OMNIAB INC Reports Earnings Results for 2nd Quarter of Fiscal Year 2023
August 14, 2023
🌥️Earnings Overview
For the second quarter of Fiscal Year 2023, OMNIAB INC ($NASDAQ:OABI) reported total revenue of USD 7.0 million, a decrease of 3.5% from the same quarter of the prior year. Net income for the period was recorded at USD -14.7 million, compared to a loss of -10.3 million in the corresponding quarter of the prior year.
Price History
On Thursday, OMNIAB INC reported its earnings results for the second quarter of its fiscal year 2023. The company’s stock opened at $5.9 and closed at $5.8, down 0.2% from its previous closing price of $5.8. While OMNIAB Inc‘s stock price decreased slightly on Thursday, investors still remain optimistic about the company’s strong quarterly results and potential growth in the future.
The company stated that it is continuing to invest in research and development to further its innovative products and services. OMNIAB Inc expects to continue to report strong financial performance for the remainder of the fiscal year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Omniab Inc. More…
| Total Revenues | Net Income | Net Margin |
| 66.12 | -26.6 | -40.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Omniab Inc. More…
| Operations | Investing | Financing |
| 6.29 | -94.47 | 109.72 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Omniab Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 405.24 | 71.43 | 2.87 |
Key Ratios Snapshot
Some of the financial key ratios for Omniab Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 47.7% | – | -50.2% |
| FCF Margin | ROE | ROA |
| -5.6% | -6.1% | -5.1% |
Analysis
GoodWhale has conducted an analysis of OMNIAB INC‘s wellbeing and concluded that it is strong in terms of asset and growth, but weak in dividend and profitability. OMNIAB INC has a high health score of 7/10 with regard to its cashflows and debt; this score suggests that it is capable to safely ride out any crisis without the risk of bankruptcy. When we took a closer look at OMNIAB INC’s performance, we found that it is classified as a ‘cheetah’ company. This means that the company has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given its performance, we would recommend OMNIAB INC to investors that are looking for high returns in the short to medium term but are comfortable with accepting a slightly higher degree of risk. These investors may include venture capitalists, private equity firms, and angel investors. More…
Peers
It focuses on developing therapeutics and technologies for the treatment of diseases. The company has a number of competitors, including Neurobiological Technologies Inc, Avax Technologies Inc, and ChitogenX Inc. All of these companies are dedicated to finding new and innovative treatments for various illnesses and diseases.
– Neurobiological Technologies Inc ($OTCPK:NTII)
Neurobiological Technologies Inc is a biopharmaceutical company focused on neuroscience. The company researches and develops treatments for neurological disorders, including Alzheimer’s disease and Huntington’s disease. Its market cap as of 2023 is 5.43M and its Return on Equity is 14.25%, showing that the company is making use of its resources to generate a solid return for its shareholders. Neurobiological Technologies Inc appears to be a reliable investment.
– Avax Technologies Inc ($OTCPK:AVXT)
Avax Technologies Inc is a technology-based company that specializes in providing small and medium enterprises with solutions for their business processes. As of 2023, the company has a market cap of 6.42 million dollars and a Return on Equity of 8.26%. The market cap of Avax Technologies Inc has remained relatively stable since its inception, providing investors with confidence in the company’s long-term performance. The Return on Equity of 8.26% reflects the company’s ability to generate income from its investments and is indicative of its profitability. By investing in Avax Technologies Inc, investors can benefit from their technology-based solutions and strong financial performance.
– ChitogenX Inc ($OTCPK:CHNXF)
ChitogenX Inc is a biotechnology company that specializes in developing treatments for cancer and other serious diseases. The company has a market capitalization of 6.96M as of 2023. This value is obtained by multiplying the current share price by the total number of outstanding shares owned by investors. This market cap reflects the value of all of ChitogenX’s assets and its potential to generate income in the future. The company’s Return on Equity, or ROE, stands at 33.27%, which is higher than the industry average. This indicates that ChitogenX is investing capital effectively and creating value for shareholders.
Summary
Investors should be cautious when considering investing in OMNIAB INC, as the company reported a 3.5% decrease in revenue year over year for the second quarter of 2023, along with an operating loss of USD 14.7 million. The performance of the company in the quarter was worse than the prior year loss of -10.3 million. Prospective investors should conduct a thorough analysis of the company’s financials to ascertain the risk and potential rewards of investing in the firm.
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