OmniAb Q1 revenue beats estimates; raises 2026 outlook on partner program momentum

OmniAB

07/05/2026 21:51

Overview

U.S. antibody discovery platform's Q1 revenue rose sharply, beating analyst expectations

Company raised 2026 revenue guidance, citing strong partner program momentum

Operating expenses declined yr/yr, driven by lower R&D and G&A costs

Outlook

OmniAb raises 2026 revenue guidance to $28 mln-$33 mln from $25 mln-$30 mln previously

Company increases 2026 costs and operating expenses forecast to $83 mln-$88 mln from $80 mln-$85 mln

OmniAb expects 2026 year-end cash and equivalents of $33 mln-$38 mln, up from $30 mln-$35 mln prior forecast

Result Drivers

MILESTONE REVENUE - Co said revenue growth was primarily driven by milestone payments from partner programs advancing to later-stage clinical development

LOWER OPERATING COSTS - Co attributed decreased R&D and G&A expenses to lower personnel, share-based compensation, and external costs tied to legacy programs

NON-CASH IMPAIRMENT - Higher amortization of intangibles reflected a non-cash impairment from discontinuing certain legacy small-molecule ion channel programs

Company press release: ID:nBw5Zq9h9a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$14.4 mln
$5.69 mln (7 Analysts)
Q1 EPS
-$0.06
Q1 Net Income
-$7.7 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for OmniAb Inc is $8.00, about 459.4% above its May 6 closing price of $1.43

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)