Edwyn
Over the five-year period, Illumina’s revenue and gross profit showed an initial strong growth followed by a more volatile performance. In 2021, the company posted revenue of 3,239 million USD with a gross profit of 2,203 million USD, setting a solid baseline. The following year, revenue increased significantly by about 40% to 4,526 million USD, and gross profit rose to 3,154 million USD. However, this revenue boost was not sustained in subsequent years; revenues declined modestly to 4,504 million USD in 2023 and further to 4,372 million USD in 2024. Gross profit followed the revenue trend, hitting a low of 2,744 million USD in 2023 before slightly recovering to 2,861 million USD in 2024. A more critical trend is observed in Illumina’s operating and net income. In 2021, the company recorded an operating income of 580 million USD and a net income of 656 million USD, indicating strong profitability. In 2022, operating income turned negative at -123 million USD—a dramatic shift representing a swing of over 120% from the previous positive operating margin—while net income remained positive at 762 million USD, suggesting resilience in other areas. The situation deteriorated further in 2023, as operating income plunged to -1,069 million USD and net income turned into a loss of -1,161 million USD, before a modest improvement in operating income to -833 million USD in 2024, though net income worsened to -1,223 million USD. These sharp swings, particularly in operating income, may be attributed to escalating operational costs or restructuring challenges amid competitive and market pressures in the genomics industry. Overall, while the revenue and gross profit figures remain robust, the persistent negative operating and net margins raise concerns about the company’s cost management and long-term financial sustainability.
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.