# OMNICELL, INC. (OMCL)

Informational only - not investment advice.

CIK: 0000926326
SIC: 3571 Electronic Computers
SIC breadcrumb: [Manufacturing](/division/D/) > [Industrial And Commercial Machinery And Computer Equipment](/major-group/35/) > [SIC 3571 Electronic Computers](/industry/3571/)
Latest 10-K filed: 2026-02-26
SEC page: https://www.sec.gov/edgar/browse/?CIK=926326
Filing source: https://www.sec.gov/Archives/edgar/data/926326/000092632626000006/omcl-20251231.htm

## At a glance

FY2025 · period end 2025-12-31 · filed 2026-02-26 · accession 0000926326-26-000006 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000926326.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 1,184,845,000 USD | 2025 | verified |
| Net income | 2,052,000 USD | 2025 | verified |
| Assets | 1,974,720,000 USD | 2025 | verified |
| Free cash flow | 86,885,000 USD | 2025 | computed |
| Net margin | 0.17% | 2025 | computed |
| Operating margin | 0.44% | 2025 | computed |
| Revenue YoY | +6.53% | 2025 | computed |
| ROE | 0.17% | 2025 | computed |

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity.

No market price, no rating, no forecast on this site. Not investment advice.

### Peer percentile fingerprint

| Ratio | OMCL | Peer median | Percentile | N |
| --- | ---: | ---: | ---: | ---: |
| Net margin | 0.2% | 7.7% | 17 | 110 |
| Operating margin | 0.4% | 13.1% | 13 | 104 |
| Revenue growth | 6.5% | 5.8% | 52 | 111 |
| FCF margin | 7.3% | 9.6% | 33 | 103 |
| ROE | 0.2% | 11.7% | 18 | 108 |
| ROA | 0.1% | 5.6% | 18 | 111 |
| Liabilities / equity | 0.60 | 1.10 | 21 | 108 |
| Current ratio | 1.43 | 2.02 | 28 | 110 |

Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC major-group 35 Industrial And Commercial Machinery And Computer Equipment, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.

## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 1184845000 | USD | 2025 | 2026-02-26 |
| Net income | 2052000 | USD | 2025 | 2026-02-26 |
| Assets | 1974720000 | USD | 2025 | 2026-02-26 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-02-26. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000926326.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | 695,908,000 | 712,714,000 | 787,309,000 | 897,027,000 | 892,208,000 | 1,132,018,000 | 1,295,947,000 | 1,147,112,000 | 1,112,238,000 | 1,184,845,000 |
| Net income | 9,756,000 | 30,518,000 | 37,729,000 | 61,338,000 | 32,194,000 | 77,849,000 | 5,648,000 | -20,371,000 | 12,531,000 | 2,052,000 |
| Operating income | 21,405,000 | 11,145,000 | 44,392,000 | 78,352,000 | 35,526,000 | 89,507,000 | -2,323,000 | -34,868,000 | 337,000 | 5,160,000 |
| Gross profit | 317,085,000 | 318,637,000 | 372,330,000 | 436,912,000 | 413,292,000 | 554,653,000 | 588,987,000 | 496,840,000 | 471,003,000 | 503,442,000 |
| Diluted EPS | 0.26 | 0.79 | 0.93 | 1.43 | 0.74 | 1.62 | 0.12 | -0.45 | 0.27 | 0.04 |
| Operating cash flow | 49,900,000 | 24,834,000 | 103,966,000 | 145,008,000 | 185,870,000 | 231,809,000 | 77,781,000 | 181,094,000 | 187,722,000 | 127,300,000 |
| Capital expenditures | 13,445,000 | 15,341,000 | 23,697,000 | 15,894,000 | 22,842,000 | 28,967,000 | 47,536,000 | 41,474,000 | 36,463,000 | 40,415,000 |
| Share buybacks | 0.00 | 0.00 | 0.00 | 0.00 | 53,035,000 | 0.00 | 52,210,000 | 0.00 | 0.00 | 77,600,000 |
| Assets | 935,103,000 | 1,016,362,000 | 1,081,242,000 | 1,240,810,000 | 1,824,504,000 | 2,142,496,000 | 2,210,758,000 | 2,226,878,000 | 2,120,960,000 | 1,974,720,000 |
| Liabilities | 503,496,000 | 462,021,000 | 401,625,000 | 395,556,000 | 857,001,000 | 995,807,000 | 1,080,621,000 | 1,037,924,000 | 877,647,000 | 742,906,000 |
| Stockholders' equity | 458,836,000 | 554,341,000 | 679,617,000 | 845,254,000 | 967,503,000 | 1,146,689,000 | 1,130,137,000 | 1,188,954,000 | 1,243,313,000 | 1,231,814,000 |
| Cash and cash equivalents | 54,488,000 | 32,424,000 | 67,192,000 | 127,210,000 | 485,928,000 | 349,051,000 | 330,362,000 | 467,972,000 | 369,201,000 | 196,520,000 |
| Free cash flow | 36,455,000 | 9,493,000 | 80,269,000 | 129,114,000 | 163,028,000 | 202,842,000 | 30,245,000 | 139,620,000 | 151,259,000 | 86,885,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin | 1.40% | 4.28% | 4.79% | 6.84% | 3.61% | 6.88% | 0.44% | -1.78% | 1.13% | 0.17% |
| Operating margin | 3.08% | 1.56% | 5.64% | 8.73% | 3.98% | 7.91% | -0.18% | -3.04% | 0.03% | 0.44% |
| Return on equity | 2.13% | 5.51% | 5.55% | 7.26% | 3.33% | 6.79% | 0.50% | -1.71% | 1.01% | 0.17% |
| Return on assets | 1.04% | 3.00% | 3.49% | 4.94% | 1.76% | 3.63% | 0.26% | -0.91% | 0.59% | 0.10% |
| Liabilities / equity | 1.10 | 0.83 | 0.59 | 0.47 | 0.89 | 0.87 | 0.96 | 0.87 | 0.71 | 0.60 |
| Current ratio | 1.74 | 1.72 | 1.94 | 2.04 | 3.00 | 0.89 | 2.06 | 2.52 | 1.37 | 1.43 |

## As-reported value updates

10 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period.

Ledger: /company/OMCL/revisions/


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-05. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000926326.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2022-Q3 | 2022-09-30 |  |  | 0.37 | reported discrete quarter |
| 2023-Q1 | 2023-03-31 |  |  | -0.33 | reported discrete quarter |
| 2023-Q2 | 2023-06-30 |  |  | 0.08 | reported discrete quarter |
| 2023-Q3 | 2023-06-30 |  | 3,451,000 |  | reported discrete quarter |
| 2023-Q3 | 2023-09-30 | 298,663,000 |  | 0.12 | reported discrete quarter |
| 2023-Q4 | 2023-12-31 | 258,847,000 | -14,375,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2024-Q1 | 2024-03-31 | 246,151,000 | -15,676,000 | -0.34 | reported discrete quarter |
| 2024-Q2 | 2024-03-31 |  | -15,676,000 |  | reported discrete quarter |
| 2024-Q2 | 2024-06-30 | 276,788,000 |  | 0.08 | reported discrete quarter |
| 2024-Q3 | 2024-06-30 |  | 3,735,000 |  | reported discrete quarter |
| 2024-Q3 | 2024-09-30 | 282,420,000 |  | 0.19 | reported discrete quarter |
| 2024-Q4 | 2024-12-31 | 306,879,000 | 15,842,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q1 | 2025-03-31 | 269,668,000 | -7,023,000 | -0.15 | reported discrete quarter |
| 2025-Q2 | 2025-03-31 |  | -7,023,000 |  | reported discrete quarter |
| 2025-Q2 | 2025-06-30 | 290,562,000 |  | 0.12 | reported discrete quarter |
| 2025-Q3 | 2025-06-30 |  | 5,639,000 |  | reported discrete quarter |
| 2025-Q3 | 2025-09-30 | 310,631,000 |  | 0.12 | reported discrete quarter |
| 2025-Q4 | 2025-12-31 | 313,984,000 | -2,026,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2026-03-31 | 309,880,000 | 11,358,000 | 0.25 | reported discrete quarter |
| 2026-Q2 | 2026-03-31 |  | 11,358,000 |  | reported discrete quarter |
| 2026-Q2 | 2026-06-30 | 312,208,000 |  | 0.52 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from OMCL's latest 10-K: [/company/OMCL/business/](/company/OMCL/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from OMCL's latest 10-K: [/company/OMCL/risk-factors/](/company/OMCL/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/926326/000092632626000022/omcl-20260630.htm

Extracted structurally from real Item 2 body heading to real Item 3/4 boundary. Published MD&A gate trimmed front/tail over-capture.
Confidence: high
Filing date: 2026-08-05
Report date: 2026-06-30

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

FORWARD-LOOKING STATEMENTS AND FACTORS THAT MAY AFFECT FUTURE RESULTS

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The forward-looking statements are contained throughout this Quarterly Report on Form 10-Q including in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” In some cases, you can identify forward-looking statements by terms such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goals,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “seeks,” “should,” “target,” “will,” “would,” “vision,” and variations of these terms and similar expressions.

Forward-looking statements are based on our current expectations and assumptions, and are subject to known and unknown risks and uncertainties, many of which are beyond our control, which may cause our actual results, performance, or achievements to be materially different from those expressed or implied in the forward-looking statements. Such risks and uncertainties include those described throughout this Quarterly Report on Form 10-Q, including in Part I - Item 2 “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Part II - Item 1A. “Risk Factors,” as well as in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the U.S. Securities and Exchange Commission (“SEC”) on February 26, 2026. Given these risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements should be considered in light of these risks and uncertainties. You should carefully read this Quarterly Report on Form 10-Q and the documents that we reference in this Quarterly Report on Form 10-Q and have filed as exhibits, as well as other documents we file with, or furnish to, the U.S. Securities and Exchange Commission (“SEC”) from time to time, with the understanding that our actual future results may be materially different from what we expect. The forward-looking statements in this Quarterly Report on Form 10-Q represent our current estimates and assumptions and speak only as of the date of this Quarterly Report on Form 10-Q. Except as required by law, we assume no obligation to update any forward-looking 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, future events, even if new information becomes available in the future, or otherwise.

The following risks related to our business, among others, could cause actual results to differ materially from those described in the forward-looking statements:

•unfavorable general economic and market conditions, including the potential impact of inflationary pressures;

•our ability to take advantage of growth opportunities and develop and commercialize new solutions and enhance existing solutions;

•reductions in demand in the capital equipment market or reductions in the demand for, or adoption of, our solutions, systems, or services;

•our ability to successfully achieve anticipated growth targets or market adoption;

•delays in installations of our medication management solutions or our more complex medication packaging systems, or in the timing of purchasing decisions;

•delays, technical challenges and unexpected or greater than anticipated expenses associated with developing new products and services or failing to achieve technological or economic feasibility, obtain regulatory approval or gain market acceptance resulting in stopping the development of, or the continued offering of, a product or service;

•periods of significant volatility due to geopolitical developments;

•credit, collection, and operational challenges from providing lease financing options to our customers;

•disruptions to our information technology systems and breaches of data security or cyber-attacks on our systems or solutions;

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•incorporating artificial intelligence (“AI”) technology into our products, services and processes, and the use of AI by our vendors and competitors;

•failing to maintain expected service levels when providing our SaaS and Expert Services or retaining our SaaS and Expert Services customers;

•meeting the demands of, or maintaining relationships with, GPOs, institutional, retail, and specialty pharmacy customers;

•inability to secure or maintain access to existing and future specialty drugs or pharmacy provider networks for our specialty pharmacy customers;

•continued and increased competition from current and future competitors in the hospital and health system solutions and outpatient pharmacy solutions markets;

•selling more products and services on a subscription basis;

•availability and sources of raw materials and components, in particular with regard to semiconductor chips, price fluctuations and an inability to pass increased costs on to our customers, or shortages or interruptions of supply;

•dependence on a limited number of suppliers for certain components, equipment, and raw materials, as well as technologies provided by third-party vendors;

•our substantial debt obligations;

•effectiveness of business continuity plans during any future cybersecurity incidents;

•our ability to acquire companies, businesses, or technologies and successfully integrate such acquisitions;

•failure to realize the potential benefits of acquired businesses, or impaired goodwill or other intangible assets in connection with prior acquisitions;

•government regulations, legislative changes, fraud and anti-kickback statutes, products liability claims, the outcome of legal proceedings, and other legal obligations related to healthcare, privacy, data protection, and information security, and the costs of compliance with, and potential liability associated with, our actual or perceived failure to comply with such obligations;

•changes to the 340B Program;

•operating in foreign countries and risks relating to our international supply chain, including the potential impact of political unrest, terrorism, other potential hostilities, threats of terrorism or potential hostilities, or tariffs;

•covenants in our credit agreement could restrict our business and operations;

•financial institution and money market fund concentration;

•climate change, legal, regulatory or market measures to address climate change and a focus on ESG matters by various stakeholders;

•catastrophic events may disrupt our business;

•recruiting and retaining skilled and motivated personnel;

•protecting our intellectual property;

•investments in new business strategies or initiatives;

•intellectual property infringement or product liability claims against us;

•fluctuations in quarterly and annual operating results;

•failing to meet (or significantly exceeding) our publicly announced financial guidance; and

•other factors set forth under “Risk Factors.”

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Other Information

All references in this Quarterly Report on Form 10-Q to “Omnicell,” “our,” “us,” “we,” or “the Company” collectively refer to Omnicell, Inc., a Delaware corporation, and its subsidiaries. The term “Omnicell, Inc.” refers only to Omnicell, Inc., excluding its subsidiaries.

We own various registered and unregistered trademarks and service marks used in our business, some of which appear in this Quarterly Report on Form 10-Q, including Omnicell®. This Quarterly Report on Form 10-Q may also include the trademarks and service marks of other companies. Such trademarks and service marks are the marks of their respective owners.

OVERVIEW

Our Business

Omnicell, a leading healthcare technology provider focused on empowering autonomous medication management, is committed to solving the critical challenges inherent in medication management and elevating the role of clinicians within healthcare as an essential component of care delivery. Omnicell is focused on helping its customers define and deliver a cost-effective medication management strategy designed to equip and empower pharmacists and nurses to focus on patient care rather than administrative tasks, and to drive improved clinical, operational, and financial outcomes across all care settings. We are doing this with an industry-leading medication management infrastructure which includes storage and dispensing automation powered by an intelligence ecosystem. Our comprehensive set of solutions provides the critical foundation for customers to realize the Autonomous Pharmacy, an industry-wide vision defined by pharmacy leaders for improving operational efficiencies and ultimately targeting zero-error medication management alongside 5 other outcomes laid out in the Autonomous Pharmacy framework.

Omnicell solutions are helping healthcare facilities worldwide to uncover cost savings, improve labor efficiency, establish new revenue streams, enhance supply chain control, support compliance, and move closer to the industry-defined vision of the Autonomous Pharmacy. We sell our hardware, software, and consumable solutions together with related service offerings. Revenues generated in the United States represented 90% and 91% of our total revenues for the three months ended June 30, 2026 and 2025, respectively, and 90% and 92% of our total revenues for the six months ended June 30, 2026 and 2025, respectively.

Our business has expanded from a single-point solution to a platform of products and services that will help further advance the industry-defined vision of the Autonomous Pharmacy. This expansion has resulted in larger deal sizes across multiple products, services, and implementations for customers and, we believe, more comprehensive, valuable, and enduring relationships. As our business evolves, we continue to evaluate the metrics and methods we use to measure the success of our business.

Global Trade Relations

In recent years, the U.S. government has advocated for, and in certain cases implemented, greater restrictions on trade. For example, in 2025 and 2026, the U.S. imposed or announced tariffs and other trade measures on a wide variety of products manufactured in multiple foreign jurisdictions, including China, Mexico, and Malaysia, and several foreign countries have imposed or threatened reciprocal tariffs on goods manufactured in the United States. These tariff rates have fluctuated and may continue to fluctuate going forward. In an effort to address these actions, we have implemented various mitigation measures, including dual-sourcing of components and nearshoring manufacturing. While these actions have effectively mitigated some of the impact of these costs, there can be no assurance that we will be able to offset future increased costs or other adverse impacts. Although we continue to work to mitigate the impact of current or potential tariffs, we may incorrectly anticipate outcomes, forgo or pass up business opportunities, or fail to appropriately adapt or manage our business strategies in response to these changes. As a result of these factors, we may experience direct and indirect adverse effects on our business, operating results, cash flow, or financial condition.

On February 20, 2026, the U.S. Supreme Court struck down certain tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”). Subsequent to this ruling the U.S. Court of International Trade issued an order that directed the U.S. Customs and Border Protection (“CBP”) to formalize a process for refunding IEEPA tariffs. On Apri

[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/926326/000092632626000006/omcl-20251231.htm
Complete FY 2025 MD&A: /company/OMCL/mda/fy2025/

Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary. Published MD&A gate trimmed front/tail over-capture.
Confidence: high
Filing date: 2026-02-26
Report date: 2025-12-31

ITEM 7.    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis should be read in conjunction with our Consolidated Financial Statements and related Notes to Consolidated Financial Statements in this Annual Report on Form 10-K. This discussion and analysis may contain forward-looking statements based upon our current expectations and assumptions that involve risks and uncertainties. Our actual results and the timing of selected events could differ materially from those anticipated in these forward-looking statements as a result of several factors, including those set forth under Item 1A, “Risk Factors,” and elsewhere in this Annual Report on Form 10-K. Unless otherwise stated, references in this Annual Report to particular years or quarters refer to our fiscal year and the associated quarters of those fiscal years.

We have elected to omit discussion of the earliest of the three years covered by the Consolidated Financial Statements presented. Such omitted discussion can be found under Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” located in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 27, 2025, for reference to discussion of the fiscal year ended December 31, 2023, the earliest of the three fiscal years presented.

OVERVIEW

Our Business

Omnicell, a leading healthcare technology provider focused on empowering autonomous medication management, is committed to solving the critical challenges inherent in medication management and elevating the role of clinicians within healthcare as an essential component of care delivery. Omnicell is focused on helping its customers define and deliver a cost-effective medication management strategy designed to equip and empower pharmacists and nurses to focus on patient care rather than administrative tasks, and to drive improved clinical, operational, and financial outcomes across all care settings. We are doing this with an industry-leading medication management infrastructure which includes storage and dispensing automation powered by an intelligence ecosystem. Our comprehensive set of solutions provides the critical foundation for customers to realize the Autonomous Pharmacy, an industry-wide vision defined by pharmacy leaders for improving operational efficiencies and ultimately targeting zero-error medication management alongside 5 other outcomes laid out in the Autonomous Pharmacy framework.

Omnicell solutions are helping healthcare facilities worldwide to uncover cost savings, improve labor efficiency, establish new revenue streams, enhance supply chain control, support compliance, and move closer to the industry-defined vision of the Autonomous Pharmacy. We sell our hardware, software, and consumable solutions together with related service offerings. Revenues generated in the United States represented 90% of our total revenues for the year ended December 31, 2025.

Our business has expanded from a single-point solution to a platform of products and services that will help further advance the industry-defined vision of the Autonomous Pharmacy. This expansion has resulted in larger deal sizes across multiple products, services, and implementations for customers and, we believe, more comprehensive, valuable, and enduring relationships. As our business evolves, we continue to evaluate the metrics and methods we use to measure the success of our business.

Global Trade Relations

In recent years, the U.S. government has advocated for greater restrictions on trade generally. For example, in 2025, the U.S. imposed tariffs on a wide variety of products manufactured in multiple foreign jurisdictions, including China, Mexico, and Malaysia. In response to the ongoing changes in tariffs, several foreign countries have imposed reciprocal tariffs on goods manufactured in the United States. These tariff rates have fluctuated and may continue to fluctuate going forward. In an effort to address these actions, we have implemented various mitigation measures, including dual-sourcing of components and nearshoring manufacturing. While these actions have effectively mitigated some of the impact of these costs, there can be no assurance that we will be able to offset future increased costs or other adverse impacts. Although we continue to work to mitigate the impact of current or potential tariffs, we may incorrectly anticipate outcomes, forgo or pass up business opportunities, or fail to appropriately adapt or manage our business strategies in response to these changes. As a result of these factors, we may experience direct and indirect adverse effects on our business, operating results, cash flow, or financial condition.

In addition, on February 20, 2026, the U.S. Supreme Court struck down certain tariffs imposed under the International Emergency Powers Act. It is unclear at this time what impact this decision will have on our business or future operating results, including whether we will be able to obtain refunds of amounts previously collected for such tariffs or the level of replacement tariffs the current U.S. Administration may impose through other means.

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Product Bookings and Annual Recurring Revenue

We utilize product bookings and Annual Recurring Revenue (“ARR”), each as further described below, as key performance metrics for our business. We view product bookings as an indicator of the success of certain portions of our business that generate nonrecurring revenue and we view ARR as an indicator of the success of the portions of our business that generate recurring revenues. The definitions and descriptions included below are relevant to these key performance metrics.

Product Bookings

We utilize product bookings as an indicator of the success of certain portions of our business that generate non-recurring revenue. We define product bookings generally as the value of non-cancelable contracts for our connected devices and software licenses. We typically exclude freight revenue and other less significant items ancillary to our products from product bookings. In addition, dependent upon counterparty or credit risk, which is evaluated at the time of contract signing, for a given multi-year subscription contract we may reduce the value of the contractual commitment booked at a given time. Connected devices and software license bookings are recorded as revenue upon customer acceptance of the installation or receipt of goods. As part of most connected device product sales, we generally provide installation planning and consulting, which is typically included in the initial price of the solution. Product bookings were $535 million and $558 million during the years ended December 31, 2025 and 2024, respectively.

Annual Recurring Revenue

We consider revenues generated from our consumables, technical services, and SaaS and Expert Services to be recurring revenues. For the portions of our business which generate recurring revenues, we utilize ARR as a key metric to measure our progress in growing our recurring revenue business. We define ARR at a measurement date as the revenue we expect to receive from our customers over the course of the following year for providing them with products or services. ARR includes expected revenue from all customers who are using our products or services at the reported date. For technical services and SaaS and Expert Services, solutions are generally on a contractual basis, typically with contracts for a period of 12 months or more, with a high probability of renewal. Probability of renewal is based on historic renewal experience of the individual revenue streams or management’s best estimates if historical renewal experience is not available. Consumables orders are placed by customers through our Omnicell Storefront online platform or through written or telephonic orders and are sold to a customer base who utilize the consumable product and place recurring orders when customer inventory is depleted. ARR is generally calculated based on revenues received in the most recent quarter and changes to expected revenues where solutions were added to or removed from the install or customer base in the quarter. Revenues from technical services and SaaS and Expert Services are generally recorded ratably over the service term. As part of our SaaS and Expert Services offerings, we provide a range of services to our customers including Central Pharmacy Dispensing Service (service portion), IV Compounding Service (service portion), EnlivenHealth, Specialty Pharmacy Services, 340B solutions, Inventory Optimization Service, and other software solutions, which typically are provided over two to seven years. In addition, to help ensure the maximum availability of our systems, our customers typically purchase technical services contracts (support and maintenance) in increments of one to five years. Revenue from consumables are recorded when the product has shipped and title has passed. Our measure of ARR may be different than that used by other companies. Because ARR is based on expected future revenue, it does not represent revenue recognized during a particular reporting period or revenue to be recognized in future reporting

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periods. ARR should not be viewed as a substitute for revenues. ARR was $636 million and $580 million as of December 31, 2025 and 2024, respectively.

The following table summarizes each revenue category:

[[GREPCENT_TABLE]]
[["Revenue Category","","Revenue Type","","Income Statement Classification","","Included in Product Bookings","","Included in ARR"],["Connected devices, software licenses, and other","","Nonrecurring","","Product","","Yes (1)","","No"],["Consumables","","Recurring","","Product","","No","","Yes"],["Technical services","","Recurring","","Service","","No","","Yes"],["SaaS and Expert Services (2)","","Recurring","","Service","","No","","Yes"]]
[[/GREPCENT_TABLE]]
_________________________________________________

(1)    Certain other insignificant revenue streams ancillary to our products and services, such as freight revenue, are not included in bookings.

(2)    Includes Central Pharmacy Dispensing Service (service portion), IV Compounding Service (service portion), EnlivenHealth, Specialty Pharmacy Services, 340B solutions, Inventory Optimization Service, and other software solutions.

Operating Segments

We manage our operations as a single segment for the purposes of assessing performance and making operating decisions. Our Chief Operating Decision Maker (“CODM”) is our Chief Executive Officer. The CODM allocates resources and evaluates the performance of Omnicell at the consolidated level using our consolidated net income (loss). In addition, the CODM is provided with certain segment assets and liabilities, primarily those that impact liquidity, as well as certain significant expenses. All significant operating decisions are based upon an analysis of Omnicell as one operating segment, which is the same as our reporting segment.

Our full-time employee headcount was approximately 3,580 on December 31, 2025.

Business Strategy

In 2024, the United States spent $806 billion on prescription drugs, a 10.2% increase from 2023. We believe there are significant challenges facing the practice of pharmacy today. These challenges include, but are not limited to, budget constraints and acute workforce shortages, where 88% of hospitals report technician deficits and 92% lack sufficient sterile compounding expertise. In addition, health systems face rising liability related to drug diversion, with a 61% increase in the average number of investigations per hospital since the beginning of 2023. We also recognize that these challenges may impact the timing of contracting for, or implementation of, our products, solutions, or services. However, we believe that over time these

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2025 MD&A: /company/OMCL/mda/fy2025/
All MD&A years: /company/OMCL/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2024 MD&A](/company/OMCL/mda/fy2024/): filed 2025-02-27; accession 0000926326-25-000003 (https://www.sec.gov/Archives/edgar/data/926326/000092632625000003/omcl-20241231.htm)
- [FY 2023 MD&A](/company/OMCL/mda/fy2023/): filed 2024-02-28; accession 0000926326-24-000008 (https://www.sec.gov/Archives/edgar/data/926326/000092632624000008/omcl-20231231.htm)
- [FY 2022 MD&A](/company/OMCL/mda/fy2022/): filed 2023-03-01; accession 0000926326-23-000003 (https://www.sec.gov/Archives/edgar/data/926326/000092632623000003/omcl-20221231.htm)
- [FY 2021 MD&A](/company/OMCL/mda/fy2021/): filed 2022-02-25; accession 0000926326-22-000007 (https://www.sec.gov/Archives/edgar/data/926326/000092632622000007/omcl-20211231.htm)




## Macro cross-references

Indicators mapped to this company's SIC classification (industry 3571 Electronic Computers) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

- [INDPRO](/indicator/INDPRO/): Industrial Production: Total Index
- [TCU](/indicator/TCU/): Capacity Utilization: Total Index
- [PPIACO](/indicator/PPIACO/): Producer Price Index by Commodity: All Commodities
- [GDPC1](/indicator/GDPC1/): Real Gross Domestic Product
- [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity
- [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate
- [CES0500000003](/indicator/CES0500000003/): Average Hourly Earnings of All Employees, Total Private
- [PAYEMS](/indicator/PAYEMS/): All Employees, Total Nonfarm

Macro-to-micro threads including this sector: [Inflation (CPI / PCE / PPI)](/thread/inflation-cpi-pce-ppi/), [US labor market](/thread/us-labor-market/), [Growth & output](/thread/growth-output/), [Money & trade](/thread/money-trade/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/), [Industrial orders & inventories](/thread/industrial-orders/), [Trade & external](/thread/trade-external/).

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/OMCL.md · JSON record: /company/OMCL.json · verified financials: /company/OMCL/financials.json / /company/OMCL/financials.csv · machine TOC for the whole site: /llms.txt