Omnicell Reports Fiscal Year and Fourth Quarter 2021 Results|||

2021 Full Product Bookings of $1.217 billion

Full Year 2021 Revenues of $1.132 billion

Ended Year with 151 Long-Term, Sole-Source Agreements with the Top 300 U.S. Health Systems

Entered 2022 with Product Excess of $one.254 billion

Mountain VIEW, Calif.–(BUSINESS WIRE)–Omnicell, Inc. (NASDAQ:OMCL) (“Omnicell,” “we,” “our,” “us,” “management,” or the “Company”), a leading provider of medication direction solutions and adherence tools for healthcare systems and pharmacies, today announced results for its fourth quarter and fiscal year ended December 31, 2021.

GAAP Results

Total GAAP revenues for the quaternary quarter of 2021 were $311.0 million, upwards $61.viii million, or 25%, from the fourth quarter of 2020. The stiff increase in GAAP revenues reflects stiff demand for Omnicell’s medication management adherence automation solutions, as well as the contribution of revenues from the acquisition of RxInnovation Inc., operating every bit FDS Amplicare (“FDS Amplicare”) in the tertiary quarter of 2021.

Total revenues for the year concluded December 31, 2021 were $i.132 billion, up $239.8 million, or 27%, from the twelvemonth ended Dec 31, 2020.

GAAP net income for the fourth quarter 2021 was $14.0 million, or $0.28 per diluted share. This compares to GAAP net income of $16.4 million, or $0.37 per diluted share, for the fourth quarter of 2020.

GAAP cyberspace income for the year concluded December 31, 2021 was $77.8 one thousand thousand, or $1.62 per diluted share. This compares to GAAP net income of $32.two one thousand thousand, or $0.74 per diluted share, for the year ended Dec 31, 2020.

Not-GAAP Results

Total not-GAAP revenues for the fourth quarter of 2021 were $311.7 million, upward $62.5 one thousand thousand, or 25%, from the fourth quarter of 2020. The strong increase in not-GAAP revenues reflects strong demand for Omnicell’southward medication management adherence automation solutions, likewise as the contribution of revenues from the acquisition of FDS Amplicare®
in the third quarter of 2021.

Total non-GAAP revenues for the yr ended December 31, 2021 were $ane.133 billion, upwardly $240.6 million, or 27%, from the year ended Dec 31, 2020.

Full non-GAAP net income for the fourth quarter of 2021 was $43.five million, or $0.92 per diluted share. This compares to not-GAAP net income of $40.ii one thousand thousand, or $0.91 per diluted share, for the fourth quarter of 2020.

Not-GAAP net income for the year concluded Dec 31, 2021 was $175.1 million, or $3.81 per diluted share. This compares to non-GAAP cyberspace income of $111.3 million, or $2.54 per diluted share, for the twelvemonth concluded December 31, 2020.

Not-GAAP EBITDA for the fourth quarter of 2021 was $52.0 million. This compares to non-GAAP EBITDA of $51.6 million for the fourth quarter of 2020.

Non-GAAP EBITDA for the year ended December 31, 2021 was $229.half dozen million. This compares to non-GAAP EBITDA of $159.iv meg for the year ended Dec 31, 2020.

Full product bookings for the yr ended December 31, 2021 were $i.217 billion compared to $1.002 billion for the year concluded December 31, 2020, or an increase of 21% twelvemonth-over-year. Total production backlog for the twelvemonth ended December 31, 2021 was $1.254 billion compared to $924 million for the year concluded December 31, 2020, or an increment of 36% year-over-year. We consider excess that is expected to exist converted to revenues in more than twelve months to be long-term excess. The long-term portion of the product excess was $439 million and $307 million as of December 31, 2021 and 2020, respectively.

During the fourth quarter of 2021, Omnicell completed its acquisitions of MarkeTouch Media LLC (“MarkeTouch Media”), a pharmacy software solutions provider, and ReCept Holdings, Inc. (“ReCept”), a provider of specialty pharmacy management services. The MarkeTouch Media acquisition adds mobile and web-based technology and patient engagement solutions, which is expected to expand the footprint of EnlivenHealth®
across the retail pharmacy sector, while enhancing potential growth opportunities in new market segments similar specialty pharmacy and pharmacy benefits management. The add-on of ReCept’s specialty chemist’s shop management services for health systems, provider groups, and federally qualified health centers expands Omnicell’south Advanced Services portfolio in an effort to address the growing and complex specialty pharmacy market. The results of operations of MarkeTouch Media and ReCept take been included in our consolidated results of operations beginning December 31, 2021 and December 29, 2021, respectively.

“We achieved record bookings, revenues, and non-GAAP EBITDA in 2021, supported by robust customer need for our differentiated solutions that exceeded our expectations,” said Randall Lipps, Chairman, President, Master Executive Officer, and founder of Omnicell. “Nosotros believe our outstanding results are a reflection of the strong delivery and consistent execution by our teams and, importantly, demonstrate to us that our strategy to transform the pharmacy care delivery model through automation and tech-enabled services is working. As the constrained labor market continues to impact astute care and the retail environment, we believe Omnicell is uniquely positioned to assist our customers in addressing these challenges past automating transmission medication management processes that are ultimately designed to improve patient outcomes. Our concern has proven to be very resilient and our innovation pipeline is potent, which should position united states well for continued value creation in 2022 and across.”

2022 Guidance

For the full year 2022, the Company expects production bookings to be betwixt $i.370 billion and $i.430 billion. The Company expects full year 2022 total GAAP and not-GAAP revenues to be betwixt $ane.385 billion and $1.410 billion. The Company expects full year 2022 GAAP and non-GAAP product revenues to be between $950 meg and $965 million, and full year 2022 GAAP and non-GAAP service revenues to be between $435 million and $445 meg. The Company expects full twelvemonth 2022 non-GAAP EBITDA to exist between $243 one thousand thousand and $255 1000000. The Visitor expects full year 2022 non-GAAP earnings to be between $3.75 and $iii.95 per share.

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For the showtime quarter of 2022, the Company expects total GAAP and not-GAAP revenues to be between $312 1000000 and $318 million. The Company expects first quarter 2022 GAAP and non-GAAP product revenues to be between $216 million and $219 million, and kickoff quarter 2022 GAAP and non-GAAP service revenues to exist betwixt $96 million and $99 meg. The Company expects get-go quarter 2022 not-GAAP EBITDA to be betwixt $45 1000000 and $49 million. The Company expects showtime quarter 2022 not-GAAP earnings to exist between $0.65 and $0.72 per share.

Our outset quarter and total year 2022 guidance includes the anticipated contributions of ReCept, MarkeTouch Media, and the previously-acquired FDS Amplicare, the integration costs of such acquisitions, as well equally the anticipated furnishings of the current inflationary surroundings.

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

Q1 2022

2022

Product Bookings

Not provided

$1.370 billion – $ane.430 billion

Total GAAP and Non-GAAP Revenues

$312 million – $318 meg

$1.385 billion – $1.410 billion

GAAP and Non-GAAP Production Revenues

$216 million – $219 million

$950 million – $965 1000000

GAAP and Not-GAAP Service Revenues

$96 million – $99 meg

$435 million – $445 1000000

Non-GAAP EBITDA

$45 million – $49 million

$243 meg – $255 one thousand thousand

Non-GAAP Earnings Per Share

$0.65 – $0.72

$3.75 – $3.95

The Company does non provide guidance for GAAP net income or GAAP earnings per share, nor a reconciliation of these forward-looking non-GAAP financial measures to the about direct comparable GAAP fiscal measures on a forward-looking basis considering it is unable to predict certain items contained in the GAAP measures without unreasonable efforts. These frontwards-looking non-GAAP financial measures do not include certain items, which may exist significant, including, just not express to, unusual gains and losses, costs associated with future restructurings, acquisition-related expenses, and sure revenue enhancement and litigation outcomes.

Omnicell Briefing Call Data

Omnicell volition hold a conference call today, Monday, February fourteen, 2022 at ane:xxx p.one thousand. PT to discuss its fourth quarter and year stop 2021 financial results. The briefing telephone call tin can be accessed by dialing i-888-550-5424 within the U.South. or 1-646-960-0819 for all other locations. The Conference ID # is 5370673. A link to the live and archived webcast will besides be available on the Investor Relations section of Omnicell’s website at http://ir.omnicell.com/events-and-presentations/.

About Omnicell

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 past a cloud data platform, Omnicell supports more than efficient ways to manage medications across all care settings.

Facilities worldwide utilise our automation and analytics solutions to increment operational efficiency, reduce medication errors, deliver actionable intelligence, and ameliorate patient rubber. Institutional and retail pharmacies across Northward America, the Uk, Germany, and Australia leverage our innovative medication adherence and population health solutions to improve patient engagement and adherence to prescriptions, helping to reduce plush infirmary readmissions.

To learn more, visit world wide web.omnicell.com. From time to time, Omnicell may employ 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/visitor/omnicell, and Facebook page world wide web.facebook.com/omnicellinc, to disembalm material not-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 1 of its subsidiaries.

Forwards-Looking Statements

To the extent any statements contained in this printing release deal with information that is non 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 “await,” “intend,” “may,” “will,” “should,” “would,” “could,” “plan,” “potential,” “anticipate,” “believe,” “forecast,” “guidance,” “outlook,” “goals,” “target,” “gauge,” “seek,” “predict,” “project,” and similar expressions are intended to place forward-looking statements. Forward-looking statements are discipline to the occurrence of many events exterior Omnicell’s command. Such statements include, simply are not limited to, Omnicell’s projected bookings, GAAP and non-GAAP revenues, including GAAP and not-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 almost Omnicell’southward strategy, plans, objectives, goals, and vision. Actual results and other events may differ significantly from those contemplated by frontward-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-xix 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, (3) continued and increased competition from electric current and future competitors in the medication direction automation solutions marketplace and the medication adherence solutions market, (4) unfavorable full general economical and market conditions or reduction in need for our solutions, (v) Omnicell’s substantial debt, which could impair its financial flexibility and access to capital, (vi) 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 power to acquire companies, businesses, or technologies and successfully integrate such acquisitions, (7) risks presented by regime 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, (eight) any disruption in Omnicell’due south it systems and breaches of data security or cyber-attacks on its systems or solutions, (ix) risks associated with operating in foreign countries, (x) Omnicell’due south ability to recruit and retain skilled and motivated personnel, (xi) Omnicell’south ability to protect its intellectual property, (xii) Omnicell’due south power to meet the demands of, or maintain relationships with, its institutional, retail, and specialty pharmacy customers, (thirteen) risks related to the availability and sources of raw materials and components or price fluctuations, shortages, or interruptions of supply, (xiv) Omnicell’south dependence on a limited number of suppliers for sure components, equipment, and raw materials, also as technologies provided by tertiary-party vendors, and (xv) other risks and uncertainties farther described in the “Chance Factors” section of Omnicell’due south about contempo Almanac Report on Form 10-K and subsequent quarterly reports on Form 10-Q, also as in Omnicell’s other reports filed with or furnished to the United States Securities and Commutation Commission (“SEC”), available at world wide web.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 forrad-looking statements contained in this printing release speak but as of the date of this press release. Omnicell assumes no obligation to update any such statements publicly, or to update the reasons bodily results could differ materially from those expressed or unsaid in whatsoever forward-looking statements, whether equally a result of changed circumstances, new data, future events, or otherwise, except equally required by law.

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Utilise of Non-GAAP Financial Information

This printing release contains financial measures that are non calculated in accordance with U.S. Mostly Accepted Bookkeeping Principles (“GAAP”). Management evaluates and makes operating decisions using diverse performance measures. In addition to Omnicell’s GAAP results, we besides 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 internet income per diluted share, non-GAAP diluted shares, non-GAAP EBITDA, non-GAAP EBITDA margin, and non-GAAP costless greenbacks menses. These non-GAAP results and metrics should not be considered equally an alternative to revenues, gross profit, operating expenses, income from operations, internet income, net income per diluted share, diluted shares, internet greenbacks provided by operating activities, or any other performance mensurate derived in accordance with GAAP. Nosotros present these not-GAAP results and metrics because direction considers them to exist important supplemental measures of Omnicell’s performance and refers to such measures when analyzing Omnicell’southward strategy and operations.

Our non-GAAP revenues, not-GAAP gross profit, not-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, non-GAAP cyberspace income per diluted share, non-GAAP EBITDA, and non-GAAP EBITDA margin are exclusive of certain items to facilitate direction’s review of the comparability of Omnicell’southward core operating results on a menstruation-to-menstruum basis because such items are not related to Omnicell’due south ongoing cadre operating results as viewed by direction. We define our “cadre operating results” every bit those revenues recorded in a detail menses 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 considering, in addition to meaningful supplemental information regarding operating performance, the measures requite us a meliorate agreement of how we believe we should invest in research and evolution, 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 particular a) below; non-GAAP gross turn a profit and not-GAAP gross margin exclude from their GAAP equivalents items a), b), c), and due east) below; not-GAAP operating expenses excludes from its GAAP equivalents items b), c), d), e), h), and i) below; non-GAAP income from operations and non-GAAP operating margin exclude from their GAAP equivalents items a), b), c), d), e), h), and i) below; and non-GAAP internet income and not-GAAP net income per diluted share exclude from their GAAP equivalents items a) through j) below. Not-GAAP EBITDA is defined as earnings earlier interest income and expense, taxes, depreciation, amortization, and share-based bounty, too every bit excluding certain other non-GAAP adjustments. Non-GAAP EBITDA and non-GAAP EBITDA margin exclude from their GAAP equivalents items a), b), d), east), f), chiliad), h), and i) below:

a)

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

b)

Share-based bounty expense.
We excluded from our non-GAAP results the expense related to equity-based compensation plans as it represents expenses that exercise not crave 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 not-greenbacks charges are non 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.
Nosotros excluded from our non-GAAP results the expenses related to recent acquisitions. These expenses are unrelated to our ongoing operations, vary in size and frequency, and are subject to significant fluctuations from catamenia to menstruation due to varying levels of acquisition activity. We believe that excluding these expenses provides more meaningful comparisons of the fiscal results to our historical operations and frontward-looking guidance, and to the fiscal results of less acquisitive peer companies.

due east)

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 activeness. We believe that excluding these expenses provides more meaningful comparisons of the fiscal results to our historical operations and forward-looking guidance, and to the financial results of peer companies.

f)

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

g)

Amortization of disbelieve on convertible senior notes.
We excluded from our not-GAAP results the amortization of the imputed discount on our convertible senior notes. Under GAAP, sure convertible debt instruments that may exist settled in cash upon conversion are required to be bifurcated into separate liability and disinterestedness components in a manner that reflects the issuer’s assumed non-convertible debt borrowing rate. For GAAP purposes, nosotros are required to recognize the imputed involvement expense on the difference between our assumed non-convertible debt borrowing rate and the coupon charge per unit on our convertible senior notes. This not-cash expense is not considered past management to reflect the cadre cash-generating operation of the business organisation and therefore is excluded from our non-GAAP results.

h)

Intellectual property (“IP”) and legal entities restructuring costs.
We excluded from our not-GAAP results the expenses related to IP and legal entities’ restructuring events, such every bit legal and taxation consulting costs. These expenses are unrelated to our ongoing operations, vary in size and frequency, and are subject to significant fluctuations from menses to period due to varying levels of restructuring activity. Nosotros believe that excluding these expenses provides more meaningful comparisons of the financial results to our historical operations and forwards-looking guidance, and to the financial results of peer companies.

i)

Sure litigation costs.
We excluded non-recurring charges and benefits, including litigation expenses and settlements, related to litigation matters that are outside of the ordinary class 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 non expect them to occur in the ordinary form of business organisation. We believe that excluding these expenses provides more meaningful comparisons of the financial results to our historical operations and frontward-looking guidance, and to the fiscal results of peer companies.

j)

Tax impact of IP restructuring.
Nosotros excluded from our not-GAAP results the tax affect related to the release of a internet uncertain tax benefit every bit a result of constructive settlement with the taxation regime related to prior IP restructuring. This bear on is unrelated to our ongoing operations, and nosotros do not expect it to occur in the ordinary form of business concern. Nosotros believe that excluding this impact provides more meaningful comparisons of the fiscal results to our historical operations and forward-looking guidance, and to the financial results of peer companies.

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

We believe that t

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