Illumina reported flat full‑year 2025 revenue but a meaningful uptick in clinical sequencing consumables, which management said rose on increased uptake of sequencing‑based diagnostics including comprehensive genomic profiling. The company booked strong NovaSeq X placements late in the year and disclosed a $50 million acquisition of short‑read sequencing‑by‑binding IP from Pacific Biosciences to expand portfolio optionality. CEO Jacob Thaysen credited sequencing‑intense clinical applications for driving consumables demand and instrument placements. Investors will parse whether Illumina can convert consumables momentum into sustained growth amid competitive and macro pressures; the company signalled confidence in clinical sequencing adoption even as China revenue lagged.