OmniAb Raises 2026 Revenue Guidance to $35–39 Million After Third-Quarter Growth
Key Facts
OmniAb raised its 2026 revenue guidance range to $35–39 million from $32–36 million previously, after reporting third-quarter revenue of $4.0 million, compared with $2.2 million in the corresponding period of 2025. The company said in its results statement that quarterly revenue rose, driven primarily by services and the xPloration platform. The revision puts its full-year outlook above the range it previously announced, while the company continues to report net losses. The company also announced a global collaboration and license agreement with Eli Lilly during the quarter for an ion-channel program. The results come amid revenue growth and a changing mix of sources, with losses remaining part of the financial picture.
Net loss was $15.7 million, or $0.12 per share, compared with a loss of $16.5 million, or $0.14 per share, in the third quarter of 2025. The comparison shows a year-over-year reduction in both total loss and loss per share. The company said, meanwhile, that growth in services revenue was linked primarily to increased work on antibody and ion-channel programs. It attributed xPloration growth to higher sales of instruments and related consumables. The quarterly increase therefore came from services and the platform, while revenue performance remained tied to more than one operating source.
For the nine months ended September 30, 2026, OmniAb reported revenue of $31.8 million, compared with $10.3 million in the same period of 2025. The company said the increase was linked primarily to development-stage revenue. That driver differs from the sources of third-quarter growth, which the company linked to services and xPloration. In the second quarter, revenue was $13.4 million, compared with $3.9 million a year earlier, and the company attributed the increase at the time primarily to milestone revenue. Chief Executive Matt Furr said on that quarter's earnings call that the company had raised its 2026 revenue and cash outlook based on continued business momentum.
The Lilly agreement is a global collaboration and license for an ion-channel program. It includes an upfront payment and eligibility for OmniAb to receive up to $370 million in research, development and commercial milestone payments, as well as tiered royalties on global sales. The company did not disclose the therapeutic target or the modality used in the program. The announced maximum remains contingent on achievement of the milestones set out in the agreement, while the available information does not specify when those payments may occur. Alongside the agreement, the company said increased work on ion-channel programs contributed to services revenue growth during the quarter. This brings together ongoing activity reflected in period revenue and future contractual opportunities contingent on milestones.
OmniAb had $64.2 million in cash, cash equivalents and short-term investments as of September 30, 2026. That balance is among the elements of the outlook the company had previously raised for the year, according to Furr's remarks after second-quarter results. In its latest update, the company raised its 2026 revenue guidance range to $35–39 million, compared with the previous range of $32–36 million. In trading, OABI shares closed at $5.23 on October 29, after closing at $5.28 on October 28. The closing data do not identify the reason for the move between the two sessions.
OmniAb had previously scheduled the release of its third-quarter results before the U.S. financial markets opened on Friday, October 30, 2026, with a call the same day at 8:00 a.m. Eastern Time. The results were announced on that date, according to the company's release-date statement. The call's timing gives management an opportunity to present the results and updated outlook on the same day. The new update includes the annual revenue range, while quarterly results showed higher revenue and a narrower loss compared with the corresponding period. The company also includes its cash and short-term investment balance at the end of September in its financial context.