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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.
| 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?
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.
- Dr. Scott Gottlieb has been elected as non-executive Chair of the board, effective March 28, 2025.
- Keith Meister is set to join the board on March 28, 2025, while Stephen MacMillan will retire from his board position, reflecting the company's board restructuring.
- Illumina expects non-GAAP diluted EPS of approximately $4.50 for fiscal 2025 and is implementing an incremental $100 million cost reduction program to address potential revenue declines from its Greater China business.
- The company acknowledged that China's MOFCOM has prohibited the export of its sequencing instruments, which will result in limited further earnings contribution from China while the business continues to comply with applicable laws.
- Illumina reiterated its strategy to expand its multiomics portfolio and achieve high-single-digit revenue growth by 2027, while cautioning about forward-looking risks and uncertainties.
- Illumina announced a fiscal 2025 non-GAAP diluted EPS guidance of approximately $4.50, indicating strong expectations for earnings despite recent challenges.
- The company is addressing China regulatory concerns following MOFCOM’s decision to bar exports of sequencing instruments, while continuing to support its long-standing customer base in the region.
- An incremental cost reduction program of approximately $100 million for fiscal 2025 has been introduced to mitigate potential revenue impacts from the Greater China market.