Illumina (ILMN) FY2025 results: revenue $4.3 billion, down 0.7% on the year

Illumina makes the instruments and consumables used to read DNA. Its tools are used to study genetic variation and function, which the filing frames as advancing disease research, drug development and the creation of molecular diagnostic tests. Most of what it sells is sequencing and array instruments plus the consumables that run on them, meaning reagents, flow cells and library preparation, and it also performs services. The split matters: instruments were 11 percent of what the company sold in 2025, against 12 percent in 2024 and 16 percent in 2023, while consumables were 74 percent, up from 72 and 68 percent, and services and other 15 percent. Arrays specifically were 8 percent of the 2025 total, against 9 percent in each of the two prior years. The global workforce at 28 December 2025 was approximately 8,600 full-time employees, 50 part-time and 1,430 contingent workers, roughly 4,740 of them in the Americas.

Sequencing

DNA sequencing determines the order of the nucleotide bases in a sample. Customers use the platforms for whole-genome, de novo, exome and RNA sequencing and for targeted resequencing of particular genes. The chemistry is proprietary reversible terminator-based sequencing, which the company calls sequencing by synthesis, tracking labelled nucleotides as the DNA chain is copied in a massively parallel fashion; XLEAP-SBS is the current version, and the filing states it allows more than 20,000 human genomes per year per instrument. The platforms generate between 500 megabases and 16.0 terabases of genomic data in a single run depending on the instrument and application, at different price points per gigabase. The first sequencing system launched in 2007. The NovaSeq X Plus, launched in 2023, is the production-scale system and the filing says it can sequence a human genome for as little as $200. The MiSeq i100 series, launched in 2024, is the benchtop system, with room-temperature reagents.

Arrays

Arrays handle SNP genotyping, copy number variation analysis and methylation analysis, detecting millions of known genetic or epigenetic markers on a single array, and are used in agrigenomics, cytogenetics, pharmacogenomics, oncology, disease risk screening and large-scale research. BeadArray technology combines microscopic beads with a substrate so many assays run at once, and the substrate size, shape and format and the bead types vary by market. The iScan System and the NextSeq 550 System image the arrays.

Informatics

Software sits around the instruments across sample preparation, instrument control and post-run analysis. The BaseSpace Informatics Suite integrates directly with the sequencers so customers can manage samples and runs, process raw genomic data and share it. The DRAGEN Bio-IT Platform handles secondary analysis across whole genomes, whole exomes, germline and somatic datasets and RNA sequencing. Illumina Connected Analytics is a cloud-based platform for large volumes of multi-omic data, and Illumina Connected Multiomics extends it across genomics, transcriptomics, proteomics and other data types. Two products are for research use only and not for diagnostic procedures: Emedgene, an AI-driven genomic interpretation platform, and Illumina Connected Insights, which aggregates curated knowledge sources, public databases and variant annotations into one research environment.

Who buys it

The core market has historically been life sciences research: laboratories at universities, research centres and government institutions, plus biotechnology and pharmaceutical companies, working across targeted, exome and whole-genome sequencing, genetic variation, gene expression, epigenetics and metagenomics. Applied markets include consumer genomics, where customers provide personalised genetic data to individuals, and agrigenomics, where marker-based applications accelerate breeding of crops and livestock. The clinical side runs through oncology, genetic health and reproductive health. In oncology, customers identify genetic predisposition, find molecular changes in a tumour that targeted therapies may address, and detect traces of cancer in blood signalling an undetected tumour or a recurrence. In reproductive health the focus is noninvasive prenatal testing, identifying fetal chromosomal abnormalities from cell-free DNA in maternal blood.

Selling and making

Products are marketed and distributed directly in North America, Europe, Latin America and the Asia-Pacific region, and through life-science distributors in certain markets within Europe, Asia-Pacific, Latin America, the Middle East and Africa. The company manufactures the platforms and the reagent kits itself, and states that it increased manufacturing capability and capacity in 2025 and expects to do so again in 2026. Processes continue to be automated to handle rising product complexity and volume, and the key manufacturing and distribution facilities are certified to ISO 13485.

From Illumina's annual report on Form 10-K for the year ended 28 December 2025. The filing carries no Item 1 or Item 7 heading in its body, using a cross-reference index instead, so nothing here was located by section name. The filing

Written from the 10-K filed 12 February 2026: read the full 10-K.