Shares of Illumina (NASDAQ: ILMN), a leading provider of DNA sequencing technologies, surged 5.11% in pre-market trading on Tuesday. The stock rally came after the company reported preliminary financial results for the fourth quarter and full year 2024, along with a positive outlook for the upcoming fiscal year 2025.

According to the preliminary results, Illumina recorded revenue of approximately $1.1 billion for the fourth quarter of 2024, representing a 1% increase compared to the same period in the previous year. For the full fiscal year 2024, the company reported revenue of around $4.33 billion, down 2% from 2023.

Illumina's non-GAAP earnings per share (EPS) for the fourth quarter of 2024 are expected to be in the range of $0.91 to $0.93, while the full-year 2024 non-GAAP EPS is projected to be between $4.12 and $4.14. The company's cash flow from operations for 2024 stood at approximately $1.21 billion, with free cash flow reaching around $1.07 billion.

Looking ahead to fiscal year 2025, Illumina provided an optimistic outlook, forecasting low single-digit revenue growth on a constant currency basis. The company expects reported revenue to range between $4.28 billion and $4.4 billion, with a non-GAAP operating margin of approximately 23%. Additionally, Illumina anticipates its non-GAAP diluted EPS to grow by approximately 10% in 2025.