Illumina, Inc. reported its financial results for the third quarter of 2025, revealing total revenue of $1.084 billion, a slight increase from $1.080 billion in the same period last year. Product revenue, which includes sales of instruments and consumables, reached $927 million, up from $914 million year-over-year. Service and other revenue, however, saw a decline to $157 million from $166 million. The company reported a net income of $150 million, or $0.98 per diluted share, compared to a significantly higher net income of $705 million, or $4.42 per diluted share, in Q3 2024.
In terms of operational changes, Illumina's total assets decreased to $6.177 billion from $6.303 billion at the end of the previous fiscal year. The company’s cash and cash equivalents also fell to $1.050 billion from $1.127 billion. Notably, Illumina's employee headcount remained stable at 201 million shares outstanding, with a total stockholders' equity of $2.381 billion, reflecting a modest increase from $2.373 billion at the end of December 2024. The company has also been actively repurchasing shares, with $121 million spent on repurchases in Q3 2025.
Strategically, Illumina announced its intention to acquire SomaLogic and certain assets from Standard BioTools for $350 million, with the deal expected to close in the first half of 2026, pending regulatory approvals. This acquisition is part of Illumina's strategy to enhance its product offerings in the proteomics market. The company also continues to navigate challenges related to its previous acquisition of GRAIL, which was spun off in June 2024, and is currently involved in various legal proceedings related to that transaction.
Geographically, revenue from the Americas was $612 million, slightly up from $609 million in Q3 2024, while revenue from Europe increased to $309 million from $291 million. However, revenue from Greater China dropped to $52 million from $75 million, reflecting ongoing market challenges. The company reported a total of $3.184 billion in revenue for the first nine months of 2025, a decrease from $3.268 billion in the same period last year.
Looking ahead, Illumina anticipates continued challenges in the market, particularly in relation to its operations in Greater China and potential impacts from U.S. government funding for the National Institutes of Health. The company is also preparing for the integration of SomaLogic into its operations, which it expects will enhance its market position. Illumina's management remains focused on executing its strategic initiatives while managing costs and navigating the evolving regulatory landscape.
About ILLUMINA, INC.
Illumina, Inc. is a global leader in genetic and genomic analysis, providing sequencing and array-based solutions for research, clinical, and applied markets. Its products include instruments, consumables, and analysis tools used in genomics research, diagnostics, and personalized medicine. Serving research institutions, healthcare providers, and biotech companies, Illumina's core value lies in advancing genetic understanding and enabling precision health through innovative, high-throughput sequencing technologies.
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