Illumina, Inc. (ILMN) Q3 2022 Earnings Call Transcript

Illumina, Inc. (NASDAQ:ILMN) Q3 2022 Earnings Conference Call November 3, 2022 5:00 PM ET

Company Participants

Salli Schwartz - Vice President of Investor Relations

Francis deSouza - President & Chief Executive Officer

Joydeep Goswami - Chief Strategy & Corporate Development Officer, Interim Chief Financial Officer

Conference Call Participants

Dan Brennan - Cowen

Vijay Kumar - Evercore ISI

Dan Arias - Stifel

Puneet Souda - SVB Securities

Julia Qin - JPMorgan

David Westenberg - Piper Sandler

Michael Ryskin - Bank of America

Kyle Mikson - Canaccord

Tejas Savant - Morgan Stanley

Dan Leonard - Credit Suisse

Patrick Donnelly - Citi

Luke Sergott - Barclays

Jack Meehan - Nephron Research

Operator

Good day, ladies and gentlemen and welcome to the Third Quarter 2022 Illumina Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to Salli Schwartz, Vice President of Investor Relations.

Salli Schwartz

Hello, everyone and welcome to our earnings call for the third quarter of 2022. During the call today, we will review the financial results released after the close of the market and offer commentary on our commercial activity, after which we will host a question-and-answer session. If you had not had a chance to review the earnings release, it can be found in the Investor Relations section of our website at illumina.com.

Participating for Illumina today will be Francis deSouza, President and Chief Executive Officer; and Joydeep Goswami, Chief Strategy and Corporate Development Officer, as well as Interim Chief Financial Officer. Francis will provide an update on the state of Illumina's business and Joydeep will review our financial results which include GRAIL. As a reminder, pending the outcome of the European Commission's investigation into Illumina's acquisition of GRAIL, the commission has adopted an order requiring Illumina and GRAIL to be held and operated as distinct and separate entities for an interim period. Compliance with the order is monitored by an independent monitoring trustee. During this period, Illumina and GRAIL are not permitted to share confidential business information unless legally required and GRAIL must be run independently exclusively in the best interest of GRAIL. Commercial interactions between the 2 companies must be undertaken at arm's length.

This call is being recorded and the audio portion will be archived in the Investors section of our website. It is our intent that all forward-looking statements regarding our financial results and commercial activity made during today's call will be protected under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties. Actual events or results may differ materially from those projected or discussed. All forward-looking statements are based upon current available information and Illumina assumes no obligation to update these statements. To better understand the risks and uncertainties that could cause actual results to differ, we refer you to the documents that Illumina files with the Securities and Exchange Commission, including Illumina's most recent Forms 10-Q and 10-K.