Business
Omnicell Announces Second Quarter 2024 Results
Results exceed previously issued second quarter guidance across all metrics Total revenues of $277 million GAAP net income per diluted share of $0.08
About this update from Omnicell, Inc.
[{"type":"text","content":"\nResults exceed previously issued second quarter guidance across all metrics\n\n\nTotal revenues of $277 million\n\n\nGAAP net income per diluted share of $0.08\n\n\nNon-GAAP net income per diluted share of $0.51\n\n\nRaises 2024 non-GAAP EBITDA and non-GAAP earnings per share guidance\n\n\n FORT WORTH, Texas--(BUSINESS WIRE)--\nOmnicell, Inc. (NASDAQ:OMCL) (“Omnicell,” “we,” “our,” “us,” “management,” or the “Company”), a leader in transforming the pharmacy care delivery model, today announced results for its second quarter ended June 30, 2024.\n\n\nRandall Lipps, chairman, president, chief executive officer, and founder of Omnicell, said, “We are pleased with the second quarter results that we announced today, which exceeded our previously issued guidance across all key metrics, including revenue, non-GAAP EBITDA and non-GAAP earnings per share. The strong results this quarter reflect improving macro trends and solid execution by the Omnicell team.”\n\n\n“We have concluded a holistic review of our business and have identified several potential areas across our operations where we believe we can drive synergies, streamline processes, and optimize our cost structure. We are investing in innovation to support our XT fleet and other areas of pharmacy automation, and it appears to be resonating well with our customers. The holistic business review validates our confidence in our refreshed strategy with an emphasis on connected devices, while also continuing to offer services that are expected to increase our recurring revenue. We are excited about our multiyear journey focused on bringing outcomes-centric solutions to the market. We remain confident in Omnicell’s long-term opportunities and intend to remain focused on strong execution and enhancing stockholders returns,” Mr. Lipps concluded.\n\n\nFinancial Results\n\n\nTotal revenues for the second quarter of 2024 were $277 million, down $22 million, or 7%, from the second quarter of 2023. The year-over-year decrease in total revenues reflects the impact of a continued challenging environment for some of our health system customers and the timing of our XT Series automated dispensing systems lifecycle, as we are largely through the replacement cycle.\n\n\nTotal GAAP net income for the second quarter of 2024 was $4 million, or $0.08 per diluted share. This compares to GAAP net inco...