$OABIW

OmniAb, Inc.

CIK:0001846253|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Total revenue	$ 13,415	$ 3,897	$ 27,842	$ 8,051
Costs and operating expenses:
Research and development	9,586	10,864	19,226	23,466
General and administrative	6,653	7,684	13,272	15,599
Amortization of intangibles	3,053	3,228	9,081	6,456
Other operating expense (income), net	150	(1,922)	104	(2,672)
Total costs and operating expenses	20,052	20,116	42,308	43,114
Loss from operations	(6,637)	(16,219)	(14,466)	(35,063)
Other income (expense), net:
Interest income	434	436	921	973
Other income (expense), net	(9)	27	68	28
Total other income, net	425	463	989	1,001
Loss before income taxes	(6,212)	(15,756)	(13,477)	(34,062)
Income tax benefit (expense)	353	(119)	(89)	(13)
Net loss	$ (5,859)	$ (15,875)	$ (13,566)	$ (34,075)
Net loss per share, basic (dollars per share)	$ (0.05)	$ (0.15)	$ (0.11)	$ (0.32)
Net loss per share, diluted (dollars per share)	$ (0.05)	$ (0.15)	$ (0.11)	$ (0.32)
Weighted-average shares outstanding, basic (in shares)	128,795	106,148	128,521	105,886
Weighted-average shares outstanding, diluted (in shares)	128,795	106,148	128,521	105,886
License and milestone revenue
Revenue:
Total revenue	$ 9,515	$ 1,242	$ 21,540	$ 3,263
Service revenue
Revenue:
Total revenue	2,473	1,936	4,580	3,839
xPloration revenue
Revenue:
Total revenue	1,161	608	1,215	650
Costs and operating expenses:
Cost of xPloration revenue	610	262	625	265
Royalty revenue
Revenue:
Total revenue	$ 266	$ 111	$ 507	$ 299

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net loss	$ (13,566)	$ (34,075)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of property and equipment	1,183	1,830
Amortization of intangible assets	9,081	6,456
Amortization of operating lease right-of-use assets	1,168	1,106
Share-based compensation	6,499	8,255
Amortization of discounts on short-term investments, net	(344)	(442)
Deferred income taxes, net	97	13
Change in estimated fair value of contingent liabilities	(281)	225
Gain on sale of ion channel asset	0	(3,000)
Other	63	120
Changes in operating assets and liabilities, net:
Accounts receivable, net	(2,554)	2,599
Prepaid expenses and other current assets	236	135
Other long-term assets	211	374
Accounts payable, accrued expenses, and other liabilities	(1,545)	(1,771)
Operating lease liabilities	(1,505)	(1,381)
Deferred revenue	(978)	(1,462)
Net cash used in operating activities	(2,235)	(21,018)
Investing activities:
Purchases of short-term investments	(33,009)	(18,595)
Proceeds from the maturity of short-term investments	34,100	27,300
Purchases of property and equipment	(277)	(374)
Proceeds from sale of short-term investments	0	90
Proceeds from sale of ion channel asset	0	3,000
Net cash provided by investing activities	814	11,421
Financing activities:
Payment of contingent liabilities	(113)	0
Proceeds from issuance of common stock from stock plans	346	341
Payment of transaction costs	0	(61)
Net cash provided by financing activities	233	280
Net change in cash, cash equivalents and restricted cash	(1,188)	(9,317)
Cash, cash equivalents and restricted cash at beginning of period	26,084	28,158
Cash, cash equivalents and restricted cash at end of period	24,896	18,841
Supplemental cash flow information:
Deferred revenue recorded in accounts receivable	$ 384	$ 33

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 24,336	$ 25,524
Short-term investments	27,659	28,501
Accounts receivable, net	10,328	7,390
Prepaid expenses and other current assets	3,690	3,926
Total current assets	66,013	65,341
Intangible assets, net	116,068	125,149
Goodwill	83,979	83,979
Property and equipment, net	8,475	9,428
Operating lease right-of-use assets	14,461	15,545
Restricted cash	560	560
Other long-term assets	701	912
Total assets	290,257	300,914
Current liabilities:
Accounts payable	2,088	1,879
Accrued expenses and other current liabilities	4,499	6,291
Current contingent liabilities	940	1,044
Current deferred revenue	2,258	3,161
Current operating lease liabilities	3,973	3,879
Total current liabilities	13,758	16,254
Long-term contingent liabilities	25	315
Deferred income taxes, net	882	785
Long-term operating lease liabilities	14,940	16,455
Long-term deferred revenue	309	0
Other long-term liabilities	69	78
Total liabilities	29,983	33,887
Stockholders' equity:
Preferred stock, $0.0001 par value; 100,000,000 shares authorized at June 30, 2026 and December 31, 2025; no shares issued and outstanding at June 30, 2026 and December 31, 2025	0	0
Common stock, $0.0001 par value; 1,000,000,000 shares authorized at June 30, 2026 and December 31, 2025; 145,390,398 and 144,308,383 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	15	14
Additional paid-in capital	440,024	433,180
Accumulated other comprehensive income (loss)	(20)	12
Accumulated deficit	(179,745)	(166,179)
Total stockholders’ equity	260,274	267,027
Total liabilities and stockholders’ equity	$ 290,257	$ 300,914