Omnicell's Q4 Earnings In Line With Expectations, Issues Mixed FY22 Guidance

Omnicell Inc's OMCL Q4 sales increased 25% Y/Y to $311.0 million, compared to the consensus of $311 million. 

• The increase reflects strong demand for Omnicell's medication management adherence automation solutions and the contribution of revenues from the acquisition of RxInnovation Inc, operating as FDS Amplicare.
• The company posted an adjusted EPS of $0.92 in line with the consensus.
• Adjusted EBITDA was $52.0 million, compared to $51.6 million in Q4 FY20.
• Total product bookings for FY21 increased 21% to $1.217 billion. The product backlog was $1.254 billion, an increase of 36% Y/Y.
• The long-term portion of the product backlog was $439 million.
• During Q4 of 2021, Omnicell acquired MarkeTouch Media, a pharmacy software solutions provider, and ReCept Holdings Inc, a specialty pharmacy management services provider. 
• Guidance: For FY22, Omnicell expects product bookings of $1.370 billion - $1.430 billion. 
• The company expects FY22 revenues of $1.385 billion - $1.410 billion versus the consensus of $1.3 billion.
• Sales guidance includes product revenues of $950 million - $965 million and service revenues of $435 million - $445 million. 
• Omnicell forecasts adjusted EBITDA of $243 million - $255 million and adjusted EPS of $3.75 - $3.95, below the consensus of $4.01.
• For Q1 FY22, the company expects revenues of $312 million - $318 million, versus the consensus of $301.38 million.
• The company expects Q1 FY22 adjusted EBITDA of $45 million - $49 million and adjusted EPS of $0.65 - $0.72, lower than the consensus of $0.86.
• Price Action: OMCL shares closed lower by 4.40% at $147.60 on Monday.