Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | N/A | $3,239 | $4,526 | $4,504 | $4,372 |
| Gross Profit | N/A | $2,203 | $3,154 | $2,744 | $2,861 |
| Operating Income | N/A | $580 | -$123 | -$1,069 | -$833 |
| Net Income | N/A | $656 | $762 | -$1,161 | -$1,223 |
Over the five-year period, Illumina’s revenue and gross profit metrics indicate a strong top-line growth in 2022, with revenue increasing by roughly 40% from 2021’s 3,239 million USD to 4,526 million USD and gross profit rising by a similar magnitude. However, despite these substantial gains, the company experienced significant challenges further down the income statement. In 2021, Illumina reported a healthy operating income of 580 million USD and a net income of 656 million USD; yet, by 2022, operating income had swung to a negative -123 million USD despite a modest growth in net income to 762 million USD. This suggests that while the company was effectively expanding sales, the cost structure, pricing pressures, or other operational factors began eroding profitability. The situation deteriorated further in 2023, when revenue slightly declined to 4,504 million USD and gross profit fell to 2,744 million USD, while operating income plunged sharply to -1,069 million USD and net income turned negative at -1,161 million USD. There was a partial recovery in 2024 with revenue and gross profit stabilizing near 4,372 million USD and 2,861 million USD, respectively, and a modest improvement in operating income and net income to -833 million USD and -1,223 million USD. Given Illumina’s prominent role in the genomics and biotechnology industry—a sector characterized by high R&D intensity and rapid innovation—the negative swing in operating and net income underscores potential margin pressures or increased investments impacting short-term profitability. Overall, while the company’s revenue growth and gross profit levels signal a robust market position, the sustained operability losses raise concerns regarding cost management and long-term financial sustainability.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.