Omnicell Inc (OMCL) 2024 Q3 法說會逐字稿

Thank you for standing by. My name is John and I'll be your conference operator today. Please note that today's meeting is being recorded. (Operator instructions) Thank you.

謝謝你的支持。我叫約翰，今天我將擔任你們的會議操作員。請注意，今天的會議正在錄製中。（操作員說明）謝謝。

I would now like to turn the call over to Kathleen Nemeth, Senior Vice President, Investor Relations. Please go ahead.

我現在想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 third quarter, 2024. Financial results conference call. On the call with me today are Randall Lipps, Omnicell Chairman, President CEO and founder and Nchacha Etta, executive Vice President and Chief Financial Officer.

早安，歡迎來到 Omnicell 2024 年第三季。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 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 performance or other statements regarding Omnicell's plans, strategy, objectives, goals, expectations, planned investments, expense management initiative, the new Chief Operating Officer appointment, products services or solutions, our ability to deliver more consistent performance and drive long term success 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.

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、目的、目的、期望、計劃投資、費用管理計劃、新營運長任命、產品服務或解決方案相關的其他陳述，我們提供更一致的業績並推動長期成功的能力或市場或公司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。

For a more detailed description of the risks that impact these forward-looking statements. Please refer to the information in our press release issued this morning 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 under reliance on any forward-looking statements made today. 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.

有關影響這些前瞻性陳述的風險的更詳細描述。請參閱我們今天上午發布的新聞稿中的信息，其中包括 2024 年 2 月 28 日向 SEC 提交的 Omnicell 10-K 年度報告以及向 SEC 提交的其他最新報告。請注意，您不應依賴今天發表的任何前瞻性陳述。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。

Our results were released this morning on our posted in the investor relations section of our website at ir.omnicell.com. 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 is posted on our investor relations website.

我們的業績於今天早上發佈在我們網站 ir.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。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的財務業績新聞稿中，並發佈在我們的投資者關係網站上。

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.

關於前瞻性非公認會計原則措施。我們不會在前瞻性的基礎上提供前瞻性非公認會計原則指標與可比較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 third quarter of 2024 and our updated outlook for the remainder of the year. Omnicell delivered another solid quarter. We remain focused on consistent execution, driving our business to generate more recurring and predictable revenues, investing in and delivering outcome centric innovation and empowering our people to support our customers, not only where they are today but where they will be in the future.

謝謝你，凱瑟琳。早安，感謝大家與我們一起討論 2024 年第三季的財務表現以及今年剩餘時間的最新展望。Omnicell 又實現了穩健的季度業績。我們仍然專注於一致的執行，推動我們的業務產生更多的經常性和可預測的收入，投資和提供以結果為中心的創新，並授權我們的員工支持我們的客戶，不僅是他們現在的情況，而且是他們未來的情況。

We firmly believe that transforming the pharmacy care delivery model will result in positive customer experiences and improved patient outcomes. Now, before I get into the industry trends, we are seeing in our third quarter, financials, I would like to formally welcome Nnamdi Njoku to Omnicell.

我們堅信，轉變藥局服務提供模式將帶來積極的客戶體驗並改善患者的治療結果。現在，在我進入行業趨勢之前，我們將看到第三季的財務狀況，我想正式歡迎 Nnamdi Njoku 加入 Omnicell。

During the quarter, we announced the appointment of Nnamdi to the newly created role of Chief Operating Officer. As I have shared with you over the last several quarters, we are working diligently to strengthen the company's financial performance and operational excellence while taking a customer first approach to our strategy and business transformation. As we scale our business, we believe that having Nnamdi in this role to lead and drive our operational change management initiatives and the evolution of our culture of care will be vital in delivering enhanced shareholder returns.

本季度，我們宣布任命 Nnamdi 擔任新設立的營運長一職。正如我在過去幾個季度與您分享的那樣，我們正在努力加強公司的財務業績和卓越運營，同時採取客戶至上的方法來實施我們的策略和業務轉型。隨著我們業務規模的擴大，我們相信讓 Nnamdi 擔任這一角色來領導和推動我們的營運變革管理計劃以及我們關懷文化的發展對於提高股東回報至關重要。

Whether it be supporting our objective to deliver consistent GAAP profitability or helping shift our company further towards a service and solutions-based model, we believe a clear commitment to operational excellence will be essential to our long-term success.

無論是支持我們實現一致的 GAAP 獲利能力的目標，還是幫助我們的公司進一步轉向基於服務和解決方案的模式，我們相信，對卓越營運的明確承諾對於我們的長期成功至關重要。

I know I speak for everyone here at Omnicell and welcoming Nnamdi to our team. Now let's turn to a review of the macroeconomic landscape. We are pleased to note that we are seeing signs of continued stabilization in our end markets coupled with improving provider fundamentals, these market conditions are generally favourable for creating increased demand for capital projects and system modernization through automation software and analytics.

我知道我代表 Omnicell 的所有人發言，並歡迎 Nnamdi 加入我們的團隊。現在讓我們回顧一下宏觀經濟情勢。我們很高興地註意到，我們看到終端市場持續穩定的跡象，加上供應商基本面的改善，這些市場條件通常有利於透過自動化軟體和分析創造對資本項目和系統現代化的需求增加。

We are continuing to invest in next generation upgrades and outcomes-based solutions, XT fleet of automated medication dispensing systems as well as making investments in specialty pharmacy services. We remain excited as we move forward on our multi-year journey here at Omnicell and we believe a refresh product portfolio including XT amplify is resonating well with our customers and is addressing our customers focus on the future of health care, whether in an acute or an outpatient setting.

我們將繼續投資下一代升級和基於結果的解決方案、XT 自動化配藥系統系列，並對專業藥房服務進行投資。當我們在Omnicell 的多年旅程中前進時，我們仍然感到興奮，我們相信包括XT amplify 在內的更新產品組合與我們的客戶產生了良好的共鳴，並讓我們的客戶專注於醫療保健的未來，無論是在急性還是門診環境。

Now turning to our quarterly financials, we are pleased to revise our full year outlook for 2024, as part of which we are raising our profitability guidance ranges as our global team continues to take what we believe are deliberate and disciplined actions on expense management while embracing our objective to streamline our internal processes and systems. And while it is early, this appears to be bearing fruit in terms of improved forecasting and business planning.

現在轉向我們的季度財務數據，我們很高興修改2024 年全年展望，作為其中的一部分，我們提高了盈利指導範圍，因為我們的全球團隊繼續在費用管理方面採取我們認為是深思熟慮和有紀律的行動，同時擁抱我們的目標是簡化我們的內部流程和系統。雖然還為時過早，但這似乎在改進預測和業務規劃方面取得了成果。

Turning to our third quarter results, we delivered solid results that were generally in line with or exceeded the upper end of our guidance ranges, which we believe reflects strong demand for Omnis products and services and sound execution by our global team.

談到第三季的業績，我們取得了穩健的業績，總體上符合或超過了我們指導範圍的上限，我們相信這反映了對 Omnis 產品和服務的強勁需求以及我們全球團隊的良好執行力。

Our third quarter, 2024 total revenue was $282 million representing a sequential increase of $6 million over the prior quarter and a decrease of $16 million over third quarter 2023. Third quarter, 2024 earnings per share in accordance with GAAP or a profit of $0.19 per share compared to a profit of $0.8 per share in the prior quarter and profit of $0.12 per share in the third quarter 2023. Our third quarter 2024 non-GAAP earnings per share were $0.56 compared with $0.51 per share in the prior quarter and $0.62 per share in the same period last year.

我們 2024 年第三季的總營收為 2.82 億美元，比上一季連續增加 600 萬美元，比 2023 年第三季減少 1,600 萬美元。根據 GAAP 計算，2024 年第三季每股收益為 0.19 美元，而上一季每股利潤為 0.8 美元，2023 年第三季每股獲利為 0.12 美元。2024 年第三季非 GAAP 每股盈餘為 0.56 美元，上一季每股收益為 0.51 美元，去年同期每股收益為 0.62 美元。

Third quarter 2024 non-GAAP EBITDA was $39 million, a decrease of $1 million compared to the previous quarter and a decrease of $2 million when compared to the same period last year. Nchacha will provide more details of the drivers for this quarter's performance as well as further details regarding our outlook for the remainder of the year.

2024年第三季非GAAP EBITDA為3,900萬美元，較上一季減少100萬美元，較去年同期減少200萬美元。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。

I'll now highlight a few of the key customer wins in the third quarter. I'm pleased with the team's achievements this quarter. We are successfully positioning our full portfolio of solutions to address our customers medication management needs across the care continuum.

現在，我將重點介紹第三季贏得的一些關鍵客戶。我對團隊本季所取得的成就感到滿意。我們成功地定位了完整的解決方案組合，以滿足客戶在整個護理過程中的藥物管理需求。

We are also seeing continued momentum from the XD Amplified Program, and we are seeing some positive signs that this is resonating with the market. We are embracing an agile and innovative approach to foster more flexible and responsive engagement which we believe will result in better customer experiences.

我們還看到 XD 放大計劃的持續勢頭，並且我們看到一些積極的跡象表明這正在引起市場共鳴。我們正在採用敏捷和創新的方法來促進更靈活和響應更快的參與，我們相信這將帶來更好的客戶體驗。

Our multi-year XT Amplify Innovation program that we announced earlier this year appears to be gaining market momentum with several new customers choosing these offerings in an effort to maximize value across their health systems. A Minnesota based nonprofit health system selected Omnicell as its long-term partner to standardize medication management across 12 hospital campuses by upgrading their fleet of point of care solutions.

我們今年稍早宣布的多年 XT Amplify 創新計畫似乎正在獲得市場動力，一些新客戶選擇了這些產品，以最大限度地提高整個醫療系統的價值。明尼蘇達州的一個非營利醫療系統選擇 Omnicell 作為其長期合作夥伴，透過升級其護理點解決方案系列來標準化 12 個醫院園區的藥物管理。

Through XT and XT extend, which is an integral part of our XT Amplify Innovation program. They seek to enhance the clinician experience as well as safety and security. You may have seen in some of the reporting on the recent weather events that a production shutdown due to hurricanes has resulted in instances of IV fluid shortages, shining a light on the need for health systems to have greater control of their IV supply chain and strategies to mitigate the potential impact of shortages.

透過 XT 和 XT 擴展，這是我們 XT Amplify 創新計劃的組成部分。他們尋求增強臨床醫師的經驗以及安全保障。您可能在一些有關最近天氣事件的報告中看到，由於颶風導致生產停工，導致靜脈輸液短缺，這表明衛生系統需要更好地控制其靜脈輸液供應鏈和策略以減輕短缺的潛在影響。

A nonprofit health system in Ohio signed a five-year IV compounding service agreement in an effort to help optimize IV compounding accuracy, safety and importantly supply chain control. The health system also upgraded their existing point of care solutions across nine hospitals as it looks to enhance safety and security benefiting from innovations delivered through our XT Amplify program.

俄亥俄州的一個非營利性衛生系統簽署了一份為期五年的靜脈注射配製服務協議，旨在幫助優化靜脈注射配製的準確性、安全性以及重要的供應鏈控制。該衛生系統還升級了九家醫院現有的護理點解決方案，希望透過我們的 XT Amplify 計劃提供的創新來增強安全性和保障。

While automated dispensing cabinets are the standard of care on nursing floors. Adoption of automation in the operating room setting has often lagged a leading academic medical centre in Boston chose to extend its partnership with Omnicell, expanding its automation footprint to all operating rooms across the system with our anesthesia workstation.

而自動分配櫃是護理樓層的護理標準。手術室環境中自動化的採用往往落後於波士頓一家領先的學術醫療中心選擇擴大與 Omnicell 的合作夥伴關係，透過我們的麻醉工作站將其自動化足跡擴展到整個系統的所有手術室。

This is in addition to the XT automated dispensing cabinet upgrades and XT amplified products they purchased. Our Anesthesia workstation with an integrated label printer is intended to help the medical centre enhance patient safety and medication security in perioperative settings. Advanced services delivered another quarter of solid performance.

這是他們購買的 XT 自動分配櫃升級和 XT 放大產品的補充。我們的麻醉工作站配有整合式標籤印表機，旨在幫助醫療中心提高圍手術期患者的安全和用藥安全。先進服務又實現了四分之一的穩健業績。

One highlight is a large health system in the southeast that selected Omnicell's Central Pharmacy Dispensing Service in an effort to enable improved medication dispensing operations. Adopting the XR2 robot within its central pharmacy as the 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.

其中一個亮點是東南部的一個大型衛生系統選擇了 Omnicell 的中央藥房配藥服務，以改善藥物配藥操作。在其中心藥房採用 XR2 機器人作為護理標準應有助於簡化藥物儲存、揀選和分發。它還旨在優化庫存管理，從而推動臨床和營運成果的提高。

Omnicell's Specialty Services continues to help enable customers to enhance their in-house specialty pharmacy programs to serve more patients, optimize care and improve performance. In the third quarter, we opened two new specialty pharmacies for health system customers. Our enlivened health brand part of our advanced services portfolio continues to deliver SaaS solutions designed to help retail pharmacies and health systems, optimize patient care and drive improved performance.

Omnicell 的專業服務繼續幫助客戶增強其內部專業藥房計劃，以服務更多患者、優化護理並提高績效。第三季度，我們為醫療系統客戶開設了兩家新的專業藥局。我們活躍的健康品牌是我們先進服務組合的一部分，繼續提供 SaaS 解決方案，旨在幫助零售藥房和衛生系統、優化患者護理並提高績效。

Several of our health system customers including large health systems in Georgia and Michigan have selected enlivens patient engagement and clinical solutions as they seek to enhance medication management outcomes across the continuum of care. We believe these health systems are recognizing the need for comprehensive solutions that extend beyond the four walls of the hospital and are choosing Omnicell to support a better patient experience. Everywhere patients receive care.

我們的一些醫療系統客戶，包括喬治亞州和密西根州的大型醫療系統，在尋求提高整個護理過程中的藥物管理效果時，選擇了活躍患者參與和臨床解決方案。我們相信這些衛生系統正在認識到對超越醫院四牆的綜合解決方案的需求，並選擇 Omnicell 來支持更好的患者體驗。到處都有病人得到照顧。

In summary, Omnicell delivered a strong third quarter. The team is stepping up and taking actions that are intended to improve our financial performance and operational excellence and deliver consistent results. I'm very proud of our team's enthusiasm and focus on outcomes-centric innovation, customer success and our purpose to be the health providers, most trusted partner to enable the autonomous pharmacy transformation.

總而言之，Omnicell 第三季業績強勁。該團隊正在加緊採取行動，旨在提高我們的財務業績和卓越運營，並提供一致的結果。我為我們團隊的熱情和專注於以結果為中心的創新、客戶成功以及我們成為健康提供者、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。

Every day, I see Omnicell employees showing up for each other for our customers and for our communities. And it is this commitment and focus that is driving more consistent financial performance we have work to do, but I'm confident we are on our way to delivering long term consistent results as we progress along our multi-year growth journey. Thank you for your support of Omnicell as we work diligently to modernize and transform the pharmacy care delivery model.

每天，我都會看到 Omnicell 員工為我們的客戶和社區相互奉獻。正是這種承諾和關注正在推動我們的財務表現更加一致，我們還有很多工作要做，但我相信，隨著我們在多年增長之旅中取得進展，我們正在實現長期一致的業績。感謝您對 Omnicell 的支持，我們正在努力實現藥局護理服務模式的現代化和轉型。

At this point, I'd like to turn the call over to our Chief Financial Officer Nchacha Etta for a more detailed review of our third quarter financial performance and revised guidance. Nchacha?

此時，我想將電話轉給我們的財務長 Nchacha Etta，以更詳細地審查我們第三季的財務業績和修訂後的指導。尼查查？

Thank you, Randall. We delivered solid third quarter financial results generally in line with or higher than our previously stated guidance. We believe this reflects the stabilizing macroeconomic environment as well as our commitment to consistent execution and our focus on expense control and process improvements.

謝謝你，蘭德爾。我們交付了穩健的第三季財務業績，整體符合或高於我們先前規定的指導。我們相信，這反映了穩定的宏觀經濟環境以及我們對一致執行的承諾以及對費用控制和流程改進的關注。

I am going to walk you through some of the drivers for our third quarter 2024 performance as well as our updated 2024 full year guidance. Total revenue came in at the upper end of our previously issued guidance range while non-GAAP earnings per share and non-GAAP EBITDA exceeded our previously provided third quarter guidance. I am proud of the omni sales team who continue to demonstrate their commitment to our promise and our guiding principles on a daily basis.

我將向您介紹 2024 年第三季業績以及更新的 2024 年全年指引的一些驅動因素。總收入處於我們之前發布的指導範圍的上限，而非 GAAP 每股收益和非 GAAP EBITDA 超過了我們之前提供的第三季度指引。我為全能銷售團隊感到自豪，他們每天都繼續履行我們對我們的承諾和指導原則的承諾。

Our third quarter 2024 total revenues were $282 million, an increase of $6 million over the prior quarter and a decrease of $16 million over the third quarter of 2023. Revenues in the third quarter were aided by the strong performance of our advanced services including enlivened health and specialty pharmacy services.

我們2024年第三季的總營收為2.82億美元，比上一季增加600萬美元，比2023年第三季減少1,600萬美元。第三季的收入得益於我們先進服務的強勁表現，包括活躍的健康和專業藥房服務。

Product revenues were $158 million an increase of $2 million over the previous quarter and down $30 million compared to the third quarter of 2023. Product revenues in the third quarter of 2024 decreased compared to the third quarter of 2023 primarily due to lower volumes from our automated dispensing systems business. Service revenues were $124 million. An increase of $4 million over the previous quarter and an increase of $14 million over the third quarter of 2023.

產品收入為 1.58 億美元，比上一季增加 200 萬美元，比 2023 年第三季減少 3,000 萬美元。與 2023 年第三季相比，2024 年第三季的產品收入有所下降，主要是由於我們的自動點膠系統業務銷售下降。服務收入為 1.24 億美元。比上一季增加 400 萬美元，比 2023 年第三季增加 1,400 萬美元。

Similar to last quarter, both technical services and advanced services contributed to the good compared to the third quarter of 2023, reflecting the growing technical services in store based and the impact of our pricing actions as well as strong customer demand for our advanced services.

與上季類似，與2023 年第三季相比，技術服務和高級服務都為業績做出了貢獻，反映出基於商店的技術服務不斷增長、我們定價行為的影響以及客戶對我們高級服務的強勁需求。

non-GAAP gross margin for the third quarter 2024 was 44.5% an increase of 30 basis points from the prior quarter. A full reconciliation of our GAAP to non-GAAP results are included in each of our second and third quarter 2024 quarterly earnings press releases which are posted on our investor relations website.

2024 年第三季非 GAAP 毛利率為 44.5%，較上一季成長 30 個基點。我們的 GAAP 與非 GAAP 業績的全面調節包含在我們的投資者關係網站上發布的 2024 年第二季和第三季季報新聞稿中。

Our third quarter 2024 earnings per share in accordance with GAAP with a profit of $0.19 per share compared to a profit of $0.8 per share in the prior quarter and a profit of $0.12 per share in the third quarter of 2023. As we have mentioned previously, it is management's goal to return to consistent GAAP profitability and we believe this is evidence of that progress.

根據 GAAP 計算，我們 2024 年第三季每股收益為 0.19 美元，而上一季每股收益為 0.8 美元，2023 年第三季每股收益為 0.12 美元。正如我們之前提到的，管理層的目標是恢復一致的 GAAP 獲利能力，我們相信這是這項進展的證據。

Our third quarter 2024 non-GAAP earnings per share were $0.56 compared to $0.51 per share in the prior quarter and $0.62. Per share in the same period last year. Third quarter non-GAAP EBITDA was $39 million. A decrease of $1 million compared to the previous quarter and a decrease of $2 million when compared to the same period last year. Third quarter 2024 non-GAAP EBITDA and non-GAAP earnings per share reflect our strong cost and operating expense management.

2024 年第三季非 GAAP 每股收益為 0.56 美元，上一季每股收益為 0.51 美元，每股收益為 0.62 美元。去年同期每股。第三季非 GAAP EBITDA 為 3,900 萬美元。比上一季減少 100 萬美元，比去年同期減少 200 萬美元。2024 年第三季非 GAAP EBITDA 和非 GAAP 每股盈餘反映了我們強大的成本和營運費用管理。

At the end of the third quarter of 2024 our cash and cash equivalent balance was $571 million up from $557 million as of June 30, 2024. Non-GAAP free cash flow during the third quarter of 2024 was $9 million. Free cash flow was lower in the third quarter compared to the prior quarter as a result of the timing of employee compensation and annual merit increase.

截至 2024 年第三季末，我們的現金及現金等價物餘額為 5.71 億美元，高於截至 2024 年 6 月 30 日的 5.57 億美元。2024 年第三季的非 GAAP 自由現金流為 900 萬美元。由於員工薪資和年度績效成長的時間安排，第三季的自由現金流量低於上一季。

In terms of accounts receivable, these sales outstanding for third quarter 2024 were 83 days. We are pleased with our continued strong quarterly collections and working capital management inventories as of September 30, 2024, were $95 million an increase of $2 million from the prior quarter and a decrease of $21 million from September 30, 2023.

就應收帳款而言，2024 年第三季的應收帳款銷售天數為 83 天。我們對截至 2024 年 9 月 30 日持續強勁的季度收款和營運資金管理庫存感到滿意，為 9,500 萬美元，比上一季增加 200 萬美元，比 2023 年 9 月 30 日減少 2,100 萬美元。

Now turning to guidance based on our third quarter 2024 results and our current visibility for the remainder of the year, we are updating our full year 2024 outlook including increasing the bottom end of the guidance ranges for bookings and total revenues and increasing both the top and bottom end of the ranges for non-GAAP earnings per share and non-GAAP EBITDA. For full year 2024 we anticipate bookings to be in the range of $800 million to $875 million total revenues are expected to be in the range of $1.1 billion to [$1.110 billion.]

現在轉向基於2024 年第三季業績和目前對今年剩餘時間的可見性的指導，我們正在更新2024 年全年展望，包括提高預訂量和總收入指導範圍的下限，並提高上限和總收入的指導範圍非 GAAP 每股盈餘和非 GAAP EBITDA 範圍的下限。2024 年全年，我們預計預訂量將在 8 億至 8.75 億美元之間，總收入預計將在 11 億至 11 億美元之間[11.1億美元。

non-GAAP EBITDA is now expected to be in the range of $129 million to $134 million. Non-GAAP earnings per share is now expected to be in the range of a $1.65 to $1.72. We believe these increases in our full year. 2024 guidance ranges reflect trend in the commercial momentum and the strong cost management culture of our organization.

目前預計非 GAAP EBITDA 將在 1.29 億美元至 1.34 億美元之間。目前預計非 GAAP 每股收益在 1.65 美元至 1.72 美元之間。我們相信全年這些成長。 2024 年指導範圍反映了我們組織的商業動能和強大的成本管理文化的趨勢。

For the fourth quarter of 2024 we are providing the following guidance. We expect total fourth quarter 2024 revenue to be between $295 million and $305 million with product revenues to be between $177 million and $182 million and services revenues to be between $118 million and $123 million.

對於 2024 年第四季度，我們提供以下指引。我們預計 2024 年第四季總營收將在 2.95 億美元至 3.05 億美元之間，其中產品收入將在 1.77 億美元至 1.82 億美元之間，服務收入將在 1.18 億美元至 1.23 億美元之間。

The fourth quarter product revenue guidance reflects strong visibility to scheduled implementations and the overall trends we are seeing in the commercial business. We expect our fourth quarter 2024 non-GAAP EBITDA to be between $40 million and $45 million. We expect the fourth quarter 2024 non-GAAP earnings per share to be between $0.55 per share and $0.62 per share.

第四季產品收入指引反映了對計劃實施的強烈可見性以及我們在商業業務中看到的整體趨勢。我們預計 2024 年第四季的非 GAAP EBITDA 將在 4,000 萬美元至 4,500 萬美元之間。我們預計 2024 年第四季非 GAAP 每股盈餘將在每股 0.55 美元至 0.62 美元之間。

Non-GAAP EBITDA and non-GAAP earnings per share for the fourth quarter include seasonal expenses and continued investment in innovation.

第四季非公認會計原則 EBITDA 和非公認會計原則每股收益包括季節性費用和持續創新投資。

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. As we announced on our last earnings call beginning in 2025, we plan to change the bookings metric that we provide. As a reminder our bookings currently include connected devices and software licenses, advanced services and consumables.

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。正如我們在 2025 年開始的上一次財報電話會議上所宣布的那樣，我們計劃更改我們提供的預訂指標。請注意，我們的預訂目前包括連網設備和軟體許可證、高級服務和消耗品。

Beginning with our 2025 guidance, we plan to provide product bookings which consist of connected devices and software licenses. We also plan to provide a new metric annual recurring revenue which will consist of advanced services, technical services and consumables. We are planning to provide a 2024 reconciliation utilizing the historic booking metrics as well as the new product bookings and ARR metrics so, you have a corresponding apples-to-apples comparison for 2025.

從 2025 年指南開始，我們計劃提供包括連接設備和軟體許可證的產品預訂。我們也計劃提供新的年度經常性收入衡量標準，其中包括高級服務、技術服務和消耗品。我們計劃利用歷史預訂指標以及新產品預訂和 ARR 指標提供 2024 年對賬，以便您對 2025 年進行相應的同類比較。

We believe these new metrics will better reflect how we manage the business internally, particularly given our focus on growing recurring revenue and should be helpful to you in understanding and modelling our company going forward. As we wrap up, I want to tell you that we are pleased with our solid results for the third quarter of 2024 and the stronger outlook we have provided in the form of updated guidance for the full year of 2024.

我們相信這些新指標將更能反映我們內部管理業務的方式，特別是考慮到我們專注於增加經常性收入，並且應該有助於您了解我們公司的未來並對其進行建模。在結束時，我想告訴您，我們對 2024 年第三季度的穩健業績以及我們以更新的 2024 年全年指引的形式提供的更強勁的前景感到滿意。

I would also like to take a moment to thank the entire Omnicell sale team for their commitment to improve execution and their customer first focus. We would not like to open the call for questions.

我還想花一點時間感謝整個 Omnicell 銷售團隊致力於提高執行力和以客戶至上為中心。我們不想公開提問。

(Operator instructions)

（操作員說明）

Matt Hewitt, Craig-Hallum Capital Group.

馬特·休伊特，克雷格-哈勒姆資本集團。

Good morning and thank you for taking the questions. Maybe first up on the revenue side, obviously another strong performance from the services side. The product side you obviously it's, you are still dealing with a little bit of headwinds. But I'm just curious, was there anything related to the hurricanes? Were there any delayed implementations or anything that maybe is leading to the better anticipated growth here in the Q4?

早上好，感謝您提出問題。也許首先是收入方面，顯然是服務方面的另一個強勁表現。顯然，在產品方面，您仍然面臨著一些阻力。但我只是好奇，有什麼跟颶風有關嗎？是否有任何延遲的實施或任何可能導致第四季度更好的預期成長的因素？

Hey Matt, Good morning. Thank you for the question. The hurricane did not have any impact in our Q3 revenue. As you saw, the revenue was in line with our expectations. And we do also expect our Q4 revenue to increase.

嘿馬特，早安。謝謝你的提問。颶風並沒有對我們第三季的收入產生任何影響。正如您所看到的，收入符合我們的預期。我們也預計第四季的營收將會增加。

Got it and then product gross margins a very nice pop here in the third quarter. I'm just curious. Do you see that continuing to trend higher? Are you still working through some of the inventories purchased during the supply challenges of COVID? And therefore, that's creating a little bit of a headwind and when do you think, or how long should it take to get back to maybe where you were just a couple of years ago, which is closer to 50% gross margin? Thank you.

明白了，然後產品毛利率在第三季出現了非常好的成長。我只是好奇。您認為該趨勢持續走高嗎？您還在處理在新冠疫情期間採購的一些庫存嗎？因此，這造成了一點阻力，您認為什麼時候、或需要多長時間才能回到幾年前的水平，接近 50% 的毛利率？謝謝。

Yeah Matt, as we have been focused on improving our overall financial performance and gross margin continues to be a key focus of ours. We do expect our gross margin to improve over time as we continue to invest in advanced services and asset scales, but we are also in a position where we believe the feedback that we are getting from our customers with regards to the initial XT amplify launch will continue and those should start contributing to having a positive impact in our margins over the years as they start contributing to meaningful revenue.

是的，馬特，因為我們一直致力於提高整體財務業績，而毛利率仍然是我們的重點關注點。隨著我們繼續投資先進服務和資產規模，我們確實預計我們的毛利率會隨著時間的推移而提高，但我們也相信，我們從客戶那裡得到的關於最初XT amplify 發布的反饋將提高我們的毛利率。

And Matt, it's Kathleen, I'll jump in there and just know he referenced the margins of 50% from a few years ago, we do have a different mix of revenue streams now that you are seeing reflected. So, as we have specialty that's flowing through that is still scaling. So, the margins there are a bit lower. So, as we continue to progress, we'll continue, we expect that to strengthen, but bear in mind that the revenue makes is different than it was a few years ago.

馬特，我是凱瑟琳，我會跳進去，我知道他提到了幾年前 50% 的利潤率，現在您看到了反映，我們確實有不同的收入流組合。因此，由於我們擁有正在流動的專業知識，因此仍在擴展。因此，那裡的利潤要低一些。因此，隨著我們不斷進步，我們將繼續，我們預計這種情況會加強，但請記住，收入與幾年前不同。

That that's really helpful. Thank you. And maybe one last one, if you don't mind regarding the XT amplified pipeline. given that this is a different type of upgrade cycle than you've experienced over the last few where it was more of the big equipment, this is more of a software. Would you anticipate that this would maybe not follow a typical bell-shaped replacement curve. Is there an opportunity here for this to be maybe a little bit more front end loaded, if you will, maybe over the first, two to three years, you would see greater demand than you typically would with an upgrade cycle. Thank you.

這真的很有幫助。謝謝。如果你不介意 XT 放大管道，也許是最後一項。考慮到這是一種不同類型的升級週期，與您過去幾次經歷的升級週期不同，過去幾次升級週期更多的是大型設備，所以這更像是一個軟體。您是否預計這可能不會遵循典型的鐘形替代曲線。如果你願意的話，這裡是否有機會增加一點前端負載，也許在最初的兩到三年內，你會看到比通常升級週期更大的需求。謝謝。

Yeah, I think the XT amplify is more than an upgrade cycle, right? It's an on ramp to new technology that we have never had before. And so, while it does include console upgrade, which we call XT extend, it really allows us to engage the customers on several levels to access new products like MedChill and we have committed to you and to the market that we are going to continue with this strong innovation path, and we really feel excited about it. And as we show customers some of these new innovations that are coming out, it really reflects an uptake in solution selling that can solve some problems that have never been solved before. And so the XT amplify is much larger than just the console upgrade. It'll have more types of hardware and software to be deployed that is essential in today's health care system.

是的，我認為 XT amplify 不僅僅是一個升級週期，對吧？這是我們以前從未有過的新技術的起步。因此，雖然它確實包括控制台升級（我們稱之為XT 擴展），但它確實使我們能夠在多個層面上吸引客戶來訪問MedChill 等新產品，我們已向您和市場做出承諾，我們將繼續與您合作這條強而有力的創新之路，我們真的感到很興奮。當我們向客戶展示一些即將出現的新創新時，它確實反映出解決方案銷售的普及，可以解決一些以前從未解決過的問題。因此，XT amplify 的意義遠大於主機升級。它將部署更多類型的硬體和軟體，這對於當今的醫療保健系統至關重要。

That's great. Thank You.

那太棒了。謝謝。

Next question.

下一個問題。

Jessica Tassan, Piper Sandler

傑西卡·塔桑，派珀·桑德勒

Hi guys. Thanks for taking my question and congrats on the quarter. I wanted to just ask kind of directionally about the cabinet contribution excluding amplify year over year in 2025. I know we don't have guidance yet, but just should we be thinking about the cabinet as being essentially stable through the end of the XT cycle or will they continue to decline off of the 24 base?

嗨，大家好。感謝您提出我的問題並祝賀本季。我想直接問一下內閣的貢獻（不包括 2025 年逐年擴大）。我知道我們還沒有指導，但我們是否應該考慮內閣在 XT 週期結束時基本穩定，還是會繼續從 24 基數下降？

Well, we have a couple of actions going on, right? The cycle of the XT upgrades from the G series is cycling down. So, there are less opportunities to do those upgrades. We have a large fleet now of XT that are out in the market that have the opportunities to expand with the XT amplify. So, it looks differently. But as customers upgrade their G Series to XT series or the XT Amplify series there's a, all of these large providers are generally in the midst of expansion or adding on new hospitals and different accounts. So, it allows several modes of expansion and of course, competitive wins as they come along.

好吧，我們正在進行一些行動，對吧？G系列的XT升級週期正在循環下降。因此，進行這些升級的機會較少。我們現在擁有大量 XT 機隊，已推出市場，有機會透過 XT 擴大機進行擴展。所以，它看起來不一樣。但當客戶將 G 系列升級到 XT 系列或 XT Amplify 系列時，所有這些大型提供者通常都在擴張或增加新醫院和不同帳戶。因此，它允許多種擴張模式，當然還有競爭性勝利。

That's helpful. And then maybe Randall, can you just provide some perspective on how we should be thinking about the cabinet life cycle? Does this amplify refresh cycle kind of change the historical 10-year cadence of new product releases? Or is it just a component of that 10-year cycle which is still intact? It would be helpful if you could just offer some costs. Thank you.

這很有幫助。然後蘭德爾，您能否就我們應該如何考慮櫥櫃生命週期提供一些觀點？更新週期的延長是否會改變新產品發布的歷史 10 年節奏？或者它只是十年周期的一個組成部分，仍然完好無損？如果您能提供一些費用，將會很有幫助。謝謝。

Yeah, Jess. That's a really good question. No, this is, this really extends and allows for the on ramp to our next generation of technology software and hardware. So, one of the things that we really want to achieve is to make it easier for customers to acquire new technologies, upgrade to new technologies without as much disruption. So, the amplify is the on ramp to all our next generation technology, which is some of the coolest on the planet. And as we move forward in time, we will be talking more about these things. But the XT amplify is how you start, and it really resonates with customers today. It really makes them feel good that we' are investing in what they have, and we are also investing in their future. So, they love that part, and it resonates with customers who have never used us before. Right. Both new potential customers, like what we are doing.

是的，傑西。這是一個非常好的問題。不，這是，這確實擴展並允許我們進入下一代技術軟體和硬體。因此，我們真正想要實現的目標之一是讓客戶更容易獲得新技術、升級到新技術，而不會造成太多幹擾。因此，擴大機是我們所有下一代技術的起點，這是地球上最酷的技術之一。隨著時間的推移，我們將更多地談論這些事情。但 XT amplify 是您的起點，它確實引起了當今客戶的共鳴。我們正在投資他們所擁有的東西，我們也在投資他們的未來，這確實讓他們感覺良好。所以，他們喜歡這個部分，並且它與以前從未使用過我們的客戶產生了共鳴。正確的。兩個新的潛在客戶都喜歡我們正在做的事情。

Allen Lutz, Bank of America.

艾倫·盧茨，美國銀行。

Good morning and thanks for taking the questions. One for Randall here, just kind of at a high level as we look at the product revenue over the past couple quarters and then look to the 4Q and I know Matt kind of already asked about, was there some type of a push into 4Q, But just trying to figure out the guidance for 4Q product revenues is really strong and just trying to dissect exactly what is driving the sequential change. Because if we look back the past few years, there's been a sequential change to the negative side, which I think was more on the market getting weaker. But what exactly is going on in 4Q that gives you confidence around the product revenue side? Is it the market improving? Is it extended amplify contributing more trying to get a sense of what's driving the improvement into the back quarter of the year? Thanks.

早上好，感謝您提出問題。蘭德爾（Randall）的一個，只是在一個較高的水平，我們看看過去幾個季度的產品收入，然後看看第四季度，我知道馬特（Matt）已經問過，是否有某種類型的推動進入第四季度，但僅僅試圖找出第四季度產品收入的指導就非常有力，並且只是試圖剖析到底是什麼推動了連續的變化。因為如果我們回顧過去幾年，負面的一面發生了連續的變化，我認為更多的是市場變得疲軟。但第四季到底發生了什麼事讓您對產品收入充滿信心呢？是市場好轉了嗎？它是否會做出更多貢獻，試圖了解推動今年後季度改善的因素？謝謝。

Yeah, good question. There's nothing substantially different. We met our guidance for the basically in Q3 and Q4 just represents what's on our schedule. We have been working really hard to create great predictability based on the schedule of customer resources and our own resources and being able to meet those and those schedules are very strong and set up even before the end of the quarter.

是的，好問題。沒有什麼本質上的不同。我們在第三季和第四季基本上達到了我們的指導方針，這僅代表了我們的日程安排。我們一直在努力根據客戶資源的時間表和我們自己的資源創造良好的可預測性，並且能夠滿足這些要求，這些時間表非常強大，甚至在季度末之前就已經制定好了。

So, it gives us really high confidence that we can meet these ranges and feel confident about getting the right balance of recurring revenue as well as product revenues. And we did just to be clear we raised the bottom end of guidance for our technical service, our advanced services, our product revenues and our bookings. So, I think we feel pretty good about the quarter.

因此，這讓我們非常有信心滿足這些範圍，並對實現經常性收入和產品收入之間的適當平衡充滿信心。我們這樣做只是為了明確我們提高了技術服務、高級服務、產品收入和預訂的指導下限。所以，我認為我們對本季的感覺非常好。

Thanks. And then a follow up from a comment you made around the specialty pharmacy business you opened up to in the quarter. Seems like there's continued momentum there. As we think about the Inflation Reduction Act, there's a lot of impact there to specialty drug pricing and [340 B] and so it seems like the IRA is causing a lot of changes to that part of, of your customer's business. Has that had any type of impact either positive or negative on your prospects or your conversations with these customers is it bringing them in? Is it bringing them to the table trying to understand if there's anything to read from those changes that begin next year? Thanks.

謝謝。然後是您對本季度開設的專業製藥業務發表的評論的後續內容。似乎那裡有持續的勢頭。當我們考慮《通貨膨脹減少法案》時，它對特種藥品定價和 [340 B] 產生了很大的影響，因此 IRA 似乎正在對客戶業務的這一部分造成很多變化。這對您的潛在客戶或您與這些客戶的對話是否產生了正面或負面的影響？是否讓他們坐到談判桌前，試圖了解從明年開始的這些變化中是否有什麼值得借鏡的地方？謝謝。

Well, I think specialty Pharmacy was something in the previous years that was focused mostly on very large entities. Now with the types of services and things that we can bring to the table, even small hospital systems can take on the inside specialty pharmacy on their site.

嗯，我認為專業藥局在前幾年主要關注非常大的實體。現在，有了我們可以提供的服務類型和東西，即使是小型醫院系統也可以在其網站上使用內部專業藥房。

And so, I think it's broadened the market. So, the market has broadened. It's gotten more complex because you have to have the expertise to understand which drugs are kind of dropping off and which ones are coming on board and the ability to deal with a larger catalogue there and be the expert piece for these entities. So, I would say the demand is increasing and strong there and particularly in the middle and smaller markets.

因此，我認為它拓寬了市場。所以，市場已經拓寬了。它變得更加複雜，因為你必須擁有專業知識來了解哪些藥物正在下降，哪些藥物正在加入，並且有能力處理更大的目錄並成為這些實體的專家。因此，我想說，那裡的需求正在增加且強勁，特別是在中小型市場。

Thank You.

謝謝。

Thanks Allen, and next Question?

謝謝艾倫，下一個問題是？

Stephanie Davis, Barclays.

史蒂芬妮戴維斯，巴克萊銀行。

Hey guys, congrats on the quarter and thank you so much for taking my question. I was hoping we could revisit your cost optimization initiatives just given the magnitude of the recent earning fees and the creation of a COO seat.

嘿夥計們，恭喜本季度，非常感謝您回答我的問題。考慮到最近的收入規模和首席營運長席位的設立，我希望我們能夠重新審視你們的成本優化計劃。

So how should we think about the initiatives taken to date? Have there been any major opportunities on earth by your third-party consultants? And acknowledging that it's only been like a month. Is there any early color from Nnamdi Njoku show and his top priorities as he gets into the COO seat.

那麼我們該如何看待迄今為止所採取的措施呢？你們的第三方顧問是否提供任何重大機會？並承認這只是一個月的時間。Nnamdi Njoku 的表演有什麼早期的色彩嗎？

Thank you for the question. So, as over the last 12 months, we have taken quite a lot of actions or some actions to improve our financial performance. And some of the actions we have taken have really been driven by opportunities that we have seen across the company. We continue to explore further opportunities where we can drive operational efficiencies and improve our overall financial results.

謝謝你的提問。因此，在過去 12 個月裡，我們採取了許多行動或一些行動來改善我們的財務表現。我們採取的一些行動確實是由我們在整個公司看到的機會所推動的。我們將繼續探索進一步的機會，以提高營運效率並改善我們的整體財務表現。

And this has become really part of Omnicell that we want to make sure that we continue to (technical difficulty) investments in innovation. And so, you will see us continue to take actions as needed to improve our overall financial performance that is part of our company culture today.

這已經成為 Omnicell 的一部分，我們希望確保我們繼續（技術難度）投資於創新。因此，您將看到我們繼續根據需要採取行動來改善我們的整體財務業績，這是我們今天公司文化的一部分。

Are there any broad strokes or buckets of initiatives you can talk about that can give us just maybe like a one level deeper on granularity.

您是否可以談論一些大致的思路或一系列舉措，這些舉措可以讓我們在粒度上更深入一層。

Well, I mean, there are a few areas that we are looking at, like I mentioned earlier, operational efficiencies is one key area that we will really focus on going forward, especially with Nnamdi coming on board. We want to make sure that we are optimizing whatever opportunities we have within across the company, but we are not leaving any stone unturned. We will look at all areas across the business continuously as we have done in the past to identify opportunities to improve our overall performance.

嗯，我的意思是，我們正在關註一些領域，就像我之前提到的，營運效率是我們未來真正關注的關鍵領域，特別是隨著 Nnamdi 的加入。我們希望確保優化整個公司範圍內的所有機會，但我們不會不遺餘力。我們將像過去一樣持續關注整個業務的所有領域，以尋找提高整體績效的機會。

And I would take that Stephanie as you saw with one of our European operations that was winding down, we are taking that type of approach really looking at the business as such, just said across the board and not leaving any stone unturned.

我認為史蒂芬妮，就像你在我們即將結束的歐洲業務之一中所看到的那樣，我們正在採取這種方法來真正審視業務本身，只是說全面，不遺餘力。

Super helpful, and just a quick follow up on central med automation services. Is there any color you can give us around the adoption roll over the next few years? Is there any opportunity beyond the hospital? Just as supply chain and centralized med management is really top of mind for retail pharmacies right now as well?

超級有幫助，只是對中央醫療自動化服務的快速跟進。對於未來幾年的收養名單，您能給我們什麼建議嗎？除了醫院還有其他機會嗎？正如供應鏈和集中醫療管理現在確實是零售藥局的首要考慮嗎？

Yeah, we see an emerging consolidated service centres where, as these entities have gotten considerably larger that they can get quite a bit of gains by creating a central (technical difficulty) to put all of their pharmacy services into and move some of the cost out of the individual hospitals and use robotics. And we launched, we talked a little bit about launching our consolidated service centre offering that really allow for the use of our on-site central pharmacy services. And these are quite unique because we are able to put two and three and, in some case, four of these robots together to generate enormous efficiencies and accuracies for picking for not just a single hospital but 20, 30, 40 hospitals.

是的，我們看到一個新興的綜合服務中心，隨著這些實體變得相當大，他們可以透過創建一個中心（技術難度）來將所有藥房服務放入其中並將部分成本轉移出去，從而獲得相當多的收益各醫院並使用機器人技術。我們推出了，我們討論了推出我們的綜合服務中心產品，真正允許使用我們的現場中央藥房服務。這些機器人非常獨特，因為我們能夠將兩個和三個，在某些情況下四個這樣的機器人放在一起，以產生巨大的效率和準確性，不僅可以為一家醫院，而且可以為20、30 、40 家醫院進行揀選。

Awesome to hear. Thank you.

很高興聽到。謝謝。

Anne Samuel, JP Morgan.

安妮‧塞繆爾，摩根大通。

Hi, thanks for taking the question. You spoke to seeing some stabilization within the hospital market. And I was hoping maybe you could just expand on that a little bit, maybe discuss how they're thinking about prioritization of spend and ROI and then our budgets loosening across the board or you just see it kind of in, in specific product areas.

您好，感謝您提出問題。您談到醫院市場出現了一些穩定。我希望你能稍微擴展一下這一點，也許可以討論他們如何考慮支出和投資回報率的優先順序，然後我們的預算全面放鬆，或者你只是在特定的產品領域看到它。

Well, I think the key is that when you think about spending on pharmacies, a strategic investment for long term return like these consolidated service centre’s. So, these are significant decisions that need to make and significant multi-year programs that involve not just rolling out some systems for an upgrade in a particular year but much longer term. And so, we are starting to see those conversations re engage and build into our pipeline that give us really comfort because we want these decisions to be just not opportunistic events for one year but multi-year, which means really rolling out our entire platform. And in order to have these sort of multi-year discussions about a strategic implementation to really make pharmacy key and get the returns and the ROI you want from it, it's really a multi-year event and we are seeing our customers come to the table on these and both engaging us and bringing us into the conversations as well as we approach them, getting them involved in this broader based discussion really at [C-suite] level.

嗯，我認為關鍵是，當您考慮藥房支出時，像這些綜合服務中心這樣的長期回報的策略性投資。因此，這些都是需要做出的重大決策和重要的多年期計劃，這些計劃不僅涉及在特定年份推出一些系統進行升級，還涉及更長期的升級。因此，我們開始看到這些對話重新參與並融入我們的管道中，這給我們帶來了真正的安慰，因為我們希望這些決定不僅僅是一年的機會主義事件，而是多年的機會主義事件，這意味著真正推出我們的整個平台。為了就策略實施進行此類多年期討論，真正使藥房成為關鍵，並從中獲得您想要的回報和投資回報率，這實際上是一個多年期活動，我們看到我們的客戶來到了談判桌前在這些方面，既讓我們參與進來，讓我們參與對話，又讓我們接近他們，讓他們真正在[最高管理層]層面參與到這個更廣泛的討論中。

That's great to hear. as we are coming up on the end of the year. I was hoping maybe you could just speak a little bit to how we should be thinking about headwinds and tailwinds if you look out to 2025 and then also how we should be thinking about amplify within that context.

很高興聽到這個消息。因為我們即將迎來年底。我希望您能談談，如果您展望 2025 年，我們應該如何考慮逆風和順風，然後我們應該如何考慮在此背景下的放大。

Well, I think we are on a good trajectory and that health systems have incrementally been improving quarter to quarter. And I would assume that that would continue remember just because the health system is now positive, doesn't mean they run out and spend capital.

嗯，我認為我們正處於良好的軌道上，衛生系統逐季逐步改善。我認為人們會繼續記住這一點，因為衛生系統現在是積極的，並不意味著他們會耗盡資金並花費資金。

It takes several of those quarters in a row to give them comfort before they start investing in strategic projects. So, assuming that continues in that form, I think there is some interest rate sensitivity as long as they flatten or continue to go down. I see a more willingness to spend strategic capital and to really lean into the pharmacy strategic spending. It requires that affordable rate for monies to put into these projects.

他們需要連續幾個季度才能讓他們感到安心，然後才開始投資戰略項目。因此，假設這種情況持續下去，我認為只要利率趨於平緩或繼續下降，就會存在一定的利率敏感度。我看到人們更願意花費戰略資本並真正傾向於製藥戰略支出。它要求以可承受的價格投入這些項目。

And I think that one of the things that it just doesn't seem to stop, but it's a good thing for us, I think is the continued consolidation. I was just in two customers this week and I went to look at their operations and talk about their future and they both had a lot going on and they both talked about new acquisitions, they were continuing to add to their system, which seems to be a continual trend which just continues to bring the conversation to these much larger strategic levels. So, I think those are tailwinds. Headwinds would be a more macro-economic, if there's some change in the way payers pay or, some changes in, the amount of people insured or how they are insured. But I don't really see that as much. I just think it's a slow steadily improvement is what we are seeing out there.

我認為其中一件事似乎沒有停止，但對我們來說這是一件好事，我認為就是持續的整合。這週我剛拜訪了兩個客戶，我去看了他們的營運並談論了他們的未來，他們都發生了很多事情，他們都談論了新的收購，他們正在繼續為他們的系統添加內容，這似乎是這是一種持續的趨勢，繼續將對話帶到更大的策略層面。所以，我認為這些都是順風。如果付款人的支付方式發生一些變化，或者投保人數或投保方式發生一些變化，那麼宏觀經濟上的阻力將更大。但我真的不這麼認為。我只是認為這是一個緩慢而穩定的進步，這就是我們所看到的。

And Randall, what I would add as well is as we think about it. Certainly, we are seeing some positive signs on the end markets and macro as we all are. For Omnicell as we have been sharing with you over the last couple of quarters, we are well along the path from a booking's perspective on the XT upgrade cycle. So, that's something to keep in mind as well as you think about Omnicell business as we go forward over the next 4 to 6 quarters.

蘭德爾，我還要補充的是我們的想法。當然，我們在終端市場和宏觀經濟方面看到了一些積極的跡象。對於 Omnicell，正如我們在過去幾季與您分享的那樣，從預訂的角度來看，我們在 XT 升級週期方面進展順利。因此，在我們未來 4 到 6 個季度的發展過程中，您在考慮 Omnicell 業務時需要牢記這一點。

Great thanks, and then just maybe just to kind of follow up to the back half of that question, just how we should be thinking about how to amplify within the context of those headwinds and tailwinds for next year, maybe when I know it takes a little bit of time for, kind of bookings to convert to revenues. So how should we be thinking about timing for that?

非常感謝，然後也許只是為了跟進這個問題的後半部分，我們應該如何考慮如何在明年的逆風和順風的背景下擴大規模，也許當我知道這需要一個需要一點時間將預訂轉化為收入。那我們該如何考慮時機呢？

Well, I think we just started, and I think the conversations are rich. I think that as we launch new innovations that we will continue to do on a regular basis, that will even entrench those conversations anymore and give more driving reasons for more customers to deploy the amplified platform sooner.

嗯，我認為我們才剛開始，而且我認為對話內容很豐富。我認為，隨著我們推出我們將繼續定期進行的新創新，這甚至會進一步鞏固這些對話，並為更多客戶更快部署放大的平台提供更多驅動力。

And so, I think that it's not just about when does the amplify revenue event take place, it's about getting the broader conversation to get the broader amplify uplift from the platform. So, I intend to see I expected to see that and every customer at this point pretty much we are engaged in as the XT amplify discussion. So, we are beginning that road map and that should be a good tailwind to us as we move into 2025. Even though we don't have as many upgrades from the G series.

因此，我認為這不僅是關於放大收入事件何時發生的問題，還在於進行更廣泛的對話，以從平台獲得更廣泛的放大提升。因此，我希望看到這一點，並且每個客戶此時幾乎都在參與 XT 放大討論。因此，我們正在開始製定路線圖，這對我們進入 2025 年應該是一個好的推動力。儘管我們沒有 G 系列那麼多的升級。

Great, very helpful. Thank you.

太棒了，非常有幫助。謝謝。

Scott Schoenhaus, KeyBanc Capital Markets.

Scott Schoenhaus，KeyBanc 資本市場。

Hi team. Thanks for the questions. I just want to get more sense on the product side. Can you give us any color on how far along you are away through the upgrade cycle of the XT series currently? And then in sort of the opportunity set for XT amplify heading into next year, you mentioned both software and hardware. Can you talk about where you see the most opportunity or the bookings currently between the mix of those two? Thanks.

大家好。感謝您的提問。我只是想對產品方面有更多的了解。能否透露一下目前 XT 系列的升級週期還有多遠？然後，在談到明年 XT amplify 的機會時，您提到了軟體和硬體。您能談談您認為哪裡機會最多，或目前兩者之間的預訂情況嗎？謝謝。

Well, I think we are substantially through the G series upgrade to the XT series. So, we are kind of at the from a booking standpoint. Yes, thank you. Kathleen from a booking standpoint. The Amplify Series allows customers to access more products like MedChill and other new products that we are innovating so, there is a driving desire to get these other products deployed in these, in the fleet of XT's that we have out there in the marketplace as well as new software features and functions and additive things. And so, it's not all about just upgrading at the end of a cycle. It's about getting access to new solution sets and new ways of looking at products on the supply chain as well as in inventory. So, customers want to figure out how we can get from where they are today to where they want to be over the next three, four years. And so, XT is that discussion that is the on ramp to that and it just it's a more positive discussion with the customer and saying, hey, you need to upgrade because this thing is old.

嗯，我認為我們實質上是透過G系列升級到XT系列的。所以，從預訂的角度來看，我們是這樣的。是的，謝謝。凱瑟琳從預訂的角度來看。Amplify 系列允許客戶獲得更多產品，例如 MedChill 和我們正在創新的其他新產品，因此，我們迫切希望將這些其他產品部署在這些產品中，以及我們在市場上擁有的 XT 系列中作為新的軟體特性和功能以及附加的東西。因此，這不僅僅是在周期結束時進行升級。這是關於獲得新的解決方案集以及查看供應鏈和庫存中的產品的新方法。因此，客戶希望了解我們如何在未來三、四年內從他們今天的處境達到他們想要的目標。因此，XT 是討論的起點，它只是與客戶進行更積極的討論，並說，嘿，你需要升級，因為這個東西很舊。

And because we are then stepping into their world, helping them to solve the problems, just not give them a new system. And so, I think that's why the XT amplify is really resonating well with us and we'll continue to see engagement on several levels because there's a lot of parts of XT amplify that customers can access.

因為我們隨後將步入他們的世界，幫助他們解決問題，而不是給他們一個新的系統。因此，我認為這就是 XT amplify 真正引起我們共鳴的原因，我們將繼續看到多個層面的參與，因為客戶可以訪問 XT amplify 的許多部分。

Thanks for the color. Moving on to advanced services obviously that's a mixture right now of comprehensive complex services that you are helping these hospital systems with their advanced pharmacy needs, as well as software modules like [340B]. How should we think about that mix heading into next year? And then obviously the margins on the more services-oriented part of advanced services and the more software revenue streams. Thanks.

謝謝你的顏色。轉向高級服務顯然現在是綜合複雜服務的混合體，您正在幫助這些醫院系統滿足其高級藥房需求，以及諸如此類的軟體模組[340B]。我們該如何看待明年的這種組合？然後顯然是高級服務中更多面向服務的部分和更多軟體收入流的利潤。謝謝。

Yeah, so, well we do see an opportunity or as we again, as I mentioned earlier, as we continue to invest in our advanced services and as the business continues to scale, we do see that contributing to our overall margins. But from an advanced services standpoint, I think if you look at our performance this year, advanced services are growing, and we do expect it to continue to grow for the rest of the year. Also, I mean, I want to call the fact that we do expect that services for the full year to be around 14%. So, it really solid going into 2025.

是的，所以，我們確實看到了機會，或者正如我之前提到的，隨著我們繼續投資於我們的先進服務並且隨著業務的不斷擴大，我們確實看到這對我們的整體利潤做出了貢獻。但從高級服務的角度來看，我認為如果你看看我們今年的表現，你會發現高級服務正在成長，我們確實預計它在今年剩餘時間內將繼續成長。另外，我的意思是，我想指出這樣一個事實：我們確實預計全年服務業將達到 14% 左右。所以，進入 2025 年，它確實很穩固。

Yeah, continued growth, double digit growth in the next year. Technical services are probably not quite as fast, but we are really moving to this metric of ARR continued revenue, the recurring portion of our business. We think that really helps to make our business more transparent, easy to understand and really run, that's the way we run the business. And so, we wanted to make sure that we set it up going that way, going forward for all of you.

是的，持續成長，明年將達到兩位數成長。技術服務可能沒有那麼快，但我們確實正在轉向 ARR 持續收入這一指標，即我們業務的經常性部分。我們認為這確實有助於使我們的業務更加透明、易於理解和真正運營，這就是我們經營業務的方式。因此，我們希望確保我們能夠朝著這個方向發展，為大家前進。

Thanks Scott.

謝謝斯科特。

Bill Sutherland, the benchmark company.

比爾·薩瑟蘭，標竿公司。

Hey, thanks everybody. Wanted to get an update on the IVX. That's had to go through some redesign required by the FDA guidelines from the kind of where we are with just the outlook for getting that into the market and the potential booking.

嘿嘿，謝謝大家。想要獲得有關 IVX 的更新。這必須根據 FDA 指南的要求進行一些重新設計，從我們目前的情況來看，只有將其推向市場和潛在預訂的前景。

Yeah, I would say it's still slow, but we are very optimistic about it. We have got these next releases lined up to help us optimize those requirements and it's beginning to make more sense than to drive better outcomes for our customers. So, we see we believe we'll see increased adoption and increased bookings over year to year. Maybe not quite as fast as everybody would like, but it's a great product and I think it its, momentum is building, it's still slow.

是的，我想說它仍然很慢，但我們對此非常樂觀。我們已經準備好這些下一個版本來幫助我們優化這些要求，並且它開始比為我們的客戶帶來更好的結果更有意義。因此，我們相信我們會看到逐年增加的採用率和預訂量。也許不像每個人想要的那麼快，但它是一個很棒的產品，我認為它的勢頭正在增強，但它仍然很慢。

Got it. I just wanted to ask also about capital deployment any updated thoughts there and particularly with the convert that's due next year and what the what the thinking might be around that.

知道了。我只是想詢問有關資本部署的任何更新的想法，特別是明年到期的轉換以及圍繞該問題的想法可能是什麼。

Yeah, we are very mindful of the timing of the convert maturity, and we do have, or we continue to explore strategic options to ensure that there's no dilution from a shareholder value standpoint. As we are in a very strong cash position with close to $600 million on our balance sheet and a $350 million revolver. And so we do, we are looking at different options to ensure that we not find ourselves in a position where we are not taking advantage of the timing that we have. But also, we are in a very solid position as with a 0.25% in our compatible senior note. So, we will make take some actions here in the near future.

是的，我們非常注意轉換成熟的時間，我們確實這樣做了，或者我們繼續探索策略選擇，以確保從股東價值的角度來看不會被稀釋。因為我們的現金狀況非常強勁，資產負債表上有近 6 億美元，還有 3.5 億美元的左輪手槍。因此，我們正在尋找不同的選擇，以確保我們不會發現自己處於無法利用現有時機的情況。而且，我們的地位非常穩固，我們的相容高級票據中的利率為 0.25%。因此，我們將在不久的將來在這裡採取一些行動。

Got it. Thank Nchacha.

知道了。謝謝恩查查。

So, to your question on capital deployment, I would note that we have shared with you that we have a goal to get to consistent GAAP performance. But we are also looking at that ROIC method as well. So, improving that return on invested capital and what you are seeing over the last couple of prior quarters is we are getting much more disciplined in our decision making when it comes to capital deployment within the company.

因此，對於您關於資本部署的問題，我想指出的是，我們已經與您分享了我們的目標是實現一致的 GAAP 績效。但我們也在研究 ROIC 方法。因此，提高投資資本回報率以及您在過去幾季中看到的情況是，在公司內部資本部署方面，我們的決策變得更加嚴格。

Thank you.

謝謝。

Thanks Bill. Next question?

謝謝比爾。下一個問題？

Stan Berenshteyn, Wells Fargo.

史丹貝倫斯坦，富國銀行。

Hi, good morning. Thanks for taking my questions. Maybe just a quick one on bookings guidance. Can you just talk us through? What needs to happen to get to the upper end of the range for bookings?

嗨，早安。感謝您回答我的問題。也許只是一個關於預訂指南的快速指南。你能跟我們談談嗎？需要做什麼才能達到預訂範圍的上限？

Yes, Stan what we look at today, we are very comfortable and confident with the book, things that we have achieved here today. We do expect this trend that we see in our operations and that momentum continues and we are confident that we will as we go through the end of the year, that momentum should get us to achieve our bookings. Provide guidance again guiding to the lower end of improving the lower end of our bookings for the full year is testament to the confidence that we have in our bookings for the rest of the year.

是的，史丹，我們今天看到的，我們對這本書以及我們今天在這裡的成就感到非常滿意和自信。我們確實預計我們在營運中會看到這種趨勢，而這種勢頭會持續下去，我們有信心在年底時，這種勢頭應該會讓我們實現預訂。再次提供指導以改善全年預訂量的低端，這證明了我們對今年剩餘時間的預訂充滿信心。

Yeah. And two primary things that it just stands, two primary things have changed over the last few years. One is the economic conditions of our customers has improved. And the other thing is we have launched new products. So, we have more in the pipeline and more willing customers to buy. And I think that's the strength of our pipeline for Q4.

是的。過去幾年裡，有兩件主要事情已經改變了。一是客戶的經濟狀況有所改善。另一件事是我們推出了新產品。因此，我們有更多的產品正在醞釀中，客戶也更願意購買。我認為這就是我們第四季管道的優勢。

Okay, and a quick follow up on product revenue, obviously, you are seeing a ramp into the fourth quarter. 3Q came out I think a little bit light versus guidance. Can you just talk us through what happened in the quarter? And is that just the timing impact that's now being pushed into 4Q?

好的，快速跟進產品收入，顯然，您會看到第四季度的收入成長。與指導相比，我認為第三季的數據有點寬鬆。您能否向我們介紹本季發生的情況？這只是現在被推到第四季的時間影響嗎？

Yeah, our 3Q product revenue was in line with our expectations. And as I mentioned earlier, we are confident on our ability to achieve our full year revenue guidance. As you saw, we did increase the lower end of our product revenue and total revenue is about our fact. And that again, that's just it gives you, gives us the confidence that we will be able to achieve our product revenue for the full year.

是的，我們第三季的產品收入符合我們的預期。正如我之前提到的，我們對實現全年收入指導的能力充滿信心。正如您所看到的，我們確實增加了產品收入的低端，總收入與我們的事實有關。再說一次，這就是它給你的，給我們信心的，我們將能夠實現全年的產品收入。

All right, thanks so much.

好的，非常感謝。

David Larson, BTIG.

大衛·拉爾森，BTIG。

Hi, can you talk a little bit about your sales force? Like how large is it, how many of those reps are quota carrying? What portions are allocated to like advanced services and enliven versus product? Or is it all mixed together any sort of color around your go forward strategy Relative to like a year ago or two years ago? Thanks very much.

您好，可以簡單介紹一下您的銷售團隊嗎？例如它有多大，其中有多少代表有配額？哪些部分分配給高級服務和活躍產品？或者，相對於一年前或兩年前，圍繞著你的前進策略，這一切是否混合在一起？非常感謝。

Yeah, we have been evolving our sales force and our strategy to do a better job of connecting the customer with our enterprise solution set as opposed to just single product opportunities and what that has come to reorganization of the sales force to have more dedicated people to accounts that help with the relationship building, and then those that do have quote carrying or substantially all of those, but maybe not as heavily weighted as it has been in the past. Because of the relationship building and long-term strategy, we have to deploy more of the enterprise solution set and instead of just a single event, so we will continue to evolve that as we move forward. And we don't really disclose kind of the exact numbers on those people. But I think that we really see much better performance from our sales force this year and the predictability and the commitments they made and the numbers that they produced. And so, we feel that we really gone through somewhat of a sea change over the last couple of years and we are very happy with where we are.

是的，我們一直在發展我們的銷售團隊和策略，以便更好地將客戶與我們的企業解決方案集聯繫起來，而不僅僅是單一產品機會，以及重組銷售隊伍以讓更多敬業的人員來完成銷售工作。由於建立關係和長期策略，我們必須部署更多的企業解決方案集，而不僅僅是單一事件，因此我們將在前進的過程中繼續發展這一點。我們並沒有真正透露這些人的確切數字。但我認為，我們今年確實看到了我們銷售人員的更好表現，以及他們做出的可預測性、所做的承諾以及他們產生的數字。因此，我們覺得過去幾年我們確實經歷了一些翻天覆地的變化，我們對目前的狀況感到非常滿意。

That's very helpful. Thank you. And then can you maybe just talk a little bit about your CRM platform? I think a few years ago you went through a process where you really sort of reviewed each account, each client, how you actually measure bookings and, or backlog. I think you got a little bit more conservative in what you reported as your backlog number. Can you maybe just talk about that, please? And then just how much of your 25 revenues will be covered by your reported backlog? If and when you report it on the fourth quarter, call. Thank you.

這非常有幫助。謝謝。那麼可以簡單談談您的 CRM 平台嗎？我認為幾年前你經歷了一個過程，你確實審查了每個帳戶、每個客戶，以及你如何實際衡量預訂和/或積壓。我認為您所報告的積壓數量有點保守。您能談談這個嗎？那麼，您報告的積壓訂單將涵蓋您 25 項收入中的多少？如果您在第四季度報告這一情況，請致電。謝謝。

Yeah, David, I think most of the backlog, we don't say specifically, we say generally the connected devices are 12 to 18 months and install. So, most of that backlog that we report will be somewhat coming out of backlog over the next 6 to 18 months, I suppose, but it's not a precise measurement. And we have spent a lot of time not just redesigning the sales force for the last question, but also redesigning our systems and creating a better understandable go to market for our customers to more, easily deploy their capital. And that's really allowed us to get move our, our CRM system, our people and our processes to deliver much better predictability. Not just in terms of bookings, but I would say quite a significant step up in our product revenues and our service revenues as well. So, I feel like we have taken this time over the last two years to invest in these systems, processes and people we have done all three. And that is what's driving these much more consistent results and that is why we are confident about Q4.

是的，大衛，我認為大部分積壓，我們沒有具體說，我們說通常連接的設備需要 12 到 18 個月並安裝。因此，我想，我們報告的大部分積壓工作將在未來 6 到 18 個月內完成，但這並不是一個精確的衡量標準。我們花了大量的時間，不僅為最後一個問題重新設計銷售隊伍，而且還重新設計我們的系統，並為我們的客戶創建一個更容易理解的市場進入方式，以便更輕鬆地部署他們的資本。這確實讓我們能夠移動我們的 CRM 系統、我們的人員和我們的流程，以提供更好的可預測性。不僅是在預訂方面，我想說的是，我們的產品收入和服務收入也有了相當大的進步。所以，我覺得我們在過去兩年花了這段時間來投資這些系統、流程和人員，我們已經完成了這三項工作。這就是推動結果更一致的原因，也是我們對第四季充滿信心的原因。

Great. Thank you.

偉大的。謝謝。

Thanks David.

謝謝大衛。

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

由於目前沒有其他問題可以結束我們的問答環節，因此我想將電話轉回蘭德爾·利普斯（Randall Lipps）進行總結發言。

Well, I'd just like to send a big thank you to all the Omnicell team that has worked really hard in the last two years to really bring us to this new point. It's so exciting to see customers re engage with us on innovation, helping them to solve these really difficult problems to make medication management better for the whole world. And then the results of this hard work are flowing through the P&L and it's just refreshing and finally, just welcome to the team and we look forward to your leadership and continuing to develop the great commercialization we have going to the next step. We'll see you folk's next time. Cheers.

好吧，我謹向所有 Omnicell 團隊表示衷心的感謝，他們在過去兩年中付出了巨大的努力，才真正使我們達到了這一新的目標。看到客戶重新與我們合作進行創新，幫助他們解決這些真正困難的問題，從而使全世界的藥物管理變得更好，真是令人興奮。然後，這項艱苦工作的結果就會流淌在損益表中，令人耳目一新，最後，歡迎加入我們的團隊，我們期待著您的領導，並繼續發展我們下一步的偉大商業化。我們下次再見。乾杯。

That concludes today's meeting. Thank you all for joining. You may now disconnect.

今天的會議到此結束。感謝大家的加入。您現在可以斷開連線。