The company's financial position is increasingly vulnerable, with retained earnings deteriorating to -$173.9 million and goodwill representing 28.6% of total assets as of 2026Q1.
| Total Current Assets | 65.13M | 65.34M | 68.14M | 94.9M | 124.95M | 22.54M | 16.65M | 7.79M |
| Cash & Short-Term Investments | 49.07M | 54.02M | 59.43M | 86.98M | 88.27M | 0 | 0 | 0 |
| Cash Only | 29.05M | 25.52M | 27.6M | 16.36M | 33.39M | 0 | 0 | 0 |
| Short-Term Investments | 20.03M | 28.5M | 31.84M | 70.63M | 54.88M | 0 | 0 | 0 |
| Accounts Receivable | 12.64M | 7.39M | 5.27M | 3.84M | 30.29M | 21.14M | 15.88M | 7.77M |
| Days Sales Outstanding | 81.52 | 144.51 | 72.91 | 41.07 | 187.14 | 222.02 | 249.03 | 154.9 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 3.41M | 3.93M | 3.43M | 4.07M | 6.39M | 1.41M | 774K | 21K |
| Total Non-Current Assets | 228.53M | 235.57M | 257.42M | 280.32M | 296.26M | 281.92M | 278.73M | 254.53M |
| Property, Plant & Equipment | 24.07M | 24.97M | 33.28M | 38.13M | 41.46M | 20.13M | 5.98M | 4.32M |
| Fixed Asset Turnover | 1.06x | 0.75x | 0.79x | 0.90x | 1.42x | 1.73x | 3.89x | 4.24x |
| Goodwill | 83.98M | 83.98M | 83.98M | 83.98M | 83.98M | 83.98M | 83.98M | 77.11M |
| Intangible Assets | 119.12M | 125.15M | 138.06M | 155.47M | 167.24M | 176.32M | 186.64M | 172.98M |
| Long-Term Investments | 560K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.35M | 1.47M | 2.1M | 2.75M | 3.58M | 1.5M | 2.13M | 115K |
| Total Assets | 293.65M | 300.91M | 325.56M | 375.23M | 421.21M | 304.46M | 295.38M | 262.32M |
| Asset Turnover | 0.10x | 0.06x | 0.08x | 0.09x | 0.14x | 0.11x | 0.08x | 0.07x |
| Asset Growth % | -30.59% | -7.57% | -13.24% | -10.92% | 38.34% | 3.08% | 12.6% | - |
| Total Current Liabilities | 13.57M | 16.25M | 15.09M | 23.12M | 26.02M | 20.58M | 14.28M | 6.14M |
| Accounts Payable | 1.65M | 1.88M | 2.3M | 4.41M | 2.97M | 2.92M | 469K | 806K |
| Days Payables Outstanding | 36.26 | 31.09 | - | - | - | - | - | - |
| Short-Term Debt | 3.94M | 3.88M | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 8.72M | 3.16M | 2.34M | 6.85M | 8.21M | 10.79M | 7.16M | 0 |
| Other Current Liabilities | 5.03M | 7.33M | 6.67M | 7.8M | 8.18M | 4.92M | 3.79M | 4.55M |
| Current Ratio | 4.80x | 4.02x | 4.52x | 4.11x | 4.80x | 1.10x | 1.17x | 1.27x |
| Quick Ratio | 4.80x | 4.02x | 4.52x | 4.11x | 4.80x | 1.10x | 1.17x | 1.27x |
| Cash Conversion Cycle | 45.26 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 17.44M | 17.63M | 22.85M | 37.52M | 53.82M | 49.58M | 45.57M | 38M |
| Long-Term Debt | 15.73M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 51.6M | 16.45M | 19.38M | 22.07M | 24.02M | 13.27M | 2.01M | 2.27M |
| Deferred Tax Liabilities | 5.5M | 785K | 2.31M | 11.35M | 21.34M | 21.96M | 28.93M | 0 |
| Other Non-Current Liabilities | 481K | 393K | 1.04M | 3.23M | 4.13M | 5.12M | 6.4M | 35.72M |
| Total Liabilities | 31M | 33.89M | 37.94M | 60.64M | 79.84M | 70.16M | 59.84M | 44.13M |
| Total Debt | 19.67M | 20.33M | 23.16M | 25.56M | 25.8M | 13.85M | 2.59M | 2.58M |
| Net Debt | -9.38M | -5.19M | -4.43M | 9.2M | -7.59M | 13.85M | 2.59M | 2.58M |
| Debt / Equity | 0.07x | 0.08x | 0.08x | 0.08x | 0.08x | 0.06x | 0.01x | 0.01x |
| Debt / EBITDA | -0.56x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.27x | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | -4906.14x | -4710.60x | - |
| Total Equity | 262.65M | 267.03M | 287.62M | 314.58M | 341.37M | 234.31M | 235.54M | 218.19M |
| Equity Growth % | -26.95% | -7.16% | -8.57% | -7.85% | 45.69% | -0.52% | 7.95% | - |
| Book Value per Share | 2.05 | 2.35 | 2.81 | 3.16 | 4.00 | 2.04 | 2.05 | 1.90 |
| Total Shareholders' Equity | 262.65M | 267.03M | 287.62M | 314.58M | 341.37M | 234.31M | 235.54M | 218.19M |
| Common Stock | 14K | 14K | 12K | 12K | 12K | 0 | 0 | 218.19M |
| Retained Earnings | -173.89M | -166.18M | -101.4M | -39.37M | 11.25M | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -2K | 12K | 27K | 50K | 9K | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Rapid Cash Reserve Depletion
As indicated by the latest quarterly balance sheet, OABI's total assets have contracted from $375.2 million in 2023Q4 to $293.6 million in 2026Q1, reflecting a consistent downward trend in the company's resource base as persistent operating losses continue to erode the overall equity position.
The steady decline in total assets suggests that the company is consuming its capital base to fund ongoing R&D and operational overhead. Investors should monitor whether this trajectory stabilizes as the company attempts to transition toward a more sustainable royalty-based revenue model.
Based on reported financial statements, OABI's cash reserves have fluctuated significantly, ending 2026Q1 at $29.0 million, which represents a precarious buffer given the company's history of high quarterly cash burn and the inherent lumpiness of its milestone-dependent revenue streams in the biotechnology sector.
While the current ratio of 4.80 appears healthy on the surface, it masks the underlying reality of a business that lacks consistent operating cash flow. The company's reliance on milestone payments creates significant liquidity risk if partner-led clinical programs face delays or terminations.
According to the provided balance sheet data, OABI's retained earnings have deteriorated sharply from -$39.4 million in 2023Q4 to -$173.9 million in 2026Q1, underscoring the substantial cumulative impact of operating losses on the company's total equity base over the last ten quarters.
This rapid accumulation of deficit suggests that the company's current business model has yet to achieve the necessary scale to offset its fixed cost structure. The erosion of equity warrants further investigation into the potential for future dilutive financing to maintain operations.
As reported in recent filings, goodwill remains a static $84.0 million on the balance sheet, representing approximately 28.6% of total assets as of 2026Q1, which may pose a significant impairment risk if the underlying transgenic platform fails to generate expected long-term commercial royalty streams.
The persistence of this large intangible asset despite declining revenue and negative operating margins suggests that the carrying value may be optimistic. Investors should consider the potential for future write-downs if the platform's competitive advantage does not translate into tangible clinical successes.
Quick answers to the most common questions about buying OABI stock.
As of 2025, OmniAb, Inc. (OABI) had total assets of $300.9M including $65.3M in current assets.
OmniAb, Inc. (OABI) carries total debt of $20.3M, offset by $54.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
OmniAb, Inc. (OABI) has total shareholders' equity (book value) of $267.0M ($2.35 book value per share). Book value represents the net worth of the company belonging to common stock holders.
OmniAb, Inc. (OABI) reported a current ratio of 4.02x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.