Omnicell, Inc. Files 2023 10-K Report

TL;DR

<b>Omnicell, Inc. filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

OMNICELL, INC. (OMCL) filed a Annual Report (10-K) with the SEC on February 28, 2024. Omnicell, Inc. reported its fiscal year 2023 results, with the filing dated February 28, 2024. The company's fiscal year ends on December 31st. The filing covers the period from January 1, 2023, to December 31, 2023. Omnicell, Inc. is classified under SIC code 3571 for Electronic Computers. The company's principal business address is located at 4220 North Freeway, Fort Worth, TX 76137.

Why It Matters

For investors and stakeholders tracking OMNICELL, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Omnicell's financial performance, operational activities, and strategic positioning for the fiscal year 2023. Investors and analysts can use this report to assess the company's financial health, identify potential risks, and evaluate future growth prospects.

Risk Assessment

Risk Level: medium — OMNICELL, INC. shows moderate risk based on this filing. The company's financial performance and future outlook are subject to various market and operational risks detailed within the 10-K filing, which are typical for companies in the technology and healthcare sectors.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Omnicell's performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-28 — Filing Date (Filed as of date)
• 3571 — SIC Code (Standard Industrial Classification)
• DE — State of Incorporation (State of incorporation)

Key Players & Entities

• OMNICELL, INC. (company) — Filer name
• 2023-12-31 (date) — Conformed period of report
• 2024-02-28 (date) — Filed as of date
• 4220 NORTH FREEWAY (address) — Business address street 1
• FORT WORTH (address) — Business address city
• TX (address) — Business address state
• 76137 (address) — Business address zip
• 0000926326-24-000008 (filing_id) — Accession number

FAQ

Industry Context

Omnicell operates in the healthcare technology sector, providing solutions for medication management and pharmacy automation.

Regulatory Implications

As a publicly traded company, Omnicell is subject to the reporting requirements of the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze Omnicell's revenue streams and growth trends for product and service segments.
2. Examine the company's balance sheet for key financial metrics like debt-to-equity and cash position.
3. Review any disclosed risk factors to understand potential challenges to Omnicell's business.

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value OMCL NASDAQ Global Select Mar
• $634 b — ss Strategy The U.S. spent a tota l of $634 bil lion on prescription drugs in 2022, a
• $420 billion — spending projected to be approximately $420 billion in 2025. Specialty pharmacies serve as

Filing Documents

• omcl-20231231.htm (10-K) — 2381KB
• exhibit1032-draftindemnity.htm (EX-10.32) — 65KB
• exhibit211q4-23.htm (EX-21.1) — 16KB
• exhibit231q4-23.htm (EX-23.1) — 3KB
• exhibit311q4-23.htm (EX-31.1) — 11KB
• exhibit312q4-23.htm (EX-31.2) — 11KB
• exhibit321q4-23.htm (EX-32.1) — 7KB
• exhibit971omclcompensation.htm (EX-97.1) — 24KB
• omcl-20231231_g1.jpg (GRAPHIC) — 107KB
• 0000926326-24-000008.txt (&nbsp;) — 13507KB
• omcl-20231231.xsd (EX-101.SCH) — 87KB
• omcl-20231231_cal.xml (EX-101.CAL) — 153KB
• omcl-20231231_def.xml (EX-101.DEF) — 450KB
• omcl-20231231_lab.xml (EX-101.LAB) — 1165KB
• omcl-20231231_pre.xml (EX-101.PRE) — 788KB
• omcl-20231231_htm.xml (XML) — 1998KB

Business

Business 6 Item 1A.

Risk Factors

Risk Factors 20 Item 1B. Unresolved Staff Comments 42 Item 1C . Cyber s ecurity 42 Item 2.

Properties

Properties 45 Item 3.

Legal Proceedings

Legal Proceedings 45 Item 4. Mine Safety Disclosures 45 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 46 Item 6. [Reserved] 47 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 47 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 61 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 62 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 62 Item 9A.

Controls and Procedures

Controls and Procedures 62 Item 9B. Other Information 63 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 63 PART III Item 10. Directors, Executive Officers and Corporate Governance 64 Item 11.

Executive Compensation

Executive Compensation 64 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 64 Item 13. Certain Relationships, Related Transactions and Director Independence 64 Item 14. Principal Accountant Fees and Services 65 PART IV Item 15. Exhibits and Financial Statement Schedules 66 Item 16. Form 10-K Summary 66 Reports of Independent Registered Public Accounting Firms F- 1 OTHER

Signatures

Signatures S-1 3 Table of Contents

FORWARD-LOOKING STATEMENTS AND FACTORS THAT MAY AFFECT FUTURE RESULTS

FORWARD-LOOKING STATEMENTS AND FACTORS THAT MAY AFFECT FUTURE RESULTS This Annual Report on Form 10-K (or "Annual Report") contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The forward-looking statements are contained throughout this Annual Report including in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." Forward-looking statements include, but are not limited to, statements about: our expectations regarding our future sales pipeline and bookings; the extent and timing of future revenues, including the amounts of our current backlog; the size or growth of our market or market share; our beliefs about drivers of demand for our products, services, and solutions, opportunities in certain market categories, and continued expansion in these market categories, as well as our belief that our technology, services, and solutions within these market categories position us well to address the needs of retail, acute, post-acute, and specialty pharmacy providers; continued investment in the industry vision of the Autonomous Pharmacy, our beliefs about the anticipated benefits of such investments, and our expectations regarding continued growth in current and future subscription and cloud-based offerings as we execute on this vision; our goal of advancing our platform with the development of new products, services, or solutions or the enhancement of existing products, services, or solutions; growth opportunities presented by new products, services, solutions, and markets; our projected target revenues, operating costs, and cash flows; our ability to align our medication management infrastructure development and global workforce headcount with our current business

BUSINESS

ITEM 1. BUSINESS Overview Omnicell, a leader in transforming the pharmacy care delivery model, is committed to solving the critical challenges inherent in medication management and elevating the role of clinicians within healthcare as an essential component of care delivery. Omnicell is focused on helping its customers to define and deliver a cost effective medication management strategy that is designed to equip and empower pharmacists and nurses to focus on patient care rather than administrative tasks, and to drive improved clinical, operational, and financial outcomes across all care settings. We are doing this with an industry-leading medication management infrastructure which includes robotics, smart devices, intelligent software, and expert services. This comprehensive set of solutions provides the critical foundation for customers to realize the industry vision of the Autonomous Pharmacy, a vision defined by pharmacy leaders for improving operational efficiencies and ultimately targeting zero-error medication management. Business Strategy The U.S. spent a tota l of $634 bil lion on prescription drugs in 2022, an increase of 9% compared to 2021, and pr escription drugs impact the vast majority of patients in virtually all settings of care. We believe there are significant challenges facing the practice of pharmacy today including, but not limited to, budget constraints, increased healthcare worker turnover rates, labor shortages, drug shortages, drug diversion, manual and error-prone processes, complex compliance requirements, and limited inventory visibility. Each of these challenges may lead to poor medication management outcomes including, but not limited to, medication errors, adverse drug events, lack of patient adherence, and medication waste. We also recognize that these challenges may impact the timing of contracting for, or implementing, our products, solutions, or services. However, we believe that over time these significant challenges to the p

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View this 10-K filing on SEC EDGAR