Key Highlights

  • Non-GAAP EPS of USD 0.58 beat the consensus estimate of USD 0.42, while GAAP diluted EPS was USD 0.24.
  • Revenue of USD 307.85 million edged past the consensus estimate of USD 304.44 million but fell 1% year over year.
  • Non-GAAP EBITDA reached USD 45 million, above the top of its USD 32 million to USD 37 million range.
  • Full year non-GAAP EPS guidance rose to USD 2.48 to 2.56, and EBITDA guidance to USD 187 to 193 million.

Omnicell, Inc. (NASDAQ:OMCL) reported third quarter 2026 non-GAAP Earnings Per Share of USD 0.58, well above the consensus estimate of USD 0.42 and up from USD 0.51 a year earlier. GAAP Diluted Earnings per Share were USD 0.24 compared with USD 0.12 in the prior year quarter. Revenue of USD 307.85 million topped the consensus estimate of USD 304.44 million, although it was down USD 3 million, or 1%, from the third quarter of 2025.

GAAP Net Income was USD 11 million versus USD 5 million, and non-GAAP net income was USD 27 million versus USD 24 million. Revenue landed above the high end of the prior guidance range of USD 301 million to USD 307 million.

Revenue Mix and Profit Drivers

Product revenue was about USD 173 million and service revenue about USD 135 million. Non-GAAP EBITDA of USD 45 million compared with USD 41 million a year earlier. The chief financial officer attributed the outperformance to cost efficiency, favorable customer mix on products, favorable gross margins in both product and service lines, disciplined spending, and some expense timing that shifted into the fourth quarter.

Free Cash Flow was USD 20 million, and Operating Cash Flow was USD 33 million versus USD 28 million. Cash and equivalents stood at USD 315 million against total Debt of USD 169 million net of issuance costs, with USD 350 million available and undrawn under the revolving Credit facility. Management said the first three quarters show the benefit of a renewed emphasis on profitability, whereas in 2025 EBITDA grew at roughly half the rate of revenue.

Updated Guidance and Platform Timing

Full year revenue guidance was narrowed to USD 1.225 billion to USD 1.231 billion, with product revenue at USD 684 million to USD 687 million and service revenue at USD 541 million to USD 544 million. Year end annual Recurring Revenue is guided to USD 660 million to USD 670 million, and product bookings guidance of USD 425 million to USD 560 million was reiterated. Fourth quarter guidance calls for revenue of USD 295 million to USD 301 million, non-GAAP EBITDA of USD 30 million to USD 36 million and non-GAAP EPS of USD 0.41 to USD 0.49.

Chairman and Chief Executive Officer Randall Lipps pointed to momentum for the Titan XT dispensing platform paired with OmniSphere, a cloud native software layer. The company said the first Titan XT hardware shipment is days away, and general availability of OmniSphere is targeted for the first half of 2027. It described the total replacement cycle opportunity as exceeding USD 2.5 billion and cited a modest 2026 ARR impact from changes in the 340B program.

Signposts for the Fourth Quarter

Several items are specific to the next report. The fourth quarter guidance ranges of USD 295 million to USD 301 million in revenue and USD 0.41 to USD 0.49 in non-GAAP EPS set the reference points. Product bookings, which management described as back end weighted within the USD 425 million to USD 560 million range, are the largest swing factor. Roughly half of about USD 6 million of incremental memory chip cost landed in the third quarter, with the remainder falling in the fourth.