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Jun 30, 2024
Omnicell Q2 2024 Earnings Report
Second quarter results exceeded previously issued guidance across all metrics.
Key Takeaways
Omnicell announced strong second quarter results, exceeding their previously issued guidance across all key metrics, including revenue, non-GAAP EBITDA and non-GAAP earnings per share. The company reported total revenues of $277 million and GAAP net income per diluted share of $0.08. They are also raising 2024 non-GAAP EBITDA and non-GAAP earnings per share guidance.
Total revenues were $277 million, a decrease of 7% compared to the second quarter of 2023.
GAAP net income was $4 million, or $0.08 per diluted share, compared to $3 million, or $0.08 per diluted share, for the second quarter of 2023.
Non-GAAP net income was $24 million, or $0.51 per diluted share, compared to $26 million, or $0.57 per diluted share, for the second quarter of 2023.
Cash and cash equivalents totaled $557 million, and total assets were $2.29 billion as of June 30, 2024.
Revenue by Segment
Forward Guidance
Omnicell provided guidance for the third quarter and full year 2024. For the third quarter, they expect total revenues between $275 million and $285 million and non-GAAP earnings per share between $0.34 and $0.44. For the full year, they expect total revenues between $1.070 billion and $1.110 billion and non-GAAP earnings per share between $1.20 and $1.50.
Positive Outlook
- Full year 2024 total revenues to be between $1.070 billion and $1.110 billion.
- Full year 2024 product revenues to be between $610 million and $630 million.
- Full year 2024 service revenues to be between $460 million and $480 million.
- Full year 2024 non-GAAP EBITDA to be between $105 million and $125 million.
- Full year 2024 non-GAAP earnings per share to be between $1.20 and $1.50.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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