Illumina, Inc. (NASDAQ: ILMN) made headlines today as its stock surged by 5.9%, reaching a trading price of $141.57 per share. The company just announced its unaudited preliminary financial results for the fourth quarter and fiscal year 2023 ahead of its presentation at the 42nd annual J.P. Morgan Healthcare Conference.
According to the press release, Illumina reported consolidated revenue of approximately $1,115 million for Q4 2023, marking a 3% increase from the same period in 2022. For the fiscal year 2023, the company's consolidated revenue amounted to around $4,497 million, reflecting a 2% decrease from the previous year. Core Illumina revenue for Q4 2023 stood at approximately $1,090 million, up 2% from Q4 2022, and about $4,431 million for the fiscal year 2023, down 3% from fiscal year 2022.
In terms of operating margins, the company disclosed a consolidated GAAP operating margin of approximately (15.5%) for Q4 2023 and approximately (24.0%) for the fiscal year 2023. On a non-GAAP basis, the operating margin was approximately 3.8% for Q4 2023 and about 5.3% for fiscal year 2023. Core Illumina GAAP operating margin was approximately 2.4% for Q4 2023 and approximately 12.3% for the fiscal year 2023. Meanwhile, the core Illumina non-GAAP operating margin was around 18.0% for Q4 2023 and approximately 19.8% for fiscal year 2023.
"We are pleased with our preliminary financial results for the fourth quarter and fiscal year 2023, especially the growth in our core Illumina revenue," said the management team.
As previously announced, Illumina expects to release its full fourth quarter and fiscal year 2023 results after the close of the market on Thursday, February 8, 2024.
The company's full 8-K submission is available here.
