Omnicell Inc

Latest Results (07.08.2024):

Total Revenues

Omnicell Inc. reported total revenues of $277 million for the second quarter of 2024. This represents a decrease of $22 million, or 7%, compared to the second quarter of 2023. The decline in revenue is attributed to a challenging environment for some health system customers and the timing of the XT Series automated dispensing systems lifecycle.

Net Income

For the second quarter of 2024, Omnicell Inc. achieved a GAAP net income of $4 million, or $0.08 per diluted share. This is an increase from the GAAP net income of $3 million, or $0.08 per diluted share, reported in the second quarter of 2023. Non-GAAP net income for the same period was $24 million, or $0.51 per diluted share, compared to $26 million, or $0.57 per diluted share, in the previous year.

EBITDA

Omnicell Inc. reported a non-GAAP EBITDA of $40 million for the second quarter of 2024. This is a decrease from the non-GAAP EBITDA of $47 million reported in the second quarter of 2023. The company continues to focus on optimizing its cost structure and driving synergies across its operations.

Cash Flow and Debt

As of June 30, 2024, Omnicell Inc. had cash and cash equivalents totaling $557 million and total debt of $571 million. Cash flows provided by operating activities in the second quarter of 2024 were $59 million, compared to $73 million in the second quarter of 2023. The company also had $350 million of availability under its revolving credit facility with no outstanding balance.

2024 Guidance

Omnicell Inc. has updated its 2024 annual guidance based on strong first-half performance. The company expects full-year 2024 total revenues to be between $1.070 billion and $1.110 billion. Non-GAAP EBITDA is projected to be between $105 million and $125 million, while non-GAAP earnings per share are expected to range from $1.20 to $1.50. For the third quarter of 2024, total revenues are anticipated to be between $275 million and $285 million.