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Illumina (ILMN) Q4 FY2021 earnings: revenue $1.2 billion, up 25.8% on the year

Illumina, Inc. (ILMN) reported revenue of $1.2 billion for Q4 FY2021, the quarter ended 2 January 2022, up 25.8% on the same quarter a year earlier. Net income was $113 million, down 56.0% on the year, and diluted earnings per share $0.70. The figures are the company's own, from the 10-K it filed with the SEC on 18 February 2022.

Revenue
$1.2 billion
+25.8% on the year · +8.2% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
3.5%
14.0% a year earlier
Q1 FY2020Q4 FY2021
Net income
$113 million
-56.0% on the year · -64.4% on the quarter
Q1 FY2020Q4 FY2021
Diluted EPS
$0.70
-60.0% on the year · -66.3% on the quarter
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue1,1991,108953+8.2%+25.8%
Cost of revenue381n/an/a
Gross profit818n/an/a
Gross margin68.2%n/an/a
Research and development350n/an/a
Selling, general and administrative426n/an/a
Operating income42.0-545133-68.4%
Operating margin3.5%-49.2%14.0%
Interest expense12.0n/an/a
Pre-tax income88.0n/an/a
Income tax-25.0n/an/a
Effective tax rate-28.4%n/an/a
Net income113317257-64.4%-56.0%
Net margin9.4%n/an/a
Diluted EPS$0.70$2.08$1.75-66.3%-60.0%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow282n/an/a
Capital expenditure70.0n/an/a
Free cash flow212n/an/a
Free cash flow margin17.7%n/an/a
Cash from investing0.0n/an/a
Cash from financing-129n/an/a
Depreciation and amortisation89.065.051.0+36.9%+74.5%
Share-based compensation98.0n/an/a
Diluted shares, weighted151m153m148m-1.3%+2.0%
Shares outstanding at period end157m156m146m+0.4%+7.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity10,74010,5934,694+1.4%+128.8%
Debt1,6951,6871,184+0.5%+43.2%
Operating lease liabilities774n/an/a
Other liabilities2,008n/an/a
Total liabilities and equity15,217n/an/a
Fixed assets1,024n/an/a
Goodwill7,113n/an/a
Intangible assets3,250n/an/a
Investments107n/an/a
Cash and equivalents1,2321,0801,810+14.1%-31.9%
Receivables648n/an/a
Inventory431n/an/a
Other assets1,412n/an/a
Total assets15,217n/an/a

Questions

What was Illumina's revenue in Q4 FY2021?

Illumina (ILMN) reported revenue of $1.2 billion for Q4 FY2021, the quarter ended 2 January 2022, up 25.8% on the same quarter a year earlier.

How much did Illumina earn in Q4 FY2021?

Net income for Q4 FY2021 was $113 million, down 56.0% on the year, and diluted earnings per share $0.70.

When did Illumina report Q4 FY2021 results?

Illumina filed its 10-K for the year that ended with the quarter on 18 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023 †Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue1,1991,2231,1621,1151,0841,0871,1761,1191,1221,0761,1121,0801,1041,0411,0591,0841,1591,0911,1591,129
Cost of revenue381408395398411432444435449409391335376358364351400370389299
Gross profit818815767717673655732684673667721745728683695733759721770830
Gross margin68%67%66%64%62%60%62%61%60%62%65%69%66%66%66%68%65%66%66%74%
R&D350323327325346341358315340339325253252252247229239240252244
SG&A426308410146433378462303481439147239267267234277308272273281
Operating income42.0184-579-3,657-127-64.0-88.0-754-163-111-1,637741174164214227202209245305
Operating margin4%15%-50%-328%-12%-6%-7%-67%-15%-10%-147%69%16%16%20%21%17%19%21%27%
Interest expense12.06.06.06.08.020.019.019.019.018.020.036.026.025.025.025.026.024.024.024.0
Pre-tax income88.0140-637-3,672-167-78.0-89.0-782-168-109-1,976720186182306220378157260264
Tax rate-28%39%n/an/an/an/an/an/an/an/an/a2%0%28%23%32%12%15%20%17%
Net income11386.0-535-3,816-1393.0-234-754-176-126-1,988705186131235150334134207220
Net margin9%7%-46%-342%-13%0%-20%-67%-16%-12%-179%65%17%13%22%14%29%12%18%19%
Diluted EPS$0.70$0.55-$3.40-$24.26-$0.89$0.02-$1.48-$4.77-$1.11-$0.79-$12.48$4.42$1.17$0.82$1.49$0.98$2.16$0.87$1.35$1.43
Operating cash flow282172125-52.014710.010513922477.080.0316364240234284321289201419
Capital expenditure70.061.071.066.088.052.047.045.051.036.031.032.029.032.030.031.055.038.040.040.0
Free cash flow21211154.0-11859.0-42.058.094.017341.049.0284335208204253266251161379
Buybacksn/an/an/an/an/an/an/an/an/a0.00.099.017.020037013042.02421289.0
Shares outstanding157m157m157m157m158m158m158m159m159m159m159m159m159m158m154m153m153m151m151m151m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 2 January 2022, filed 18 February 2022: the filing.