OmniAb Inc Q1 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Puneet Souda - Leerink Partners - Analyst : Hi, you have micro entrepreneur. Thanks for taking my question. My first question has to do with the number of programs start this quarter. It's very strong. I think you've matched almost half of what you did all of last year. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 08, 2025 / 8:30PM, OABI.OQ - Q1 2025 OmniAb Inc Earnings Call I was wondering if you could attribute that to any particular trends, and whether the strength was balanced across geography or size of the partner, large pharma versus midcap.

Question: Puneet Souda - Leerink Partners - Analyst : Great, thank you. And then my second question has to do with the exploration platform. I just want to make sure I'm getting it right. So, this is exclusively for people who are our partners who are like have access to your broader platform and not just any theoretical pharma company. And I was just wondering, what the incremental cost associated with promoting this product will look like and how that balances with the decrease in OpEx sky that you have.

Question: Puneet Souda - Leerink Partners - Analyst : Thank you very much.

Question: Alex Hahn - Thruway Securities - Analyst : Hi, this is Alex Hahn from Thruway. I also have a question on the xPloration partner access program. I know you said that the number of potential partners is a little bit speculative at this point in time, but any color or any, benchmarks or, ceiling and floor numbers that you could give to put a boundary on that would be helpful. I imagine a lot of the partners would have their own machinery, so maybe they would have to make a decision on whether to upgrade and then how fast, with these partnership discussions happen with respect to the xPloration?Do you imagine that it's a, you email all the different partners and it could be sort of an instant roll out or, would it take some time to get up and running with each partner? Thanks.

Question: Alex Hahn - Thruway Securities - Analyst : Thanks. It's great to see all the progress in the development. Thanks.

Question: Joe Pantene - HC Wainwright. - Analyst : Hey guys, good afternoon. Thanks for taking the questions. So congrats on the xPloration public launch now and wanted to see if I can get a little more color. Obviously, you focused on a key element of the differentiation, and that was the time and throughput. Are there any other key differentiators to point to? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 08, 2025 / 8:30PM, OABI.OQ - Q1 2025 OmniAb Inc Earnings Call

Question: Joe Pantene - HC Wainwright. - Analyst : That's very helpful, actually. Thanks for that. And then I think for someone in the actual lab itself, even having the pitch of, less clogs can be very powerful. So, just as an addendum to prior question, wanted to see if you guys had any sort of views on the revenue opportunity number one. And then also, considering xPloration and the fact that you're a tech heavy company. First, it's nice to hear that the asset is made in the US, but when you look at the individual parts and also all of the supplies needed and what have you for your current platforms, I almost feel awkward in asking this question, but what are the impacts of tariffs right now and how do you consider this currently or potentially in the intermediate term?

Question: Joe Pantene - HC Wainwright. - Analyst : Great to hear. Thanks guys.

Question: Stephen Willey - Stifel, Nicolaus & Company, Incorporated - Analyst : Hi guys, this is Julian for Steve and congrats on your progress. I just have a question regarding xPloration platform. So, first of all, like I know I understand that it is available to existing partners through this partner access program. And I'm just wondering if there is any trend. I know that Matt just mentioned that there's been, like ongoing discussions with potential partners. So, is there any trend in terms of like targets that partners pursue or indications or even the size of the partners, partners like large versus small mid cap companies, etc? And second, like just out of like naive curiosity, would it also be possible in the future to extend this program to let's say like a new partners, not the current partner? So that would be my question. Thank you.

Question: Jacqueline Quinn - TD Cowen - Analyst : Hey, this is Jacque on for Brendan. Thanks for taking my question. I guess also on the bandwagon diving right into the xPloration Axis program, sounds really awesome. Do you intend to build out additional computational or, AI-driven platform offerings or data packages for customers as sort of a standalone partner SAS offering? And are there any specific models, data sets, or areas of white space that you think would be great for your platform to really dive into?

Question: Jacqueline Quinn - TD Cowen - Analyst : That's great. Thank you so much for the color, and I'll hold back for other people to join in.