OmniAb, Inc. reported a total revenue of $18.7 million for the fiscal year ending December 31, 2025, a decrease of 29% from $26.4 million in 2024. The decline was primarily attributed to a 30% drop in license and milestone revenue, which fell from $13.9 million to $9.8 million, and a 39% decrease in service revenue, down from $11.9 million to $7.3 million. However, the company did see a significant increase in xPloration revenue, which reached $754,000, and a 52% rise in royalty revenue, totaling $878,000, driven by higher net sales from partners' products in China.
In terms of operational metrics, OmniAb had 107 active partners and 407 active programs utilizing its technology platform as of December 31, 2025. This included 27 antibodies in clinical development, two under regulatory review, and three approved products. The company’s workforce consisted of 89 employees, with 63 engaged in research and development, reflecting a strategic focus on enhancing its technology offerings. The launch of the xPloration Partner Access Program in May 2025 contributed to the increase in revenue from this segment, indicating a successful expansion of its product offerings.
OmniAb's financial performance also showed a net loss of $64.8 million for 2025, compared to a loss of $62 million in 2024. The increase in losses was influenced by a reduction in revenue and ongoing investments in research and development, which totaled $47.8 million, down from $55.1 million the previous year. The company recorded a $3.3 million impairment charge related to certain ion channel assets, which further impacted its financial results. Despite these challenges, OmniAb maintained a cash position of $54 million, which it believes is sufficient to support operations for at least the next 12 months.
Looking ahead, OmniAb's management expressed optimism about the long-term value of the business being driven by royalties from partner programs, although they acknowledged the uncertainty surrounding the timing and likelihood of reaching marketing authorization for therapeutic candidates. The company plans to continue investing in its technology platform and expanding its partnerships, which are crucial for future revenue growth. However, the reliance on partner success for revenue generation remains a significant risk, as the company does not control the clinical development or commercialization of the products developed using its technology.
Overall, while OmniAb faces challenges in revenue generation and profitability, its strategic initiatives and robust partner network position it for potential growth in the evolving biotechnology landscape.
About OmniAb, Inc.
OmniAb, Inc. licenses advanced antibody discovery technologies utilizing genetically engineered transgenic animals and AI-driven screening platforms. Its core offerings include diverse fully human antibody repertoires, high-throughput B cell screening, and bispecific antibody platforms. Serving pharmaceutical, biotech, and academic clients worldwide, OmniAb accelerates therapeutic development across multiple modalities, including antibodies, bispecifics, and ion channel targets, leveraging proprietary animal models and computational tools for efficient, high-quality drug candidate identification.
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