The DNA-sequencing giant posted a net income of $334 million, or $2.16 per share, nearly doubling the $187 million reported in the same period last year. On an adjusted basis, Illumina earned $1.35 per share, surpassing the $1.24 consensus estimate from analysts polled by FactSet. Revenue for the quarter rose 5% to $1.16 billion, also ahead of market projections.

Expanding the Multiomics Portfolio

During the final months of the year, the company finalized its acquisition of SomaLogic, a move designed to bolster its presence in the high-growth proteomics market. By integrating SomaLogic’s technology, Illumina aims to offer a more comprehensive multiomics suite, leveraging its established next-generation sequencing (NGS) dominance to scale protein analysis. Management noted the acquisition is a key pillar in maintaining its competitive edge in medical specialties.

Looking ahead, the company issued upbeat guidance for 2026, forecasting revenue between $4.5 billion and $4.6 billion. Management expects adjusted earnings to land between $5.05 and $5.20 per share, which accounts for an 18-cent dilution related to the SomaLogic deal. This outlook slightly edges out analyst expectations of $5.06 per share on $4.41 billion in revenue.

While the headline numbers were strong, internal metrics showed some pressure; free cash flow dipped to $267 million from $322 million a year earlier. The market response was swift and negative, with Illumina's stock falling 7.9% to $123.00 in after-hours trading, reflecting lingering investor caution despite the raised long-term forecast.