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Sep 30, 2023
Omnicell Q3 2023 Earnings Report
Announced third quarter 2023 results, updated fiscal year 2023 guidance, and announced reduction in force.
Key Takeaways
Omnicell reported Q3 2023 revenues of $299 million, a decrease of 14% year-over-year. GAAP net income was $6 million, or $0.12 per diluted share, while non-GAAP net income was $28 million, or $0.62 per diluted share. The company is taking actions to manage costs and align with anticipated top-line performance.
Total GAAP revenues for Q3 2023 were $299 million, down 14% from Q3 2022.
GAAP net income for Q3 2023 was $6 million, or $0.12 per diluted share, compared to $17 million, or $0.37 per diluted share, for Q3 2022.
Non-GAAP net income for Q3 2023 was $28 million, or $0.62 per diluted share, compared to $45 million, or $1.00 per diluted share, for Q3 2022.
Cash and cash equivalents as of September 30, 2023, were $447 million.
Forward Guidance
For Q4 2023, Omnicell expects total revenues between $247 million and $267 million, product revenues between $142 million and $152 million, service revenues between $105 million and $115 million, non-GAAP EBITDA between $9 million and $19 million, and non-GAAP earnings per share between $0.07 and $0.22.
Positive Outlook
- Product revenues are expected to be between $142 million and $152 million.
- Service revenues are expected to be between $105 million and $115 million.
Challenges Ahead
- Total revenues are expected to be between $247 million and $267 million.
- Non-GAAP EBITDA is expected to be between $9 million and $19 million.
- Non-GAAP earnings per share are expected to be between $0.07 and $0.22.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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