Omnicell, Inc. Files Q3 2024 10-Q Report

TL;DR

OMCL Q3 24 10-Q filed. Financials out.

AI Summary

Omnicell, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the third quarter and the first nine months of the year. Key financial data and operational details are provided in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Omnicell, Inc., crucial for understanding the company's trajectory and making informed investment decisions.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the inherent risks of the technology and healthcare sectors can impact Omnicell's performance.

Key Numbers

• 2024-09-30 — Period End Date (The report covers financial data up to this date.)
• 2023-12-31 — Previous Year End Date (Provides a comparison point for year-over-year performance.)
• 2024-01-01 — Year-to-Date Start Date (Marks the beginning of the current fiscal year for reporting.)

Key Players & Entities

• OMNICELL, INC. (company) — Filer
• 20240930 (date) — Period of Report
• 20241108 (date) — Filing Date
• FORT WORTH (location) — Business Address City
• DE (location) — State of Incorporation

FAQ

Key Financial Figures

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

Filing Documents

• omcl-20240930.htm (10-Q) — 1412KB
• exhibit101q3-24.htm (EX-10.1) — 26KB
• exhibit311q3-24.htm (EX-31.1) — 10KB
• exhibit312q3-24.htm (EX-31.2) — 10KB
• exhibit321q3-24.htm (EX-32.1) — 7KB
• 0000926326-24-000032.txt ( ) — 8555KB
• omcl-20240930.xsd (EX-101.SCH) — 59KB
• omcl-20240930_cal.xml (EX-101.CAL) — 97KB
• omcl-20240930_def.xml (EX-101.DEF) — 288KB
• omcl-20240930_lab.xml (EX-101.LAB) — 740KB
• omcl-20240930_pre.xml (EX-101.PRE) — 558KB
• omcl-20240930_htm.xml (XML) — 1259KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 40 Item 4.

Controls and Procedures

Controls and Procedures 41 PART II OTHER INFORMATION 42 Item 1.

Legal Proceedings

Legal Proceedings 42 Item 1A.

Risk Factors

Risk Factors 42 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42 Item 3. Defaults Upon Senior Securities 42 Item 4. Mine Safety Disclosures 42 Item 5. Other Information 42 Item 6. Exhibits 43 Signature 44 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) September 30, 2024 December 31, 2023 (In thousands, except par value) ASSETS Current assets: Cash and cash equivalents $ 570,628 $ 467,972 Accounts receivable and unbilled receivables, net of allowances of $ 7,103 and $ 5,564 , respectively 251,764 252,025 Inventories 95,059 110,099 Prepaid expenses 28,884 25,966 Other current assets 64,927 71,509 Total current assets 1,011,262 927,571 Property and equipment, net 111,744 108,601 Long-term investment in sales-type leases, net 50,575 42,954 Operating lease right-of-use assets 25,312 24,988 Goodwill 737,169 735,810 Intangible assets, net 193,969 211,173 Long-term deferred tax assets 42,093 32,901 Prepaid commissions 49,730 52,414 Other long-term assets 81,734 90,466 Total assets $ 2,303,588 $ 2,226,878 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 47,810 $ 45,028 Accrued compensation 45,090 51,754 Accrued liabilities 144,253 149,276 Deferred revenues 152,367 121,734 Convertible senior notes, net 571,997 — Total current liabilities 961,517 367,792 Long-term deferred revenues 69,811 58,622 Long-term deferred tax liabilities 1,411 1,620 Long-term operating lease liabilities 31,524 33,910 Other long-term liabilities 7,997 6,318 Convertible senior notes, net — 569,662 Total liabilities 1,072,260 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; 56,596 and 55,822 shares issued; 46,313 and 45,539 shares outstanding, respectively 57 56 Treasury stock at cost, 10,283 shares outstanding, respectively ( 290,319 ) ( 290,319 ) Additional paid-in capital 1,164,847 1,122,292 Retained earnings 367,046 370,357 Accumulated other comprehensive loss ( 10,303 ) ( 13,432

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

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