Omnicell, Inc.

Stand by, we're about to begin. Good afternoon, ladies and gentlemen, and welcome to the Omnicale first quarter 2022 earnings conference call. At this time, all participants are in a listen-only mode, and please be advised that this call is being recorded. After the speaker's prepared remarks, there will be a question and answer session. If you would like to ask a question during this time, just press star 1 on your telephone keypad. If you call over to Ms. Kathleen Nemeth, Senior Vice President, Investor Relations.

Kathleen Nemeth Good afternoon and welcome to the OmniCell First Quarter Financial Results Conference Call. On the call with me today are Randall Lipps, OmniCell Chairman, President, CEO and Founder, Scott Seidelman, Executive Vice President and Chief Commercial Officer, and Peter Kuypers, Executive Vice President and Chief Financial Officer. This call will contain forward-looking statements, including statements related to financial projections or other statements regarding AMISO's plans, objectives, expectations, targets, or outlook that are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. For a more detailed description of the risks that impact these forward-looking statements, please refer to the information in our press release issued today in the OmniCell Annual Report on Form 10-K filed with the SEC on February 25, 2022, and in other more recent reports filed with the SEC. Please be aware that you should not place undue reliance on any forward-looking statements made today. Our results were released this afternoon and are posted in the Investor Relations section of our website at ir.omnicel.com. Additionally, we'd like to remind you that during this call we will discuss some non-GAAP financial measures. Reconciliation of these non-GAAP measures to the most comparable GAAP financial measures are included in our financial results press release. With respect to forward-looking non-GAAP measures, such as guidance and targets, We do not provide a reconciliation of forward-looking non-GAAP measures to the comparable GAAP measures on a forward-looking basis that these items are inherently uncertain and difficult to estimate and cannot be predicted without unreasonable effort. I will now turn the call over to Randall.

Thank you, Kathleen, and good afternoon, and thank you for joining us today. We've had a solid start to 2022. despite headwinds due to inflationary pressure and geopolitical unrest. We continue to work to advance the industry vision of the autonomous pharmacy with our focus on creating a single cloud-based platform that is designed to enable SAS and tech-enabled pharmacy operations. Our comprehensive medication management solutions which we believe are transforming the pharmacy care delivery model, continue to resonate strongly with our health system partners and retail customers. We saw continued strong customer demand this quarter for our central pharmacy dispensing services and OmniCell One SaaS platform. It is clear to us that our customers recognize the pressing need to modernize and expand their medication management capabilities, and our strategy is generating results. We delivered strong first quarter results and continued to build on our momentum from last year. Overall, we exceeded our first quarter 2022 guidance ranges for total revenues, non-GAAP EBITDA, and non-GAAP EPS. Our first quarter results include total revenues of 319 million, non-GAAP EBITDA of 50 million, and non-GAAP earnings per share of 83 cents. I'd also like to highlight that last month we launched a new generation of our IV compounding robot, IVX, that will power our IV compounding service an innovative solution designed to scale the benefits of IV robotic technology and make it accessible to the broader market. We find that compounding is an extremely labor-intensive area of medication management, and we believe the IVX station provides a differentiated approach to enable IV compounding at scale by reducing errors associated with manual processes and reducing the high cost of outsourcing. Labor constraints, as well as the higher cost of labor, continue to be a challenge for healthcare systems and retail customers. And modernized medication management processes. Other products and solutions, we're able to assist our customers to address the staff shortages.