OmniAb, Inc.
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Range $4 – $4
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About the company
OmniAb, Inc. is an American biotechnology firm focused on pioneering therapeutic antibody discovery. The company provides a sophisticated platform that allows its industry partners to access a broad spectrum of antibody repertoires and advanced screening techniques, thereby facilitating the development of next-generation treatments.
- CEO
- Matthew W. Foehr
- IPO
- 2021
- Employees
- 89
- HQ
- EmeryVille, CA, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $623.38M
- P/E
- -11.94
- Fwd P/E
- 67.90
- PEG
- -0.23
- P/S
- 16.22
- P/B
- 2.13
- EV/EBITDA
- -24.27
- Div Yield
- 0.00%
- Gross Margin
- 50.53%
- Op Margin
- -125.79%
- Net Margin
- -115.18%
- ROE
- -16.59%
- ROIC
- -17.24%
Latest fiscal year · YoY change
- Revenue
- $18.67M-29.3%
- Gross Profit
- $-3,391,000-112.8%
- Op Income
- $-71,518,000
- Net Income
- $-64,779,000-4.4%
- EPS
- $-0.57+6.6%
- OCF Growth
- +8.1%
- FCF Growth
- +10.9%
- 52W High
- $4.59
- 52W Low
- $1.30
- 50D MA
- $2.44
- 200D MA
- $1.98
- Beta
- 1.22
- RSI (14)
- 89
- Avg Volume
- 981.66K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
OmniAb delivered a strong Q2 on milestone-driven revenue, improved losses, and raised full-year 2026 guidance as partner programs advanced deeper into the clinic.· August 6, 2026
- Q2 revenue rose to $13.4 million from $3.9 million a year ago, driven mainly by higher milestone revenue and 2 xPloration instrument sales.
- Net loss improved to $5.9 million, or $0.05 per share, versus $15.9 million, or $0.15 per share last year.
- Full-year 2026 revenue guidance was raised to $32 million to $36 million, while year-end cash guidance moved to $37 million to $41 million.
- The company ended Q2 with 110 active partners, 425 active programs, and 34 active clinical programs and approved products.
- Management highlighted growing interest in OmniUltra, OmnidAb, and xPloration, with 4 xPloration units now in the field after the quarter.
Q2 2026 revenue was $13.4 million, up from $3.9 million in Q2 2025. Year-to-date revenue was $27.8 million versus $8.1 million in the prior-year period. Q2 net loss improved to $5.9 million, or $0.05 per share, from $15.9 million, or $0.15 per share a year ago; year-to-date net loss improved to $13.6 million, or $0.11 per share, from $34.1 million, or $0.32 per share. The company ended the quarter with $52 million in cash. Full-year 2026 guidance was raised: total revenue is expected to be $32 million to $36 million, GAAP operating expense $84 million to $88 million, cash operating expense $51 million to $55 million, and ending cash and cash equivalents $37 million to $41 million. Management said the full-year effective tax rate should remain approximately 0% because of the valuation allowance.
CEO Matt Foehr emphasized that the business is gaining momentum as partner programs advance into and through the clinic, which he said increases visibility into future milestones and potential royalties. He repeatedly framed OmniAb as a differentiated technology licensing platform with durable revenue streams and highlighted new partner wins, including EnRosa Therapeutics and argenx. His tone was confident and upbeat, especially around xPloration, OmniUltra, OmnidAb, and the expanding clinical pipeline.
CFO Kurt Gustafson said revenue growth was primarily driven by milestone revenue, with added contribution from xPloration instrument sales and a slight increase in service revenue from new ion channel agreements. He pointed to improved profitability metrics, noting that the company continues to drive down cash costs and that about 35% to 40% of operating expense is non-cash. On the balance sheet, he said OmniAb ended Q2 with $52 million in cash, and that the company is well capitalized based on anticipated cash flows; he also raised full-year guidance and narrowed ranges across revenue, operating expense, cash operating expense, and year-end cash.
Analysts focused on xPloration’s early commercial traction, margin profile, and whether sales could become more predictable, while management said instrument margins are good and consumables margins are even better, though mix can create quarter-to-quarter variability. Questions also centered on whether improved biotech/pharma funding would translate into more deal flow; management said they are seeing better partner formation and larger swings toward higher-value indications, including both large pharmas and better-funded smaller biotechs. Analysts pressed on how the company closes the gap between spend and revenue, and management answered that rising milestones, eventual royalties, and a tight cost structure should narrow that gap over time.
The bullish case is that OmniAb’s partnered programs are advancing, with 4 new clinical entrants so far in 2026 and several later-stage programs moving forward, which management said supports future milestones and royalties. The company also sees xPloration, OmniUltra, and OmnidAb broadening the platform and opening new markets, while multiple large pharma partners remain active and new deals continue to come in.
The main risk is that revenue still depends heavily on milestones, which management acknowledged can be highly variable and are front-end loaded this year. xPloration is still early, with management saying it is too soon to break out consumables or assess the full commercial opportunity, and the company still expects only modest revenue relative to spending in 2026 despite the raised guide. Analysts also highlighted the gap between revenue and operating expense, implying continued dependence on future milestones and eventual royalties to improve the model.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 81.7%
- Shares Outstanding
- 144.97M
- Float Shares
- 118.44M
of shares held by institutions
129 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 5.63M | ▲ 477.14K |
| Kent Lake Pr LLC | 500.00K | ▼ 1.25M |
| Two Sigma Advisers, LP | 197.53K | ▲ 71.50K |
| Northeast Financial Consultants Inc | 111.00K | 0 |
| Nj State Employees Deferred Compensation Plan | 24.50K | 0 |
| Cubist Systematic Strategies, LLC | 11.31K | ▼ 60.84K |
| Court Place Advisors, LLC | 10.53K | ▼ 5.39K |
| Cwm, LLC | 7.60K | ▲ 5.11K |
| California State Teachers Retirement System | 6.24K | ▼ 233 |
| Point72 Asia (Singapore) Pte. Ltd. | 4.18K | ▼ 37.45K |
| Cibc Private Wealth Group, LLC | 294 | 0 |
| Comerica Bank | 127 | 0 |
Held by 157 ETFs
Biggest fund positions in OABI by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 1, 26 | Nwachuku Amechi Ekeke | other | 800,000 |
| Jul 13, 26 | Nwachuku Amechi Ekeke | other | 0 |
| Jun 17, 26 | Bertozzi Carolyn R | other | 20,000 |
| Jun 17, 26 | Bertozzi Carolyn R | other | 40,000 |
| Jun 17, 26 | Bertozzi Carolyn R | other | 20,000 |
| Jun 17, 26 | Bertozzi Carolyn R | other | 20,000 |
| Jun 17, 26 | Cochran Jennifer R. | other | 20,000 |
| Jun 17, 26 | Cochran Jennifer R. | other | 40,000 |
| Jun 17, 26 | Cochran Jennifer R. | other | 20,000 |
| Jun 17, 26 | Cochran Jennifer R. | other | 20,000 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our OABI coverage
Recent articles, reports, and earnings notes.
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Generate OABI report →OmniAb: Lilly-Style Partners Are Paying Attention To This Early-Stage Biotech
seekingalpha.com · Aug 18
OmniAb Raises 2026 Financial Guidance
businesswire.com · Aug 17
OmniAb Announces Global Collaboration and License Agreement for Ion Channel Program with Eli Lilly & Company
businesswire.com · Aug 17
OmniAb, Inc. (OABI) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 7
OmniAb Q2 Earnings Call Highlights
marketbeat.com · Aug 7
OmniAb, Inc. (OABI) Reports Q2 Loss, Beats Revenue Estimates
zacks.com · Aug 6
OmniAb Reports Second Quarter 2026 Financial Results and Business Highlights
businesswire.com · Aug 6
VERAXA Biotech Announces Advancement of Novel Bispecific Antibody Drug Conjugate Program VXA-222 from Joint Discovery Collaboration with OmniAb
globenewswire.com · Jul 27
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