Full Press Release Details
Announces Fiscal Year 2025 Non-GAAP Diluted EPS of Approximately $4.50
"We remain focused on achieving high-single-digit revenue growth by 2027, while expanding our margins," said Jacob Thaysen , CEO of Illumina. "We are confident in the large global market opportunity for our solutions, the strength of our business, and our strategy to continue to lead innovation in genomics and multiomics in support of our customers."
As the company recently highlighted, Illumina will continue expanding its multiomics portfolio with new roadmap technologies spanning genomics, spatial, single cell, and methylation, as well as a new multimodal data analysis platform. These solutions leverage the power of Illumina's leading NovaSeq X series platform and will enable researchers to derive breakthrough insights around the drivers of disease. The company will also continue to invest in its services, data, and software offerings that support its core sequencing and multiomics businesses. Each of these efforts supports Illumina's customers' important work and underpins Illumina's strategy as presented during its August 2024 Strategy Update.
Illumina also announced it expects Core Illumina fiscal 2025 non-GAAP diluted EPS of approximately $4.50 . The company is instituting an incremental approximately $100 million cost reduction program for fiscal 2025. These savings would mitigate the impact of a range of potential scenarios for a reduction in revenue and related operating income from the company's Greater China business. The cost reduction program includes optimizing stock-based compensation and non-labor spending and accelerating certain productivity measures.
"Our new fiscal 2025 guidance provides for limited further earnings contribution from China , and assumes a continuation of the macro trends we see today," said Ankur Dhingra , CFO of Illumina. "We will continue to invest in our growth strategy, while taking actions to achieve EPS of approximately $4.50 in 2025, and then grow from there."
Financial outlook and guidance The company provides forward-looking guidance on a non-GAAP basis. The company is unable to provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP reported financial measures because it is unable to predict with reasonable certainty the impact of items such as acquisition-related expenses, gains and losses from strategic investments, fair value adjustments to contingent consideration, potential future asset impairments, restructuring activities, and the ultimate outcome of pending litigation without unreasonable effort. These items are uncertain, inherently difficult to predict, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, the company is unable to address the significance of the unavailable information, which could be material to future results.
Statement regarding use of non-GAAP financial measures The company reports non-GAAP results for diluted earnings per share, net income, gross margin, operating expenses, including research and development expense, selling general and administrative expense, legal contingencies and settlement, and goodwill and intangible impairment, operating income, operating margin, gross profit, other income (expense), tax provision, constant currency revenue growth, and free cash flow (on a consolidated and, as applicable, segment basis) in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The company's financial measures under GAAP include substantial charges such as amortization of acquired intangible assets, among others, as well as the effects of currency translation. Management has excluded the effects of these items in non-GAAP measures to assist investors in analyzing and assessing past and future operating performance. Non-GAAP net income, diluted earnings per share and operating margin are key components of the financial metrics utilized by the company's board of directors to measure, in part, management's performance and determine significant elements of management's compensation.
The company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information, to more fully understand its business.
About Illumina Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit illumina.com and connect with us on X , Facebook , LinkedIn , Instagram , TikTok , and YouTube .
Investors: Salli Schwartz +1.858.291.6421 [email protected]
Media: Bonny Fowler +1.740.641.5579 [email protected]
SOURCE Illumina, Inc.