Omnicell inventory crashes 32% as FY22 outlook slashed, Q3 sees headwinds

Omnicell (NASDAQ:OMCL) inventory slumped ~32% on Wednesday after Q3 income missed estimates and the corporate decreased its FY22 outlook.

Non-GAAP EPS declined to $1, in comparison with $1.08 in Q3 2021, however managed to beat analysts expectations.

Complete income grew +17.43% Y/Y to ~$348.06M, however missed estimates.

“Within the third quarter, we skilled headwinds in our level of care merchandise, pushed by well being system capital finances freezes and delays and ongoing buyer labor availability challenges. These components weighed on our outcomes and drove our up to date outlook for the complete 12 months,” mentioned Omnicell Founder, Chairman, President and CEO Randall Lipps.

Q3 non-GAAP EBITDA fell -8.08% Y/Y to $60.61M.

As of Sept. 30, Omnicell’s money and money equivalents have been $266M, and complete debt (web of unamortized debt issuance prices) of $566M.

“We intend to take steps to regulate our price construction which can be designed to deal with these headwinds, whereas remaining targeted on investing in our innovation roadmap, and we’ll proceed to be nimble in navigating this dynamic macro-economic atmosphere,” added Lipps.

Outlook:

FY22: Omnicell lower its full 12 months 2022 income outlook to be between $1.284B and $1.294B (prior forecast throughout Q2 outcomes $1.385B and $1.41B) consensus $1.40B.

FY22 non-GAAP EPS to be between $2.73 and $2.83 (prior outlook $3.85 and $4.05) consensus of $3.83.

This fall: The corporate expects revenues to be between $285M and $295M (consensus $382.33M).

Non-GAAP EPS to be within the vary of $0.05 and $0.15 (consensus of $1.21).