Illumina, Inc. announced its financial results for the second quarter of fiscal year 2025 on July 31, 2025, reporting Core Illumina revenue of $1.059 billion, which exceeded guidance despite a 3% year-over-year decline. The company delivered a non-GAAP diluted EPS of $1.19, marking a 9% increase year-over-year and surpassing expectations.
Operational excellence initiatives drove significant profitability improvements, with non-GAAP gross margin reaching 69.4% (a 200 basis point increase quarter-over-quarter) and non-GAAP operating margin expanding by 160 basis points year-over-year to 23.8%. The NovaSeq X transition continued its momentum, accounting for 69% of high-throughput gigabases shipped and 44% of high-throughput consumables revenue.
Illumina raised its non-GAAP operating margin guidance for fiscal year 2025 to approximately 22% to 22.5%. The company also reported robust cash flow provided by operations of $234 million and free cash flow of $204 million, ending the quarter with $1.16 billion in cash. Additionally, Illumina executed $380 million in share repurchases during Q2 2025, with $804 million remaining under its current authorization, demonstrating a commitment to shareholder returns despite ongoing pressures from U.S. research funding uncertainty and China export restrictions.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.