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1 Q3 2026 Financial Results & Business Update Nasdaq: OABI October 30, 2026
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2 We caution you that this presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, including our financial guidance for 2026, business strategy, our expectations regarding the application and value of, and the rate and degree of market acceptance of, our technology platform and other technologies, our or our partners’ expectations regarding the addressable markets for our technologies or their product candidates, as applicable, including the growth rate of the markets in which we operate, our competitive advantage and the growth prospects of our business, the scalability of our business, our ability to leverage the growth of our business and to do so efficiently, the timing of the initiation or completion of preclinical studies and clinical trials by our partners, expectations regarding potential safety and therapeutic benefits of our partners’ product candidates, whether they could be first- in-class or best-in-class, product approvals and potential for future revenue growth, launches by our partners and the timing thereof, the anticipated introduction of new technologies and innovations and enhancement of our technology stack and partners' experiences, the continued innovation around and the expected performance of our technologies and the opportunities and earnings and cash flow accretion they may create, the ability to add new partners and programs, the scientific presentations and clinical and regulatory events of our partners and the timing thereof, the potential for and timing of receipt of milestones and royalties under our license agreements with partners, the potential durability of revenues, and our 2026 financial are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. The inclusion of forward-looking statements should not be regarded as a representation by us that any of our plans will be achieved. Actual results may differ from those set forth in this presentation due to the risks and uncertainties inherent in our business, including, without limitation: our future success is dependent on acceptance of our technology platform and technologies by new and existing partners, as well as on the eventual development, approval and commercialization of products developed by our partners for which we have no control over the development plan, regulatory strategy or commercialization efforts; biopharmaceutical development is inherently uncertain, risks arising from changes in technology; the competitive environment in the life sciences and biotechnology platform market; risks associated with quality and timing in manufacturing our xPloration instruments and related consumables and our reliance on a limited number of third-party manufacturers and suppliers; our failure to maintain, protect and defend our intellectual property rights; difficulties with performance of third parties we will rely on for our business; government healthcare reform, legislative measures and regulatory developments in the United States and foreign countries; unstable market and economic conditions, may have serious adverse consequences on our business, financial condition and stock price; the potential impact of tariffs, trade policies, geopolitical instability and conflicts, inflation and interest rate changes; we may not achieve our financial guidance; our operating expenses may be higher than we anticipate, including if we decide to engage in activities not currently in our plan or if we face unexpected, or higher than anticipated expenses; we may use our capital resources sooner than we expect; we may not achieve our financial guidance; and other risks described in our press releases and filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made, and except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Information regarding partnered products and programs comes from reports or information publicly released by our partners and have not been independently verified by OmniAb. For our definitions of “active partners,” “active programs,” “active clinical programs and approved products” and “approved products”, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on March 4, 2026. This presentation also contains estimates and other statistical data made by independent parties and by us and/or our partners relating to market size and growth and other data about the antibody industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions, and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. Non-GAAP Financial Measures: This presentation contains a forward-looking non-GAAP financial measure, cash costs and operating expense. We believe this financial measure provides useful information to investors with which to analyze our operating trends and performance. However, non-GAAP financial measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation from GAAP to such non-GAAP financial measure is provided in our most recent earnings press release, which is available in the Investors section of our website at investors.omniab.com and includes additional information on the use of such measure. Disclaimer
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3 Introduction Matt Foehr
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4 Q3 Highlights OmniTides platform launch extends to new high-value markets xPloration®, now available to all customers, creating broader market and growth potential Differentiated technology platforms driving growth and progression of partnerships and programs Continued business performance resulting in another raise to our 2026 revenue and cash guidance
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5 OmniAb Technologies INNOVATION THAT ENABLES THE DISCOVERY OF NEXT GENERATION THERAPEUTICS Create Screen Deliver Custom In Vivo Libraries for Antibody & Peptide Discovery High Throughput Identification of Hits Prioritization of Candidates Conventional Antibodies Common Light Chain for Bispecific Antibodies Single Domain Antibodies High Throughput Functional Screening of Ion Channel Targets Custom Bioinformatics NGS-Guided Hit Expansion Binding Kinetics Epitope Binning Single Cell Phenotypic Screening Peptides Suite of in silico tools for discovery that are woven throughout our various technologies and capabilities. Includes structural modeling, large multi-species antibody databases, molecular dynamics simulations, AI, machine and deep learning sequence models, and more Ultralong CDRH3 Antibodies 0.01 0.1 1 10 1 10 100 1000 Target Potency (µM) Target Selectivity BIOLOGICAL INTELLIGENCE
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6 Discovery 75% Commercial 21% Academic 4% US 56% Europe 22% APAC 21% Middle East 1% 0 50 100 Active Partners • 111 Active Partners as of 9/30/2026 • New licenses added in Q3 included Yemaya, Inc. and Monash University. New additions balanced by the business combination of two existing OmniAb partners (3) • 9 of the 10 largest global big pharma companies are Active Partners(5) Number of Active Partners(1)(2) Partner Type Partner Location(4) n=111 n=111 111 (1) See our SEC filings for Active Partners definition (2) Values shown net of attrition (3) On July 6, 2026, Incyte (Nasdaq: INCY) announced it had closed the deal to acquire all outstanding shares of Vega Therapeutics, Inc., from Star Therapeutics LLC (4) Partner location is based on partner headquarters (5) Top-10 largest global pharma companies based on 2025 reported sales
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7 407 (12) 38 433 433 0 200 400 Active Programs • 433 Active Programs as of 9/30/2026 • >98% of our Active Programs have contracted future economics to OmniAb • Over $3 billion in total contracted potential milestones (2) • Average royalty rate of ~3.4% across portfolio (3) Number of Active Programs(1) YTD 2026 Change in Active Programs (1) See our SEC filings for Active Programs definition (2) Total contracted milestones for standard antibody licenses associated with Active Programs (3) Excludes prepaid licenses and grandfathered licenses, all Ion Channel programs, and programs from Academic Partner/Revenue Share licenses where the economics to OmniAb will be linked to the future transaction with the developmental/commercial entity. For programs with tiered royalties, the royalty rate is calculated as a blended royalty assuming $1.3B sales level.
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8 Active Clinical Programs and Approved Products • 34 active clinical programs and approved products as of 9/30/2026 • Four new clinical additions so far in 2026, others expected in the near-term • Active clinical programs have ~$340 million in remaining potential milestones to OmniAb (1) See our SEC filings for Active Clinical Programs and Approved Products definition (2) Values shown net of attrition Number of Active Clinical Programs and Approved Products(1)(2) 34 0 15 30
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9 Clinical and Commercial-Stage Partner Pipeline(1)(2) ONLY PROGRAMS WITH DOWNSTREAM ECONOMICS ARE SHOWN (1) Program placement is based on most advanced status in any geography, market, or indication (2) Figure excludes any Clinical and Commercial-Stage Active Partner programs that do not have future or remaining economics to OmniAb, e.g., Teclistamab (TECVAYLI®), Tiragolumab, Etentamig (ABBV-383), Surovatamig (AZD0486), NTB-928 (also known as TNB-298) (3) Arcus Biosciences evaluating zimberelimab in combination with multiple molecules within the Arcus portfolio (see www.arcus.com) (4) Ramantamig is also referred to as JNJ-79635322 by Johnson & Johnson Innovative Medicines, reference J&J company disclosures and clinicaltrials.gov; Precemtabart tocentecan is also referred to as M9140 by Merck KGaA; IMVT- 1402 is also referred as Imeroprubart by Hanall Biopharma (5) Program derived from OmnidAb® (single domain Chicken technology) or from OmniChicken® Phase 1 Phase 1/1b Phase 1/2 Phase 2 Phase 3 Registration Approved Gloria Biosciences, Arcus Biosciences, Gilead Zimberelimab(3) PD-1 r/r Hodgkin’s lymphoma (China) r/r Cervical cancer (China) CStone Pharmaceuticals, EwoPharma, Arrotex, Pfizer Sugemalimab PD-L1 Non-small cell lung cancer (UK, EU, China) Extranodal NK/T-cell lymphoma (China) Esophageal squamous cell carcinoma (China) Gastric or gastroesophageal junction adenocarcinoma (China) Hanall Biopharma, Harbour Biomed, CSPC Batoclimab FcRn Myasthenia gravis (China) Phase 3 trial: Thyroid eye disease (Japan) Teva TEV-’408 IL-15 Celiac disease Vitiligo Johnson & Johnson Ramantamig(4) BCMAxGPRC5DxCD3 Multiple Myeloma Gloria Biosciences Brivestobart LAG-3 Servier (Symphogen) S095018 TIM-3 Servier (Symphogen) S095024 CD73 Servier (Symphogen) S095029 NKG2A AS OF 9/30/2026 Salubris SAL003 PCSK9 Hypercholesterolemia and combined hyperlipidemia (China) Hanall Biopharma Immunovant IMVT-1402(4) FcRn Myasthenia gravis GD, D2T-RA, CIDP, Sjögren's disease Phase 1 1/1b 1/2 CessationTherapeutics CSX1004 Fentanyl Teva, Fosun TEV-’278(5) PD-1/IL-2 Johnson & Johnson JNJ-87562761 Undisclosed Seismic Therapeutics S-4321(5) PD-1:FcyRIIb Innolake ILB2101 CD40 Aptevo Therapeutics Mipletamig CD123 x CD3 Rondo Therapeutics RNDO-564 CD28 x Nectin-4 Boehringer Ingelheim BI 765179(5) CD137 x FAP Zhikang Hongyi (Biocity) BC3425 4-1BB CTTQ Pharma TQB2223 LAG-3 Johnson & Johnson JNJ-70218902 TMEFF2 x CD3 Zhikang Hongyi (Biocity) BC3195 CDH3 Genmab GEN1079 Undisclosed Merck KGaA M5542 CTLA4-OX40L Undisclosed Undisclosed(5) Undisclosed Undisclosed Undisclosed(5) Undisclosed Undisclosed Merck KGaA Precemtabart tocentecan(4) CEACAM-5 ADC Colorectal cancer Boehringer Ingelheim BI 3802876(5) Undisclosed MASH
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10 Select Partner Updates(1) IMVT-1402 FcRn Immunovant expects to provide further updates on the potentially registrational IMVT-1402 difficult-to- treat rheumatoid arthritis program in the second half of calendar year 2026. In calendar year 2027, topline data are anticipated for the potentially registrational trials evaluating IMVT-1402 in Graves’ disease and myasthenia gravis. Topline data are expected to follow in calendar year 2028 for the potentially registrational trials of IMVT-1402 in chronic inflammatory demyelinating polyneuropathy and Sjögren’s disease. Precemtabart tocentecan CEACAM5 ADC TEV-’408 IL-15 Teva Pharmaceuticals announced positive topline results from an ongoing Phase 2a study of TEV-’408, an investigational anti-interleukin-15 monoclonal antibody, in adults with celiac disease. The study met its primary endpoint, demonstrating statistically significant and clinically meaningful prevention of gluten- induced intestinal damage versus placebo at week 8. TEV-’408 was well-tolerated, with no safety signals observed to date. At week 8 TEV-‘408 showed statistically significant and clinically meaningful prevention of gluten- induced intestinal damage versus placebo, as measured by the trial’s primary endpoint of Vh:Cd ratio with a least squares (LS) mean change from baseline of -0.43 compared with -0.88 for placebo (treatment difference of 0.45, 95% CI: (0.06, 0.84), p<0.05). At the American Society of Clinical Oncology (ASCO) Gastrointestinal Cancers Symposium, pooled data on precemtabart tocentecan, a novel anti-CEACAM5 antibody-drug conjugate with a topoisomerase 1 inhibitor payload, from the PROCEADE-CRC-01 study in patients with metastatic colorectal cancer were presented that showed an objective response rate of 26.8% and median progression-free survival of 6.9 months. The overall safety profile was consistent with earlier data with no new or unexpected treatment- emergent adverse events. Based on this Phase 1 data, Merck KGaA advanced precemtabart tocentecan directly to Phase 3 in metastatic colorectal cancer in the second quarter. (1) Reference partner disclosures and clinicaltrials.gov Batoclimab FcRn Harbour BioMed announced that the National Medical Products Administration (NMPA) of China has approved the Biologics License Application for batoclimab injection, for the treatment of generalized myasthenia gravis (gMG) in adult patients who are anti-acetylcholine receptor (AChR) antibody positive. Pursuant to the license agreement entered into between Harbour BioMed and NBP Pharma, commercialization of batoclimab in the Greater China region will be conducted by NBP Pharma, a subsidiary of CSPC Pharmaceutical Group Batoclimab was originally developed by HanAll Biopharma Co., Ltd. and licensed to Harbour BioMed in 2017 under a strategic collaboration and license agreement.
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11 OmniAb’s Pillars of Value OmniAb is well-positioned to deliver for our stakeholders, with highly differentiated technologies and multiple ways to efficiently drive value Pipeline & Partnerships Substantial contracted downstream milestones & royalties from growing portfolio of potential best-in-class/first- in-class programs Our broad and growing base of partnerships provides unique vantage point on the industry, and informs our priorities Discovery Technologies Expanding suite of innovative technologies that continue to drive partnering and program additions Chicken-based technologies driving new partnerships and creating new avenues for value creation xPloration Platform Differentiated instrument platform creates opportunity to expand our reach Adds durable and meaningful revenue streams Synergistic with, and complementary to, existing discovery technology license offerings and business revenue model
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12 xPloration Amechi Nwachuku
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13 xPloration Higher Throughput(1) Easier to Use More Robust Lower Cost (1) Cyto-Mine® / Beacon® platforms, screening up to 80,000 single cells. Cyto-Mine® Chroma | Fully-automated single cell analysis platform, Optofluidic Product Suite - Bruker Cellular Analysis Value Drivers Include: • Consistently positive feedback from users including Big Pharma, global CROs, and specialty biotech ‒ Live demos converting interest into placements • Unit placement and sale in Q3 to a top big pharma A growing qualified sales pipeline and market research support our outlook for xPloration
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14 xPloration Revenue Streams Anchors the customer relationship and install base Drives downstream recurring revenue Instruments Recurring, usage-based revenue that scales with adoption High margin Consumables Expands value as workflows and applications grow Annual license renewals create predictable ARR Software Supports uptime, retention, and repeat purchases Multi-year service contracts on install base Service Capital sale of the xPloration system Proprietary chips and materials used each run Analysis and data management subscriptions Installation, training, and preventive maintenance
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15 xPloration POSITIONED TO DELIVER DURABLE REVENUE STREAMS Expected xPloration Revenue $2-$3 • xPloration revenue is expected to double in 2027 and to double again in 2028 • Recurring revenue is expected to become a long-term growth driver in millions
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16 Financial Updates Kurt Gustafson
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17 Q3 2026 Revenue • License and Milestone revenue decreased due to a decrease in license fee revenue • xPloration revenue increased on higher instrument sales and related consumables • Service revenue increased primarily due to increased work performed on antibody and ion channel programs $ in millions Royalty Royalty Service Service License & Milestone License & Milestone xPloration xPloration $2.2 $4.0 $0 $2 $4 Q3 2025 Q3 2026
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18 September 2026 YTD Revenue • License and Milestone revenue increased primarily due to an increase in milestone revenue • xPloration revenue increased on higher instrument sales and related consumables • Service revenue increased due to increased work performed on antibody and ion channel programs $ in millions Royalty Royalty Service Service License & Milestone License & Milestone xPloration xPloration $10.3 $31.8 $0 $10 $20 $30 2025 September YTD 2026 September YTD
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19 Q3 2026 Costs and Operating Expense (GAAP) • R&D expense decreased primarily due to lower personnel expense related to share-based compensation and salary expense and lower facility-related costs • G&A expense increased primarily due to higher external expenses, including legal and other public company expenses and was partially offset by lower personnel expense related to share-based compensation • Other expense increased primarily as a result of higher cost of xPloration revenue from higher instrument sales and changes to contingent liabilities associated with certain ion channel programs $ in millions R&D R&D G&A G&A Other Other $20.4 $20.4 $0 $10 $20 Q3 2025 Q3 2026
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20 September 2026 YTD Costs and Operating Expense (GAAP) • R&D expense decreased primarily due to lower personnel expense related to share-based compensation and salary expense, lower external expenses primarily from certain antibody programs, and lower facility-related costs • G&A expense decreased primarily due to lower personnel expenses related to share-based compensation and salaries • Other expense increased due to three factors: ‒ A gain recorded in Q2 2025 on an ion channel asset sale reduced expense in the prior year period ‒ A non-cash write-off in Q1 2026 related to certain legacy small molecule ion channel intangible assets ‒ Increased cost of xPloration revenue associated with higher instrument sales $ in millions R&D R&D G&A G&A Other Other Write-off (Q1) $63.5 $62.7 $0 $30 $60 2025 YTD 2026 YTD
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21 Q3 2026 and September 2026 YTD Financial Results Table includes rounded figures. Please reference press release dated 10/30/2026 for more detailed information. (in millions, except per share data) Q3 2025 Q3 2026 Variance 2025 YTD 2026 YTD Variance License and milestone revenue $ 0.6 $ 0.1 ($ 0.5) $ 3.9 $ 21.6 $ 17.7 Service revenue 1.2 2.8 1.6 5.0 7.4 2.4 xPloration revenue 0.1 0.7 0.6 0.7 1.9 1.2 Royalty revenue 0.4 0.4 (0.0) 0.7 0.9 0.2 Total revenue 2.2 4.0 1.8 10.3 31.8 21.5 Cost of xPloration revenue 0.0 0.3 0.3 0.3 0.9 0.6 Research & development 10.4 9.6 (0.8) 33.8 28.8 (5.0) General & administrative 6.8 7.2 0.5 22.4 20.5 (1.9) Amortization of intangibles 3.2 3.1 (0.2) 9.7 12.1 2.4 Other operating expense (income), net (0.0) 0.2 0.2 (2.7) 0.3 3.0 Total costs and operating expenses 20.4 20.4 (0.0) 63.5 62.7 (0.8) Loss from operations (18.1) (16.4) 1.8 (53.2) (30.8) 22.4 Other income (expense), net 0.5 0.5 0.1 1.5 1.5 0.0 Loss before income taxes (17.7) (15.9) 1.8 (51.7) (29.3) 22.4 Income tax benefit (expense) 1.2 0.1 (1.0) 1.1 0.0 (1.1) Net loss ($ 16.5) ($ 15.7) $ 0.8 ($ 50.6) ($ 29.3) $ 21.3 Net loss per share, basic and diluted ($ 0.14) ($ 0.12) ($ 0.46) ($ 0.23) Shares used in per share calculation 114.7 129.3 108.9 128.8
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22 Q3 2026 Cash Costs and Operating Expense (Non-GAAP) GAAP TO NON-GAAP RECONCILIATION Cash Costs and Operating Expense = GAAP Costs and Operating Expense less stock-based compensation, depreciation and amortization of intangibles. Refer to OmniAb’s Q3 2026 Earnings Release for GAAP to non-GAAP reconciliation. Table includes rounded figures. Please reference press release dated 10/30/2026 for more detailed information. (in millions) Q3 2025 Q3 2026 2025 YTD 2026 YTD Costs and operating expenses (GAAP) $20.4 $20.4 $63.5 $62.7 Less: Depreciation of property and equipment 0.9 0.6 2.7 1.7 Less: Amortization of intangible assets 3.2 3.1 9.7 12.1 Less: Share-based compensation 4.0 3.1 12.2 9.6 Cash costs and operating expenses (Non-GAAP) $12.3 $13.7 $38.9 $39.2
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23 Balance Sheet Table includes rounded figures. Please reference press release dated 10/30/2026 for more detailed information. (in millions) December 31, September 30, 2025 2026 ASSETS Current assets: Cash & investments $ 54.0 $ 64.2 Accounts receivable, net 7.4 2.6 Other current assets 3.9 4.2 Goodwill & intangible assets 209.1 197.0 PPE & leases 25.0 21.8 Other assets 1.5 1.1 Total assets $ 300.9 $ 290.9 LIABILITIES AND STOCKHOLDERS’ EQUITY A/P & accrued expenses $ 8.2 $ 6.9 Contingent liabilities 1.4 1.0 Deferred revenue 3.2 15.0 Operating lease liabilities 20.3 18.1 Deferred income taxes, net 0.8 0.8 Stockholders’ equity 267.0 249.1 Total liabilities and stockholders’ equity $ 300.9 $ 290.9
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24 Updated 2026 Guidance • We now expect Total Revenue to be in the range of $35 to $39 million • We now expect Costs and Operating Expense to be in the range of $83 to $87 million • We now expect Cash Costs and Operating Expense(1) to be in the range of $50 to $54 million • We now expect year-end cash balance to be in the range of $53 to $57 million • Full Year effective tax rate is expected to be ~0% due to a valuation allowance (1) Cash Costs and Operating Expense = GAAP Costs and Operating Expense less stock-based compensation, depreciation and amortization of intangibles. Refer to OmniAb’s Q3 2026 Earnings Release for GAAP to non-GAAP reconciliation.
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25 -$38.9 -$33.3 -$1 to -$5 -$1 to +$3 -$60 -$40 -$20 $0 $20 2024 2025 2026 2026 $60.3 $51.7 $51-$55 $50-$54 $0 $50 $100 2024 2025 2026 2026 $100.9 $87.6 $84-$88 $83-$87 $0 $50 $100 2024 2025 2026 2026 $26.4 $18.7 $32-$36 $35-$39 $0 $20 $40 2024 2025 2026 Prior… 2026 New… Strong Financial Performance UPDATE TO 2026 GUIDANCE Costs & Operating Expense Net Cash FlowRevenue in millions Cash Costs & Operating Expense(1) (1) Cash Costs and Operating Expense = GAAP Costs and Operating Expense less stock-based compensation, depreciation and amortization of intangibles. Refer to OmniAb’s Q3 2026 Earnings Release for GAAP to non-GAAP reconciliation. 2026 2026 2026 20262026 2026 2026 2026 in millions in millions
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26 Q&A
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