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Illumina ILMN Service — Cost of revenue

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Other financials

Income statement

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Revenue$1.1B+4.8%
Gross profit$721.0M+5.6%
Operating income$209.0M+27.4%
Net income$134.0M+2.3%
EPS (diluted)$0.87+6.1%

Balance sheet

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Cash & equivalents$1.1B-2.2%
Total debt$2.0B-3.0%
Total equity$2.7B+13.0%
Total assets$6.6B+6.1%

Cash flow

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Operating cash flow$289.0M+20.4%
CapEx$38.0M+18.8%
Free cash flow$251.0M+20.7%

Valuation

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Market cap$26.6B+91.5%
Enterprise value$27.56B+83.6%
P/E31.2×+20.1×
P/S6.1×+2.8×

Profitability

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Gross margin66.2%-0.1pp
Operating margin19.4%
Net margin19.4%+12.7pp
FCF margin22.2%+2.0pp

Returns & leverage

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Return on equity33.8%+23.9pp
Debt / equity0.8×-0.1×
Current ratio1.7×-0.1×

Where this comes from

Reported directly by Illumina in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

The official record: Illumina’s 10-Q, filed May 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Illumina's service — cost of revenue?
Illumina (ILMN) reported service — cost of revenue of $80M in Q1 2026.
How has Illumina's service — cost of revenue changed year-over-year?
Illumina's service — cost of revenue decreased by 9.1% year-over-year, from $88M to $80M.
What is the long-term trend for Illumina's service — cost of revenue?
Over 4 years (2021 to 2025), Illumina's service — cost of revenue has grown at a 5.5% compound annual growth rate (CAGR), from $241M to $299M.
What does service — cost of revenue mean?
This metric captures the direct costs incurred to deliver maintenance, repair, and technical support services for sequencing instruments. It includes expenses such as field service engineer labor, replacement parts, logistics, and overhead directly attributable to the service segment. Monitoring this cost is essential for evaluating the profitability and operational efficiency of the company's service delivery model.