Illumina, Inc. announced its financial results for the fourth quarter and full fiscal year 2024 on February 6, 2025. For Q4 2024, Core Illumina revenue reached $1.104 billion, exceeding expectations, while full-year 2024 Core Illumina revenue was $4.332 billion, a 2% decline from 2023.
The company reported a non-GAAP diluted EPS of $0.86 for Q4 2024 and $4.16 for the full fiscal year 2024, an increase from $4.00 in 2023. Non-GAAP operating margin improved to 19.7% in Q4 2024 and 21.3% for the full year, up from 18.5% and 19.9% respectively in 2023, driven by operational excellence and a favorable revenue mix.
For fiscal year 2025, Illumina maintained its guidance for Core Illumina constant currency revenue growth in the low single digits, with reported revenue between $4.28 billion and $4.4 billion, and a non-GAAP operating margin of approximately 23%. However, this guidance explicitly does not reflect any impact from the recent China Ministry of Commerce announcement regarding Illumina's inclusion on its 'unreliable entities list,' signaling potential future adjustments.
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