Omnicell Updates Full-Year Profit Outlook After Third-Quarter Beat

The Tip Desk · October 31, 2026 · 3 min read

Third-quarter 2026 revenue was $308 million and non-GAAP earnings were $0.58 a share as the company updated its full-year non-GAAP EBITDA and EPS ranges.

Omnicell, Inc. (OMCL), a healthcare technology company focused on autonomous medication management, reported third-quarter revenue of $308 million, down $3 million, or 1%, from a year earlier, and said both revenue and profitability came in above the high end of the range it had previously provided.

GAAP net income was $11 million, or $0.24 a share, compared with $5 million, or $0.12 a share, in the third quarter of 2025. Non-GAAP net income was $27 million, or $0.58 a share, versus $24 million, or $0.51 a share, a year earlier. Non-GAAP EBITDA was $45 million, compared with $41 million a year earlier.

The company attributed the quarter to demand for its connected device portfolio, favorable product and service margins, and disciplined cost management. Chairman, chief executive officer and founder Randall A. Lipps said the results reflected discipline built into the business through the year and continued customer interest in solutions designed to improve efficiency, safety and workforce productivity.

Product revenues were $173.1 million in the three months ended September 30, 2026, versus $177.5 million a year earlier. Service revenues were $134.8 million, versus $133.1 million. GAAP product gross margin was 43.2%, versus 45.5% a year earlier; non-GAAP product gross margin was 43.8%, versus 45.8%. Income from operations was $14.9 million, versus $8.2 million.

The year-over-year revenue decline marked a reversal from the first two quarters of 2026. In the first quarter, total revenues were $310 million, up 15% from a year earlier. In the second quarter, revenue was $312 million, up 7% from a year earlier.

Cash and cash equivalents were $315 million as of September 30, 2026, versus $292 million as of June 30. Cash flows provided by operating activities were $33 million in the third quarter, versus $68 million in the second quarter. Total debt, net of unamortized issuance costs, was $169 million. The company had $350 million of availability under its revolving credit facility with no outstanding balance.

Given third-quarter profitability and continued focus on disciplined execution, Omnicell is updating its full-year 2026 non-GAAP EBITDA and non-GAAP earnings-per-share guidance ranges. Full-year non-GAAP EBITDA is now $187 million to $193 million and non-GAAP EPS is $2.48 to $2.56.

The company is updating full-year total, product and service revenue ranges as it approaches year-end. Full-year total revenues are $1.225 billion to $1.231 billion, product revenues $684 million to $687 million, and service revenues $541 million to $544 million. Annual recurring revenue guidance is $660 million to $670 million, with the low end unchanged. Product bookings guidance is reiterated at $425 million to $560 million.

For the fourth quarter, Omnicell guides total revenues of $295 million to $301 million, product revenues of $161 million to $164 million, and service revenues of $134 million to $137 million. Fourth-quarter non-GAAP EBITDA is $30 million to $36 million and non-GAAP EPS is $0.41 to $0.49.

Lipps said the company continues to see momentum with its next-generation platform and a growing pipeline, and that customers are validating the potential value of combining Titan XT with OmniSphere, its cloud-native platform.