ILLUMINA Reports 1.2% YOY Increase in Revenue for Q2 2023
August 13, 2023
☀️Earnings Overview
On August 9 2023, Illumina ($NASDAQ:ILMN) reported total revenue of USD 1176.0 million for the quarter ending June 30 2023, a 1.2% year-on-year increase. Net income for the same period had improved considerably to USD -234.0 million, compared to the -535.0 million recorded in the corresponding quarter of the previous year.
Analysis
GoodWhale has conducted an analysis of ILLUMINA‘s fundamentals and determined that it is a medium risk investment. The Risk Rating considers both financial and business aspects when assigning a risk score. GoodWhale has also detected one risk warning in a financial journal and registered users can check it out for more information. This warning should be taken into consideration when deciding whether or not to invest in ILLUMINA. As with any investment, there is always the potential for loss and investors should research a company thoroughly before committing to any purchase. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Illumina. More…
| Total Revenues | Net Income | Net Margin |
| 4.46k | -4.19k | -40.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Illumina. More…
| Operations | Investing | Financing |
| 210 | -445 | 508 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Illumina. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 11.77k | 5.22k | 41.49 |
Key Ratios Snapshot
Some of the financial key ratios for Illumina are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.0% | -84.8% | -88.6% |
| FCF Margin | ROE | ROA |
| -5.0% | -37.3% | -21.0% |
Peers
Its products are used by researchers in a variety of fields, including cancer, immunology, and neuroscience. Illumina‘s main competitors are Immunovia AB, Standard BioTools Inc, and BCAL Diagnostics Ltd.
– Immunovia AB ($LTS:0G8X)
Immunovia is a Swedish company that specializes in the development of blood-based diagnostics for the early detection of cancer. The company was founded in 2003 and has since then developed a number of ground-breaking products, including the world’s first blood test for the early detection of pancreatic cancer. Immunovia’s products are based on cutting-edge technology that allows for the detection of very small changes in the levels of certain proteins in the blood, which can be indicative of the presence of cancer. The company’s flagship product, the PancraFIT test, has been shown to be more than twice as accurate as current standard-of-care tests for pancreatic cancer, and is currently being used in clinical trials in Europe and the United States.
Immunovia’s market cap as of 2022 is 793.92M. The company’s Return on Equity (ROE) for the same year is -27.88%.
– Standard BioTools Inc ($NASDAQ:LAB)
Standard BioTools Inc is a company that manufactures and sells medical devices and equipment. The company has a market capitalization of $89.67 million and a return on equity of 1,331.32%. The company’s products include surgical instruments, medical devices, and laboratory equipment. Standard BioTools Inc is a publicly traded company on the Nasdaq Stock Market under the ticker symbol STBT.
Summary
Investors in ILLUMINA were encouraged by the company’s growth in total revenue reported for the quarter ended June 30 2023, increasing 1.2% year-over-year to USD 1176.0 million. Net income for the quarter was USD -234.0 million, a significant improvement from the -535.0 million reported in the same quarter of the previous year. This demonstrates increased financial strength and suggests that ILLUMINA could be a good investment for those looking for long-term growth.
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