Illumina, Inc.'s (ILMN) CEO Francis deSouza on Q2 2022 Results - Earnings Call Transcript

Illumina, Inc. (NASDAQ:ILMN) Q2 2022 Earnings Conference Call August 11, 2022 5:00 PM ET

Company Participants

Salli Schwartz - Vice President, Investor Relations

Francis deSouza - President & Chief Executive Officer

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

Conference Call Participants

Derik De Bruin - Bank of America

Dan Brennan - Cowen

Dan Arias - Stifel

David Westenberg - Piper Sandler

Julia Qin - JPMorgan

Tejas Savant - Morgan Stanley

Puneet Souda - SVB Securities

Kyle Mikson - Canaccord

Patrick Donnelly - Citi

Vijay Kumar - Evercore ISI

Jack Meehan - Nephron

Operator

Good day, ladies and gentlemen, and welcome to the Second Quarter 2022 Illumina Earnings Conference Call. At this time, all participants are in listen-only mode. After the speakers' presentation, there will be a question-and-answer session. Please be advised that today's call is being recorded.

I would now like to hand the call over to Salli Schwartz, Vice President of Investor Relations. Please go ahead.

Salli Schwartz

Hello, everyone, and welcome to our earnings call for the second 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 have not had a chance to review these 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 & 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 two 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.