Core Insights - Plurilock Security Inc. has been named a Certified Services Partner for Forcepoint, enhancing its position in the cybersecurity market [1][5] - The partnership allows Plurilock to offer integrated services to Forcepoint customers, including implementation, policy tuning, hosting, and fully managed services [2][4] - This collaboration aims to provide operational value and support for organizations, particularly those with limited internal resources, by optimizing existing Forcepoint deployments [3][4] Company Developments - The partnership with Forcepoint is a continuation of Plurilock's earlier designation as an Authorized Managed Security Service Provider (MSSP) [5] - Plurilock's Critical Services will be integrated into its Data Protection as a Service (DPaaS) platform, providing centralized support across various environments [4][8] - The collaboration is already generating joint sales engagements and new leads in both enterprise and public sector accounts [3][7] Industry Context - The partnership reflects a growing trend in the cybersecurity industry towards AI-powered, unified data security solutions that adapt to risk and simplify protection across environments [4] - Plurilock's services are designed to reduce risk, ensure compliance, and enhance long-term system effectiveness for clients [4][5] - The collaboration positions Plurilock as a trusted advisor and managed cybersecurity provider in complex enterprise and regulated markets [5][6]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $270 million, an increase of $24 million from Q1 2024, but a decrease of $37 million from Q4 2024 [8][17] - Product revenues were $145 million, up $12 million year-over-year but down $37 million sequentially [9][18] - Service revenues were $125 million, an increase of $12 million from Q1 2024 and flat compared to Q4 2024 [9][18] - Non-GAAP gross margin for Q1 2025 was 42.1%, a decrease of 530 basis points from the prior quarter [9][19] - GAAP earnings per share for Q1 2025 was a loss of $0.15, compared to a loss of $0.34 in Q1 2024 [10][20] - Non-GAAP earnings per share for Q1 2025 was $0.26, compared to $0.03 in the same period last year [10][20] - Non-GAAP EBITDA for Q1 2025 was $24 million, an increase of $13 million year-over-year but a decrease of $23 million from the previous quarter [10][21] Business Line Data and Key Metrics Changes - The XT Amplify program contributed to revenue growth, alongside SaaS and XPath services, including specialty pharmacy services [17][18] - The company continues to see strong customer interest in its long-term innovation roadmap [8][17] Market Data and Key Metrics Changes - The demand environment tracked well with expectations, showing market share gains and continued interest in the product platform [7][8] - Leading health systems in various states have invested in Omnicell solutions to improve efficiency and patient safety [12][14] Company Strategy and Development Direction - The company aims to capture greater market share across inpatient and outpatient settings, grow predictable recurring revenue, and expand its cloud-based platform, Omnisphere [7][8] - The focus remains on redefining medication and supply management across healthcare [6][7] - The company is adapting its supply chain to mitigate tariff impacts, including dual sourcing and near-shoring efforts [10][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current tariff environment and emphasized the importance of supply chain optimization [11][15] - The company remains optimistic about long-term growth strategies aligning with the vision of the Autonomous Pharmacy [15][28] - Management noted that the first quarter typically has the lowest revenue and profitability, with expectations for growth throughout the year [20][21] Other Important Information - The anticipated impact from tariffs for 2025 is approximately $40 million to non-GAAP EBITDA, leading to adjustments in guidance [11][26] - Cash and cash equivalents at the end of Q1 2025 were $387 million, up from $369 million at the end of Q4 2024 [21] Q&A Session Summary Question: Can you describe the outlook for tariff distribution between Omnicell and customers? - Management indicated that currently, they are not passing significant price increases to customers but may adjust discounts in the future [32] Question: What is the cadence of the $40 million tariff impact? - The total impact is expected to be $40 million, with about $5 million in Q2 and the remainder in the second half of the year [39][41] Question: Are there any fundamentals driving reacceleration in demand for pharmacy IT? - Management noted that specialty pharmacy is a top topic among providers, leading to more strategic discussions about investments [48][50] Question: What are the assumptions behind the new EBITDA guidance range? - The guidance changes were primarily driven by tariff impacts, with mitigation actions including relocating supply chains and evaluating pricing [54][59] Question: How long will it take to disintermediate supply chain exposure to China? - Management stated that while some components will still flow through China, they are taking actions to move sourcing to other regions over time [66] Question: How does the hospital buying environment look currently? - Management reported no slowdown in revenue or installation processes, indicating a positive environment despite potential macroeconomic challenges [86]