Full-Time
Updated on 9/15/2026
Develops sequencing platforms and consumables
$141.6k - $212.4k/yr
No H1B Sponsorship
San Diego, CA, USA
In Person
Bachelor's, Master's, PhD
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Illumina provides integrated sequencing platforms and related consumables for analyzing genetic variation and biological function. Its instruments range from high-throughput NovaSeq systems to benchtop MiSeq/iSeq units, all built on sequencing-by-synthesis technology acquired from Solexa. Revenue comes from instrument sales plus a recurring stream of consumables, reagents, library preparation kits, and services. The company differentiates itself with a broad end-to-end ecosystem and strategic acquisitions (Solexa, GRAIL, SomaLogic) that expand capabilities into multiomics and clinical diagnostics.
Company Size
5,001-10,000
Company Stage
IPO
Headquarters
San Diego, California
Founded
1998
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Professional Development Budget
Illumina will join the S&P 500 index on 21 September, alongside Bloom Energy and Everpure, replacing Molson Coors Beverage, The Trade Desk, and Builders FirstSource. S&P Dow Jones Indices announced the rebalancing on Friday. The San Diego-based genetic sequencing company, valued at $33 billion, has returned 112% over the past 12 months. The inclusion will trigger buying from passive funds tracking the index. Illumina is moving from the S&P MidCap 400, signalling its growth into large-cap status. In the second quarter, the company reported revenue of $1.16 billion, up 9.5% year-over-year, with earnings per share rising approximately 10% to $1.31.
Illumina reported second-quarter revenues of $1.16 billion, marking a 9.4% year-on-year increase that exceeded analyst expectations by 2.5%. The DNA sequencing and microarray technology company delivered strong organic revenue performance and raised its full-year earnings guidance. Chief executive Jacob Thaysen attributed the results to growing momentum in sequencing-intensive applications among clinical customers. The company increased its revenue and earnings guidance for the year based on this performance. Illumina's shares rose 10% following the earnings announcement and currently trade at $225.55. The results came as part of a strong second quarter for the life sciences tools and services sector overall, with the 20 tracked stocks in the group beating revenue estimates by 2.6% on average.
Illumina has entered into a $1 billion credit facility with Bank of America serving as administrative agent. The genomics company announced the agreement after market close on Thursday. The credit facility also includes an underwriting agreement for a note offering, though specific terms were not disclosed in the announcement.
Illumina has filed to issue senior notes maturing in 2029, expecting to raise approximately $750 million. The unsecured notes will rank equally with the company's other unsecured debt and feature a yield near the current US Treasury benchmark. Proceeds will primarily repay an earlier 4.65% note due in September 2026. By extinguishing higher-cost debt, Illumina aims to reduce its interest burden and improve its debt-to-equity ratio. The company expects its weighted average cost of capital to decrease from 5.8% to an estimated 4.9%. The notes include a make-whole redemption clause and a change-of-control provision requiring Illumina to purchase notes at 101% of principal plus interest. Illumina holds Moody's A-3 and S&P A- credit ratings. The refinancing supports ongoing investment in next-generation sequencing platforms, data analytics, and cloud-based services whilst enhancing financial flexibility for strategic acquisitions and R&D funding.
Illumina reported second quarter 2026 revenue of $1.16 billion, up 9.5% from the prior year period. The San Diego-based genomics company posted GAAP diluted earnings per share of $1.35 and non-GAAP diluted earnings per share of $1.31. Chief executive Jacob Thaysen said momentum built through the first half of 2026 as the company's technology enabled clinical customers to expand sequencing-intensive applications. He noted that demand for NovaSeq X remains high. Based on this performance, Illumina raised its full-year 2026 revenue guidance to $4.60-$4.64 billion, up from prior guidance of $4.52-$4.62 billion. The company increased its non-GAAP diluted earnings per share guidance to $5.30-$5.40, versus prior guidance of $5.15-$5.30.