Omnicell Inc (OMCL) 2024 Q1 法說會逐字稿

Good morning, ladies and gentlemen. My name is John, and I'll be your conference operator for today. Please note that today's call is being recorded. (Operator Instructions) I will now turn the call over to Kathleen Nemeth, Senior Vice President, Investor Relations. Please go ahead.

早安，女士們，先生們。我叫約翰，今天我將擔任你們的會議操作員。請注意，今天的通話正在錄音。（操作員指示）我現在將電話轉給投資者關係高級副總裁 Kathleen Nemeth。請繼續。

Good morning, and welcome to the Omnicell first quarter 2024 financial results conference call. On the call with me today are Randall Lipps, Omnicell's Chairman, President CEO and Founder, and Nchacha Etta, Executive Vice President and Chief Financial Officer.

早安，歡迎參加 Omnicell 2024 年第一季財務業績電話會議。今天與我通話的有 Omnicell 董事長、總裁兼執行長兼創辦人 Randall Lipps 以及執行副總裁兼財務長 Nchacha Etta。

This call will contain forward-looking statements, including statements related to financial projections or other statements regarding Omnicell's plans, strategy, objectives, goals, expectations, products or solutions actions to streamline our international product line, holistic review of the business or market or company outlook that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. For a more detailed description of the risks that impact these forward-looking statements, please refer to the information in our press release issued today in the Omnicell annual report on Form 10 K filed with the SEC on February 28th, 2024, and in other more recent reports filed with the SEC. Please be aware that you should not place undue reliance on any forward-looking statements made today.

本次電話會議將包含前瞻性陳述，包括與財務預測相關的陳述或與Omnicell 的計劃、策略、目的、目標、期望、產品或解決方案行動有關的其他陳述，以簡化我們的國際產品線、對業務、市場或公司的整體審查前景受到風險、不確定性和其他因素的影響，這些因素可能導致實際結果與明示或暗示的結果有重大差異。有關影響這些前瞻性陳述的風險的更詳細描述，請參閱我們今天發布的新聞稿中的信息，該新聞稿載於 2024 年 2 月 28 日向 SEC 提交的 Omnicell 表格 10 K 年度報告以及其他更多信息最近向SEC 提交的報告。請注意，您不應過度依賴今天發表的任何前瞻性陳述。

All forward-looking statements speak only as of the date hereof or as of the date specified on the call. Except as required by law, we do not assume any obligation to update or otherwise release publicly any revisions to our forward-looking statements. Our first quarter results were released this morning and are posted in the Investor Relations section of our website at ir dot Omnicell.com. Additionally, we would like to remind you that during this call, we will discuss some non-GAAP financial measures.

所有前瞻性陳述僅代表截至本新聞稿發布之日或電話會議指定日期的情況。除法律要求外，我們不承擔更新或以其他方式公開發布對我們的前瞻性陳述的任何修訂的義務。我們的第一季業績於今天上午發布，並發佈在我們網站 ir dot Omnicell.com 的投資者關係部分。此外，我們想提醒您，在本次電話會議中，我們將討論一些非 GAAP 財務指標。

Reconciliations of these non-GAAP measures to the most comparable GAAP financial measures are included in our financial results press release posted with respect to forward-looking non-GAAP measures. We do not provide a reconciliation of these measures to the comparable GAAP measures as these items are inherently uncertain and difficult to estimate and cannot be predicted on a GAAP basis without unreasonable effort.

這些非公認會計準則衡量指標與最具可比性的公認會計準則財務衡量指標的對帳已包含在我們發布的有關前瞻性非公認會計準則衡量指標的財務績效新聞稿中。我們不提供這些指標與可比較的公認會計原則指標的調節表，因為這些項目本質上是不確定的，難以估計，並且如果不付出不合理的努力，就無法根據公認會計原則進行預測。

With that, I will turn the call over to Randall. Randall.

這樣，我會將電話轉給蘭德爾。蘭德爾.

Thank you, Kathleen, and good morning, and thank you for joining us on the call today, I will walk through our solid financial performance for the first quarter of 2024 and provide an update on the current demand environment and our successful eliminate 2024 customer event.

謝謝凱瑟琳，早安，感謝您今天加入我們的電話會議，我將介紹我們 2024 年第一季穩健的財務業績，並提供有關當前需求環境和我們成功消除 2024 年客戶活動的最新資訊。

Beginning with our results, our first quarter of 2024 came in above our previously announced guidance on several key metrics. Total revenues were $246 million. Total revenues in the quarter were $4 million above the top end of our guidance range, primarily due to solid execution and timing within both technical services and advanced services. Non-gaap gross margin for Q1 was 39.8%, a decrease of 380 basis points from the prior quarter, primarily due to lower revenue volume leverage.

從我們的業績開始，我們 2024 年第一季的幾個關鍵指標都超出了我們先前宣布的指導值。總收入為 2.46 億美元。本季的總收入比我們指導範圍的上限高出 400 萬美元，這主要歸功於技術服務和高級服務的可靠執行和時機。第一季的非 GAAP 毛利率為 39.8%，較上一季下降 380 個基點，主要是由於營收槓桿率下降。

Our first quarter 2024 non-GAAP earnings per share were $0.03. First quarter non-GAAP EBITDA was $11 million. First Quarter 2024 non-GAAP EBITDA and non-GAAP earnings per share exceeded our outlook due to the better than expected revenue as well as strong cost and operating expense management.

我們 2024 年第一季的非 GAAP 每股收益為 0.03 美元。第一季非 GAAP EBITDA 為 1,100 萬美元。由於收入優於預期以及強有力的成本和營運費用管理，2024 年第一季非 GAAP EBITDA 和非 GAAP 每股收益超出了我們的預期。

Since our last earnings update, we had retained an external management consultant to conduct a holistic review of our business with the aim of streamlining our operations and unlocking shareholder value. Today, we announced our intention to exit one international product line, which was not delivering sufficient returns on our investments. This action was already under active consideration prior to hiring the external consultants. While this was a first small step, we are indeed moving forward with determination and urgency.

自上次收益更新以來，我們聘請了一位外部管理顧問對我們的業務進行全面審查，旨在簡化我們的營運並釋放股東價值。今天，我們宣布打算退出一條國際產品線，該產品線未能為我們的投資帶來足夠的回報。在聘請外部顧問之前，我們已經在積極考慮這項行動。雖然這只是第一步，但我們確實正在堅定而緊迫地向前邁進。

Now let's turn to the current macro environment and industry landscape. As we move into 2024, there are some reports pointing to encouraging signs that health system finances are beginning to stabilize. Hospital finances reflect a strong start to 2024 with calendar year to date operating margins approaching 5%, primarily due to accelerating outpatient revenues, lower contract labor spending and lower average length of stay. At the same time, the interest rate environment remains challenging with forecasts for rate reductions unpredictable, and we continue to see areas of the customer base that are still facing budgetary constraints.

現在我們來看看當前的宏觀環境和產業格局。隨著我們進入 2024 年，一些報告指出了令人鼓舞的跡象，表明衛生系統財務開始穩定。醫院財務狀況反映了 2024 年的強勁開局，歷年迄今的營業利潤率接近 5%，這主要是由於門診收入增加、合約勞動力支出減少和平均住院時間縮短。同時，利率環境仍充滿挑戰，降息預測難以預測，我們繼續看到部分客戶群仍面臨預算限制。

Therefore, we are continuing to take what we believe is a prudent and cautious approach to our business planning and management we have begun to see market traction for some of our initial XT. Amplify program offerings and 500 plus bed academic medical center in Massachusetts is a new customer for Omnicell and is converting its automated dispensing system footprint to equity amplified cabinets. Our Care Plus solution, which is designed to improve solution adoption and provide data-driven performance optimization information supported by expert services was identified by the customer as a pivotal differentiator that create unique value for their purchase decision.

因此，我們將繼續對我們的業務規劃和管理採取我們認為審慎和謹慎的方法，我們已經開始看到我們的一些初始 XT 的市場吸引力。馬薩諸塞州的 Amplify 計畫產品和擁有 500 多個床位的學術醫療中心是 Omnicell 的新客戶，正在將其自動分配系統佔地面積轉換為股權放大櫃。我們的 Care Plus 解決方案旨在提高解決方案的採用率，並提供由專家服務支援的數據驅動的性能優化信息，被客戶認為是為其購買決策創造獨特價值的關鍵差異化因素。

And as part of a six year extension of a sole source agreement, at Kansas based health system seeking to maximize the value of their XT. technology through fixed fee, extend a comprehensive console swap designed to improve a high level of security while enhancing the user experience. Health systems across the country continue to recognize the value of Omnicell's advanced services offering that is designed to help transform pharmacy care.

作為獨家來源協議延長六年的一部分，堪薩斯州的衛生系統尋求最大限度地發揮 XT 的價值。透過固定費用技術，擴展全面的控制台交換旨在提高高水準的安全性，同時增強使用者體驗。全國各地的衛生系統繼續認識到 Omnicell 旨在幫助轉變藥房護理的先進服務產品的價值。

In addition to adopting our central pharmacy dispensing services, a large Southern California hospital plans to leverage our IV compounding service in an effort to provide more accurate, safe and cost-effective sterile compounding our customer base for specialty pharmacy services now exceeds 400 hospitals and clinics were excited to announce the opening of a new location at Good Samaritan Hospital in Indiana. We've cited Omnicell's experience and expertise in specialty pharmacy program management as key to their decision to partner with us, we expect our customer base to include an additional seven pharmacies to open in second quarter 2024.

除了採用我們的中央藥房配藥服務外，南加州一家大型醫院還計劃利用我們的靜脈注射配藥服務，以提供更準確、安全和更具成本效益的無菌配藥。超過400 家醫院和診所我們很高興地宣佈在印第安納州好撒瑪利亞人醫院開設新地點。我們將 Omnicell 在專業藥局專案管理方面的經驗和專業知識視為他們決定與我們合作的關鍵，我們預計我們的客戶群將包括將於 2024 年第二季開業的另外 7 家藥局。

We believe the combination of Omnicell's 340 BTPA with our specialty pharmacy services program management offering is delivering growth opportunities for our customers. Our Life & Health brand had a strong first quarter 2024 with a large buying cooperative choosing Enlivant analytics solution as it works to transform its complex pharmacy data into actionable insights and outcomes focused on patient care and operational efficiency. We had multiple other wins in the quarter as well.

我們相信 Omnicell 的 340 BTPA 與我們的專業藥局服務專案管理產品的結合將為我們的客戶帶來成長機會。我們的生命與健康品牌在2024 年第一季表現強勁，一家大型採購合作社選擇了Enlivant 分析解決方案，因為該公司致力於將其複雜的藥房數據轉化為可操作的見解和結果，重點關注患者護理和營運效率。我們在本季度還取得了許多其他勝利。

On April 16, we announced XT. Amplify innovative program intended to enhance pharmacy and nursing efficiency reduce medication errors and waste and ultimately maximize the value of the XT automated dispensing system investments. We introduced the first set of solutions in this multiyear program as part of our virtual eliminate 2024 customer event where health care and pharmacy leaders had the opportunity to learn about the potential benefits of XT. Amplify. We were joined by Jennifer Hellmann Executive Director of Pharmacy at San Antonio based University Health, who recently completed the next T conversion project and shared her successful experience with attendees.

4 月 16 日，我們發布了 XT。擴大旨在提高藥房和護理效率的創新計劃，減少用藥錯誤和浪費，並最終最大限度地提高 XT 自動配藥系統投資的價值。作為虛擬消除 2024 客戶活動的一部分，我們在此多年計劃中推出了第一套解決方案，醫療保健和製藥行業領導者有機會了解 XT 的潛在優勢。放大。聖安東尼奧大學健康中心藥房執行總監 Jennifer Hellmann 也加入了我們的行列，她最近完成了下一個 T 轉換項目，並向與會者分享了她的成功經驗。

While it's early, we assure you that ex T Amplify is intended to be just the beginning of our reinvigorated focus on new products and services, which we expect to bode well for long-term growth. I hope that you can see that we are taking the necessary steps that we believe will strengthen our financial and operational performance, accelerate profitable growth and drive shareholder value. We remain confident in Omnicell's long-term opportunities and continue to believe the Company is uniquely positioned to transform the pharmacy care delivery model and ultimately help enable our customers drive better outcomes and increase their returns on investments now. With that, I'd like to hand it over to Nchacha to discuss our results such. Nchacha?

雖然現在還為時過早，但我們向您保證，ex T Amplify 只是我們重新專注於新產品和服務的開始，我們預計這將是長期成長的好兆頭。我希望您能看到我們正在採取必要的措施，我們相信這些措施將增強我們的財務和營運績效，加速獲利成長並提高股東價值。我們對 Omnicell 的長期機會仍然充滿信心，並繼續相信該公司具有獨特的優勢，能夠轉變藥房護理服務模式，並最終幫助我們的客戶實現更好的結果並增加他們現在的投資回報。至此，我想將其交給 Nchacha 來討論我們的結果。尼查查？

Thank you, Randall. I wanted to thank all of our employees for delivering the results this quarter, we exceeded our guidance across all key metrics, delivered strong cash flow and manage our expenses carefully and responsibly. While we still have work to do to strengthen our financial and operational performance. We are off to a good start, and I am pleased with the level of commitment and engagement I see across our company.

謝謝你，蘭德爾。我要感謝我們所有員工在本季度取得的業績，我們在所有關鍵指標上都超出了我們的指導，提供了強勁的現金流，並認真負責地管理我們的費用。但我們仍有工作要做，以加強我們的財務和營運績效。我們有了一個良好的開端，我對整個公司的承諾和參與程度感到滿意。

Turning to our financial results. Our first quarter 2024. Total GAAP revenues were $246 million, a decrease of $13 million over the prior quarter and a decrease of $45 million compared to first quarter of 2023. The year-over-year decrease reflects the impact of a continued challenging environment for some of our health system customers and the timing of our XT product life cycle. Services revenue were $113 million, an increase of 8% over the first quarter of 2023, which was primarily driven by growth in technical services as we continue to see the benefits from the growing installed base and pricing actions.

轉向我們的財務表現。我們的 2024 年第一季。GAAP 總收入為 2.46 億美元，比上一季減少 1,300 萬美元，比 2023 年第一季減少 4,500 萬美元。年比下降反映了持續充滿挑戰的環境對我們的一些醫療系統客戶的影響以及我們 XT 產品生命週期的時間安排。服務收入為 1.13 億美元，比 2023 年第一季成長 8%，這主要是由技術服務成長推動的，因為我們繼續看到不斷增長的安裝基礎和定價行動帶來的好處。

Total revenues in the first quarter were $4 million above the top end of our previously disclosed first quarter 2024 guidance range, which was primarily due to solid execution and timing within both technical services and our advanced services. Non-gaap gross margin for the first quarter 2024 was 39.8%, a decrease of 380 basis points compared to the prior quarter, primarily due to lower revenue volume leverage. We expect our non-GAAP gross margin to expand in the second half of 2024 as we anticipate volume leverage from higher product revenue. A full reconciliation of our GAAP to non-GAAP results is included in each of our first quarter 2024 and fourth quarter 2023 earnings press releases, which are posted on our Investor Relations website.

第一季的總收入比我們先前揭露的 2024 年第一季指導範圍的上限高出 400 萬美元，這主要歸功於技術服務和高級服務的可靠執行和時機。2024 年第一季的非 GAAP 毛利率為 39.8%，較上一季下降 380 個基點，主要是由於營收槓桿率下降。我們預計我們的非 GAAP 毛利率將在 2024 年下半年擴大，因為我們預計更高的產品收入將帶來銷售槓桿。我們的 GAAP 與非 GAAP 業績的完整調節包含在我們的 2024 年第一季和 2023 年第四季收益新聞稿中，這些新聞稿發佈在我們的投資者關係網站上。

Our first quarter 2024 earnings per share in accordance with GAAP was a loss of $0.34 per share compared to a loss of $0.32 per share in the prior quarter and a loss of $0.33 per share in the first quarter of 2023. Our first quarter 2024 GAAP earnings per share includes the impact of $3 million for the potential wind-down of the Medi mass robotic dispensing system product line we announced today subject to local law and statutory works council consultation requirements. If the wind-down proceeds.

根據 GAAP，我們 2024 年第一季的每股盈餘為每股虧損 0.34 美元，而上一季每股虧損 0.32 美元，2023 年第一季每股虧損 0.33 美元。我們的 2024 年第一季 GAAP 每股收益包括我們今天宣布的 Medi 大規模機器人配藥系統產品線可能逐步縮減的 300 萬美元的影響，具體取決於當地法律和法定工作委員會的諮詢要求。如果結束繼續進行。

The total non-recurring costs we estimate to incur related to the wind down approximately $15 million to $20 million, of which we have already incurred approximately $5 million. If the wind down is agreed to the Algiers restructuring plan is expected to increase our annualized net operating profit, and we plan to incorporate this expectation in our full year 2025 guidance. We do not expect the out the as restructuring plans will have a significant impact on our revenue, and we do not expect to achieve significant cost operating expense savings related to the restructuring in 2024.

我們估計因停產而產生的非經常性成本總額約為 1500 萬至 2000 萬美元，其中我們已經產生了約 500 萬美元。如果阿爾及爾重組計劃的逐步結束預計將增加我們的年化淨利潤，我們計劃將這一預期納入我們的 2025 年全年指導中。我們預計重組計劃不會對我們的收入產生重大影響，我們預計 2024 年不會實現與重組相關的大量成本營運費用節省。

Our first quarter 2024 non-GAAP earnings per share were $0.03 compared to $0.33 per share in the prior quarter and $0.39 per share in the same period last year. Third quarter non-GAAP EBITDA was $11 million, a decrease of $13 million compared to the previous quarter and a decrease of $16 million when compared to the same period last year.

我們 2024 年第一季的非 GAAP 每股收益為 0.03 美元，而上一季的每股收益為 0.33 美元，去年同期的每股收益為 0.39 美元。第三季非公認會計準則 EBITDA 為 1,100 萬美元，較上一季減少 1,300 萬美元，比去年同期減少 1,600 萬美元。

Third quarter 2024 non-GAAP EBITDA and non-GAAP earnings per share exceeded our expectations, primarily due to revenue execution and timing as well as strong cost and operating expense management as we continue to take what we believe is a prudent approach with our investment decisions, the benefits from our higher revenue and lower expenses were partially offset by higher than expected income tax expense.

2024 年第三季非 GAAP EBITDA 和非 GAAP 每股盈餘超出了我們的預期，這主要是由於收入執行和時間表以及強有力的成本和營運費用管理，因為我們繼續採取我們認為審慎的投資決策方法，我們收入增加和費用減少帶來的好處被高於預期的所得稅費用部分抵消。

The higher first quarter income tax expense was the result of timing within the year, and we continue to expect our 2024 non-GAAP effective blended tax rate to be approximately 19% at the end of the first quarter of 2024, our cash and cash equivalent balance was $512 million, up from $468 million as of December 31st, 2023. Non-gaap free cash flow during the first quarter of 2024 was $38 million as we continue to see strong cash collections on working capital management.

第一季所得稅費用較高是年內時間安排的結果，我們繼續預期 2024 年第一季末我們的 2024 年非 GAAP 有效混合稅率約為 19%，我們的現金和現金等價物截至2023 年12 月31 日，餘額為5.12 億美元，高於4.68 億美元。2024 年第一季的非 GAAP 自由現金流為 3,800 萬美元，因為我們繼續看到營運資本管理的現金回籠強勁。

In terms of accounts receivable, days sales outstanding for the first quarter of 2024 was 94 days, an increase of four days over the prior quarter, primarily due to the modest decrease in revenues. Inventories as of March 31st, 2024 were $103 million, a decrease of $7 million from the prior quarter and a decrease of $38 million from March 31, 2023. The decrease is primarily due to the strong efforts of our supply chain team as they continue to execute and make progress on our global supply chain process improvements and inventory management initiatives.

應收帳款方面，2024年第一季應收帳款週轉天數為94天，較上季增加4天，主要是由於營收小幅下降。截至 2024 年 3 月 31 日的庫存為 1.03 億美元，比上一季減少 700 萬美元，比 2023 年 3 月 31 日減少 3800 萬美元。這一下降主要是由於我們的供應鏈團隊的大力努力，他們繼續執行我們的全球供應鏈流程改進和庫存管理計劃並取得進展。

For the second quarter of 2024, we are providing the following guidance. We expect total second quarter 2024 revenues to be between $250 million and $260 million, with product revenues to be between $140 million and $145 million, and service revenues to be between $110 million to 115 million. We expect second quarter 2024 non-GAAP EBITDA to be between $14 million and $20 million , and we expect second quarter 2024 and non-GAAP earnings per share to be between $0.1 per share and $0.2 per share.

對於 2024 年第二季度，我們提供以下指引。我們預計 2024 年第二季總營收將在 2.5 億至 2.6 億美元之間，其中產品收入將在 1.4 億至 1.45 億美元之間，服務收入將在 1.1 億至 1.15 億美元之間。我們預計 2024 年第二季非 GAAP EBITDA 將在 1,400 萬美元至 2,000 萬美元之間，我們預計 2024 年第二季非 GAAP 每股收益將在每股 0.1 美元至 0.2 美元之間。

In summary, we are working with a sense of urgency to strengthen our operational and financial performance. We are pleased to have delivered the first of many expected innovations and new capabilities for our fleet of XT medication dispensing systems. And we believe Omnicell is well positioned for the future.

總之，我們正在以緊迫感加強我們的營運和財務績效。我們很高興為我們的 XT 藥物分配系統系列提供了眾多預期創新和新功能中的第一個。我們相信 Omnicell 已為未來做好了充分準備。

With that, we would like to open the call for questions.

至此，我們想開始提問。

(Operator Instructions)

（操作員說明）

Stan Berenshteyn, Wells Fargo.

史丹貝倫斯坦，富國銀行。

Hi, good morning, everybody. Just maybe a question on the XT. extent mid-cycle upgrade. Can you just walk us through how we should think about this? How much of the installed base is expected to be upgraded. What's the timeframe expectation there? And then how many years of life does this upgrade expect to add to the cabinets? Thanks.

嗨，大家早安。也許只是關於 XT 的問題。程度中期升級。您能告訴我們我們應該如何思考這個問題嗎？預計有多少安裝基礎將升級。預計的時間範圍是多少？那麼這次升級預計可以讓機櫃延長多少年的使用壽命呢？謝謝。

Thanks stand level are very excited about the XT. Amplifying is really more than just the console upgrade and there are a multitude of products and services. We just announced that go with the AMPLIFY platform. And as we stated before, we will continue this multiyear journey of expanding the XT Amplify to include more products and services that allow us to get into areas that we don't service today, like ambulatory surgery centers and other areas, the inpatient that don't have good visibility. So it is a multiyear program with multiple products and services that go beyond just a console upgrade. So I think we want to be really careful too, get our customers expecting this innovation to actually solve some problems that we haven't been able to solve.

感謝展位等級對 XT 感到非常興奮。Amplifying 實際上不僅僅是控制台升級，還有多種產品和服務。我們剛剛宣布使用 AMPLIFY 平台。正如我們之前所說，我們將繼續這一多年的旅程，擴大XT Amplify，以納入更多的產品和服務，使我們能夠進入我們目前不服務的領域，例如門診手術中心和其他領域，住院患者不需要能見度不好。因此，這是一個多年計劃，包含多種產品和服務，而不僅僅是控制台升級。所以我認為我們也想非常小心，讓我們的客戶期待這項創新能真正解決一些我們無法解決的問題。

Okay. Can you maybe give us a quick update on the regulatory review of the IVX robots?

好的。您能為我們介紹一下 IVX 機器人監管審查的最新情況嗎？

Are you seeing any resolution on that front?

您在這方面有看到任何決議嗎？

but definitely at the end of last year. There was a final resolution on some of the regulations going forward. So we've now taken that information and melded into our customer interaction and have a more clear determination how to classify each of the robot locations and what set of regulations they're under as they deploy.

但肯定是在去年年底。對未來的一些法規達成了最終決議。因此，我們現在已經將這些資訊融入我們的客戶互動中，並更清楚地確定如何對每個機器人位置進行分類以及它們在部署時遵循哪些法規。

Thank you. And maybe just to backtrack for the first question on for clients that are just doing the console upgrade. So wanted to the upgrade, can you just share with us how much how many more years of life goes to the cabinet gap once they it.

謝謝。也許只是回溯一下剛剛進行控制台升級的客戶的第一個問題。所以想要升級，能否與我們分享一下，一旦升級，櫥櫃的壽命還會延長多少年。

well, it's it's probably customer dependent. But I think to the key is in order to get the next versions of the software and hardware, you eventually have to do the upgrade or to get access to the new product lines you have to do the upgrade. And I think the future of Amplify includes both hardware and software changes, but it isn't really about overly focusing on those piece, but the solutions we're delivering to the market for consumers extend.

嗯，這可能取決於客戶。但我認為關鍵是為了獲得下一個版本的軟體和硬件，你最終必須進行升級，或者要訪問新的產品線，你必須進行升級。我認為 Amplify 的未來包括硬體和軟體的變化，但實際上並不是過度關注這些部分，而是我們向消費者市場提供的解決方案的擴展。

Thank you so much.

太感謝了。

Thanks, Stan

謝謝，史丹

Matt Hewitt, Craig-Hallum.

馬特·休伊特，克雷格·哈勒姆。

Good morning.

早安.

Thank you for taking the questions. First of all, regarding the health of the customers that the in, Randy, was nice to hear that you're starting to see some improvement there. Are you seeing a change in the discussions? Obviously, last year was really tough, but are you hearing from your customers that Okay. We're feeling better with our financial position. We're feeling better about our staffing positions. Now we're ready to come back to the table and we proceed with the plans that we had maybe thought about last year but now we're ready or is it still kind of touch and go and you have the conversation and they're still kind of I don't want to say stand office, but they're holding back a little bit?

感謝您提出問題。首先，關於客戶的健康狀況，蘭迪很高興聽到您開始看到那裡的一些改善。您看到討論改變了嗎？顯然，去年確實很艱難，但是您是否從客戶那裡聽到了這樣的話：好的。我們的財務狀況感覺好多了。我們對我們的人員配置感覺好多了。現在我們已經準備好回到談判桌，我們將繼續執行我們去年可能考慮過的計劃，但現在我們已經準備好了，或者仍然是一種觸碰即走的方式，你可以進行對話，他們仍然在我不想說立場，但他們有點猶豫了？

Well, I think it's really depends on the counter some accounts that just seem to be doing well, but there are many that are not. And there seems to be a lot of sensitivity around capital equipment deployment at these institutions, particularly around inpatient. So I think we're having good discussions. People want these products. It's really about the timing of returning or the health of the capital equipment environment in these accounts. And I would just say they're pretty prudent and cautious about it. But for the long term, I think we're in a good position.

嗯，我認為這實際上取決於櫃檯，有些帳戶似乎表現良好，但也有很多帳戶表現不佳。這些機構的資本設備部署似乎非常敏感，尤其是住院病患。所以我認為我們正在進行良好的討論。人們想要這些產品。這實際上與返回的時間或這些帳戶中資本設備環境的健康狀況有關。我只想說他們對此非常謹慎和謹慎。但從長遠來看，我認為我們處於有利地位。

Got it.

知道了。

And then maybe a separate question regarding XT. amplify on how should we be thinking about, I guess, the adoption curve of the full XT. AMPLIFY platform. Does that change of the the traditional ARM kind of model, if you will, the bell-shaped curve or I guess another way to look at it is with these incremental capabilities with the services, how does that change the the revenues come from XT. as we look out over the next few years? Because it seems to me at least that there's more of a services component to that. So does it change the rev rec as we look out over the lifetime of AMPLIFY?

然後可能是關於 XT 的單獨問題。我想，請詳細說明我們應該如何考慮完整 XT 的採用曲線。放大平台。如果你願意的話，鐘形曲線是否會改變傳統 ARM 類型的模型，或者我想另一種看待它的方式是透過服務的這些增量功能，這將如何改變來自 XT 的收入。我們展望未來幾年？因為至少在我看來，其中還有更多的服務組件。那麼，當我們觀察 AMPLIFY 的生命週期時，它會改變轉速記錄嗎？

Well, there's still that the connected devices are generally still mostly capital us. We do have some connected devices that are not. But yes, I think what's going to drive our customers to move to the AMPLIFY platform, which we just launched, it does take a while to get into the pipeline and your decision moving. It won't be just to upgrade the council that will be these other and areas that they want to access these new innovations. But we did say that we were going to have not only a multi-year roadmap of AMPLIFY innovations, but even this year we're planning to announce more innovations by the end of the year.

嗯，連接的設備通常仍然主要是我們的資本。我們確實有一些未連網的設備。但是，是的，我認為推動我們的客戶轉向我們剛剛推出的 AMPLIFY 平台的原因是，確實需要一段時間才能進入管道並做出決定。這不僅僅是升級理事會，而是他們希望獲得這些新創新的其他領域。但我們確實說過，我們不僅將製定 AMPLIFY 創新的多年路線圖，而且即使是今年，我們也計劃在年底前宣布更多創新。

Got it.

知道了。

All right. Thank you.

好的。謝謝。

Scott Schoenhaus, Keybanc.

斯科特·舍恩豪斯，Keybanc。

Good morning.Thanks for taking my question. I guess first, on the end markets, did you see any change in your behavior from your customer base during the Change Healthcare disruption. And then now post Intermet, April and May, have you seen any impact on either operationally or from a labor perspective?

早安。我想首先，在終端市場上，在變革醫療保健中斷期間，您是否看到客戶群的行為發生了任何變化。然後現在，在四月和五月的 Intermet 之後，您是否看到了對營運或勞動力角度的任何影響？

They had a focus on getting the billings and claims filed. Did you see any impact from your customers on your business or for DemandTec's?

他們的重點是獲得帳單和索賠。您是否發現客戶對您的業務或 DemandTec 的業務產生了任何影響？

We have not seen any impact on our business, but to be sure we're cautious cautiously monitoring it and looking for any impact. But to this point, we haven't seen any disruption in our business.

我們沒有看到對我們的業務有任何影響，但可以肯定的是，我們正在謹慎地監控它並尋找任何影響。但到目前為止，我們的業務尚未出現任何中斷。

Okay.

好的。

Thanks, Randy.

謝謝，蘭迪。

And then on the equity amplifier side, I think you noted last quarter that some of the bookings guidance for this year included this upsell. Given the traction that you've clearly seen so far, does this change the amount of bookings baked into your full year guidance for the T Amplify?

然後在股本放大器方面，我想您在上個季度注意到今年的一些預訂指南包括了這種追加銷售。考慮到到目前為止您已經清楚看到的吸引力，這是否會改變 T Amplify 全年指導中的預訂量？

I think we're comfortable with our position and on our outlook and our guidance on product, which I believe was slightly higher this year than it was last year and that did contemplate the launch of Amplify.

我認為我們對我們的立場、我們的前景和我們對產品的指導感到滿意，我相信今年的產品指導比去年略高，並且確實考慮了 Amplify 的推出。

And then if I could just sneak one last one. Sorry, Randy and the RTS divestiture. Does this signal to us that you're going to be divesting from international market going forward? How should we read into the RTS divestiture?

如果我能偷偷偷偷拿最後一張就好了。抱歉，蘭迪和 RTS 剝離。這是否向我們表明你們將在未來退出國際市場？我們該如何解讀 RTS 剝離？

Yes, this is Josh. I don't think the signal that we are exiting the international market. This action that we've taken or that we're considering taking is part of an ongoing plan to ensure that we that our investments generate the right level of returns for our shareholders. And so as you know, we did engage with an outside consultant. So this is part of the overall strategy to continue to improve our overall financial performance and ensure that we are unlocking sustainable long-term value for our shareholders.

是的，這是喬許。我不認為這是我們退出國際市場的訊號。我們已經採取或正在考慮採取的這項行動是持續計畫的一部分，以確保我們的投資為股東帶來適當的回報。如您所知，我們確實與外部顧問進行了合作。因此，這是繼續改善我們整體財務表現並確保我們為股東釋放可持續長期價值的整體策略的一部分。

Thank you.

謝謝。

Thanks, Scott.

謝謝，斯科特。

Jessica Tassan, Piper Sandler.

傑西卡·塔桑，派珀·桑德勒。

Hi, guys, and thanks for the question. So and maybe to kick off, I was hoping you could just help us understand what some of the offerings in the XT. amplify and week. Are those server scale Care Plus XT. extend? What are these solutions and then are all of them available today?

嗨，夥計們，謝謝你的提問。因此，也許首先，我希望您能幫助我們了解 XT 中的一些產品。放大和周。那些是伺服器規模的 Care Plus XT。延長？這些解決方案是什麼？

Yes, all of them are available for order today, the extent is UPS, the centerpiece on the hardware is the console upgrade. The Care Plus allows us to go in and redesign the workflows for our customers, service scale allows us to not have to wait on the timing of hospital budgets to get new servers to be expanded to it meet greater demand for the number of connected devices on their server. So it allows and for us to be able to pay it as a service so that the server pieces are included whenever they need it. And I just think mad chill is one of the very exciting pieces.

是的，今天所有這些都可以訂購，範圍是 UPS，硬體上的核心是控制台升級。Care Plus 使我們能夠為客戶重新設計工作流程，服務規模使我們不必等待醫院預算的時間來擴展新伺服器，以滿足對連接設備數量的更大需求他們的伺服器。因此，它允許我們能夠將其作為服務進行支付，以便在需要時可以包含伺服器部件。我只是認為《瘋狂的寒冷》是非常令人興奮的作品之一。

We get a lot of feedback that customers want to go to this kind of product, which really helps to simulate down to the single skew on a refrigerated product and have access and locking control to it. So this gives you more confidence from a pharmacy standpoint of deploying refrigerated products, which can be costly, costly or toxic and have better control out of them. And so but just an open refrigerator. So we know there's good demand for these products and that we've already started to see people highly engaged about them and wanting to get access to them.

我們收到很多回饋，客戶希望使用此類產品，這確實有助於模擬冷藏產品的單一偏斜，並對其進行存取和鎖定控制。因此，從藥房的角度來看，這讓您更有信心部署冷藏產品，這些產品可能成本高昂、成本高昂或有毒，並且可以更好地控制它們。所以只是一個打開的冰箱。因此，我們知道對這些產品的需求很大，我們已經開始看到人們對它們高度參與並希望獲得它們。

I doubt quite sure of all of them will be all of them are bookable. Now Obama will be delivered this year. Is there my it and now kind of how your and your specialty pharmacy consulting business has helped kind of inform this product development pipeline, if at all yes, I think the nice aspect of specialty pharmacy is that it really engages with a very high level of the C-suite and really on a monthly basis, which then really allows us the platform to talk about other ways to improve both revenues and cost impacts of the pharmacy operation. And as we look at them, what our health systems are going through or what what they need is a lot of solutions that are dependent on ambulatory or outpatient clinics. And so we're excited that amplify in this roadmap has solutions that address those places, one of them.

我懷疑所有這些都可以預訂。現在歐巴馬將於今年上任。有沒有我的，現在您和您的專業藥學諮詢業務如何幫助告知該產品開發管道，如果有的話，我認為專業藥學的好處在於它確實與非常高水平的最高管理層，實際上是每月一次，這確實讓我們平台能夠討論改善藥房營運收入和成本影響的其他方法。當我們審視它們時，我們的健康系統正在經歷或他們需要的是許多依賴門診或門診診所的解決方案。因此，我們很高興在此路線圖中放大解決這些問題的解決方案，其中之一。

And my last question is just can you update us on trends in three 40 B's, so both on the contract pharmacy side and on the covered entity side, maybe like year over year quarter over quarter just and volumes would be helpful.

我的最後一個問題是，您能否向我們介紹3 個40 B 的最新趨勢，因此無論是在合約藥房方面還是在涵蓋的實體方面，也許就像年同比、季度同比和銷量一樣會有所幫助。

Well, I think three 40 b. is pretty much a third party administrator. Tpa is sort of in line with where we were last year and it continues to be. It is also a good product to combine with our specialty pharmacy services so that when a drug is available on the outpatient or through the third party administrator side, some extra benefit that we can offer the Senate having to run it through the specialty pharmacy on-site pharmacy. So we think it's a good one product and to offer in combination with their specialty pharmacy service.

嗯，我認為三個 40 b。幾乎是第三方管理員。Tpa 與我們去年的情況一致，而且仍然如此。它也是一個與我們的專業藥房服務相結合的好產品，這樣當門診病人或通過第三方管理方可以獲得藥物時，我們可以為參議院提供一些額外的好處，而參議院必須通過專業藥房來運行它— —現場藥局。因此，我們認為這是一種很好的產品，可以與他們的專業藥房服務結合起來提供。

Jeff, I'll just add to that that I remember the last time we spoke, I think we said it free for the base generating about 30 to $35 million and only for us, and we expect that to continue.

傑夫，我想補充一點，我記得上次我們談話時，我想我們說過它對產生約 30 至 3500 萬美元的基地免費，而且只對我們來說，我們希望這種情況能夠繼續下去。

Got it.

知道了。

No growth year over year and 24 is that ends up on the three 40 b. contract pharmacy at split billing side,

年比沒有成長，24 是最終在 3 個 40 b 上。分開計費方的合約藥房，

the Group we do expect due to the flood zone, but we continue to it's part of our overall strategy. As Randall mentioned, we would look forward to combining it with our inventory optimization services.

由於洪水區，我們確實期望該集團，但我們仍然將其作為我們整體策略的一部分。正如蘭德爾所提到的，我們期待將其與我們的庫存優化服務結合。

Got it.

知道了。

Thank you, guys.

感謝你們。

Thanks, Jes.

謝謝，傑斯。

(Operator Instructions)

（操作員說明）

David Larsen, BTIG. .

大衛‧拉森，BTIG。。

Hi, this is Jenny Shen on for David Larsen. Thanks for taking my questions and congrats on the quarter. I think you mentioned some focus on outcomes-based solutions and taking an outcomes centric approach. Can you just elaborate on what that means or what your focus is on there and highlight some of those key outcomes does that potentially mean that you can move to a model where so your clients recognize a certain amount of cost savings or we reach a certain level of adherence where you would receive a certain performance payment for that.

大家好，我是大衛‧拉森 (David Larsen) 的珍妮‧沉 (Jenny Shen)。感謝您回答我的問題並祝賀本季。我認為您提到了對基於結果的解決方案的關注以及採取以結果為中心的方法。您能否詳細說明這意味著什麼或您的重點是什麼，並強調其中一些關鍵結果是否可能意味著您可以轉向一種模型，以便您的客戶認識到一定程度的成本節省或我們達到一定水平遵守情況，您將因此獲得一定的績效報酬。

Yes, and I think that's a little bit beyond where we're thinking at the moment. But certainly medication management is such a big data and the outcome have any patient weather as well as the finances of any event related to patient activity. So I think it's prudent upon us to make those connections between those pharmacy activities and the impact eventually to the patient as well as to the bottom line of that facility. So they are easier to make as you get access to more of the data and get more access and visibility to the transactions throughout a patient's episode.

是的，我認為這有點超出了我們目前的想法。但可以肯定的是，藥物管理是一個大數據，其結果包括任何患者的天氣以及與患者活動相關的任何事件的財務狀況。因此，我認為我們應該謹慎地將這些藥房活動與最終對患者以及該機構的底線的影響聯繫起來。因此，當您可以存取更多資料並在整個患者的發病過程中獲得更多的存取權和交易可見度時，它們就更容易製作。

And we continue to see that. We probably see it most in our retail cloud-based solution set where we're able to inform through our retail software, we're able to inform the pharmacy and eventually doctors and patients how well they're adhering to their medication management regiments. So those are the kinds of outcomes we're looking at. We're not quite here yet tying it to the actual scientific outcome, so to speak.

我們繼續看到這一點。我們可能在基於雲端的零售解決方案集中看到最多，我們能夠透過零售軟體通知，我們能夠通知藥房並最終通知醫生和患者他們遵守藥物管理團的情況如何。這些就是我們正在關注的結果。可以這麼說，我們還沒有完全將其與實際的科學成果聯繫起來。

Anything else, Jenny?

還有什麼嗎，珍妮？

goes through.

穿過去。

A quick question on costs. It gotten some good cost savings initiatives over the last few quarters? Just any additional levers you think you can pull there?

關於成本的一個簡單問題。在過去的幾個季度中，它採取了一些良好的成本節約措施？您認為可以拉動任何額外的槓桿嗎？

Yes, Jamie, we do continue to evaluate and assess our overall cost structure. And this is part of our ongoing strategy and we will make the right decisions that we think necessary to sell will continue to help us an increase of our overall financial performance and unlock shareholder value.

是的，傑米，我們確實繼續評估和評估我們的整體成本結構。這是我們持續策略的一部分，我們將做出我們認為有必要出售的正確決定，這將繼續幫助我們提高整體財務表現並釋放股東價值。

Thank you and congrats on the quarter.

謝謝並恭喜本季。

Thanks.

謝謝。

Thanks, Jamie.

謝謝，傑米。

Stephanie Davis, Barclays.

史蒂芬妮戴維斯，巴克萊銀行。

Hi, guys. Anna Kruszenski for Stephanie. Thank you for taking our questions. And hybrid is I was curious if you could talk about how hospital buying is being impacted by the push-pull of the change disruption and better utilization levels?

嗨，大家好。安娜克魯森斯基飾演史蒂芬妮。感謝您接受我們的提問。我很好奇您能否談談變革中斷和更好的利用率水準的推拉對醫院採購的影響？

I think you're referring to the change impact. We're not seeing the impact in our business, but we're monitoring it carefully.

我認為你指的是改變的影響。我們沒有看到對我們業務的影響，但我們正在仔細監控它。

Okay, thank you. And then as a follow-up, just given the recent cadence of forward guidance conservatism, can you walk us through what your assumptions are in the 2Q guidance? And is this reflective of a pull-forward in 1Q or the softer backdrop are just setting a lower bar?

好的謝謝。然後，作為後續行動，考慮到最近前瞻性指引保守主義的節奏，您能否向我們介紹一下您在第二季指引中的假設？這是否反映了第一季的拉動，或者較軟的背景只是設定了較低的標準？

Yes, we're very comfortable with our plan for the year. The guidance that we provided I know we had a good first quarter and we are not changing the outlook at this point. We continue to on track to what we provided. We are seeing some headwinds with some of our customers, but we we're maintaining our guidance for the year.

是的，我們對今年的計劃非常滿意。我們提供的指導我知道我們第一季表現良好，目前我們不會改變前景。我們將繼續遵循我們所提供的內容。我們看到一些客戶面臨一些阻力，但我們維持今年的指導。

Okay.

好的。

That's helpful. Thank you for the color.

這很有幫助。謝謝你的顏色。

Bill Sutherland, Benchmark Company.

比爾·薩瑟蘭，基準公司。

Thanks, Carey.

謝謝，凱裡。

One HR may have the cost initiatives that the cost take-outs that you plan charge, are they fully reflected now in the model that we're seeing for, I guess, 2Q

一位人力資源部可能有您計劃收取的成本支出的成本計劃，它們現在是否完全反映在我們看到的模型中，我想是第二季度

Bill, I want to make sure I understand your question.

比爾，我想確保我理解你的問題。

Are you referring which cost takeout Are you referring to.

您指的是哪一項成本外送？

the ones that you've been you implemented year end, correct?

你在年底實施的那些，對嗎？

Yes.

是的。

Or am I remembering correctly?

還是我沒記錯？

Yes.

是的。

Okay. So there's been nothing incremental year to date?

好的。那麼今年迄今沒有任何增量嗎？

Well, the majority of the benefit from the cost actions were realized the beginning of the first quarter of this year with a smaller portion, we anticipate a smaller portion to continue throughout the year, but the majority was realized in the first quarter.

嗯，成本行動帶來的大部分好處是在今年第一季初實現的，只有一小部分，我們預計較小的部分將持續全年，但大部分是在第一季實現的。

Okay.And then over to enliven on, can you a little more color, Randy, potentially on how what benefit to the business and the outlook for?

好的。

Yes. I think we're cautiously optimistic there, but we've seen some good start to the year with some nice wins. And those wins are our the contracting portion, and they will result in the ARR. as we move forward. But it's nice to see that business. I think that's coming because of the settling down of pharmacist and retail outlets a little bit and so it gives us a good platform to come in and put in new innovation, but that that business it is doing solid and we believe will eventually grow steadily over the long term.

是的。我認為我們對此持謹慎樂觀的態度，但我們已經看到了今年的良好開局，並取得了一些不錯的勝利。這些勝利是我們的合約部分，它們將產生 ARR。當我們前進時。但很高興看到這項業務。我認為這是因為藥劑師和零售店的安定下來，所以它為我們提供了一個很好的平台來進行新的創新，但這項業務做得很紮實，我們相信最終將穩定增長長期來看。

has it been more about new rooftops or adding services to current clients.

更多的是關於新屋頂還是為現有客戶增加服務。

I think the most a little bit of both, but I think the most recent is rooftops Okay, because it seems like you have such massive market share.

我認為兩者中都有一點，但我認為最近的是屋頂好吧，因為看起來你擁有如此巨大的市場份額。

like you have such massive market share. Okay.

就像你擁有如此巨大的市場佔有率一樣。好的。

Stan Berenshteyn, Wells Fargo.

史丹貝倫斯坦，富國銀行。

Go through our.

穿過我們的.

Thanks for allowing me to a follow-up here. Just wanted to quickly ask on your comments regarding the services revenue pull forward. Can you just give us some color as to what contributed to the timing impact in the quarter?

感謝您允許我在這裡進行後續跟進。只是想快速詢問您對服務收入的提前評論。您能否向我們介紹一下是什麼因素導致了本季的時間影響？

Yes, Stan, we saw the timing impact was primarily driven by the pull forward of demand in our advanced services as well as our technical services. We do expect that to even out as we go through the course of the year. So that's why we'll I'm tracking or maintaining the guidance outlook that we provided.

是的，史丹，我們看到時間影響主要是由我們的高級服務和技術服務需求的提前推動的。我們確實預計隨著這一年的過去，這種情況會趨於平衡。因此，這就是為什麼我們要追蹤或維持我們提供的指導前景。

Great. Thank you.

偉大的。謝謝。

As there are no further questions at the queue this time, this concludes our Q&A session. I would like to turn the call over back to Randall Lipps for closing remarks.

由於這次隊列中沒有其他問題，我們的問答環節到此結束。我想將電話轉回給蘭德爾·利普斯（Randall Lipps）做總結發言。

Well, thank you for joining us today. It's really an exciting time at Omnicell and see this new innovation, multiyear roadmap. It's really allowing us to engage with our customers and solving problems that have been pain points that haven't been addressed. And it really allows us to talk about the future with them and not only the future of inpatient, but outpatient and having a more holistic platform approach to really innovate automation and deliver on the Autonomous Pharmacy is what the industry needs.

好的，謝謝您今天加入我們。在 Omnicell 看到這個新的創新、多年路線圖，這確實是一個令人興奮的時刻。它確實讓我們能夠與客戶互動並解決尚未解決的痛點問題。它確實讓我們能夠與他們談論未來，不僅是住院患者的未來，還有門診患者的未來，以及擁有更全面的平台方法來真正創新自動化並實現自主藥房是行業所需要的。

I also want to thank the Omnicell employees, thanks for the hard work and going through Q4 and launching off a good refreshing year, and I look forward to seeing you next time.

我還要感謝 Omnicell 員工，感謝你們的辛勤工作，感謝你們度過了第四季度並開啟了一個令人耳目一新的良好一年，我期待下次見到你們。

Thank you.

謝謝。

Ladies and gentlemen, this concludes today's conference call. Thank you for your participation. You may now disconnect.

女士們、先生們，今天的電話會議到此結束。感謝您的參與。您現在可以斷開連線。