OmniAb Q4 net loss $14.2M; FY 2025 revenue down 29% YoY; guides 2026 rev $25-30M

Revenue for 2025 was $18.7 million, compared with $26.4 million for 2024. The decline was primarily due to a decrease in license revenue of $2.5 million and milestone revenue of $1.6 million. Service revenue declined as a result of the completion or discontinuation of certain legacy small molecule ion channel programs. These decreases were offset by the addition of $0.8 million in xPloration revenue reflecting the sale of an instrument and related consumables. Cost of xPloration revenue was $0.3 million for 2025 and consisted of direct costs associated with the sale of the xPloration instrument and associated consumables. Research and development expense was $47.8 million for 2025 , compared with $55.1 million for 2024, primarily due to lower personnel expenses related to reduced headcount and share-based compensation expense, lower external expenses associated with legacy small molecule ion channel programs and a decline in contract research costs, partially offset by a $3.9 million i

Revenue for the fourth quarter of 2025 was $8.4 million, compared with $10.8 million for the same period in 2024, with the decrease primarily related to a decline in license revenue and service revenue, partially offset by an increase in milestone and royalty revenue and the addition of xPloration revenue . Research and development expense was $13.9 million for the fourth quarter of 2025, compared with $13.3 million for the same period in 2024, with the increase due to a $3.9 million impairment charge primarily related to certain small molecule ion channel property and equipment, partially offset by lower personnel expenses related to reduced headcount and share-based compensation expense, and lower external expenses associated with legacy small molecule ion channel programs. General and administrative expense was $6.8 million for the fourth quarter of 2025, compared with $7.4 million for the same period in 2024, with the decrease primarily due to lower share-based compensation expense

OmniAb expects 2026 revenue to be in the range of $25 million to $30 million, and costs and operating expenses to be in the range of $80 million to $85 million.