Illumina, Inc. (ILMN) is a global leader in sequencing- and array-based solutions for genetic and genomic analysis. The company develops and sells integrated systems, consumables, and analysis tools that simplify and accelerate genetic research and clinical applications. Illumina's products are widely used across diverse markets, including life sciences, oncology, reproductive health, agriculture, and emerging genomic fields.
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Core Illumina - Provides genomic solutions, including sequencing and microarray technologies, for research, clinical, and applied markets. Offers consumables, instruments, and services for genetic analysis.
- Consumables - Supplies reagents and kits used in sequencing and microarray workflows.
- Instruments - Manufactures sequencing and microarray systems for genomic analysis.
- Service and Other Revenue - Offers genotyping and sequencing services, instrument service contracts, and development/licensing agreements.
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GRAIL - Focuses on early detection of multiple cancers through advanced genomic technologies. Spun off into a separate public company on June 24, 2024.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Jacob Thaysen ExecutiveBoard | Chief Executive Officer | Jacob Thaysen has served as CEO of Illumina, Inc. since September 25, 2023. Previously, he held executive roles at Agilent Technologies where he led significant divisions such as Life Sciences and Applied Markets Group. | View Report → | |
Carissa Rollins Executive | Chief Information Officer (CIO) | Carissa Rollins is the Chief Information Officer at Illumina since 2022. She previously served as CIO at UnitedHealthcare Employer and Individual from 2017 to 2021 and as CIO/CHRO at Gander from 2016 to 2017. | ||
Kevin Pegels Executive | Chief of Global Operations | Advisory Committee Member, Bio Supply Management Alliance | Kevin Pegels is the Chief of Global Operations at Illumina since 2021, having previously served as Head of Global Supply Chain from 2015 to 2021. He joined Illumina in 2015 and also serves on the advisory committee for the Bio Supply Management Alliance. | |
Patricia Leckman Executive | Chief People Officer | Patricia Leckman has been the Chief People Officer at Illumina since 2023, and she previously served as Vice President of Human Resources at Illumina from 2010 to 2023, as well as Vice President of HR Operations at NVIDIA from 2006 to 2010. | ||
Steven Barnard Executive | Chief Technology Officer (CTO) | Steven Barnard has served as the Chief Technology Officer (CTO) at Illumina since August 9, 2023. He joined Illumina in 1998 as the company's first scientist and later served as Vice President and Head of Global Advanced Science. | ||
Anna Richo Board | Independent Director | Corporate Senior Vice President, Strategic Advisor to the CEO and General Counsel at Cargill, Inc.; Exelon, Inc. Board Member | Anna Richo joined Illumina's Board of Directors on May 16, 2024 and brings over 30 years of global legal, compliance, and regulatory expertise. She has also held senior roles at companies like Cargill, Amgen, and UCB. | |
Caroline D. Dorsa Board | Director | Board Member at Biogen, Inc. (Chair since 2023) ; Board Member at Duke Energy Corporation ; Founding Board Member and Current Board Member Emeritus at Institute for Advanced Clinical Trials for Children | Caroline D. Dorsa serves as a Director at Illumina since January 2017 and chairs the Audit Committee as a recognized financial expert under SEC rules, bringing extensive financial leadership experience from roles at companies such as Public Service Enterprise Group, Merck & Co., and Gilead Sciences. | |
Frances Arnold Board | Director | Director at Alphabet, Inc. (since 2019); Board Member at Altos Labs (since 2021); Board Member at National Resilience, Inc. (since 2020); Board Member at Generate Biomedicines (since 2019); Board Member at Provivi, Inc. (since 2014); Linus Pauling Professor at California Institute of Technology (since 1986) | Frances Arnold, Ph.D., has been a Director at Illumina, Inc. since 2016, serving as an Independent Director and the Chair of the Science and Technology Committee. She is a renowned scientist, Nobel laureate recognized for pioneering directed enzyme evolution, and a distinguished academic with a longstanding career at Caltech since 1986. | |
Gary S. Guthart Board | Director | President and Chief Executive Officer of Intuitive Surgical | Gary S. Guthart has served as a Director at ILMN since 2017 and is a member of the Science and Technology Committee. He is also the President and Chief Executive Officer of Intuitive Surgical since 2010. | |
Philip W. Schiller Board | Director at Illumina, Inc. | Board of Trustees, Bowdoin College (2019–Present) | Philip W. Schiller has been a Director at Illumina, Inc. since 2016 and serves on its Nominating/Corporate Governance Committee and Science and Technology Committee. He brings extensive expertise from previous leadership roles at Apple, Inc., Macromedia, Inc., and FirePower Systems, Inc.. | |
Robert S. Epstein Board | Director | CEO & Co-Founder of Epstein Health LLC (since 2012); Veracyte, Inc. - Board member (since 2015, Chair since 2023); Fate Therapeutics, Inc. - Board member (since 2014); Tasso, Inc. - Board member (since 2023); Diadem srl - Board member (since 2022) | Robert S. Epstein, M.D. has served as a director at Illumina, Inc. since 2012 and actively contributes via the Compensation and Nominating/Corporate Governance Committees. He has a broad background in healthcare and biopharmaceuticals, including his role as CEO & Co-Founder of Epstein Health LLC and board memberships at several other companies. | |
Scott B. Ullem Board | Independent Director | Chief Financial Officer at Edwards Lifesciences; Board Member at egnite | Scott B. Ullem joined ILMN as an independent director on June 1, 2023 and serves on the Audit Committee. He has extensive experience as CFO at Edwards Lifesciences since January 2014, and has held significant roles at Bemis Company, Inc. and in investment banking at Goldman Sachs and Bank of America. | |
Scott Gottlieb Board | Director at Illumina, Inc. | Director at Pfizer Inc. since 2019; Board member at National Resilience, Inc. since 2020; Board member at Aetion, Inc. since 2019; Board member at Tempus Labs since 2019; Board member at Mount Sinai Medical System since 2023 | Scott Gottlieb, M.D., has been a Director at Illumina, Inc. since 2020 and serves as an Independent Director on the Nominating/Corporate Governance Committee. He brings extensive regulatory and policy expertise from his tenure as the FDA Commissioner and other prominent roles. | |
Stephen P. MacMillan Board | Non-Executive Chair of the Board | President and CEO of Hologic, Inc. (since 2013); Chairman of Hologic, Inc. (since 2015); Member of the Advanced Medical Technology Association (since 2015) | Stephen P. MacMillan serves as Non-Executive Chair of the Board at Illumina since June 2023. Previously, he has held executive roles at Hologic, Inc. and Stryker Corporation, driving growth and innovation in the healthcare sector. | |
Susan E. Siegel Board | Director | Senior Lecturer at MIT Sloan School of Management (since 2019); Nevro Corp. (since 2020); Align Technology, Inc. (since 2017); Chairman of MIT’s The Engine (since 2020); Co-Chair, Stanford Medicine Board of Fellows (since 2017); Kaiser Family Foundation (since 2019) | Susan E. Siegel has been a director at Illumina, Inc. since February 2019. She serves as the Chair of the Compensation Committee and brings over three decades of leadership experience from roles such as President at Affymetrix and Chief Innovation Officer at GE Ventures. | |
Joydeep Goswami | Advisor | Joydeep Goswami served as CFO and Chief Strategy and Corporate Development Officer at ILMN until his tenure concluded in 2024, after which he transitioned to an Advisor role to support leadership changes. With over 20 years of experience in senior management roles in the life sciences industry, he significantly contributed to strategic planning and financial operations. |
- Can you provide more specific details on the potential impact of the recent Chinese Ministry of Commerce announcement on your China business, including how it might affect your 2025 guidance and what steps you're taking to mitigate these risks?
- Given that you continue to invest almost $1 billion annually in R&D, how do you justify this level of expenditure, and can you provide concrete examples of how these investments are translating into revenue growth and improving your competitive position?
- With competitors aggressively pricing their instruments, even reportedly giving them away in key projects like the UK Biobank, how do you plan to respond to retain and grow your market share in the face of such competition?
- There appears to be a deceleration in consumables growth, with revenue coming in lower than expected; can you elaborate on the factors contributing to this trend and how you plan to drive consumables growth going forward?
- Given the challenges in transitioning clinical customers to the NovaSeq X platform and the expectation that 20% of tests may never move over, how confident are you in achieving your target of 75% conversion by mid-2025, and what specific strategies are you employing to accelerate this uptake?
Research analysts who have asked questions during ILLUMINA earnings calls.
David Westenberg
Piper Sandler
4 questions for ILMN
Tycho Peterson
Jefferies
4 questions for ILMN
Vijay Kumar
Evercore ISI
4 questions for ILMN
Daniel Brennan
TD Cowen
3 questions for ILMN
Douglas Schenkel
Wolfe Research, LLC
3 questions for ILMN
Puneet Souda
Leerink Partners
3 questions for ILMN
Conor Noel McNamara
RBC Capital Markets
2 questions for ILMN
Daniel Arias
Stifel, Nicolaus & Company, Incorporated
2 questions for ILMN
Kyle Mikson
Canaccord Genuity
2 questions for ILMN
Patrick Donnelly
Citi
2 questions for ILMN
Subhalaxmi Nambi
Guggenheim Securities
2 questions for ILMN
Sung Ji Nam
Scotiabank
2 questions for ILMN
Ben Miller
Stephens Inc.
1 question for ILMN
Conor McNamara
RBC Capital Markets
1 question for ILMN
Dan Arias
Stifel Financial Corp.
1 question for ILMN
Daniel Leonard
Stifel Financial Corp.
1 question for ILMN
Doug Schenkel
Wolfe Research LLC
1 question for ILMN
Eve Burstein
Goldman Sachs
1 question for ILMN
Jack Meehan
Nephron Research LLC
1 question for ILMN
Michael Ryskin
Bank of America Merrill Lynch
1 question for ILMN
Rachel Vatnsdal
JPMorgan Chase & Co.
1 question for ILMN
Rachel Vatnsdal Olson
JPMorgan
1 question for ILMN
Subbu Nambi
Guggenheim Securities
1 question for ILMN
Tejas Savant
Morgan Stanley
1 question for ILMN
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Fluent BioSciences | 2024 | Illumina completed the acquisition of Fluent BioSciences on July 9, 2024, for an $85 million upfront cash payment with additional contingent consideration; the deal brings in highly differentiated single-cell technology (including PIPseq™ V) to expand its multiomics capabilities. |
GRAIL | 2023 | Illumina’s acquisition of GRAIL is currently planned but faces significant legal and regulatory hurdles, including FTC and EU proceedings, a divestiture order with ongoing appeals, and potential fines amounting to $458 million, with GRAIL being operated separately pending resolution. |
Recent press releases and 8-K filings for ILMN.
- GRAIL announced a strategic partnership with Samsung C&T and Samsung Electronics, involving a $110 million equity investment at $70.05 per share, to expand its Galleri multi-cancer blood test in Asia, starting with South Korea.
- This investment is expected to close in early 2026 and is anticipated to strengthen GRAIL's balance sheet and extend its cash runway.
- Following the announcement, GRAIL's stock surged over 11% to a new 52-week high, reaching highs above $85.
- Despite the stock's momentum, analysts remain cautious, with most rating the stock a 'Hold' and average 12-month price targets ranging between $30 and $50.
- GRAIL reported Q2 2025 revenue of $35.5 million and a narrowed net loss, with FDA premarket approval filings for the Galleri test anticipated in mid-2026.
- Illumina announced that GeneDx is piloting its emerging constellation mapped read technology, which has demonstrated the ability to rapidly identify hard-to-detect variants implicated in rare disease.
- In a pilot project, GeneDx evaluated 160 DNA samples using NovaSeq X Plus Systems with constellation kits, where the technology accurately uncovered repeat expansions, complex structural variants, and elusive regions of the genome, meeting or exceeding established alternative methods.
- Joe Devaney, GeneDx's Director of Laboratory Innovation, is scheduled to present the early results of this study at the American Society for Human Genetics (ASHG) Annual Meeting on October 15, 2025.
- The first commercially available product based on Illumina's constellation technology is slated for release in the first half of 2026, compatible with the NovaSeq X Series.
- Illumina announced the release of its novel 5-base solution, marking a major advancement in scalable multiomic analysis.
- This solution enables the simultaneous detection of genomic variants and DNA methylation from a single sample, providing high-resolution insights into both the methylome and genome while reducing complexity and cost.
- Powered by proprietary 5-base chemistry and custom DRAGEN algorithms, the 5-base solution aims to help researchers uncover disease mechanisms, discover biomarkers for cancer and genetic disease, and advance precision medicine.
- Customers can choose between two kits, Illumina 5-Base DNA Prep and Illumina 5-Base DNA Prep with Enrichment, which are compatible with Illumina NovaSeq Systems and the NextSeq 2000 System.
- Illumina has launched BioInsight, a new business unit focused on leveraging data assets, software, and AI to accelerate life science breakthroughs and provide deeper biologic insights.
- BioInsight aims to enhance pharmaceutical access to large omics datasets to advance drug target discovery and development.
- Rami Mehio has been appointed as senior vice president and general manager of BioInsight, joining Illumina's executive leadership team.
- The new business will focus on large-scale data generation, multimodal data analysis software, secure data access platforms, and AI tool development through strategic partnerships.
- Predicta Biosciences, a precision oncology company, secured an oversubscribed $23.4 million Series A funding round, with Illumina Ventures among the participating investors.
- The capital will be used to expand Predicta's team and CLIA-approved lab infrastructure, and advance the commercialization of its first test, GenoPredicta, a non-invasive diagnostic for multiple myeloma, and further develop other diagnostic solutions.
- Brian McKernan was appointed CEO of Predicta Biosciences; he previously served as CEO at Fluent BioSciences, which was acquired by Illumina.
- Illumina Inc. is partnering with multiple global pharmaceutical companies to develop companion diagnostics (CDx).
- These CDx will be enabled on the TruSight™ Oncology (TSO) Comprehensive genomic profiling test and will specifically target KRAS alterations.
- The goal is to broaden patient access to precision oncology care by identifying individuals who may benefit from targeted therapies for KRAS mutations, regardless of tumor origin.
- Illumina Inc. announced the launch of Illumina Protein Prep, an assay introducing superior performance for next-generation sequencing (NGS)-based proteomics discovery, now broadly available to customers worldwide.
- This new assay can measure 9500 unique human protein targets, enabling researchers to integrate proteomics into large-scale genomics studies and fuel insights across cancer, cardio metabolic, and immunologic diseases.
- The product was piloted through an early access program with nearly 40 collaborators since 2024, processing over 30,000 samples with the 6K assay and over 6,000 samples with the 9.5K assay, with customers commending its scale, high consistency, and easy workflow.
- The launch follows Illumina's agreement to acquire SomaLogic, enhancing its presence in the expanding proteomics market and advancing its multiomics strategy.
- Illumina agreed to acquire SomaLogic for $350 million cash plus up to $75 million in performance-based milestones and royalties, forming a definitive agreement .
- The transaction is expected to close in H1 2026, subject to customary regulatory approvals .
- The deal bolsters Illumina’s proteomics expertise and advances its multiomics strategy, building on a co-development partnership since December 2021 .
- Illumina Protein Prep is in early access now and will be generally available in Q3 2025 .
- SomaLogic’s aptamer-based platform, approximately 250 employees, and Boulder, Colorado facilities will join Illumina’s NGS ecosystem .
- The acquired proteomics business is expected to be profitable by 2027 with non-GAAP operating margins aligned by 2028 .
- Illumina reaffirmed its strategy to deliver high single-digit revenue growth and 500 basis point margin expansion by 2027, driven by the transition to the X platform and accelerated cost reductions.
- The company highlighted its robust innovation pipeline, including new offerings in single cell, proteomics, spatial constellation, and integrated AI capabilities for multiomics applications.
- Discussion on the China market underscored that while it represents less than 5% of revenue, efforts continue to resolve regulatory challenges and maintain a presence there.
- Q1 2025: Delivered $1.04B in revenue with $0.97 non‐GAAP EPS and $0.82 GAAP diluted EPS , reflecting flat revenue performance and robust NovaSeq X adoption .
- Maintained strong margins with a 67.4% gross margin and 20.4% operating margin , alongside a 15.8% GAAP operating margin .
- Fiscal Guidance: Updated outlook now targets overall revenue near $4.25B with non‐GAAP EPS of $4.20–$4.30 and a 1%-3% core revenue decline on a constant currency basis , including $85M in tariff‐related costs that may reduce margins by ~125bps and EPS by about $0.25 .
- Cost & Capital: Implemented a $100M cost reduction program and executed $200M in share repurchases in Q1 , with an additional $1.2B buyback authorization remaining .
- Regional Performance: Americas generated $570M and Greater China $72M amid ongoing export restrictions , with separate guidance provided for the region .
- Cash Flow: Achieved $240M in operating cash flow and $208M in free cash flow during Q1 .
- Highlighting platform strength through the strong adoption of NovaSeq X instruments .