# EDGAR Filing Document

**Accession Number:** 0000926326
**File Stem:** 0000926326-25-000031
**Filing Date:** 2025-11
**Character Count:** 216065
**Document Hash:** 21b28e0a3f49a870d798fcdd7340b7d4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000926326-25-000031.hdr.sgml**: 20251105

**ACCESSION NUMBER**: 0000926326-25-000031

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 104

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251105

**DATE AS OF CHANGE**: 20251105

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OMNICELL, INC.
- **CENTRAL INDEX KEY:** 0000926326
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRONIC COMPUTERS [3571]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 943166458
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-33043
- **FILM NUMBER:** 251453807

**BUSINESS ADDRESS:**
- **STREET 1:** 4220 NORTH FREEWAY
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76137
- **BUSINESS PHONE:** 8774159990

**MAIL ADDRESS:**
- **STREET 1:** 4220 NORTH FREEWAY
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76137

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OMNICELL, Inc
- **DATE OF NAME CHANGE:** 20070412

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OMNICELL INC /CA/
- **DATE OF NAME CHANGE:** 20010625

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OMNICELL COM /CA/
- **DATE OF NAME CHANGE:** 20000419

?xml version='1.0' encoding='ASCII'? omcl-20250930

<u>[**Table of Contents**](#id0e0966652484221943f156eafeedac2_7)</u>

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

______________________________________________________________________________________________________

**FORM 10-Q**

---

| | |
|:---|:---|
| **(Mark One)** | |
| ☒ | **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |

---

**For the quarterly period ended September 30, 2025**

**OR**

---

| | |
|:---|:---|
| ☐ | **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |
| **For the transition period from&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** | **For the transition period from&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** |

---

**Commission File No. 000-33043** 

**OMNICELL, INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **94-3166458** |
| (State or other jurisdiction of<br>incorporation or organization) | (IRS Employer<br>Identification No.) |

---

**4220 North Freeway**

**Fort Worth, TX 76137** 

(Address of registrant's principal executive offices, including zip code)

**(877) 415-9990** 

(Registrant's telephone number, including area code)

&nbsp;&nbsp;&nbsp;&nbsp;Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of each exchange on which registered** |
| Common Stock, $0.001 par value | OMCL | NASDAQ Global Select Market |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes 🗷&nbsp;&nbsp;&nbsp;&nbsp;No □

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes 🗷&nbsp;&nbsp;&nbsp;&nbsp;No □

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Large Accelerated Filer | ☒ | Accelerated filer | ☐ | Non-accelerated filer | ☐ | Smaller reporting company | ☐ | Emerging growth company | ☐ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ |

---

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐&nbsp;&nbsp;&nbsp;&nbsp;No 🗷

As of October 29, 2025, there were 44,876,522 shares of the registrant's common stock, $0.001 par value, outstanding.

------

<u>[**Table of Contents**](#id0e0966652484221943f156eafeedac2_7)</u>

**OMNICELL, INC.**

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| | | **Page** |
| **<u>[PART I](#id0e0966652484221943f156eafeedac2_10)</u>** | **<u>[FINANCIAL INFORMATION](#id0e0966652484221943f156eafeedac2_10)</u>** | |
| <u>[Item 1.](#id0e0966652484221943f156eafeedac2_13)</u> | <u>[Condensed Consolidated Financial Statements (Unaudited)](#id0e0966652484221943f156eafeedac2_13)</u> | <u>[3](#id0e0966652484221943f156eafeedac2_13)</u> |
|  | <u>[Condensed Consolidated Balance Sheets (Unaudited) as of](#id0e0966652484221943f156eafeedac2_16)[September](#id0e0966652484221943f156eafeedac2_16)[30, 2025 and December 31, 2024](#id0e0966652484221943f156eafeedac2_16)</u> | <u>[3](#id0e0966652484221943f156eafeedac2_16)</u> |
|  | <u>[Condensed Consolidated Statements of Operations (Unaudited) for the three and](#id0e0966652484221943f156eafeedac2_19)[nine](#id0e0966652484221943f156eafeedac2_19)[months ended](#id0e0966652484221943f156eafeedac2_19)[September](#id0e0966652484221943f156eafeedac2_19)[30, 2025 and 2024](#id0e0966652484221943f156eafeedac2_19)</u> | <u>[4](#id0e0966652484221943f156eafeedac2_19)</u> |
|  | <u>[Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) for the three and](#id0e0966652484221943f156eafeedac2_22)[nine](#id0e0966652484221943f156eafeedac2_22)[months ended](#id0e0966652484221943f156eafeedac2_22)[Septem](#id0e0966652484221943f156eafeedac2_22)[ber](#id0e0966652484221943f156eafeedac2_22)[30, 2025 and 2024](#id0e0966652484221943f156eafeedac2_22)</u> | <u>[5](#id0e0966652484221943f156eafeedac2_22)</u> |
|  | <u>[Condensed Consolidated Statements of Stockholders' Equity (Unaudited) for the three and](#id0e0966652484221943f156eafeedac2_25)[nine](#id0e0966652484221943f156eafeedac2_25)[months ended](#id0e0966652484221943f156eafeedac2_25)[September](#id0e0966652484221943f156eafeedac2_25)[30, 2025 and 2024](#id0e0966652484221943f156eafeedac2_25)</u> | <u>[6](#id0e0966652484221943f156eafeedac2_25)</u> |
|  | <u>[Condensed Consolidated Statements of Cash Flows (Unaudited) for the](#id0e0966652484221943f156eafeedac2_28)[nine](#id0e0966652484221943f156eafeedac2_28)[months ended](#id0e0966652484221943f156eafeedac2_28)[September](#id0e0966652484221943f156eafeedac2_28)[30, 2025 and 2024](#id0e0966652484221943f156eafeedac2_28)</u> | <u>[8](#id0e0966652484221943f156eafeedac2_28)</u> |
|  | <u>[Notes to Condensed Consolidated Financial Statements (Unaudited)](#id0e0966652484221943f156eafeedac2_31)</u> | <u>[10](#id0e0966652484221943f156eafeedac2_31)</u> |
| <u>[Item 2.](#id0e0966652484221943f156eafeedac2_100)</u> | <u>[Management's Discussion and Analysis of Financial Condition and Results of Operations](#id0e0966652484221943f156eafeedac2_100)</u> | <u>[29](#id0e0966652484221943f156eafeedac2_100)</u> |
| <u>[Item 3.](#id0e0966652484221943f156eafeedac2_118)</u> | <u>[Quantitative and Qualitative Disclosures about Market Risk](#id0e0966652484221943f156eafeedac2_118)</u> | <u>[42](#id0e0966652484221943f156eafeedac2_118)</u> |
| <u>[Item 4.](#id0e0966652484221943f156eafeedac2_121)</u> | <u>[Controls and Procedures](#id0e0966652484221943f156eafeedac2_121)</u> | <u>[43](#id0e0966652484221943f156eafeedac2_121)</u> |
| **<u>[PART II](#id0e0966652484221943f156eafeedac2_124)</u>** | **<u>[OTHER INFORMATION](#id0e0966652484221943f156eafeedac2_124)</u>** | <u>[44](#id0e0966652484221943f156eafeedac2_124)</u> |
| <u>[Item 1.](#id0e0966652484221943f156eafeedac2_127)</u> | <u>[Legal Proceedings](#id0e0966652484221943f156eafeedac2_127)</u> | <u>[44](#id0e0966652484221943f156eafeedac2_127)</u> |
| <u>[Item 1A.](#id0e0966652484221943f156eafeedac2_130)</u> | <u>[Risk Factors](#id0e0966652484221943f156eafeedac2_130)</u> | <u>[44](#id0e0966652484221943f156eafeedac2_130)</u> |
| <u>[Item 2.](#id0e0966652484221943f156eafeedac2_133)</u> | <u>[Unregistered Sales of Equity Securities and Use of Proceeds](#id0e0966652484221943f156eafeedac2_133)</u> | <u>[46](#id0e0966652484221943f156eafeedac2_133)</u> |
| <u>[Item 3.](#id0e0966652484221943f156eafeedac2_136)</u> | <u>[Defaults Upon Senior Securities](#id0e0966652484221943f156eafeedac2_136)</u> | <u>[46](#id0e0966652484221943f156eafeedac2_136)</u> |
| <u>[Item 4.](#id0e0966652484221943f156eafeedac2_139)</u> | <u>[Mine Safety Disclosures](#id0e0966652484221943f156eafeedac2_139)</u> | <u>[46](#id0e0966652484221943f156eafeedac2_139)</u> |
| <u>[Item 5.](#id0e0966652484221943f156eafeedac2_142)</u> | <u>[Other Information](#id0e0966652484221943f156eafeedac2_142)</u> | <u>[46](#id0e0966652484221943f156eafeedac2_142)</u> |
| <u>[Item 6.](#id0e0966652484221943f156eafeedac2_148)</u> | <u>[Exhibits](#id0e0966652484221943f156eafeedac2_148)</u> | <u>[47](#id0e0966652484221943f156eafeedac2_148)</u> |
| <u>[Signature](#id0e0966652484221943f156eafeedac2_151)</u> | <u>[Signature](#id0e0966652484221943f156eafeedac2_151)</u> | <u>[48](#id0e0966652484221943f156eafeedac2_151)</u> |

---

------

<u>[**Table of Contents**](#id0e0966652484221943f156eafeedac2_7)</u>

**PART I. FINANCIAL INFORMATION**

**ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)**

**OMNICELL, INC.**

**CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)**

---

| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| | **(In thousands, except par value)** | **(In thousands, except par value)** |
| **ASSETS** | **ASSETS** | **ASSETS** |
| Current assets: |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $180053 | $369201 |
| &nbsp;&nbsp;Accounts receivable and unbilled receivables, net of allowances of $10,147 and $6,645, respectively | 245720 | 256398 |
| &nbsp;&nbsp;&nbsp;Inventories | 107429 | 88659 |
| &nbsp;&nbsp;&nbsp;Prepaid expenses | 30247 | 25942 |
| &nbsp;&nbsp;&nbsp;Other current assets | 96171 | 75293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 659620 | 815493 |
| Property and equipment, net | 119612 | 112692 |
| Long-term investment in sales-type leases, net | 54318 | 52744 |
| Operating lease right-of-use assets | 26092 | 25607 |
| Goodwill | 737872 | 734727 |
| Intangible assets, net | 172044 | 188266 |
| Long-term deferred tax assets | 56391 | 57469 |
| Prepaid commissions | 52559 | 54656 |
| Other long-term assets | 70089 | 79306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $1948597 | $2120960 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** | **LIABILITIES AND STOCKHOLDERS' EQUITY** | **LIABILITIES AND STOCKHOLDERS' EQUITY** |
| Current liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts payable | $62486 | $51782 |
| &nbsp;&nbsp;&nbsp;Accrued compensation | 49983 | 60307 |
| &nbsp;&nbsp;&nbsp;Accrued liabilities | 165342 | 167895 |
| &nbsp;&nbsp;&nbsp;Deferred revenues | 178777 | 141370 |
| &nbsp;&nbsp;&nbsp;Convertible senior notes, net |  | 174324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 456588 | 595678 |
| Long-term deferred revenues | 66723 | 76123 |
| Long-term deferred tax liabilities | 1263 | 1108 |
| Long-term operating lease liabilities | 27600 | 31123 |
| Other long-term liabilities | 8227 | 7218 |
| Convertible senior notes, net | 167294 | 166397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | 727695 | 877647 |
| Commitments and contingencies (Note 14) |  |  |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;Preferred stock, $0.001 par value, 5,000 shares authorized; no shares issued |  |  |
| &nbsp;&nbsp;Common stock, $0.001 par value, 100,000 shares authorized; 57,682 and 56,665 shares issued; 44,876 and 46,382 shares outstanding, respectively | 58 | 57 |
| &nbsp;&nbsp;Treasury stock at cost, 12,806 and 10,283 shares outstanding, respectively | (368361) | (290319) |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 1211495 | 1167882 |
| &nbsp;&nbsp;&nbsp;Retained earnings | 386966 | 382888 |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (9256) | (17195) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total stockholders' equity** | 1220902 | 1243313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and stockholders' equity** | $1948597 | $2120960 |

---

The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements.

------

<u>[**Table of Contents**](#id0e0966652484221943f156eafeedac2_7)</u>

**OMNICELL, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| | **(In thousands, except per share data)** | **(In thousands, except per share data)** | **(In thousands, except per share data)** | **(In thousands, except per share data)** |
| **Revenues:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Product revenues | $177498 | $158361 | $485838 | $448236 |
| &nbsp;&nbsp;&nbsp;&nbsp;Service revenues | 133133 | 124059 | 385023 | 357123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenues | 310631 | 282420 | 870861 | 805359 |
| **Cost of revenues:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of product revenues | 96741 | 94448 | 274245 | 286270 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of service revenues | 79387 | 65704 | 223499 | 189847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total cost of revenues | 176128 | 160152 | 497744 | 476117 |
| **Gross profit** | 134503 | 122268 | 373117 | 329242 |
| **Operating expenses:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Research and development | 24021 | 21214 | 66120 | 64372 |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling, general, and administrative | 102238 | 94490 | 302252 | 276929 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 126259 | 115704 | 368372 | 341301 |
| **Income (loss) from operations** | 8244 | 6564 | 4745 | (12059) |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and other income (expense), net | 1459 | 5063 | 5881 | 14052 |
| Income before income taxes | 9703 | 11627 | 10626 | 1993 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | 4241 | 2997 | 6548 | 5304 |
| **Net income (loss)** | $5462 | $8630 | $4078 | $(3311) |
| **Net income (loss) per share:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | $0.12 | $0.19 | $0.09 | $(0.07) |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | $0.12 | $0.19 | $0.09 | $(0.07) |
| **Weighted-average shares outstanding:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic | 45540 | 46153 | 46304 | 45947 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted | 45900 | 46427 | 46657 | 45947 |

---

The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements.

------

<u>[**Table of Contents**](#id0e0966652484221943f156eafeedac2_7)</u>

**OMNICELL, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** |
| Net income (loss) | $5462 | $8630 | $4078 | $(3311) |
| Other comprehensive income (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign currency translation adjustments | (1737) | 4575 | 7939 | 3129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income (loss) | (1737) | 4575 | 7939 | 3129 |
| **Comprehensive income (loss)** | $3725 | $13205 | $12017 | $(182) |

---

The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements.

------

<u>[**Table of Contents**](#id0e0966652484221943f156eafeedac2_7)</u>

**OMNICELL, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Common Stock** | **Common Stock** | **Treasury Stock** | **Treasury Stock** | **Additional<br>Paid-In Capital** | **Retained<br>Earnings** | **Accumulated Other<br>Comprehensive Income (Loss)** | **Stockholders'<br>Equity** |
| | **Shares** | **Amount** | **Shares** | **Amount** | **Additional<br>Paid-In Capital** | **Retained<br>Earnings** | **Accumulated Other<br>Comprehensive Income (Loss)** | **Stockholders'<br>Equity** |
| | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** |
| **Balances as of December 31, 2024** | 56665 | $57 | (10283) | $(290319) | $1167882 | $382888 | $(17195) | $1243313 |
| &nbsp;&nbsp;&nbsp;Net loss |  |  |  |  |  | (7023) |  | (7023) |
| &nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 3388 | 3388 |
| &nbsp;&nbsp;&nbsp;Share-based compensation |  |  |  |  | 11547 |  |  | 11547 |
| &nbsp;&nbsp;&nbsp;Issuance of common stock under employee stock plans | 462 |  |  |  | 8266 |  |  | 8266 |
| &nbsp;&nbsp;&nbsp;Tax payments related to restricted stock units |  |  |  |  | (2391) |  |  | (2391) |
| **Balances as of March 31, 2025** | 57127 | $57 | (10283) | $(290319) | $1185304 | $375865 | $(13807) | $1257100 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  |  | 5639 |  | 5639 |
| &nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 6288 | 6288 |
| &nbsp;&nbsp;&nbsp;Share-based compensation |  |  |  |  | 11205 |  |  | 11205 |
| &nbsp;&nbsp;&nbsp;Issuance of common stock under employee stock plans | 111 |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Tax payments related to restricted stock units |  |  |  |  | (961) |  |  | (961) |
| &nbsp;&nbsp;&nbsp;Common stock repurchases |  |  | (536) | (15652) |  |  |  | (15652) |
| **Balances as of June 30, 2025** | 57238 | $57 | (10819) | $(305971) | $1195548 | $381504 | $(7519) | $1263619 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  |  | 5462 |  | 5462 |
| &nbsp;&nbsp;&nbsp;Other comprehensive loss |  |  |  |  |  |  | (1737) | (1737) |
| &nbsp;&nbsp;&nbsp;Share-based compensation |  |  |  |  | 11663 |  |  | 11663 |
| &nbsp;&nbsp;&nbsp;Issuance of common stock under employee stock plans | 444 | 1 |  |  | 6895 |  |  | 6896 |
| &nbsp;&nbsp;&nbsp;Tax payments related to restricted stock units |  |  |  |  | (2611) |  |  | (2611) |
| &nbsp;&nbsp;&nbsp;Common stock repurchases, including excise tax |  |  | (1987) | (62390) |  |  |  | (62390) |
| **Balances as of September 30, 2025** | 57682 | $58 | (12806) | $(368361) | $1211495 | $386966 | $(9256) | $1220902 |

---

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Common Stock** | **Common Stock** | **Treasury Stock** | **Treasury Stock** | **Additional<br>Paid-In Capital** | **Retained<br>Earnings** | **Accumulated Other<br>Comprehensive Income (Loss)** | **Stockholders'<br>Equity** |
| | **Shares** | **Amount** | **Shares** | **Amount** | **Additional<br>Paid-In Capital** | **Retained<br>Earnings** | **Accumulated Other<br>Comprehensive Income (Loss)** | **Stockholders'<br>Equity** |
| | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** |
| **Balances as of December 31, 2023** | 55822 | $56 | (10283) | $(290319) | $1122292 | $370357 | $(13432) | $1188954 |
| &nbsp;&nbsp;&nbsp;Net loss |  |  |  |  |  | (15676) |  | (15676) |
| &nbsp;&nbsp;&nbsp;Other comprehensive loss |  |  |  |  |  |  | (1399) | (1399) |
| &nbsp;&nbsp;&nbsp;Share-based compensation |  |  |  |  | 9381 |  |  | 9381 |
| &nbsp;&nbsp;&nbsp;Issuance of common stock under employee stock plans | 385 |  |  |  | 8042 |  |  | 8042 |
| &nbsp;&nbsp;&nbsp;Tax payments related to restricted stock units |  |  |  |  | (705) |  |  | (705) |
| **Balances as of March 31, 2024** | 56207 | $56 | (10283) | $(290319) | $1139010 | $354681 | $(14831) | $1188597 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  |  | 3735 |  | 3735 |
| &nbsp;&nbsp;&nbsp;Other comprehensive loss |  |  |  |  |  |  | (47) | (47) |
| &nbsp;&nbsp;&nbsp;Share-based compensation |  |  |  |  | 11010 |  |  | 11010 |
| &nbsp;&nbsp;&nbsp;Issuance of common stock under employee stock plans | 70 |  |  |  | 99 |  |  | 99 |
| &nbsp;&nbsp;&nbsp;Tax payments related to restricted stock units |  |  |  |  | (586) |  |  | (586) |
| **Balances as of June 30, 2024** | 56277 | $56 | (10283) | $(290319) | $1149533 | $358416 | $(14878) | $1202808 |
| &nbsp;&nbsp;&nbsp;Net income |  |  |  |  |  | 8630 |  | 8630 |
| &nbsp;&nbsp;&nbsp;Other comprehensive income |  |  |  |  |  |  | 4575 | 4575 |
| &nbsp;&nbsp;&nbsp;Share-based compensation |  |  |  |  | 12569 |  |  | 12569 |
| &nbsp;&nbsp;&nbsp;Issuance of common stock under employee stock plans | 319 | 1 |  |  | 4998 |  |  | 4999 |
| &nbsp;&nbsp;&nbsp;Tax payments related to restricted stock units |  |  |  |  | (2253) |  |  | (2253) |
| **Balances as of September 30, 2024** | 56596 | $57 | (10283) | $(290319) | $1164847 | $367046 | $(10303) | $1231328 |

---

The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements.

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<u>[**Table of Contents**](#id0e0966652484221943f156eafeedac2_7)</u>

**OMNICELL, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)**

---

| | | |
|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** |
| | **(In thousands)** | **(In thousands)** |
| **Operating Activities** |  |  |
| Net income (loss) | $4078 | $(3311) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | Adjustments to reconcile net income (loss) to net cash provided by operating activities: | Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 58984 | 62266 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on disposal of assets | 408 | 412 |
| &nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation expense | 32526 | 30277 |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 1233 | (9401) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of operating lease right-of-use assets | 5868 | 5279 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory write-down |  | 5393 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt issuance costs | 2155 | 2917 |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable and unbilled receivables | 12450 | 1174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | (17731) | 10038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses | (4305) | (2918) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current assets | (10037) | 8354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment in sales-type leases | (2493) | (7453) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid commissions | 2097 | 2684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other long-term assets | 5919 | 1048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 10695 | 2945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued compensation | (10999) | (6664) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | (13059) | 6963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenues | 26901 | 27746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease liabilities | (8753) | (8021) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other long-term liabilities | 1009 | 1679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by operating activities | 96946 | 131407 |
| **Investing Activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;External-use software development costs | (13237) | (11849) |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of property and equipment | (32706) | (27376) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities | (45943) | (39225) |
| **Financing Activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repayment of convertible senior notes due 2025 | (175000) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from issuances under stock-based compensation plans | 15162 | 13140 |
| &nbsp;&nbsp;&nbsp;&nbsp;Employees' taxes paid related to restricted stock units | (5963) | (3544) |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock repurchases | (77600) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in customer funds, net | 15989 | (10744) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in financing activities | (227412) | (1148) |
| Effect of exchange rate changes on cash and cash equivalents | 3250 | 879 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | (173159) | 91913 |
| Cash, cash equivalents, and restricted cash at beginning of period | 398614 | 500979 |
| Cash, cash equivalents, and restricted cash at end of period | $225455 | $592892 |

---

The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements.

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<u>[**Table of Contents**](#id0e0966652484221943f156eafeedac2_7)</u>

**OMNICELL, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED) (UNAUDITED)** 

---

| | | |
|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** |
| | **(In thousands)** | **(In thousands)** |
| **Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets:** | **Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets:** | **Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheets:** |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $180053 | $570628 |
| &nbsp;&nbsp;&nbsp;&nbsp;Restricted cash included in other current assets | 45402 | 22264 |
| Cash, cash equivalents, and restricted cash at end of period | $225455 | $592892 |
| **Supplemental disclosure of non-cash investing and financing activities:** | **Supplemental disclosure of non-cash investing and financing activities:** | **Supplemental disclosure of non-cash investing and financing activities:** |
| Unpaid purchases of property and equipment | $510 | $432 |
| Excise tax payable on common stock repurchases | $442 | $— |

---

The accompanying notes are an integral part of these unaudited Condensed Consolidated Financial Statements.

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<u>[**Table of Contents**](#id0e0966652484221943f156eafeedac2_7)</u>

**OMNICELL, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)**

**Note 1. Organization and Summary of Significant Accounting Policies** 

**Business**

Omnicell, Inc. was incorporated in California in 1992 under the name Omnicell Technologies, Inc. and reincorporated in Delaware in 2001 as Omnicell, Inc. The Company's major products and related services are medication management solutions and adherence tools for healthcare systems and pharmacies, which are sold in its principal market, the healthcare industry. The Company's market is primarily located in the United States. "Omnicell" or the "Company" refer to Omnicell, Inc. and its subsidiaries, collectively.

**Basis of Presentation**

The accompanying unaudited Condensed Consolidated Financial Statements reflect, in the opinion of management, all adjustments, consisting of normal recurring adjustments and accruals, necessary to present fairly the financial position of the Company as of September 30, 2025 and December 31, 2024, and the results of operations and comprehensive income (loss) for the three and nine months ended September 30, 2025 and 2024, and cash flows for the nine months ended September 30, 2025 and 2024. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. Generally Accepted Accounting Principles ("GAAP") have been condensed or omitted in accordance with the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and accompanying Notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 27, 2025. The Company's results of operations and comprehensive income (loss) for the three and nine months ended September 30, 2025, and cash flows for the nine months ended September 30, 2025 are not necessarily indicative of results that may be expected for the year ending December 31, 2025, or for any future period.

**Principles of Consolidation**

The Condensed Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

**Use of Estimates**

The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company's Condensed Consolidated Financial Statements and accompanying Notes to Condensed Consolidated Financial Statements. These estimates are based on historical experience and various other assumptions that management believes to be reasonable. Although these estimates are based on management's best knowledge of current events and actions that may impact the Company in the future, actual results may be different from the estimates. The Company's critical accounting estimates are those that affect its financial statements materially and involve difficult, subjective, or complex judgments by management. Those estimates are revenue recognition, inventory valuation, and accounting for income taxes. As of September 30, 2025, the Company is not aware of any events or circumstances that would require an update to its estimates, judgments, or revisions to the carrying value of its assets or liabilities.

**Segment Reporting**

The Company manages its operations as a single segment for the purposes of assessing performance and making operating decisions. The Company's Chief Operating Decision Maker ("CODM") is its Chief Executive Officer. The CODM allocates resources and evaluates the performance of the Company at the consolidated level using the Company's consolidated net income (loss). In addition, the CODM is provided with certain segment assets and liabilities, primarily those that impact liquidity, as well as certain significant expenses. All significant operating decisions are based upon an analysis of the Company as one operating segment, which is the same as its reporting segment. Refer to Note 2, *Segment Information*, for further information regarding the Company's segment disclosures.

**Recently Adopted Authoritative Guidance**

There was no recently adopted authoritative guidance that is expected to have a material impact on the Company's Condensed Consolidated Financial Statements through the reporting date.

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<u>[**Table of Contents**](#id0e0966652484221943f156eafeedac2_7)</u>

**Recently Issued Authoritative Guidance**

In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-09, *Income Taxes (Topic 740): Improvements to Income Tax Disclosures*, which includes amendments that further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. The amendments are effective for the Company's annual periods beginning January 1, 2025, with early adoption permitted, and should be applied either prospectively or retrospectively. The Company plans to adopt ASU 2023-09 on a prospective basis for its fiscal year beginning January 1, 2025. Because the standard only affects disclosure requirements and not recognition or measurement of income taxes, the Company does not expect adoption to have a material impact on its consolidated financial condition, results of operations, or cash flows. The Company is currently evaluating the impact of the required disclosures on its consolidated financial statement disclosures.

In March 2024, the SEC issued final rules under SEC Release No. 33-11275, *"The Enhancement and Standardization of Climate-Related Disclosures for Investors,"* to require registrants to disclose certain climate-related information, including Scope 1 and Scope 2 greenhouse gas emissions and other climate-related topics, if material, in registration statements and annual reports. In April 2024, the SEC voluntarily stayed its climate disclosure rules as a result of pending legal challenges to facilitate an orderly judicial resolution. In March 2025, the SEC stated that it has ended its defense of the rule. The Company will continue to monitor any developments in the SEC's rule and related litigation to determine what, if any, impact it will have on its consolidated financial statement disclosures.

In November 2024, the FASB issued ASU 2024-03, *Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosure (Subtopic 220-40): Disaggregation of Income Statement Expenses*, which requires disclosures of additional information and disaggregation of certain expenses included in the income statement. The amendments are effective for the Company's annual periods beginning January 1, 2027, and for interim periods within fiscal years beginning January 1, 2028, with early adoption permitted, and should be applied either prospectively or retrospectively. The Company is currently evaluating the impact ASU 2024-03 will have on its consolidated financial statements.

In September 2025, the FASB issued ASU 2025-06, *Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal Use Software,* which removes all references to software development project stages, and requires capitalization of software costs to begin when (i) management has authorized and committed to funding the software project, and (ii) it is probable the project will be completed and the software will be used to perform its intended function. The amendments are effective for the Company's annual periods beginning January 1, 2028, and for interim periods within fiscal years beginning January 1, 2028, with early adoption permitted, and can be applied prospectively, retrospectively, or utilizing a modified transition approach. The Company is currently evaluating the impact ASU 2025-06 will have on its consolidated financial statements.

There was no other recently issued and effective authoritative guidance that is expected to have a material impact on the Company's Condensed Consolidated Financial Statements through the reporting date.

**Note 2. Segment Information**

The Company's one reportable segment derives revenues from sales of its products and related services, as described in Note 3, *Revenues,* which are sold in its principal market, the healthcare industry.

As the Company has a single reportable segment and is managed on a consolidated basis, the measure of segment profit or loss that the CODM uses to allocate resources and assess performance is consolidated net income (loss) as reported on the Condensed Consolidated Statements of Operations. The CODM uses this key measure to evaluate income generated from segment assets in deciding how to reinvest profits as well as monitor budget versus actual results.

The CODM is also provided with certain segment assets, primarily those that impact liquidity, such as cash and cash equivalents, accounts receivable and inventories, as well as certain liabilities such as accounts payable and outstanding debt. Assets and liabilities provided to the CODM are consistent with those reported on the Condensed Consolidated Balance Sheets. In addition, the CODM is regularly provided with significant expenses, which are adjusted cost of revenues and adjusted operating expenses. These significant expenses are adjusted for certain non-cash charges and expenses that are unrelated to the Company's ongoing operations. Adjusted cost of revenues include cost of product revenues and cost of service revenues, and exclude certain items such as share-based compensation expense, amortization of acquired intangibles, and certain restructuring and severance charges. Adjusted operating expenses include research and development, and selling, general and administrative expenses, and exclude certain items such as share-based compensation expense, amortization of acquired intangibles, legal and regulatory expenses, and certain restructuring and severance charges. Depreciation and amortization expense for the Company's single reportable segment was $19.4 million and $20.2 million for the three months ended September 30, 2025 and 2024, respectively, and $59.0 million and $62.3 million for the nine months ended September 30, 2025 and 2024, respectively.

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The following table summarizes the Company's reportable segment revenues and significant expenses, reconciled to the Company's consolidated net income (loss):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** |
| Total revenues | $310631 | $282420 | $870861 | $805359 |
| Less: |  |  |  |  |
| &nbsp;&nbsp;Adjusted cost of revenues | (173254) | (156777) | (489951) | (459433) |
| &nbsp;&nbsp;Adjusted operating expenses | (109941) | (101062) | (320034) | (300261) |
| &nbsp;&nbsp;Other segment items <sup>(1)</sup> | (19192) | (18017) | (56131) | (57724) |
| Interest and other income (expense), net | 1459 | 5063 | 5881 | 14052 |
| Provision for income taxes | 4241 | 2997 | 6548 | 5304 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) | $5462 | $8630 | $4078 | $(3311) |

---

_________________________________________________

<sup>(1)</sup> Other segment items include certain non-cash charges and expenses that are unrelated to the Company's ongoing operations. Such charges and expenses consist of items such as share-based compensation, amortization of acquired intangible assets, legal and regulatory expenses, and certain restructuring and severance charges.

**Note 3. Revenues**

**Revenue Recognition**

The Company earns revenues from sales of its products and related services, which are sold in the healthcare industry, its principal market. The Company's customer arrangements typically include one or more of the following revenue categories:

*Connected devices, software licenses, and other.* Software-enabled connected devices and software licenses that manage and regulate the storage and dispensing of pharmaceuticals, consumables blister cards, and packaging equipment and other supplies. This revenue category is often sold through long-term, sole-source agreements. Solutions in this category include, but are not limited to, XT Series automated dispensing systems and products related to the Central Pharmacy Dispensing Service and IV Compounding Service.

*Consumables.* Medication adherence packaging, labeling, and other one-time use packaging including multimed adherence packaging and single dose blister cards, which are used by retail, community, and outpatient pharmacies, as well as by institutional pharmacies serving long-term care and other sites outside the acute care hospital, and are designed to improve patient engagement and adherence to prescriptions.

*Technical services.* Post-installation technical support and other related services (support and maintenance), including phone support, on-site service, parts, and access to unspecified software updates and enhancements, if and when available. This revenue category is often supported by multi-year or annual contractual agreements.

*Software as a Service ("SaaS") and Expert Services.* Emerging software and service solutions which are offered on a subscription basis with fees typically based either on transaction volume or a fee over a specified period of time. Solutions in this category include, but are not limited to, EnlivenHealth<sup>®</sup>, Specialty Pharmacy Services, 340B solutions, Inventory Optimization Service, other software solutions, and services related to the Central Pharmacy Dispensing Service and IV Compounding Service.

The following table summarizes revenue recognition for each revenue category:

---

| | | |
|:---|:---|:---|
| **Revenue Category** | **Timing of Revenue Recognition** | **Income Statement Classification** |
| Connected devices, software licenses, and other | Point in time, as transfer of control occurs, generally upon installation and acceptance by the customer | Product |
| Consumables | Point in time, as transfer of control occurs, generally upon shipment to, or receipt by, customer | Product |
| Technical services | Over time, as services are provided, typically ratably over the service term | Service |
| SaaS and Expert Services | Over time, as services are provided | Service |

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A portion of the Company's sales are made to customers who are members of Group Purchasing Organizations ("GPOs") and Federal agencies that purchase under a Federal Supply Schedule Contract with the Department of Veterans Affairs (the "GSA Contract"). GPOs are often fully or partially owned by the Company's customers, and the Company pays fees to the GPO on completed contracts. The Company also pays the Industrial Funding Fee ("IFF") to the Department of Veterans Affairs under the GSA Contract. The Company considers these fees consideration paid to customers and records them as reductions to revenue. Fees to GPOs and the IFF were $2.8 million and $2.5 million for the three months ended September 30, 2025 and 2024, respectively, and $6.6 million and $6.9 million for the nine months ended September 30, 2025 and 2024, respectively.

**Disaggregation of Revenues**

The following table summarizes the Company's revenues disaggregated by revenue type:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** |
| Connected devices, software licenses, and other | $152561 | $135672 | $411258 | $381280 |
| Consumables | 24937 | 22689 | 74580 | 66956 |
| Technical services | 67275 | 59583 | 192420 | 177419 |
| SaaS and Expert Services | 65858 | 64476 | 192603 | 179704 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenues | $310631 | $282420 | $870861 | $805359 |

---

The following table summarizes the Company's revenues disaggregated by geographic region, which is determined based on customer location:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** |
| United States | $278195 | $258177 | $790905 | $731670 |
| Rest of world <sup>(1)</sup> | 32436 | 24243 | 79956 | 73689 |
| &nbsp;&nbsp;&nbsp;Total revenues | $310631 | $282420 | $870861 | $805359 |

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________________________________________________

<sup>(1)&nbsp;&nbsp;&nbsp;&nbsp;</sup>No individual country represented more than 10% of total revenues.

**Contract Assets and Contract Liabilities**

The following table reflects the Company's contract assets and contract liabilities:

---

| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| | **(In thousands)** | **(In thousands)** |
| Short-term unbilled receivables, net <sup>(1)</sup> | $46414 | $32917 |
| Long-term unbilled receivables, net <sup>(2)</sup> | 3355 | 7873 |
| &nbsp;&nbsp;&nbsp;Total contract assets | $49769 | $40790 |
| Short-term deferred revenues | $178777 | $141370 |
| Long-term deferred revenues | 66723 | 76123 |
| &nbsp;&nbsp;&nbsp;Total contract liabilities | $245500 | $217493 |

---

_________________________________________________

<sup>(1)&nbsp;&nbsp;&nbsp;&nbsp;</sup>Included in accounts receivable and unbilled receivables in the Condensed Consolidated Balance Sheets.

<sup>(2)&nbsp;&nbsp;&nbsp;&nbsp;</sup>Included in other long-term assets in the Condensed Consolidated Balance Sheets.

The portion of the transaction price allocated to the Company's unsatisfied performance obligations for which invoicing has occurred is recorded as deferred revenues.

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During the three and nine months ended September 30, 2025, the Company recognized revenues of $20.7 million and $113.5 million, respectively, that were included in the corresponding short-term deferred revenues balance of $141.4 million as of December 31, 2024.

Deferred revenues from product sales primarily relate to delivered and invoiced products, pending installation and acceptance. Deferred revenues from service contracts primarily relate to services that have been invoiced, but services have not yet been provided. Short-term deferred revenues are expected to be recognized within the next twelve months. Long-term deferred revenues substantially consist of deferred revenues on long-term technical and SaaS and Expert Services contracts which have been invoiced and are expected to be recognized as revenue beyond twelve months, generally not more than ten years. The Company generally invoices customers for products upon shipment. Invoicing associated with the service portion of agreements is generally periodic and is billed on a monthly, quarterly, or annual basis, and in certain circumstances, multiple years are billed at one time. SaaS and Expert Services agreements are generally invoiced periodically on a monthly, quarterly or annual basis over the life of the agreement. In certain circumstances, portions of these agreements may be invoiced lump sum.

In addition, the Company has remaining performance obligations associated with contracts for which the associated products have been accepted or associated services have started, but where invoicing has not yet occurred and therefore are not reflected in deferred revenue. These remaining performance obligations are comprised of the non-variable portions of technical services and SaaS and Expert Services provided under non-cancellable contracts with minimum commitments. Remaining performance obligations which are not included in deferred revenues were $379.0 million as of September 30, 2025. Remaining performance obligations are expected to be recognized ratably over the remaining terms of the associated contracts, which terms vary but are generally not more than ten years. Remaining performance obligations do not include product obligations, services where the associated product has not been accepted, services which have not yet started, variable portions of services, and certain other obligations.

**Significant Customers**

There were no customers that accounted for more than 10% of the Company's total revenues for the three and nine months ended September 30, 2025 and 2024. Also, there were no customers that accounted for more than 10% of the Company's accounts receivable and unbilled receivables balance as of September 30, 2025 and December 31, 2024.

**Note 4. Net Income (Loss) Per Share**

Basic net income (loss) per share is computed by dividing net income (loss) for the period by the weighted-average number of shares outstanding during the period. In periods of net loss, all potential common shares are anti-dilutive, so diluted net loss per share equals the basic net loss per share. In periods of net income, diluted net income per share is computed by dividing net income for the period by the basic weighted-average number of shares plus any dilutive potential common stock outstanding during the period, using the treasury stock method for share-based awards and warrants, and the if-converted method for convertible senior notes. Potential common stock includes the effect of outstanding dilutive stock options, restricted stock awards, and restricted stock units, as well as shares the Company could be obligated to issue from its convertible senior notes and warrants, as described in Note 11, *Convertible Senior Notes*. In the event of the conversion of the Company's convertible senior notes, the principal portion will be settled in cash with any conversion consideration in excess of the principal portion settled in cash and/or shares of the Company's common stock at the Company's option, therefore, only the amounts expected to be settled in excess of the principal portion are considered dilutive in calculating earnings per share under the if-converted method. Any anti-dilutive weighted-average dilutive shares related to stock award plans, convertible senior notes, and warrants are excluded from the computation of the diluted net income per share.

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The basic and diluted net income (loss) per share calculations were as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| | **(In thousands, except per share data)** | **(In thousands, except per share data)** | **(In thousands, except per share data)** | **(In thousands, except per share data)** |
| Net income (loss) | $5462 | $8630 | $4078 | $(3311) |
| Weighted-average shares outstanding – basic | 45540 | 46153 | 46304 | 45947 |
| Effect of dilutive securities from stock award plans | 360 | 274 | 353 |  |
| &nbsp;&nbsp;&nbsp;Weighted-average shares outstanding – diluted | 45900 | 46427 | 46657 | 45947 |
| Net income (loss) per share – basic | $0.12 | $0.19 | $0.09 | $(0.07) |
| Net income (loss) per share – diluted | $0.12 | $0.19 | $0.09 | $(0.07) |
| Anti-dilutive weighted-average shares related to stock award plans | 2671 | 2687 | 2557 | 3767 |
| Anti-dilutive weighted-average shares related to convertible senior notes and warrants | 6026 | 11816 | 6026 | 11816 |

---

**Note 5. Cash and Cash Equivalents and Fair Value of Financial Instruments**

Cash and cash equivalents of $180.1 million and $369.2 million as of September 30, 2025 and December 31, 2024, respectively, consisted of bank accounts and highly-liquid U.S. Government money market funds held in sweep and asset management accounts with financial institutions of high credit quality. As of September 30, 2025 and December 31, 2024, cash equivalents were $131.1 million and $328.0 million, respectively, which consisted of money market funds held in sweep and asset management accounts. The Company recorded interest income on its cash and cash equivalents of $3.2 million and $7.0 million for the three months ended September 30, 2025 and 2024, respectively, and $10.5 million and $19.6 million for the nine months ended September 30, 2025 and 2024, respectively, which is included within interest and other income (expense), net in the Condensed Consolidated Statements of Operations.

**Fair Value Hierarchy**

The Company measures its financial instruments at fair value. The Company's cash, cash equivalents, and restricted cash are classified within Level 1 of the fair value hierarchy as they are valued primarily using quoted market prices utilizing market observable inputs. The Company's credit facility is classified within Level 2 as the valuation inputs are based on quoted prices or market observable data of similar instruments. The Company's convertible senior notes are classified within Level 2 as the valuation inputs are based on quoted prices in an inactive market on the last day in the reporting period. Refer to Note 10, *Debt and Credit Agreement,* for further information regarding the Company's credit facility and Note 11, *Convertible Senior Notes,* for further information regarding the Company's convertible senior notes.

The following table summarizes the carrying amounts, net of unamortized debt issuance costs, and fair values of the convertible senior notes:

---

| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| | **(In thousands)** | **(In thousands)** |
| Net carrying amount: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 Notes |  | 174324 |
| &nbsp;&nbsp;&nbsp;&nbsp;2029 Notes | 167294 | 166397 |
| Total net carrying amount | $167294 | $340721 |
| Fair value: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 Notes | $— | $167129 |
| &nbsp;&nbsp;&nbsp;&nbsp;2029 Notes | 159908 | 181320 |
| Total fair value | $159908 | $348449 |

---

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**Note 6. Balance Sheet Components**

Balance sheet details are presented in the tables below:

---

| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| | **(In thousands)** | **(In thousands)** |
| **Inventories:** | | |
| &nbsp;&nbsp;&nbsp;Raw materials | $29093 | $33501 |
| &nbsp;&nbsp;&nbsp;Work in process | 2257 | 1515 |
| &nbsp;&nbsp;&nbsp;Finished goods | 76079 | 53643 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total inventories | $107429 | $88659 |
| **Other current assets:** |  |  |
| &nbsp;&nbsp;Funds held for customers, including restricted cash <sup>(1)</sup> | $57252 | $47846 |
| &nbsp;&nbsp;&nbsp;Deferred cost of sales | 16456 | 8704 |
| &nbsp;&nbsp;&nbsp;Net investment in sales-type leases, current portion | 13394 | 12475 |
| &nbsp;&nbsp;&nbsp;Prepaid income taxes | 4182 | 1334 |
| &nbsp;&nbsp;&nbsp;Other current assets | 4887 | 4934 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other current assets | $96171 | $75293 |
| **Other long-term assets:** |  |  |
| &nbsp;&nbsp;&nbsp;External-use software development costs, net | $55720 | $58436 |
| &nbsp;&nbsp;&nbsp;Unbilled receivables, net | 3355 | 7873 |
| &nbsp;&nbsp;&nbsp;Deferred debt issuance costs | 2359 | 2940 |
| &nbsp;&nbsp;&nbsp;Other long-term assets | 8655 | 10057 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total other long-term assets | $70089 | $79306 |
| **Accrued liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;Operating lease liabilities, current portion | $11890 | $10702 |
| &nbsp;&nbsp;&nbsp;Customer fund liabilities | 57252 | 47846 |
| &nbsp;&nbsp;&nbsp;Advance payments from customers | 11060 | 12760 |
| &nbsp;&nbsp;&nbsp;Rebate liabilities | 49702 | 49300 |
| &nbsp;&nbsp;&nbsp;Taxes payable | 3980 | 11443 |
| &nbsp;&nbsp;&nbsp;Other accrued liabilities | 31458 | 35844 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total accrued liabilities | $165342 | $167895 |

---

_________________________________________________

<sup>(1)</sup> &nbsp;&nbsp;&nbsp;&nbsp;Includes restricted cash of $45.4 million and $29.4 million as of September 30, 2025 and December 31, 2024, respectively.

The Company capitalizes certain costs associated with cloud computing arrangements that are associated with service contracts, which are amortized using the straight-line method over the term of the arrangement. As of September 30, 2025 and December 31, 2024, capitalized costs associated with cloud computing arrangements, net of accumulated amortization, were $4.9 million and $5.0 million, respectively.

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The following table summarizes the changes in accumulated balances of other comprehensive income (loss), which consisted of foreign currency translation adjustments:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** |
| Beginning balance | $(7519) | $(14878) | $(17195) | $(13432) |
| &nbsp;&nbsp;&nbsp;Other comprehensive income (loss): | (1737) | 4575 | 7939 | 3129 |
| Ending balance | $(9256) | $(10303) | $(9256) | $(10303) |

---

**Note 7. Property and Equipment**

The following table represents the property and equipment balances:

---

| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| | **(In thousands)** | **(In thousands)** |
| Equipment | $103020 | $99728 |
| Furniture and fixtures | 4934 | 4809 |
| Leasehold improvements | 18151 | 17722 |
| Purchased software and internal-use software development costs | 160348 | 146287 |
| Construction in progress | 21845 | 12539 |
| &nbsp;&nbsp;&nbsp;Property and equipment, gross | 308298 | 281085 |
| Accumulated depreciation and amortization | (188686) | (168393) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total property and equipment, net | $119612 | $112692 |

---

Depreciation and amortization expense of property and equipment was $9.0 million and $8.6 million for the three months ended September 30, 2025 and 2024, respectively, and $26.2 million and $25.9 million for the nine months ended September 30, 2025 and 2024, respectively, of which amortization expense related to purchased software and internal-use software development costs was $5.9 million and $5.0 million for the three months ended September 30, 2025 and 2024, respectively, and $16.9 million and $14.2 million for the nine months ended September 30, 2025 and 2024, respectively.

The geographic location of the Company's property and equipment, net, is based on the physical location in which it is located. The following table summarizes the geographic information for property and equipment, net:

---

| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| | **(In thousands)** | **(In thousands)** |
| United States | $115528 | $109534 |
| Rest of world | 4084 | 3158 |
| &nbsp;&nbsp;&nbsp;Total property and equipment, net | $119612 | $112692 |

---

**Note 8. External-Use Software Development Costs**

The carrying amounts of external-use software development costs were as follows:

---

| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| | **(In thousands)** | **(In thousands)** |
| Gross carrying amount | $263056 | $249335 |
| Accumulated amortization | (207336) | (190899) |
| &nbsp;&nbsp;&nbsp;&nbsp;External-use software development costs, net <sup>(1)</sup> | $55720 | $58436 |

---

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<sup>(1)&nbsp;&nbsp;&nbsp;&nbsp;</sup> Included in other long-term assets in the Condensed Consolidated Balance Sheets.

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The Company recorded $5.1 million and $6.0 million to cost of product revenues for amortization of external-use software development costs for the three months ended September 30, 2025 and 2024, respectively, and $16.4 million and $19.1 million for the nine months ended September 30, 2025 and 2024, respectively.

The estimated future amortization expenses for external-use software development costs were as follows:

---

| | |
|:---|:---|
| | **September 30,<br>2025** |
| | **(In thousands)** |
| Remaining three months of 2025 | $5359 |
| 2026 | 18486 |
| 2027 | 13025 |
| 2028 | 9168 |
| 2029 | 6541 |
| Thereafter | 3141 |
| &nbsp;&nbsp;&nbsp;Total | $55720 |

---

**Note 9. Goodwill and Intangible Assets**

**Goodwill**

The following table represents changes in the carrying amount of goodwill:

---

| | |
|:---|:---|
| | **(In thousands)** |
| Balance as of December 31, 2024 | $734727 |
| &nbsp;&nbsp;Foreign currency exchange rate fluctuations | 3145 |
| Balance as of September 30, 2025 | $737872 |

---

**Intangible Assets, Net**

The carrying amounts and useful lives of intangible assets were as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| | **Gross carrying**<br>**amount** <sup>(1)</sup> | **Accumulated<br>amortization** | **Foreign currency exchange <br>rate fluctuations** | **Net carrying<br>amount** | **Useful life<br>(years)** |
| | **(In thousands, except for years)** | **(In thousands, except for years)** | **(In thousands, except for years)** | **(In thousands, except for years)** | **(In thousands, except for years)** |
| Customer relationships | $306419 | $(144928) | $(1316) | $160175 | 10 - 30 |
| Acquired technology | 45379 | (34649) |  | 10730 | 4 - 20 |
| Trade names | 2400 | (1940) |  | 460 | 5 |
| Patents | 1681 | (1002) |  | 679 | 2 - 20 |
| &nbsp;&nbsp;Total intangible assets, net | $355879 | $(182519) | $(1316) | $172044 |  |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | **Gross carrying**<br>**amount** <sup>(1)</sup> | **Accumulated<br>amortization** | **Foreign currency exchange <br>rate fluctuations** | **Net carrying<br>amount** | **Useful life<br>(years)** |
| | **(In thousands, except for years)** | **(In thousands, except for years)** | **(In thousands, except for years)** | **(In thousands, except for years)** | **(In thousands, except for years)** |
| Customer relationships | $307418 | $(133111) | $(1373) | $172934 | 4 - 30 |
| Acquired technology | 46134 | (32421) |  | 13713 | 4 - 20 |
| Trade names | 2400 | (1580) |  | 820 | 5 |
| Patents | 2291 | (1492) |  | 799 | 2 - 20 |
| &nbsp;&nbsp;Total intangible assets, net | $358243 | $(168604) | $(1373) | $188266 |  |

---

_________________________________________________

<sup>(1)</sup> &nbsp;&nbsp;&nbsp;&nbsp;The differences in gross carrying amounts between periods are primarily due to the write-off of certain fully amortized intangible assets.

Amortization expense of intangible assets was $5.3 million and $5.6 million for the three months ended September 30, 2025 and 2024, respectively, and $16.4 million and $17.3 million for the nine months ended September 30, 2025 and 2024, respectively.

The estimated future amortization expenses for amortizable intangible assets were as follows:

---

| | |
|:---|:---|
| | **September 30,<br>2025** |
| | **(In thousands)** |
| Remaining three months of 2025 | $4865 |
| 2026 | 18037 |
| 2027 | 16216 |
| 2028 | 15145 |
| 2029 | 13647 |
| Thereafter | 104134 |
| &nbsp;&nbsp;&nbsp;Total | $172044 |

---

**Note 10. Debt and Credit Agreement**

On November 15, 2019, Omnicell, Inc. entered into an Amended and Restated Credit Agreement (as amended, the "Prior A&R Credit Agreement") with the lenders from time to time party thereto, Wells Fargo Securities, LLC, Citizens Bank, N.A., and JPMorgan Chase Bank, N.A., as joint lead arrangers, and Wells Fargo Bank, National Association, as administrative agent. As referred to in this Note 10, "Omnicell, Inc." refers only to Omnicell, Inc., excluding its subsidiaries. The Prior A&R Credit Agreement provided for (a) a five-year revolving credit facility of $500.0 million (the "Prior Revolving Credit Facility") and (b) an uncommitted incremental loan facility of up to $250.0 million (the "Prior Incremental Facility"). In addition, the Prior A&R Credit Agreement included a letter of credit sub-limit of up to $15.0 million and a swing line loan sub-limit of up to $25.0 million. The Prior A&R Credit Agreement was subsequently amended on September 22, 2020 and March 29, 2023, to permit the issuance of the convertible senior notes and the purchase of the convertible note hedge transactions (as described in Note 11, *Convertible Senior Notes*), expand the Company's flexibility to make restricted payments (including common stock repurchases), and replace the total net leverage covenant, as well as to remove and replace the interest rate benchmark based on the London interbank offered rate ("LIBOR") and related LIBOR-based mechanics with an interest rate benchmark based on the secured overnight financing rate ("SOFR") as administered by the Federal Reserve Bank of New York and related SOFR-based mechanics.

Omnicell, Inc. entered into a Second Amended and Restated Credit Agreement (the "Second A&R Credit Agreement") on October 10, 2023, with the lenders from time to time party thereto, Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., PNC Capital Markets LLC and TD Securities (USA) LLC as joint lead arrangers and Wells Fargo Bank, National Association, as administrative agent. The Second A&R Credit Agreement supersedes the Prior A&R Credit Agreement and provides for (a) a five-year revolving credit facility of $350.0 million (the "Current Revolving Credit Facility") and (b) an uncommitted incremental loan facility of up to an amount equal to the sum of (i) the greater of $250.0 million and 100% of the adjusted consolidated EBITDA for the last four quarters and (ii) additional amounts subject to pro forma compliance with certain consolidated secured net leverage ratio (the "Current Incremental Facility"). In addition, the Second A&R Credit

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Agreement includes a letter of credit sub-limit of up to $15.0 million and a swing line loan sub-limit of up to $25.0 million. The Second A&R Credit Agreement has an expiration date of October 10, 2028, subject to acceleration under certain conditions, upon which date all remaining outstanding borrowings will be due and payable.

Loans under the Current Revolving Credit Facility bear interest, at Omnicell, Inc.'s option, at a rate equal to either (a) the Adjusted Term SOFR (as defined in the Second A&R Credit Agreement), plus an applicable margin ranging from 1.50% to 2.25% per annum based on the Company's Consolidated Total Net Leverage Ratio (as defined in the Second A&R Credit Agreement), or (b) an alternate base rate equal to the highest of (i) the prime rate, (ii) the federal funds rate plus 0.50%, and (iii) the Adjusted Term SOFR for an interest period of one month plus 1.00%, plus an applicable margin ranging from 0.50% to 1.25% per annum based on the Company's Consolidated Total Net Leverage Ratio. Undrawn commitments under the Current Revolving Credit Facility are subject to a commitment fee ranging from 0.20% to 0.35% per annum based on the Company's Consolidated Total Net Leverage Ratio on the average daily unused portion of the Current Revolving Credit Facility. Subject to the terms and conditions of the Current Revolving Credit Facility or Current Incremental Facility Omnicell, Inc. is permitted to make voluntary prepayments at any time without payment of a premium or penalty. The availability of funds under the Current Revolving Credit Facility may be subject to reduction in order to maintain compliance with the financial covenants under the Second A&R Credit Agreement.

The Second A&R Credit Agreement contains customary representations and warranties and customary affirmative and negative covenants applicable to the Company, including, among other things, restrictions on indebtedness, liens, investments, mergers, dispositions, dividends, and other distributions. The Second A&R Credit Agreement contains financial covenants that require the Company to not exceed a maximum consolidated secured net leverage ratio (not to exceed 3.00:1) and maintain a minimum consolidated interest coverage ratio (not to be less than 3.00:1). In addition, the Second A&R Credit Agreement contains certain customary events of default including, but not limited to, failure to pay interest, principal, and fees, or other amounts when due, material misrepresentations or misstatements in any representation or warranty, covenant defaults, certain cross defaults to other material indebtedness, certain judgment defaults, and events of bankruptcy.

Omnicell, Inc.'s obligations under the Second A&R Credit Agreement and, at the election of Omnicell, Inc. and the contracting counterparty, any secured swap obligations and banking services obligations owing to a lender (or an affiliate of a lender) are guaranteed by certain of its domestic subsidiaries and secured by substantially all of its and such subsidiary guarantors' assets. In connection with entering into the Second A&R Credit Agreement, and as a condition precedent to borrowing loans thereunder, Omnicell, Inc. and certain of Omnicell, Inc.'s other direct and indirect subsidiaries have entered into certain ancillary agreements, including, but not limited to, a reaffirmation agreement, which amends certain terms of the existing collateral agreement and reaffirms their obligations under the existing guaranty agreement.

As of both September 30, 2025 and December 31, 2024, the Company had $350.0 million of funds available under the Current Revolving Credit Facility. As of September 30, 2025 and December 31, 2024, the Company had no outstanding balance under the Current Revolving Credit Facility. The Company was in compliance with all covenants as of September 30, 2025.

**Note 11. Convertible Senior Notes**

**0.25% Convertible Senior Notes due 2025**

On September 25, 2020, Omnicell, Inc. completed a private offering of $575.0 million aggregate principal amount of 0.25% convertible senior notes (the "2025 Notes"), including the exercise in full of the initial purchasers' option to purchase up to an additional $75.0 million principal amount of the 2025 Notes. As referred to in this Note 11, "Omnicell, Inc." or the "Company" refers only to Omnicell, Inc., excluding its subsidiaries. Omnicell, Inc. received proceeds from the issuance of the 2025 Notes of $559.7 million, net of $15.3 million of transaction fees and other debt issuance costs. The 2025 Notes were issued pursuant to an indenture, dated September 25, 2020 (the "2025 Notes Indenture"), between the Company and U.S. Bank National Association, as trustee. Prior to maturity, the 2025 Notes were general senior, unsecured obligations of the Company and bore interest at a rate of 0.25% per year, payable semiannually in arrears on March 15 and September 15 of each year, beginning on March 15, 2021.

In November 2024, the Company entered into separate, privately negotiated transactions with certain holders of the 2025 Notes to repurchase $400.0 million of aggregate principal amount of the 2025 Notes for approximately $391.0 million of cash. The Company accounted for the partial repurchase of 2025 Notes as a debt extinguishment and recorded a $7.2 million gain on extinguishment, which included a partial write-off of previously deferred debt issuance costs of $1.8 million during the three months ended December 31, 2024.

The 2025 Notes matured on September 15, 2025 and the Company repaid the remaining principal balance of $175.0 million and $0.2 million of accrued interest in cash.

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**1.00% Convertible Senior Notes due 2029** 

On November 22, 2024, Omnicell, Inc. completed a private offering of $172.5 million aggregate principal amount of 1.00% Convertible Senior Notes due 2029 (the "2029 Notes"), including the exercise in full of the initial purchasers' option to purchase up to an additional $22.5 million aggregate principal amount of the 2029 Notes. Omnicell, Inc. received proceeds from the issuance of the 2029 Notes of $166.3 million, net of $6.2 million of transaction fees and other debt issuance costs. The 2029 Notes bear interest at a rate of 1.00% per year, payable semiannually in arrears on June 1 and December 1 of each year, beginning on June 1, 2025. The 2029 Notes were issued pursuant to an indenture, dated November 22, 2024 (the "2029 Notes Indenture"), between the Company and U.S. Bank Trust Company, National Association, as trustee. The 2029 Notes are general senior, unsecured obligations of the Company and will mature on December 1, 2029, unless earlier redeemed, purchased, or converted.

The 2029 Notes are convertible at any time prior to the close of business on the business day immediately preceding August 1, 2029, only under the following circumstances: (i) during any fiscal quarter commencing after the fiscal quarter ending on March 31, 2025 (and only during such fiscal quarter), if the last reported sale price of the Company's common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price for the 2029 Notes on each applicable trading day; (ii) during the five business day period after any ten consecutive trading day period (the "measurement period") in which the "trading price" (as defined in the 2029 Notes Indenture) per $1,000 principal amount of the 2029 Notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company's common stock and the conversion rate for the 2029 Notes on each such trading day; (iii) if the Company calls such 2029 Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date, but only with respect to the 2029 Notes called (or deemed called) for redemption; or (iv) upon the occurrence of specified corporate events as set forth in the 2029 Notes Indenture. On or after August 1, 2029 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the 2029 Notes may convert all or any portion of their 2029 Notes at any time, regardless of the foregoing conditions.

During the three months ended September 30, 2025 and December 31, 2024, none of the conditional conversion features of the 2029 Notes were triggered, and therefore, the 2029 Notes are not convertible during the fourth quarter of 2025, commencing on October 1, 2025, and were not convertible during the first quarter of 2025, commencing on January 1, 2025.

Upon conversion, the Company will pay cash up to the aggregate principal amount of the 2029 Notes to be converted and pay or deliver, as the case may be, cash, shares of the Company's common stock or a combination of cash and shares of the Company's common stock, at the Company's election, in respect to the remainder, if any, of the Company's conversion obligation in excess of the aggregate principal amount of the 2029 Notes being converted, in the manner and subject to the terms and conditions provided in the 2029 Notes Indenture.

The initial conversion rate for the 2029 Notes is 17.4662 shares of the Company's common stock per $1,000 principal amount of the 2029 Notes, which is equivalent to an initial conversion price of approximately $57.25 per share of the Company's common stock, subject to adjustment under certain circumstances in accordance with the terms of the 2029 Notes Indenture. In addition, following certain corporate events that occur prior to the maturity date of the 2029 Notes or if the Company delivers a notice of redemption in respect of the 2029 Notes, the Company will, under certain circumstances, increase the conversion rate of the 2029 Notes for a holder who elects to convert its 2029 Notes (or any portion thereof) in connection with such a corporate event or convert its 2029 Notes called (or deemed called) for redemption during the related redemption period (as defined in the 2029 Notes Indenture), as the case may be.

If the Company undergoes a fundamental change (as defined in the 2029 Notes Indenture), holders may require, subject to certain exceptions, the Company to repurchase for cash all or any portion of their 2029 Notes at a fundamental change repurchase price equal to 100% of the principal amount of the 2029 Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. As of September 30, 2025, none of the criteria for a fundamental change or a conversion rate adjustment had been met.

The Company may not redeem the 2029 Notes prior to December 6, 2027. The Company may redeem for cash all or any portion of the 2029 Notes, at its option, on or after December 6, 2027, if the last reported sale price of the Company's common stock has been at least 130% of the conversion price for the 2029 Notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the 2029 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. The Company may not redeem less than all of the outstanding 2029 Notes unless at least $100.0 million aggregate principal amount of 2029 Notes are outstanding and not called for redemption as of the time the Company sends the related notice of redemption. No sinking fund is provided for in the 2029 Notes.

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The debt issuance costs associated with the 2029 Notes are being amortized to interest expense over the term of the 2029 Notes using an effective interest rate of 1.75%. As of September 30, 2025, the remaining life of the 2029 Notes and the related issuance cost accretion is approximately 4.2 years.

The maximum number of shares issuable upon conversion, including the effect of a fundamental change and subject to other conversion rate adjustments, would be approximately 3.0 million shares. As of September 30, 2025, the if-converted value of the 2029 Notes did not exceed the principal amount.

The 2025 Notes and the 2029 Notes consisted of the following balances:

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| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| | **(In thousands)** | **(In thousands)** |
| 2025 Notes: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Principal amount | $— | $175000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unamortized debt issuance costs |  | (676) |
| Convertible senior notes, net, current | $— | $174324 |
| 2029 Notes: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Principal amount | $172500 | $172500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unamortized debt issuance costs | (5206) | (6103) |
| Convertible senior notes, net, noncurrent | $167294 | $166397 |

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The following table summarizes the components of interest expense resulting from the 2025 Notes and the 2029 Notes recognized in interest and other income (expense), net in the Condensed Consolidated Statements of Operations:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** |
| Contractual coupon interest: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 Notes | $91 | $359 | $310 | $1078 |
| &nbsp;&nbsp;&nbsp;&nbsp;2029 Notes | $431 | $— | 1294 |  |
| Amortization of debt issuance costs: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2025 Notes | $199 | $780 | $676 | $2335 |
| &nbsp;&nbsp;&nbsp;&nbsp;2029 Notes | $300 | $— | 897 |  |

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**Convertible Note Hedge and Warrant Transactions**

In connection with the issuance of the 2025 Notes in September 2020 and the 2029 Notes in November 2024, the Company entered into convertible note hedges and warrants transactions, respectively, with certain initial purchasers of the 2025 Notes and the 2029 Notes or affiliates thereof and certain other financial institutions (the "option counterparties").

The convertible note hedges related to the 2025 Notes consisted of call options for the Company to purchase, subject to anti-dilution adjustments substantially similar to those applicable to the 2025 Notes, up to approximately 5.9 million shares of the Company's common stock, which is equal to the number of shares of the Company's common stock underlying the 2025 Notes at the time of its issuance, at an initial strike price of approximately $97.32 per share. The convertible note hedges related to the 2029 Notes consisted of call options for the Company to purchase up to, subject to anti-dilution adjustments substantially similar to those applicable to the 2029 Notes, approximately 3.0 million shares of the Company's common stock, which is equal to the number of shares of the Company's common stock underlying the 2029 Notes at the time of its issuance, at an initial strike price of approximately $57.25 per share. The convertible note hedges expire upon the maturity of the respective convertible notes, if not earlier exercised or terminated. The cost of the convertible note hedges related to the 2025 Notes and the 2029 Notes was approximately $100.6 million and $40.3 million, respectively, and each was accounted for as an equity instrument, each of which was recorded in additional paid-in capital in the Condensed Consolidated Balance Sheets. In addition, the Company recorded a deferred tax asset of $25.8 million and $10.2 million, respectively, at issuance related to the convertible note hedges for the 2025 Notes and the 2029 Notes. The 2029 Notes convertible note hedges are expected generally

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to reduce the potential dilution to the Company's common stock upon any conversion of the 2029 Notes and/or offset any cash payments the Company may be required to make in excess of the principal amount of the converted 2029 Notes.

Separately from the convertible note hedges, in September 2020 and November 2024, the Company entered into warrant transactions to sell to the respective option counterparties warrants to acquire, subject to customary anti-dilution adjustments, up to approximately 5.9 million shares of its common stock at an initial strike price of approximately $141.56 and approximately 3.0 million shares of its common stock at an initial strike price of approximately $84.82 per share related to the 2025 Notes and the 2029 Notes, respectively. The warrants require net share or net cash settlement upon the Company's election. The Company received aggregate proceeds of approximately $51.3 million and $25.2 million for the issuance of the warrants related to the 2025 Notes and the 2029 Notes, respectively, which was recorded in additional paid-in capital at issuance in the Condensed Consolidated Balance Sheets. The warrants could separately have a dilutive effect to the Company's common stock to the extent that the market price per share of its common stock, as measured under the warrants, exceeds the strike price of the warrants.

In November 2024, in connection with the partial repurchase of the 2025 Notes, the Company entered into unwind agreements with the existing option counterparties to the convertible note hedges and warrants related to the 2025 Notes to terminate a portion of the existing convertible note hedges and warrants related to the 2025 Notes at a notional amount corresponding to the amount of the 2025 Notes repurchased, resulting in an immaterial gain.

On September 15, 2025, the convertible note hedges related to the remaining 2025 Notes expired concurrently with the maturity of the 2025 Notes. No settlement was required as the Company's stock price remained below the strike price at that time. In addition, following maturity of the 2025 Notes, the warrants issued in connection with the 2025 Notes will terminate between December 15, 2025 and June 8, 2026.

**Note 12. Lessor Leases**

**Sales-Type Leases**

The Company enters into non-cancelable sales-type lease arrangements with the leases varying in length from one to ten years. The Company optimizes cash flows by selling a majority of its sales-type leases, other than those relating to U.S. government hospitals and SaaS and Expert Services products, including Central Pharmacy Dispensing Service and IV Compounding Service, to third-party leasing finance companies on a non-recourse basis. The Company generally has no obligation to the leasing company once the lease has been sold.

The following table presents the Company's income recognized from sales-type leases:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** |
| Sales-type lease revenues | $4562 | $6952 | $17011 | $25564 |
| Cost of sales-type lease revenues | (2892) | (3912) | (9931) | (15209) |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling profit on sales-type lease revenues | $1670 | $3040 | $7080 | $10355 |

---

The receivables as a result of these types of transactions are collateralized by the underlying equipment leased and consist of the following components:

---

| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| | **(In thousands)** | **(In thousands)** |
| Net minimum lease payments to be received | $80118 | $77976 |
| Less: Unearned interest income portion | (12406) | (12757) |
| &nbsp;&nbsp;&nbsp;Net investment in sales-type leases | 67712 | 65219 |
| Less: Current portion <sup>(1)</sup> | (13394) | (12475) |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term investment in sales-type leases, net | $54318 | $52744 |

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_________________________________________________

<sup>(1)&nbsp;&nbsp;&nbsp;&nbsp;</sup>The current portion of the net investment in sales-type leases is included in other current assets in the Condensed Consolidated Balance Sheets.

The carrying amount of the Company's sales-type lease receivables is a reasonable estimate of fair value.

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The maturity schedule of future minimum lease payments under sales-type leases retained in-house and the reconciliation to the net investment in sales-type leases reported on the Condensed Consolidated Balance Sheets was as follows:

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| | |
|:---|:---|
| | **September 30,<br>2025** |
| | **(In thousands)** |
| Remaining three months of 2025 | $4226 |
| 2026 | 16222 |
| 2027 | 15204 |
| 2028 | 14093 |
| 2029 | 11454 |
| Thereafter | 18919 |
| &nbsp;&nbsp;&nbsp;Total future minimum sales-type lease payments | 80118 |
| Present value adjustment | (12406) |
| &nbsp;&nbsp;&nbsp;Total net investment in sales-type leases | $67712 |

---

**Note 13. Lessee Leases** 

The Company has operating leases for office buildings, data centers, office equipment, and vehicles. The Company's leases have initial terms of one to twelve years. As of September 30, 2025, the Company did not have any additional material operating leases that were entered into, but not yet commenced.

The maturity schedule of future minimum lease payments under operating leases and the reconciliation to the operating lease liabilities reported on the Condensed Consolidated Balance Sheets was as follows:

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| | |
|:---|:---|
| | **September 30,<br>2025** |
| | **(In thousands)** |
| Remaining three months of 2025 | $3476 |
| 2026 | 13554 |
| 2027 | 11592 |
| 2028 | 9906 |
| 2029 | 3135 |
| Thereafter | 1893 |
| &nbsp;&nbsp;&nbsp;Total operating lease payments | 43556 |
| Present value adjustment | (4066) |
| &nbsp;&nbsp;Total operating lease liabilities <sup>(1)</sup> | $39490 |

---

_________________________________________________

<sup>(1)&nbsp;&nbsp;&nbsp;&nbsp;</sup>Amount consists of a current and long-term portion of operating lease liabilities of $11.9 million and $27.6 million, respectively. The current portion of the operating lease liabilities is included in accrued liabilities in the Condensed Consolidated Balance Sheets.

Operating lease costs were $2.5 million for both the three months ended September 30, 2025 and 2024, and $7.6 million and $7.7 million for the nine months ended September 30, 2025 and 2024, respectively. Short-term lease costs and variable lease costs were not material for the three and nine months ended September 30, 2025 and 2024.

The following table summarizes supplemental cash flow information related to the Company's operating leases:

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| | | |
|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** |
| | **(In thousands)** | **(In thousands)** |
| Cash paid for amounts included in the measurement of lease liabilities | $10490 | $9891 |
| Right-of-use assets obtained in exchange for new lease liabilities | $6069 | $5831 |

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The following table summarizes the weighted-average remaining lease term and weighted-average discount rate related to the Company's operating leases:

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| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| Weighted-average remaining lease term, years | 3.6 | 4.1 |
| Weighted-average discount rate, % | 5.5% | 5.8% |

---

**Note 14. Commitments and Contingencies**

**Purchase Obligations**

In the ordinary course of business, the Company issues purchase orders based on its current manufacturing needs. As of September 30, 2025, the Company had non-cancelable purchase commitments of $135.0 million, of which $82.1 million are expected to be paid within the year ending December 31, 2025.

**Legal Proceedings**

The Company is currently involved in various legal proceedings.

As required under ASC 450, Contingencies, the Company accrues for contingencies when it believes that a loss is probable and that it can reasonably estimate the amount of any such loss. The Company has not recorded any material accrual for contingent liabilities associated with any current legal proceedings based on its belief that any potential material loss, while reasonably possible, is not probable. Furthermore, any possible range of loss in these matters either cannot be reasonably estimated at this time or is not deemed material. The Company believes that it has valid defenses with respect to legal proceedings pending against it. However, litigation is inherently unpredictable, and it is possible that cash flows or results of operations could be materially affected in any particular period by the unfavorable resolution of legal proceedings or because of the diversion of management's attention and the creation of significant expenses, regardless of outcome.

The Company is not a party to any legal proceedings that management believes may have a material impact on the Company's financial position or results of operations.

**Note 15. Income Taxes** 

The Company generally provides for income taxes in interim periods based on the estimated annual effective tax rate for the year, adjusting for discrete items in the quarter in which they arise. For the nine months ended September 30, 2025 and 2024, the Company recorded a provision for income taxes of $6.5 million and $5.3 million, respectively, by applying its estimated annual effective tax rate to its year-to-date measure of ordinary income and adjusted for $3.2 million and $4.9 million, respectively, of discrete income tax expense primarily from equity compensation.

The effective tax rate for the nine months ended September 30, 2025 differed from the statutory rate of 21% primarily due to the unfavorable impact of state taxes, non-deductible compensation and equity charges, partially offset by the favorable impact of the research and development credits and a foreign-derived intangible income ("FDII") deduction. The effective tax rate for the nine months ended September 30, 2024 differed from the statutory rate of 21% primarily due to the benefit of the research and development credits and a FDII benefit deduction, partially offset by the unfavorable impact of the non-deductible compensation and equity charges.

On July 4, 2025, the One Big Beautiful Bill Act (the "OBBBA") was enacted in the United States, which includes significant tax reform provisions. Included in the OBBBA are provisions that allow for the immediate expensing of domestic United States research and development expenses, immediate expensing of certain capital expenditures, and other changes to the U.S. taxation of profits derived from foreign operations. The OBBBA did not have a significant impact on our results of operations, financial position, and cash flows for the nine months ended September 30, 2025. The Company is continuing to evaluate the potential future impacts of the OBBBA.

The Organization for Economic Co-Operation and Development introduced Base Erosion and Profit Shifting Pillar Two rules that impose a global minimum tax rate of 15% on multi-national corporations. These rules did not have an impact on the Company's provision for income taxes for the nine months ended September 30, 2025.

As of September 30, 2025 and December 31, 2024, the Company had gross unrecognized tax benefits of $11.2 million and $10.5 million, respectively. The Company recognizes interest and penalties related to uncertain tax positions in interest and other income (expense), net in the Condensed Consolidated Statements of Operations. Accrued interest and penalties are included within other long-term liabilities on the Condensed Consolidated Balance Sheets. As of September 30, 2025 and December 31, 2024, the amount of accrued interest and penalties was $1.0 million and $0.6 million, respectively.

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The Company files income tax returns in the United States and various state and foreign jurisdictions. In the normal course of business, the Company is subject to examinations by taxing authorities, including major jurisdictions such as the United States, Germany, Italy, France, the United Kingdom, and India. With few exceptions, as of September 30, 2025, the Company was no longer subject to U.S., state, and foreign tax examinations for years before 2021, 2020, and 2020, respectively.

**Note 16. Employee Benefits and Share-Based Compensation**

**Share-Based Compensation Expense**

The following table sets forth the total share-based compensation expense recognized in the Company's Condensed Consolidated Statements of Operations:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** |
| Cost of product and service revenues | $996 | $1709 | $3921 | $4884 |
| Research and development | 722 | 1062 | 2964 | 3276 |
| Selling, general, and administrative | 9492 | 8834 | 25641 | 22117 |
| &nbsp;&nbsp;&nbsp;Total share-based compensation expense | $11210 | $11605 | $32526 | $30277 |

---

The Company capitalized approximately $0.5 million and $1.0 million during the three months ended September 30, 2025 and 2024, respectively, and $1.9 million and $2.7 million during the nine months ended September 30, 2025 and 2024, respectively, of share-based compensation expense to internal-use and external-use software development costs related to internal labor. The Company did not capitalize any material share-based compensation expense to inventory during the three and nine months ended September 30, 2025 and 2024.

**Employee Stock Purchase Plan ("ESPP")**

The following assumptions were used to value shares under the ESPP:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Expected life, years | 0.5 - 2.0 | 0.5 - 2.0 | 0.5 - 2.0 | 0.5 - 2.0 |
| Expected volatility, % | 45.8% - 58.7% | 33.7% - 58.7% | 45.8% - 58.7% | 33.7% - 58.7% |
| Risk-free interest rate, % | 3.9% - 5.0% | 3.2% - 5.3% | 3.9% - 5.2% | 1.5% - 5.5% |
| Dividend yield, % | —% | —% | —% | —% |

---

For the nine months ended September 30, 2025 and 2024, employees purchased approximately 612,000 and 524,000 shares of common stock, respectively, under the ESPP at a weighted-average price of $24.55 and $24.14, respectively.

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**Stock Options**

The following table summarizes the stock option activity under the 2009 Plan:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Number of<br>Shares** | **Weighted-Average<br>Exercise Price** | **Weighted-Average<br>Remaining Years** | **Aggregate<br>Intrinsic Value** |
| | **(In thousands, except per share data)** | **(In thousands, except per share data)** | **(In thousands, except per share data)** | **(In thousands, except per share data)** |
| Outstanding at December 31, 2024 | 1760 | $67.51 | 3.6 | $2619 |
| &nbsp;&nbsp;&nbsp;Granted |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Exercised | (4) | 29.11 |  |  |
| &nbsp;&nbsp;&nbsp;Expired | (236) | 73.21 |  |  |
| &nbsp;&nbsp;&nbsp;Forfeited |  |  |  |  |
| Outstanding at September 30, 2025 | 1520 | $66.82 | 3.2 | $136 |
| Exercisable at September 30, 2025 | 1520 | $66.79 | 3.2 | $136 |
| Vested and expected to vest at September 30, 2025 and thereafter | 1520 | $66.82 | 3.2 | $136 |

---

**Restricted Stock Units ("RSUs")**

The following table summarizes the RSU activity under the 2009 Plan:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Number of<br>Shares** | **Weighted-Average<br>Grant Date Fair Value** | **Weighted-Average<br>Remaining Years** | **Aggregate<br>Intrinsic Value** |
| | **(In thousands, except per share data)** | **(In thousands, except per share data)** | **(In thousands, except per share data)** | **(In thousands, except per share data)** |
| Outstanding at December 31, 2024 | 1614 | $54.58 | 1.6 | $71849 |
| &nbsp;&nbsp;&nbsp;Granted | 958 | 31.96 |  |  |
| &nbsp;&nbsp;&nbsp;Vested | (413) | 62.63 |  |  |
| &nbsp;&nbsp;&nbsp;Forfeited | (323) | 52.84 |  |  |
| Outstanding and unvested at September 30, 2025 | 1836 | $41.28 | 1.6 | $55903 |

---

As of September 30, 2025, total unrecognized compensation cost related to RSUs was $54.7 million, which is expected to be recognized over the remaining weighted-average vesting period of 2.8 years.

**Performance-Based Stock Unit Awards ("PSUs")**

The following table summarizes the PSU activity under the 2009 Plan:

---

| | | |
|:---|:---|:---|
| | **Number of<br>Shares** | **Weighted-Average<br>Grant Date Fair Value** |
| | **(In thousands, except per share data)** | **(In thousands, except per share data)** |
| Outstanding at December 31, 2024 | 177 | $28.67 |
| &nbsp;&nbsp;&nbsp;Granted (Awarded) | 139 | 32.66 |
| &nbsp;&nbsp;&nbsp;Additional granted based on performance achievement | 135 | 28.67 |
| &nbsp;&nbsp;&nbsp;Vested (Released) | (117) | 28.67 |
| &nbsp;&nbsp;&nbsp;Forfeited |  |  |
| Outstanding and unvested at September 30, 2025 | 334 | $30.33 |

---

As of September 30, 2025, total unrecognized compensation cost related to PSUs was approximately $3.7 million, which is expected to be recognized over the remaining weighted-average vesting period of 2.2 years.

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**Summary of Shares Reserved for Future Issuance under Equity Incentive Plans** 

The Company had the following ordinary shares reserved for future issuance under its equity incentive plans as of September 30, 2025:

---

| | |
|:---|:---|
| | **Number of Shares** |
| | **(In thousands)** |
| Stock options outstanding | 1520 |
| Non-vested restricted stock awards | 2224 |
| Shares authorized for future issuance | 3607 |
| ESPP shares available for future issuance | 2114 |
| &nbsp;&nbsp;&nbsp;Total shares reserved for future issuance | 9465 |

---

**Stock Repurchase Programs**

On May 22, 2025, the Company's Board of Directors (the "Board") authorized a new stock repurchase program, which does not expire, providing for the repurchase of up to $75.0 million of the Company's common stock (the "2025 Repurchase Program"). The 2025 Repurchase Program is in addition to the stock repurchase program approved by the Board on August 2, 2016 providing for the repurchase of up to $50.0 million of the Company's common stock (the "2016 Repurchase Program").

As of December 31, 2024, the maximum dollar value of shares that may yet be purchased under the 2016 Repurchase Program was $2.7 million and during the second quarter of 2025, the 2016 Repurchase Program was completed. As of September 30, 2025, the 2025 Repurchase Program was substantially completed.

The timing, price, and volume of repurchases are to be based on a variety of factors, including market conditions, relevant securities laws and regulatory requirements, and other corporate considerations, as determined by the Company's management. Stock repurchases may be made from time to time on the open market, through block trades, in privately negotiated transactions, accelerated or other structured stock repurchase programs, or pursuant to a Rule 10b5-1 plan. The 2025 Repurchase Program does not obligate the Company to repurchase any specific number of shares, and the Company may terminate or suspend the 2025 Repurchase Program at any time.

During the three months ended September 30, 2025, the Company repurchased approximately 1,987,000 shares of its common stock under the 2025 Repurchase Program at an average price of $31.15 per share for an aggregate purchase price of approximately $61.9 million. During the nine months ended September 30, 2025, the Company repurchased approximately 2,523,000 shares of its common stock under the repurchase programs at an average price of $30.74 per share for an aggregate purchase price of approximately $77.6 million. During the three and nine months ended September 30, 2024, the Company did not repurchase any of its outstanding common stock under the 2016 Repurchase Program.

**Note 17. Restructuring Expenses**

On April 26, 2024, the Company's management committed to the wind down of the Company's Medimat Robotic Dispensing System ("RDS") product line, subject to local law and statutory works council consultation requirements. During the three and nine months ended September 30, 2024, the Company incurred approximately $0.6 million and $4.1 million, respectively, of employee severance costs and other expenses related to the RDS product line wind down, net of immaterial reversals of previously recognized restructuring expenses. In addition, during the nine months ended September 30, 2024, the Company incurred $5.4 million of inventory write-down charges related to the RDS product line wind down that were recorded to cost of revenues in the Company's Condensed Consolidated Statements of Operations. During the three and nine months ended September 30, 2025, the Company did not incur any material restructuring expenses.

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The following table summarizes the total employee-related restructuring expense recognized in the Company's Condensed Consolidated Statements of Operations:

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| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2024** | **2024** |
| | **(In thousands)** | **(In thousands)** |
| Cost of product and service revenues | $642 | $3338 |
| Research and development | (15) | 296 |
| Selling, general, and administrative | (7) | 149 |
| &nbsp;&nbsp;&nbsp;Total restructuring expense | $620 | $3783 |

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**ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS**

**FORWARD-LOOKING STATEMENTS AND FACTORS THAT MAY AFFECT FUTURE RESULTS**

*This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The forward-looking statements are contained throughout this Quarterly Report on Form 10-Q including in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations." In some cases, you can identify forward-looking statements by terms such as "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goals," "intends," "may," "plans," "potential," "predicts," "projects," "seeks," "should," "target," "will," "would," "vision," and variations of these terms and similar expressions.* 

*Forward-looking statements are based on our current expectations and assumptions, and are subject to known and unknown risks and uncertainties, many of which are beyond our control, which may cause our actual results, performance, or achievements to be materially different from those expressed or implied in the forward-looking statements. Such risks and uncertainties include those described throughout this Quarterly Report on Form 10-Q, including in Part I - Item 2 "Management's Discussion and Analysis of Financial Condition and Results of Operations" and Part II - Item 1A. "Risk Factors," as well as in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission ("SEC") on February 27, 2025. Given these risks and uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements should be considered in light of these risks and uncertainties. You should carefully read this Quarterly Report on Form 10-Q and the documents that we reference in this Quarterly Report on Form 10-Q and have filed as exhibits, as well as other documents we file with, or furnish to, the U.S. Securities and Exchange Commission ("SEC") from time to time, with the understanding that our actual future results may be materially different from what we expect. The forward-looking statements in this Quarterly Report on Form 10-Q represent our current estimates and assumptions and speak only as of the date of this Quarterly Report on Form 10-Q. Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those expressed or implied in any forward-looking statements, whether as a result of changed circumstances, future events, even if new information becomes available in the future, or otherwise.*

*The following risks related to our business, among others, could cause actual results to differ materially from those described in the forward-looking statements:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• unfavorable general economic and market conditions;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• our ability to take advantage of growth opportunities and develop and commercialize new solutions and enhance existing solutions, including incorporating artificial intelligence ("AI") technology and the use of AI by our vendors and competitors;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• reductions in demand in the capital equipment market or reductions in the demand for or adoption of our solutions, systems, or services;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• delays in installations of our medication management solutions or our more complex medication packaging systems;* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• transitioning to selling more products and services on a subscription basis;*

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• our ability to acquire companies, businesses, or technologies and successfully integrate such acquisitions;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• failing to maintain expected service levels when providing our SaaS and Expert Services or retaining our SaaS and Expert Services customers;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• meeting the demands of, or maintain relationships with, institutional, retail, and specialty pharmacy customers;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• investments in new business strategies or initiatives;* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• continued and increased competition from current and future competitors in the medication management automation solutions market and the medication adherence solutions market;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• our substantial debt obligations;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• disruptions to our information technology systems and breaches of data security or cyber-attacks on our systems or solutions;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• effectiveness of business continuity plans during any future cybersecurity incidents;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• government regulations, legislative changes, fraud and anti-kickback statues, products liability claims, the outcome of legal proceedings, and other legal obligations related to healthcare, privacy, data protection, and information security, and the costs of compliance with, and potential liability associated with, our actual or perceived failure to comply with such obligations;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• changes to the 340B Program;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• operating in foreign countries, including the potential impact of political unrest, terrorism, other potential hostilities, threats of terrorism or potential hostilities, or tariffs;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• covenants in our credit agreement could restrict our business and operations;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• climate change, legal, regulatory or market measures to address climate change and a focus on ESG matters by various stakeholders;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• recruiting and retaining skilled and motivated personnel;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• protecting our intellectual property;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• availability and sources of raw materials and components or price fluctuations, shortages, or interruptions of supply;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• dependence on a limited number of suppliers for certain components, equipment, and raw materials, as well as technologies provided by third-party vendors;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• fluctuations in quarterly and annual operating results;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• failing to meet (or significantly exceeding) our publicly announced financial guidance; and*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• other factors set forth under "Risk Factors".*

***<u>Other Information</u>***

*All references in this Quarterly Report on Form 10-Q to "Omnicell," "our," "us," "we," or "the Company" collectively refer to Omnicell, Inc., a Delaware corporation, and its subsidiaries. The term "Omnicell, Inc." refers only to Omnicell, Inc., excluding its subsidiaries.*

*We own various registered and unregistered trademarks and service marks used in our business, some of which appear in this Quarterly Report on Form 10-Q, including Omnicell*<sup>®</sup>*. This Quarterly Report on Form 10-Q may also include the trademarks and service marks of other companies. Such trademarks and service marks are the marks of their respective owners.*

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**OVERVIEW**

**Our Business**

Omnicell, a leader in transforming the pharmacy and nursing care delivery model, is committed to solving the critical challenges inherent in medication management and elevating the role of clinicians within healthcare as an essential component of care delivery. Omnicell is focused on helping its customers define and deliver a cost-effective medication management strategy designed to equip and empower pharmacists and nurses to focus on patient care rather than administrative tasks, and to drive improved clinical, operational, and financial outcomes across all care settings. We are doing this with an industry-leading medication management infrastructure which includes robotics and smart devices, software workflows, expert services, and operational and optimization analytics. This comprehensive set of solutions provides the critical foundation for customers to realize the Autonomous Pharmacy, an industry-wide vision defined by pharmacy leaders for improving operational efficiencies and ultimately targeting zero-error medication management.

Omnicell solutions are helping healthcare facilities worldwide to uncover cost savings, improve labor efficiency, establish new revenue streams, enhance supply chain control, support compliance, and move closer to the industry-defined vision of the Autonomous Pharmacy. We sell our product and consumable solutions together with related service offerings. Revenues generated in the United States represented 90% and 91% of our total revenues for the three months ended September 30, 2025 and 2024, respectively, and 91% of our total revenues for both the nine months ended September 30, 2025 and 2024.

Over the past several years, our business has expanded from a single-point solution to a platform of products and services that will help further advance the industry-defined vision of the Autonomous Pharmacy. This expansion has resulted in larger deal sizes across multiple products, services, and implementations for customers and, we believe, more comprehensive, valuable, and enduring relationships. As our business evolves, we continue to evaluate the metrics and methods we use to measure the success of our business.

<u>Global Trade Relations</u>

In recent years, the U.S. government has advocated for greater restrictions on trade generally. For example, in 2025, the U.S. imposed tariffs on a wide variety of products manufactured in multiple foreign jurisdictions, including China, Mexico, and Malaysia. In response to the ongoing changes in tariffs, several foreign countries have imposed reciprocal tariffs on goods manufactured in the United States. These tariff rates have fluctuated and may continue to fluctuate going forward. In an effort to address these actions, we have implemented various mitigation measures, including dual-sourcing of components and nearshoring manufacturing. While these actions have effectively mitigated some of the impact of these costs, there can be no assurance that we will be able to offset future increased costs or other adverse impacts. Although we continue to work to mitigate the impact of current or potential tariffs, we may incorrectly anticipate outcomes, forgo or pass up business opportunities, or fail to appropriately adapt or manage our business strategies in response to these changes. As a result of all of these factors, we may experience direct and indirect adverse effects on our business, operating results, cash flow, or financial condition.

<u>Product Bookings and Annual Recurring Revenue</u>

Starting in 2025, we began utilizing product bookings and Annual Recurring Revenue ("ARR"), each as further described below, as key performance metrics for our business. We view product bookings as an indicator of the success of certain portions of our business that generate nonrecurring revenue and we view ARR as an indicator of the success of the portions of our business that generate recurring revenues. The definitions and descriptions included below are relevant to these key performance metrics. As previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2024, product bookings and ARR have replaced our prior bookings metric that was in use through 2024.

*Product Bookings*

We utilize product bookings as an indicator of the success of certain portions of our business that generate non-recurring revenue. We define product bookings generally as the value of non-cancelable contracts for our connected devices and software licenses. We typically exclude freight revenue and other less significant items ancillary to our products from product bookings. In addition, dependent upon counterparty or credit risk, which is evaluated at the time of contract signing, for a given multi-year subscription contract we may reduce the value of the contractual commitment booked at a given time. Connected devices and software license bookings are recorded as revenue upon customer acceptance of the installation or receipt of goods.

As part of most connected devices product sales, we generally provide installation planning and consulting, which is typically included in the initial price of the solution.

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*Annual Recurring Revenue*

We consider revenues generated from our consumables, technical services, and SaaS and Expert Services to be recurring revenues. For the portions of our business which generate recurring revenues, we utilize ARR as a key metric to measure our progress in growing our recurring revenue business. We define ARR at a measurement date as the revenue we expect to receive from our customers over the course of the following year for providing them with products or services. ARR includes expected revenue from all customers who are using our products or services at the reported date. For technical services and SaaS and Expert Services, solutions are generally on a contractual basis, typically with contracts for a period of 12 months or more, with a high probability of renewal. Probability of renewal is based on historic renewal experience of the individual revenue streams or management's best estimates if historical renewal experience is not available. Consumables orders are placed by customers through our Omnicell Storefront online platform or through written or telephonic orders and are sold to a customer base who utilize the consumable products and place recurring orders when customer inventory is depleted. ARR is generally calculated based on revenues received in the most recent quarter and changes to expected revenues where solutions were added to or removed from the install or customer base in the quarter. Revenues from technical services and SaaS and Expert Services are recorded ratably over the service term. As part of our SaaS and Expert Services offerings, we provide a range of services to our customers including Central Pharmacy Dispensing Service (service portion), IV Compounding Service (service portion), EnlivenHealth, Specialty Pharmacy Services, 340B solutions, Inventory Optimization Service, and other software solutions, which typically are provided over two to seven years. In addition, to help ensure the maximum availability of our systems, our customers typically purchase technical services contracts (support and maintenance) in increments of one to five years. Revenue from consumables are recorded when the product has shipped and title has passed. Our measure of ARR may be different than that used by other companies. Because ARR is based on expected future revenue, it does not represent revenue recognized during a particular reporting period or revenue to be recognized in future reporting periods. ARR should not be viewed as a substitute for revenues.

The following table summarizes each revenue category:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Revenue Category** | **Revenue Type** | **Income Statement Classification** | **Included in Product Bookings** | **Included in ARR** |
| Connected devices, software licenses, and other | Nonrecurring | Product | Yes <sup>(1)</sup> | No |
| Consumables | Recurring | Product | No | Yes |
| Technical services | Recurring | Service | No | Yes |
| SaaS and Expert Services <sup>(2)</sup> | Recurring | Service | No | Yes |

---

_________________________________________________

<sup>(1)&nbsp;&nbsp;&nbsp;&nbsp;</sup>Certain other insignificant revenue streams ancillary to our products and services, such as freight revenue, are not included in bookings.

<sup>(2)</sup> &nbsp;&nbsp;&nbsp;&nbsp;Includes Central Pharmacy Dispensing Service (service portion), IV Compounding Service (service portion), EnlivenHealth, Specialty Pharmacy Services, 340B solutions, Inventory Optimization Service, and other software solutions.

**Operating Segments**

We manage our operations as a single segment for the purposes of assessing performance and making operating decisions. Our Chief Operating Decision Maker ("CODM") is our Chief Executive Officer. The CODM allocates resources and evaluates the performance of Omnicell at the consolidated level using our consolidated net income (loss). In addition, the CODM is provided with certain segment assets and liabilities, primarily those that impact liquidity, as well as certain significant expenses. All significant operating decisions are based upon an analysis of Omnicell as one operating segment, which is the same as our reporting segment.

Our full-time employee headcount was approximately 3,600 as of September 30, 2025.

**Business Strategy**

In 2024, the United States spent $806 billion on prescription drugs, a 10.2% increase from 2023. We believe there are significant challenges facing the practice of pharmacy today including, but not limited to, budget constraints, increased healthcare worker turnover rates, labor shortages, drug shortages, drug diversion, manual and error-prone processes, complex compliance requirements, and limited inventory visibility. Each of these challenges may lead to poor medication management outcomes including, but not limited to, medication errors, adverse drug events, lack of patient adherence, and medication waste. We also recognize that these challenges may impact the timing of contracting for, or implementation of, our products, solutions, or services. However, we believe that over time these significant challenges to the practice of pharmacy will drive demand for increased automation, visibility, insights, and improved medication management outcomes that our solutions are designed to enable. Because of this, we believe that our solutions are well-positioned to address the evolving needs of healthcare institutions and therefore present opportunities for long-term growth.

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In an effort to address these challenges and deliver solutions to help drive positive medication management outcomes, we continue to make significant investments in our research and development efforts to further advance the industry-defined vision of the Autonomous Pharmacy. Furthermore, we believe a combination of robotics and smart devices, software workflows, expert services, and operational and optimization analytics is needed in every care setting where medications are managed. We are focused on delivering solutions to help our customers realize the industry-defined vision of the Autonomous Pharmacy and drive positive medication management outcomes with outstanding customer experience through a mature channel in four market categories:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Points of Care.** As a market leader, we expect to continue expansion into this product market as customers increase the use of our dispensing systems in more areas within their hospitals and increasingly in ambulatory care settings. Macroeconomic trends in our target market continue to improve as health system margins and volumes increase and stabilize in the post-pandemic environment. This positive trajectory is expected to drive increased demand for system modernization through automation, software, and analytics. We are seeing customers seek to maximize the value of existing automated dispensing system investments and continue to invest in next-generation enhancements and solutions for points of care. We believe that customers will upgrade their current installed base over time as we deliver these new solutions to market. We also believe there is an opportunity for us to expand this offering and define a new standard for dispensing systems in ambulatory settings. We believe our current solutions for Points of Care and new innovations and services will continue to help customers drive improved clinical and financial outcomes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Central Pharmacy and IV Compounding.** This market represents the beginning of the medication management process in acute care settings, and we believe it is a significant automation opportunity for high volumes of manual, repetitive, and error-prone processes that are often common in pharmacies today. Manual medication dispensing processes are usually labor intensive, error-prone, and may lead to excess medication waste and expirations for our healthcare partners. Automating the central pharmacy dispensing process should enable customers to reallocate pharmacy labor, enhance dispensing accuracy and patient safety, and reduce medication waste and expirations. Likewise, the manual compounding of sterile IV preparations can be error-prone and create significant patient safety risks, and outsourcing sterile IV compounding could lead to increased medication costs and lack of access to needed medications due to an inability to source medications when they are required. As a result, we believe IV automation provides a significant opportunity to enhance patient safety and reduce costs. We anticipate that these technology-enabled services will become more critical as health systems continue to face labor shortages, increased financial pressure, and supply chain disruptions.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Specialty Pharmacy and 340B Program.** We believe that health systems will continue to invest in programs that are intended to improve patient outcomes and drive cost savings by utilizing specialty pharmacies and the federal 340B Drug Pricing Program (the "340B Program"). The 340B Program allows qualifying hospitals and health systems to stretch federal resources and expand patient access to healthcare by requiring manufacturers participating in Medicaid to sell outpatient drugs at discounted prices to eligible healthcare organizations and covered entities. Specialty drugs are used for treatment of complex conditions and often require intensive patient management and specialized workflows for dispensing and care coordination. Specialty medications are projected to account for nearly 60% of U.S. total spending on medications, with total spending projected to be approximately $420 billion in 2025. Specialty pharmacies serve as the connection between patients, prescribing physicians, and payers and work to streamline access and adherence to these specialty drugs. We believe a solution that is designed to help health systems start or optimize their specialty pharmacy programs and the related pharmaceutical aspects of patient care will help ensure continuity of care and should contribute to the revenue and profitability of those organizations. We believe that a fully optimized specialty pharmacy operation represents one of the largest economic opportunities for hospitals and health systems.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• **Ambulatory Care.** We believe ambulatory care, especially the retail and institutional market, represents a significant opportunity as healthcare evolves. Retail pharmacies are expected to fill 4.98 billion prescriptions in 2025 and grow at a compound annual growth rate of around 7.1%, which would result in an approximate $1.2 trillion market valuation by 2032. Additionally, the shift of outpatient care from hospitals and physician offices to other, more convenient settings, such as retail pharmacies and the home continues to be a growing trend. New technologies and increased scope of practice for pharmacists appear to be spurring innovation and expansion of the provision of clinical services by retail pharmacies. We believe this development, combined with the move to value-based care, will drive the adoption of our patient engagement offerings. These solutions are intended to help providers (including pharmacists) engage patients in new ways that are expected to improve outcomes, reduce the total cost of care, and lead to more profitable operations.

**CRITICAL ACCOUNTING ESTIMATES**

Our discussion and analysis of our financial condition and results of operations are based on our Condensed Consolidated Financial Statements, which have been prepared in accordance with U.S. Generally Accepted Accounting

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Principles ("GAAP"). The preparation of these financial statements requires us to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of any contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. We regularly review our estimates and assumptions, which are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of certain assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates and assumptions.

We believe the following critical accounting policies are affected by significant judgments and estimates used in the preparation of our Condensed Consolidated Financial Statements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Revenue recognition;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Inventory; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Accounting for income taxes.

There have been no material changes in our critical accounting policies and estimates during the nine months ended September 30, 2025 as compared to those disclosed in "Management's Discussion and Analysis of Financial Condition and Results of Operations" included in our Annual Report on Form 10-K for the year ended December 31, 2024.

**Recently Issued Authoritative Guidance**

Refer to "Recently Issued Authoritative Guidance" in Note 1, *Organization and Summary of Significant Accounting Policies*, of the Notes to Condensed Consolidated Financial Statements in this Quarterly Report on Form 10-Q for a description of recently issued accounting pronouncements, including the expected dates of adoption and estimated effects on our results of operations, financial position, and cash flows.

**RESULTS OF OPERATIONS**

**Total Revenues**

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| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | | | **Change in** |
| | **2025** | **2024** | $**%** |
| | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** |
| Product revenues | $177498 | $158361 | 12% |
| &nbsp;&nbsp;&nbsp;*Percentage of total revenues* | *57%* | *56%* |  |
| Service revenues | 133133 | 124059 | 7% |
| &nbsp;&nbsp;&nbsp;*Percentage of total revenues* | *43%* | *44%* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenues | $310631 | $282420 | 10% |

---

Product revenues represented 57% and 56% of total revenues for the three months ended September 30, 2025 and 2024, respectively. Product revenues increased by $19.1 million, primarily due to the increase in revenues from our XTExtend offering, partially offset by the decrease in revenues from products related to our Central Pharmacy Dispensing Service offering.

Service revenues represented 43% and 44% of total revenues for the three months ended September 30, 2025 and 2024. Service revenues include revenues from technical services and SaaS and Expert Services offerings. Service revenues increased by $9.1 million due to an increase of $7.7 million in technical services revenues primarily as a result of growth in our installed customer base and the impact of pricing actions. The increase is also driven by an increase of $1.4 million in SaaS and Expert Services revenues due to continued customer demand, including an increase in revenues from our Specialty Pharmacy Services offering, partially offset by lower revenues from the EnlivenHealth portfolio.

Our international sales represented 10% and 9% of total revenues for the three months ended September 30, 2025 and 2024, respectively, and are expected to be affected by foreign currency exchange rate fluctuations. We are unable to predict the extent to which revenues in future periods will be impacted by changes in foreign currency exchange rates.

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| | | | |
|:---|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | | | **Change in** |
| | **2025** | **2024** | $**%** |
| | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** |
| Product revenues | $485838 | $448236 | 8% |
| &nbsp;&nbsp;&nbsp;*Percentage of total revenues* | *56%* | *56%* |  |
| Service revenues | 385023 | 357123 | 8% |
| &nbsp;&nbsp;&nbsp;*Percentage of total revenues* | *44%* | *44%* |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenues | $870861 | $805359 | 8% |

---

Product revenues represented 56% of total revenues for both the nine months ended September 30, 2025 and 2024. Product revenues increased by $37.6 million, primarily due to the increase in revenues from our XTExtend offering, partially offset by lower volumes from our XT Series automated dispensing systems business due to the timing of our XT Series systems lifecycle, as we are largely through the replacement cycle, as well as the decrease in revenues from products related to our Central Pharmacy Dispensing Service offering.

Service revenues represented 44% of total revenues for both the nine months ended September 30, 2025 and 2024. Service revenues include revenues from technical services and SaaS and Expert Services offerings. Service revenues increased by $27.9 million due to an increase of $15.0 million in technical services revenues primarily as a result of growth in our installed customer base and the impact of pricing actions. The increase is also driven by an increase of $12.9 million in SaaS and Expert Services revenues due to continued customer demand, including an increase in revenues from our Specialty Pharmacy Services offering, partially offset by lower revenues from the EnlivenHealth portfolio.

Our international sales represented 9% of total revenues for both the nine months ended September 30, 2025 and 2024, and are expected to be affected by foreign currency exchange rate fluctuations. We are unable to predict the extent to which revenues in future periods will be impacted by changes in foreign currency exchange rates.

Our ability to grow revenues is dependent on our ability to continue to obtain orders from customers, which may be dependent upon customers' capital equipment budgets and/or capital equipment approval cycles, our ability to produce quality products and consumables to fulfill customer demand, the volume of installations we are able to complete, our ability to meet customer needs by providing a quality installation experience, our ability to develop new or enhance existing solutions, and our flexibility in workforce allocations among customers to complete installations on a timely basis. The timing of our product revenues for equipment is primarily dependent on when our customers' schedules and/or staffing levels allow for installations.

**Cost of Revenues and Gross Profit**

Cost of revenues is primarily comprised of three general categories: (i) standard product costs which account for the majority of the product cost of revenues that are provided to customers, and are inclusive of purchased material, labor to build the product, and overhead costs associated with production; (ii) costs of providing services and installation costs, including costs of personnel and other expenses; and (iii) other costs, including variances in standard costs and overhead, scrap costs, rework, provisions for excess and obsolete inventory, and amortization of software development costs and intangibles.

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| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | | | **Change in** |
| | **2025** | **2024** | $**%** |
| | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** |
| Cost of revenues: |  |  |  |
| &nbsp;&nbsp;&nbsp;Cost of product revenues | $96741 | $94448 | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;*As a percentage of related revenues* | *55%* | *60%* |  |
| &nbsp;&nbsp;Cost of service revenues | 79387 | 65704 | 21% |
| &nbsp;&nbsp;&nbsp;&nbsp;*As a percentage of related revenues* | *60%* | *53%* |  |
| Total cost of revenues | $176128 | $160152 | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;*As a percentage of total revenues* | *57%* | *57%* |  |
| Gross profit | $134503 | $122268 | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;*Gross margin* | *43%* | *43%* |  |

---

Cost of revenues for the three months ended September 30, 2025 compared to the three months ended September 30, 2024 increased by $16.0 million, of which $13.7 million was attributed to the increase in cost of service revenues and $2.3 million was attributed to the increase in cost of product revenues.

The increase in cost of product revenues for the three months ended September 30, 2025 compared to the three months ended September 30, 2024 was driven by an increase in product revenues of $19.1 million for the comparable period. The increase in cost of product revenues has not increased proportionally with the increase in product revenues primarily due to the favorable impact of product and customer mix, partially offset by the impact of tariffs during the three months ended September 30, 2025.

The increase in cost of service revenues was primarily driven by the increase in service revenues of $9.1 million for the three months ended September 30, 2025 compared to the three months ended September 30, 2024, including the associated increase in employee-related expenses, and an increase in certain non-recurring costs, including software upgrade expenses.

The overall gross margin remained relatively consistent for the three months ended September 30, 2025 compared to the three months ended September 30, 2024 primarily due to favorable impact of product and customer mix, partially offset by increases in employee-related and certain non-recurring software upgrade expenses and the impact of tariffs. Our gross profit for the three months ended September 30, 2025 was $134.5 million, as compared to $122.3 million for the three months ended September 30, 2024.

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| | | | |
|:---|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | | | **Change in** |
| | **2025** | **2024** | $**%** |
| | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** |
| Cost of revenues: |  |  |  |
| &nbsp;&nbsp;&nbsp;Cost of product revenues | $274245 | $286270 | (4)% |
| &nbsp;&nbsp;&nbsp;&nbsp;*As a percentage of related revenues* | *56%* | *64%* |  |
| &nbsp;&nbsp;Cost of service revenues | 223499 | 189847 | 18% |
| &nbsp;&nbsp;&nbsp;&nbsp;*As a percentage of related revenues* | *58%* | *53%* |  |
| Total cost of revenues | $497744 | $476117 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;*As a percentage of total revenues* | *57%* | *59%* |  |
| Gross profit | $373117 | $329242 | 13% |
| &nbsp;&nbsp;&nbsp;&nbsp;*Gross margin* | *43%* | *41%* |  |

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Cost of revenues for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024 increased by $21.6 million, primarily driven by a $33.7 million increase in cost of service revenues, partially offset by a $12.0 million decrease in cost of product revenues.

The decrease in cost of product revenues for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024 was primarily driven by the impact of more favorable materials costs as well as favorable impact from product and customer mix during the nine months ended September 30, 2025 and a decrease of $3.3 million of restructuring costs, partially offset by an increase in product revenues and the impact of tariffs.

The increase in cost of service revenues was primarily driven by the increase in service revenues of $27.9 million for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, including the associated increase in employee-related expenses, and an increase in certain non-recurring costs, including software upgrade expenses.

The overall increase in gross margin primarily relates to higher revenues for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, as well as a decrease in cost of product revenues for the nine months ended September 30, 2025 primarily due to the impact of more favorable materials costs as well as favorable impact from product and customer mix, partially offset by the impact of tariffs and an increase in employee-related and certain non-recurring software upgrade expenses. Our gross profit for the nine months ended September 30, 2025 was $373.1 million, as compared to $329.2 million for the nine months ended September 30, 2024.

**Operating Expenses and Interest and Other Income (Expense), Net**

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| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | | | **Change in** |
| | **2025** | **2024** | $**%** |
| | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** |
| Operating expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;Research and development | $24021 | $21214 | 13% |
| &nbsp;&nbsp;&nbsp;&nbsp;*As a percentage of total revenues* | *8%* | *8%* |  |
| &nbsp;&nbsp;&nbsp;Selling, general, and administrative | 102238 | 94490 | 8% |
| &nbsp;&nbsp;&nbsp;&nbsp;*As a percentage of total revenues* | *33%* | *33%* |  |
| Total operating expenses | $126259 | $115704 | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;*As a percentage of total revenues* | *41%* | *41%* |  |
| Interest and other income (expense), net | $1459 | $5063 | (71)% |

---

*Research and Development.* Research and development expenses increased by $2.8 million for the three months ended September 30, 2025 compared to the three months ended September 30, 2024.

*Selling, General, and Administrative*. Selling, general, and administrative expenses increased by $7.7 million for the three months ended September 30, 2025 compared to the three months ended September 30, 2024. The increase was primarily due to an increase of $5.2 million in employee-related expenses and an increase of $1.6 million in freight out for the three months ended September 30, 2025 compared to the three months ended September 30, 2024.

*Interest and Other Income (Expense), Net.* Interest and other income (expense), net changed by $3.6 million for the three months ended September 30, 2025 compared to the three months ended September 30, 2024, primarily driven by a $3.9 million decrease in other income and a $0.3 million decrease in other expense. The decrease in other income during the three months ended September 30, 2025 as compared to the three months ended September 30, 2024 is primarily attributable to lower interest income received due to lower interest rates and lower cash and cash equivalents balances following the partial repurchase of our convertible senior notes in November 2024 and repurchases of our common stock during the second and third quarters of 2025.

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| | | | |
|:---|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | | | **Change in** |
| | **2025** | **2024** | $**%** |
| | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** |
| Operating expenses: |  |  |  |
| &nbsp;&nbsp;&nbsp;Research and development | $66120 | $64372 | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;*As a percentage of total revenues* | *8%* | *8%* |  |
| &nbsp;&nbsp;&nbsp;Selling, general, and administrative | 302252 | 276929 | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;*As a percentage of total revenues* | *35%* | *34%* |  |
| Total operating expenses | $368372 | $341301 | 8% |
| &nbsp;&nbsp;&nbsp;&nbsp;*As a percentage of total revenues* | *42%* | *42%* |  |
| Interest and other income (expense), net | $5881 | $14052 | (58)% |

---

*Research and Development.* Research and development expenses increased by $1.7 million for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024.

*Selling, General, and Administrative*. Selling, general, and administrative expenses increased by $25.3 million for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. The increase was primarily due to an increase of $16.5 million in employee-related expenses primarily as a result of higher headcount and annual merit increases, an increase of $2.9 million in the allowance for credit losses, an increase of $2.7 million for legal and regulatory expenses, an increase of $2.4 million in certain restructuring and severance charges, and an increase in commissions of $2.3 million for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024.

*Interest and Other Income (Expense), Net.* Interest and other income (expense), net changed by $8.2 million for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, primarily driven by a $9.0 million decrease in other income and a $0.8 million decrease in other expense. The decrease in other income during the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024 is primarily attributable to lower interest income received due to lower interest rates and lower cash and cash equivalents balances following the partial repurchase of our convertible senior notes in November 2024 and repurchases of our common stock during the second and third quarters of 2025.

**Provision for Income Taxes**

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| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | | | **Change in** |
| | **2025** | **2024** | $**%** |
| | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** |
| Provision for income taxes | $4241 | $2997 | 42% |

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| | | | |
|:---|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | | | **Change in** |
| | **2025** | **2024** | $**%** |
| | **(Dollars in thousands)** | **(Dollars in thousands)** | **(Dollars in thousands)** |
| Provision for income taxes | $6548 | $5304 | 23% |

---

For the nine months ended September 30, 2025 and September 30, 2024, we recorded a provision for income taxes of $6.5 million and $5.3 million, respectively, by applying our estimated annual effective tax rate to our year-to-date measure of ordinary income and adjusted for $3.2 million and $4.9 million, respectively, of discrete income tax expense primarily from equity compensation. The change in the provision for income taxes for the nine months ended September 30, 2025 compared to the provision for income taxes for the same period in 2024 was insignificant, consisting of various offsetting components of annual effective tax rate and discrete income tax expense.

Refer to Note 15, *Income Taxes*, of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information.

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**LIQUIDITY AND CAPITAL RESOURCES**

We had cash and cash equivalents of $180.1 million at September 30, 2025 compared to $369.2 million at December 31, 2024. All of our cash and cash equivalents are invested in bank accounts and money market funds held in sweep and asset management accounts with financial institutions of high credit quality.

Our cash position and working capital at September 30, 2025 and December 31, 2024 were as follows:

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| | | |
|:---|:---|:---|
| | **September 30,<br>2025** | **December 31,<br>2024** |
| | **(In thousands)** | **(In thousands)** |
| Cash and cash equivalents | $180053 | $369201 |
| Working capital | $203032 | $219815 |

---

Our ratio of current assets to current liabilities was 1.4:1 at both September 30, 2025 and December 31, 2024.

**Sources of Cash** 

*Revolving Credit Facility*

On November 15, 2019, Omnicell, Inc. entered into an Amended and Restated Credit Agreement (as amended, the "Prior A&R Credit Agreement") with the lenders from time to time party thereto, Wells Fargo Securities, LLC, Citizens Bank, N.A., and JPMorgan Chase Bank, N.A., as joint lead arrangers, and Wells Fargo Bank, National Association, as administrative agent. The Prior A&R Credit Agreement provided for (a) a five-year revolving credit facility of $500.0 million (the "Prior Revolving Credit Facility") and (b) an uncommitted incremental loan facility of up to $250.0 million (the "Prior Incremental Facility"). In addition, the Prior A&R Credit Agreement included a letter of credit sub-limit of up to $15.0 million and a swing line loan sub-limit of up to $25.0 million. The Prior A&R Credit Agreement was subsequently amended on September 22, 2020 and March 29, 2023 to permit the issuance of the convertible senior notes and the purchase of the convertible note hedge transactions (as described in Note 11, *Convertible Senior Notes*, of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q), expand our flexibility to make restricted payments (including common stock repurchases), and replace the total net leverage covenant, as well as to remove and replace the interest rate benchmark based on the London interbank offered rate ("LIBOR") and related LIBOR-based mechanics with an interest rate benchmark based on the secured overnight financing rate ("SOFR") as administered by the Federal Reserve Bank of New York and related SOFR-based mechanics.

On October 10, 2023, Omnicell, Inc. entered into a Second Amended and Restated Credit Agreement (the "Second A&R Credit Agreement") with the lenders from time to time party thereto, Wells Fargo Securities, LLC, JPMorgan Chase Bank, N.A., PNC Capital Markets LLC and TD Securities (USA) LLC as joint lead arrangers and Wells Fargo Bank, National Association, as administrative agent. The Second A&R Credit Agreement supersedes the Prior A&R Credit Agreement and provides for (a) a five-year revolving credit facility of $350.0 million (the "Current Revolving Credit Facility") and (b) an uncommitted incremental loan facility of up to an amount equal to the sum of (i) the greater of $250.0 million and 100% of the adjusted consolidated EBITDA for the last four quarters and (ii) additional amounts subject to pro forma compliance with certain consolidated secured net leverage ratio (the "Current Incremental Facility"). In addition, the Second A&R Credit Agreement includes a letter of credit sub-limit of up to $15.0 million and a swing line loan sub-limit of up to $25.0 million. The Second A&R Credit Agreement has an expiration date of October 10, 2028, subject to acceleration under certain conditions, upon which date all remaining outstanding borrowings will be due and payable.

As of September 30, 2025, we had $350.0 million of funds available under the Current Revolving Credit Facility. As of September 30, 2025, there was no outstanding balance under the Current Revolving Credit Facility and we were in full compliance with all covenants.

Refer to Note 10, *Debt and Credit Agreement*, of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information. We expect to use future loans under the Current Revolving Credit Facility, if any, for working capital, potential acquisitions, and other general corporate purposes.

*Convertible Senior Notes*

On November 22, 2024, Omnicell, Inc. completed a private offering of $172.5 million aggregate principal amount of 1.00% Convertible Senior Notes due 2029 (the "2029 Notes"), including the exercise in full of the initial purchasers' option to purchase up to an additional $22.5 million aggregate principal amount of the 2029 Notes. Omnicell, Inc. received proceeds from the issuance of the 2029 Notes of $166.3 million, net of $6.2 million of transaction fees and other debt issuance costs. The 2029 Notes bear interest at a rate of 1.00% per year, payable semiannually in arrears on June 1 and December 1 of each year,

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beginning on June 1, 2025. The 2029 Notes are general senior, unsecured obligations of Omnicell, Inc. and will mature on December 1, 2029, unless earlier redeemed, repurchased, or converted. In connection with the issuance of the 2029 Notes, in November 2024, we entered into warrant transactions and received aggregate proceeds from the sale of the warrants of approximately $25.2 million. Refer to Note 11, *Convertible Senior Notes*, of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information.

**Uses of Cash**

Our future uses of cash are expected to be primarily for working capital, capital expenditures, and other contractual obligations. We may also use cash for potential acquisitions and acquisition-related activities, as well as repurchases of our common stock.

During the nine months ended September 30, 2025, we repurchased approximately 2,523,000 shares of our common stock under the 2016 and 2025 Repurchase Programs at an average price of $30.74 per share for an aggregate purchase price of approximately $77.6 million, which completed the 2016 Repurchase Program and substantially completed the 2025 Repurchase Program. Refer to "Stock Repurchase Programs" under Note 16, *Employee Benefits and Share-Based Compensation*, of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information.

In November 2024, we completed a partial repurchase of $400.0 million aggregate principal amount of the 2025 Notes for approximately $391.0 million in cash. The 2025 Notes matured on September 15, 2025 and we repaid the remaining principal balance of $175.0 million in cash. Refer to Note 11, *Convertible Senior Notes*, of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information.

In connection with the issuance of the 2029 Notes, in November 2024, we entered into convertible note hedge transactions and used approximately $40.3 million of the net proceeds from the offering to pay the cost of the convertible note hedges.

Based on our current business plan and backlog, we believe that our existing cash and cash equivalents, our anticipated cash flows from operations, cash generated from the exercise of employee stock options and purchases under our Employee Stock Purchase Plan ("ESPP"), along with the availability of funds under the Current Revolving Credit Facility will be sufficient to meet our cash needs for working capital, capital expenditures, potential acquisitions, and other contractual obligations for at least the next twelve months. For periods beyond the next twelve months, we also anticipate that our net operating cash flows plus existing balances of cash and cash equivalents will suffice to fund the growth of our business.

**Cash Flows**

The following table summarizes, for the periods indicated, selected items in our Condensed Consolidated Statements of Cash Flows:

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| | | |
|:---|:---|:---|
| | **Nine Months Ended September 30,** | **Nine Months Ended September 30,** |
| | **2025** | **2024** |
| | **(In thousands)** | **(In thousands)** |
| Net cash provided by (used in): |  |  |
| &nbsp;&nbsp;&nbsp;Operating activities | $96946 | $131407 |
| &nbsp;&nbsp;&nbsp;Investing activities | (45943) | (39225) |
| &nbsp;&nbsp;&nbsp;Financing activities | (227412) | (1148) |
| Effect of exchange rate changes on cash and cash equivalents | 3250 | 879 |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | $(173159) | $91913 |

---

*Operating Activities*

We expect cash from our operating activities to fluctuate in future periods as a result of a number of factors, including the timing of our billings and collections, our operating results, and the timing of other liability payments.

Net cash provided by operating activities was $96.9 million for the nine months ended September 30, 2025, primarily consisting of operating inflows of $105.3 million and unfavorable working capital movements of $8.4 million. Operating inflows consisted of net income of $4.1 million, adjusted for non-cash items of $101.2 million, which consisted primarily of depreciation and amortization expense of $59.0 million and share-based compensation expense of $32.5 million. The unfavorable working capital was primarily due to an increase in inventories of $17.7 million to support production

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requirements, including advanced purchases of certain components, as well as the impact of tariffs, a decrease in accrued liabilities of $13.1 million primarily due a decrease in taxes payable, a decrease in accrued compensation of $11.0 million primarily due to a decrease in accrued employee bonuses and commissions, as well as timing of ESPP purchases, an increase in other current assets of $10.0 million, and a decrease in operating lease liabilities of $8.8 million. These cash outflows were partially offset by an increase in deferred revenues of $26.9 million, due to the timing of billings and customers' installation schedules, a decrease in accounts receivable and unbilled receivables of $12.5 million primarily due to the timing of billings, shipments, and collections, an increase in accounts payable of $10.7 million primarily due to an increase in inventory spend and timing of payments, and a decrease in other long-term assets of $5.9 million.

Net cash provided by operating activities was $131.4 million for the nine months ended September 30, 2024, primarily consisting of operating inflows of $93.8 million and favorable working capital movements of $37.6 million. Operating inflows consisted of a net loss of $3.3 million, adjusted for non-cash items of $97.1 million, which consisted primarily of depreciation and amortization expense of $62.3 million, share-based compensation expense of $30.3 million, inventory write-down charges of $5.4 million, amortization of operating lease right-of-use assets of $5.3 million, and a change in deferred income taxes of $9.4 million. The favorable working capital was primarily due to an increase in deferred revenues of $27.7 million driven by an increase in billings, a decrease in inventories of $10.0 million resulting from inventory management initiatives, a decrease of $8.4 million in other current assets due to a decrease in income tax receivables, and an increase of $7.0 million in accrued liabilities due to an increase in rebate liabilities. These cash inflows were partially offset by a decrease of $8.0 million in operating lease liabilities, an increase of $7.5 million in investment in sales-type leases resulting from growth in our SaaS and Expert Services offerings, and a decrease in accrued compensation of $6.7 million.

*Investing Activities*

Net cash used in investing activities was $45.9 million for the nine months ended September 30, 2025, which consisted of capital expenditures of $32.7 million for property and equipment and $13.2 million for external-use software development costs.

Net cash used in investing activities was $39.2 million for the nine months ended September 30, 2024, which consisted of capital expenditures of $27.4 million for property and equipment and $11.8 million for external-use software development costs.

*Financing Activities*

Net cash used in financing activities was $227.4 million for the nine months ended September 30, 2025, primarily due to the repayment of the remaining principal balance of our 2025 Notes of $175.0 million, repurchases of shares of our common stock of $77.6 million, and $6.0 million in employees' taxes paid related to restricted stock unit vesting, partially offset by $15.2 million in proceeds from employee stock option exercises and ESPP purchases and a net change in the customer funds balances of $16.0 million.

Net cash used in financing activities was $1.1 million for the nine months ended September 30, 2024, primarily due to a net change in the customer funds balances of $10.7 million, partially offset by $13.1 million in proceeds from employee stock option exercises and ESPP purchases.

**Contractual Obligations**

There have been no significant changes during the nine months ended September 30, 2025 to the contractual obligations disclosed in "Management's Discussion and Analysis of Financial Condition and Results of Operations," set forth in Part II, Item 7, of our Annual Report on Form 10-K for the year ended December 31, 2024, other than as described in Note 11, *Convertible Senior Notes,* of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q.

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Contractual obligations as of September 30, 2025 were as follows:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Payments Due By Period** | **Payments Due By Period** | **Payments Due By Period** | **Payments Due By Period** | **Payments Due By Period** |
| | **Total** | **Remainder of 2025** | **2026-2027** | **2028-2029** | **2030 and thereafter** |
| | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** | **(In thousands)** |
| Operating leases <sup>(1)</sup> | $43556 | $3476 | $25146 | $13041 | $1893 |
| Purchase obligations <sup>(2)</sup> | $134956 | 82111 | 52822 | 23 |  |
| Convertible senior notes <sup>(3)</sup> | $180268 | 863 | 3450 | 175955 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total <sup>(4)</sup> | $358780 | $86450 | $81418 | $189019 | $1893 |

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<sup>(1)</sup> Commitments under operating leases relate primarily to leased office buildings, data centers, office equipment, and vehicles. Refer to Note 13, *Lessee Leases*, of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information.

<sup>(2)</sup> We purchase components from a variety of suppliers and use contract manufacturers to provide manufacturing services for our products. During the normal course of business, we issue purchase orders with estimates of our requirements several months ahead of the delivery dates. These amounts are associated with agreements that are enforceable and legally binding. The amounts under such contracts are included in the table above because we believe that cancellation of these contracts is unlikely and we expect to make future cash payments according to the contract terms or in similar amounts for similar materials.

<sup>(3)</sup> We issued the 2029 Notes in November 2024 that are due in December 2029. The obligations presented above include both principal and interest on these notes. Although these notes mature in 2029, they may be converted into cash and shares of our common stock prior to maturity if certain conditions are met. Any conversion prior to maturity can result in repayment of the principal amounts sooner than the scheduled repayment as indicated in the table above. Refer to Note 11, *Convertible Senior Notes,* of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information.

<sup>(4)</sup> Refer to Note 14, *Commitments and Contingencies,* of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information.

**ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**

We are exposed to market risks related to fluctuations in foreign currency exchange rates and interest rates.

**Foreign Currency Exchange Risk** 

We operate in foreign countries which expose us to market risk associated with foreign currency exchange rate fluctuations between the U.S. dollar and various foreign currencies, the most significant of which are the British Pound and the Euro. In order to manage foreign currency risk, at times we enter into foreign exchange forward contracts to mitigate risks associated with changes in spot exchange rates of mainly non-functional currency denominated assets or liabilities of our foreign subsidiaries. In general, the market risk related to these contracts is offset by corresponding gains and losses on the hedged transactions. By working only with major banks and closely monitoring current market conditions, we seek to limit the risk that counterparties to these contracts may be unable to perform. We do not enter into derivative contracts for trading purposes. As of September 30, 2025, we did not have any outstanding foreign exchange forward contracts.

**Interest Rate Fluctuation Risk** 

We are exposed to interest rate risk through our borrowing activities. As of September 30, 2025, there was no outstanding balance under the current Second A&R Credit Agreement. Refer to Note 10, *Debt and Credit Agreement,* of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information.

As of September 30, 2025, the net carrying amount under the 2029 Notes was $167.3 million. Although our convertible senior notes are based on a fixed rate, changes in interest rates could impact the fair value of such notes. As of September 30, 2025, the fair market value of the 2029 Notes was $159.9 million. Refer to Note 5, *Cash and Cash Equivalents and Fair Value of Financial Instruments*, and Note 11, *Convertible Senior Notes,* of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information.

We have used, and in the future we may use, interest rate swap agreements to protect against adverse fluctuations in interest rates by reducing our exposure to variability in cash flows relating to interest payments on a portion of our outstanding debt. We do not hold or issue any derivative financial instruments for speculative trading purposes. As of September 30, 2025, we did not have any outstanding interest rate swap agreements.

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There were no significant changes in our market risk exposures during the nine months ended September 30, 2025 as compared to the market risk exposures disclosed in "Quantitative and Qualitative Disclosures About Market Risk," set forth in Part II, Item 7A of our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 27, 2025.

**ITEM 4. CONTROLS AND PROCEDURES**

**Evaluation of Disclosure Controls and Procedures**

Our management, with the participation of our principal executive officer and principal financial officer, evaluated the effectiveness of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this report. In designing and evaluating the disclosure controls and procedures, management recognized that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. In addition, the design of disclosure controls and procedures must reflect the fact that there are resource constraints and that management is required to apply its judgment in evaluating the benefits of possible controls and procedures relative to their costs.

Based on such evaluation, our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures were effective at the reasonable assurance level as of the end of the period covered by this report, that the information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and that such information is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure.

**Limitations on Effectiveness of Controls**

Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act). Our internal control system is designed to provide reasonable assurance regarding the preparation and fair presentation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles. All internal control systems, no matter how well designed, have inherent limitations and can provide only reasonable assurance that the objectives of the internal control system are met.

**Changes in Internal Control over Financial Reporting** 

There have been no changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting during the three months ended September 30, 2025.

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**PART II. OTHER INFORMATION**

**ITEM 1. LEGAL PROCEEDINGS**

The information set forth under "Legal Proceedings" in Note 14, *Commitments and Contingencies*, of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q is incorporated herein by reference.

**ITEM 1A. RISK FACTORS**

Other than the updates provided below, please refer to Part I - Item 1A. "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on February 27, 2025.

***Failure to generate new sales and any reduction in the demand for or adoption of our medication management solutions, medication packaging systems, or related services would reduce our revenues.***

A significant portion of domestic and international healthcare facilities still use traditional approaches to medication and/or supply management in some form that do not include fully automated methods of medication management. As a result, we must continuously educate existing and prospective customers about the potential advantages of our medication management solutions and medication packaging systems, which requires significant sales efforts and can cause longer sales cycles. Despite our significant efforts and extensive time commitments targeting sales to healthcare facilities, we cannot be assured that our efforts will result in sales to these customers.

In addition, our medication management solutions and our more complex automated packaging systems typically represent a sizable initial capital expenditure and potential time and labor commitment to implement for healthcare organizations. Changes in the budgets of these organizations and the timing of spending under these budgets, as well as customer labor shortages, can have a significant effect on the demand for our medication management solutions, medication packaging systems, and related services. Customer budgets are often supported by cash flows that can be negatively affected by declining investment income and influenced by limited resources, increased operational and financing costs, macroeconomic conditions, and conflicting spending priorities among different departments. Furthermore, in the current fluid tariff environment, the imposition of tariffs may raise the operating costs for healthcare organizations, which in turn could put increased pressure on their budgets or capital spending as well as impact the timing of their spending. Any decrease in expenditures or change in spending priorities by healthcare facilities or increased financing costs, including as a result of the impacts of public health crises, including pandemics, could decrease demand for our medication management solutions, medication packaging systems, and related services, and reduce our revenues.

Also, the continuing gradual transition to a value-based care healthcare delivery model could shift more of the burden of financial risk onto healthcare provider organizations and could decrease utilization of healthcare per patient. Value-based care could also cause a shift in sites of care from traditional venues, such as hospitals and clinics, to the home, and could impact our revenues.

***Our international operations may subject us to additional risks that can adversely affect our business, operating results, cash flow, or financial condition.***

We currently have operations outside of the United States, including sales efforts centered in Canada, Europe, the Middle East, and the Asia-Pacific regions, and supply chain efforts in Asia. We intend to continue to expand our international operations, particularly in certain markets that we view as strategic, including the Middle East. Our international operations subject us to a variety of risks, including:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our reliance on distributors for the sale of our medication management solutions outside the United States, Canada, the UK, France, and Germany;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the difficulty of managing an organization operating in various countries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• reduced protection for intellectual property rights in certain jurisdictions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the imposition of, or adverse changes in, international laws and regulations, including privacy and security, labor, import, export, trade (including tariffs), environmental standards, product compliance, tax, anti-bribery, and employment laws;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• fluctuations in currency exchange rates and difficulties in repatriating funds from certain countries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• additional investment, coordination, and lead-time necessary to successfully interface our automation solutions with the existing information systems of our customers or potential customers outside of the United States;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• political unrest, terrorism, other potential hostilities (such as the ongoing conflicts between Russia and Ukraine, Israel and Hamas, or future conflict between the United States and Iran), or threats of terrorism or potential hostilities (such as conflict between China and Taiwan), including in areas in which we have facilities or operations; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• epidemics, pandemics, or other major public health crises.

If we are unable to anticipate and address these risks properly, our business, operating results, cash flow, or financial condition could be harmed.

Furthermore, in recent years, the U.S. government has advocated for greater restrictions on trade generally. For example in 2025, the U.S. imposed tariffs on a wide variety of products manufactured in multiple foreign jurisdictions, including China, Mexico, and Malaysia. In response to the ongoing changes in tariffs, several foreign countries have imposed reciprocal tariffs on goods manufactured in the United States. These tariff rates have fluctuated and may continue to fluctuate going forward. Although we continue to work to mitigate the impact of current or potential tariffs, we may incorrectly anticipate outcomes, forgo or pass up business opportunities, or fail to appropriately adapt or manage our business strategies in response to these changes.

We cannot predict what additional actions may ultimately be taken with respect to tariffs or trade relations between the United States and other countries (including China), what products may be subject to such actions, or what other actions may be taken by the other countries in retaliation, including implementing new or increasing reciprocal tariffs. These actions may change without warning, further exacerbating our inability to anticipate or react to such actions or to accurately forecast the resulting impacts. Changes in export or import regulation and other trade barriers (such as tariffs) and related uncertainties may have an adverse effect on our business, including cost increases for our raw materials or components (some which we have already seen), greater uncertainty and risk in our supply chain, or an inability to accurately forecast our margins.

The adoption and expansion of trade restrictions, the occurrence of a trade war, other governmental action related to tariffs or trade agreements or policies, or the related uncertainties, has the potential to adversely impact our ability to do business outside of the United States as well as to adversely impact demand for our products or our supply chain and costs, which could, in turn, adversely affect our business, operating results, cash flow, or financial condition. In addition, certain of our competitors may be better positioned than us to withstand or react to tariffs or other restrictions on global trade and as a result, we may lose market share to such competitors.

***Our products use raw materials and components that may be subject to price fluctuations, shortages, or interruptions of supply, and if we are unable to maintain supply sources for such raw materials and components, or if such sources fail to satisfy our supply requirements, in particular with regard to semiconductor chips, we may experience a loss of sales, increased component costs, and reduced profitability.***

Factors that are largely beyond our control, such as the imposition of new, or increase of existing, tariffs, cost, quality, and availability of the raw materials and components utilized in the manufacture of our products, may affect the cost of such products, and we may not be able to pass those costs on to our customers. Our products use raw materials and components that may be subject to price fluctuations, shortages, or other disruptions of supply for many reasons outside of our control. In addition, we may be dependent upon a limited number of suppliers for certain components which may be unduly affected by supply chain disruptions. The cost, quality, and availability of these raw materials and components are essential to the successful manufacture and sale of our products. If we are unable to maintain supply sources of these raw materials and components, or if such sources fail to satisfy our supply requirements, we may lose sales and experience increased component costs.

We have developed and implemented strategies in an effort to mitigate the impact of price fluctuations, shortages, or other disruptions of supply, but these strategies, particularly in the event of a trade war or a prolonged inflationary environment, may only offset a portion of the adverse impact. We carry some inventory of critical components and are otherwise working to secure supplies necessary to ensure fulfillment of customer demand, but global shortages could result in our need to secure supplies at higher costs as well as manufacturing delays. Supply interruptions may result in increased component delivery lead times and increased costs to obtain components and as a result, the production of our products may be impacted. If we or our suppliers are unable to obtain components from third parties in the quantities and of the quality that we require, on a timely basis and at acceptable prices, we may not be able to deliver our products on a timely or cost-effective basis to our customers, or it may lead to us delivering products that are of a lower quality that may result in increased repair and replacement costs, which could harm our business and reputation, operating results, cash flow, and financial condition. We have also seen a period of sustained price increases for commodities used in the manufacture of our products that may continue as demand increases, supply remains constrained or trade restrictions are adopted or expanded, which has resulted in, and may continue to result in,

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increased costs for Omnicell and thereby potentially lower profit margins. If the costs of these commodities increase or remain elevated, it could adversely affect our business, operating results, cash flow, or financial condition.

**ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**

**Issuer Purchases of Equity Securities**

The following table summarizes repurchases of our common stock during the three months ended September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Total Number of Shares Purchased** | **Average Price Paid per Share** | **Total Number of Shares Purchased as Part of Publicly Announced Program** | **Approximate Dollar Value of Shares that May Yet be Purchased Under the Program** <sup>(1)</sup> |
| | **(In thousands, except per share data)** | **(In thousands, except per share data)** | **(In thousands, except per share data)** | **(In thousands, except per share data)** |
| July 1, 2025 - July 31, 2025 | 488 | $28.78 | 488 | $48027 |
| August 1, 2025 - August 31, 2025 | 1295 | $31.83 | 1295 | $6804 |
| September 1, 2025 - September 30, 2025 | 204 | $32.47 | 204 | $169 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | 1987 | $31.15 | 1987 | $169 |

---

_________________________________________________

<sup>(1)</sup> On May 22, 2025, our Board of Directors authorized a new stock repurchase program (the "2025 Repurchase Program"), which does not expire, to repurchase up to $75.0 million of common stock. The 2025 Repurchase Program does not obligate the Company to repurchase any specific number of shares, and the Company may terminate or suspend the 2025 Repurchase Program at any time. As of September 30, 2025, the 2025 Repurchase Program was substantially completed.

Refer to "Stock Repurchase Programs" under Note 16, *Employee Benefits and Share-Based Compensation*, of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q for additional information.

**ITEM 3. DEFAULTS UPON SENIOR SECURITIES**

None.

**ITEM 4. MINE SAFETY DISCLOSURES**

Not applicable.

**ITEM 5. OTHER INFORMATION**

**Securities Trading Plans of Directors and Officers**

During the three months ended September 30, 2025, none of our directors or officers adopted or terminated a "Rule 10b5-1 trading arrangement" or adopted or terminated a "non-Rule 10b5-1 trading arrangement" (as each term is defined in Item 408(a) of Regulation S-K).

------

<u>[**Table of Contents**](#id0e0966652484221943f156eafeedac2_7)</u>

**ITEM 6. EXHIBITS**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **Incorporated By Reference** | **Incorporated By Reference** | **Incorporated By Reference** |
| **Exhibit Number** | **Exhibit Description** | **Form** | **Exhibit** | **Filing Date** |
| 3.1 | <u>[Fourth Amended and Restated Bylaws of Omnicell, Inc.](https://www.sec.gov/Archives/edgar/data/926326/000092632625000026/exhibit31-fourthamendedand.htm)</u> | 8-K | 3.1 | 10/6/2025 |
| 10.1\*<sup>+</sup> | <u>[Offer Letter between Omnicell, Inc. and Baird Radford dated August 15, 2025](exhibit101q3-25.htm)</u> |  |  |  |
| 31.1<sup>+</sup> | <u>[Certification of Chief Executive Officer, as required by Rule 13a-14(a) or Rule 15d-14(a)](exhibit311q3-25.htm)</u> |  |  |  |
| 31.2<sup>+</sup> | <u>[Certification of Chief Financial Officer, as required by Rule 13a-14(a) or Rule 15d-14(a)](exhibit312q3-25.htm)</u> |  |  |  |
| 32.1<sup>+</sup> | <u>[Certification of Chief Executive Officer and Chief Financial Officer, as required by Rule 13a-14(b) or Rule 15d-14(b) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. §1350)](exhibit321q3-25.htm)</u> |  |  |  |
| 101.INS<sup>+</sup> | Inline XBRL Instance Document - The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |  |  |  |
| 101.SCH<sup>+</sup> | Inline XBRL Taxonomy Extension Schema Document |  |  |  |
| 101.CAL<sup>+</sup> | Inline XBRL Taxonomy Extension Calculation Linkbase Document |  |  |  |
| 101.DEF<sup>+</sup> | Inline XBRL Taxonomy Extension Definition Linkbase Document |  |  |  |
| 101.LAB<sup>+</sup> | Inline XBRL Taxonomy Extension Labels Linkbase Document |  |  |  |
| 101.PRE<sup>+</sup> | Inline XBRL Taxonomy Extension Presentation Linkbase Document |  |  |  |
| 104<sup>+</sup> | Cover Page Interactive Data File (formatted as inline XBRL with applicable taxonomy extension information contained in Exhibit 101). |  |  |  |

---

_________________________________________________

\*&nbsp;&nbsp;&nbsp;&nbsp;Indicates a management contract, compensation plan, or arrangement.

+<sup>&nbsp;&nbsp;&nbsp;&nbsp;</sup>Filed herewith.

------

<u>[**Table of Contents**](#id0e0966652484221943f156eafeedac2_7)</u>

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | OMNICELL, INC. | OMNICELL, INC. |
| Date: | November 5, 2025 | By: | /s/ H. Baird Radford, III |
|  |  |  | Baird Radford<br>Executive Vice President & Chief Financial Officer <br>(principal financial officer and duly authorized officer) |

---

## Exhibit 10.1

![image_0.jpg](image_0.jpg)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;![image_1.jpg](image_1.jpg)

**Exhibit 10.1**

August 15, 2025

Baird Radford

Dear Baird,

On behalf of Randall Lipps, and Omnicell's Board of Directors, Omnicell, Inc. (the "Company") is pleased to offer you the role of Executive Vice President and Chief Financial Officer (CFO) reporting directly to Randall Lipps as our Chairman, President, CEO and Founder. Your target start date for employment is tentatively planned for August 25, 2025, which we will finalize by mutual agreement upon your acceptance of our offer.

**Compensation & Annual Incentive Opportunity**

Your annual salary will be $525,000 (less applicable taxes and other standard payroll deductions).

You will also be eligible to receive a discretionary bonus under Omnicell's Executive Bonus Plan (amended and restated May 2025) (the "Bonus Plan"), where your Bonus Target will be 90% of your annual base salary (or $472,500 annually), where your actual payout "earned" will be between 0% to 200% of your Bonus Target annually, and will be determined based on your individual and company performance. For purposes of the 2025 performance year, any actual payout earned will be prorated, such proration determined by dividing the number of days you were employed by the Company during the performance year by the full number of days in the performance year. The bonus will be paid as soon as administratively practical, following Board approval in the first quarter following the close of the annual performance cycle.

**One-Time Sign-on Award (LTI)**

Upon joining Omnicell, you will be awarded a one-time, New Hire LTI Equity Award of $1,000,000 that will be delivered to you in the form of Omnicell Restricted Stock Units (or RSUs) that will be granted to you under the Company's 2009 Equity Incentive Plan, as amended (the "Plan") subject to approval by the Company's Compensation Committee (the "Committee"). So long as you join Omnicell on or before MONTH XX, 2025, your New Hire LTI Equity Award will be granted to you on November 15, 2025 (the "Grant Date"), upon approval by the Committee at their next [regularly scheduled] meeting.

------

Omnicell Employment Offer for Baird Radford

&nbsp;&nbsp;&nbsp;&nbsp;

Once granted, 25% of your RSUs will vest on November 15, 2026 (following the one-year anniversary of your Grant Date). The remaining 75% of your RSUs will vest in equal amounts over the subsequent 12 quarters (on each of November 15, February 15, May 15, and August 15 respectively) over the remaining 3 years.

**Annual LTI Awards (50% Restricted Stock Units & 50% Performance Stock Units)**

Also, so long as you join Omnicell on or before August 31, 2025, you will be eligible to participate in Omnicell's discretionary Annual LTI Equity Award program in effect for 2026. Your target Annual LTI Equity Award in the amount of $2,300,000 for 2026 will be delivered to you in the form of: (a) 50% Omnicell Restricted Stock Units (or RSUs), and (b) 50% Omnicell Performance Stock Units (or PSUs), where each award will be granted to you under the Company's 2009 Equity Incentive Plan, as amended (the "Plan") subject to approval by the Committee. Your 2026 Annual LTI Equity Award(s) will be granted to you on such date as the Annual LTI Awards are granted to the Company's other executive officers (the "Annual LTI Grant Date"), upon approval by the Committee during the Committee meeting scheduled in February 2026.

Regarding your 2026 Annual LTI Equity Award to be delivered in the form of RSUs, once granted, your award will vest in equal thirds, following the one-year anniversary of the Annual LTI Grant Date, over a subsequent three-year period.

Regarding your 2026 Annual LTI Equity Award to be delivered in the form of PSUs (your "Target PSU Award") where you have an opportunity to "earn" between 0% to 200% of your Target PSU Award depending upon Omnicell's results against the PSU performance metric (typically Omnicell's Relative TSR percentile ranking performance vs. the **S&P 1000 Healthcare Index** measured over a three-year period, or such other indices and performance period) to be approved by the Committee. Once the 2026 PSU performance achieved is determined by the Committee, 100% of your PSUs "earned" will vest on your third anniversary vesting date (typically following the three-year anniversary of your Annual LTI Grant Date, as determined by the Committee).

Please note that any Omnicell LTI Equity Award and its associated vesting is subject to your continued employment with the Company, the terms and conditions of the Plan, your underlying grant notices and Omnicell's standard form of RSU/PSU Award Agreement for similarly situated employees of Omnicell.

**General & Executive Benefit Programs**

We offer competitive medical, dental and vision plans as well as term life, long- and short-term disability insurance coverage, and 401(k) plan. Details about these benefit programs are provided in our Employee Handbook and Summary Plan Descriptions. Omnicell reserves the right to

**Omnicell, Inc. – 4220 North Freeway, Fort Worth, TX 76137**

------

Omnicell Employment Offer for Baird Radford

&nbsp;&nbsp;&nbsp;&nbsp;

change, modify or discontinue our compensation and benefit programs from time to time at its discretion, with or without notice.

As an Executive Officer of the Company, you will also be eligible to participate in the following Executive Benefit Programs: (1) a comprehensive Annual Executive Financial Planning program provided through AYCO, (2) a comprehensive Annual Executive Physical Program to be provided through a Medical Network of your choice, where the cost incurred will be reimbursed up to $6,000 per year, and (3) reimbursement for your legal fees incurred from the preparation of your various wills, trust and estate documents to be reimbursed up to $6,000 once every three years.

You are also eligible to participate in Omnicell's Executive Severance Plan (amended and restated May 2025) (the "Executive Severance Plan") which provides certain benefits in the event of your involuntary termination without "Cause." As an Executive Vice President , under the current plan you will be eligible to receive a one-time cash payment equal to 1.0 times your annual base salary in effect immediately prior to termination plus 1.0 times your target annual cash incentive bonus under the Bonus Plan in effect immediately prior to termination as your cash severance benefit, plus a COBRA premium subsidy for 12 months, a prorated payout of any bonus earned for the performance year in which your termination occurs, based on actual performance achieved by the Company only (and assumes that all individual annual executive goals assigned to you have been achieved), further subject to, and paid out in accordance with the terms, conditions, and requirements of the Bonus Plan (excluding the requirement that you be employed by the Company on the last day of the performance year), and executive level outplacement services to be provided for a period of one year, where such benefits are subject to the terms and conditions of the Executive Severance Plan. Furthermore, under the Executive Severance Plan you will also be eligible for change of control severance benefits as set forth in the Executive Severance Plan.

You are also eligible to receive Executive Officer Indemnity Protection under the terms of Omnicell's Indemnity Agreement, which will be provided to you separately.

**Employment Terms & Conditions**

As an Executive Vice President you will be an "Exempt" employee eligible to take reasonable time off with pay under the Company's flexible vacation policy. Generally, you will have no set guideline as to how much time off you will be permitted to take. However, with flexible vacation, there is no "unused" vacation time that will be carried over from one year to the next or be paid out upon termination.

Employment at Omnicell is at-will employment, which means it may be terminated by you or by Omnicell at any time without liability and is acknowledged by you upon signing this offer letter. In addition, Omnicell may transition your position, duties, compensation, benefits, and work

**Omnicell, Inc. – 4220 North Freeway, Fort Worth, TX 76137**

------

Omnicell Employment Offer for Baird Radford

&nbsp;&nbsp;&nbsp;&nbsp;

location from time to time at its discretion depending upon the growth needs and strategic direction of the Company.

This offer is contingent upon the successful completion of the background check, Director and Officer Questionnaire acceptable to the Company and conflict and background checks of the independent registered public accounting firm of the Company acceptable to the Company, even where a start date of employment has been determined. Certain positions include a credit check as part of the background screening process. This offer also remains contingent upon the approval of the Company's Compensation Committee. Please keep in mind the contingent nature of this offer when making any decisions regarding the timing of any notice of termination of any employment and/or other relationship, as applicable.

As a condition of employment and required by law, you must show proof of citizenship, permanent residency in the United States or authorization to work in the United States. To complete the federally required verification form (I-9), we ask that you be prepared to provide your original document(s) within your first three days of employment. If you are not office based, you will be contacted via email regarding completion of your I-9. Documents may include a US Passport, birth certificate, Social Security Card, driver's license, or Alien Registration Receipt Card.

As an Omnicell employee, you will be expected to abide by company policies and procedures and acknowledge in writing that you have read and will comply with the company's Employee Handbook. As a condition of employment, you must read, sign, and comply with the Employee Proprietary Information and Inventions Agreement which prohibits unauthorized use or disclosure of Company proprietary information.

In addition, as part of your duties for Omnicell, you may be assigned to work onsite with an Omnicell customer or otherwise to provide services to or interact with an Omnicell customer. Some of these customers have additional requirements that they impose upon individuals who work onsite at their facilities or who have access to patient health information, including, but not limited to, drug-testing, testing for various infectious diseases, attestation of various vaccinations and/or additional background/screening checks. If you are assigned to work with such a customer, you will be given notice of the customer's additional requirements and will be expected to fulfill these requirements as a condition of your continuing employment with Omnicell.

If you have any questions, please call me. Please note the above offer is good for a period of five (5) business days from the date of issue.

\*&nbsp;&nbsp;&nbsp;&nbsp;\*&nbsp;&nbsp;&nbsp;&nbsp;\*&nbsp;&nbsp;&nbsp;&nbsp;\*&nbsp;&nbsp;&nbsp;&nbsp;\*&nbsp;&nbsp;&nbsp;&nbsp;\*&nbsp;&nbsp;&nbsp;&nbsp;\*&nbsp;&nbsp;&nbsp;&nbsp;\* &nbsp;&nbsp;&nbsp;&nbsp;\*&nbsp;&nbsp;&nbsp;&nbsp;\*&nbsp;&nbsp;&nbsp;&nbsp;\*

Again, we are very pleased to confirm your offer of employment to join Omnicell. We look forward to working with you in this exciting stage of our company's development. We believe you will make significant contributions to Omnicell's future success.

**Omnicell, Inc. – 4220 North Freeway, Fort Worth, TX 76137**

------

Omnicell Employment Offer for Baird Radford

&nbsp;&nbsp;&nbsp;&nbsp;

Sincerely,

/s/ Corey J. Manley

**Corey J. Manley**

EVP, Chief Legal and Administrative Officer

Omnicell, Inc.

**Omnicell, Inc. – 4220 North Freeway, Fort Worth, TX 76137**

------

Omnicell Employment Offer for Baird Radford

&nbsp;&nbsp;&nbsp;&nbsp;

To indicate your acceptance of the company's offer, please e-sign and date this letter. You may keep the original copy of this letter. This letter, along with the Employee Proprietary Information and Inventions Agreement, Policy Against Trading on the Basis of Inside Information and the Code of Ethics between you and the Company, Omnicell, set forth the terms of your employment with Omnicell and supersede any prior representations or agreements, whether written or oral. The documents listed above will be sent electronically through our onboarding system for your review. Should you want hard copies prior to signing your offer letter please let us know. This letter may not be modified or amended except by a written agreement, signed by Omnicell and by you. The above offer is good for a period of five (5) business days from the date of issue.

I have read understood and agree to the terms and conditions of Omnicell's employment offer:

<u>/s/ H. Baird Radford, III&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>8/16/25&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>

Baird Radford

Date:

**Omnicell, Inc. – 4220 North Freeway, Fort Worth, TX 76137**

## Exhibit 31.1

**Exhibit 31.1**

**CERTIFICATION**

I, Randall A. Lipps, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this quarterly report on Form 10-Q of Omnicell, Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4.The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5.The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| November 5, 2025 | /s/ Randall A. Lipps |
|  | Randall A. Lipps |
|  | President and Chief Executive Officer |
| | (Principal Executive Officer) |

---

## Exhibit 31.2

**Exhibit 31.2**

**CERTIFICATION**

I, Baird Radford, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this quarterly report on Form 10-Q of Omnicell, Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4.The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5.The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| November 5, 2025 | /s/ H. Baird Radford, III |
| | Baird Radford |
|  | Executive Vice President & Chief Financial Officer |
| | (Principal Financial Officer) |

---

## Exhibit 32.1

**Exhibit 32.1**

**CERTIFICATION**

Pursuant to the requirement set forth in Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. §1350), Randall A. Lipps, the President and Chief Executive Officer of Omnicell, Inc. (the "Company"), and Baird Radford, the Executive Vice President & Chief Financial Officer of the Company, each hereby certifies that, to the best of his knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;1.The Company's Quarterly Report on Form 10-Q for the period ended September 30, 2025 (the "Quarterly Report"), to which this Certification is attached as Exhibit 32.1, fully complies with the requirements of Section 13(a) or Section 15(d) of the Exchange Act; and

&nbsp;&nbsp;&nbsp;&nbsp;2.The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

In witness whereof, the undersigned have set their hands hereto as of the 5th day of November, 2025.

---

| | |
|:---|:---|
| /s/ Randall A. Lipps | /s/ H. Baird Radford, III |
| Randall A. Lipps | Baird Radford |
| President and Chief Executive Officer | Executive Vice President & Chief Financial Officer |
| (Principal Executive Officer) | (Principal Financial Officer) |

---

"This certification accompanies the Form 10-Q to which it relates, is not deemed filed with the Securities and Exchange Commission and is not to be incorporated by reference into any filing of Omnicell, Inc. under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended (whether made before or after the date of the Form 10-Q), irrespective of any general incorporation language contained in such filing."

<br>