Omnicell Q1 revenue up 15%, margin expands despite new Medicaid cuts and tariff shifts

Filed May 6, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~2 min read

Key Changes

• high

  Revenue grew 15% YoY to $310M with gross margin expanding 400bps to 45%, driven by automated dispensing systems and installation efficiencies, offsetting tariff headwinds and swinging to operating profitability.

  MD&A: Financial Results verify on EDGAR →
• high

  New OBBBA legislation expected to cut Medicaid spending by $910B, compressing hospital margins and shifting customer purchasing from capital expenditures to leasing and subscription models to preserve cash flow.

  MD&A: Market Conditions verify on EDGAR →
• high

  Supreme Court struck down IEEPA tariffs in February 2026; CBP launched refund portal in April, but company has not recorded any benefit due to uncertainty. New 10% Section 122 tariff imposed for 150 days.

  MD&A: Tariffs verify on EDGAR →