Omnicell makes medication management automation systems for hospitals, health systems, and pharmacies. Its core product is the automated dispensing cabinet (ADC), an electronically controlled cabinet installed at nursing units, operating rooms, and emergency departments that stores medications securely, tracks inventory, controls access, and dispenses drugs to clinicians. Omnicell's flagship ADC line is the XT Series, with the next-generation Titan XT platform launched in late 2025. Omnicell also sells central pharmacy automation — robots and dispensing systems for high-volume dispensing and IV sterile compounding — and outpatient pharmacy solutions, including specialty pharmacy services, medication adherence packaging, and patient engagement software under the EnlivenHealth brand. U.S. hospitals and health systems account for roughly 90% of revenue. Omnicell generates revenue through product sales (hardware and software licenses) and services, which include technical support contracts and a growing SaaS and managed services business. The company tracks ARR as a key metric, which exited FY25 at $636M. Omnicell is transitioning toward a cloud-based subscription model through OmniSphere, its cloud-native platform that unifies devices and analytics across health systems. Titan XT requires OmniSphere connectivity, tying hardware refresh to cloud adoption. Growth is driven by an expected hardware replacement cycle within Omnicell's existing installed base, expanding recurring revenue, and broader OmniSphere adoption.