What is Illumina's R&D?

Illumina (ILMN) reported R&D of $252M in Q2 2026.

How has Illumina's R&D changed year-over-year?

Illumina's R&D increased by 2.0% year-over-year, from $247M to $252M.

What is the long-term trend for Illumina's R&D?

Over 4 years (2021 to 2025), Illumina's R&D has grown at a -5.0% compound annual growth rate (CAGR), from $1.19B to $967M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Illumina ILMN R&D

R&D at other companies

RevvityRVTY

$57.89M+8.0%

Thermo Fisher ScientificTMO

$364M—

AzentaAZTA

$9.43M+24.1%

Personalis, Inc.PSNL

$14.54M+15.0%

Guardant HealthGH

$91.04M+2.8%

Twist Bioscience CorporationTWST

$19.7M-17.7%

Other financials

Income statement

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Revenue$1.2B+9.4%

Gross profit$770.0M+10.8%

Operating income$245.0M+14.5%

Net income$207.0M-11.9%

EPS (diluted)$1.35-9.4%

Balance sheet

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Cash & equivalents$1.0B+11.3%

Total debt$1.9B-7.3%

Total equity$2.8B+25.7%

Total assets$6.7B+9.2%

Cash flow

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Operating cash flow$201.0M-14.1%

CapEx$39.0M+30.0%

Free cash flow$162.0M-20.6%

Valuation

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Market cap$29.2B+69.7%

Enterprise value$30.1B+63.8%

P/E35.4×+21.7×

P/S6.5×+2.5×

Profitability

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Gross margin66.4%-0.2pp

Operating margin19.6%—

Net margin18.4%-11.0pp

FCF margin20.7%-3.3pp

Returns & leverage

See full

Return on equity32.4%-35.7pp

Debt / equity0.7×-0.2×

Current ratio1.8×0.0×

Where this comes from

Reported directly by Illumina in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Illumina’s 8-K, filed July 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Illumina's R&D?: Illumina (ILMN) reported R&D of $252M in Q2 2026.
How has Illumina's R&D changed year-over-year?: Illumina's R&D increased by 2.0% year-over-year, from $247M to $252M.
What is the long-term trend for Illumina's R&D?: Over 4 years (2021 to 2025), Illumina's R&D has grown at a -5.0% compound annual growth rate (CAGR), from $1.19B to $967M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.