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Omnicell
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Updated Nov 4, 2026
Omnicell Q3 2026: Gross margin expands 200bps to 45% as service cost discipline offsets product revenue decline and tariff headwinds persist under new Section 301 regime
Omnicell's Q3 2026 gross margin reached 45% — up from 43% in Q3 2025 — driven by a $7.6 million reduction in service cost of revenues as prior-year software upgrade charges did not recur, even as product revenues declined $4.4 million on lower XTExtend volumes and semiconductor chip costs increased. Total Q3 2026 revenues were $307.9 million versus $310.6 million in Q3 2025, while the nine-month period showed stronger momentum at $929.9 million versus $870.9 million. The structural story is Omnicell's deliberate pivot toward flexible payment models — leasing, subscriptions, and as-a-service structures — in response to the $910 billion Medicaid reduction under the One Big Beautiful Bill Act, which management frames as an accelerant for pharmacy automation adoption rather than a demand headwind.
Tone: mixedRevenue
$1.2B
OMCL 10-K · FY 2025
Employees
3,580
Revenue FY2024
$1.1B
Founded
1992
Profile
OMCL 10-K Item 1 · Feb 26, 2026Omnicell is a healthcare technology company focused on autonomous medication management, providing dispensing automation, robotics, and software intelligence solutions across hospital, outpatient, and retail pharmacy settings. The company serves health systems, institutional pharmacies, and retail pharmacies with products spanning point-of-care dispensing, central pharmacy automation, IV compounding, specialty pharmacy services, and patient engagement. Its strategic vision centers on the 'Autonomous Pharmacy,' an industry-defined framework targeting zero-error medication management.
Read filing description ↓ Collapse description ↑
Omnicell, a leading healthcare technology provider focused on empowering autonomous medication management, 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 storage and dispensing automation powered by an intelligence ecosystem. Our 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 alongside 5 other outcomes laid out in the Autonomous Pharmacy framework. 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 hardware, software, and consumable solutions together with related service offerings. Revenues generated in the United States represented 90% of our total revenues for the year ended December 31, 2025. 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.
Primary products
- Titan XT Automated Dispensing System
- XT Series Automated Dispensing Systems
- XTExtend
- OmniSphere (cloud-native software and intelligence ecosystem)
- Central Pharmacy Dispensing Service
- Central Med Automation Service
Business segments
End markets
Geographies
Named customers
During our fiscal year ended December 31, 2025, sales to members of the ten largest GPOs and federal agencies that purchase under the GSA Contract collectively accounted for approximately 61% of our total consolidated revenues.
“We believe our industry-leading medication management infrastructure products and services compare favorably with the offerings of our competitors, particularly with respect to the medication management outcomes that we have helped enable our customers to achieve across the continuum of care, from inpatient to outpatient, in each setting of care where medications are managed.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues increased from $1.11 billion in fiscal 2024 to $1.18 billion in fiscal 2025, driven by growth in both product revenues and service revenues.
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