Omniab, Inc. (OABI) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Professional & Commercial Services · as of Sep 25, 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
4
Forensic signals
-13.7
P / E (ttm)
-24.3%
ROE
$696M
Market cap
0.00%
Dividend yield
-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, going concern, valuation). 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. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-21.0%
FY2025
Return on invested capital.Return on invested capital is -21.0% in the latest fiscal year and slipping across FY2023–FY2025 from -16.3%. After-tax operating profit was ($55M) in FY2023 and ($54M) in FY2025, with operating income at -203.2% of revenue in FY2023, -282.3% in FY2024 and -369.5% in FY2025. The capital base behind it came down -23% across FY2023–FY2025, from $336M to $259M, so this is a return struck on a smaller base rather than a record of money put to work.
+6.8%/yr
FY2023–FY2025
Share-count dilution.Diluted share count changed +14% over the last 2 years to FY2025 (+6.8%/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 ~6.8% 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 FY2023 has been diluted ~12%.
85% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 85% of revenue in FY2025 — about $0.14 per diluted share. No cash left the business to pay it, which is why operating cash flow adds it back. Net of repurchases the diluted count still rose about 6.9% a year and that rate is not falling, so total profit has to grow by that much annually before any of it reaches a share. Stock compensation is one source of that issuance; acquisition consideration, equity raises, convertibles and other employee plans also net into the count, and these figures do not separate them.
145d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 73 to 145 days FY2024→FY2025 (receivables +40% vs revenue -29%). Across FY2023–FY2025 the day count ran 41 → 73 → 145 days — the latest step continues a climb that was already under way, which is the persistence that separates a collection problem from a busy quarter. 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. Both figures are measured on period-end balances rather than the beginning-plus-ending average, because averaging needs the balance a year before every reading — FY2024's opening balance is on file, but across the 3 fiscal years read here (FY2023–FY2025) the average yields only 2 day counts (1 step), too few to tell a climb from one year's move.
Key fundamentals
Latest Revenue$18.7M
Revenue Growth YoY-29.3%
Revenue CAGR (2yr)-26.1%
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?