Illumina's second quarter revenue of $1.16B beats estimates, prompting a raised full-year 2026 outlook.

Illumina reported second quarter 2026 revenue of $1.16 billion, up 9.5% year-over-year, and non-GAAP diluted EPS of $1.31. These results exceeded analyst expectations for both revenue and earnings.

Key Highlights

• The company raised its full-year 2026 guidance, now expecting revenue of $4.60-$4.64 billion, up from a prior range of $4.52-$4.62 billion.
• Full-year non-GAAP diluted EPS guidance was also increased to a range of $5.30-$5.40, compared to the previous forecast of $5.15-$5.30.
• Second quarter non-GAAP operating margin was 22.5%, compared to 23.8% in the prior-year period.
• Free cash flow was $162 million for the quarter, a decrease from $204 million in the second quarter of 2025.