Summary by Moomoo AI
Illumina, Inc., a global leader in DNA sequencing and array-based technologies, reported its financial results for the fourth quarter and fiscal year ended December 31, 2023, on February 8, 2024. The company announced a 4% increase in Q4 revenue to $1.12 billion compared to the same period in 2022, and a 2% decrease in annual revenue to $4.50 billion. Despite shipping 79 NovaSeq X instruments in Q4 and 352 in the fiscal year, Illumina experienced a GAAP diluted loss per share of $(1.11) for Q4 and $(7.34) for the fiscal year, which included significant goodwill and intangible impairments related to the GRAIL segment. Non-GAAP diluted earnings per share remained stable at $0.14 for Q4 and decreased to $0.86 for the fiscal year. Illumina also announced its intention to divest GRAIL, aiming to finalize terms by the end of Q2 2024, in compliance with the European Commission's divestiture order. The company's financial outlook for fiscal year 2024 anticipates approximately flat Core Illumina revenue compared to 2023 and a Core Illumina non-GAAP operating margin of around 20%.