Filing Flows › Illumina (ILMN) › Q2 2026 › vs Q1 2026
Illumina (ILMN) Q2 2026 vs Q1 2026 (quarter over quarter)
Illumina's revenue rose $68.0M (+6%) from $1.1B in Q1 2026 to $1.2B in Q2 2026. The biggest changes: Total product revenue +$65.0M (+7%); Service +$3.0M (+2%). Gross margin 66.4% against 66.1% (+0.4 pts).
Illumina, Q2 2026: revenue $1.2B (+9% year over year), operating margin 21.1%, net earnings $207M, operating cash flow $201M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 66.4% | 66.1% | +0.4 pts |
| Operating margin | 21.1% | 19.2% | +2.0 pts |
| Net margin | 17.9% | 12.3% | +5.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Consumables | $852M | $797M | $55.0M | +7% |
| Instruments | $130M | $120M | $10.0M | +8% |
| Total product revenue | $982M | $917M | $65.0M | +7% |
| Service | $177M | $174M | $3.0M | +2% |
| Revenue | $1.2B | $1.1B | $68.0M | +6% |
| Gross profit | $770M | $721M | $49.0M | +7% |
| Cost of revenue | $389M | $370M | $19.0M | +5% |
| Other income, net | $15.0M | −$52.0M | $67.0M | — |
| Operating profit | $245M | $209M | $36.0M | +17% |
| Operating expenses | $525M | $512M | $13.0M | +3% |
| Pre-tax earnings | $260M | $157M | $103M | +66% |
| Research & development | $252M | $240M | $12.0M | +5% |
| SG&A | $273M | $272M | $1.0M | +0.4% |
| Net earnings | $207M | $134M | $73.0M | +54% |
| Income tax | $53.0M | $23.0M | $30.0M | +130% |
| Depreciation & amortization | $70.0M | $69.0M | $1.0M | +1% |
| Share-based compensation | $73.0M | $60.0M | $13.0M | +22% |
| Working capital & other | $149M | −$26.0M | $175M | — |
| Operating cash flow | $201M | $289M | −$88.0M | -30% |
Questions
How much did Illumina's revenue grow quarter over quarter in Q2 2026?
Illumina's revenue rose $68.0M (+6%) from $1.1B in Q1 2026 to $1.2B in Q2 2026.
What drove Illumina's revenue change in Q2 2026?
Total product revenue +$65.0M (+7%); Service +$3.0M (+2%).