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Omnicell, Inc.

$OMCL
$56.02
Капитализция: $1.4B
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Ведущий поставщик решений для автоматизации дозирования лекарств, центральной автоматизации аптек, аналитического программного обеспечения и решений, способствующих соблюдению режима терапии пациентами. Ассортимент продукции помогает медицинским работникам повысить безопасность пациентов и эффективность, показать больше
снизить затраты, укрепить соответствие нормативным требованиям и решить проблемы со здоровьем населения. Компания разрабатывает концепцию полностью автоматизированной аптечной инфраструктуры, которая поддерживает улучшенное обслуживание пациентов, гарантирует меньшее количество ошибок, повышенную безопасность и новые возможности для роста. В рамках концепции автономной аптеки компания стремится к лидерству в области трансформации процессов управления лекарственной терапией.
Omnicell, Inc., together with its subsidiaries, provides medication management automation solutions and adherence tools for healthcare systems and pharmacies the United States and internationally. The company offers central pharmacy automation solutions, including automated storage and retrieval systems, such as XR2 Automated Central Pharmacy System, a building block of autonomous pharmacy vision IV compounding robots and workflow management systems inventory management software and controlled substance management systems. It also provides point of care automation solutions to improve clinician workflows in patient care areas of the healthcare system XT Series automated dispensing systems for medications and supplies used in nursing units and other clinical areas of the hospital, as well as specialized automated dispensing systems for operating room Omnicell Interface Software that offers interface and integration between its medication-use products or supply products, and a healthcare facility's in-house information management systems and robotic dispensing systems for handling the stocking and retrieval of boxed medications. In addition, the company provides automated systems to help pharmacies in filling its multimed adherence packaging based on individual patient medication orders single dose automation solutions to fill and label for incoming prescriptions semi-automated filling equipment for the long-term care institutional pharmacy and medication blister card packaging and packaging supplies to enhance medication adherence in non-acute care settings. Further, it offers EnlivenHealth Patient Engagement, a web-based nexus of solutions. The company was formerly known as Omnicell Technologies, Inc. and changed its name to Omnicell, Inc. in 2001. Omnicell, Inc. was incorporated in 1992 and is headquartered in Mountain View, California.
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03.11.2021, 23:08 EPS за 3 квартал составил ХХ, консенсус YY

04.08.2021, 23:12 Прибыль на акцию за 2 квартал XX, консенсус-прогноз YY
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Omnicell Announces Financial Results for First Quarter 2022

Omnicell объявляет финансовые результаты за первый квартал 2022 г.

28 апр. 2022 г.

GAAP and non-GAAP revenues of $319 million

GAAP net income per diluted share of $0.17

Non-GAAP net income per diluted share of $0.83

Launched innovative IVX Station robotic compounding technology

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Omnicell, Inc. (NASDAQ:OMCL) (“Omnicell,” “we,” “our,” “us,” “management,” or the “Company”), a leading provider of medication management solutions and adherence tools for healthcare systems and pharmacies, today announced results for its first quarter ended March 31, 2022.

“We are pleased with our strong start to 2022, as we continued our momentum from the past year and further advanced our strategy to transform the pharmacy care delivery model through automation and tech-enabled services,” stated Randall Lipps, Chairman, President, Chief Executive Officer, and founder of Omnicell. “Labor constraints within healthcare underscore the pressing need to automate and modernize medication management processes. We continue to see robust demand within key areas of our Advanced Services portfolio, which we find reflect our customers’ recognition of the need to improve access to, and management of, complex medications. In addition, we were pleased to announce the launch of IVX Station, an innovative solution designed to leverage IV robotic technology to make pharmacy care smarter and safer for everyone. I am proud of our team’s consistent execution in this dynamic environment. Looking ahead, we believe we are well positioned to provide essential next-generation medication management products and solutions to enable our customers to improve patient outcomes and deliver pharmacy care safely and efficiently.”

Total GAAP revenues for the first quarter of 2022 were $319 million, up $67 million, or 27%, from the first quarter of 2021. The increase in GAAP revenues reflects strong demand for Omnicell’s medication management adherence automation solutions, as well as the contribution of revenues from recent acquisitions.

GAAP net income for the first quarter of 2022 was $8 million, or $0.17 per diluted share. This compares to GAAP net income of $14 million, or $0.30 per diluted share, for the first quarter of 2021.

Non-GAAP Results

Total non-GAAP revenues for the first quarter of 2022 were $319 million, up $67 million, or 27%, from the first quarter of 2021. The increase in non-GAAP revenues reflects strong demand for Omnicell’s medication management adherence automation solutions, as well as the contribution of revenues from recent acquisitions.

Non-GAAP net income for the first quarter of 2022 was $38 million, or $0.83 per diluted share. This compares to non-GAAP net income of $37 million, or $0.83 per diluted share, for the first quarter of 2021.

Non-GAAP EBITDA for the first quarter of 2022 was $50 million. This compares to non-GAAP EBITDA of $51 million for the first quarter of 2021.

Balance Sheet and Stock Repurchases

As of March 31, 2022, Omnicell’s balance sheet reflected cash and cash equivalents of $265 million, total debt of $564 million, and total assets of $2.12 billion. During the first quarter of 2022, capital expenditures totaled $11 million, excluding acquisitions and software development for external use. Cash flows used in operating activities in the first quarter of 2022 totaled $16 million. This compares to cash flows provided by operating activities totaling $57 million in the first quarter of 2021.

During the first quarter of 2022, the Company repurchased 389,300 shares of its common stock at a cost of $52 million. The Company had approximately $3 million remaining under its repurchase program as of March 31, 2022. As of March 31, 2022, the Company had $500 million of availability under its revolving credit facility.

Business Highlights

  • IVX Station: Omnicell launched the IVX Station, an innovative solution designed to scale the benefits of IV robotic technology and make it accessible to the mainstream market. This introduction of new technology and enhancements to existing solutions is expected to add value for customers. The new solutions and capabilities are intended to automate workflows, optimize operations and help improve patient care in a complex regulatory environment.
  • EnlivenHealth: EnlivenHealth® continued to advance its mission of building and orchestrating one of the most innovative SaaS technology solutions designed to enable retail pharmacies of all sizes and types to grow and thrive in this new era of digital-driven healthcare. Omnicell continues to advance the integration of FDS Amplicare® and MarkeTouch Media and is already seeing good progress in cross-selling solutions between the acquired companies and EnlivenHealth’s customer base.
  • 2021 Corporate Responsibility Report: Earlier this month, Omnicell published its 2021 Corporate Responsibility Report highlighting the progress the Company has achieved in its Environmental, Social, Governance and Innovation initiatives and demonstrating Omnicell’s commitment to developing meaningful goals and taking purposeful action. Corporate responsibility remains a long-term focus for Omnicell.

For the full year 2022, the Company expects product bookings to be between $1.370 billion and $1.430 billion. The Company expects full year 2022 total GAAP and non-GAAP revenues to be between $1.385 billion and $1.410 billion. The Company expects full year 2022 GAAP and non-GAAP product revenues to be between $975 million and $990 million, and full year 2022 GAAP and non-GAAP service revenues to be between $410 million and $420 million. The Company expects full year 2022 non-GAAP EBITDA to be between $243 million and $255 million. The Company expects full year 2022 non-GAAP earnings to be between $3.85 and $4.05 per share.

For the second quarter of 2022, the Company expects total GAAP and non-GAAP revenues to be between $337 million and $343 million. The Company expects second quarter 2022 GAAP and non-GAAP product revenues to be between $241 million and $244 million, and second quarter 2022 GAAP and non-GAAP service revenues to be between $96 million and $99 million. The Company expects second quarter 2022 non-GAAP EBITDA to be between $54 million and $58 million. The Company expects second quarter 2022 non-GAAP earnings to be between $0.82 and $0.89 per share.

Our second quarter and full year 2022 guidance includes the anticipated contributions and integration costs of recent acquisitions, as well as the anticipated effects of the current inflationary environment.

The table below summarizes Omnicell’s 2022 guidance outlined above.

 

Q2 2022

FY 2022

Product Bookings

Not provided

$1.370 billion - $1.430 billion

Total GAAP and Non-GAAP Revenues

$337 million - $343 million

$1.385 billion - $1.410 billion

GAAP and Non-GAAP Product Revenues

$241 million - $244 million

$975 million - $990 million

GAAP and Non-GAAP Service Revenues

$96 million - $99 million

$410 million - $420 million

Non-GAAP EBITDA

$54 million - $58 million

$243 million - $255 million

Non-GAAP Earnings Per Share

$0.82 - $0.89

$3.85 - $4.05

The Company does not provide guidance for GAAP net income or GAAP earnings per share, nor a reconciliation of these forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measures on a forward-looking basis because it is unable to predict certain items contained in the GAAP measures without unreasonable efforts. These forward-looking non-GAAP financial measures do not include certain items, which may be significant, including, but not limited to, unusual gains and losses, costs associated with future restructurings, acquisition-related expenses, and certain tax and litigation outcomes.

Omnicell Conference Call Information

Omnicell will hold a conference call today, Thursday, April 28, 2022 at 1:30 p.m. PT to discuss its first quarter 2022 financial results. The conference call can be accessed by dialing 1-888-550-5424 within the U.S. or 1-646-960-0819 for all other locations. The Conference ID # is 5370673. A link to the live and archived webcast will also be available on the Investor Relations section of Omnicell’s website at http://ir.omnicell.com/events-and-presentations/.

Since 1992, Omnicell has been committed to transforming the pharmacy care delivery model to dramatically improve outcomes and lower costs. Through the industry vision of the Autonomous Pharmacy, a combination of automation, intelligence, and technology-enabled services, powered by a cloud data platform, Omnicell supports more efficient ways to manage medications across all care settings.

Facilities worldwide use our automation and analytics solutions to increase operational efficiency, reduce medication errors, deliver actionable intelligence, and improve patient safety. Institutional and retail pharmacies across North America, the United Kingdom, Germany, and Australia leverage our innovative medication adherence and population health solutions to improve patient engagement and adherence to prescriptions, helping to reduce costly hospital readmissions.

To learn more, visit www.omnicell.com. From time to time, Omnicell may use the Company’s investor relations website and other online social media channels, including its Twitter handle www.twitter.com/omnicell, LinkedIn page www.linkedin.com/company/omnicell, and Facebook page www.facebook.com/omnicellinc, to disclose material non-public information and comply with its disclosure obligations under Regulation Fair Disclosure (“Reg FD”).

OMNICELL, the Omnicell logo, AMPLICARE, and ENLIVENHEALTH are registered trademarks of Omnicell, Inc. or one of its subsidiaries.

Forward-Looking Statements

To the extent any statements contained in this press release deal with information that is not historical, these statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, statements including the words “expect,” “intend,” “may,” “will,” “should,” “would,” “could,” “plan,” “potential,” “anticipate,” “believe,” “forecast,” “guidance,” “outlook,” “goals,” “target,” “estimate,” “seek,” “predict,” “project,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are subject to the occurrence of many events outside Omnicell’s control. Such statements include, but are not limited to, Omnicell’s projected bookings, GAAP and non-GAAP revenues, including GAAP and non-GAAP product and service revenues, respectively, non-GAAP EBITDA, and non-GAAP earnings per share; planned new products and services and the related expected benefits; and statements about Omnicell’s strategy, plans, objectives, goals, and vision. Actual results and other events may differ significantly from those contemplated by forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. These risks and uncertainties include, among other things, (i) risks related to the ongoing COVID-19 pandemic (including new variants of the virus), (ii) Omnicell’s ability to take advantage of growth opportunities and develop and commercialize new solutions and enhance existing solutions, (iii) continued and increased competition from current and future competitors in the medication management automation solutions market and the medication adherence solutions market, (iv) unfavorable general economic and market conditions or reduction in demand for our solutions, (v) changes to the 340B Program, (vi) Omnicell’s substantial debt, which could impair its financial flexibility and access to capital, (vii) risks related to Omnicell’s investments in new business strategies or initiatives, including its transition to selling more products and services on a subscription basis, and its ability to acquire companies, businesses, or technologies and successfully integrate such acquisitions, (viii) risks presented by government regulations, legislative changes, fraud and anti-kickback statues, products liability claims, the outcome of legal proceedings, and other legal obligations related to healthcare, privacy, data protection, and information security, (ix) any disruption in Omnicell’s information technology systems and breaches of data security or cyber-attacks on its systems or solutions, (x) risks associated with operating in foreign countries, (xi) Omnicell’s ability to recruit and retain skilled and motivated personnel, (xii) Omnicell’s ability to protect its intellectual property, (xiii) Omnicell’s ability to meet the demands of, or maintain relationships with, its institutional, retail, and specialty pharmacy customers, (xiv) risks related to the availability and sources of raw materials and components or price fluctuations, shortages, or interruptions of supply, (xv) Omnicell’s dependence on a limited number of suppliers for certain components, equipment, and raw materials, as well as technologies provided by third-party vendors, and (xvi) other risks and uncertainties further described in the “Risk Factors” section of Omnicell’s most recent Annual Report on Form 10-K, as well as in Omnicell’s other reports filed with or furnished to the United States Securities and Exchange Commission (“SEC”), available at www.sec.gov. Forward-looking statements should be considered in light of these risks and uncertainties. Investors and others are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements contained in this press release speak only as of the date of this press release. Omnicell assumes no obligation to update any such statements publicly, or to update the reasons actual results could differ materially from those expressed or implied in any forward-looking statements, whether as a result of changed circumstances, new information, future events, or otherwise, except as required by law.

Use of Non-GAAP Financial Information

This press release contains financial measures that are not calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). Management evaluates and makes operating decisions using various performance measures. In addition to Omnicell’s GAAP results, we also consider non-GAAP revenues, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, non-GAAP net income per diluted share, non-GAAP diluted shares, non-GAAP EBITDA, non-GAAP EBITDA margin, and non-GAAP free cash flow. These non-GAAP results and metrics should not be considered as an alternative to revenues, gross profit, operating expenses, income from operations, net income, net income per diluted share, diluted shares, net cash provided by operating activities, or any other performance measure derived in accordance with GAAP. We present these non-GAAP results and metrics because management considers them to be important supplemental measures of Omnicell’s performance and refers to such measures when analyzing Omnicell’s strategy and operations.

Our non-GAAP revenues, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, non-GAAP net income per diluted share, non-GAAP EBITDA, and non-GAAP EBITDA margin are exclusive of certain items to facilitate management’s review of the comparability of Omnicell’s core operating results on a period-to-period basis because such items are not related to Omnicell’s ongoing core operating results as viewed by management. We define our “core operating results” as those revenues recorded in a particular period and the expenses incurred within such period that directly drive operating income in such period. Management uses these non-GAAP financial measures in making operating decisions because, in addition to meaningful supplemental information regarding operating performance, the measures give us a better understanding of how we believe we should invest in research and development, fund infrastructure growth, and evaluate the effectiveness of marketing strategies. In calculating the above non-GAAP results: non-GAAP revenues excludes from its GAAP equivalent item a) below; non-GAAP gross profit and non-GAAP gross margin exclude from their GAAP equivalents items a), b), c), and f) below; non-GAAP operating expenses excludes from its GAAP equivalents items b), c), d), e), f), and i) below; non-GAAP income from operations and non-GAAP operating margin exclude from their GAAP equivalents items a), b), c), d), e), f), and i) below; and non-GAAP net income and non-GAAP net income per diluted share exclude from their GAAP equivalents items a) through i) below. Non-GAAP EBITDA is defined as earnings before interest income and expense, taxes, depreciation, amortization, and share-based compensation, as well as excluding certain other non-GAAP adjustments. Non-GAAP EBITDA and non-GAAP EBITDA margin exclude from their GAAP equivalents items a), b), d), e), f), g), h) and i) below:

a)

Acquisition accounting impact related to deferred revenues. In connection with the recent acquisition of FDS Amplicare, we recorded a fair value adjustment to acquired deferred revenues as part of the purchase accounting in accordance with GAAP. The adjustment represents revenues that would have been recognized in the normal course of business by FDS Amplicare if the acquisition had not occurred, but was not recognized due to GAAP purchase accounting requirements. The non-GAAP adjustment to our revenues is intended to include the full amounts of such revenues. We believe the adjustment to these revenues is useful as a measure of the ongoing performance of our business.

b)

Share-based compensation expense. We excluded from our non-GAAP results the expense related to equity-based compensation plans as it represents expenses that do not require cash settlement from Omnicell.

c)

Amortization of acquired intangible assets. We excluded from our non-GAAP results the intangible assets amortization expense resulting from our past acquisitions. These non-cash charges are not considered by management to reflect the core cash-generating performance of the business and therefore are excluded from our non-GAAP results.

d)

Acquisition-related expenses. We excluded from our non-GAAP results the expenses related to recent acquisitions, including amortization of representations and warranties insurance. These expenses are unrelated to our ongoing operations, vary in size and frequency, and are subject to significant fluctuations from period to period due to varying levels of acquisition activity. We believe that excluding these expenses provides more meaningful comparisons of the financial results to our historical operations and forward-looking guidance, and to the financial results of less acquisitive peer companies.

e)

Impairment of operating lease right-of-use assets. We excluded from our non-GAAP results the impairment of operating lease right-of-use assets incurred in connection with restructuring activities for optimization of certain leased facilities. These non-cash charges are not considered by management to reflect the core cash-generating performance of the business and therefore are excluded from our non-GAAP results.

f)

Severance-related expenses. We excluded from our non-GAAP results the expenses related to restructuring events. These expenses are unrelated to our ongoing operations, vary in size and frequency, and are subject to significant fluctuations from period to period due to varying levels of restructuring activity. We believe that excluding these expenses provides more meaningful comparisons of the financial results to our historical operations and forward-looking guidance, and to the financial results of peer companies.

g)

Amortization of debt issuance costs. Debt issuance costs represent costs associated with the issuance of term loan and revolving credit facilities, as well as the issuance of convertible senior notes. The costs include underwriting fees, original issue discount, ticking fees, and legal fees. These non-cash expenses are not considered by management to reflect the core cash-generating performance of the business and therefore are excluded from our non-GAAP results.

h)

Amortization of discount on convertible senior notes. We excluded from our non-GAAP results the amortization of the imputed discount on our convertible senior notes. Under GAAP (prior to the adoption of Accounting Standards Update 2020-06, effective January 1, 2022), certain convertible debt instruments that may be settled in cash upon conversion were required to be bifurcated into separate liability and equity components in a manner that reflects the issuer’s assumed non-convertible debt borrowing rate. For GAAP purposes, we were required to recognize the imputed interest expense on the difference between our assumed non-convertible debt borrowing rate and the coupon rate on our convertible senior notes. This non-cash expense is not considered by management to reflect the core cash-generating performance of the business and therefore is excluded from our non-GAAP results.

i)

Certain litigation costs. We excluded non-recurring charges and benefits, including litigation expenses and settlements, related to litigation matters that are outside of the ordinary course of our business or that are not representative of those that we historically have incurred. These expenses are unrelated to our ongoing operations and we do not expect them to occur in the ordinary course of business. We believe that excluding these expenses provides more meaningful comparisons of the financial results to our historical operations and forward-looking guidance, and to the financial results of peer companies.

Management adjusts for the above items because management believes that, in general, these items possess one or more of the following characteristics: their magnitude and timing is largely outside of Omnicell’s control; they are unrelated to the ongoing operation of the business in the ordinary course; they are unusual and we do not expect them to occur in the ordinary course of business; or they are non-operational or non-cash expenses involving stock compensation plans or other items.

We believe that the presentation of non-GAAP revenues, non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, non-GAAP net income per diluted share, non-GAAP EBITDA, and non-GAAP EBITDA margin is warranted for several reasons:

a)

Such non-GAAP financial measures provide an additional analytical tool for understanding Omnicell’s financial performance by excluding the impact of items which may obscure trends in the core operating results of the business.

b)

Since we have historically reported non-GAAP results to the investment community, we believe the inclusion of non-GAAP numbers provides consistency and enhances investors’ ability to compare our performance across financial reporting periods.

c)

These non-GAAP financial measures are employed by management in its own evaluation of performance and are utilized in financial and operational decision-making processes, such as budget planning and forecasting.

d)

These non-GAAP financial measures facilitate comparisons to the operating results of other companies in our industry, which also use non-GAAP financial measures to supplement their GAAP results (although these companies may calculate non-GAAP financial measures differently than Omnicell does), thus enhancing the perspective of investors who wish to utilize such comparisons in their analysis of our performance.

Set forth below are additional reasons why share-based compensation expense is excluded from our non-GAAP financial measures:

i)

While share-based compensation calculated in accordance with Accounting Standards Codification (“ASC”) 718 constitutes an ongoing and recurring expense of Omnicell, it is not an expense that requires cash settlement by Omnicell. We therefore exclude these charges for purposes of evaluating core operating results. Thus, our non-GAAP measurements are presented exclusive of share-based compensation expense to assist management and investors in evaluating our core operating results.

ii)

We present ASC 718 share-based payment compensation expense in our reconciliation of non-GAAP financial measures on a pre-tax basis because the exact tax differences related to the timing and deductibility of share-based compensation under ASC 718 are dependent upon the trading price of Omnicell’s common stock and the timing and exercise by employees of their stock options. As a result of these timing and market uncertainties, the tax effect related to share-based compensation expense would be inconsistent in amount and frequency and is therefore excluded from our non-GAAP results.

Non-GAAP diluted shares is defined as our GAAP diluted shares, excluding the impact of dilutive convertible senior notes for which the Company is economically hedged through its anti-dilutive convertible note hedge transaction. We believe non-GAAP diluted shares is a useful non-GAAP metric because it provides insight into the offsetting economic effect of the hedge transaction against potential conversion of the convertible senior notes.

Non-GAAP free cash flow is defined as net cash provided by operating activities less cash used for software development for external use and purchases of property and equipment. We believe free cash flow is important to enable investors to better understand and evaluate our ongoing operating results and allows for greater transparency in the review and understanding of our overall financial, operational, and economic performance, because free cash flow takes into account certain capital expenditures and cash used for software development necessary to operate our business.

As stated above, we present non-GAAP financial measures because we consider them to be important supplemental measures of performance. However, non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for Omnicell’s GAAP results. In the future, we expect to incur expenses similar to certain of the non-GAAP adjustments described above and expect to continue reporting non-GAAP financial measures excluding such items. Some of the limitations in relying on non-GAAP financial measures are:

a)

Omnicell’s stock option and stock purchase plans are important components of incentive compensation arrangements and will be reflected as expenses in Omnicell’s GAAP results for the foreseeable future under ASC 718.

b)

Other companies, including companies in Omnicell’s industry, may calculate non-GAAP financial measures differently than Omnicell, limiting their usefulness as a comparative measure.

c)

A limitation of the utility of free cash flow as a measure of financial performance is that it does not represent the total increase or decrease in Omnicell’s cash balance for the period.

A detailed reconciliation between Omnicell’s non-GAAP and GAAP financial results is set forth in the financial tables at the end of this press release. Investors are advised to carefully review and consider this information strictly as a supplement to the GAAP results that are contained in this press release as well as in Omnicell’s other reports filed with or furnished to the SEC.

Omnicell, Inc.

Condensed Consolidated Statements of Operations

(Unaudited, in thousands, except per share data)

 

 

Three Months Ended March 31,

 

2022

 

2021

 

 

 

 

Revenues:

 

 

 

Product revenues

$

225,875

 

 

$

178,125

 

Services and other revenues

 

92,953

 

 

 

73,718

 

Total revenues

 

318,828

 

 

 

251,843

 

Cost of revenues:

 

 

 

Cost of product revenues

 

118,338

 

 

 

92,627

 

Cost of services and other revenues

 

50,443

 

 

 

36,933

 

Total cost of revenues

 

168,781

 

 

 

129,560

 

Gross profit

 

150,047

 

 

 

122,283

 

Operating expenses:

 

 

 

Research and development

 

25,030

 

 

 

16,080

 

Selling, general, and administrative

 

119,933

 

 

 

86,593

 

Total operating expenses

 

144,963

 

 

 

102,673

 

Income from operations

 

5,084

 

 

 

19,610

 

Interest and other income (expense), net

 

(114

)

 

 

(6,691

)

Income before provision for income taxes

 

4,970

 

 

 

12,919

 

Benefit from income taxes

 

(3,243

)

 

 

(1,208

)

Net income

$

8,213

 

 

$

14,127

 

Net income per share:

 

 

 

Basic

$

0.19

 

 

$

0.33

 

Diluted

$

0.17

 

 

$

0.30

 

Weighted-average shares outstanding:

 

 

 

Basic

 

44,249

 

 

 

42,962

 

Diluted

 

47,918

 

 

 

46,367

 

Omnicell, Inc.

Condensed Consolidated Balance Sheets

(Unaudited, in thousands)

 

 

March 31,
2022

 

December 31,
2021

 

 

 

 

ASSETS

Current assets:

 

 

 

Cash and cash equivalents

$

265,008

 

$

349,051

Accounts receivable and unbilled receivables, net

 

290,469

 

 

240,894

Inventories

 

137,056

 

 

119,924

Prepaid expenses

 

24,228

 

 

22,499

Other current assets

 

58,843

 

 

48,334

Total current assets

 

775,604

 

 

780,702

Property and equipment, net

 

77,062

 

 

71,141

Long-term investment in sales-type leases, net

 

19,051

 

 

18,391

Operating lease right-of-use assets

 

43,204

 

 

48,549

Goodwill

 

740,426

 

 

738,900

Intangible assets, net

 

269,427

 

 

277,616

Long-term deferred tax assets

 

16,054

 

 

15,883

Prepaid commissions

 

59,643

 

 

63,795

Other long-term assets

 

122,117

 

 

127,519

Total assets

$

2,122,588

 

$

2,142,496

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

 

 

 

Accounts payable

$

71,645

 

$

71,513

Accrued compensation

 

47,271

 

 

71,130

Accrued liabilities

 

139,829

 

 

133,167

Deferred revenues, net

 

127,998

 

 

112,196

Convertible senior notes, net

 

564,269

 

 

488,152

Total current liabilities

 

951,012

 

 

876,158

Long-term deferred revenues

 

24,037

 

 

20,194

Long-term deferred tax liabilities

 

28,173

 

 

51,705

Long-term operating lease liabilities

 

37,273

 

 

39,911

Other long-term liabilities

 

7,352

 

 

7,839

Total liabilities

 

1,047,847

 

 

995,807

Total stockholders’ equity

 

1,074,741

 

 

1,146,689

Total liabilities and stockholders’ equity

$

2,122,588

 

$

2,142,496

Omnicell, Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited, in thousands)

 

 

Three Months Ended March 31,

 

2022

 

2021

 

 

 

 

Operating Activities

 

 

 

Net income

$

8,213

 

 

$

14,127

 

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

 

 

 

Depreciation and amortization

 

21,124

 

 

 

17,575

 

Share-based compensation expense

 

16,208

 

 

 

11,772

 

Deferred income taxes

 

(4,858

)

 

 

(862

)

Amortization of operating lease right-of-use assets

 

3,307

 

 

 

2,895

 

Impairment of operating lease right-of-use assets

 

1,753

 

 

 

 

Amortization of debt issuance costs

 

1,038

 

 

 

849

 

Amortization of discount on convertible senior notes

 

 

 

 

4,571

 

Changes in operating assets and liabilities:

 

 

 

Accounts receivable and unbilled receivables

 

(49,994

)

 

 

(15,427

)

Inventories

 

(17,320

)

 

 

(1,035

)

Prepaid expenses

 

(1,712

)

 

 

(1,095

)

Other current assets

 

7,950

 

 

 

3,128

 

Investment in sales-type leases

 

(1,097

)

 

 

925

 

Prepaid commissions

 

4,152

 

 

 

2,710

 

Other long-term assets

 

2,240

 

 

 

2,177

 

Accounts payable

 

312

 

 

 

10,368

 

Accrued compensation

 

(23,859

)

 

 

(17,899

)

Accrued liabilities

 

769

 

 

 

4,661

 

Deferred revenues

 

19,786

 

 

 

21,749

 

Operating lease liabilities

 

(3,521

)

 

 

(3,142

)

Other long-term liabilities

 

(487

)

 

 

(632

)

Net cash provided by (used in) operating activities

 

(15,996

)

 

 

57,415

 

Investing Activities

 

 

 

Software development for external use

 

(3,852

)

 

 

(8,043

)

Purchases of property and equipment

 

(11,489

)

 

 

(5,089

)

Business acquisition, net of cash acquired

 

(3,392

)

 

 

 

Net cash used in investing activities

 

(18,733

)

 

 

(13,132

)

Financing Activities

 

 

 

Proceeds from issuances under stock-based compensation plans

 

18,951

 

 

 

20,826

 

Employees’ taxes paid related to restricted stock units

 

(4,322

)

 

 

(2,596

)

Change in customer funds, net

 

5,462

 

 

 

(2,631

)

Stock repurchases

 

(52,210

)

 

 

 

Net cash provided by (used in) financing activities

 

(32,119

)

 

 

15,599

 

Effect of exchange rate changes on cash and cash equivalents

 

(411

)

 

 

(386

)

Net increase (decrease) in cash, cash equivalents, and restricted cash

 

(67,259

)

 

 

59,496

 

Cash, cash equivalents, and restricted cash at beginning of period

 

355,620

 

 

 

489,920

 

Cash, cash equivalents, and restricted cash at end of period

$

288,361

 

 

$

549,416

 

Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets:

Cash and cash equivalents

$

265,008

 

 

$

548,055

 

Restricted cash included in Other current assets

 

23,353

 

 

 

1,361

 

Cash, cash equivalents, and restricted cash at end of period

$

288,361

 

 

$

549,416

 

Omnicell, Inc.

Reconciliation of GAAP to Non-GAAP

(Unaudited, in thousands, except per share data and percentage)

 

 

Three Months Ended March 31,

 

2022

 

2021

 

 

 

 

Reconciliation of GAAP revenues to non-GAAP revenues:

GAAP revenues

$

318,828

 

 

$

251,843

 

Acquisition accounting impact related to deferred revenues

 

378

 

 

 

 

Non-GAAP revenues

$

319,206

 

 

$

251,843

 

 

 

 

 

Reconciliation of GAAP gross profit to non-GAAP gross profit:

 

GAAP gross profit

$

150,047

 

 

$

122,283

 

GAAP gross margin

 

47.1

%

 

 

48.6

%

Share-based compensation expense

 

2,244

 

 

 

1,937

 

Amortization of acquired intangibles

 

3,314

 

 

 

2,816

 

Acquisition accounting impact related to deferred revenues

 

378

 

 

 

 

Severance-related expenses

 

156

 

 

 

389

 

Non-GAAP gross profit

$

156,139

 

 

$

127,425

 

Non-GAAP gross margin

 

48.9

%

 

 

50.6

%

 

 

 

 

Reconciliation of GAAP operating expenses to non-GAAP operating expenses:

GAAP operating expenses

$

144,963

 

 

$

102,673

 

GAAP operating expenses % to total revenues

 

45.5

%

 

 

40.8

%

Share-based compensation expense

 

(13,964

)

 

 

(9,835

)

Amortization of acquired intangibles

 

(5,739

)

 

 

(3,456

)

Acquisition-related expenses

 

(1,395

)

 

 

 

Impairment of operating lease right-of-use assets

 

(1,753

)

 

 

 

Severance-related and other expenses (a)

 

(3,371

)

 

 

(2,582

)

Non-GAAP operating expenses

$

118,741

 

 

$

86,800

 

Non-GAAP operating expenses as a % of total non-GAAP revenues

 

37.2

%

 

 

34.5

%

 

 

 

 

Reconciliation of GAAP income from operations to non-GAAP income from operations:

GAAP income from operations

$

5,084

 

 

$

19,610

 

GAAP operating income % to total revenues

 

1.6

%

 

 

7.8

%

Share-based compensation expense

 

16,208

 

 

 

11,772

 

Amortization of acquired intangibles

 

9,053

 

 

 

6,272

 

Acquisition accounting impact related to deferred revenues

 

378

 

 

 

 

Acquisition-related expenses

 

1,395

 

 

 

 

Impairment of operating lease right-of-use assets

 

1,753

 

 

 

 

Severance-related and other expenses (a)

 

3,527

 

 

 

2,971

 

Non-GAAP income from operations

$

37,398

 

 

$

40,625

 

Non-GAAP operating margin (non-GAAP operating income as a % of total non-GAAP revenues)

 

11.7

%

 

 

16.1

%

Omnicell, Inc.

Reconciliation of GAAP to Non-GAAP

(Unaudited, in thousands, except per share data and percentage)

 

 

Three Months Ended March 31,

 

2022

 

2021

 

 

 

 

Reconciliation of GAAP net income to non-GAAP net income:

GAAP net income

$

8,213

 

 

$

14,127

 

Share-based compensation expense

 

16,208

 

 

 

11,772

 

Amortization of acquired intangibles

 

9,053

 

 

 

6,272

 

Acquisition accounting impact related to deferred revenues

 

378

 

 

 

 

Acquisition-related expenses

 

1,395

 

 

 

 

Impairment of operating lease right-of-use assets

 

1,753

 

 

 

 

Severance-related and other expenses (a)

 

3,527

 

 

 

2,971

 

Amortization of debt issuance costs

 

1,038

 

 

 

849

 

Amortization of discount on convertible senior notes

 

 

 

 

4,571

 

Tax effect of the adjustments above (b)

 

(3,601

)

 

 

(3,079

)

Non-GAAP net income

$

37,964

 

 

$

37,483

 

 

 

 

 

Reconciliation of GAAP net income per share - diluted to non-GAAP net income per share - diluted:

Shares - diluted GAAP

 

47,918

 

 

 

46,367

 

Shares - diluted non-GAAP (c)

 

46,000

 

 

 

44,942

 

 

 

 

 

GAAP net income per share - diluted

$

0.17

 

 

$

0.30

 

Share-based compensation expense

 

0.35

 

 

 

0.27

 

Amortization of acquired intangibles

 

0.20

 

 

 

0.14

 

Acquisition accounting impact related to deferred revenues

 

0.01

 

 

 

 

Acquisition-related expenses

 

0.03

 

 

 

 

Impairment of operating lease right-of-use assets

 

0.04

 

 

 

 

Severance-related and other expenses

 

0.08

 

 

 

0.07

 

Amortization of debt issuance costs

 

0.02

 

 

 

0.02

 

Amortization of discount on convertible senior notes

 

 

 

 

0.10

 

Non-GAAP dilutive shares impact from convertible note hedge transaction (c)

 

0.01

 

 

 

 

Tax effect of the adjustments above (b)

 

(0.08

)

 

 

(0.07

)

Non-GAAP net income per share - diluted

$

0.83

 

 

$

0.83

 

 

 

 

 

Reconciliation of GAAP net income to non-GAAP EBITDA(d):

GAAP net income

$

8,213

 

 

$

14,127

 

Share-based compensation expense

 

16,208

 

 

 

11,772

 

Interest (income) and expense, net

 

(33

)

 

 

(30

)

Depreciation and amortization expense

 

21,124

 

 

 

17,575

 

Acquisition accounting impact related to deferred revenues

 

378

 

 

 

 

Acquisition-related expenses

 

1,395

 

 

 

 

Impairment of operating lease right-of-use assets

 

1,753

 

 

 

 

Severance-related and other expenses (a)

 

3,527

 

 

 

2,971

 

Amortization of debt issuance costs

 

1,038

 

 

 

849

 

Amortization of discount on convertible senior notes

 

 

 

 

4,571

 

Income tax benefit

 

(3,243

)

 

 

(1,208

)

Non-GAAP EBITDA

$

50,360

 

 

$

50,627

 

Non-GAAP EBITDA margin (non-GAAP EBITDA as a % of total non-GAAP revenues)

 

15.8

%

 

 

20.1

%

_________________________________________________

(a)

For the three months ended March 31, 2021, other expenses included approximately $1.0 million of certain litigation costs.

(b)

Tax effects calculated for all adjustments except share-based compensation expense, using an estimated annual effective tax rate of 21% for both fiscal years 2022 and 2021.

(c)

For the three months ended March 31, 2022 and 2021, non-GAAP diluted shares exclude approximately 1.9 million and 1.4 million shares, respectively, related to the impact of dilutive convertible senior notes for which the Company is economically hedged through its anti-dilutive convertible note hedge transaction.

(d)

Defined as earnings before interest income and expense, taxes, depreciation, amortization, and share-based compensation, as well as excluding certain other non-GAAP adjustments.

Omnicell, Inc.

Reconciliation of GAAP to Non-GAAP

(Unaudited, in thousands)

 

 

Three Months Ended March 31,

 

2022

 

2021

 

 

 

 

Reconciliation of GAAP net cash provided by (used in) operating activities to non-GAAP free cash flow:

GAAP net cash provided by (used in) operating activities

$

(15,996

)

 

$

57,415

 

Software development for external use

 

(3,852

)

 

 

(8,043

)

Purchases of property and equipment

 

(11,489

)

 

 

(5,089

)

Non-GAAP free cash flow

$

(31,337

)

 

$

44,283

 

Выручка по ОПБУ и без учета ОПБУ составила 319 миллионов долларов

Чистая прибыль по ОПБУ на разводненную акцию в размере 0,17 долл.

Чистая прибыль на разводненную акцию без учета ОПБУ составила 0,83 долл.

Запущена инновационная роботизированная технология компаундирования IVX Station

МАУНТИН-ВЬЮ, Калифорния. -(BUSINESS WIRE)-Omnicell, Inc. (NASDAQ:OMCL) (“Omnicell”, “мы”, “наш”, “нас”, “руководство” или “Компания”), ведущий поставщик решений для управления лекарственными средствами и инструментов соблюдения требований для систем здравоохранения и аптек, сегодня объявил результаты за первый квартал, закончившийся 31 марта, 2022 год.

“Мы довольны нашим уверенным началом 2022 года, поскольку мы продолжили набирать обороты с прошлого года и продвинули нашу стратегию по преобразованию модели оказания аптечной помощи с помощью автоматизации и высокотехнологичных услуг”, - заявил Рэндалл Липпс, председатель, президент, главный исполнительный директор и основатель Omnicell. “Трудовые ограничения в сфере здравоохранения подчеркивают настоятельную необходимость автоматизации и модернизации процессов управления лекарственными средствами. Мы по-прежнему наблюдаем устойчивый спрос в ключевых областях нашего портфеля передовых услуг, что, по нашему мнению, отражает признание нашими клиентами необходимости улучшения доступа к сложным лекарственным средствам и управления ими. Кроме того, мы были рады объявить о запуске IVX Station, инновационного решения, разработанного для использования роботизированной технологии IV, чтобы сделать аптечную помощь более разумной и безопасной для всех. Я горжусь последовательной работой нашей команды в этой динамичной среде. Заглядывая в будущее, мы считаем, что у нас есть все возможности для предоставления необходимых продуктов и решений для управления лекарствами следующего поколения, которые позволят нашим клиентам улучшить результаты лечения пациентов и обеспечить безопасное и эффективное лечение в аптеках ”.

Общая выручка по GAAP за первый квартал 2022 года составила 319 миллионов долларов, что на 67 миллионов долларов больше, или на 27%, по сравнению с первым кварталом 2021 года. Увеличение доходов по GAAP отражает высокий спрос на решения Omnicell для автоматизации управления приемом лекарств, а также вклад доходов от недавних приобретений.

Чистая прибыль по ОПБУ за первый квартал 2022 года составила 8 миллионов долларов, или 0,17 доллара на разводненную акцию. Это сопоставимо с чистой прибылью по GAAP в размере 14 миллионов долларов, или 0,30 доллара на разводненную акцию, за первый квартал 2021 года.

Результаты, не относящиеся к ОПБУ

Общая выручка без учета GAAP за первый квартал 2022 года составила 319 миллионов долларов, что на 67 миллионов долларов больше, или на 27%, по сравнению с первым кварталом 2021 года. Увеличение доходов, не связанных с GAAP, отражает высокий спрос на решения Omnicell для автоматизации управления приемом лекарств, а также вклад доходов от недавних приобретений.

Чистая прибыль без учета GAAP за первый квартал 2022 года составила 38 миллионов долларов, или 0,83 доллара на разводненную акцию. Это сопоставимо с чистой прибылью без учета GAAP в размере 37 миллионов долларов, или 0,83 доллара на разводненную акцию, за первый квартал 2021 года.

Показатель EBITDA без учета GAAP за первый квартал 2022 года составил 50 миллионов долларов. Это сопоставимо с показателем EBITDA без учета GAAP в размере 51 миллиона долларов за первый квартал 2021 года.

Баланс и Выкуп акций

По состоянию на 31 марта 2022 года баланс Omnicell отражал денежные средства и их эквиваленты в размере 265 миллионов долларов, общий долг в размере 564 миллионов долларов и общие активы в размере 2,12 миллиарда долларов. В первом квартале 2022 года капитальные затраты составили 11 миллионов долларов, без учета приобретений и разработки программного обеспечения для внешнего использования. Денежные потоки, использованные в операционной деятельности в первом квартале 2022 года, составили 16 миллионов долларов. Это сопоставимо с денежными потоками, полученными от операционной деятельности на общую сумму 57 миллионов долларов в первом квартале 2021 года.

В течение первого квартала 2022 года Компания выкупила 389 300 своих обыкновенных акций на сумму 52 миллиона долларов. По состоянию на 31 марта 2022 года у Компании оставалось около 3 миллионов долларов в рамках программы обратного выкупа. По состоянию на 31 марта 2022 года Компания располагала средствами в размере 500 миллионов долларов в рамках возобновляемой кредитной линии.

Основные моменты бизнеса

  • IVX Station: Omnicell запустил IVX Station, инновационное решение, разработанное для масштабирования преимуществ роботизированной технологии IV и обеспечения ее доступности для основного рынка. Ожидается, что внедрение новых технологий и усовершенствование существующих решений повысят ценность для клиентов. Новые решения и возможности предназначены для автоматизации рабочих процессов, оптимизации операций и улучшения ухода за пациентами в сложной нормативно-правовой среде.
  • EnlivenHealth: EnlivenHealth® продолжает продвигать свою миссию по созданию и внедрению одного из самых инновационных технологических решений SaaS, предназначенных для того, чтобы розничные аптеки всех размеров и типов могли расти и процветать в эту новую эру цифрового здравоохранения. Omnicell продолжает продвигать интеграцию FDS Amplicare® и MarkeTouch Media и уже видит значительный прогресс в решениях для перекрестных продаж между приобретенными компаниями и клиентской базой EnlivenHealth.
  • Отчет о корпоративной ответственности за 2021 год: Ранее в этом месяце Omnicell опубликовал свой Отчет о корпоративной ответственности за 2021 год, в котором освещается прогресс, достигнутый Компанией в ее экологических, социальных, управленческих и инновационных инициативах, а также демонстрируется приверженность Omnicell разработке значимых целей и принятию целенаправленных действий. Корпоративная ответственность остается долгосрочной целью Omnicell.

Компания ожидает, что за весь 2022 год объем заказов на продукцию составит от 1,370 млрд до 1,430 млрд долларов. Компания ожидает, что общая выручка за весь 2022 год по ОПБУ и без ОПБУ составит от 1,385 млрд до 1,410 млрд долларов. Компания ожидает, что выручка за весь 2022 год по ОПБУ и не по ОПБУ составит от 975 до 990 миллионов долларов, а выручка за весь 2022 год по ОПБУ и не по ОПБУ составит от 410 до 420 миллионов долларов. Компания ожидает, что показатель EBITDA за весь 2022 год без учета GAAP составит от 243 до 255 миллионов долларов. Компания ожидает, что прибыль за весь 2022 год без учета GAAP составит от 3,85 до 4,05 доллара на акцию.

Во втором квартале 2022 года Компания ожидает, что общая выручка по GAAP и без учета GAAP составит от 337 до 343 миллионов долларов. Компания ожидает, что выручка от реализации продукции по ОПБУ и не по ОПБУ во втором квартале 2022 года составит от 241 до 244 миллионов долларов, а выручка от услуг по ОПБУ и не по ОПБУ во втором квартале 2022 года составит от 96 до 99 миллионов долларов. Компания ожидает, что показатель EBITDA без учета GAAP во втором квартале 2022 года составит от 54 до 58 миллионов долларов. Компания ожидает, что прибыль во втором квартале 2022 года без учета GAAP составит от 0,82 до 0,89 доллара на акцию.

Наши рекомендации на второй квартал и весь 2022 год включают ожидаемые взносы и затраты на интеграцию в связи с недавними приобретениями, а также ожидаемые последствия текущей инфляционной среды.

В таблице ниже обобщены рекомендации Omnicell на 2022 год, изложенные выше.

 

Q2 2022

FY 2022

Product Bookings

Not provided

$1.370 billion - $1.430 billion

Total GAAP and Non-GAAP Revenues

$337 million - $343 million

$1.385 billion - $1.410 billion

GAAP and Non-GAAP Product Revenues

$241 million - $244 million

$975 million - $990 million

GAAP and Non-GAAP Service Revenues

$96 million - $99 million

$410 million - $420 million

Non-GAAP EBITDA

$54 million - $58 million

$243 million - $255 million

Non-GAAP Earnings Per Share

$0.82 - $0.89

$3.85 - $4.05

Компания не предоставляет рекомендаций по чистой прибыли по ОПБУ или прибыли на акцию по ОПБУ, а также сверки этих прогнозных финансовых показателей, не относящихся к ОПБУ, с наиболее непосредственно сопоставимыми финансовыми показателями по ОПБУ на прогнозной основе, поскольку она не в состоянии прогнозировать определенные статьи, содержащиеся в показателях по ОПБУ, без необоснованных усилий. Эти прогнозные финансовые показатели, не относящиеся к GAAP, не включают определенные статьи, которые могут быть значительными, включая, но не ограничиваясь ими, необычные прибыли и убытки, расходы, связанные с будущей реструктуризацией, расходы, связанные с приобретением, а также определенные налоговые и судебные последствия.

Информация о конференц-звонке Omnicell

Omnicell проведет селекторное совещание сегодня, в четверг, 28 апреля 2022 года, в 1:30 вечера по североамериканскому времени, чтобы обсудить финансовые результаты за первый квартал 2022 года. Доступ к конференц-звонку можно получить, набрав 1-888-550-5424 в пределах США или 1-646-960-0819 для всех других мест. Идентификационный номер конференции - 5370673. Ссылка на прямую и архивированную веб-трансляцию также будет доступна в разделе по связям с инвесторами на веб-сайте Omnicell по адресу http://ir .Omnicell.com/events-and-presentations /.

С 1992 года Omnicell стремится преобразовать модель оказания медицинской помощи в аптеках, чтобы значительно улучшить результаты и снизить затраты. Благодаря отраслевому видению автономной аптеки, сочетанию автоматизации, интеллектуальных и технологических сервисов, основанных на облачной платформе обработки данных, Omnicell поддерживает более эффективные способы управления лекарствами во всех медицинских учреждениях.

Учреждения по всему миру используют наши решения для автоматизации и аналитики для повышения операционной эффективности, уменьшения количества ошибок при приеме лекарств, предоставления действенной информации и повышения безопасности пациентов. Институциональные и розничные аптеки по всей Северной Америке, Соединенному Королевству, Германии и Австралии используют наши инновационные решения в области соблюдения режима приема лекарств и охраны здоровья населения для улучшения вовлеченности пациентов и соблюдения предписаний, помогая сократить дорогостоящие повторные госпитализации.

Чтобы узнать больше, посетите веб-сайт www.Omnicell.com . Время от времени Omnicell может использовать веб-сайт Компании по связям с инвесторами и другие онлайн-каналы социальных сетей, включая свой аккаунт в Twitter www.twitter.com/Omnicell , страница LinkedIn www.linkedin.com/company/Omnicell , и страница в Facebook www.facebook.com/omnicellinc , раскрывать существенную непубличную информацию и соблюдать свои обязательства по раскрытию информации в соответствии с Положением о справедливом раскрытии информации (“Reg FD”).

Omnicell, логотип Omnicell, AMPLICARE и ENLIVENHEALTH являются зарегистрированными товарными знаками Omnicell, Inc. или одной из ее дочерних компаний.

Прогнозные заявления

В той мере, в какой любые заявления, содержащиеся в настоящем пресс-релизе, касаются информации, которая не является исторической, эти заявления являются “прогнозными заявлениями” по смыслу Закона о реформе судебных разбирательств по частным ценным бумагам 1995 года. Без ограничения вышеизложенного, заявления, включающие слова “ожидать”, “намереваться”, “может”, “будет”, “должен”, “хотел бы”, “мог бы”, “планировать”, “потенциал”, “предвидеть”, “полагать”, “прогноз”, “руководство,” “прогноз”, “цели”, “цель”, “оценка”, “поиск”, “прогноз”, “проект” и подобные выражения предназначены для определения прогнозных заявлений. Прогнозные заявления зависят от возникновения многих событий, находящихся вне контроля Omnicell. Такие заявления включают, но не ограничиваются ими, прогнозируемые заказы Omnicell, доходы по GAAP и не по GAAP, включая доходы от продуктов и услуг по GAAP и не по GAAP, соответственно, EBITDA без учета GAAP и прибыль на акцию без учета GAAP; планируемые новые продукты и услуги и связанные с ними ожидаемые выгоды; и заявления о стратегии, планах, целях, задачах и видении Omnicell. Фактические результаты и другие события могут существенно отличаться от тех, которые предусмотрены в прогнозных заявлениях, из-за многочисленных факторов, которые связаны со значительными известными и неизвестными рисками и неопределенностями. Эти риски и неопределенности включают, помимо прочего, (а) риски, связанные с текущей COVID-19 пандемией (в том числе новые варианты вируса), и (II) Omnicell способности воспользоваться возможностями роста и разрабатывать и внедрять новые решения и улучшать существующие решения, (III) и продолжение и усиление конкуренции со стороны существующих и будущих конкурентов в лекарство управлению автоматизацией рынка и приверженности лечению решений рынка, (IV) неблагоприятные общие экономические и рыночные условия или снижение спроса на наши решения, (в) изменения в 340В программы (ви) Omnicell это существенный долг, которые могут подорвать ее финансовую гибкость и доступ к капиталу, (VII) и риски, связанные с Omnicell инвестиции в новые бизнес-стратегий и инициатив, в том числе продавать больше продуктов и сервисов на основе подписки, и их способность к приобретению компаний, предприятий, или технологии и успешно интегрировать такие приобретения, (VIII В) риски, связанные с государством нормативных актов, изменения в законодательстве, мошенничества и откатов статуи, продукты претензии, исход судебного разбирательства, и прочие юридические обязанности, которые связаны со здравоохранением, конфиденциальности, защиты данных и информационной безопасности (IX) любые нарушения в Omnicell по информационно-технологических систем и нарушения защиты данных и кибер-атаки на свои системы или решения, (х) риски, связанные с работой в зарубежных странах (Си) Omnicell способность привлекать и удерживать квалифицированных и мотивированных кадров, (ХІІ) Omnicell способность защищать свою интеллектуальную собственность, (ХІІІ) Omnicell способности для удовлетворения потребностей, или поддерживать отношения с его институциональные, розничная и специальность Фармация покупателям (XIV в) риски, связанные с наличием и источники сырья, материалов и комплектующих или колебания цен, дефицита или перебоев поставок, (ХV) Omnicell зависимость от ограниченного числа поставщиков для отдельных компонентов, оборудования и сырья, а также технологии, предоставляемые сторонними поставщиками, и (XVI) другие риски и неопределенности, более подробно описаны в разделе “Факторы риска” в разделе Omnicell последнем годовом отчете по форме 10-K, а также в Omnicell других отчетов, подаваемых обстановка в США по ценным бумагам и биржам (“КЦБ”), существующих в www.sec.gov. Прогнозные заявления следует рассматривать в свете этих рисков и неопределенностей. Инвесторов и других лиц предостерегают от чрезмерного доверия к прогнозным заявлениям. Все прогнозные заявления, содержащиеся в настоящем пресс-релизе, относятся только к дате настоящего пресс-релиза. Omnicell не берет на себя никаких обязательств по публичному обновлению любых таких заявлений или обновлению причин, по которым фактические результаты могут существенно отличаться от тех, которые выражены или подразумеваются в любых прогнозных заявлениях, будь то в результате изменившихся обстоятельств, новой информации, будущих событий или иным образом, за исключением случаев, предусмотренных законом.

Использование финансовой информации, не относящейся к ОПБУ

Настоящий пресс-релиз содержит финансовые показатели, которые не рассчитаны в соответствии с Общепринятыми принципами бухгалтерского учета США (“GAAP”). Руководство оценивает и принимает операционные решения, используя различные показатели эффективности. В дополнение к результатам Omnicell по GAAP, мы также учитываем доходы, не относящиеся к GAAP, валовую прибыль, не относящуюся к GAAP, валовую прибыль, не относящуюся к GAAP, операционные расходы, не относящиеся к GAAP, доход от операций, не относящийся к GAAP, операционную маржу, не относящуюся к GAAP, чистую прибыль, не относящуюся к GAAP, чистую прибыль на разводненную акцию, разводненные акции без учета GAAP, показатель EBITDA без учета GAAP, маржа EBITDA без учета GAAP и свободный денежный поток без учета GAAP. Эти результаты и показатели, не относящиеся к GAAP, не следует рассматривать в качестве альтернативы выручке, валовой прибыли, операционным расходам, доходам от операций, чистой прибыли, чистой прибыли на разводненную акцию, разводненным акциям, чистым денежным средствам, полученным от операционной деятельности, или любым другим показателям эффективности, полученным в соответствии с GAAP. Мы представляем эти результаты и показатели, не относящиеся к GAAP, потому что руководство считает их важными дополнительными показателями эффективности Omnicell и ссылается на такие показатели при анализе стратегии и операций Omnicell.

Наши доходы без учета GAAP, валовая прибыль без учета GAAP, валовая прибыль без учета GAAP, операционные расходы без учета GAAP, доходы от операций без учета GAAP, операционная маржа без учета GAAP, чистая прибыль без учета GAAP, чистая прибыль на разводненную акцию без учета GAAP, EBITDA без учета GAAP и не-Рентабельность по EBITDA по GAAP исключена из определенных статей, чтобы облегчить руководству анализ сопоставимости основных операционных результатов Omnicell на периодической основе, поскольку такие статьи не связаны с текущими основными операционными результатами Omnicell, с точки зрения руководства. Мы определяем наши “основные операционные результаты” как доходы, зарегистрированные в определенном периоде, и расходы, понесенные в течение такого периода, которые непосредственно влияют на операционный доход в этом периоде. Руководство использует эти финансовые показатели, не относящиеся к GAAP, при принятии операционных решений, потому что, в дополнение к значимой дополнительной информации об операционных показателях, эти показатели дают нам лучшее понимание того, как, по нашему мнению, мы должны инвестировать в исследования и разработки, финансировать развитие инфраструктуры и оценивать эффективность маркетинговых стратегий. При расчете вышеуказанных результатов, не относящихся к GAAP: доходы, не относящиеся к GAAP, исключаются из статьи a), эквивалентной GAAP, ниже; валовая прибыль, не относящаяся к GAAP, и валовая прибыль, не относящаяся к GAAP, исключаются из их эквивалентов по GAAP, статей a), b), c) и f) ниже; операционные расходы, не относящиеся к GAAP, исключаются из своих эквивалентов по GAAP пункты b), c), d), e), f) и i) ниже; доходы от операций, не относящиеся к GAAP, и операционная маржа, не относящиеся к GAAP, исключают из своих эквивалентов по GAAP пункты a), b), c), d), e), f), и i) ниже; и чистая прибыль, не относящаяся к GAAP, и чистая прибыль, не относящаяся к GAAP, на разводненную акцию исключают из их эквивалентов по GAAP статьи a)-i) ниже. Показатель EBITDA, не относящийся к GAAP, определяется как прибыль до вычета процентных доходов и расходов, налогов, износа, амортизации и компенсации на основе акций, а также без учета некоторых других корректировок, не относящихся к GAAP. Показатель EBITDA, не относящийся к GAAP, и маржа EBITDA, не относящаяся к GAAP, исключают из их эквивалентов по GAAP пункты a), b), d), e), f), g), h) и i), приведенные ниже:

a)

Acquisition accounting impact related to deferred revenues. In connection with the recent acquisition of FDS Amplicare, we recorded a fair value adjustment to acquired deferred revenues as part of the purchase accounting in accordance with GAAP. The adjustment represents revenues that would have been recognized in the normal course of business by FDS Amplicare if the acquisition had not occurred, but was not recognized due to GAAP purchase accounting requirements. The non-GAAP adjustment to our revenues is intended to include the full amounts of such revenues. We believe the adjustment to these revenues is useful as a measure of the ongoing performance of our business.

b)

Share-based compensation expense. We excluded from our non-GAAP results the expense related to equity-based compensation plans as it represents expenses that do not require cash settlement from Omnicell.

c)

Amortization of acquired intangible assets. We excluded from our non-GAAP results the intangible assets amortization expense resulting from our past acquisitions. These non-cash charges are not considered by management to reflect the core cash-generating performance of the business and therefore are excluded from our non-GAAP results.

d)

Acquisition-related expenses. We excluded from our non-GAAP results the expenses related to recent acquisitions, including amortization of representations and warranties insurance. These expenses are unrelated to our ongoing operations, vary in size and frequency, and are subject to significant fluctuations from period to period due to varying levels of acquisition activity. We believe that excluding these expenses provides more meaningful comparisons of the financial results to our historical operations and forward-looking guidance, and to the financial results of less acquisitive peer companies.

e)

Impairment of operating lease right-of-use assets. We excluded from our non-GAAP results the impairment of operating lease right-of-use assets incurred in connection with restructuring activities for optimization of certain leased facilities. These non-cash charges are not considered by management to reflect the core cash-generating performance of the business and therefore are excluded from our non-GAAP results.

f)

Severance-related expenses. We excluded from our non-GAAP results the expenses related to restructuring events. These expenses are unrelated to our ongoing operations, vary in size and frequency, and are subject to significant fluctuations from period to period due to varying levels of restructuring activity. We believe that excluding these expenses provides more meaningful comparisons of the financial results to our historical operations and forward-looking guidance, and to the financial results of peer companies.

g)

Amortization of debt issuance costs. Debt issuance costs represent costs associated with the issuance of term loan and revolving credit facilities, as well as the issuance of convertible senior notes. The costs include underwriting fees, original issue discount, ticking fees, and legal fees. These non-cash expenses are not considered by management to reflect the core cash-generating performance of the business and therefore are excluded from our non-GAAP results.

h)

Amortization of discount on convertible senior notes. We excluded from our non-GAAP results the amortization of the imputed discount on our convertible senior notes. Under GAAP (prior to the adoption of Accounting Standards Update 2020-06, effective January 1, 2022), certain convertible debt instruments that may be settled in cash upon conversion were required to be bifurcated into separate liability and equity components in a manner that reflects the issuer’s assumed non-convertible debt borrowing rate. For GAAP purposes, we were required to recognize the imputed interest expense on the difference between our assumed non-convertible debt borrowing rate and the coupon rate on our convertible senior notes. This non-cash expense is not considered by management to reflect the core cash-generating performance of the business and therefore is excluded from our non-GAAP results.

i)

Certain litigation costs. We excluded non-recurring charges and benefits, including litigation expenses and settlements, related to litigation matters that are outside of the ordinary course of our business or that are not representative of those that we historically have incurred. These expenses are unrelated to our ongoing operations and we do not expect them to occur in the ordinary course of business. We believe that excluding these expenses provides more meaningful comparisons of the financial results to our historical operations and forward-looking guidance, and to the financial results of peer companies.

Руководство вносит коррективы в вышеуказанные статьи, поскольку руководство считает, что в целом эти статьи обладают одной или несколькими из следующих характеристик: их величина и сроки в значительной степени находятся вне контроля Omnicell; они не связаны с текущей деятельностью бизнеса в обычном режиме; они необычны, и мы не ожидаем, что они происходят в ходе обычной деятельности; или они являются внереализационными или неденежными расходами, связанными с планами компенсации запасов или другими статьями.

Мы считаем, что представление доходов не по GAAP, валовой прибыли не по GAAP, валовой прибыли не по GAAP, операционных расходов не по GAAP, доходов от операций не по GAAP, операционной прибыли не по GAAP, чистой прибыли не по GAAP, чистой прибыли на разводненную акцию не по GAAP, не по GAAP Показатель EBITDA, а маржа EBITDA, не связанная с GAAP, оправдана по нескольким причинам:

a)

Such non-GAAP financial measures provide an additional analytical tool for understanding Omnicell’s financial performance by excluding the impact of items which may obscure trends in the core operating results of the business.

b)

Since we have historically reported non-GAAP results to the investment community, we believe the inclusion of non-GAAP numbers provides consistency and enhances investors’ ability to compare our performance across financial reporting periods.

c)

These non-GAAP financial measures are employed by management in its own evaluation of performance and are utilized in financial and operational decision-making processes, such as budget planning and forecasting.

d)

These non-GAAP financial measures facilitate comparisons to the operating results of other companies in our industry, which also use non-GAAP financial measures to supplement their GAAP results (although these companies may calculate non-GAAP financial measures differently than Omnicell does), thus enhancing the perspective of investors who wish to utilize such comparisons in their analysis of our performance.

Ниже приведены дополнительные причины, по которым расходы на компенсацию, основанные на акциях, исключены из наших финансовых показателей, не относящихся к GAAP:

i)

While share-based compensation calculated in accordance with Accounting Standards Codification (“ASC”) 718 constitutes an ongoing and recurring expense of Omnicell, it is not an expense that requires cash settlement by Omnicell. We therefore exclude these charges for purposes of evaluating core operating results. Thus, our non-GAAP measurements are presented exclusive of share-based compensation expense to assist management and investors in evaluating our core operating results.

ii)

We present ASC 718 share-based payment compensation expense in our reconciliation of non-GAAP financial measures on a pre-tax basis because the exact tax differences related to the timing and deductibility of share-based compensation under ASC 718 are dependent upon the trading price of Omnicell’s common stock and the timing and exercise by employees of their stock options. As a result of these timing and market uncertainties, the tax effect related to share-based compensation expense would be inconsistent in amount and frequency and is therefore excluded from our non-GAAP results.

Разводненные акции, не относящиеся к GAAP, определяются как наши разводненные акции по GAAP, исключая влияние разводняющих конвертируемых старших облигаций, для которых Компания экономически хеджируется посредством своей сделки по хеджированию конвертируемых облигаций, препятствующей разводнению. Мы считаем, что разводненные акции, не относящиеся к GAAP, являются полезным показателем, не относящимся к GAAP, поскольку он дает представление о компенсирующем экономическом эффекте сделки хеджирования от потенциальной конвертации конвертируемых старших облигаций.

Свободный денежный поток, не соответствующий ОПБУ, определяется как чистые денежные средства, полученные от операционной деятельности, за вычетом денежных средств, использованных для разработки программного обеспечения для внешнего использования и приобретения основных средств. Мы считаем, что свободный денежный поток важен для того, чтобы инвесторы могли лучше понимать и оценивать наши текущие операционные результаты, а также обеспечивает большую прозрачность при анализе и понимании наших общих финансовых, операционных и экономических показателей, поскольку свободный денежный поток учитывает определенные капитальные затраты и денежные средства, используемые для разработки программного обеспечения, необходимого для работы нашей компании. бизнес.

Как указывалось выше, мы представляем финансовые показатели, не относящиеся к GAAP, поскольку считаем их важными дополнительными показателями эффективности. Однако финансовые показатели, не относящиеся к GAAP, имеют ограничения в качестве аналитического инструмента и не должны рассматриваться изолированно или в качестве замены результатов GAAP Omnicell. В будущем мы ожидаем понести расходы, аналогичные некоторым корректировкам, не связанным с GAAP, описанным выше, и ожидаем, что продолжим сообщать о финансовых показателях, не связанных с GAAP, исключая такие статьи. Некоторые из ограничений, связанных с использованием финансовых показателей, не относящихся к ОПБУ, заключаются в следующем:

a)

Omnicell’s stock option and stock purchase plans are important components of incentive compensation arrangements and will be reflected as expenses in Omnicell’s GAAP results for the foreseeable future under ASC 718.

b)

Other companies, including companies in Omnicell’s industry, may calculate non-GAAP financial measures differently than Omnicell, limiting their usefulness as a comparative measure.

c)

A limitation of the utility of free cash flow as a measure of financial performance is that it does not represent the total increase or decrease in Omnicell’s cash balance for the period.

Подробная сверка между финансовыми результатами Omnicell, не относящимися к GAAP, и финансовыми результатами GAAP приведена в финансовых таблицах в конце этого пресс-релиза. Инвесторам рекомендуется внимательно изучить и рассмотреть эту информацию исключительно в качестве дополнения к результатам GAAP, которые содержатся в этом пресс-релизе, а также в других отчетах Omnicell, поданных или представленных SEC.

Omnicell, Inc.

Condensed Consolidated Statements of Operations

(Unaudited, in thousands, except per share data)

 

 

Three Months Ended March 31,

 

2022

 

2021

 

 

 

 

Revenues:

 

 

 

Product revenues

$

225,875

 

 

$

178,125

 

Services and other revenues

 

92,953

 

 

 

73,718

 

Total revenues

 

318,828

 

 

 

251,843

 

Cost of revenues:

 

 

 

Cost of product revenues

 

118,338

 

 

 

92,627

 

Cost of services and other revenues

 

50,443

 

 

 

36,933

 

Total cost of revenues

 

168,781

 

 

 

129,560

 

Gross profit

 

150,047

 

 

 

122,283

 

Operating expenses:

 

 

 

Research and development

 

25,030

 

 

 

16,080

 

Selling, general, and administrative

 

119,933

 

 

 

86,593

 

Total operating expenses

 

144,963

 

 

 

102,673

 

Income from operations

 

5,084

 

 

 

19,610

 

Interest and other income (expense), net

 

(114

)

 

 

(6,691

)

Income before provision for income taxes

 

4,970

 

 

 

12,919

 

Benefit from income taxes

 

(3,243

)

 

 

(1,208

)

Net income

$

8,213

 

 

$

14,127

 

Net income per share:

 

 

 

Basic

$

0.19

 

 

$

0.33

 

Diluted

$

0.17

 

 

$

0.30

 

Weighted-average shares outstanding:

 

 

 

Basic

 

44,249

 

 

 

42,962

 

Diluted

 

47,918

 

 

 

46,367

 

Omnicell, Inc.

Condensed Consolidated Balance Sheets

(Unaudited, in thousands)

 

 

March 31,
2022

 

December 31,
2021

 

 

 

 

ASSETS

Current assets:

 

 

 

Cash and cash equivalents

$

265,008

 

$

349,051

Accounts receivable and unbilled receivables, net

 

290,469

 

 

240,894

Inventories

 

137,056

 

 

119,924

Prepaid expenses

 

24,228

 

 

22,499

Other current assets

 

58,843

 

 

48,334

Total current assets

 

775,604

 

 

780,702

Property and equipment, net

 

77,062

 

 

71,141

Long-term investment in sales-type leases, net

 

19,051

 

 

18,391

Operating lease right-of-use assets

 

43,204

 

 

48,549

Goodwill

 

740,426

 

 

738,900

Intangible assets, net

 

269,427

 

 

277,616

Long-term deferred tax assets

 

16,054

 

 

15,883

Prepaid commissions

 

59,643

 

 

63,795

Other long-term assets

 

122,117

 

 

127,519

Total assets

$

2,122,588

 

$

2,142,496

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

 

 

 

Accounts payable

$

71,645

 

$

71,513

Accrued compensation

 

47,271

 

 

71,130

Accrued liabilities

 

139,829

 

 

133,167

Deferred revenues, net

 

127,998

 

 

112,196

Convertible senior notes, net

 

564,269

 

 

488,152

Total current liabilities

 

951,012

 

 

876,158

Long-term deferred revenues

 

24,037

 

 

20,194

Long-term deferred tax liabilities

 

28,173

 

 

51,705

Long-term operating lease liabilities

 

37,273

 

 

39,911

Other long-term liabilities

 

7,352

 

 

7,839

Total liabilities

 

1,047,847

 

 

995,807

Total stockholders’ equity

 

1,074,741

 

 

1,146,689

Total liabilities and stockholders’ equity

$

2,122,588

 

$

2,142,496

Omnicell, Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited, in thousands)

 

 

Three Months Ended March 31,

 

2022

 

2021

 

 

 

 

Operating Activities

 

 

 

Net income

$

8,213

 

 

$

14,127

 

Adjustments to reconcile net income to net cash provided by (used in) operating activities:

 

 

 

Depreciation and amortization

 

21,124

 

 

 

17,575

 

Share-based compensation expense

 

16,208

 

 

 

11,772

 

Deferred income taxes

 

(4,858

)

 

 

(862

)

Amortization of operating lease right-of-use assets

 

3,307

 

 

 

2,895

 

Impairment of operating lease right-of-use assets

 

1,753

 

 

 

 

Amortization of debt issuance costs

 

1,038

 

 

 

849

 

Amortization of discount on convertible senior notes

 

 

 

 

4,571

 

Changes in operating assets and liabilities:

 

 

 

Accounts receivable and unbilled receivables

 

(49,994

)

 

 

(15,427

)

Inventories

 

(17,320

)

 

 

(1,035

)

Prepaid expenses

 

(1,712

)

 

 

(1,095

)

Other current assets

 

7,950

 

 

 

3,128

 

Investment in sales-type leases

 

(1,097

)

 

 

925

 

Prepaid commissions

 

4,152

 

 

 

2,710

 

Other long-term assets

 

2,240

 

 

 

2,177

 

Accounts payable

 

312

 

 

 

10,368

 

Accrued compensation

 

(23,859

)

 

 

(17,899

)

Accrued liabilities

 

769

 

 

 

4,661

 

Deferred revenues

 

19,786

 

 

 

21,749

 

Operating lease liabilities

 

(3,521

)

 

 

(3,142

)

Other long-term liabilities

 

(487

)

 

 

(632

)

Net cash provided by (used in) operating activities

 

(15,996

)

 

 

57,415

 

Investing Activities

 

 

 

Software development for external use

 

(3,852

)

 

 

(8,043

)

Purchases of property and equipment

 

(11,489

)

 

 

(5,089

)

Business acquisition, net of cash acquired

 

(3,392

)

 

 

 

Net cash used in investing activities

 

(18,733

)

 

 

(13,132

)

Financing Activities

 

 

 

Proceeds from issuances under stock-based compensation plans

 

18,951

 

 

 

20,826

 

Employees’ taxes paid related to restricted stock units

 

(4,322

)

 

 

(2,596

)

Change in customer funds, net

 

5,462

 

 

 

(2,631

)

Stock repurchases

 

(52,210

)

 

 

 

Net cash provided by (used in) financing activities

 

(32,119

)

 

 

15,599

 

Effect of exchange rate changes on cash and cash equivalents

 

(411

)

 

 

(386

)

Net increase (decrease) in cash, cash equivalents, and restricted cash

 

(67,259

)

 

 

59,496

 

Cash, cash equivalents, and restricted cash at beginning of period

 

355,620

 

 

 

489,920

 

Cash, cash equivalents, and restricted cash at end of period

$

288,361

 

 

$

549,416

 

Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets:

Cash and cash equivalents

$

265,008

 

 

$

548,055

 

Restricted cash included in Other current assets

 

23,353

 

 

 

1,361

 

Cash, cash equivalents, and restricted cash at end of period

$

288,361

 

 

$

549,416

 

Omnicell, Inc.

Reconciliation of GAAP to Non-GAAP

(Unaudited, in thousands, except per share data and percentage)

 

 

Three Months Ended March 31,

 

2022

 

2021

 

 

 

 

Reconciliation of GAAP revenues to non-GAAP revenues:

GAAP revenues

$

318,828

 

 

$

251,843

 

Acquisition accounting impact related to deferred revenues

 

378

 

 

 

 

Non-GAAP revenues

$

319,206

 

 

$

251,843

 

 

 

 

 

Reconciliation of GAAP gross profit to non-GAAP gross profit:

 

GAAP gross profit

$

150,047

 

 

$

122,283

 

GAAP gross margin

 

47.1

%

 

 

48.6

%

Share-based compensation expense

 

2,244

 

 

 

1,937

 

Amortization of acquired intangibles

 

3,314

 

 

 

2,816

 

Acquisition accounting impact related to deferred revenues

 

378

 

 

 

 

Severance-related expenses

 

156

 

 

 

389

 

Non-GAAP gross profit

$

156,139

 

 

$

127,425

 

Non-GAAP gross margin

 

48.9

%

 

 

50.6

%

 

 

 

 

Reconciliation of GAAP operating expenses to non-GAAP operating expenses:

GAAP operating expenses

$

144,963

 

 

$

102,673

 

GAAP operating expenses % to total revenues

 

45.5

%

 

 

40.8

%

Share-based compensation expense

 

(13,964

)

 

 

(9,835

)

Amortization of acquired intangibles

 

(5,739

)

 

 

(3,456

)

Acquisition-related expenses

 

(1,395

)

 

 

 

Impairment of operating lease right-of-use assets

 

(1,753

)

 

 

 

Severance-related and other expenses (a)

 

(3,371

)

 

 

(2,582

)

Non-GAAP operating expenses

$

118,741

 

 

$

86,800

 

Non-GAAP operating expenses as a % of total non-GAAP revenues

 

37.2

%

 

 

34.5

%

 

 

 

 

Reconciliation of GAAP income from operations to non-GAAP income from operations:

GAAP income from operations

$

5,084

 

 

$

19,610

 

GAAP operating income % to total revenues

 

1.6

%

 

 

7.8

%

Share-based compensation expense

 

16,208

 

 

 

11,772

 

Amortization of acquired intangibles

 

9,053

 

 

 

6,272

 

Acquisition accounting impact related to deferred revenues

 

378

 

 

 

 

Acquisition-related expenses

 

1,395

 

 

 

 

Impairment of operating lease right-of-use assets

 

1,753

 

 

 

 

Severance-related and other expenses (a)

 

3,527

 

 

 

2,971

 

Non-GAAP income from operations

$

37,398

 

 

$

40,625

 

Non-GAAP operating margin (non-GAAP operating income as a % of total non-GAAP revenues)

 

11.7

%

 

 

16.1

%

Omnicell, Inc.

Reconciliation of GAAP to Non-GAAP

(Unaudited, in thousands, except per share data and percentage)

 

 

Three Months Ended March 31,

 

2022

 

2021

 

 

 

 

Reconciliation of GAAP net income to non-GAAP net income:

GAAP net income

$

8,213

 

 

$

14,127

 

Share-based compensation expense

 

16,208

 

 

 

11,772

 

Amortization of acquired intangibles

 

9,053

 

 

 

6,272

 

Acquisition accounting impact related to deferred revenues

 

378

 

 

 

 

Acquisition-related expenses

 

1,395

 

 

 

 

Impairment of operating lease right-of-use assets

 

1,753

 

 

 

 

Severance-related and other expenses (a)

 

3,527

 

 

 

2,971

 

Amortization of debt issuance costs

 

1,038

 

 

 

849

 

Amortization of discount on convertible senior notes

 

 

 

 

4,571

 

Tax effect of the adjustments above (b)

 

(3,601

)

 

 

(3,079

)

Non-GAAP net income

$

37,964

 

 

$

37,483

 

 

 

 

 

Reconciliation of GAAP net income per share - diluted to non-GAAP net income per share - diluted:

Shares - diluted GAAP

 

47,918

 

 

 

46,367

 

Shares - diluted non-GAAP (c)

 

46,000

 

 

 

44,942

 

 

 

 

 

GAAP net income per share - diluted

$

0.17

 

 

$

0.30

 

Share-based compensation expense

 

0.35

 

 

 

0.27

 

Amortization of acquired intangibles

 

0.20

 

 

 

0.14

 

Acquisition accounting impact related to deferred revenues

 

0.01

 

 

 

 

Acquisition-related expenses

 

0.03

 

 

 

 

Impairment of operating lease right-of-use assets

 

0.04

 

 

 

 

Severance-related and other expenses

 

0.08

 

 

 

0.07

 

Amortization of debt issuance costs

 

0.02

 

 

 

0.02

 

Amortization of discount on convertible senior notes

 

 

 

 

0.10

 

Non-GAAP dilutive shares impact from convertible note hedge transaction (c)

 

0.01

 

 

 

 

Tax effect of the adjustments above (b)

 

(0.08

)

 

 

(0.07

)

Non-GAAP net income per share - diluted

$

0.83

 

 

$

0.83

 

 

 

 

 

Reconciliation of GAAP net income to non-GAAP EBITDA(d):

GAAP net income

$

8,213

 

 

$

14,127

 

Share-based compensation expense

 

16,208

 

 

 

11,772

 

Interest (income) and expense, net

 

(33

)

 

 

(30

)

Depreciation and amortization expense

 

21,124

 

 

 

17,575

 

Acquisition accounting impact related to deferred revenues

 

378

 

 

 

 

Acquisition-related expenses

 

1,395

 

 

 

 

Impairment of operating lease right-of-use assets

 

1,753

 

 

 

 

Severance-related and other expenses (a)

 

3,527

 

 

 

2,971

 

Amortization of debt issuance costs

 

1,038

 

 

 

849

 

Amortization of discount on convertible senior notes

 

 

 

 

4,571

 

Income tax benefit

 

(3,243

)

 

 

(1,208

)

Non-GAAP EBITDA

$

50,360

 

 

$

50,627

 

Non-GAAP EBITDA margin (non-GAAP EBITDA as a % of total non-GAAP revenues)

 

15.8

%

 

 

20.1

%

_________________________________________________

(a)

For the three months ended March 31, 2021, other expenses included approximately $1.0 million of certain litigation costs.

(b)

Tax effects calculated for all adjustments except share-based compensation expense, using an estimated annual effective tax rate of 21% for both fiscal years 2022 and 2021.

(c)

For the three months ended March 31, 2022 and 2021, non-GAAP diluted shares exclude approximately 1.9 million and 1.4 million shares, respectively, related to the impact of dilutive convertible senior notes for which the Company is economically hedged through its anti-dilutive convertible note hedge transaction.

(d)

Defined as earnings before interest income and expense, taxes, depreciation, amortization, and share-based compensation, as well as excluding certain other non-GAAP adjustments.

Omnicell, Inc.

Reconciliation of GAAP to Non-GAAP

(Unaudited, in thousands)

 

 

Three Months Ended March 31,

 

2022

 

2021

 

 

 

 

Reconciliation of GAAP net cash provided by (used in) operating activities to non-GAAP free cash flow:

GAAP net cash provided by (used in) operating activities

$

(15,996

)

 

$

57,415

 

Software development for external use

 

(3,852

)

 

 

(8,043

)

Purchases of property and equipment

 

(11,489

)

 

 

(5,089

)

Non-GAAP free cash flow

$

(31,337

)

 

$

44,283

 

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