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OmniAb
(NASDAQ:OABI)
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Rating:56Neutral
Price Target:
$3.50
▲(77.66% Upside)
Action:Reiterated
Date:08/11/26
The score is primarily held back by weak financial performance driven by large ongoing losses and negative operating/free cash flow, despite improving revenue and gross margin and a low-leverage balance sheet. Technicals are supportive with price above major moving averages, but overbought indicators raise pullback risk. The earnings call was a notable positive due to raised guidance and better cash outlook, while valuation remains constrained by loss-making economics (negative P/E) and no provided dividend yield.
Positive Factors
Strong revenue growth and upgraded guidance
Sharp, multi-quarter revenue acceleration and an upward revision to full-year guidance signal durable demand for OmniAb’s discovery services and milestone recognition. This growth increases the base for operating leverage, improves near-term visibility for partnerships, and supports multi‑month planning for capacity and R&D investment.
Negative Factors
Negative operating and free cash flow
Sustained negative operating and free cash flow undermines self‑funding and increases reliance on partner milestones, equity raises, or other financing. Persistent cash burn constrains reinvestment, heightens dilution or financing risk, and limits the firm’s ability to sustain higher fixed costs through cyclical revenue periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth and upgraded guidance
Sharp, multi-quarter revenue acceleration and an upward revision to full-year guidance signal durable demand for OmniAb’s discovery services and milestone recognition. This growth increases the base for operating leverage, improves near-term visibility for partnerships, and supports multi‑month planning for capacity and R&D investment.
Read all positive factors
OmniAb Key Performance Indicators (KPIs)
OmniAb (OABI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$491.42M
Dividend YieldN/A
Average Volume (3M)561.73K
Price to Earnings (P/E)―
Beta (1Y)1.51
Revenue Growth67.01%
EPS Growth40.54%
CountryUS
Employees89
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.36
Shares Outstanding145,390,400
10 Day Avg. Volume481,153
30 Day Avg. Volume561,725
Financial Highlights & Ratios
PEG Ratio0.49
Price to Book (P/B)0.79
Price to Sales (P/S)11.26
P/FCF Ratio-5.68
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$7.50Price Target Upside280.71% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.41
Revenue Forecast (FY)$30.80M
OmniAb Business Overview & Revenue Model
Company Description
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 sc...
How the Company Makes Money
OmniAb primarily makes money by partnering with biopharmaceutical and biotechnology companies that use its antibody discovery platforms to create therapeutic antibody candidates. Revenue is generally generated through (1) upfront fees and/or acces...
OmniAb Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum: substantial year-over-year revenue growth (~244% for Q2 and ~243% YTD), marked improvement in net losses (~60%+ reduction), upgraded full-year revenue and cash guidance, expanding partner/program base, and notable clinical progression including two programs advancing rapidly to Phase III. Risks highlighted include the lumpiness of milestone-driven revenue, an early-stage xPloration commercialization ramp, ongoing (though reduced) GAAP losses, and dependence on partner development timelines for future royalties. On balance, positive execution and meaningful clinical/contracted upside appear to outweigh the near-term variability and commercialization risks.Positive Updates
Strong Revenue Growth
Q2 revenue of $13.4M versus $3.9M in Q2 2025 (+~244%); year-to-date revenue $27.8M versus $8.1M in prior year (+~243%). Company raised 2026 revenue guidance to $32M–$36M driven primarily by milestone achievements.
Negative Updates
Milestone Revenue Variability and Lumpiness
Management emphasized that milestone revenue can vary significantly quarter-to-quarter and noted 2026 milestone revenue is more front-loaded, creating potential for a lighter back half and uneven quarterly cadence.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue Growth
Q2 revenue of $13.4M versus $3.9M in Q2 2025 (+~244%); year-to-date revenue $27.8M versus $8.1M in prior year (+~243%). Company raised 2026 revenue guidance to $32M–$36M driven primarily by milestone achievements.
Read all positive updates
Company Guidance
OmniAb raised its 2026 guidance, increasing total revenue to $32–$36 million, GAAP operating expense to $84–$88 million, cash operating expense to $51–$55 million, and now expects year-end cash and cash equivalents of $37–$41 million (effective tax rate ~0%); this follows a strong Q2 with revenue of $13.4M (vs. $3.9M in Q2 2025) and year-to-date revenue of $27.8M (vs. $8.1M), a Q2 net loss of $5.9M ($0.05/share) and YTD net loss of $13.6M ($0.11/share) (vs. prior period losses of $15.9M/$0.15 and $34.1M/$0.32), an ending Q2 cash balance of $52M (starting the year at $54M) and an implied 2026 cash burn of roughly $15M at the midpoint; management also noted portfolio metrics that underlie the guidance: 110 active partners, 425 active programs (≈98% with contracted future economics), >$3B in total contracted potential milestone payments on standard antibody licenses with an average contracted royalty of ~3.4%, 34 active clinical programs with ≈$340M of remaining contracted potential milestone payments, and that ~35–40% of operating expense is non‑cash.OmniAb Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
72
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 38.43M | 18.67M | 26.39M | 34.16M | 59.08M | 34.75M |
| Gross Profit | 19.42M | -3.39M | 26.39M | 34.16M | 59.08M | 34.75M |
| EBITDA | -25.46M | -44.54M | -47.83M | -44.87M | -7.81M | -18.09M |
| Net Income | -44.26M | -64.78M | -62.03M | -50.62M | -22.33M | -27.04M |
Balance Sheet | ||||||
| Total Assets | 290.26M | 300.91M | 325.56M | 375.23M | 421.21M | 304.46M |
| Cash, Cash Equivalents and Short-Term Investments | 51.99M | 54.02M | 59.43M | 86.98M | 88.27M | 0.00 |
| Total Debt | 18.91M | 20.33M | 23.16M | 25.56M | 25.80M | 13.85M |
| Total Liabilities | 29.98M | 33.89M | 37.94M | 60.64M | 79.84M | 70.16M |
| Stockholders Equity | 260.27M | 267.03M | 287.62M | 314.58M | 341.37M | 234.31M |
Cash Flow | ||||||
| Free Cash Flow | -18.14M | -37.02M | -41.54M | 703.00K | -20.75M | -9.74M |
| Operating Cash Flow | -17.67M | -36.45M | -39.66M | 2.35M | -3.59M | -5.67M |
| Investing Cash Flow | -4.14M | 6.47M | 37.88M | -18.38M | -73.31M | -4.03M |
| Financing Cash Flow | 27.87M | 27.91M | 13.02M | -892.00K | 110.74M | 9.70M |
OmniAb Technical Analysis
Positive
1.97
Price Trends
2.35
Positive
2.08
Positive
1.94
Positive
Market Momentum
0.32
Negative
80.94
Negative
88.42
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OABI, the sentiment is Positive. The current price of 1.97 is below the 20-day moving average (MA) of 2.43, below the 50-day MA of 2.35, and above the 200-day MA of 1.94, indicating a bullish trend. The MACD of 0.32 indicates Negative momentum. The RSI at 80.94 is Negative, neither overbought nor oversold. The STOCH value of 88.42 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OABI.
OmniAb Risk Analysis
OmniAb disclosed 75 risk factors in its most recent earnings report. OmniAb reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
OmniAb Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | $645.49M | -8.24 | -31.96% | ― | ― | 30.54% | |
56 Neutral | $491.42M | -9.39 | -16.59% | ― | 67.01% | 40.54% | |
52 Neutral | $410.65M | -2.46 | -64.25% | ― | ― | -29.71% | |
52 Neutral | $1.36B | -0.07 | -91.63% | ― | ― | 69.48% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
48 Neutral | $267.46M | -1.49 | 141.41% | ― | ― | ― |
* Healthcare Sector Average
OABI
OmniAb
3.38
1.37
68.16%
RNAC
Cartesian Therapeutics
8.84
-2.44
-21.63%
TLSA
Tiziana Life Sciences
1.14
-0.75
-39.95%
AVIR
Atea Pharmaceuticals
5.12
1.59
45.04%
VOR
Vor Biopharma
23.03
-17.77
-43.55%
SGMT
Sagimet Biosciences, Inc. Class A
10.55
3.00
39.74%
OmniAb Corporate Events
Business Operations and StrategyExecutive/Board Changes
OmniAb Names Amechi Nwachuku Chief Operating Officer
Positive
Jul 13, 2026
Effective July 13, 2026, OmniAb appointed veteran life sciences executive Amechi Nwachuku as chief operating officer, bringing more than 20 years of commercial and leadership experience across diagnostics, biotechnology, medical devices, and pharm...
Executive/Board ChangesShareholder Meetings
OmniAb Shareholders Approve Directors and Auditor at Meeting
Positive
Jun 18, 2026
OmniAb, Inc. held its 2026 Annual Meeting of Shareholders on June 17, 2026, where investors voted on board composition and auditor appointment, decisions that shape the company’s governance and financial oversight. Shareholders elected Jenni...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.