• Revenue of $1.12 billion for Q3 2022, up 1% from Q3 2021, and up 3% on a constant currency basis
• GAAP diluted loss per share of $(24.26) for Q3 2022, compared to GAAP diluted earnings per share of $2.08 for Q3 2021; GAAP diluted loss per share for Q3 2022 includes goodwill impairment of $3.91 billion related to the GRAIL segment
• Non-GAAP diluted earnings per share of $0.34 for Q3 2022, compared to non-GAAP diluted earnings per share of $1.45 for Q3 2021
• Expect full year revenue for fiscal year 2022 to be flat to 1% higher compared to fiscal year 2021, primarily reflecting year-to-date growth in sequencing consumables revenue, largely offset by a fourth quarter decline in select research project sample volume; delayed purchases ahead of the upcoming availability of NovaSeq X and from customer inventory and capital management; and incremental foreign exchange headwinds
• Expect GAAP diluted loss per share of $(26.56) to $(26.41) for fiscal year 2022, which includes goodwill impairment of $3.91 billion related to the GRAIL segment
• Expect non-GAAP diluted earnings per share of $2.35 to $2.50 for fiscal year 2022

 Illumina, Inc. (Nasdaq: ILMN) today announced its financial results for the third quarter of fiscal year 2022, which include consolidated financial results for GRAIL.

"Our third-quarter results were in line with our expectations, with traction across our portfolio offset by challenging macroeconomic dynamics that we expect will continue into 2023," said Francis deSouza, Chief Executive Officer. "Customer response to our latest innovations has been very positive; we already have 50 NovaSeq X orders globally. As we close out 2022 and look toward 2023, we are focused on helping customers navigate the current environment and delivering these technologies to help customers reimagine what's possible with genomics."

Third quarter consolidated results

Capital expenditures for free cash flow purposes were $67 million during the third quarter of 2022. Cash flow used in operations was $(52) million, which included a one-time payment related to the litigation settlement with BGI, compared to $(272) million in the prior year period, which included transaction expenses related to the GRAIL acquisition on August 18, 2021. Free cash flow (cash flow used in operations less capital expenditures) was $(119) million for the quarter, compared to $(324) million in the prior year. Depreciation and amortization expenses were $103 million during the third quarter of 2022. At the close of the quarter, the company held $1,041 million in cash, cash equivalents and short-term investments, compared to $1,339 million as of January 2, 2022.

Source: Illumina Reports Financial Results for Third Quarter of Fiscal Year 2022