Omnicell Q1 Earnings, Revenue Fall; Reiterates 2023 Guidance
June 4, 2023
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OMNICELL ($NASDAQ:OMCL): The Capital IQ analyst consensus had estimated $0.06 for the quarter. Despite the dip in earnings, the company reiterated its full-year 2023 guidance. The company is now focused on streamlining operations and driving organic growth initiatives to reach its 2023 financial targets.
Earnings
In its earnings report for the first quarter of fiscal year 2023, Omnicell reported total revenues of $290.63 million and a net loss of $15.0 million. This represents an 8.8% decrease in total revenue and a 282.7% decrease in net income compared to the same period in the previous year. Despite the losses reported, Omnicell reaffirmed its guidance for 2023.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Omnicell. More…
| Total Revenues | Net Income | Net Margin |
| 1.27k | -17.57 | -1.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Omnicell. More…
| Operations | Investing | Financing |
| 106.55 | -53.58 | 15.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Omnicell. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.25k | 1.11k | 25.08 |
Key Ratios Snapshot
Some of the financial key ratios for Omnicell are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.1% | 26.3% | -2.4% |
| FCF Margin | ROE | ROA |
| 3.7% | -1.7% | -0.8% |
Share Price
On Tuesday, OMNICELL reported its first quarter earnings and revenue, which both fell short of Wall Street expectations. Despite these lower than expected numbers, OMNICELL stock opened at $74.1 and closed at $75.3, up by 2.2% from its last closing price of 73.7. The company’s Q1 revenue was down by 9% year-over-year, but their overall product sales increased by 3% due to strong sales in their medication adherence and automation business. Live Quote…
Analysis
GoodWhale has conducted an analysis of OMNICELL’s wellbeing and detected that it is a high risk investment in terms of financial and business aspects, based on our Risk Rating. We have identified four risk warnings in the income sheet, balance sheet, cashflow statement and non financial areas. If you are interested to find out more, register with us as a user and you can access this detailed analysis. Our tool will not only help to provide greater clarity on the risks associated with the OMNICELL investment, but also provide guidance on how to make more informed decisions when it comes to taking on any future investments. More…
Peers
The company’s products are used by hospitals, nursing homes, home health agencies, and other healthcare providers. Omnicell Inc’s competitors include Nexus AG, PrimeCare Systems Inc, 10x Genomics Inc, and other companies that provide similar products and services.
– Nexus AG ($LTS:0FGL)
Nexus AG is a German software company that specializes in enterprise resource planning (ERP) software. The company has a market capitalization of 814.29 million euros as of 2022 and a return on equity of 11.21%. Nexus AG’s main competitors include SAP SE, Oracle Corporation, and Microsoft Corporation.
– PrimeCare Systems Inc ($OTCPK:PCYS)
PrimaCare Systems Inc is a publicly traded company with a market capitalization of $44.19 million as of March 2022. The company has a return on equity of 9.24%. PrimaCare Systems Inc is a healthcare technology company that provides software and services to healthcare providers.
– 10x Genomics Inc ($NASDAQ:TXG)
10x Genomics Inc is a life sciences company that develops and sells products and services for genomic analysis. The company’s products include sequencing services, software, and tools for analyzing genomic data. 10x Genomics was founded in 2012 and is headquartered in Pleasanton, California.
10x Genomics has a market cap of $3.07 billion as of 2022 and a return on equity of -10.81%. The company’s products are used for genomic sequencing and analysis, and its services include software and tools for analyzing genomic data. 10x Genomics was founded in 2012 and is headquartered in Pleasanton, California.
Summary
Investors should take note of Omnicell‘s Q1 earnings report, which showed a decline in their non-GAAP earnings per diluted share from $0.83 to $0.39. This is lower than what analysts had anticipated based on the Capital IQ poll of $0.06. Despite this, Omnicell reaffirmed their full-year 2023 guidance. Given the current market conditions, investors should consider all available information before making any investing decisions regarding Omnicell.
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