OmniAb, Inc. reported its financial results for the second quarter ended June 30, 2025, on August 6, 2025. Total revenue for Q2 2025 was $3.9 million, a decrease from $7.6 million in Q2 2024, primarily due to a $1.8 million decline in milestone revenue and reduced service revenue from a discontinued small-molecule ion channel program.
These decreases were partially offset by $0.6 million in xPloration revenue from instrument sales and consumables, a new revenue stream. The company reported a net loss of $15.9 million, or $0.15 per share, for Q2 2025, compared to a net loss of $13.6 million, or $0.13 per share, in Q2 2024.
For the first half of 2025, total revenue was $8.1 million, down from $11.4 million in the same period of 2024, with a net loss of $34.1 million, or $0.32 per share. As of June 30, 2025, OmniAb had $41.6 million in cash, cash equivalents, and short-term investments.
OmniAb affirmed its 2025 revenue guidance of $20 million to $25 million and operating expense guidance of $85 million to $90 million. The company continues to expect lower cash use in 2025 compared to $38.9 million in 2024, excluding ATM issuance.
Operationally, OmniAb reached a significant milestone of 100 active partners and 381 active programs as of June 30, 2025. The company entered into six new license agreements in Q2 2025 and completed an asset-based sale with Angelini Pharma for a small molecule Kv7.2 program, receiving a $3 million upfront payment and potential milestones over $170 million.
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