Filing Flows › Illumina (ILMN) › Q1 2026
Illumina (ILMN) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
Illumina (ILMN) reported revenue of $1.1B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -6% from the quarter before. Operating margin was 19.2%, net earnings $134M (12.3% of revenue).
Illumina, Q1 2026: revenue $1.1B (+5% year over year), operating margin 19.2%, net earnings $134M, operating cash flow $289M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | -6% | +5% |
| Gross profit | $721M | -5% | +6% |
| Operating profit | $209M | +4% | +27% |
| Net earnings | $134M | -60% | +2% |
| Operating cash flow | $289M | -10% | +20% |
| Free cash flow | $251M | — | +21% |
What changed
Revenue was $1.1B in Q1 2026, up 5% year over year and down 6% from the previous quarter. Consumables was the largest line at 73% of revenue. Consumables added $0.03B year over year (up 4%), 58% of the total change.
Gross margin was 66.1%, up 0.5 points from Q1 2025. Operating profit was $0.21B, a 19.2% margin (up 3.4 points year over year). Of the extra revenue versus Q1 2025, 90% reached operating profit, above the 16% margin then. Operating expenses fell 1% while revenue rose 5%. Net earnings were $0.13B, up 2% year over year. The effective tax rate was 14.6%.
Operating cash flow was $0.29B (up 20% year over year), 216% of net earnings. Non-cash charges added back $0.07B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items added $0.03B. After purchases of property and equipment ($0.04B), free cash flow as the company reports it was $0.25B.
Questions
What was Illumina's revenue in the first quarter 2026?
Illumina (ILMN) reported revenue of $1.1B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -6% from the quarter before.
Was Illumina profitable in the first quarter 2026?
Operating profit was $209M (19.2% of revenue) and net earnings $134M.
Source: Illumina 10-Q on SEC EDGAR.