Omnicell, Inc. (NASDAQ:OMCL) Q2 2020 Earnings Conference Call - Final Transcript

Jul 28, 2020 • 04:30 pm ET


Omnicell, Inc. (NASDAQ:OMCL) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the Omnicell Second Quarterly Earnings Call. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Chief Financial Officer, Peter Kuipers. Thank you. Please go ahead, sir.

Peter Kuipers

Thank you. Good afternoon, and welcome to the Omnicell second quarter 2020 earnings call. Joining me today is Randall Lipps, Omnicell's Founder, Chairman, President and CEO.

This call will include forward-looking statements 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 today, in the Omnicell annual report on Form 10-K filed with the SEC on February 26, 2020, 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.

The date of this conference call is July 28, 2020 and all forward-looking statements made on this call are based on the beliefs of Omnicell as of this date only. Future events or simply the passage of time may cause these beliefs to change and we undertake no obligation to update these forward-looking statements.

Finally, this conference call is the property of Omnicell Inc and any taping, other duplication or rebroadcast without the expressed written consent of Omnicell is prohibited.

Randall will provide an update on our business. After Randall's remarks, I will cover our results for the second quarter of 2020, and our guidance for the third quarter of 2020. Our 2020 second quarter results are included in our earnings announcement which was released earlier today and is posted in the Investor Relations section of our website at Our prepared remarks will also be posted in the same section.

Additionally, we'd like to remind you that during this call we will discuss some non-GAAP financial measures. Reconciliations of these non-GAAP measures to the most comparable GAAP financial measures are included in our earnings announcement.

Let me now turn over the call to Randall.

Randall Lipps

Good afternoon and thank you for joining us today. I'd like once again to start the call by recognizing all of the health care professionals who were on the front lines battling COVID-19. These are challenging times and your courage and resilience in the face of this pandemic continues to be nothing short of heroic.

As our healthcare partners continue to navigate the impact to COVID-19, we remain focused on our long-term strategy, which we believe is unchanged. We are committed to executing the vision of the Autonomous Pharmacy by delivering automation, intelligence and services designed to transform the pharmacy care delivery model to help drive significantly improve outcomes and lower costs. As the COVID-19 pandemic spread in different regions and the US and internationally, there were several shortages not only in ICU capacity, equipment and PPE that occurred at varying levels, but also in pharmacy.