Quarterly ResultMay 4, 2026, 06:07 AM
Illumina Q1 Revenue $1.09B, Net Income $134M; Acquires SomaLogic
AI Summary
Illumina reported Q1 2026 revenue of $1.09 billion, a 4.8% increase year-over-year, with net income rising to $134 million and diluted EPS growing to $0.87. The company completed the acquisition of SomaLogic on January 30, 2026, for a total purchase price of $460 million, aiming to enhance its presence in the proteomics market and advance its multiomics strategy.
Key Highlights
- Acquired SomaLogic on Jan 30, 2026, for $460M to expand proteomics market.
- Q1 2026 total revenue increased 4.8% to $1.09 billion year-over-year.
- Q1 2026 net income rose 2.3% to $134 million year-over-year.
- Diluted EPS for Q1 2026 was $0.87, up from $0.82 year-over-year.
- Product revenue grew 4.2% to $917 million; service revenue increased 8.1% to $174 million.
- Greater China revenue declined 27.8% to $52 million; US & Canada revenue grew 6.3% to $590 million.
- Net cash used in investing activities was $(366) million, driven by acquisitions.
- Common stock repurchases totaled $(242) million in Q1 2026.