Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | N/A | $3,239 | $4,526 | $4,504 | $4,372 |
| Gross Profit | N/A | $2,203 | $3,154 | $2,744 | $2,861 |
| Operating Income | N/A | $580 | -$123 | -$1,069 | -$833 |
| Net Income | N/A | $656 | $762 | -$1,161 | -$1,223 |
Over the five-year period, Illumina’s financial performance shows notable fluctuations. The data for 2020 is not indicative of operations, but from 2021 onward the company posted meaningful revenue and profit figures. In 2021, revenue was US$3,239 million, with a gross profit of US$2,203 million and a net income of US$656 million, reflecting a solid operating performance. In 2022, revenue increased sharply by nearly 40% to US$4,526 million and gross profit climbed to US$3,154 million; net income also grew to US$762 million. However, operating income dipped into negative territory at –US$123 million, signaling rising operational expenses or other cost pressures despite the top-line expansion. The following years, 2023 and 2024, marked a turning point as revenues and margins contracted. Revenue slightly declined in 2023 (US$4,504 million) and further to US$4,372 million in 2024, while gross profit fell to US$2,744 million in 2023 and recovered modestly to US$2,861 million in 2024. More concerning is the dramatic swing in operating income—from a modest deficit of –US$123 million in 2022 to a much larger loss of –US$1,069 million in 2023 and –US$833 million in 2024—and the net income turning significantly negative (–US$1,161 million in 2023 and –US$1,223 million in 2024). These swings, each exceeding a 20% change year-over-year, likely indicate escalating operational or market pressures, increased costs, or strategic shifts affecting profitability margins in a rapidly evolving genomics and biotech industry. Overall, while revenue growth in the earlier period was robust, the substantial operational losses in recent years raise concerns about the company’s short-term profitability and sustainability, warranting closer scrutiny of cost management and strategic direction.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.