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How Illumina (ILMN) makes money
Illumina (ILMN) made $1.1B of revenue in the third quarter 2026 (Q3 2026), +4% from a year earlier. Total product revenue brought in $946M (84%); Service brought in $183M (16%). Of every dollar of revenue, 74¢ was left as gross profit, 27¢ was left as operating profit, 19¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Total product revenue | $946M | 83.8% | -4% | +2% |
| ↳ Consumables | $841M | 74.5% | -1% | +3% |
| ↳ Instruments | $105M | 9.3% | -19% | -5% |
| Service | $183M | 16.2% | +3% | +17% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.1B | 100.0% |
| Cost of revenue | $299M | 26.5% |
| Gross profit | $830M | 73.5% |
| Operating expenses | $525M | 46.5% |
| Operating profit | $305M | 27.0% |
| Income tax | $44.0M | 3.9% |
| Net earnings | $220M | 19.5% |
| Operating cash flow | $419M | 37.1% |
| Free cash flow | $378M | 33.5% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.1B | +4% |
| Q2 2026 | $1.2B | +9% |
| Q1 2026 | $1.1B | +5% |
| Q4 2025 | $1.2B | +5% |
| Q3 2025 | $1.1B | +0.4% |
| Q2 2025 | $1.1B | -5% |
| Q1 2025 | $1.0B | -3% |
From Illumina's 10-Q filed Oct 30, 2026 (on EDGAR).
Questions
How does Illumina make money?
Illumina (ILMN) made $1.1B of revenue in the third quarter 2026 (Q3 2026), +4% from a year earlier. Total product revenue brought in $946M (84%); Service brought in $183M (16%). Of every dollar of revenue, 74¢ was left as gross profit, 27¢ was left as operating profit, 19¢ was left as net earnings.
What is Illumina's biggest business?
Total product revenue: $946M in the third quarter 2026, 84% of revenue, +2% from a year earlier.
What is Illumina's profit margin?
Net earnings were $220M, 19.5% of revenue, in the third quarter 2026; the operating margin was 27.0%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.