Filing Flows › Illumina (ILMN) › Q3 2026 › vs Q2 2026
Illumina (ILMN) Q3 2026 vs Q2 2026 (quarter over quarter)
Illumina's revenue fell $30.0M (-3%) from $1.2B in Q2 2026 to $1.1B in Q3 2026. The biggest changes: Total product revenue −$36.0M (-4%); Service +$6.0M (+3%). Gross margin 73.5% against 66.4% (+7.1 pts).
Illumina, Q3 2026: revenue $1.1B (+4% year over year), operating margin 27.0%, net earnings $220M, operating cash flow $419M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 73.5% | 66.4% | +7.1 pts |
| Operating margin | 27.0% | 21.1% | +5.9 pts |
| Net margin | 19.5% | 17.9% | +1.6 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Consumables | $841M | $852M | −$11.0M | -1% |
| Instruments | $105M | $130M | −$25.0M | -19% |
| Total product revenue | $946M | $982M | −$36.0M | -4% |
| Service | $183M | $177M | $6.0M | +3% |
| Revenue | $1.1B | $1.2B | −$30.0M | -3% |
| Gross profit | $830M | $770M | $60.0M | +8% |
| Cost of revenue | $299M | $389M | −$90.0M | -23% |
| Operating profit | $305M | $245M | $60.0M | +24% |
| Operating expenses | $525M | $525M | $0 | 0% |
| Pre-tax earnings | $264M | $260M | $4.0M | +2% |
| Other expense, net | $41.0M | −$15.0M | $56.0M | — |
| Research & development | $244M | $252M | −$8.0M | -3% |
| SG&A | $281M | $273M | $8.0M | +3% |
| Net earnings | $220M | $207M | $13.0M | +6% |
| Income tax | $44.0M | $53.0M | −$9.0M | -17% |
| Depreciation & amortization | $72.0M | $70.0M | $2.0M | +3% |
| Share-based compensation | $74.0M | $73.0M | $1.0M | +1% |
| Working capital & other | $53.0M | −$149M | $202M | — |
| Operating cash flow | $419M | $201M | $218M | +108% |
Questions
How much did Illumina's revenue grow quarter over quarter in Q3 2026?
Illumina's revenue fell $30.0M (-3%) from $1.2B in Q2 2026 to $1.1B in Q3 2026.
What drove Illumina's revenue change in Q3 2026?
Total product revenue −$36.0M (-4%); Service +$6.0M (+3%).