- During JP Morgan Conference, Illumina Inc (NASDAQ:ILMN) announced interim Q4 FY22 sales of $1.075 billion, lower than $1.10 billion in Q3 FY22. Grail sales reached $30 million.
- It recorded NextSeq 1k/2k shipments and orders and 750 total sequencing instruments shipped.
- Related: Illumina's Q3 Profits Hit By Impairment Of Almost $4B, Cuts Annual Guidance.
- For FY22, consolidated sales reached around $4.576 billion, missing the consensus of $4.71 billion. Grail revenues reached $55 million.
- For FY23, Illumina sees sales of $4.90–$5.03 billion, representing a growth of 7%-10%, below the initial 10% outlook provided when its third quarter results were released, with adjusted EPS of $1.25–$1.50, well below the consensus of $2.99.
- The company expects Grail revenues of $90-$110 million, with an adjusted operating loss of $(670) million.
- Illumina expects to ship between 40 and 50 NovaSeq X instruments in Q1 and more than 300 in 2023.
- During the presentation, the company also highlighted the day's earlier announcement that the firm would partner with Amgen Inc (NASDAQ:AMGN) to sequence 35,000 samples from the Nashville Biosciences biobank. The deal could lead to the largest genomic dataset of African Americans, who have been underrepresented in genomic research.
- Stifel analyst says the interim Q4 results were solid given the potential for choppy trends ahead of the new Nova X cycle - though the guide for FY23 has softened a bit from the Oct view. The analyst keeps a Buy rating.
- Additionally, those hoping for a meaningful advance in the conversation around a GRAIL divestiture were left unfulfilled.
- SVB Leerink writes that investor appetite for further challenges at ILMN remains limited. Still, the core long-term thesis remains intact, with its gross margin improving as NovaSeq X+ product launch progresses and as GRAIL is potentially divested.
- It keeps the Outperform rating but lowers the price target to $249.
- Price Action: ILMN shares are down 6.17% at $194.56 on the last check Tuesday.
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
