Quarterly revenue rose from $269.7M in 2025Q1 to $307.9M in 2026Q3 while gross margin oscillated between 41.1% and 49.0%, and operating margin remained weak at 4.9% in the latest quarter, suggesting limited operating leverage.
Omnicell, Inc. (OMCL) annual income statement — 26-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 |
|---|
| Sales/Revenue | 1.24B | 1.18B | 1.11B | 1.15B | 1.3B | 1.13B | 892.21M | 897.03M | 787.31M | 716.16M | 692.62M | 484.56M | 440.9M | 380.58M | 314.03M | 245.53M | 222.41M | 213.46M | 251.87M | 213.08M | 154.71M | 121.52M | 123.94M | 102.13M | 87.69M | 86.9M | 67.36M |
| Revenue Growth % | 5.62% | 6.53% | -3.04% | -11.48% | 14.48% | 26.88% | -0.54% | 13.94% | 9.93% | 3.4% | 42.94% | 9.9% | 15.85% | 21.2% | 27.89% | 10.4% | 4.19% | -15.25% | 18.2% | 37.73% | 27.31% | -1.95% | 21.36% | 16.46% | 0.91% | 29% | - |
| Cost of Goods Sold | 682.47M | 676.8M | 641.24M | 647.18M | 706.96M | 577.37M | 478.92M | 460.12M | 414.98M | 394.08M | 378.82M | 236.63M | 207.04M | 177.19M | 143.47M | 109.75M | 104.49M | 108.24M | 123.23M | 99.77M | 69.19M | 54.51M | 52.03M | 42.46M | 36.42M | 32.77M | 26.58M |
| COGS % of Revenue | - | 57.12% | 57.65% | 56.42% | 54.55% | 51% | 53.68% | 51.29% | 52.71% | 55.03% | 54.69% | 48.83% | 46.96% | 46.56% | 45.69% | 44.7% | 46.98% | 50.71% | 48.93% | 46.82% | 44.72% | 44.86% | 41.98% | 41.58% | 41.53% | 37.71% | 39.45% |
| Gross Profit | 561.45M | 508.04M | 471M | 499.93M | 588.99M | 554.65M | 413.29M | 436.91M | 372.33M | 322.09M | 313.8M | 247.93M | 233.86M | 203.4M | 170.55M | 135.78M | 117.92M | 105.22M | 128.63M | 113.31M | 85.52M | 67.01M | 71.91M | 59.67M | 51.27M | 54.13M | 40.79M |
| Gross Margin % | 45.14% | 42.88% | 42.35% | 43.58% | 45.45% | 49% | 46.32% | 48.71% | 47.29% | 44.97% | 45.31% | 51.17% | 53.04% | 53.44% | 54.31% | 55.3% | 53.02% | 49.29% | 51.07% | 53.18% | 55.28% | 55.14% | 58.02% | 58.42% | 58.47% | 62.29% | 60.55% |
| Gross Profit Growth % | - | 7.86% | -5.79% | -15.12% | 6.19% | 34.2% | -5.41% | 17.35% | 15.6% | 2.64% | 26.57% | 6.02% | 14.98% | 19.26% | 25.61% | 15.15% | 12.07% | -18.2% | 13.53% | 32.49% | 27.62% | -6.81% | 20.51% | 16.37% | -5.29% | 32.72% | - |
| Operating Expenses | 495.8M | 496.38M | 470.67M | 519.26M | 591.31M | 465.15M | 377.77M | 358.56M | 327.94M | 316.33M | 307.32M | 202.74M | 184.28M | 168.1M | 143.47M | 119.56M | 107.23M | 103.24M | 111.29M | 95.08M | 76.27M | 69.31M | 61.19M | 51.73M | 54.74M | 54.71M | 57.41M |
| OpEx % of Revenue | - | 41.89% | 42.32% | 45.27% | 45.63% | 41.09% | 42.34% | 39.97% | 41.65% | 44.17% | 44.37% | 41.84% | 41.8% | 44.17% | 45.69% | 48.69% | 48.22% | 48.36% | 44.19% | 44.62% | 49.3% | 57.04% | 49.37% | 50.65% | 62.42% | 62.96% | 85.23% |
| Selling, General & Admin | 409.08M | 408.64M | 380.25M | 425.97M | 486.34M | 389.43M | 307.61M | 289.92M | 263.1M | 250.31M | 249.52M | 167.58M | 156.47M | 139M | 119.75M | 97.52M | 86.23M | 85.67M | 93.1M | 80.03M | 65.04M | 59.7M | 52.08M | 42.78M | 44.77M | 43.68M | 46.14M |
| SG&A % of Revenue | - | 34.49% | 34.19% | 37.13% | 37.53% | 34.4% | 34.48% | 32.32% | 33.42% | 34.95% | 36.03% | 34.58% | 35.49% | 36.52% | 38.13% | 39.72% | 38.77% | 40.13% | 36.96% | 37.56% | 42.04% | 49.13% | 42.02% | 41.89% | 51.05% | 50.27% | 68.49% |
| Research & Development | 86.72M | 87.73M | 90.41M | 93.29M | 104.97M | 75.72M | 70.16M | 68.64M | 64.84M | 66.02M | 57.8M | 35.16M | 27.8M | 29.11M | 23.73M | 22.04M | 21.01M | 17.57M | 18.2M | 15.05M | 11.22M | 9.61M | 9.11M | 8.95M | 9.97M | 11.03M | 11.27M |
| R&D % of Revenue | - | 7.4% | 8.13% | 8.13% | 8.1% | 6.69% | 7.86% | 7.65% | 8.24% | 9.22% | 8.34% | 7.26% | 6.31% | 7.65% | 7.56% | 8.98% | 9.45% | 8.23% | 7.22% | 7.06% | 7.25% | 7.91% | 7.35% | 8.76% | 11.37% | 12.69% | 16.73% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -178K | -99K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 65.65M | 11.66M | 337K | -19.33M | -2.32M | 89.51M | 35.53M | 78.35M | 44.39M | 5.75M | 6.48M | 48.63M | 49.58M | 35.3M | 27.08M | 16.22M | 9.53M | 669K | 17.34M | 18.22M | 9.26M | -2.71M | 10.55M | 6.98M | -5.9M | -430K | -19.53M |
| Operating Margin % | 5.28% | 0.98% | 0.03% | -1.69% | -0.18% | 7.91% | 3.98% | 8.73% | 5.64% | 0.8% | 0.94% | 10.04% | 11.25% | 9.27% | 8.62% | 6.61% | 4.28% | 0.31% | 6.88% | 8.55% | 5.98% | -2.23% | 8.51% | 6.84% | -6.73% | -0.49% | -29% |
| Operating Income Growth % | - | 3361.42% | 101.74% | -732.07% | -102.6% | 151.95% | -54.66% | 76.5% | 671.5% | -11.22% | -86.67% | -1.92% | 40.47% | 30.34% | 66.95% | 70.29% | 1323.92% | -96.14% | -4.85% | 96.89% | 442.18% | -125.65% | 51.02% | 218.31% | -1272.79% | 97.8% | - |
| EBITDA | 147.08M | 98.3M | 90.09M | 76.23M | 96.85M | 174.44M | 107.12M | 142.47M | 95.74M | 57.27M | 64.84M | 74.27M | 69.86M | 53.66M | 40.41M | 24.2M | 18.14M | 10.1M | 26.29M | 22.83M | 12.97M | 1.49M | 14.63M | 10.49M | -2.88M | 3.29M | -15.88M |
| EBITDA Margin % | 11.82% | 8.3% | 8.1% | 6.65% | 7.47% | 15.41% | 12.01% | 15.88% | 12.16% | 8% | 9.36% | 15.33% | 15.84% | 14.1% | 12.87% | 9.86% | 8.16% | 4.73% | 10.44% | 10.71% | 8.39% | 1.23% | 11.81% | 10.27% | -3.29% | 3.79% | -23.57% |
| EBITDA Growth % | 39.32% | 9.11% | 18.19% | -21.29% | -44.48% | 62.84% | -24.81% | 48.81% | 67.19% | -11.69% | -12.69% | 6.32% | 30.17% | 32.81% | 66.94% | 33.4% | 79.71% | -61.6% | 15.19% | 75.95% | 768.34% | -89.79% | 39.51% | 464.04% | -187.49% | 120.74% | - |
| D&A (Non-Cash Add-back) | 81.44M | 86.63M | 89.75M | 95.56M | 99.17M | 84.93M | 71.59M | 64.12M | 51.35M | 51.51M | 58.36M | 25.64M | 20.27M | 18.36M | 13.32M | 7.98M | 8.62M | 9.43M | 8.95M | 4.6M | 3.72M | 4.2M | 4.08M | 3.5M | 3.02M | 3.72M | 3.65M |
| EBIT | 68.73M | 15.23M | 30.12M | -15.58M | -2.32M | 88.4M | 35.53M | 78.35M | 44.39M | 11.14M | 21.41M | 45.19M | 49.58M | 35.3M | 27.13M | 16.15M | 9.96M | 1.21M | 20.74M | 18.22M | 9.26M | -2.3M | 10.72M | 7.94M | -3.46M | -580K | -16.63M |
| Net Interest Income | -758K | 7.99M | 20.38M | 14.76M | -130K | -22.39M | -2.1M | -5.8M | 0 | 0 | 0 | -2.39M | -1.08M | -270K | -51K | 204K | 420K | 604K | 3.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 2.9M | 11.9M | 24.9M | 14.76M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30K | 77K | 266K | 424K | 619K | 3.42M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 3.66M | 3.91M | 4.53M | 0 | 130K | 22.39M | 2.1M | 5.8M | 0 | 0 | 0 | 2.39M | 1.08M | 122K | 29K | 62K | 4K | 15K | 15K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 1.59M | -340K | 25.26M | -779K | -130K | -23.5M | -6.18M | -4.42M | -8.78M | -6.63M | -8.43M | -2.39M | -1.08M | -270K | -51K | -133K | 431K | 523K | 3.38M | 6.05M | 1.91M | 651K | 379K | 565K | 875K | -577K | -1.16M |
| Pretax Income | 67.24M | 11.32M | 25.59M | -20.11M | -2.45M | 66.01M | 29.35M | 73.93M | 35.62M | -879K | -1.95M | 46.24M | 48.5M | 35.03M | 27.03M | 16.09M | 9.96M | 1.19M | 20.72M | 24.28M | 11.17M | -2.05M | 10.93M | 7.55M | -5.03M | -1.01M | -20.69M |
| Pretax Margin % | 5.41% | 0.96% | 2.3% | -1.75% | -0.19% | 5.83% | 3.29% | 8.24% | 4.52% | -0.12% | -0.28% | 9.54% | 11% | 9.2% | 8.61% | 6.55% | 4.48% | 0.56% | 8.23% | 11.39% | 7.22% | -1.69% | 8.82% | 7.39% | -5.73% | -1.16% | -30.71% |
| Income Tax | 22.58M | 9.27M | 13.06M | 263K | -8.1M | -11.84M | -2.85M | 12.6M | -2.11M | -21.48M | -2.55M | 15.48M | 17.99M | 11.05M | 10.87M | 5.7M | 5.07M | 748K | 8M | -19.02M | 804K | 20K | 324K | 242K | 10K | 160K | 100K |
| Effective Tax Rate % | 33.57% | 81.88% | 51.04% | -1.31% | 330.25% | -17.94% | -9.69% | 17.04% | -5.93% | 2444.14% | 130.95% | 33.48% | 37.08% | 31.55% | 40.22% | 35.43% | 50.87% | 62.75% | 38.6% | -78.34% | 7.2% | -0.97% | 2.97% | 3.21% | -0.2% | -15.89% | -0.48% |
| Net Income | 44.67M | 2.05M | 12.53M | -20.37M | 5.65M | 77.85M | 32.19M | 61.34M | 37.73M | 20.61M | 603K | 30.76M | 30.52M | 23.98M | 16.16M | 10.39M | 4.89M | 444K | 12.72M | 43.3M | 10.37M | -2.07M | 10.6M | 7.31M | -5.04M | -1.17M | -20.79M |
| Net Margin % | 3.59% | 0.17% | 1.13% | -1.78% | 0.44% | 6.88% | 3.61% | 6.84% | 4.79% | 2.88% | 0.09% | 6.35% | 6.92% | 6.3% | 5.15% | 4.23% | 2.2% | 0.21% | 5.05% | 20.32% | 6.7% | -1.71% | 8.55% | 7.15% | -5.75% | -1.34% | -30.86% |
| Net Income Growth % | 124.22% | -83.62% | 161.51% | -460.68% | -92.74% | 141.81% | -47.51% | 62.58% | 83.11% | 3317.08% | -98.04% | 0.79% | 27.27% | 48.38% | 55.56% | 112.37% | 1001.8% | -96.51% | -70.61% | 317.7% | 599.76% | -119.56% | 45.09% | 245.04% | -331.71% | 94.39% | - |
| Net Income (Continuing) | 44.66M | 2.05M | 12.53M | -20.37M | 5.65M | 77.85M | 32.19M | 61.34M | 37.73M | 30.52M | 603K | 30.76M | 30.52M | 23.98M | 16.18M | 10.39M | 4.89M | 444K | 12.72M | 43.3M | 10.37M | -2.07M | 10.6M | 7.31M | -5.04M | -1.17M | -20.79M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.96 | 0.04 | 0.27 | -0.45 | 0.12 | 1.62 | 0.74 | 1.43 | 0.93 | 0.79 | 0.26 | 0.84 | 0.83 | 0.67 | 0.47 | 0.30 | 0.15 | 0.01 | 0.38 | 1.28 | 0.36 | -0.08 | 0.38 | 0.29 | -0.23 | -0.11 | -12.20 |
| EPS Growth % | 124.4% | -83.59% | 160% | -475% | -92.59% | 118.92% | -48.25% | 53.76% | 17.72% | 203.85% | -69.05% | 1.2% | 23.88% | 42.55% | 56.67% | 100% | 1400% | -97.37% | -70.31% | 255.56% | 549.44% | -121.08% | 31.03% | 226.09% | -109.09% | 99.1% | - |
| EPS (Basic) | - | 0.04 | 0.27 | -0.45 | 0.13 | 1.79 | 0.76 | 1.48 | 0.96 | 0.81 | 0.27 | 0.86 | 0.86 | 0.69 | 0.49 | 0.31 | 0.15 | 0.01 | 0.40 | 1.35 | 0.38 | -0.08 | 0.43 | 0.32 | -0.23 | -0.11 | -12.20 |
| Diluted Shares Outstanding | 46.47M | 46.36M | 46.26M | 45.21M | 45.89M | 47.94M | 43.74M | 42.94M | 40.56M | 38.71M | 36.86M | 36.72M | 36.62M | 35.78M | 34.21M | 34.1M | 33.51M | 32.06M | 33.11M | 33.82M | 28.9M | 25.91M | 27.72M | 25.32M | 21.73M | 10.31M | 1.7M |
| Basic Shares Outstanding | 45.89M | 45.97M | 46.05M | 45.21M | 44.4M | 43.48M | 42.58M | 41.46M | 39.24M | 37.48M | 36.16M | 35.86M | 35.65M | 34.74M | 33.31M | 33.12M | 32.65M | 31.69M | 32.08M | 32.08M | 27.34M | 25.91M | 24.85M | 22.75M | 21.73M | 10.31M | 1.7M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying OMCL stock.
For fiscal year 2025, Omnicell, Inc. (OMCL) reported total revenue of $1.18B. This represents a 1658.8% increase compared to $67.4M in 2000.
Omnicell, Inc. (OMCL) is profitable, generating $2.1M in net income for the fiscal year ending 2025 with a net profit margin of 0.2%.
Omnicell, Inc. (OMCL) reported an operating income of $11.7M, resulting in an operating profit margin of 1.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Omnicell, Inc. (OMCL) generated $508.0M in gross profit for the year, representing a gross profit margin of 42.9%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Thin margins amid investment
Metrics are mathematically derived from official filings.
Revenue Growth Stabilizing Near Three Hundred Million
Based on Omnicell's reported figures, quarterly revenue moved from $269.7M in 2025Q1 to $307.9M in 2026Q3, with year-over-year growth of 14.9% in 2026Q1 but a -0.9% decline in the latest quarter, suggesting growth has plateaued after a strong recovery.
The rebound from the 2025Q1 trough appears driven by a combination of hardware recovery and subscription revenue, though the quarterly figures have clustered tightly between $308M and $314M since late 2025. This flattening suggests the top line may be maturing within the current hospital capital expenditure cycle, and investors should monitor whether the recurring service mix can sustain growth without new unit placements.
Gross Margin Recovery Remains Volatile
According to reported financials, Omnicell's gross margin ranged from 41.1% to 49.0% over the ten quarters, with the latest quarter at 44.8%, indicating meaningful sensitivity to product mix and component costs rather than a steadily expanding structural advantage.
The swing between the 41.5% trough in 2025Q4 and the 49.0% peak in 2026Q2 points to lumpy hardware and service recognition timing rather than consistent pricing power. The current 44.8% level sits above the 2024 range but below the peak, which may indicate that the subscription transition is not yet offsetting hardware cost inflation. Investors should watch whether gross margin can hold above 45% as the revenue mix shifts.
Operating Leverage Largely Absorbed by Overhead
Based on Omnicell's reported figures, SG&A consumed roughly 32% to 36% of revenue in recent quarters, leaving TTM operating margin near 1.0%, which suggests overhead and R&D spending are absorbing nearly all incremental gross profit.
SG&A stayed near $100M per quarter even as revenue rose from $269.7M to $310M, meaning incremental revenue did not translate into proportionate operating income. Operating income in 2026Q2 reached $32.4M, but this appears to be an outlier against a generally narrow range of $1M to $17M. Management's efficiency gains are not yet visible in a consistent operating margin expansion.
Net Income Swings Outpace Operating Trend
As reported in financial statements, Omnicell's net income moved from a $7.0M loss in 2025Q1 to a $24.3M profit in 2026Q2, with quarterly EPS ranging from -$0.15 to $0.52, indicating net results are highly sensitive to non-operating and tax-related items.
The gap between operating income and net income in several quarters, such as 2024Q4 where net income exceeded operating income, suggests non-operating gains or tax benefits contributed materially to reported earnings. Stock-based compensation remains between $9M and $12M per quarter, a non-trivial cost that narrows true operating profitability. Investors should scrutinize whether the 2026Q2 earnings spike reflects repeatable performance or one-time items.
Cost Base Dominated by Fixed Overhead
Based on Omnicell's reported figures, COGS represented about 55% to 59% of revenue while SG&A held near $100M quarterly, and R&D stayed between $20M and $26M, indicating a cost structure weighted toward fixed operating expense.
The steady SG&A level despite revenue variability suggests limited flexibility to reduce costs in softer quarters. R&D spending appears consistently maintained, consistent with ongoing investment in cloud and automation platforms. This cost profile may keep operating margins compressed unless revenue growth resumes at a faster pace than overhead.
Thin Margins Leave Little Room for Error
Based on reported figures, a TTM net margin of roughly 0.2% and operating margin of 1.0% imply that a modest revenue shortfall or cost overrun could eliminate recent earnings, even after a Q3 EPS beat against consensus.
The bull case rests on the Q3 EPS beat and raised guidance, but the underlying margin profile remains close to breakeven, and the recent beat appears to depend on items whose repeatability is not disclosed in the supplied data. Guidance of $295M to $301M revenue sits below the most recent quarterly run-rate, which may reflect conservatism or expected seasonality and warrants further investigation. Persistent hospital budget pressure could delay XT Series replacement cycles and compress the already narrow margin further.