OmniAb Lifts 2026 Revenue Outlook After Milestone Recede

The Tip Desk · November 10, 2026 · 4 min read

Third-quarter revenue was $4.0 million as the company again raised full-year revenue guidance to $35 million–$39 million.

OmniAb, Inc. (OABI), a provider of discovery research technology for next-generation therapeutics, reported third-quarter 2026 revenue of $4.0 million, down from $13.4 million in the second quarter after a $14.4 million first-quarter print, as milestone-driven license income receded.

The company said the increase versus $2.2 million a year earlier was driven primarily by service revenue and xPloration revenue. Service revenue rose on more work on antibody and ion channel programs. xPloration revenue increased on higher instrument sales and related consumables.

License and milestone revenue was $0.1 million in the third quarter. Service revenue was $2.8 million. xPloration revenue was $0.7 million. Royalty revenue was $0.4 million.

Net loss was $15.7 million, or $0.12 a share, compared with a net loss of $16.5 million, or $0.14 a share, a year earlier. The second-quarter net loss had been $5.9 million, or $0.05 a share.

Total costs and operating expenses were $20.4 million, essentially unchanged from $20.1 million in the second quarter. Cash costs and operating expenses were $13.7 million. Research and development expense was $9.6 million, matching the second-quarter level. General and administrative expense was $7.2 million. Amortization of intangibles was $3.1 million. Other operating expense was $0.2 million and primarily included contingent liability adjustments associated with certain ion channel programs.

For the nine months ended September 30, 2026, revenue was $31.8 million, compared with $10.3 million a year earlier, with the increase primarily related to milestone revenue. Net loss for the nine months was $29.3 million, or $0.23 a share, compared with a net loss of $50.6 million, or $0.46 a share, a year earlier. Cash, cash equivalents and short-term investments were $64.2 million as of September 30, 2026.

OmniAb again raised its 2026 revenue and cash outlook. It now expects full-year revenue of $35 million to $39 million, versus $32 million to $36 million previously. Costs and operating expenses are expected to be $83 million to $87 million. Cash costs and operating expenses are expected to be $50 million to $54 million. The company now expects to end the year with cash and cash equivalents of $53 million to $57 million, versus $49 million to $53 million previously. The full-year 2026 effective tax rate is expected to be approximately 0%.

During the third quarter, OmniAb entered into a new global collaboration and license agreement with Eli Lilly and Company for a new ion channel program. Under the agreement, OmniAb received an up-front payment and is eligible to receive up to $370 million in research, development, and commercial milestone payments, as well as tiered royalties on global net sales. The therapeutic target and modality are undisclosed.

As of September 30, 2026, the company had 111 active partners and 433 active programs, including 34 OmniAb-derived clinical and commercial programs. Those figures were 107 partners and 409 programs as of March 31, 2026.

OmniAb announced the expansion of commercial access to its xPloration platform, making the AI-powered, high-throughput single B-cell screening platform available for purchase by all customers beginning in October 2026, beyond the Partner Access Program launched in 2025. The company said the broader commercial launch addresses an estimated market opportunity of more than $500 million. OmniAb expects xPloration revenue in 2026 to be between $2 million and $3 million and expects that revenue to double in 2027 and to double again in 2028.

In October the company also introduced OmniTides, a new peptide discovery offering powered by the OmniUltra transgenic chicken platform, designed to provide an integrated discovery-to-synthesis workflow.

Partner updates included Teva Pharmaceuticals’ announcement of positive topline results from a Phase 2a study of TEV-’408 in celiac disease, Harbour BioMed’s report that China’s NMPA approved batoclimab for generalized myasthenia gravis, and Immunovant’s expectation of further updates on IMVT-1402 in difficult-to-treat rheumatoid arthritis in the second half of 2026.