Revenue Performance - Revenue decreased by 3% in 2024 to $4.4 billion compared to $4.5 billion in 2023, primarily due to a decrease in sequencing instruments revenue[170]. - Total revenue for the year ended December 29, 2024, was $4,372 million, a decrease of 2.9% from $4,504 million in 2023[258]. - Product revenue decreased to $3,656 million in 2024 from $3,787 million in 2023, representing a decline of 3.5%[258]. - Core Illumina consumables revenue increased by 2% to $3.169 billion in 2024, primarily due to an increase in NovaSeq X consumables[173]. - Core Illumina instruments revenue decreased by 29% to $501 million in 2024, driven by fewer shipments of high-throughput instruments[173]. - Revenue from product sales is recognized upon delivery to the end customer, with invoicing typically occurring upon shipment and payment due within 30 days[294]. - Revenue from Greater China was $308 million in 2024, down from $384 million in 2023, a decline of 19.8%[353]. - Americas revenue was $2,441 million in 2024, down from $2,521 million in 2023, a decline of 3.2%[353]. Financial Performance - Gross margin increased to 65.4% in 2024 from 60.9% in 2023, driven by operational excellence initiatives and a favorable revenue mix[170]. - Loss from operations improved to $0.8 billion in 2024 from $1.1 billion in 2023, due to a decrease in operating expenses and an increase in gross profit[171]. - The net loss for 2024 was $1,223 million, compared to a net loss of $1,161 million in 2023, reflecting a $62 million increase[187]. - The company reported a net loss of $1,223 million for the year ended December 29, 2024, compared to a net loss of $1,161 million in 2023[258]. - The company incurred a goodwill and intangible asset impairment of $1,889 million in 2024, compared to $827 million in 2023, reflecting a significant increase[268]. - The company recorded a net unrealized loss of $310 million on marketable equity securities in 2024[360]. Cash Flow and Investments - Cash, cash equivalents, and short-term investments totaled $1.220 billion at the end of 2024, with approximately $439 million held by foreign subsidiaries[171]. - Net cash provided by operating activities in 2024 was $837 million, a significant increase from $478 million in 2023[202]. - Net cash used in investing activities was $178 million in 2024, including $128 million in capital expenditures and $81 million for an acquisition[205]. - The company issued $500 million in 2026 Term Notes in September 2024, with net proceeds of $497 million used to repay part of the outstanding debt[193]. - The company anticipates that current cash, cash equivalents, and short-term investments are sufficient to fund near-term capital and operating needs for at least the next 12 months[201]. Operational Efficiency - Core Illumina's R&D expense decreased by $42 million, or 4%, in 2024, primarily due to reductions in headcount and employee compensation costs[180]. - Core Illumina's SG&A expense decreased by $348 million, or 28%, in 2024, mainly due to gains on GRAIL contingent consideration liability and reduced restructuring charges[181]. - Total consolidated operating expense decreased by $119 million, or 3%, from $3,813 million in 2023 to $3,694 million in 2024[180]. Strategic Initiatives - Strategic goals for 2025 include a focus on returning to revenue growth and further progress in operational excellence initiatives[169]. - The company plans to continue advancing research and development efforts and may pursue strategic acquisitions to enhance product offerings[202]. GRAIL Spin-Off - The Spin-Off of GRAIL on June 24, 2024, resulted in Illumina retaining approximately 14.5% of GRAIL common stock[165]. - The company completed the Spin-Off of GRAIL on June 24, 2024, distributing approximately 85.5% of GRAIL's outstanding common stock to Illumina stockholders[272]. - The cash contribution to GRAIL for 2.5 years of operations was determined to be $974 million, net of cash and cash equivalents held by GRAIL[346]. Impairment and Valuation - GRAIL's goodwill and intangible impairment in 2024 was $1,886 million, significantly higher than the $821 million in 2023[183]. - The impairment assessment of GRAIL IPR&D involved significant estimation uncertainty, particularly regarding forecasted revenues and discount rates[251]. - The company recorded an impairment loss of $420 million related to GRAIL in-process research and development (IPR&D), with a carrying value of $140 million post-assessment[250]. Tax and Interest - The effective tax rate was (3.8)% in 2024, impacted by non-deductible goodwill impairment and the reversal of a fine related to the GRAIL acquisition[171]. - Interest income decreased by $12 million, or 21%, to $46 million in 2024, while interest expense increased by $23 million, or 30%, to $100 million[185]. Market and Currency - The total notional amounts of outstanding forward contracts for foreign currency purchases was $621 million as of December 29, 2024, used to hedge portions of foreign currency exposure associated with forecasted revenue transactions[237]. - The company had foreign exchange forward contracts in place to hedge exposures in multiple currencies, including euro and Japanese yen, as of December 29, 2024[327].

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Investors with an interest in Medical - Biomedical and Genetics stocks have likely encountered both Illumina (ILMN) and Alnylam Pharmaceuticals (ALNY) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Ran ...

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.Zacks Premium also includes the Zacks Style Scores. What are ...

On Monday, for the second time in as many business days, Illumina (ILMN -5.47%) stock took it on the chin because of an analyst recommendation downgrade. The biotech's shares closed the day almost 6% lower, during a session when the S&P 500 (^GSPC 0.67%) landed in the black with a 0.7% increase.The move is to sell now, says bankThat morning, Barclays changed its recommendation on Illumina stock to underweight (read: sell) from the previous equal weight (hold). It also pulled the lever on a significant price ...

Have you assessed how the international operations of Illumina (ILMN) performed in the quarter ended December 2024? For this genetic testing tools company, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects.In the current global economy, which is more interconnected than ever, a company's success in penetrating international markets is crucial for its financial health and growth journey. Investors mu ...

Illumina (NASDAQ: ILMN ) reached a solid profitability level thanks to Grail divestment and a cost-cutting plan. Free Cash Flow is increasing and could reach $1.2bn for the FY25, yielding more than 6% on the enterprise value. However, bad newsHello readers! Passionate about technology, my focus will be on finding and analyzing companies that can play a relevant role in today's geopolitics, leverage their IP, and eventually, with time, become new leaders. Therefore, the investment style will correspond to gr ...

Shares of Illumina (ILMN -8.47%) were falling on Friday. The company's stock was down by as much as 11.4% early in the session, and was still off by 8.7% as of 2:38 p.m. ET. At that time, the S&P 500 had slid by 0.9% and the Nasdaq Composite was down 1.4%.Illumina, a biotech company that develops and manufactures genetic testing systems, reported disappointing fourth-quarter numbers after the closing bell Thursday.The numbersIllumina's revenue has stagnated or declined for several years now, and its total s ...

Illumina, Inc. ILMN reported better-than-expected results for its fourth quarter on Thursday.The company posted quarterly earnings of 95 cents per share which beat the analyst consensus estimate of 92 cents per share. The company reported quarterly sales of $1.10 billion which beat the analyst consensus estimate of $1.08 billion.“The Illumina team delivered fourth quarter revenue that exceeded our expectations, and we made significant progress in 2024 toward our goals to drive customer-centric innovation, m ...

Illumina Inc. (ILMN) reported fourth-quarter 2024 adjusted earnings per share (EPS) of 86 cents, which missed the Zacks Consensus Estimate of 92 cents by 6.5%. The bottom line was significantly above the year-ago quarter’s level of 14 cents. Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The adjustments exclude the impact of GRAIL’s pre-acquisition net operating losses on GILTI, the utilization of U.S. foreign tax credits and the Pillar Two global minimum top-up tax, which became eff ...