research and development	$967.0M	$1.2B	$1.4B	$1.3B
Selling, general and administrative	$1.1B	$1.1B	$1.6B	$1.3B
Goodwill and intangible impairment	$0	$1.9B	$827.0M	—
Legal contingency and settlement	$10.0M	($456.0M)	$20.0M	$619.0M
Total operating expense	$2.1B	$3.7B	$3.8B	$7.2B
Income (loss) from operations	$807.0M	($833.0M)	($1.1B)	($4.2B)
Interest income	$40.0M	$46.0M	$58.0M	$11.0M
Interest expense	($101.0M)	($100.0M)	($77.0M)	($26.0M)
Other income (expense), net	$340.0M	($292.0M)	($29.0M)	($142.0M)
Total other income (expense), net	$279.0M	($346.0M)	($48.0M)	($157.0M)
Income (loss) before income taxes	$1.1B	($1.2B)	($1.1B)	($4.3B)
Provision for income taxes	$236.0M	$44.0M	$44.0M	$68.0M
Net income (loss)	$850.0M	($1.2B)	($1.2B)	—
Basic (in dollars per share)	$5.47	-$7.69	-$7.34	-$28.00
Diluted (in dollars per share)	$5.45	-$7.69	-$7.34	-$28.00
Basic (in shares)	155.0M	159.0M	158.0M	157.0M
Diluted (in shares)	156.0M	159.0M	158.0M	157.0M

Illumina Inc. income statement, quarters

Line item	Jun 28, 2026 · Q2	Mar 29, 2026 · Q1	Sep 28, 2025 · Q3	Jun 29, 2025 · Q2
Total revenue	$1.2B	$1.1B	$1.1B	$1.1B
Cost of revenue	$371.0M	$353.0M	$335.0M	$347.0M
Amortization of acquired intangible assets	$18.0M	$17.0M	$16.0M	$17.0M
Total cost of revenue	$389.0M	$370.0M	$351.0M	$364.0M
Gross profit	$770.0M	$721.0M	$733.0M	$695.0M
Research and development	$252.0M	$240.0M	$229.0M	$247.0M
Selling, general and administrative	$273.0M	$272.0M	$277.0M	$234.0M
Total operating expense	$525.0M	$512.0M	$506.0M	$481.0M
Income from operations	$245.0M	$209.0M	$227.0M	$214.0M
Interest income	$8.0M	$11.0M	$9.0M	$10.0M
Interest expense	($24.0M)	($24.0M)	($25.0M)	($25.0M)
Other income (expense), net	$31.0M	($39.0M)	$9.0M	$107.0M
Total other income (expense), net	$15.0M	($52.0M)	($7.0M)	$92.0M
Income before income taxes	$260.0M	$157.0M	$220.0M	$306.0M
Provision for income taxes	$53.0M	$23.0M	$70.0M	$71.0M
Net income	$207.0M	$134.0M	$150.0M	$235.0M
Basic (in dollars per share)	$1.37	$0.88	$0.98	$1.49
Diluted (in dollars per share)	$1.35	$0.87	$0.98	$1.49
Basic (in shares)	151.0M	153.0M	153.0M	157.0M
Diluted (in shares)	153.0M	154.0M	154.0M	157.0M

Balance sheet

Illumina Inc. balance sheet, fiscal years

Line item	Dec 28, 2025 · FY	Dec 29, 2024 · FY	Dec 31, 2023 · FY	Jan 1, 2023 · FY
Cash and cash equivalents	$1.4B	$1.1B	$1.0B	$2.0B
Short-term investments	$215.0M	$93.0M	$6.0M	$26.0M
Accounts receivable, net	$854.0M	$735.0M	$734.0M	$671.0M
Inventory, net	$564.0M	$547.0M	$587.0M	$568.0M
Prepaid expenses and other current assets	$238.0M	$244.0M	$234.0M	$285.0M
Total current assets	$3.3B	$2.7B	$2.6B	$3.6B
Property and equipment, net	$759.0M	$815.0M	$1.0B	$1.1B
Operating lease right-of-use assets	$370.0M	$419.0M	$544.0M	$653.0M
Goodwill	$1.1B	$1.1B	$2.5B	$3.2B
Intangible assets, net	$210.0M	$295.0M	$3.0B	$3.3B
Deferred tax assets, net	$454.0M	$567.0M	—	—
Other assets	$449.0M	$348.0M	$413.0M	$423.0M
Total assets	$6.6B	$6.3B	$10.1B	$12.3B
Accounts payable	$240.0M	$221.0M	$245.0M	$293.0M
Accrued liabilities	$846.0M	$827.0M	$1.3B	$1.2B
Term debt, current portion	$499.0M	$499.0M	$0	$500.0M
Total current liabilities	$1.6B	$1.5B	$1.6B	$2.8B
Operating lease liabilities	$486.0M	$554.0M	$687.0M	$744.0M
Term debt	$1.5B	$1.5B	$1.5B	—
Other long-term liabilities	$360.0M	$339.0M	$620.0M	$649.0M
Preferred stock, $0.01 par value, 10 million shares authorized; no shares issued and outstanding at December 28, 2025 and December 29, 2024	0	0	0	0
Common stock, $0.01 par value, 320 million shares authorized; 201 million shares issued and 153 million outstanding at December 28, 2025; 200 million shares issued and 159 million outstanding at December 29, 2024	2.0M	2.0M	2.0M	2.0M
Additional paid-in capital	$7.8B	$7.5B	$9.6B	$9.2B
Accumulated other comprehensive (loss) income	($10.0M)	$22.0M	($1.0M)	$3.0M
Accumulated deficit	($392.0M)	($1.2B)	($19.0M)	$1.1B
Treasury stock, at cost; 48 million shares and 41 million shares at December 28, 2025 and December 29, 2024, respectively	-4.7B	-3.9B	-3.8B	-3.8B
Total stockholders’ equity	$2.7B	$2.4B	$5.7B	$6.6B
Total liabilities and stockholders’ equity	$6.6B	$6.3B	$10.1B	$12.3B

Illumina Inc. balance sheet, quarters

Line item	Jun 28, 2026	Mar 29, 2026	Sep 28, 2025	Jun 29, 2025
Cash and cash equivalents	$1.0B	$1.1B	$1.1B	$934.0M
Short-term investments	$128.0M	$66.0M	$228.0M	$221.0M
Accounts receivable, net	$764.0M	$738.0M	$729.0M	$701.0M
Inventory, net	$629.0M	$611.0M	$590.0M	$575.0M
Prepaid expenses and other current assets	$273.0M	$234.0M	$199.0M	$210.0M
Total current assets	$2.8B	$2.7B	$2.8B	$2.6B
Property and equipment, net	$745.0M	$755.0M	$748.0M	$764.0M
Operating lease right-of-use assets	$362.0M	$371.0M	$382.0M	$397.0M
Goodwill	$1.3B	$1.3B	$1.1B	$1.1B
Intangible assets, net	$410.0M	$430.0M	$225.0M	$238.0M
Deferred tax assets, net	$439.0M	$458.0M	$490.0M	$534.0M
Other assets	$576.0M	$523.0M	$423.0M	$400.0M
Total assets	$6.7B	$6.6B	$6.2B	$6.1B
Accounts payable	$230.0M	$218.0M	$218.0M	$200.0M
Accrued liabilities	$848.0M	$849.0M	$746.0M	$762.0M
Term debt, current portion	$500.0M	$499.0M	$998.0M	$499.0M
Total current liabilities	$1.6B	$1.6B	$2.0B	$1.5B
Operating lease liabilities	$454.0M	$475.0M	$506.0M	$528.0M
Term debt	$1.5B	$1.5B	$994.0M	$1.5B
Other long-term liabilities	$289.0M	$352.0M	$334.0M	$348.0M
Common stock	$2.0M	$2.0M	$2.0M	$2.0M
Additional paid-in capital	$7.9B	$7.9B	$7.8B	$7.7B
Accumulated other comprehensive income (loss)	$8.0M	$1.0M	($12.0M)	($21.0M)
Accumulated deficit	($51.0M)	($258.0M)	($726.0M)	($876.0M)
Treasury stock, at cost	($5.1B)	($4.9B)	($4.6B)	($4.5B)
Total stockholders’ equity	$2.8B	$2.7B	$2.4B	$2.3B
Total liabilities and stockholders’ equity	$6.7B	$6.6B	$6.2B	$6.1B

Cash flow statement

Illumina Inc. cash flow statement, fiscal years

Line item	Dec 28, 2025 · FY	Dec 29, 2024 · FY	Dec 31, 2023 · FY	Jan 1, 2023 · FY
Net income (loss)	$850.0M	($1.2B)	($1.2B)	—
Depreciation expense	$203.0M	$224.0M	$235.0M	$215.0M
Amortization of intangible assets	$67.0M	$130.0M	$197.0M	$179.0M
Share-based compensation expense	$275.0M	$370.0M	$380.0M	$366.0M
Deferred income taxes	$119.0M	($112.0M)	($33.0M)	($23.0M)
Net (gains) losses on strategic investments	($328.0M)	$312.0M	$40.0M	$122.0M
Change in fair value of contingent consideration liabilities	($18.0M)	($315.0M)	($24.0M)	($205.0M)
Goodwill and intangible impairment	$23.0M	—	—	—
Property and equipment and right-of-use asset impairment	$4.0M	$46.0M	$100.0M	—
Non-cash charitable contribution	$19.0M	—	—	—
Gain on Helix contingent value right	$0	($15.0M)	($10.0M)	$7.0M
Other	$18.0M	$14.0M	$10.0M	$17.0M
Accounts receivable	($108.0M)	($25.0M)	($40.0M)	($12.0M)
Inventory	($17.0M)	$19.0M	($20.0M)	($135.0M)
Prepaid expenses and other current assets	($8.0M)	($14.0M)	$11.0M	$16.0M
Operating lease right-of-use assets and liabilities, net	($34.0M)	($32.0M)	($16.0M)	($8.0M)
Other assets	($21.0M)	($15.0M)	$5.0M	$19.0M
Accounts payable	$2.0M	($4.0M)	($44.0M)	($38.0M)
Accrued liabilities	$0	($440.0M)	$15.0M	$381.0M
Other long-term liabilities	$33.0M	$28.0M	($1.0M)	($19.0M)
Net cash provided by operating activities	$1.1B	$837.0M	$478.0M	$392.0M
Net purchases of property and equipment	($148.0M)	($128.0M)	($195.0M)	($286.0M)
Net sales (purchases) of strategic investments	$103.0M	($52.0M)	($6.0M)	($40.0M)
Cash paid for acquisitions and intangible assets, net of cash acquired	($10.0M)	($81.0M)	($29.0M)	($85.0M)
Cash received for Helix contingent value right	$0	$83.0M	—	—
Net cash used in investing activities	($55.0M)	($178.0M)	($231.0M)	($591.0M)
Common stock repurchases	($742.0M)	($116.0M)	—	$0
Taxes paid related to net share settlement of equity awards	($40.0M)	($32.0M)	($40.0M)	($54.0M)
Proceeds from issuance of common stock	$44.0M	$56.0M	$67.0M	$63.0M
Payments on contingent consideration liabilities	($1.0M)	($1.0M)	($1.0M)	$0
Proceeds from debt, net of issuance costs	$495.0M	($1.2B)	—	—
Payments on debt obligations	($500.0M)	($750.0M)	($1.2B)	—
GRAIL cash deconsolidated as a result of spin-off	$0	($968.0M)	—	—
Net cash used in financing activities	($744.0M)	($570.0M)	($1.2B)	$1.0B
Effect of exchange rate changes on cash and cash equivalents	$11.0M	($10.0M)	$0	($22.0M)
Net increase (decrease) in cash and cash equivalents	$291.0M	$79.0M	($963.0M)	$779.0M
Cash and cash equivalents at beginning of year	$1.1B	$1.1B	$2.0B	$1.2B
Cash and cash equivalents at end of year	$1.4B	—	$1.0B	$2.0B
Cash paid for interest	$95.0M	$83.0M	$73.0M	—
Cash paid for income taxes (see Note 10)	$73.0M	$105.0M	$65.0M	$122.0M
Cash paid for operating lease liabilities	$114.0M	$132.0M	$123.0M	$112.0M
Purchases of property and equipment included in accounts payable and accrued liabilities	$22.0M	$4.0M	—	—
GRAIL net assets, excluding cash and cash equivalents, deconsolidated as a result of spin-off	$0	$1.8B	—	—

Illumina Inc. cash flow statement, quarters

Line item	Jun 28, 2026 · YTD	Mar 29, 2026 · Q1	Sep 28, 2025 · YTD	Jun 29, 2025 · YTD
Net income	$340.0M	$134.0M	$516.0M	$366.0M
Depreciation expense	$102.0M	$51.0M	$153.0M	$103.0M
Amortization of intangible assets	$37.0M	$18.0M	$51.0M	$34.0M
Share-based compensation expense	$133.0M	$60.0M	$212.0M	$142.0M
Deferred income taxes	$18.0M	($3.0M)	$82.0M	$41.0M
Net losses (gains) on investments	$16.0M	$38.0M	($137.0M)	($133.0M)
Change in fair value of contingent consideration liabilities	($32.0M)	($16.0M)	($29.0M)	($32.0M)
Intangible impairment	$0	—	—	—
Other	$4.0M	$8.0M	$18.0M	$9.0M
Accounts receivable	$92.0M	$118.0M	$13.0M	$49.0M
Inventory	($31.0M)	($13.0M)	($43.0M)	($28.0M)
Prepaid expenses and other current assets	($9.0M)	($2.0M)	($1.0M)	$11.0M
Operating lease right-of-use assets and liabilities, net	($18.0M)	($9.0M)	($25.0M)	($17.0M)
Other assets	($72.0M)	($26.0M)	($13.0M)	($3.0M)
Accounts payable	($2.0M)	($12.0M)	($13.0M)	($26.0M)
Accrued liabilities	($24.0M)	($47.0M)	($69.0M)	($91.0M)
Other long-term liabilities	($64.0M)	($10.0M)	$16.0M	$26.0M
Net cash provided by operating activities	$490.0M	$289.0M	$758.0M	$474.0M
Net purchases of property and equipment	($78.0M)	($38.0M)	($93.0M)	($62.0M)
Net sales (purchases) of investments	$32.0M	$87.0M	($63.0M)	($43.0M)
Cash paid for acquisitions and intangible assets, net of cash acquired	($417.0M)	($415.0M)	($7.0M)	($7.0M)
Payment for contingent consideration	($25.0M)	—	—	—
Net cash used in investing activities	($488.0M)	($366.0M)	($163.0M)	($112.0M)
Common stock repurchases, inclusive of excise tax	($370.0M)	($242.0M)	($700.0M)	($570.0M)
Taxes paid related to net share settlement of equity awards	($33.0M)	($33.0M)	($24.0M)	($23.0M)
Proceeds from issuance of common stock	$24.0M	$24.0M	$44.0M	$28.0M
Payments on contingent consideration liabilities	($1.0M)	—	($1.0M)	($1.0M)
Net cash used in financing activities	($380.0M)	($251.0M)	($681.0M)	($566.0M)
Effect of exchange rate changes on cash and cash equivalents	$0	($1.0M)	$9.0M	$11.0M
Net decrease in cash and cash equivalents	($378.0M)	($329.0M)	($77.0M)	($193.0M)
Cash and cash equivalents at beginning of period	$1.4B	$1.4B	$1.1B	$1.1B
Cash and cash equivalents at end of period	$1.0B	$1.1B	$1.1B	$934.0M

Illumina Inc. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.