Illumina Raises 2026 Sales Guidance as Quarterly Genomics Revenue Grows

Illumina increased its 2026 revenue and adjusted earnings guidance after reporting third-quarter financial results on October 29, 2026, citing demand for clinical sequencing and its NovaSeq X platform.

The genomics technology company reported $1.13 billion in revenue, an increase of 4.2% from the comparable quarter of 2025. Its GAAP operating margin was 27.0%, while its non-GAAP operating margin excluding tariff refunds was 25.0%. These figures are prepared on different bases and should not be compared without accounting for the adjustments.

Illumina now expects full-year revenue of $4.64 billion–$4.66 billion, compared with its previous projection of $4.60 billion–$4.64 billion. It raised its adjusted diluted earnings-per-share outlook, excluding tariff refunds, to $5.40–$5.45 from $5.30–$5.40. These are management forecasts, not audited full-year results.

The company separately reported quarterly revenue of about $1.17 billion when excluding the effect of tariff refunds. Its disclosure identifies an expected tariff-refund benefit and customer credits that affect reported figures. Using the adjusted revenue figure without explanation would overstate the amount recorded under standard accounting rules.

Illumina generated approximately $419 million in operating cash flow and $378 million in free cash flow for the quarter. Management said clinical demand and NovaSeq X instrument placements exceeded its earlier expectations, while conditions in Greater China remained a separate factor in its regional growth measures.

The results indicate an improvement in the company's outlook for the rest of the year, but they do not establish that sequencing demand will accelerate at the same rate in every region or that new AI-related research applications have yet produced a measurable share of revenue.