OmniAb Raises 2026 Revenue Outlook to $39 Million After Third-Quarter Growth
Key Facts
On October 30, OmniAb raised its 2026 revenue outlook to a range of $35–39 million, from a previous range of $32–36 million, according to its results statement published via Nasdaq. The company said the revision reflects business momentum and higher milestone revenue recognized to date. The increase follows revenue of $31.8 million in the first nine months of the year, compared with $10.3 million in the same period of 2025. In the third quarter alone, revenue reached $4 million, compared with $2.2 million a year earlier. The company attributed the quarterly increase mainly to service and xPloration platform revenue.
Service revenue rose as work increased on antibody and ion-channel programs, according to the company. xPloration revenue also increased, driven by higher sales of instruments and consumables. For the nine-month period, OmniAb said the revenue increase was mainly associated with milestone revenue. The company had recorded revenue of $27.8 million in the first half of 2026, compared with $8.1 million in the corresponding period of 2025, also attributing the increase to milestones. The comparison shows that revenue recorded through September had already exceeded the lower end of the previous annual guidance, while the company raised its full-year outlook.
Despite revenue growth, OmniAb reported a third-quarter net loss of $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. At the same time, the company lowered its 2026 cost and operating expense outlook to a range of $83–87 million from a previous $84–88 million. It also lowered its cash cost and operating expense range to $50–54 million, compared with previous guidance of $51–55 million. The company expects to end the year with cash and cash equivalents of $53–57 million, up from its previous forecast of $49–53 million. The revisions combine a higher revenue outlook with expenses and cash liquidity estimated at better levels than previously forecast.
As of September 30, OmniAb had 111 active partners and 433 active programs, including 34 programs derived from its technologies that had reached clinical or commercial stages. In August, the company announced a global collaboration and license agreement with Eli Lilly for a new program targeting ion channels. The agreement provides for an upfront payment to OmniAb and makes it eligible for research, development and commercial milestone payments of up to $370 million, in addition to tiered royalties on global net sales. The milestone value does not represent guaranteed or immediate revenue, as payments depend on the agreement’s milestones. The companies did not disclose the program’s therapeutic target or modality.
For xPloration, OmniAb expects revenue of between $2 and $3 million in 2026, followed by a doubling in 2027 and another doubling in 2028. As of October, purchasing the platform became available to all customers, after commercial access had been narrower through the partner program the company launched in 2025. The expansion places platform revenue among the growth sources the company expects to extend over the following two years, alongside service and milestone revenue. OmniAb had announced that results for the third quarter and nine months ended September 30 would be released before U.S. markets opened on October 30, with an earnings call scheduled for the same day at 8:00 a.m. Eastern time. Separately, Lilly announced on October 29 that quarterly revenue grew 39% to $24.4 billion and raised its annual revenue outlook to $91–92 billion; those figures belong to Lilly and are not included in OmniAb’s guidance.