OmniAb (OABI) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $3.993M vs. $2.239M; 9M revenue was $31.835M vs. $10.290M, primarily reflecting milestone revenue and higher service and xPloration activity.

• Quarter-end portfolio included 111 active partners and 433 active programs, with 34 clinical programs and approved products.

• Expanded xPloration access to all customers, launched OmniTides, and signed an Eli Lilly ion-channel collaboration.

Financial highlights

• Q3 operating loss was $16.368M vs. $18.140M; net loss was $15.728M vs. $16.525M, or $0.12 vs. $0.14 per share.

• 9M operating loss was $30.834M vs. $53.203M; net loss was $29.294M vs. $50.600M, or $0.23 vs. $0.46 per share.

• Costs and operating expenses were $20.4M in both Q3 periods and $62.669M vs. $63.493M for 9M.

• Non-GAAP cash costs and operating expenses were $13.7M vs. $12.3M in Q3 and $39.2M vs. $38.9M for 9M.

Outlook and guidance

• FY26 revenue guidance raised to $35M-$39M from $32M-$36M; costs and operating expenses forecast at $83M-$87M, and cash costs at $50M-$54M.

• Year-end cash guidance raised to $53M-$57M from $49M-$53M; net cash flow guidance improved to -$1M to +$3M from -$1M to -$5M.

• xPloration revenue expected at $2M-$3M in 2026, doubling in 2027 and again in 2028; recurring revenue is expected to become a long-term growth driver.

• FY26 effective tax rate expected to be ~0% due to a valuation allowance.