NASDAQ$OABI
OmniAb Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported financial results for Q2 2024 and provided operating and partner program updates.
OmniAb's second quarter results were in line with expectations, with revenue increasing to $7.6 million compared to $6.9 million in the same period in 2023. The company added new partnerships and programs, and existing partners made clinical progress.
- Revenue for the second quarter of 2024 was $7.6 million, compared to $6.9 million for the same period in 2023.
- Net loss for the second quarter of 2024 was $13.6 million, or $0.13 per share, compared with a net loss of $14.7 million, or $0.15 per share, for the same period in 2023.
- As of June 30, 2024, OmniAb had cash, cash equivalents and short-term investments of $57.2 million.
- OmniAb entered into new platform license agreements with DAAN Bio and Topaz Therapeutics, and expanded its technology access license relationship with HanAll Biopharma.
Headline financials
Revenue & EPS history
OmniAb · Revenue · Quarterly
$7.61M
Revenue by segment
OmniAb · $5.48M total across 3 segments · Q3 2023
- Service Revenue$3.02M—55.1%
- License and Milestone$2.01M—36.7%
- Royalty Revenue$451K—8.2%
Forward guidance
OmniAb expects total operating expenses in 2024 to be slightly less than total operating expenses in 2023 and continues to expect its cash use in 2024 to be relatively similar to its cash use in 2023, excluding the $35 million TECVAYLI milestone payment received in 2023. OmniAb expects its cash use in 2025 to be substantially lower than in 2024. OmniAb’s current cash balance and cash from operations are expected to provide sufficient capital to fund operations for the foreseeable future.
Tailwinds
- Total operating expenses in 2024 expected to be slightly less than in 2023.
- Cash use in 2024 expected to be relatively similar to 2023 (excluding the $35 million TECVAYLI milestone payment).
- Cash use in 2025 expected to be substantially lower than in 2024.
- Current cash balance and cash from operations expected to provide sufficient capital to fund operations for the foreseeable future.
- Recent momentum in business development suggests potential for a record year in deal flow.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q2 2024
-2.1%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+4.1%
Avg return
30 days after
39%
7 / 18 earnings
Positive
+9.9%
Q4 2025
Best reaction
-20.4%
Q4 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.1% | +29.4% | +72.7% | |
| Q4 2025 | +9.9% | +9.9% | -14.9% | |
| Q3 2025 | -4.1% | +0.7% | +31.8% | |
| Q1 2025 | -7.2% | -3.2% | -4.5% | |
| Q4 2024 | -20.4% | -20.4% | -43.9% | |
| Q3 2024 | -11.5% | -15.7% | -13.0% | |
| Q2 2024 | +4.4% | +4.9% | -2.2% | |
| Q1 2024 | +3.1% | -0.9% | +2.2% | |
| Q4 2023 | -2.5% | +0.8% | -11.4% | |
| Q3 2023 | -6.8% | +3.5% | +7.3% | |
| Q2 2023 | -5.7% | -3.8% | -10.4% | |
| Q1 2023 | +6.1% | +16.1% | +37.3% | |
| Q4 2022 | +9.5% | +10.1% | +3.6% | |
| Q3 2022 | -15.5% | -4.1% | +19.3% | |
| Q2 2022 | +0.2% | +0.1% | +0.3% | |
| Q1 2022 | -0.0% | +0.0% | +0.1% | |
| Q4 2021 | -0.0% | -0.1% | -0.1% | |
| Q3 2021 | +0.0% | +0.0% | -0.1% |
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