Omnicell Inc (OMCL) 2024 Q2 法說會逐字稿

Good morning, and thank you for standing by. My name is Aaron, and I will be your conference operator for today. At this time, I would like to welcome everyone to the Omnicell second-quarter 2024 financial results call. (Operator Instructions)

早安，感謝您的支持。我叫亞倫，今天我將擔任你們的會議操作員。此時此刻，我歡迎大家參加 Omnicell 2024 年第二季財務業績電話會議。（操作員說明）

With that, I would like to turn the call over to Kathleen Nemeth, Senior Vice President.

說到這裡，我想將電話轉給高級副總裁凱瑟琳·內梅斯 (Kathleen Nemeth)。

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

早安，歡迎參加 Omnicell 2024 年第二季財務業績電話會議。今天與我通話的有 Omnicell 董事長、總裁、執行長兼創辦人 Randall Lipps； Nchacha Etta，執行副總裁兼財務長。

This call will contain forward-looking statements, including statements related to financial projections or performance or other statements regarding Omnicell's plans, strategy, objectives, goals, expectations, planned investments, expense management, product, services or solutions, results of our holistic review initiative, our ability to deliver more consistent performance and drive long-term success, or marketing 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 28, 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，包括與財務預測或績效相關的陳述，或與Omnicell 的計劃、策略、目標、目標、期望、計劃投資、費用管理、產品、服務或解決方案、我們整體審查與計劃的結果相關的其他陳述、我們提供更一致的業績並推動長期成功的能力，或行銷公司的前景，這些前景受到風險、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存在重大差異。有關影響這些前瞻性陳述的風險的更詳細說明，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 10-K 表格年度報告以及其他更多資訊中。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 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 results were released this morning and are posted in the Investor Relations section of our website at ir.omnicell.com.

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。我們的業績於今天上午發布，並發佈在我們網站 ir.omnicell.com 的投資者關係部分。

Additionally, we would like to remind you that during this call, we will discuss some non-GAAP financial measures. Reconciliations of these non-GAAP measures to the most comparable GAAP financial measures are included in our financial results press release posted on our IR website. With respect to forward-looking non-GAAP measures, we do not provide a reconciliation of forward-looking non-GAAP measures to the comparable GAAP measures on a forward-looking basis, as these items are inherently uncertain and difficult to estimate and cannot be predicted without unreasonable effort.

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。這些非 GAAP 指標與最具可比性 GAAP 財務指標的調整表包含在我們發佈在 IR 網站上的財務表現新聞稿中。對於前瞻性非 GAAP 指標，我們不會在前瞻性的基礎上提供前瞻性非 GAAP 指標與可比較 GAAP 指標的調整表，因為這些項目本質上是不確定的，難以估計，並且無法無需不合理的努力即可預測。

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. Good morning, and thank you all for joining us to discuss our financial results for the second quarter of 2024 and our outlook for the remainder of the year.

謝謝你，凱瑟琳。早安，感謝大家與我們一起討論 2024 年第二季的財務表現以及對今年剩餘時間的展望。

We had a strong quarter and remain confident in our ability to position the company for continued long-term success. As I shared with you on our previous two earnings calls, we have been working to improve the company's financial performance, while also investing in and releasing innovative medication management solutions for our XT point-of-care platform. Today, I'm pleased to share that we are progressing on both initiatives.

我們度過了一個強勁的季度，並對我們幫助公司持續長期成功的能力充滿信心。正如我在前兩次財報電話會議上與您分享的那樣，我們一直在努力提高公司的財務業績，同時也為我們的 XT 護理點平台投資並發布創新的藥物管理解決方案。今天，我很高興地告訴大家，我們在這兩項措施上都取得了進展。

Also, we have completed our holistic review initiative, which has validated our confidence in our refreshed strategy, which focuses on innovations around our XT platform and offering services that are expected to increase our reoccurring revenue. At the same time, we have identified several areas of opportunity to take actions that are intended to further streamline our processes and that we believe will drive synergies across our businesses. We expect these actions to enable us to progress toward our goal of more consistent performance.

此外，我們還完成了全面審查計劃，這驗證了我們對更新策略的信心，該策略重點關注圍繞 XT 平台的創新，並提供有望增加我們經常性收入的服務。同時，我們已經確定了幾個可以採取行動的機會領域，旨在進一步簡化我們的流程，我們相信這將推動我們整個業務的協同效應。我們希望這些行動能讓我們朝著更一致的績效目標邁進。

Based on what we are seeing, the macroeconomic landscape is showing early signs of improvement and the demand for Omnicell's medication management XT point-of-care solutions and advanced service offerings is tracking in line with our initial expectations for the year. Accordingly, we are updating our previously provided 2024 annual guidance metrics based on our strong first half performance and our current visibility of the business.

根據我們所看到的情況，宏觀經濟狀況正在顯示出改善的早期跡象，對 Omnicell 藥物管理 XT 護理點解決方案和先進服務產品的需求與我們今年的最初預期相符。因此，我們根據上半年強勁的業績和當前的業務可見性更新了先前提供的 2024 年年度指導指標。

Next, turning to our second-quarter results. We delivered solid results that exceeded the upper end of our guidance ranges, we believe reflects strong demand for Omnicell's products and services, and solid execution by our team. The second-quarter 2024 total revenues was $277 million, representing a sequential increase of $31 million or 12% over the prior quarter, and a decrease of $22 million or 7% over second quarter 2023.

接下來，轉向我們的第二季業績。我們交付的成果超出了指導範圍的上限，我們相信這反映了對 Omnicell 產品和服務的強勁需求，以及我們團隊的紮實執行力。2024 年第二季總營收為 2.77 億美元，較上一季增加 3,100 萬美元，或 12%；比 2023 年第二季減少 2,200 萬美元，即 7%。

Second-quarter 2024 earnings per share in accordance with GAAP was a profit of $0.08 per share compared to a loss of $0.34 per share in the prior quarter and a profit of $0.08 per share in the second quarter of 2023. Our second-quarter 2024 non-GAAP earnings per share were $0.51 compared with $0.03 per share in the prior quarter and $0.57 per share in the same period last year.

根據 GAAP 計算，2024 年第二季每股收益為每股 0.08 美元，而上一季每股虧損 0.34 美元，2023 年第二季每股獲利 0.08 美元。2024 年第二季非 GAAP 每股盈餘為 0.51 美元，上一季每股收益為 0.03 美元，去年同期每股收益為 0.57 美元。

Second-quarter 2024 non-GAAP EBITDA was $40 million, an increase of $29 million compared to the previous quarter, but a decrease of $7 million when compared to the same period last year. Nchacha will provide more details of the drivers for this quarter's results, as well as further details regarding our outlook for the remainder of the year.

2024年第二季非GAAP EBITDA為4,000萬美元，較上季增加2,900萬美元，但較去年同期減少700萬美元。Nchacha 將提供有關本季度業績驅動因素的更多詳細信息，以及有關我們對今年剩餘時間的展望的更多詳細信息。

We are investing in next-generation upgrades and outcomes-based solutions for our XT fleet of automated medication dispensing systems as well as making investments in specialty pharmacy services. We are enthusiastic about the multiyear journey we have embarked upon here at Omnicell and are particularly pleased with the early customer feedback we are receiving.

我們正在為我們的 XT 自動配藥系統系列投資下一代升級和基於結果的解決方案，並投資於專業藥房服務。我們對 Omnicell 開啟的多年旅程充滿熱情，並對我們收到的早期客戶回饋感到特別滿意。

In May, April, we announced XT Amplify a multiyear innovation program that is intended to maximize value for hospitals, health systems and post-acute facilities that have invested in Omnicell's XT automated dispensing systems, while also seeking to drive enhanced clinical and operational outcomes at the point-of-care and within pharmacies. We are pleased to report that the XT Amplify appears to be resonating well with the market, and the program is demonstrating a strong next step forward for us in the journey to deliver outcome-centric innovations.

今年 5 月、4 月，我們宣布了 XT Amplify 一項多年創新計劃，旨在為投資了 Omnicell XT 自動配藥系統的醫院、衛生系統和急性後期設施實現價值最大化，同時尋求推動增強臨床和營運成果護理點和藥房內。我們很高興地報告，XT Amplify 似乎與市場產生了良好的共鳴，該計劃向我們展示了在提供以結果為中心的創新之旅中強有力的下一步。

We also have further announcements slated for the next several quarters and look forward to sharing these with our current and future customers as well as all of you. As we indicated last quarter, XT Amplify is just the beginning of our reinvigorated focus on new products and services, which we expect to drive long-term growth. We're also seeing strong demand for our advanced services, which are designed to drive improved medication management outcomes across the full care continuum.

我們還計劃在接下來的幾季發布更多公告，並期待與我們當前和未來的客戶以及所有人分享這些資訊。正如我們上季度所指出的，XT Amplify 只是我們重新專注於新產品和服務的開始，我們預計這將推動長期成長。我們也看到對我們先進服務的強勁需求，這些服務旨在推動整個護理過程中藥物管理結果的改善。

Omnicell advanced services were 22% of our revenue for the first and second quarters of 2024, an increase from 18% of our revenue for the second quarter of 2023. We continue to anticipate that advanced services will represent 21% of our total revenue for the full year 2024. We anticipate total reoccurring revenue, which includes consumables and technical services to represent approximately 50% of total revenue for the full year 2024.

Omnicell 高級服務占我們 2024 年第一季和第二季營收的 22%，高於 2023 年第二季營收的 18%。我們仍然預計高級服務將佔 2024 年全年總收入的 21%。我們預計包括消耗品和技術服務在內的經常性總收入將佔 2024 年全年總收入的約 50%。

Now, turning to a few selected highlights of our customer wins this quarter, as health systems continue to consolidate through mergers and acquisitions, we find a need to standardize medication management care across a growing enterprise is more important than ever. A nationally ranked academic medical center in Illinois and long-term customer has selected Omnicell point-of-care and infrastructure solutions to standardize and scale their medication management capabilities. This includes replacing competitive solutions as they merge new facilities into the health system and upgrade their existing fleet of Omnicell systems.

現在，轉向本季度我們客戶獲勝的一些精選亮點，隨著衛生系統繼續透過併購進行整合，我們發現在成長型企業中標準化藥物管理護理的需要比以往任何時候都更加重要。伊利諾伊州一家全國排名較高的學術醫療中心和長期客戶選擇了 Omnicell 護理點和基礎設施解決方案來標準化和擴展其藥物管理能力。這包括在將新設施合併到衛生系統中並升級現有的 Omnicell 系統時更換競爭性解決方案。

An integrated health system spending, Iowa, Wisconsin and Illinois has selected Omnicell as their long-term partners to seamlessly automate and manage medications across their 16 facilities. This includes replacing previous generation systems with XT Automated Dispensing Systems were also upgrading existing XT units with XTExtend, a new console designed to provide high-level security and an enhanced nursing user experience. XTExtend is an integrated component of the XT Amplify innovation program announced earlier this year. As well, we are excited about a new long-term engagement with one of the largest providers of critical illness recovery hospitals, inpatient rehabilitation hospitals, outpatient rehabilitation centers and occupational health clinics in the US.

愛荷華州、威斯康辛州和伊利諾伊州的綜合衛生系統支出選擇 Omnicell 作為其長期合作夥伴，以無縫自動化和管理其 16 個設施中的藥物。這包括用 XT 自動分配系統取代上一代系統，還用 XTExtend 升級現有的 XT 裝置，XTExtend 是一種新控制台，旨在提供高水準的安全性和增強的護理使用者體驗。XTExtend 是今年稍早宣布的 XT Amplify 創新計畫的整合元件。此外，我們很高興與美國最大的危重疾病復健醫院、住院復健醫院、門診復健中心和職業健康診所提供者之一建立新的長期合作關係。

Medication safety is a top priority for this company, and our controlled substance dispensers within our XT Automated Dispensing product portfolio are expected to provide greater visibility to their controlled substances. This should also help identify narcotic discrepancies, enable them to better manage diversion events throughout the enterprise, being able to provide the right medication at the right time should facilitate accurate and timely dispensing, providing complete audit trails and save time for their pharmacists, nurses and technicians.

藥物安全是該公司的首要任務，我們的 XT 自動分配產品組合中的受管制物質分配器預計將為其受管制物質提供更大的可視性。這也應有助於識別麻醉品差異，使他們能夠更好地管理整個企業的轉移事件，能夠在正確的時間提供正確的藥物，應有助於準確和及時的配藥，提供完整的審計跟踪並為藥劑師、護士和護士節省時間。

Advanced services also delivered solid performance this quarter. One highlight is that a multi-hospital system in Southeast Pennsylvania selected Omnicell's central pharmacy dispensing service in an effort to enable streamlined medication dispensing operations at their two main facilities, adopting the XR2 robot within their central pharmacy as a standard of care should help to streamline medication, storing, picking and dispensing. It is also intended to optimize inventory management, which should drive enhanced clinical and operational outcomes.

高級服務本季也取得了穩健的業績。一個亮點是賓州東南部的多醫院系統選擇了 Omnicell 的中央藥房配藥服務，以簡化其兩個主要設施的藥物配藥操作，在其中央藥房內採用 XR2 機器人作為護理標準應有助於簡化用藥、儲存、採摘和分發。它還旨在優化庫存管理，這將推動改善臨床和營運成果。

Our Enliven brand, part of our advanced service portfolio continues to deliver solutions designed to help retail pharmacies and health systems optimize patient care and drive sustainable growth. Later today, we'll be announcing that a strategic partner has selected EnlivenHealth scope of practice and reimbursement snapshot, a first-of-its-kind solution that is designed to provide their independent pharmacy members with access to up-to-date information regarding the clinical service that can provide in their state and reimburse details for those services. We believe that providing this new service emphasizes our commitment to elevating pharmacies to the forefront of health care by contributing to the clinical service expansion and providing greater access to patient care through local independent pharmacies across the US.

我們的 Enliven 品牌是我們先進服務組合的一部分，繼續提供旨在幫助零售藥房和衛生系統優化患者護理並推動可持續增長的解決方案。今天晚些時候，我們將宣布戰略合作夥伴已選擇 EnlivenHealth 業務範圍和報銷快照，這是一個首創的解決方案，旨在為其獨立藥房會員提供有關以下方面的最新信息可以在其所在州提供這些服務並報銷詳細資訊的臨床服務。我們相信，提供這項新服務強調了我們致力於透過擴大臨床服務並透過美國各地的當地獨立藥房為患者提供更多的護理服務，將藥房提升到醫療保健的最前沿。

And finally, Omnicell specialty pharmacy services grew by opening numerous new managed pharmacy locations and optimizing the performance at existing pharmacies in the first half of 2024. Omnicell specialty pharmacy services seeks to help customers expand their outpatient pharmacy programs, deliver high-quality patient care and maximize pharmacy performance through technology and expert services including 340B third-party administrator solutions. This is an area of investment for Omnicell, and we are encouraged by the growth and market potential.

最後，Omnicell 專業藥房服務透過在 2024 年上半年開設眾多新的管理藥房地點並優化現有藥房的績效而實現成長。Omnicell 專業藥房服務致力於透過技術和專家服務（包括 340B 第三方管理員解決方案）幫助客戶擴展門診藥房計劃、提供高品質的患者護理並最大限度地提高藥房績效。這是 Omnicell 的投資領域，我們對其成長和市場潛力感到鼓舞。

In summary, Omnicell delivered a strong second quarter. We recognize that there's more work to do as we take actions that are intended to improve our financial performance and deliver consistent results. I am very proud of the team's laser focus on outcome-centric innovation, customer success and our purpose to be health care providers' most trusted partner to enable the autonomous pharmacy transformation. Our omni sell-ins, dedication is something that inspires me on a daily basis, and I look forward to continuing to see the positive impact we are striving to deliver for our customers and for our communities.

總而言之，Omnicell 第二季業績強勁。我們認識到，在採取旨在改善財務表現並提供一致結果的行動時，還有更多工作要做。我為該團隊專注於以結果為中心的創新、客戶成功以及我們成為醫療保健提供者最值得信賴的合作夥伴以實現自主藥房轉型的目標感到非常自豪。我們全方位的銷售和奉獻精神每天都激勵著我，我期待著繼續看到我們努力為客戶和社區帶來的正面影響。

Now, let me turn it over to Nchacha for the financial update. Nchacha?

現在，讓我將其轉交給 Nchacha 以獲取最新的財務資訊。尼查查？

Thank you, Randall.

謝謝你，蘭德爾。

As Randall noted, we had a strong second quarter. I'm going to walk you through some of the drivers for our second-quarter 2024 performance as well as our outlook for the remainder of the year. We are pleased to see that the demand environment is tracking in line with our initial expectations. The drivers for our second-quarter results included a healthy number of installs for our point-of-care suite of products as well as strong demand for Omnicell specialty pharmacy services.

正如蘭德爾指出的那樣，我們的第二季度表現強勁。我將向您介紹我們 2024 年第二季業績的一些驅動因素以及我們對今年剩餘時間的展望。我們很高興看到需求環境正在符合我們最初的預期。我們第二季業績的推動因素包括我們的護理點產品套件的大量安裝以及對 Omnicell 專業藥房服務的強勁需求。

We have taken and will continue to take what we believe is a prudent and cautious approach to expense management as we roll out our exciting innovation agenda. The disciplined approach we took to managing our expenses helped contribute to our strong bottom line results in the second quarter of 2024.

在推出令人興奮的創新議程時，我們已經並將繼續採取我們認為審慎和謹慎的費用管理方法。我們採取嚴格的費用管理方法，幫助我們在 2024 年第二季實現了強勁的利潤。

I am so proud of our Omnicell team, who continue to demonstrate their commitment to our promise and our guiding principles on a daily basis. Their commitment is fundamental to delivering improved patient outcomes.

我為我們的 Omnicell 團隊感到非常自豪，他們每天都繼續兌現我們對我們的承諾和指導原則的承諾。他們的承諾對於改善患者治療效果至關重要。

Our second-quarter 2024 total revenue were $277 million, an increase of $31 million or 12% over the prior quarter and a decrease of $22 million or 7% over second quarter of 2023. The revenue decrease over the prior year reflects the impact of the macroeconomic environment and timing of the exit product life cycle. While the macroeconomic landscape is showing early signs of health systems budgets improving, it would take some time to be reflected in our revenues as health systems customer budgets become available and are converted to bookings and ultimately revenues upon implementation.

我們 2024 年第二季的總營收為 2.77 億美元，比上一季增加 3,100 萬美元，即 12%，比 2023 年第二季減少 2,200 萬美元，即 7%。收入較上年下降反映了宏觀經濟環境和退出產品生命週期時機的影響。雖然宏觀經濟狀況顯示出衛生系統預算改善的早期跡象，但隨著衛生系統客戶預算的可用並在實施後轉化為預訂和最終收入，這需要一些時間才能反映在我們的收入中。

Product revenues were $157 million, an increase of 17% over the previous quarter, and down 17% compared to second quarter of 2023. Services revenue were $120 million, an increase of 7% over the previous quarter and an increase of 9% over the second quarter of 2023. Both technical services and advanced services contributed to the growth over the second quarter of 2023, reflecting the growing technical services installed base and the impact of our pricing actions as well as customer demand for our advanced services.

產品營收為1.57億美元，較上一季成長17%，較2023年第二季下降17%。服務收入為1.2億美元，較上一季成長7%，較2023年第二季成長9%。技術服務和高級服務都對 2023 年第二季度的成長做出了貢獻，反映了技術服務安裝基礎的不斷增長、我們定價行為的影響以及客戶對我們高級服務的需求。

Total revenues in the quarter were $17 million, above the top end of our previously disclosed second-quarter 2024 guidance range, with product revenues accounting for approximately $12 million of the overachievement and services revenue accounting for the remaining $5 million. Revenues in the quarter were aided by strong performance of Omnicell's medication management XT point-of-care solutions and advanced service offerings, particularly Omnicell's specialty pharmacy services.

本季總收入為 1,700 萬美元，高於我們先前揭露的 2024 年第二季指導範圍的上限，其中產品收入約佔超額業績中的 1,200 萬美元，服務收入佔剩餘的 500 萬美元。本季的收入得益於 Omnicell 藥物管理 XT 護理點解決方案和先進服務產品的強勁表現，特別是 Omnicell 的專業藥房服務。

Non-GAAP gross margin for second quarter 2024 was 44.2%, an increase of 440 basis points from the prior quarter, primarily due to higher volume leverage and what we believe is our continued prudent expense management. A full reconciliation of our GAAP to non-GAAP results are included in each of our first quarter 2024 and second-quarter 2024 earnings press releases, which are posted on our investor relations website.

2024 年第二季的非 GAAP 毛利率為 44.2%，較上一季增加 440 個基點，這主要是由於銷售槓桿率較高以及我們認為我們持續審慎的費用管理。我們的 GAAP 與非 GAAP 業績的全面調節包含在我們的 2024 年第一季和 2024 年第二季財報新聞稿中，這些新聞稿發佈在我們的投資人關係網站上。

Our second-quarter 2024 earnings per share in accordance with GAAP were a profit of $0.08 per share compared to a loss of $0.34 per share in the prior quarter, and a profit of $0.08 per share in the second quarter of 2023. As we have mentioned, it is management's goal to return to consistent GAAP profitability. Our second-quarter 2024 non-GAAP earnings per share was $0.51 compared with $0.03 per share in the prior quarter and $0.57 per share in the same period last year.

根據 GAAP，我們 2024 年第二季的每股盈餘為每股 0.08 美元，而上一季每股虧損 0.34 美元，2023 年第二季每股盈餘為 0.08 美元。正如我們所提到的，管理階層的目標是恢復一致的 GAAP 獲利能力。2024 年第二季非 GAAP 每股盈餘為 0.51 美元，上一季每股收益為 0.03 美元，去年同期每股收益為 0.57 美元。

Second-quarter non-GAAP EBITDA was $40 million, an increase of $29 million compared to the previous quarter, but a decrease of $7 million when compared to the same period last year. Second-quarter 2024 non-GAAP EBITDA and non-GAAP earnings per share exceeded our expectations 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.

第二季非美國通用會計準則 EBITDA 為 4,000 萬美元，較上季增加 2,900 萬美元，但較去年同期減少 700 萬美元。由於收入執行和時間安排，以及強有力的成本和營運費用管理，2024 年第二季非 GAAP EBITDA 和非 GAAP 每股盈餘超出了我們的預期，因為我們繼續採取我們認為審慎的投資決策。

At the end of the second quarter of 2024, our cash and cash equivalents balance was $557 million, up from $512 million as of March 31, 2024. Non-GAAP free cash flow during the second quarter of 2024 was $45 million, as we continue to see strong cash collections and working capital management.

截至 2024 年第二季末，我們的現金及現金等價物餘額為 5.57 億美元，高於截至 2024 年 3 月 31 日的 5.12 億美元。2024 年第二季的非 GAAP 自由現金流為 4,500 萬美元，我們繼續看到強勁的現金回收和營運資金管理。

In terms of accounts receivable, day sales outstanding for the quarter was 81 days, a decrease of 13 days over the prior quarter. We are pleased with the strong collections in the quarter. Inventories as of June 30, 2024, were $93 million, a decrease of $10 million from the prior quarter, and a decrease of $37 million from June 30, 2023. The $10 million decrease in the second-quarter 2024 inventories includes approximately $6 million on inventory write-down related to the planned RDS restructuring we announced previously.

應收帳款方面，本季應收帳款天數為81天，較上季減少13天。我們對本季強勁的產品系列感到滿意。截至2024年6月30日的庫存為9,300萬美元，較上一季減少1,000萬美元，比2023年6月30日減少3,700萬美元。2024 年第二季庫存減少 1,000 萬美元，其中包括與我們先前宣布的 RDS 重組計劃相關的約 600 萬美元庫存減記。

Now, turning to our guidance, first, based on our strong results delivered in the second quarter of 2024, and our current visibility for the remainder of the year, we are updating our full year 2021 outlook. For the full year 2024, we anticipate bookings to be in the range of $775 million to $875 million. Total revenues are expected to be in the range of $1.070 billion to $1.110 billion. Non-GAAP EBITDA is expected to increase to the range of $105 million to $125 million. Non-GAAP EPS is expected to increase to a range of $1.20 to $1.50.

現在，轉向我們的指導，首先，根據我們在 2024 年第二季度交付的強勁業績以及我們目前對今年剩餘時間的預見性，我們正在更新 2021 年全年展望。2024 年全年，我們預計預訂量將在 7.75 億美元至 8.75 億美元之間。總收入預計在 10.7 億美元至 11.1 億美元之間。非 GAAP EBITDA 預計將增至 1.05 億美元至 1.25 億美元。非 GAAP 每股收益預計將增至 1.20 美元至 1.50 美元。

Regarding our outlook for the third quarter of 2024, we are providing the following guidance. We expect total third-quarter 2024 revenues to be between $275 million and $285 million, with product revenues to be between $159 million and $164 million and services revenue between $116 million and $121 million.

關於 2024 年第三季的展望，我們提供以下指引。我們預計 2024 年第三季總營收將在 2.75 億美元至 2.85 億美元之間，其中產品收入將在 1.59 億美元至 1.64 億美元之間，服務收入將在 1.16 億美元至 1.21 億美元之間。

Given our second-quarter performance and our expectations for the third quarter, we expect the second half 2024 revenues trend to conform with historic seasonal patterns, in which second half total revenues are slightly above first half total revenues. We exited third-quarter 2024 non-GAAP EBITDA to be between $28 million and $34 million. We expect the third-quarter 2024 non-GAAP earnings per share to be between $0.34 per share and $0.44 per share.

考慮到我們第二季的業績和對第三季的預期，我們預計 2024 年下半年的收入趨勢將符合歷史季節性模式，其中下半年總收入略高於上半年總收入。2024 年第三季的非 GAAP EBITDA 為 2,800 萬至 3,400 萬美元。我們預計 2024 年第三季非 GAAP 每股盈餘將在每股 0.34 美元至 0.44 美元之間。

Non-GAAP EBITDA and non-GAAP EPS guidance for the third quarter 2024 reflects employee salary merit increases issued in early third quarter 2024, which would affect broad salary increases in two years as well as some seasonal expenses. For the full year 2024, we are continuing to assume an effective blended tax rate of approximately 19% in our non-GAAP earnings per share guidance.

2024 年第三季的非 GAAP EBITDA 和非 GAAP 每股盈餘指引反映了 2024 年第三季初發布的員工薪資績效成長，這將影響兩年內的廣泛薪資成長以及一些季節性費用。對於 2024 年全年，我們在非公認會計準則每股收益指引中繼續假設約 19% 的有效混合稅率。

Before I conclude, I would like to note that beginning in 2025, we anticipate providing you with additional information on our annual bookings' expectations. Specifically, beginning in 2025, we plan to begin providing a breakout of our product bookings and annual recurring revenue metric for our recurring services business. We believe this will assist in understanding and modeling our business. And as we continue to pivot towards driving reoccurring revenue, we expect it to be an important internal metric as we manage our business.

在結束之前，我想指出，從 2025 年開始，我們預計會向您提供有關我們年度預訂預期的更多資訊。具體來說，從 2025 年開始，我們計劃開始為我們的經常性服務業務提供產品預訂和年度經常性收入指標的細分。我們相信這將有助於理解和建模我們的業務。隨著我們繼續致力於推動經常性收入，我們預計它將成為我們管理業務時的重要內部指標。

In summary, we are pleased with our results for the second quarter of 2024. And I would now like to open the call for questions.

總而言之，我們對 2024 年第二季的業績感到滿意。現在我想開始提問。

(Operator Instructions) Stan Berenshteyn, Wells Fargo.

（操作員說明）Stan Berenshteyn，富國銀行。

Maybe first on product revenue. It was nice to see the quarter to be by $14 million. But looking at full year guidance, it looks like a midpoint of the guidance range actually came down by $7 million. Can you just walk us through what drove the beat in the quarter and what contributed to the guidance revision?

也許首先是產品收入。很高興看到本季營收成長了 1,400 萬美元。但從全年指導來看，指導範圍的中點實際上下降了 700 萬美元。您能否向我們介紹一下是什麼推動了本季的發展以及是什麼促成了指導意見的修訂？

Yes. Stan, thanks for the question. So what contributed to our revenue was increased. We saw a strong demand in point-of-care product portfolio as well as increased demand or strong performance from our -- for our specialty pharmacy services business. In terms of the full year, we're very confident about our guidance because we do have good visibility today to our implementation plan as well as what we consider to be a very healthy backlog. And so we do feel that we are in line to deliver our guidance for the full year.

是的。史丹，謝謝你的提問。所以對我們收入的貢獻增加了。我們看到了對即時護理產品組合的強勁需求，以及我們的專業藥房服務業務的需求增加或強勁表現。就全年而言，我們對我們的指導非常有信心，因為我們今天確實對我們的實施計劃以及我們認為非常健康的積壓工作有了很好的了解。因此，我們確實認為我們有能力提供全年指導。

So for the second quarter, was the beat driven more of a timing issue where you've got some business upfront. And then for the guidance range, was the top end of the guidance range revised down just as a function of bookings that you expected to burn that might not burn? Kind of how should we think about the puts and takes on that?

因此，對於第二季來說，節拍驅動的更多是時機問題，您需要提前獲得一些業務。然後，對於指導範圍，指導範圍的上限是否會根據您預計會燃燒但可能不會燃燒的預訂而下調？我們該如何思考這個問題的賣權和承擔選擇權？

No. So what we've provided from a guidance standpoint is primarily driven by what we believe will be continued strong demand for our specialty pharmacy services business. And the product revenues, we do believe will continue to perform well through the second half of the year. But it's again primarily driven by the implementation schedule that we have visibility to -- in the second half. But the first half was clearly driven by our point-of-care strong performance from a point-of-care standpoint.

不。因此，我們從指導的角度提供的內容主要是由我們相信對我們的專業藥房服務業務的持續強勁需求所推動的。我們相信產品收入將在今年下半年持續表現良好。但這又主要是由我們可以看到的下半年的實施時間表所驅動的。但從護理點角度來看，上半年的表現顯然是由我們的護理點強勁表現所推動的。

Got it. Okay. And then on the holistic review, it seems like you found some opportunities to save some costs. Can you size for us what kind of opportunities you found and maybe what the time line to capture those synergies would be?

知道了。好的。然後從整體來看，你似乎發現了一些節省一些成本的機會。您能否為我們估算您發現了哪些機會，以及捕捉這些綜效的時間軸是多少？

Yes. We're really looking at continuing to improve the performance in the second half of the year. And so we do expect that the cost savings will continue to -- contribute to our overall performance. We're fully focused on prudent expense management, and we do expect that, that will continue through the end of the year.

是的。我們確實希望在今年下半年繼續提高業績。因此，我們確實預期成本節約將繼續為我們的整體業績做出貢獻。我們完全專注於審慎的費用管理，我們確實預期這種情況將持續到今年年底。

Okay. And then maybe just a quick one -- I'm sorry, go ahead.

好的。然後也許只是快速的——對不起，請繼續。

No. Stan, it's Kathleen. I just want to go back to your product question, the initial one and point out that from where we sit today, based on where we were at the beginning of the year, we're less reliant on bookings to close the gap in product revenue. So the demand environment thus far has been good. And so we have confidence in the second half of the year from the product revenue standpoint.

不。史丹，是凱瑟琳。我只想回到你的產品問題，即第一個問題，並指出，從我們今天所處的位置來看，根據我們年初的情況，我們不太依賴預訂來縮小產品收入的差距。因此，迄今為止的需求環境一直良好。因此，從產品收入的角度來看，我們對下半年充滿信心。

Got it. Helpful. And then maybe just a very quick one. Would just love to get an update on the demand environment for your compounding and central pharmacy robotics solution?

知道了。有幫助。然後也許只是一個非常快的過程。只是想了解您的配藥和中央製藥機器人解決方案的需求環境的最新資訊嗎？

Yes, I think there's a lot of interest in that area because there's a need to solve a lot of the problem. With the new guidance that was given at the end of last year, we're finding ourselves having to continue to adjust some of the features and functions of our robot in order to help meet the efficiencies needed to get the ROI.

是的，我認為人們對該領域很感興趣，因為需要解決很多問題。根據去年年底給予的新指導，我們發現自己必須繼續調整機器人的一些特性和功能，以幫助滿足獲得投資回報所需的效率。

And so we still continue to deploy those robots but more slowly as we continue to build out the feature set that will help meet those regulations. So a lot of interest. We're still getting bookings, but the deployment is slower.

因此，我們仍然繼續部署這些機器人，但速度會更慢，因為我們繼續建立有助於滿足這些法規的功能集。所以很有興趣。我們仍在收到預訂，但部署速度較慢。

Scott Schoenhaus, KeyBanc.

斯科特·舍恩豪斯，KeyBanc。

Good quarter. You talked about the XT amplify a lot and you're seeing strong demand. Can I just ask you can provide more color there. the healthy demand you're seeing, how much of that on the product side is embedded in your guidance? I guess maybe context of how much of it is currently and then how much of it is embedded in your guidance for this year? And then I have a follow-up question again on the IVX cation and compounding. But first, I wanted to just drill more to the XT Amplify.

好季度。您多次談到 XT 放大器，並且看到了強勁的需求。我可以問你可以在那裡提供更多的顏色嗎？您看到的健康需求，產品方面的需求有多少包含在您的指導中？我想可能是目前有多少內容以及今年的指導包含了多少內容？然後我還有一個關於 IVX 陽離子和複合的後續問題。但首先，我想深入了解 XT Amplify。

Yes. The XT Amplify is really about a statement about the investment in the XT fleet. And so as we deploy that product, it gives customers confidence to not only upgrade their systems, but also expand as we did in a couple of examples and the call script. So the XT Amplify itself is not going to contribute a lot to the revenues this year.

是的。XT Amplify 實際上是關於 XT 機隊投資的聲明。因此，當我們部署該產品時，它讓客戶有信心不僅可以升級他們的系統，而且可以像我們在幾個範例和呼叫腳本中所做的那樣進行擴展。因此，XT Amplify 本身不會對今年的營收做出太大貢獻。

So most of those bookings that we're getting this year for the actual XT Amplify products, probably will hit next year. But it also gives customers confidence today to go ahead and upgrade their older G Series to XT Series because they see the investment in the XT systems. So it's building -- it's building XT Amplify is building in the backlog.

因此，我們今年收到的實際 XT Amplify 產品的大部分預訂可能會在明年實現。但這也讓客戶有信心繼續將舊的 G 系列升級到 XT 系列，因為他們看到了對 XT 系統的投資。所以它正在建設——它正在建設 XT Amplify 正在積壓中建設。

Really helpful, Randy. So I guess the natural follow-up there is and where are you on your upgrade cycle for the XT Series now versus last quarter that would be helpful.

真的很有幫助，蘭迪。因此，我想自然的後續行動以及您現在 XT 系列的升級週期與上季度相比處於什麼位置，這將會有所幫助。

Yes. I don't know if you have a stated number and maybe the call backs, we can dig that up for you. But we are at the end of the XT, but there are several customers that haven't upgraded the B series yet or all their G series yet. And so we're seeing that demand kind of become unlocked. And so as we finish the end of the XT Series, it's -- there's -- it probably unwinds probably most of it over the next 24 months.

是的。我不知道您是否有指定的電話號碼，也許還有回電，我們可以為您找到。但我們已經到了 XT 的最後階段，但還有一些客戶尚未升級 B 系列或所有 G 系列。因此，我們看到這種需求已被釋放。因此，當我們完成 XT 系列的終結時，它可能會在接下來的 24 個月內釋放大部分內容。

Matt Hewitt, Craig-Hallum Capital Group.

馬特·休伊特，克雷格-哈勒姆資本集團。

Congratulations on the strong quarter. Maybe first up, if you could talk a little bit about the XTEXtend pipeline, and I don't know if you're ready to talk a little bit about backlog. But obviously, it seems like there's been a strong reception. And if I'm correct, the turnaround of the implementations of the XTXtend should be much faster allowing for faster revenue conversion. Is that correct?

恭喜季度表現強勁。也許首先，您是否可以談談 XTExtend 管道，我不知道您是否準備好談談積壓的問題。但顯然，似乎受到了強烈的歡迎。如果我是對的，XTXtend 實施的周轉時間應該會快得多，從而實現更快的收入轉換。這是正確的嗎？

Yes, that is correct. And the pipeline has been building quite rapidly since the announcement. And I think along with the macroeconomic environment slowly improving. And probably really important to us, not just the ability to purchase the products but hospitals having the available manpower to actually assist in doing their part with the installation. And that particularly we saw in the second quarter, where all the things that we had scheduled were as planned. There were no slowdowns or speed ups.

是的，這是正確的。自宣布以來，管道建設一直非常迅速。而且我認為隨著宏觀經濟環境慢慢改善。對我們來說可能真正重要的不僅僅是購買產品的能力，而且醫院擁有可用的人力來實際協助完成安裝工作。尤其是我們在第二季度看到的，我們安排的所有事情都按計劃進行。沒有減速或加速。

And that really allows us to be more efficient and more predictable. And we think that environment will continue throughout the year. And you are correct. As you look at the XT console upgrades, those in particularly are not as much manpower to do. Now many of the times, we will also upgrade the servers which require us to get aligned with the IT department. And so that may be the only -- it takes a little bit of a time factor, but it doesn't take much of a people factor. And that's usually included in the Amplify upgrade.

這確實讓我們變得更有效率、更有可預測性。我們認為這種環境將持續一整年。你是對的。當您查看 XT 控制台的升級時，您會發現這些升級並不需要太多的人力來完成。現在很多時候，我們也會升級伺服器，這需要我們與IT部門保持一致。所以這可能是唯一的——需要一點時間因素，但不需要太多人因素。這通常包含在 Amplify 升級中。

And I would also add that, Matt, that it does take time to get into the capital approval process. So it is part of that process in addition to the IT, as Randy mentioned.

馬特，我還要補充一點，進入資本審批流程確實需要時間。因此，正如 Randy 所提到的，除了 IT 之外，它也是流程的一部分。

Got it. And then my second question is regarding gross margins. Obviously, a nice pop in product gross margins here this quarter. Is that something that we should anticipate kind of building from here as your volumes continue to recover? Or was there anything onetime in nature that hit in the second quarter?

知道了。我的第二個問題是關於毛利率。顯然，本季產品毛利率大幅成長。隨著你們的銷售量繼續恢復，我們是否應該預期從這裡開始建立的東西？或者第二季有什麼一次性的事情發生嗎？

Yes, Matt. We do expect our gross margin to continue to improve over time, especially as our advanced services business continues to scale. But most importantly, as we said during the prepared remarks, with our multiyear innovation strategy, we do expect that -- We will see some improvement in our margins as our business continues to grow. And there are also --

是的，馬特。我們確實預計我們的毛利率將隨著時間的推移而繼續提高，特別是隨著我們的高級服務業務不斷擴大。但最重要的是，正如我們在準備好的發言中所說，透過我們的多年創新策略，我們確實預計——隨著我們業務的持續成長，我們的利潤率將有所改善。而且還有--

David Larsen, BTIG.

大衛‧拉森，BTIG。

Randy, can you please talk a bit about advanced services and just remind us what are the key products within advanced services? I mean, I think you highlighted that on page 2 of the press report I think you list a couple of them. And what is the revenue contribution and the EBITDA margin for advanced versus in totality, please?

Randy，您能否談談高級服務並提醒我們高級服務中的關鍵產品是什麼？我的意思是，我認為您在新聞報道的第二頁上強調了這一點，我認為您列出了其中的幾個。請問，預付款與整體的收入貢獻和 EBITDA 利潤率分別是多少？

Thanks for the question, David. Yes, we have three major components in the bad services, specialty pharmacy, which is one of our fastest growing and building that we commented in the remarks. We're really pleased with that product line, which is setting up specialty pharmacies inside of hospitals as well as helping them to execute their 340B program locally as well as using our third-party 340B services as kind of a combination that we use there.

謝謝你的提問，大衛。是的，我們在糟糕的服務中擁有三個主要組成部分，即專業藥房，這是我們在評論中評論的增長最快和建設的項目之一。我們對產品線感到非常滿意，該產品線在醫院內設立專業藥房，幫助他們在本地執行 340B 計劃，並使用我們的第三方 340B 服務作為我們在那裡使用的組合。

Secondly is our Live and Health, which is primarily focused at retail and outpatient pharmacies. We continue to see that grow. We've signed up some nice customers, and we believe that ARR is going to continue to grow, and that's some more relatively high gross margin business.

其次是我們的生活與健康，主要針對零售和門診藥局。我們將繼續看到這種增長。我們已經簽約了一些不錯的客戶，我們相信ARR會繼續成長，而且是一些毛利率相對較高的業務。

And then -- and lastly is the advanced services portion of products that are robotic. So IV and robots that are placed in pharmacies to run the XR2. Those as well are growing as customers continue to buy these systems and place them and put them in place. So those are the three major components of our advanced services, and we feel really good about both the growth and they're scaling to get margin.

最後是機器人產品的高階服務部分。因此，IV 和放置在藥房中運行 XR2 的機器人。隨著客戶不斷購買這些系統並將其安裝到位，這些系統也不斷成長。這些是我們先進服務的三個主要組成部分，我們對它們的成長以及它們正在擴大規模以獲取利潤感到非常滿意。

Great. And what percentage of revenue and what is the EBITDA margin for advanced services? And then what are the components of -- I think you described it as like TEZ, tech-enabled services and also consumables. So it seems like in addition to advanced services, there is this other sort of piece of recurring revenue. I'm just trying to get a sense for what is -- like your total recurring revenue is the advanced services portion of that and what the EBITDA margin is of those pieces?

偉大的。高級服務的收入百分比是多少？然後，我認為您將其描述為 TEZ、技術支援的服務和消耗品。因此，除了高級服務之外，似乎還有其他類型的經常性收入。我只是想了解一下，例如您的總經常性收入是其中的高級服務部分，以及這些部分的 EBITDA 利潤率是多少？

Yes. Just to be clear, those three services that I just articulated are the advanced service. We have tax services which are big fixed services, which is not part of the advanced service, but it is a service. We also sell consumables products and that is not part of -- it's a product. And so it's not part of the advanced services either.

是的。需要明確的是，我剛才提出的這三項服務是高級服務。我們的稅務服務是大的固定服務，不屬於高級服務的一部分，但它是一項服務。我們也銷售消耗品，但這不是產品的一部分。因此它也不屬於高級服務的一部分。

But the advanced services are the new lines that we've built up over the last few years to create more solutions for our customers that enable us to solve problems that they can't solve without it being in the form of a service. And the breakout of the EBITDA, I'll leave that up to the finance team to describe that.

但高級服務是我們在過去幾年中建立的新產品線，旨在為我們的客戶創造更多解決方案，使我們能夠解決他們在不以服務的形式無法解決的問題。至於 EBITDA 的突破，我將由財務團隊來描述。

Yes. So the EBITDA today is growing and it's -- we do expect it to continue to grow as the business -- the advanced services businesses continue to scale.

是的。因此，今天的 EBITDA 正在成長，我們確實預計它會隨著業務的發展而繼續成長——先進服務業務的規模不斷擴大。

Yes. And just specifically, Dave, so advanced services, we expect this year to be about 21% of our revenue. That's just for the advanced services part. The others that you mentioned, consumables and then our tech services, which you can think about more like field service brings the total recurring revenues to about 50%. So 21% or so for advanced services, with the remainder being consumables and technical services, bringing the total to 50% of revenue for the year for 2024.

是的。戴夫，具體來說，如此先進的服務，我們預計今年將占我們收入的 21% 左右。這只是高級服務部分。您提到的其他產品、消耗品以及我們的技術服務（您可以將其視為現場服務）使總經常性收入達到約 50%。因此，高級服務佔 21% 左右，其餘為消耗品和技術服務，使 2024 年總收入達到 50%。

Bill Sutherland, The Benchmark Company.

比爾·薩瑟蘭，基準公司。

Randy, I'm curious this deal that you just mentioned with Select Medical, is that to introduce XT to their systems? What was the takeaway?

Randy，我很好奇您剛才提到的與 Select Medical 的這筆交易，是為了將 XT 引入他們的系統嗎？外賣是什麼？

Yes, that was a competitive swap. Yes, it was.

是的，那是一次競爭性交換。是的，確實如此。

Good for you. Okay. And then just one little housekeeping question, Nchacha. At the midpoint on the EBITDA guidance, it implies that the second quarter will be the biggest EBITDA quarter in the year? Just trying to understand the cadence.

對你有好處。好的。然後是一個小內務問題，Nchacha。在 EBITDA 指引的中點，是否意味著第二季將是年內 EBITDA 最高的季度？只是想了解節奏。

Yes. Our second-quarter EBITDA is primarily driven again by the line of sight that we have today to our planned implementations. And so we do expect this to be in line with our historical patents. Yes. In Q3, we have some extra expenses, right and pay increases and season expenses second half of the year.

是的。我們第二季的 EBITDA 主要再次受到我們今天對計劃實施的關注的推動。因此，我們確實希望這與我們的歷史專利保持一致。是的。在第三季度，我們有一些額外的費用，權利和加薪以及下半年的季節費用。

Okay. I figured it was something like that. And then it looks like just doing the math at the midpoint for the year, fourth quarter EBITDA is kind of in line with third quarter. And anything I should think about relative to that?

好的。我想是這樣的。然後看起來，只要在今年的中點進行數學計算，第四季的 EBITDA 與第三季是一致的。與此相關我該考慮什麼？

I mean we do feel confident about our second half of the year, including our EBITDA.

我的意思是，我們確實對下半年的業績充滿信心，包括我們的 EBITDA。

Stephanie Davis, Barclays.

史蒂芬妮戴維斯，巴克萊銀行。

This is Anna Kruszenski on for Stephanie. Congrats on the quarter. I was hoping to talk a little bit about guidance and your visibility for the rest of the year? And just what are the key swing factors that could get you to the high versus low end of the range?

這是史蒂芬妮的安娜·克魯森斯基。恭喜本季。我希望能談談今年剩餘時間的指導和您的知名度？到底哪些關鍵波動因素可以讓您達到範圍的高端與低端？

Yes. So again, as we've said in the prepared remarks, we're very comfortable about our full year guidance and especially in this case, the second half of the year primarily is driven by visibility to our plant implementations, number one. And we do -- considering our strong first half, we're going into the second half with a very high-quality backlog we do expect that our second half will definitely be in line with what we've seen from a historical parking standpoint. We do feel very confident that we will be able to deliver on the guidance that we've provided.

是的。因此，正如我們在準備好的演講中所說，我們對全年指導感到非常滿意，特別是在這種情況下，下半年主要是由我們工廠實施的可見性驅動的，這是第一。我們確實如此——考慮到我們強勁的上半年，我們將以非常高品質的積壓進入下半年，我們確實預計我們的下半年肯定會與我們從歷史停車的角度看到的情況一致。我們確實非常有信心能夠兌現我們所提供的指導。

Yes. If I could add one other component there is that because hospitals are not as constrained on the employee side and more ready to accept these installations. We have hardened schedules for the next that we believe we won't see any disruptions. And so the high end of the guidance is about keeping to those schedules that these health care systems have put in place and our new processes have really kicked in to allow us to give us this longer-term view.

是的。如果我可以添加另一個組件，那就是因為醫院在員工方面不受限制，並且更願意接受這些安裝。我們已經制定了接下來的時間表，我們相信不會出現任何中斷。因此，指導的高端是遵守這些醫療保健系統已經制定的時間表，並且我們的新流程已經真正啟動，使我們能夠給出更長期的觀點。

Got it. That's super helpful and actually kind of leaked into my follow-up. I was wondering to what extent the improving industry labor trends such as lower contract labor mix did impact the higher revenue outlook? And just how are you thinking about the industry labor trends at your customers for the rest of the year?

知道了。這非常有幫助，實際上有點滲透到我的後續行動中。我想知道不斷改善的行業勞動力趨勢（例如較低的合約勞動力組合）在多大程度上影響了更高的收入前景？您如何看待今年剩餘時間內客戶的產業勞動趨勢？

Yes, I kind of think of it on a several different views. One is nursing is always a very sensitive area. And to the point that we can put features and functions and innovations that help nursing. It tends to be very key, and XT Amplify does have feature sets and product profiles that really help nurses. And so that's one reason it resonates well with the market.

是的，我從幾個不同的角度來思考這個問題。一是護理始終是非常敏感的領域。以至於我們可以添加有助於護理的特性、功能和創新。它往往非常關鍵，XT Amplify 確實擁有真正幫助護理師的功能集和產品設定檔。這就是它能引起市場良好共鳴的原因之一。

But on the tech side and the pharmacy side, those who help implement the system, those who are responsible with the implementation process, we've seen some relief there. And that gives pharmacies confidence that they can put these systems in place and get good results. And because we see that pressure lessening, we can get commitments with customers a lot further out on the kinds of things we want to do and can do.

但在技術方面和製藥方面，那些幫助實施該系統的人，那些負責實施過程的人，我們看到了一些緩解。這讓藥局相信他們可以將這些系統安裝到位並獲得良好的結果。因為我們看到壓力減輕了，所以我們可以就我們想做和可以做的事情向客戶做出更進一步的承諾。

And you have to remember, in some of the cases, we're installing robots. Sometimes you have to prepare the floor, bring in extra electrical, do things that are just beyond basic things that ADCs don't require much improvement, but robots do take some improvement. So seeing that they have the labor and time and money and willingness to do that is definitely changing.

你必須記住，在某些情況下，我們正在安裝機器人。有時你必須準備地板，引入額外的電力，做一些超出基本事情的事情，ADC不需要太多改進，但機器人確實需要一些改進。因此，看到他們有勞動力、時間、金錢和意願去做這件事，肯定會改變。

Allen Lutz, Bank of America.

艾倫·盧茨，美國銀行。

One for Randy or Nchacha. As we think about the gross margin performance in the product segment. Can you talk about the current pricing environment there on the product side? Has that changed at all over the past six months? And then is there any type of change to the competitive landscape that you've seen over the past six months or so?

一份給蘭迪或恩查查。當我們考慮產品領域的毛利率表現。能談談目前產品方面的定價環境嗎？過去六個月這種情況有改變嗎？那麼在過去六個月左右的時間裡，您看到競爭格局有什麼類型的變化嗎？

No. There's -- I don't think there's been any major changes to our pricing or we haven't seen any impact of our services. I think we continue to be very disciplined in our approach there. And we feel like that customers are really interested in platform plays and platforms are less plays or less sensitive to pricing than product pricing, if you will. And to that extent, it's been very, very positive for us.

不。我認為我們的定價沒有任何重大變化，或者我們沒有看到我們的服務產生任何影響。我認為我們在這方面的做法仍然非常自律。我們覺得客戶對平台遊戲確實很有興趣，如果你願意的話，平台對定價的敏感度比產品定價少。從這個意義上說，這對我們來說是非常非常積極的。

Got it. And then as we think about the macro environment may be becoming a little bit more accommodative and some of the green shoots starting to show. As you think about some of the macro factors and then where you are in terms of the XT upgrade cycle, what do you think is more important as you think about the next maybe one, two or three years, is the macro going to be a more important driver here? Or is it going to be more around the pickup of that upgrade that you put out there?

知道了。然後，當我們考慮宏觀環境可能會變得更加寬鬆一些時，一些新芽開始顯現。當您考慮一些宏觀因素以及 XT 升級週期方面的情況時，當您考慮未來一年、兩年或三年時，您認為更重要的是宏觀因素將是這裡更重要的驅動程式？或者它會更多地圍繞您發布的升級的拾取嗎？

Yes, I think it's important for us to continue to innovate because at the end of the day, hospitals need systems that drive efficiency, meet the demands of pharmacy and nursing and meet the demands of other places than inpatient. They need products in outpatient.

是的，我認為繼續創新對我們來說很重要，因為歸根結底，醫院需要能夠提高效率、滿足藥房和護理需求以及滿足住院以外其他地方的需求的系統。他們需要門診產品。

As you've seen in many of the public hospital reports that their outpatient is being driven -- is driving a lot of profits and growth. And so as we innovate, we want to make sure that we have this holistic enterprise solution that really meets the what our customer needs are, which are a much better market. So I think that's going to have the biggest impact on our growth profile.

正如您在許多公立醫院報告中看到的那樣，他們的門診量正在推動——正在推動大量利潤和成長。因此，當我們創新時，我們希望確保我們擁有真正滿足客戶需求的整體企業解決方案，這是一個更好的市場。所以我認為這將對我們的成長狀況產生最大的影響。

Jessica Tassan, Piper Sandler.

傑西卡·塔桑，派珀·桑德勒。

So I wanted to just ask, I'm curious if your go-to-market will change as you kind of get deeper into the XT Amplify cycle. Have you changed the structure of your sales force or realigned the sales force? And I guess, can you give us any stats on the average tenure of a sales leader just so that we can get confidence that these consultative and kind of long-term relationships exists that provide hurdle hunting ground for some of these XT Amplify amplified products.

所以我想問一下，我很好奇，隨著您深入 XT Amplify 週期，您的市場走向是否會改變。您是否改變了銷售團隊的架構或重新調整了銷售團隊？我想，您能否給我們提供有關銷售領導者平均任期的任何統計數據，以便我們能夠確信這些諮詢和長期關係的存在，為某些 XT Amplify 放大產品提供了障礙狩獵場。

Yes. I think it's -- we have a great structure in our sales force, particularly for our larger customers. We have dedicated executives as well as success managers focused on those accounts. And then as the XT Amplify, it's not about a product upgrade. It's about really an enterprise rollout that allows you to access more solution sets and deliver more results.

是的。我認為我們的銷售團隊有一個很好的結構，特別是對於我們的大客戶。我們有專門的主管和成功經理專注於這些客戶。然後作為 XT Amplify，它並不是產品升級。這實際上是企業部署，可讓您存取更多解決方案集並交付更多結果。

So the XT Amplify is really a spearhead and a great reason for every sales rep for every customer to have the meeting with the customer. So that's why the pipeline is building very well, it's because it's a great go-to-market conversation and will drive -- be the center of driving a lot of results for the next couple of years.

因此，XT Amplify 確實是每位銷售代表與每位客戶會面的先鋒和重要理由。這就是為什麼管道建設得非常好，因為這是一次很好的進入市場對話，並將成為未來幾年推動大量成果的中心。

Anne Samuel, JPMorgan.

安妮‧塞繆爾，摩根大通。

You've spoken a few times today about the improving macro environment. And I was hoping maybe you could just touch on what your conversations with your customers have been like around their financials and maybe what some of the key metrics that you're tracking are? And then finally, just how you're thinking about the rate of change of improvement in the macro as it relates to your pipeline.

您今天多次談到宏觀環境的改善。我希望您能談談您與客戶圍繞他們的財務狀況進行的對話，以及您正在追蹤的一些關鍵指標是什麼？最後，您如何考慮與您的管道相關的宏觀改進的變化率。

Yes. Usually, our -- one of the key indicators of macro improvements as we discuss customers is their expansions. All customers generally are having some kind of expansion from merger and acquisition, opening up new centers, opening up new clinics. And in that conversation, that means these health systems are investing and expanding their footprint. And that's a key indicator.

是的。通常，當我們討論客戶時，宏觀改進的關鍵指標之一是他們的擴張。所有客戶通常都會透過併購、開設新中心、開設新診所進行某種擴張。在那次對話中，這意味著這些衛生系統正在投資並擴大其足跡。這是一個關鍵指標。

When you see our health systems and our key customers that we walk into and in the last 48 hours, I was in three of our largest ones. All of them are expanding their footprint, which means they are healthy. They have a strategic goals to not only improve efficiency, but to keep those patients in their system and make sure medication management is central to that engagement with the patient.

當你看到我們的衛生系統和我們在過去 48 小時內走進的主要客戶時，我身處我們最大的三個系統。他們所有人都在擴大足跡，這意味著他們都很健康。他們的策略目標不僅是提高效率，而且是將這些患者保留在他們的系統中，並確保藥物管理是與患者互動的核心。

When I go to a site and they're not expanding as the kind of stand-alone is they're not moving out, it's harder for them to invest in our systems as if they're not investing in their footprint. And I would say that's a key indicator that we follow for the trend because usually all expansions require us to get engaged because they want to put our systems in where they're expanding.

當我去一個網站時，他們沒有像獨立的那樣擴張，因為他們沒有搬出去，他們很難投資我們的系統，就好像他們沒有投資他們的足跡。我想說，這是我們遵循趨勢的關鍵指標，因為通常所有擴展都要求我們參與，因為他們希望將我們的系統放在他們正在擴展的地方。

Thank you for your question. And ladies and gentlemen, that will conclude the Q&A portion of today's call. I would like to turn the call back over to Lipps for closing remarks.

謝謝你的提問。女士們、先生們，今天電話會議的問答部分就到此結束。我想將電話轉回給利普斯，讓他發表結束語。

Well, thank you for joining us today, and it's sure -- it is nice to see the company return to a healthy position to which we can create a multiyear growth and expansion strategy. I really want to thank the Omnicell team for their focus over the last six to nine months to get us to this point. And it's just exciting to see all of these new products and new customers coming on board.

好吧，感謝您今天加入我們，很高興看到公司恢復到健康的狀態，我們可以製定多年的成長和擴張策略。我真的要感謝 Omnicell 團隊在過去六到九個月的專注，讓我們走到了這一步。看到所有這些新產品和新客戶的加入真是令人興奮。

Thank you. And ladies and gentlemen, that will conclude today's call. Thank you for joining. We'll see you next time. Have a great day.

謝謝。女士們、先生們，今天的電話會議到此結束。感謝您的加入。我們下次再見。祝你有美好的一天。