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- **Program Growth**: 399 active programs, 36 net additions YTD, with xPloration and OmniUltra driving new partnerships.
- **xPloration Momentum**: Early revenue from consumables and services, with 2026 instrument sales on the horizon.
- **OmniUltra Innovation**: Transgenic chicken platform for ultra-long CDRH3s, targeting peptide therapeutics and novel antibody formats.
- **Financial Resilience**: $59.5M cash post-private placement, with 2025 guidance for $18-22M revenue and $82-86M expenses.
- **Clinical Pipeline**: One OmnidAb-derived program entered trials, signaling new technology potential.

**【CEO Summary Section】**
- Active partners reached 104, with 399 active programs as of Q3, up 36 year-to-date. New programs added at a record pace, with Q3 additions surpassing 2024 totals.
- xPloration partner access program generated early revenue, with strong interest in its efficiency and ease of use. Consumables and service contracts are expected to drive recurring revenue.
- OmniUltra, a transgenic chicken platform producing ultra-long CDRH3s, is set to launch in December. It targets peptide therapeutics and novel antibody formats, opening new therapeutic opportunities.
- One OmnidAb-derived program entered clinical trials post-quarter end, marking a milestone for the new technology.

**【CFO Financial Commentary】**
- Q3 2025 revenue was $2.2 million, down 48% YoY due to reduced milestones and service revenue. xPloration contributed to offsetting declines.
- Operating expenses decreased to $20.4 million (from $23.9 million YoY), driven by cost reductions and headcount adjustments.
- Cash balance of $59.5 million after a $30 million private placement, with updated 2025 guidance: revenue $18-22 million, operating expenses $82-86 million.

**【Q&A Highlights】**
- **xPloration Demand**: High interest from top-tier partners, with demos aligning with 2026 capital spend planning. Instrument sales and consumables expected to boost earnings.
- **OmniUltra Launch**: Scheduled for December, targeting peptide discovery and antibody innovation. Beta testing completed, with potential for service revenue growth.
- **Milestone Delays**: Several programs pushed to 2026 due to partner priorities, though program additions remain strong.
- **Royalty Outlook**: SAL003 (anti-PCSK9) in China for 2026 launch; IMVT-1402 and acasunlimab expected to drive long-term royalty growth.

OmniAb, Inc. (OABI) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

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Operating Expenses

Selling, General and Administrative Expenses

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OABI

OABI fundamentals

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