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This statistic highlights Illumina’s Revenue by Product Category from Q1 2016 onwards, till the latest quarter, split between Product, Service and Other.
|Revenue by product category||Q3 2020||Q2 2021||Q3 2021||Revenue Contribution in Q3 2021|
|Service and other||$0.12||$0.15||$0.13||11.7%|
(All figures in billions, except percentages)
Illumina generates most of its revenue from the sales of its products. In Q3 2021, 88.3% of the revenue was generated from the sales of the products while only 11.7% of the revenue was generated from the sale of its services. The company’s total revenue increased from $0.79 billion in Q3 2020 to $1.11 billion in Q3 2021, marking a 40% increase on a year-to-year basis. However, the total revenue went down from $1.13 billion in Q2 2021 to $1.11 billion in Q3 2021, marking a dip of 1.7%.
The proprietary technologies are used to sell instruments and consumables used in genetic analysis, such as reagents, flow cells, and microarrays, which generate the majority of our revenue. Customers use the products to examine the genome at various levels of complexity, ranging from targeted panels to whole-genome sequencing. One product that dominates the total revenue is the sequencing instrument.
Products constitute the major part(88.3%) of the total revenue. In Q3 2021, the company generated $0.98 billion from the sale of the products. This marked a 44% increase in revenue as compared to $0.68 billion in Q3 2020. The revenue in Q3 2021 is merely 1% higher than the revenue of $0.97 billion in Q2 2021. The product sector continues to dominate the market share since 2016.
Services and other
Revenue from genotyping and sequencing services, instrument service contracts, development and licensing agreements, and cancer detection testing services related to the GRAIL business make up the majority of this segment. Whole-genome sequencing, genotyping, and product support are some services that the company offers. Illumina’s CLIA-certified, CAP-accredited laboratory offers human whole-genome sequencing services. Customers can use these services to complete whole-genome sequencing and microarray projects (including large-scale genotyping studies and whole-genome association studies). Customers who have purchased the products can also take advantage of their support services.
Services constitute a smaller share (11.7%) of the total revenue. The revenue generated from services in Q3 2021 was $0.13 billion which was 13% lesser as compared to the revenue of $0.15 billion generated in Q2 2021. However, despite the dip, the revenue in Q3 2021 is 8% higher than the revenue of $0.12 billion in Q3 2020.
Illumina serves customers in the research, clinical, and applied markets with sequencing and array-based solutions. Their products and services make genomic solutions more widely available in research and clinical settings. The company was founded in April 1998 in California and renamed in Delaware in July 2000. Their products are mainly used in the fields of life sciences, oncology, reproductive health, and agriculture. Pharmaceutical, biotechnology, commercial molecular diagnostic laboratories, and consumer genomics companies are among their customers, as are leading genomic research centres, academic institutions, government laboratories, and hospitals. The genetic analysis becomes faster and easier for the customers because of the company’s integrated sequencing and microarray systems, consumables, and analysis tools. Customers can choose from a variety of genomic complexity, price points, and throughput options in this portfolio, allowing them to find the best solution for their research or clinical application.
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