Filing Flows › Illumina (ILMN) › Q2 2026 › vs Q2 2025
Illumina (ILMN) Q2 2026 vs Q2 2025 (year over year)
Illumina's revenue rose $100M (+9%) from $1.1B in Q2 2025 to $1.2B in Q2 2026. The biggest changes: Total product revenue +$70.0M (+8%); Service +$30.0M (+20%). Gross margin 66.4% against 65.6% (+0.8 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 66.4% | 65.6% | +0.8 pts |
| Operating margin | 21.1% | 20.2% | +0.9 pts |
| Net margin | 17.9% | 22.2% | -4.3 pts |
| Free cash flow margin | 14.0% | 19.3% | -5.3 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Consumables | $852M | $811M | $41.0M | +5% |
| Instruments | $130M | $101M | $29.0M | +29% |
| Total product revenue | $982M | $912M | $70.0M | +8% |
| Service | $177M | $147M | $30.0M | +20% |
| Revenue | $1.2B | $1.1B | $100M | +9% |
| Gross profit | $770M | $695M | $75.0M | +11% |
| Cost of revenue | $389M | $364M | $25.0M | +7% |
| Other income, net | $15.0M | $92.0M | −$77.0M | -84% |
| Operating profit | $245M | $214M | $31.0M | +14% |
| Operating expenses | $525M | $481M | $44.0M | +9% |
| Pre-tax earnings | $260M | $306M | −$46.0M | -15% |
| Research & development | $252M | $247M | $5.0M | +2% |
| SG&A | $273M | $234M | $39.0M | +17% |
| Net earnings | $207M | $235M | −$28.0M | -12% |
| Income tax | $53.0M | $71.0M | −$18.0M | -25% |
| Depreciation & amortization | $70.0M | $68.0M | $2.0M | +3% |
| Share-based compensation | $73.0M | $69.0M | $4.0M | +6% |
| Working capital & other | $149M | $138M | $11.0M | +8% |
| Operating cash flow | $201M | $234M | −$33.0M | -14% |
| Free cash flow (company-reported) | $162M | $204M | −$42.0M | -21% |
| Purchases of property and equipment | $39.0M | $30.0M | $9.0M | +30% |
Questions
How much did Illumina's revenue grow year over year in Q2 2026?
Illumina's revenue rose $100M (+9%) from $1.1B in Q2 2025 to $1.2B in Q2 2026.
What drove Illumina's revenue change in Q2 2026?
Total product revenue +$70.0M (+8%); Service +$30.0M (+20%).