Illumina reported $1.08 billion in Q3 revenue, roughly flat year‑over‑year, but beat adjusted EPS estimates and raised full‑year 2025 guidance modestly. CEO Jacob Thaysen said revenue acceleration in the clinical segment and a return to growth outside China underpinned the quarter, while R&D spending fell and share repurchases continued. The company now expects a smaller revenue decline in 2025 on a constant‑currency basis than previously forecast and raised adjusted EPS guidance to $4.65–$4.75. Management highlighted execution against strategic pillars — clinical applications and geographic recovery — but noted lingering headwinds in legacy research markets. For sequencing and genomics customers, Illumina’s results signal steady clinical demand even as broader academic funding remains soft. The quarter will be read as a stabilization step rather than a full inflection back to growth.