Business
Omnicell Announces Preliminary Fiscal Year 2020 Financial Results
Company Expects to Exceed Previously Announced Guidance Across All Key Metrics; Provides Full Year 2021 Guidance and Updates Long-Term Targets 2020 Total
About this update from Omnicell, Inc.
[{"type":"text","content":"\nCompany Expects to Exceed Previously Announced Guidance Across All Key Metrics; Provides Full Year 2021 Guidance and Updates Long-Term Targets\n\n2020 Total Product Bookings Expected to be Approximately $1.00 Billion and 2020 Revenues Expected to be $890 Million-$892 Million \n\nIncreased Full Year 2021 Preliminary Revenue Guidance to $1.085 Billion-$1.105 Billion \n\nTargeting 14%-15% 2021-2025 Revenue CAGR (Organic 11%-12%; Inorganic 3%)\n\nAnnounced 2025 Targets of Approximately 21% Non-GAAP Operating Margin and Approximately 25% Non-GAAP EBITDA Margin\n\nWith Two New Adds in the Fourth Quarter of 2020, Ended Year with Long-Term, Sole-Source Agreements with 145 of Top 300 U.S. Health Systems \n\nCompany to Present at the J.P. Morgan Annual Healthcare Conference Today at 2:00 P.M. ET\n\n MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--\nOmnicell, Inc. (NASDAQ: OMCL), a leading provider of medication management solutions and adherence tools for health systems and pharmacies, today announced preliminary financial results for its fiscal year ended December 31, 2020 and provided full year 2021 guidance. For 2020, the Company expects to exceed its pre-pandemic product bookings guidance and also expects to exceed its October 2020 guidance across all key metrics, including revenues, total product bookings and non-GAAP earnings per share.\n\n“The past year was an outstanding one for Omnicell as we continued to drive growth in our business, execute well on our strategic priorities, and deliver tremendous value to our health system partners, patients and shareholders,” said Randall Lipps, chairman, president, chief executive officer, and founder of Omnicell. “Against the backdrop of the ongoing pandemic, it is clear that Omnicell’s medication management solutions are more strategically relevant than ever, and that Omnicell is the partner of choice. We achieved substantial increases in new customer wins and bookings, as well as expanded our portfolio of solutions both organically and through a strategic and accretive acquisition. I am also pleased to report we have accelerated our shift to the cloud and have high revenue visibility from our recurring revenues, long-term, sole-source agreements within the top 300 U.S. health systems and strong product backlog. We look forward to building on our momentum in 2021 and beyond, and we are confident ...