OmniAb Inc. Common Stock (OABI)

FairStock Score: 40/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

OmniAb sells tools, not pills: it licenses its antibody-discovery platform to partners who carry most development risk. That can be a good business if the platform is truly differentiated, but the reported numbers do not yet show a durable moat. In fiscal 2023, the year ended 2023-12-31, revenue was $34.2 million; in fiscal 2024, the year ended 2024-12-31, revenue was $26.4 million; and in fiscal 2025, the year ended 2025-12-31, revenue was $18.7 million. Net losses were $50.6 million, $62.0 million, and $64.8 million in those same years; in fiscal 2025, diluted EPS was -$0.57. The latest quarters are better - in fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $14.4 million with a $7.7 million net loss, and in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $13.4 million with a $5.9 million net loss - but quarterly licensing revenue is lumpy; in fiscal Q3 2025, the quarter ended 2025-09-30, revenue was only $2.2 million with a $16.5 million net loss. The balance sheet looks conservative on debt, with D/E of 0.07; FairStock's Altman Z-Score is 12.99, but trailing free cash flow is negative $18.1 million. At the 2026-10-13 close of $4.70, FairStock calculations show P/B of 2.63, P/E of -13.06, and FCF yield of -2.7%, so there is no earnings-based bargain. FairStock's score is 40/100 and its Piotroski F-Score is 4/9. The Lynch category is none because the company has lost money in each of the last four years. I would want evidence of durable, recurring revenue and a path to positive free cash flow before calling this a value opportunity. Until then, it is a speculative platform story, not a Graham-style bargain.

In plain English: OmniAb licenses technology that helps drug companies discover antibodies. The business is not yet profitable, and revenue has shrunk over the last few fiscal years, with money lost in each of the last four years. At the 2026-10-13 close of $4.70, the price looks expensive compared with its sales and accounting value, though the latest two quarters showed smaller losses than earlier in 2025.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer