Filing Flows › Illumina (ILMN) › Q2 2025
Illumina (ILMN) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 1, 2025
Illumina (ILMN) reported revenue of $1.1B for the second quarter 2025 (Q2 2025), -5% from a year earlier and +2% from the quarter before. Operating margin was 20.2%, net earnings $235M (22.2% of revenue).
Illumina, Q2 2025: revenue $1.1B (-5% year over year), operating margin 20.2%, net earnings $235M, operating cash flow $234M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | +2% | -5% |
| Gross profit | $695M | +2% | -4% |
| Operating profit | $214M | +30% | — |
| Net earnings | $235M | +79% | — |
| Operating cash flow | $234M | -3% | +192% |
| Free cash flow | $204M | — | +325% |
What changed
Revenue was $1.1B in Q2 2025, down 5% year over year and up 2% from the previous quarter. Consumables was the largest line at 77% of revenue. Service lost $0.04B year over year (down 21%), 72% of the total change.
Gross margin was 65.6%, up 0.8 points from a year earlier. Operating profit was $0.21B, a 20.2% margin (up 167.4 points year over year). Operating expenses fell 80% while revenue fell 5%. The fastest-growing cost line was SG&A (+59%). Net earnings were $0.23B. The effective tax rate was 23.2%. Non-operating items added $0.09B, 30% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.23B (up 192% year over year), 100% of net earnings. Non-cash charges added back $0.07B of depreciation and amortization and $0.07B of share-based compensation. Working capital and other items used $0.14B. After purchases of property and equipment ($0.03B), free cash flow as the company reports it was $0.20B.
Questions
What was Illumina's revenue in the second quarter 2025?
Illumina (ILMN) reported revenue of $1.1B for the second quarter 2025 (Q2 2025), -5% from a year earlier and +2% from the quarter before.
Was Illumina profitable in the second quarter 2025?
Operating profit was $214M (20.2% of revenue) and net earnings $235M.
Source: Illumina 10-Q on SEC EDGAR.