OmniAb (OABI) Q2 2026 earnings summary

Executive summary

• Q2 2026 performance was driven by milestone payments, technology platform advancements, and strong partner momentum, with 110 active partners and 425 active programs as of June 30, 2026.

• Novel technologies such as OmniUltra, OmnidAb, and xPloration are opening new markets, driving clinical progress, and expanding revenue opportunities.

• xPloration platform sales and adoption are increasing, contributing to diversified revenue streams and commercial strategy.

• Added a new COO to strengthen operations and commercial strategy.

Financial highlights

• Q2 2026 revenue was $13.4 million, up from $3.9 million in Q2 2025; year-to-date revenue reached $27.8 million, up from $8.1 million in the prior year period.

• Net loss for Q2 2026 improved to $5.9 million ($0.05/share) from $15.9 million ($0.15/share) year-over-year; six-month net loss was $13.6 million, improved from $34.1 million.

• Cash, cash equivalents, and short-term investments totaled $52.0 million as of June 30, 2026.

• Q2 2026 total costs and operating expenses were $20.1 million, flat year-over-year; cash costs and operating expenses (non-GAAP) for Q2 2026 were $13.3 million, up from $11.9 million in Q2 2025.

Outlook and guidance

• 2026 revenue guidance raised to $32–$36 million, with year-end cash projected at $37–$41 million.

• 2026 GAAP operating expense expected at $84–$88 million; cash operating expense at $51–$55 million.

• Effective tax rate for 2026 expected to be approximately 0%.

• Royalties are expected to become a growing revenue stream as partner programs advance.