ILLUMINA Reports USD 1119.0 Million in Revenue for FY2023 Q3, Up 0.4% Year-Over-Year
November 20, 2023
🌥️Earnings Overview
For the third quarter of fiscal year 2023, which ended September 30 2023, Illumina ($NASDAQ:ILMN) reported total revenue of USD 1119.0 million, a 0.4% year-over-year increase. Net income for Q3 was USD -754.0 million, compared to -3816.0 million in the same period the prior year. The report was made public on November 9 2023.
Analysis
GoodWhale has conducted an analysis of ILLUMINA‘s wellbeing, and according to their Star Chart ILLUMINA has an intermediate health score of 6/10 indicating that it is likely to sustain future operations in times of crisis. ILLUMINA is classified as a ‘rhino’, which GoodWhale concludes is a type of company that has achieved moderate revenue or earnings growth. In terms of investments, ILLUMINA is strong in assets and profitability, and medium in growth; while it is weak in dividend. This makes it an attractive option for investors that are looking for a moderate return and are willing to take on some risk. Investors looking for quick returns or dividends should look elsewhere. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Illumina. ILLUMINA_Reports_USD_1119.0_Million_in_Revenue_for_FY2023_Q3_Up_0.4_Year-Over-Year”>More…
| Total Revenues | Net Income | Net Margin |
| 4.46k | -1.12k | -10.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Illumina. ILLUMINA_Reports_USD_1119.0_Million_in_Revenue_for_FY2023_Q3_Up_0.4_Year-Over-Year”>More…
| Operations | Investing | Financing |
| 401 | -248 | -227 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Illumina. ILLUMINA_Reports_USD_1119.0_Million_in_Revenue_for_FY2023_Q3_Up_0.4_Year-Over-Year”>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 10.12k | 4.22k | 37.26 |
Key Ratios Snapshot
Some of the financial key ratios for Illumina are shown below. ILLUMINA_Reports_USD_1119.0_Million_in_Revenue_for_FY2023_Q3_Up_0.4_Year-Over-Year”>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.3% | -28.9% | -23.5% |
| FCF Margin | ROE | ROA |
| 3.8% | -10.5% | -6.5% |
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
ILLUMINA reported total revenue of USD 1119.0 million for Q3 FY2023, a 0.4% year-over-year increase, with net income of USD -754.0 million, compared to last year’s figure of -3816.0 million. Investors were disappointed with the results and the stock price dropped on November 9 2023. Analysts believe the quarter was underwhelming due to the ongoing pandemic, as well as challenges such as increased competition and pricing pressure in the market. Going forward, investors are looking ahead to ILLUMINA’s future performance to gain insight on how the company can continue to improve.
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