NASDAQ$OABI
OmniAb Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
OmniAb's financial performance declined due to lower milestone and ion channel service revenue, while net loss remained consistent with the prior year.
OmniAb reported a decrease in revenue for Q3 2024, primarily due to the timing of milestones and lower ion channel service revenue. Despite the revenue decline, research and development and general and administrative expenses decreased. The company maintains a strong cash position and is focused on sustainable, profitable growth.
- Revenue for the third quarter of 2024 was $4.2 million, compared to $5.5 million for the same period in 2023.
- Net loss for the third quarter of 2024 was $16.4 million, or $0.16 per share, compared to a net loss of $15.7 million, or $0.16 per share, for the same period in 2023.
- As of September 30, 2024, OmniAb had cash, cash equivalents and short-term investments of $59.4 million.
- OmniAb entered into three new platform license agreements during the third quarter of 2024.
Headline financials
Revenue & EPS history
OmniAb · Revenue · Quarterly
$4.17M
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 in 2023 and anticipates ending 2024 with a cash balance in the range of $50 million to $60 million. Cash use in 2025 is expected to be lower than in 2024, excluding recent ATM program proceeds.
Tailwinds
- Total operating expenses in 2024 expected to be slightly less than in 2023.
- Expected cash balance at the end of 2024 in the range of $50 million to $60 million.
- Cash use in 2025 expected to be lower than in 2024, excluding recent ATM program proceeds.
- Focus on delivering value to stakeholders.
- Focus on creating sustainable, profitable growth.
Headwinds
- Revenue decreased in Q3 2024 compared to the same period in 2023.
- Decrease primarily due to timing of milestones and lower ion channel service revenue.
- Net loss remained consistent with the prior year.
- Future success is dependent on acceptance of technology platform.
- Biopharmaceutical development is inherently uncertain.
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 Q3 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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