Omnicell, Inc. Files Q2 2024 10-Q Report

TL;DR

OMCL Q2 10-Q filed. Financials for period ending June 30, 2024, are now public.

AI Summary

Omnicell, Inc. filed its 10-Q for the period ending June 30, 2024, reporting on its financial performance. The company's fiscal year ends on December 31, and this filing covers the second quarter. Specific financial figures and segment details are provided within the document.

Why It Matters

This filing provides investors and analysts with a detailed look at Omnicell's financial health and operational performance for the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: medium — As a public company filing a quarterly report, Omnicell faces standard market and operational risks inherent in the technology and healthcare sectors.

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 20240806 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• OMNICELL, INC. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240806 (date) — Filing date of the report
• 4220 NORTH FREEWAY, FORT WORTH, TX 76137 (location) — Company's business and mailing address

FAQ

Key Financial Figures

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

Filing Documents

• omcl-20240630.htm (10-Q) — 1351KB
• exhibit311q2-24.htm (EX-31.1) — 10KB
• exhibit312q2-24.htm (EX-31.2) — 10KB
• exhibit321q2-24.htm (EX-32.1) — 7KB
• 0000926326-24-000027.txt ( ) — 8411KB
• omcl-20240630.xsd (EX-101.SCH) — 59KB
• omcl-20240630_cal.xml (EX-101.CAL) — 97KB
• omcl-20240630_def.xml (EX-101.DEF) — 288KB
• omcl-20240630_lab.xml (EX-101.LAB) — 737KB
• omcl-20240630_pre.xml (EX-101.PRE) — 557KB
• omcl-20240630_htm.xml (XML) — 1241KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 39 Item 4.

Controls and Procedures

Controls and Procedures 40 PART II OTHER INFORMATION 41 Item 1.

Legal Proceedings

Legal Proceedings 41 Item 1A.

Risk Factors

Risk Factors 41 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3. Defaults Upon Senior Securities 41 Item 4. Mine Safety Disclosures 41 Item 5. Other Information 41 Item 6. Exhibits 42 Signature 43 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) June 30, 2024 December 31, 2023 (In thousands, except par value) ASSETS Current assets: Cash and cash equivalents $ 556,781 $ 467,972 Accounts receivable and unbilled receivables, net of allowances of $ 6,474 and $ 5,564 , respectively 241,127 252,025 Inventories 93,262 110,099 Prepaid expenses 22,216 25,966 Other current assets 82,282 71,509 Total current assets 995,668 927,571 Property and equipment, net 110,982 108,601 Long-term investment in sales-type leases, net 50,302 42,954 Operating lease right-of-use assets 26,438 24,988 Goodwill 735,351 735,810 Intangible assets, net 199,425 211,173 Long-term deferred tax assets 40,555 32,901 Prepaid commissions 49,882 52,414 Other long-term assets 83,054 90,466 Total assets $ 2,291,657 $ 2,226,878 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 49,747 $ 45,028 Accrued compensation 48,940 51,754 Accrued liabilities 158,119 149,276 Deferred revenues 150,316 121,734 Total current liabilities 407,122 367,792 Long-term deferred revenues 67,931 58,622 Long-term deferred tax liabilities 1,326 1,620 Long-term operating lease liabilities 33,739 33,910 Other long-term liabilities 7,514 6,318 Convertible senior notes, net 571,217 569,662 Total liabilities 1,088,849 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; 56,277 and 55,822 shares issued; 45,994 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 1,149,533 1,122,292 Retained earnings 358,416 370,357 Accumulated other comprehensive loss ( 14,878 ) ( 13,432 ) Total stockholders' equity 1,202,808

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 June 30, 2024 and December 31, 2023, the results of operations and comprehensive income (loss) for the three and six months ended June 30, 2024 and 2023, and cash flows for the six months ended June 30, 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 and comprehensive income (loss) for the three and six months ended June 30, 2024, and cash flows for the six months ended June 30, 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

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