Illumina (ILMN) Q2 FY2026 earnings: revenue $1.2 billion, up 9.4% on the year
Illumina, Inc. (ILMN) reported revenue of $1.2 billion for Q2 FY2026, the quarter ended 28 June 2026, up 9.4% on the same quarter a year earlier. Net income was $207 million, down 11.9% on the year, and diluted earnings per share $1.35. The figures are the company's own, from the 10-Q it filed with the SEC on 31 July 2026.
Revenue
$1.2 billion
+9.4% on the year · +6.2% on the quarter
Q3 FY2024Q2 FY2026
Operating margin
21.1%
20.2% a year earlier
Q3 FY2024Q2 FY2026
Net income
$207 million
-11.9% on the year · +54.5% on the quarter
Q3 FY2024Q2 FY2026
Diluted EPS
$1.35
-9.4% on the year · +55.2% on the quarter
Q3 FY2024Q2 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 3 raised, 1 kept.
Revenue grew 9.5% from Q2 2025: Revenue was $1.16 billion, up 9.5% from Q2 2025. Excluding currency, acquisitions and China, growth was 8.1%.
Rest-of-world organic growth reached 8.1%: Rest-of-world organic growth was 8.1% for the quarter, with the China impact shown as 1.6%.
NovaSeq X demand remains high: Management said demand for NovaSeq X remains high as workflow and multiomics capabilities expand.
$ million except per share. Read moreFree 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
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
201
289
234
-30.4%
-14.1%
Capital expenditure
40.0
38.0
30.0
+5.3%
+33.3%
Free cash flow
161
251
204
-35.9%
-21.1%
Free cash flow margin
13.9%
23.0%
19.3%
Cash from investing
-122
-366
-49.0
Cash from financing
-129
-251
-371
Depreciation and amortisation
70.0
69.0
68.0
+1.4%
+2.9%
Share-based compensation
72.0
60.0
69.0
+20.0%
+4.3%
Buybacks
128
242
370
-47.1%
-65.4%
Diluted shares, weighted
153m
154m
157m
-0.6%
-2.5%
Shares outstanding at period end
151m
151m
154m
-0.2%
-1.8%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q2 FY2026
Q1 FY2026
Q2 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
2,838
2,676
2,258
+6.1%
+25.7%
Debt
1,991
1,989
1,991
+0.1%
0.0%
Operating lease liabilities
454
475
528
-4.4%
-14.0%
Other liabilities
1,367
1,419
1,310
-3.7%
+4.4%
Total liabilities and equity
6,650
6,559
6,087
+1.4%
+9.2%
Fixed assets
745
755
764
-1.3%
-2.5%
Goodwill
1,284
1,284
1,113
0.0%
+15.4%
Intangible assets
410
430
238
-4.7%
+72.3%
Investments
128
66.0
221
+93.9%
-42.1%
Cash and equivalents
1,040
1,089
934
-4.5%
+11.3%
Receivables
764
738
701
+3.5%
+9.0%
Inventory
629
611
575
+2.9%
+9.4%
Other assets
1,650
1,586
1,541
+4.0%
+7.1%
Total assets
6,650
6,559
6,087
+1.4%
+9.2%
Questions
What was Illumina's revenue in Q2 FY2026?
Illumina (ILMN) reported revenue of $1.2 billion for Q2 FY2026, the quarter ended 28 June 2026, up 9.4% on the same quarter a year earlier.
How much did Illumina earn in Q2 FY2026?
Net income for Q2 FY2026 was $207 million, down 11.9% on the year, and diluted earnings per share $1.35.
When did Illumina report Q2 FY2026 results?
Illumina filed its 10-Q for the quarter ended 28 June 2026 with the SEC on 31 July 2026.
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-Q for the period ended 28 June 2026, filed 31 July 2026: the filing.