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Mar 31, 2023
Omnicell Q1 2023 Earnings Report
Announced first quarter 2023 results, with total GAAP revenues of $291 million and a GAAP net loss per diluted share of $0.33.
Key Takeaways
Omnicell's first quarter 2023 saw a decrease in GAAP revenues to $291 million, a net loss of $15 million, or $0.33 per diluted share, but non-GAAP net income was $17 million, or $0.39 per diluted share. The company's full year 2023 guidance is unchanged.
Total GAAP revenues for Q1 2023 were $291 million, a 9% decrease from Q1 2022, reflecting lower point-of-care revenues due to health systems capital budget constraints.
GAAP net loss for Q1 2023 was $15 million, or $0.33 per diluted share, compared to a net income of $8 million, or $0.17 per diluted share, for Q1 2022.
Non-GAAP net income for Q1 2023 was $17 million, or $0.39 per diluted share, compared to $38 million, or $0.83 per diluted share, for Q1 2022.
Cash and cash equivalents totaled $340 million as of March 31, 2023.
Revenue by Segment
Forward Guidance
The Company’s full year 2023 guidance is unchanged. For the second quarter of 2023, the Company expects total revenues to be between $278 million and $288 million.
Positive Outlook
- Full year 2023 bookings expected to be between $1.000 billion and $1.100 billion.
- Full year 2023 total revenues expected to be between $1.150 billion and $1.190 billion.
- Full year 2023 product revenues expected to be between $740 million and $760 million.
- Full year 2023 service revenues expected to be between $410 million and $430 million.
- Full year 2023 non-GAAP EBITDA expected to be between $120 million and $135 million.
Challenges Ahead
- Second quarter 2023 total revenues expected to be between $278 million and $288 million.
- Second quarter 2023 product revenues expected to be between $181 million and $186 million.
- Second quarter 2023 service revenues expected to be between $97 million and $102 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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