ILLUMINA, INC.
For the period ended Dec 28, 2025. Filed Feb 12, 2026.
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FY2025 · Filed Feb 12, 2026
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2. Revenue
Our revenue is generated from the sale of products and services. Product revenue consists of sales of instruments and consumables used in genetic analysis. Service and other revenue consists of revenue generated from genotyping and sequencing services, instrument service contracts, development and licensing agreements, and prior to the Spin-Off of GRAIL on June 24, 2024, cancer detection testing services related to the GRAIL business.
Revenue by Source
| 2025 | 2024 | 2023 | |||||||
|---|---|---|---|---|---|---|---|---|---|
| In millions | Sequencing | Microarray | Total | Sequencing | Microarray | Total | Sequencing | Microarray | Total |
| Consumables | $2,939 | $288 | $3,227 | $2,858 | $297 | $3,155 | $2,790 | $293 | $3,083 |
| Instruments | 465 | 17 | 482 | 484 | 17 | 501 | 685 | 19 | 704 |
| Total product revenue | 3,404 | 305 | 3,709 | 3,342 | 314 | 3,656 | 3,475 | 312 | 3,787 |
| Service and other revenue | 581 | 53 | 634 | 651 | 65 | 716 | 637 | 80 | 717 |
| Total revenue | $3,985 | $358 | $4,343 | $3,993 | $379 | $4,372 | $4,112 | $392 | $4,504 |
Revenue by Geographic Area
| Based on region of destination (in millions) | 2025 | 2024 | 2023 |
|---|---|---|---|
| Americas (1) | $2,406 | $2,441 | $2,521 |
| Europe | 1,264 | 1,185 | 1,140 |
| Greater China (2) | 243 | 308 | 384 |
| Asia-Pacific, Middle East and Africa (3) | 430 | 438 | 459 |
| Total revenue | $4,343 | $4,372 | $4,504 |
(1)Americas revenue included United States revenue of $2,243 million, $2,288 million, and $2,359 million in 2025, 2024, and 2023, respectively.
(2)Region includes revenue from China, Taiwan, and Hong Kong.
(3)Region includes revenue from Russia and Turkey.
Contract Assets and Liabilities
Contract assets, which consist of revenue recognized and performance obligations satisfied or partially satisfied in advance of customer billing, as of December 28, 2025 and December 29, 2024, were $21 million and $16 million, respectively, all of which were short-term and recorded in prepaid expenses and other current assets.
Contract liabilities, which consist of deferred revenue and customer deposits, as of December 28, 2025 and December 29, 2024, were $346 million and $327 million, respectively, of which the short-term portions of $270 million and $260 million, respectively, were recorded in accrued liabilities and the remaining long-term portions were recorded in other long-term liabilities. Revenue recorded in 2025 included $244 million of previously deferred revenue that was included in contract liabilities as of December 29, 2024.
Remaining Performance Obligations
We regularly enter into contracts with multiple performance obligations. These contracts are believed to be firm as of the balance sheet date. However, we may allow customers to make product substitutions as we launch new products. The timing of shipments depends on several factors, including agreed upon shipping schedules, which may span multiple quarters. Most performance obligations are generally satisfied within approximatelysix months after the contract execution date. As of December 28, 2025, the aggregate amount of the transaction price allocated to remaining performance obligations was $738 million, of which approximately 77% is expected to be converted to revenue in 2026, approximately 13% in the following twelve months, and the remainder thereafter.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.