OmniAb's Q2 2025 Earnings Call: Navigating Contradictions in xPloration Revenue and Partner Trends

xPloration revenue and impact on financial guidance, xPloration partnership and access program, partner and program growth trends are the key contradictions discussed in OmniAb's latest 2025Q2 earnings call.



Revenue and Earnings Trends:
- OmniAb reported revenue of $3.9 million for Q2 2025, a decrease compared to $7.6 million in Q2 2024.
- The decline was primarily due to lower milestones achieved and reduced service revenue, partially offset by new xPloration revenue.
- The net loss was $15.9 million or $0.15 per share, compared to a net loss of $13.6 million or $0.13 per share in Q2 2024.
- The decrease in revenue and net loss was influenced by reduced headcount and operational realignments.

Partnership and Program Growth:
- OmniAb ended Q2 with 100 active partners, signaling a steady diversification of its partner base.
- The number of active programs increased to 381, with a year-to-date net increase of 18 programs.
- The growth in partnerships and programs is attributed to the company's differentiated technology platform and ongoing innovation.

xPloration Partner Access Program Success:
- The xPloration Partner Access Program was launched, resulting in the sale and installation of an xPloration system within weeks.
- The program aims to create a new revenue stream through instrument sales, proprietary consumables, and subscription services.
- The success of the program is due to the market's embrace of lab automation and the xPloration system's superior screening throughput and ease of use.