Omnicell Inc. (OMCL) shares plummeted 5.39% in pre-market trading on Thursday, following the company's mixed fourth quarter 2024 results reported after the market close on Wednesday.
For the quarter ended December 31, 2024, the medication management solutions provider posted earnings of $0.34 per share, missing the consensus estimate of $0.57 per share. However, revenue came in at $306.9 million, surpassing analysts' expectations of $296.9 million.
While Omnicell delivered strong revenue growth of 19% year-over-year, driven by improved macroeconomic conditions and timing of XT Series system implementations, higher costs weighed on profitability. The company cited increased expenses related to investments in generative AI, autonomous driving technologies, and other growth initiatives.
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