Forensic Analysis · Professional & Commercial Services · as of Aug 11, 2026
Omniab, Inc. (OABI)
A forensic read on Omniab, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Safe
Financial health
10.3
Distress distance
Clean
Earnings quality
5
Forensic signals
-24.3%
ROE
$486M
Market cap
-29.3%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Omniab, Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads 10.3, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by inventory days.
What the filings flag
16d
FY2024→FY2025
Inventory days.Days inventory outstanding moved from 1 to 16 FY2024→FY2025 (against revenue (COGS not disclosed); inventory +1615% vs -29% in revenue). Inventory is outrunning what's being sold — a flag for softening demand or obsolescence risk ahead. There's no FY2023 figure on file for inventory, so FY2024 has no opening balance to average against — both figures are measured on period-end balances rather than the beginning-plus-ending average, since averaging only the current year would make the move track balance-sheet growth rather than the business.
-21.0%
FY2025
Return on invested capital.Return on invested capital is -21.0% in the latest fiscal year and slipping from -6% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+10.0%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +33% over the last 3 years to FY2025 (+10.0%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~10.0% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~25%.
85% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 85% of revenue in FY2025 — about $0.14 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 10.2% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
Key fundamentals
Latest Revenue$18.7M
Revenue Growth YoY-29.3%
Net Margin-347.0%
Free Cash Flow-$37.0M
Return on Equity-24.3%
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Omniab, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.
Omniab, Inc. (OABI) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
124d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 63 to 124 days FY2024→FY2025 (receivables +40% vs revenue -29%). Across FY2022–FY2025 the day count ran 159 → 182 → 63 → 124 days, so the latest reading sits on top of a record that was flat or falling before it — one year's move, not a direction the business has been travelling in. Receivables grew, but deferred revenue grew +35% over the same period too — rising alongside rising unearned revenue reads as upfront billing on multi-period contracts, not slipping collections.