Omnicell, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Omnicell, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

OMNICELL, INC. (OMCL) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Omnicell, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of the fiscal year 2024. The company's fiscal year ends on December 31st. Omnicell, Inc. is incorporated in Delaware. The company's business address is in Fort Worth, Texas.

Why It Matters

For investors and stakeholders tracking OMNICELL, INC., this filing contains several important signals. This filing provides investors with the latest financial performance and operational updates for Omnicell, Inc. for the first quarter of 2024. As a public company, Omnicell, Inc. is required to submit these reports to the SEC, ensuring transparency for shareholders and the market.

Risk Assessment

Risk Level: low — OMNICELL, INC. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report for public companies and does not contain any immediate red flags or significant new risks.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Omnicell's Q1 2024 performance and outlook.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q filing)
• 2024-05-07 — Filing Date (10-Q filing)
• 2024-01-01 — Quarter Start Date (Q1 2024)
• 1231 — Fiscal Year End (Company fiscal year)

Key Players & Entities

• OMNICELL, INC. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-07 (date) — Filed as of date
• DE (jurisdiction) — State of incorporation
• Fort Worth (location) — Business address city
• TX (location) — Business address state
• 76137 (postal_code) — Business address zip
• 1934 Act (regulation) — SEC Act

FAQ

Industry Context

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

Regulatory Implications

As a publicly traded company, Omnicell, Inc. is subject to the reporting requirements of the Securities Exchange Act of 1934, including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Analyze Omnicell's revenue streams for Q1 2024, looking for growth or decline in product and service segments.
2. Review any disclosed changes in the company's balance sheet and cash flow statement for Q1 2024.
3. Examine the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers and future outlook.

Year-Over-Year Comparison

This is the initial filing for the first quarter of 2024, so direct comparison to a prior period's 10-Q within this specific document is not applicable, but data points for prior periods are available in the filing.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value OMCL NASDAQ Global Select Mar

Filing Documents

• omcl-20240331.htm (10-Q) — 1137KB
• exhibit101omnicellexecutiv.htm (EX-10.1) — 18KB
• exhibit311q1-24.htm (EX-31.1) — 10KB
• exhibit312q1-24.htm (EX-31.2) — 10KB
• exhibit321q1-24.htm (EX-32.1) — 7KB
• 0000926326-24-000015.txt (&nbsp;) — 7801KB
• omcl-20240331.xsd (EX-101.SCH) — 60KB
• omcl-20240331_cal.xml (EX-101.CAL) — 96KB
• omcl-20240331_def.xml (EX-101.DEF) — 295KB
• omcl-20240331_lab.xml (EX-101.LAB) — 726KB
• omcl-20240331_pre.xml (EX-101.PRE) — 556KB
• omcl-20240331_htm.xml (XML) — 1074KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 38 PART II OTHER INFORMATION 39 Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Defaults Upon Senior Securities 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 39 Item 6. Exhibits 40 Signature 41 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) OMNICELL, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) March 31, 2024 December 31, 2023 (In thousands, except par value) ASSETS Current assets: Cash and cash equivalents $ 512,364 $ 467,972 Accounts receivable and unbilled receivables, net of allowances of $ 6,463 and $ 5,564 , respectively 248,512 252,025 Inventories 103,466 110,099 Prepaid expenses 26,585 25,966 Other current assets 98,991 71,509 Total current assets 989,918 927,571 Property and equipment, net 109,034 108,601 Long-term investment in sales-type leases, net 43,909 42,954 Operating lease right-of-use assets 26,531 24,988 Goodwill 735,357 735,810 Intangible assets, net 205,115 211,173 Long-term deferred tax assets 37,383 32,901 Prepaid commissions 50,191 52,414 Other long-term assets 86,317 90,466 Total assets $ 2,283,755 $ 2,226,878 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 43,145 $ 45,028 Accrued compensation 41,446 51,754 Accrued liabilities 167,187 149,276 Deferred revenues 164,586 121,734 Total current liabilities 416,364 367,792 Long-term deferred revenues 65,195 58,622 Long-term deferred tax liabilities 1,493 1,620 Long-term operating lease liabilities 34,568 33,910 Other long-term liabilities 7,099 6,318 Convertible senior notes, net 570,439 569,662 Total liabilities 1,095,158 1,037,924 Commitments and contingencies (Note 13) Stockholders' equity: Preferred stock, $ 0.001 par value, 5,000 shares authorized; no shares issued — — Common stock, $ 0.001 par value, 100,000 shares authorized; 56,207 and 55,822 shares issued; 45,924 and 45,539 shares outstanding, respectively 56 56 Treasury stock at cost, 10,283 shares outstanding, respectively ( 290,319 ) ( 290,319 ) Additional paid-in capital 1,139,010 1,122,292 Retained earnings 354,681 370,357 Accumulated other comprehensive loss ( 14,831 ) ( 13,432 ) Total stockholders' equity 1,188,59

Business

Business Omnicell, Inc. was incorporated in California in 1992 under the name Omnicell Technologies, Inc. and reincorporated in Delaware in 2001 as Omnicell, Inc. The Company's major products and related services are medication management solutions and adherence tools for healthcare systems and pharmacies, which are sold in its principal market, the healthcare industry. The Company's market is primarily located in the United States and Europe. "Omnicell" or the "Company" refer to Omnicell, Inc. and its subsidiaries, collectively. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements reflect, in the opinion of management, all adjustments, consisting of normal recurring adjustments and accruals, necessary to present fairly the financial position of the Company as of March 31, 2024 and December 31, 2023, and the results of operations, comprehensive loss, and cash flows for the three months ended March 31, 2024 and 2023. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. Generally Accepted Accounting Principles ("GAAP") have been condensed or omitted in accordance with the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and accompanying Notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 28, 2024. The Company's results of operations, comprehensive loss, and cash flows for the three months ended March 31, 2024 are not necessarily indicative of results that may be expected for the year ending December 31, 2024, or for any future period. Principles of Consolidation The Condensed Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transact

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View this 10-Q filing on SEC EDGAR