OMNICELL, INC. (OMCL): restructuring charge — Omnicell Q1 revenues down 15% to $246M, GAAP net loss $0.34/sh; initiates wind-down of Medimat RDS

OMNICELL, INC.

Q1 GAAP revenues $246M (-15% YoY); GAAP net loss $16M ($0.34/sh) vs loss $15M ($0.33/sh) last year.
Non-GAAP net income $1M ($0.03/sh); non-GAAP EBITDA $11M, down from $27M in Q1 2023.
Management commits to wind down Medimat RDS product line; expects to cut >80 employees and close Bochum, Germany facility.
Estimated nonrecurring charges $15-20M ($10-13M cash); $1.6M impairment in Q4 2023 and $3.3M severance in Q1 2024 already recorded.
Full-year 2024 guidance unchanged: revenues $1.045-1.120B, non-GAAP EPS $0.90-1.40, non-GAAP EBITDA $90-120M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OMNICELL, INC. reported first quarter ended March 31, 2024 results: revenue $246 million, net income $16 million, or $0.34 per diluted share, EPS $0.34 per diluted share.

Period: first quarter ended March 31, 2024
Revenue: $246 million
Net income: $16 million, or $0.34 per diluted share
EPS: $0.34 per diluted share
Result: reported results

Exact text from the filing

Worth, TX 76137 Kathleen.Nemeth@Omnicell.com Omnicell Announces First Quarter 2024 Results Results exceed prior first quarter guidance across all metrics Total GAAP revenues of $246 million FORT WORTH, Texas -- May 2, 2024 -- Omnicell, Inc. (NASDAQ:OMCL) (“Omnicell,” “we,” “our,” “us,” “management,” or the “Company”), a leader in transforming the pharmacy care

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

OMNICELL, INC. announced a restructuring with charges of approximately $15 - $20 million affecting Medimat Robotic Dispensing System (RDS) product line (more than 80 employees).

Type: restructuring
Charge: approximately $15 - $20 million
Affected area: Medimat Robotic Dispensing System (RDS) product line
Headcount: more than 80 employees

Exact text from the filing

once any required consent of the works council, as applicable, has finally been obtained. If the RDS Plan proceeds, the Company estimates that it will incur approximately $15 - $20 million of nonrecurring charges, of which $10 - $13 million are expected to result in future cash expenditures. The estimated nonrecurring charges consist of (i)

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Source: SEC EDGAR

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