The balance sheet shows a strong current ratio of 4.80 but is under pressure from a $179.7 million accumulated deficit that has eroded equity to $260.3 million, with goodwill representing 29% of total assets.
OmniAb, Inc. (OABI) balance sheet — 7-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 |
|---|
| Total Current Assets | 66.01M | 65.34M | 68.14M | 94.9M | 124.95M | 22.54M | 16.65M | 7.79M |
| Cash & Short-Term Investments | 51.99M | 54.02M | 59.43M | 86.98M | 88.27M | 0 | 0 | 0 |
| Cash Only | 24.34M | 25.52M | 27.6M | 16.36M | 33.39M | 0 | 0 | 0 |
| Short-Term Investments | 27.66M | 28.5M | 31.84M | 70.63M | 54.88M | 0 | 0 | 0 |
| Accounts Receivable | 10.33M | 7.39M | 5.27M | 3.84M | 30.29M | 21.14M | 15.88M | 7.77M |
| Days Sales Outstanding | 79.43 | 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 | 2.13 | - | - | - | - | - | - | - |
| Other Current Assets | 3.69M | 3.93M | 3.43M | 4.07M | 6.39M | 0 | 774K | 21K |
| Total Non-Current Assets | 224.24M | 235.57M | 257.42M | 280.32M | 296.26M | 281.92M | 278.73M | 254.53M |
| Property, Plant & Equipment | 22.94M | 24.97M | 33.28M | 38.13M | 41.46M | 20.13M | 5.98M | 4.32M |
| Fixed Asset Turnover | 1.52x | 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 | 116.07M | 125.15M | 138.06M | 155.47M | 167.24M | 176.32M | 186.64M | 172.98M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.26M | 1.47M | 2.1M | 2.75M | 3.58M | 1.5M | 2.13M | 115K |
| Total Assets | 290.26M | 300.91M | 325.56M | 375.23M | 421.21M | 304.46M | 295.38M | 262.32M |
| Asset Turnover | 0.13x | 0.06x | 0.08x | 0.09x | 0.14x | 0.11x | 0.08x | 0.07x |
| Asset Growth % | -20.09% | -7.57% | -13.24% | -10.92% | 38.34% | 3.08% | 12.6% | - |
| Total Current Liabilities | 13.76M | 16.25M | 15.09M | 23.12M | 26.02M | 20.58M | 14.28M | 6.14M |
| Accounts Payable | 2.09M | 1.88M | 2.3M | 4.41M | 2.97M | 2.92M | 469K | 806K |
| Days Payables Outstanding | 36.13 | 31.09 | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 9.99M | 3.16M | 2.34M | 6.85M | 8.21M | 10.79M | 7.16M | 0 |
| Other Current Liabilities | 5.44M | 1.55M | 737K | 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 | 45.43 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 16.23M | 17.63M | 22.85M | 37.52M | 53.82M | 49.58M | 45.57M | 38M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 64.33M | 16.45M | 19.38M | 22.07M | 24.02M | 13.27M | 2.01M | 2.27M |
| Deferred Tax Liabilities | 4.06M | 785K | 2.31M | 11.35M | 21.34M | 21.96M | 28.93M | 0 |
| Other Non-Current Liabilities | 94K | 393K | 1.04M | 3.23M | 4.13M | 5.12M | 6.4M | 35.72M |
| Total Liabilities | 29.98M | 33.89M | 37.94M | 60.64M | 79.84M | 70.16M | 59.84M | 44.13M |
| Total Debt | 18.91M | 20.33M | 23.16M | 25.56M | 25.8M | 13.85M | 2.59M | 2.58M |
| Net Debt | -5.42M | -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 | -0.64x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.18x | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | -4906.14x | -4710.60x | - |
| Total Equity | 260.27M | 267.03M | 287.62M | 314.58M | 341.37M | 234.31M | 235.54M | 218.19M |
| Equity Growth % | -16.71% | -7.16% | -8.57% | -7.85% | 45.69% | -0.52% | 7.95% | - |
| Book Value per Share | 2.02 | 2.35 | 2.81 | 3.16 | 4.00 | 2.04 | 2.05 | 1.90 |
| Total Shareholders' Equity | 260.27M | 267.03M | 287.62M | 314.58M | 341.37M | 234.31M | 235.54M | 218.19M |
| Common Stock | 15K | 14K | 12K | 12K | 12K | 234.31M | 0 | 218.19M |
| Retained Earnings | -179.75M | -166.18M | -101.4M | -39.37M | 11.25M | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -20K | 12K | 27K | 50K | 9K | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
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.
Key Metrics
Top Statement Risk
Persistent operating losses and cash burn
Metrics are mathematically derived from official filings.
Balance Sheet Erosion from Sustained Losses
OmniAb's total assets have contracted by 18% from $352.6M in Q1 2024 to $290.3M in Q2 2026, driven by the accumulation of net losses that have ballooned the accumulated deficit to $179.7M, as reported in recent SEC filings.
The steady decline in total assets and equity reflects the company's pre-commercial stage, where operational cash burn is funded by the initial capital base. The trajectory suggests the balance sheet is being consumed to fund R&D and operations, a trend that will continue until the business achieves sustainable profitability or requires additional financing.
Adequate Liquidity Masked by Volatile Cash Position
Despite a strong current ratio of 4.80 in Q2 2026, OmniAb's cash position has been volatile, ranging from $10.9M to $29.0M over the past ten quarters, indicating that liquidity is highly sensitive to the timing of cash receipts and operational expenditures.
The high current ratio is primarily driven by a large receivables or other current asset base relative to minimal current liabilities. However, the fluctuating cash balance suggests that the company's operational cash flow is not yet stable enough to provide a predictable liquidity buffer, warranting close monitoring of quarterly cash generation.
Equity Base Diluted by Persistent Accumulated Deficit
Shareholders' equity has declined from $301.4M to $260.3M over the past ten quarters, with the accumulated deficit now representing 69% of total equity, a clear indication that retained losses are the primary driver of equity erosion.
The negative retained earnings balance, which has deepened by over $120M in this period, underscores the company's reliance on its initial equity capital to fund operations. This trend implies that future equity value creation is entirely dependent on achieving profitability, as the current equity base is being steadily consumed by operating losses.
Goodwill Concentration and Asset Quality Risk
Goodwill of $84.0M constitutes 29% of total assets and 32% of total equity, creating a significant concentration risk where any impairment would directly and materially erode the company's already weakened equity base.
The static goodwill balance suggests it is not being amortized but is subject to impairment testing. Given the company's history of volatile revenue and operating losses, investors should monitor for any indicators that the acquired intangible assets may not be generating the expected economic benefits, which could trigger a material write-down.