The San Diego company also lowered its financial guidance for 2025 in response to China’s import restrictions.

Illumina is reducing its forecast for this year’s financial performance and cutting $100 million in spending because China barred sales of the company’s gene-sequencing machines. San Diego-based Illumina is lowering its 2025 guidance to $4.

Illumina slashes costs by $100 million after China bans its sequencers. The company lowers its 2025 EPS outlook and aims for high-single-digit growth by 2027.

Illumina will seek to cut $100 million in expenses by the end of this fiscal year as it plans to deal with a loss of revenue from China, after the country banned the importation of its DN | Illumina also lowered its annual financial forecast,

Illumina lowered its adjusted profit outlook and cut spending cost for 2025 as the company grapples with Chinese ban on its gene sequencers. Read more here.

Illumina on Monday lowered its annual forecast and said it plans to cut $100 million in spending after China announced a ban on imports of its genetic sequencing instruments. The company said it now expects 2025 adjusted profit of about $4.