OmniAb (OABI)
Market Price (6/22/2026): $2.33 | Market Cap: $298.8 MilSector: Health Care | Industry: Biotechnology
OmniAb (OABI)
Market Price (6/22/2026): $2.33Market Cap: $298.8 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Advanced Diagnostics, Biopharmaceutical R&D, Show more. | Weak multi-year price returns2Y Excs Rtn is -83%, 3Y Excs Rtn is -124% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -61 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -211% Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 52% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -88%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -90% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -22% Key risksOABI key risks include [1] its precarious financial health and heavy reliance on the commercial success of its partners, Show more. |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Advanced Diagnostics, Biopharmaceutical R&D, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -83%, 3Y Excs Rtn is -124% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -61 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -211% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -11% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 52% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -88%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -90% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -22% |
| Key risksOABI key risks include [1] its precarious financial health and heavy reliance on the commercial success of its partners, Show more. |
Qualitative Assessment
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OmniAb (OABI) stock has gained about 35% since 2/28/2026 because of the following key factors:
1. OmniAb reported significantly stronger-than-expected fiscal Q1 2026 financial results, which ended March 31, 2026. The company's revenue surged to $14.4 million, a 242.9% increase from $4.2 million in fiscal Q1 2025, handily surpassing analyst estimates of $5.60 million. Additionally, OmniAb's net loss improved to $7.7 million, or $0.06 per share, beating the consensus estimate of a $0.10 per share loss by 41.18%.
2. The company raised its full-year 2026 financial guidance following a robust fiscal Q1 2026 performance. OmniAb increased its 2026 revenue guidance to a range of $28 million to $33 million, up from previous projections of $25 million to $30 million. This upward revision was primarily driven by an unanticipated partner milestone and also included an improved outlook for year-end cash and cash equivalents, now expected to be between $33 million and $38 million, an increase from the prior $30 million to $35 million outlook.
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OmniAb (OABI) stock has gained about 35% since 2/28/2026 because of the following key factors:
1. OmniAb reported significantly stronger-than-expected fiscal Q1 2026 financial results, which ended March 31, 2026. The company's revenue surged to $14.4 million, a 242.9% increase from $4.2 million in fiscal Q1 2025, handily surpassing analyst estimates of $5.60 million. Additionally, OmniAb's net loss improved to $7.7 million, or $0.06 per share, beating the consensus estimate of a $0.10 per share loss by 41.18%.
2. The company raised its full-year 2026 financial guidance following a robust fiscal Q1 2026 performance. OmniAb increased its 2026 revenue guidance to a range of $28 million to $33 million, up from previous projections of $25 million to $30 million. This upward revision was primarily driven by an unanticipated partner milestone and also included an improved outlook for year-end cash and cash equivalents, now expected to be between $33 million and $38 million, an increase from the prior $30 million to $35 million outlook.
3. Accelerated partner program advancements and a robust pipeline contributed to the positive trend. As of March 31, 2026, OmniAb maintained 107 active partners and 409 active programs, with 32 OmniAb-derived programs in clinical development or commercialization. The company reported over $3 billion in total contracted milestones, with approximately $350 million specifically tied to clinical-stage programs. Notably, one OmniAb-derived program advanced into Phase 3 trials, and another into Phase 1 human testing during fiscal Q1 2026, with expectations for multiple new clinical entrants later in 2026.
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Stock Movement Drivers
Fundamental Drivers
The 36.0% change in OABI stock from 2/28/2026 to 6/21/2026 was primarily driven by a 37.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282026 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.72 | 2.34 | 36.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 21 | 29 | 37.2% |
| P/S Multiple | 9.4 | 10.4 | 10.9% |
| Shares Outstanding (Mil) | 115 | 128 | -10.5% |
| Cumulative Contribution | 36.0% |
Market Drivers
2/28/2026 to 6/21/2026| Return | Correlation | |
|---|---|---|
| OABI | 36.0% | |
| Market (SPY) | 9.2% | 28.2% |
| Sector (XLV) | -6.4% | 26.3% |
Fundamental Drivers
The 29.3% change in OABI stock from 11/30/2025 to 6/21/2026 was primarily driven by a 37.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 11302025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.81 | 2.34 | 29.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 21 | 29 | 37.2% |
| P/S Multiple | 9.8 | 10.4 | 5.3% |
| Shares Outstanding (Mil) | 115 | 128 | -10.5% |
| Cumulative Contribution | 29.3% |
Market Drivers
11/30/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| OABI | 29.3% | |
| Market (SPY) | 9.9% | 28.5% |
| Sector (XLV) | -4.4% | 21.4% |
Fundamental Drivers
The 84.3% change in OABI stock from 5/31/2025 to 6/21/2026 was primarily driven by a 106.7% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.27 | 2.34 | 84.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 27 | 29 | 8.2% |
| P/S Multiple | 5.0 | 10.4 | 106.7% |
| Shares Outstanding (Mil) | 106 | 128 | -17.6% |
| Cumulative Contribution | 84.3% |
Market Drivers
5/31/2025 to 6/21/2026| Return | Correlation | |
|---|---|---|
| OABI | 84.3% | |
| Market (SPY) | 28.1% | 30.8% |
| Sector (XLV) | 14.6% | 30.9% |
Fundamental Drivers
The -45.8% change in OABI stock from 5/31/2023 to 6/21/2026 was primarily driven by a -23.1% change in the company's P/S Multiple.| (LTM values as of) | 5312023 | 6212026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.32 | 2.34 | -45.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 37 | 29 | -21.3% |
| P/S Multiple | 13.5 | 10.4 | -23.1% |
| Shares Outstanding (Mil) | 115 | 128 | -10.5% |
| Cumulative Contribution | -45.8% |
Market Drivers
5/31/2023 to 6/21/2026| Return | Correlation | |
|---|---|---|
| OABI | -45.8% | |
| Market (SPY) | 85.7% | 29.5% |
| Sector (XLV) | 22.9% | 29.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| OABI Return | - | 49% | 71% | -43% | -48% | 10% | -16% |
| Peers Return | -44% | -47% | 22% | -18% | -19% | 33% | -68% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 98% |
Monthly Win Rates [3] | |||||||
| OABI Win Rate | - | 100% | 58% | 25% | 42% | 17% | |
| Peers Win Rate | 31% | 35% | 47% | 40% | 48% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| OABI Max Drawdown | - | - | -29% | -48% | -68% | -34% | |
| Peers Max Drawdown | -63% | -63% | -62% | -51% | -55% | -36% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ABCL, XNCR, TWST, SDGR, RXRX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/18/2026 (YTD)
How Low Can It Go
| Event | OABI | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -21.2% | -9.5% |
| % Gain to Breakeven | 27.0% | 10.5% |
| Time to Breakeven | 15 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -15.9% | -6.7% |
| % Gain to Breakeven | 18.8% | 7.1% |
| Time to Breakeven | 18 days | 31 days |
In The Past
OmniAb's stock fell -1.7% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 1.7% gain to breakeven.
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Asset Allocation
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| Event | OABI | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -21.2% | -9.5% |
| % Gain to Breakeven | 27.0% | 10.5% |
| Time to Breakeven | 15 days | 24 days |
In The Past
OmniAb's stock fell -1.7% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 1.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About OmniAb (OABI)
OmniAb, trading under the symbol OABI, currently operates as a Special Purpose Acquisition Company (SPAC). Its fundamental business model revolves around identifying and executing a merger, share exchange, share purchase, reorganization, or similar business combination to acquire existing assets and businesses. The company does not possess significant operations of its own.
As a SPAC, OmniAb does not offer traditional products or services. Instead, its primary function is to serve as a vehicle for a private company to become publicly traded. The company has a focused strategy, specifically targeting and pursuing businesses within the healthcare industry for its acquisition efforts.
Therefore, OmniAb's "market" primarily consists of private healthcare companies seeking to enter the public market through a business combination. Its "customers" can be seen as the investors who fund its operations and anticipate a successful merger with a promising healthcare entity.
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- Strategic Business Acquisition: The company's primary service involves identifying, evaluating, and executing business combinations, such as mergers or share exchanges, with target companies, particularly within the healthcare industry.
- Public Listing Vehicle: It provides a mechanism for private companies to become publicly traded through a merger with its public shell entity.
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Major customers include:
- Astellas Pharma (TYO: 4503)
- Amgen (NASDAQ: AMGN)
- Bristol Myers Squibb (NYSE: BMY)
- Sanofi (NASDAQ: SNY)
- Merck KGaA (ETR: MRK)
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Matt Foehr is the President and Chief Executive Officer of OmniAb, joining in November 2022. He has over 25 years of experience in the pharmaceutical industry. Previously, he served as President and Chief Operating Officer at Ligand Pharmaceuticals from 2015 to 2022. Prior to Ligand, he was Vice President and Head of Consumer Dermatology R&D and Acting Chief Scientific Officer of Dermatology at the Stiefel division of GlaxoSmithKline (GSK), where he led the R&D integration following GSK's acquisition of Stiefel in 2009. He also held senior roles at Stiefel Laboratories and Connetics Corporation.
Kurt Gustafson Chief Financial Officer
Kurt Gustafson has served as OmniAb's Executive Vice President, Finance and Chief Financial Officer since March 2022, joining in preparation for the company's spin-off and business combination. He has a history of managing finance for publicly traded biopharmaceutical companies, having previously served as Executive Vice President and Chief Financial Officer of Spectrum Pharmaceuticals, Inc. since 2013, and as Vice President and Chief Financial Officer at Halozyme Therapeutics, Inc. before that. Earlier in his career, Mr. Gustafson spent over 18 years at Amgen Inc., holding various finance leadership roles, including Treasurer and CFO of Amgen International.
Charles Berkman Chief Legal Officer and Secretary
Charles Berkman has served as OmniAb's Chief Legal Officer and Secretary since March 2022, joining as the company prepared for its spin-off. Prior to OmniAb, he held several roles of increasing responsibility at Ligand Pharmaceuticals, including Senior Vice President, General Counsel, and Secretary from 2018 to 2022, and Vice President, General Counsel, and Secretary from 2007 to 2018. He joined Ligand in 2001 as Associate General Counsel and Chief Patent Counsel. Before joining Ligand, Mr. Berkman practiced intellectual property law at the international law firm Baker & McKenzie and Lyon & Lyon.
Todd Pettingill Vice President, Business Development and Strategy
Todd Pettingill is the Vice President of Business Development and Strategy at OmniAb. He previously worked at Ligand Pharmaceuticals starting in 2013, where he served in various capacities including Mergers and Acquisitions, Business Development, Strategy, and Investor Relations. During his tenure at Ligand, Mr. Pettingill was involved in or led more than 10 company and asset acquisitions or divestitures, some of which formed the scientific foundation and original business framework of OmniAb.
Bob Chen Vice President, Discovery Systems
Bob Chen is the Vice President of Discovery Systems at OmniAb and is responsible for leading the development of the company's xPloration® platform. Prior to OmniAb, Dr. Chen was the Chief Technology Officer and a co-Founder of xCella Biosciences, an antibody discovery and technology company. xCella Biosciences was acquired in 2020 and was founded based on scientific research from Stanford University and MIT.
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Reliance on Partner Success and Significant Cash Burn: OmniAb's business model is largely dependent on its partners successfully developing, achieving regulatory approval for, and commercializing therapeutic products derived from OmniAb's antibody discovery platforms. The company lacks direct control over these critical stages of drug development. This dependency, combined with OmniAb's current unprofitability and ongoing high operating expenses relative to its royalty income, results in a substantial cash burn. This financial dynamic may require OmniAb to seek additional capital before late-stage programs can meaningfully contribute to its revenue.
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Regulatory and Technological Obsolescence Risks to Core Business Model: OmniAb's core technology heavily utilizes proprietary transgenic animals for antibody discovery. A significant risk exists if evolving regulatory landscapes, such as a potential shift by the U.S. Food and Drug Administration (FDA) away from animal trials, were to undermine the foundational aspects of its business model. Additionally, the company faces intense competition from alternative antibody discovery platforms, including rapidly advancing artificial intelligence (AI)-driven technologies, which could necessitate increased research and development spending. Such competition could potentially erode OmniAb's market share and long-term profitability.
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Intellectual Property Protection: As a technology licensing company within the biotechnology sector, OmniAb's long-term business success is intrinsically tied to its ability to effectively maintain, protect, and defend its intellectual property rights against potential infringement and legal challenges.
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1. **Increased Competition from Alternative Public Listing Methods:** As private healthcare companies explore various avenues to go public, including traditional initial public offerings (IPOs) and direct listings, these alternative routes can become more attractive, efficient, or less costly. This trend threatens OmniAb's ability to find and secure a suitable acquisition target by diminishing the pool of potential private companies that might otherwise consider a de-SPAC transaction.
2. **Evolving Regulatory Environment and Diminished Investor Appetite for SPACs:** Increased scrutiny from financial regulators, such as the SEC, regarding SPAC structures, disclosures, and post-merger operations can make the de-SPAC process more complex, expensive, and potentially less appealing for both target companies and investors. Concurrently, a general decline in investor enthusiasm or confidence in the overall SPAC model can lead to higher redemption rates (investors withdrawing their capital before a merger closes) and make it more challenging for OmniAb to secure the necessary capital and shareholder approval for a successful business combination.
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OmniAb (NASDAQ: OABI) licenses discovery research platforms to pharmaceutical and biotechnology companies and academic institutions, enabling the discovery of next-generation therapeutics. Their main products and services revolve around their proprietary antibody discovery technology platforms, powered by engineered transgenic animals (e.g., OmniRat®, OmniMouse®, OmniChicken®) and AI/machine learning tools. These platforms facilitate the identification of optimal antibody candidates for human therapeutics, which are then developed into various antibody-based therapeutic modalities by their partners.
Addressable Markets:
- Global Antibody Discovery Services Market: This market, which directly relates to OmniAb's licensing and discovery services, was valued at approximately USD 9.06 billion in 2025 and is projected to reach about USD 22.28 billion by 2035, growing at a compound annual growth rate (CAGR) of 9.42% from 2026 to 2035. Another estimate places the global market at USD 1.90 billion in 2025, projected to grow to USD 3.54 billion by 2030, at a CAGR of 13.3%. The North American region held the largest share of this market, accounting for 36% in 2025.
- Global Antibody Therapeutics Market: This represents the broader market for the therapeutic drugs developed using technologies like OmniAb's. The global antibody therapy market was valued at approximately USD 314.64 billion in 2025 and is expected to reach around USD 951.24 billion by 2034, demonstrating a CAGR of 13.08%. Other estimates suggest the market was over USD 303.82 billion in 2025 and is projected to reach USD 1.04 trillion by 2035, with a CAGR of about 13.1% between 2026 and 2035. North America held a significant share of this market, with approximately 38% in 2024 and an estimated market size of USD 106.36 billion in 2023. The U.S. antibody therapy market alone was estimated at USD 83.71 billion in 2024 and is projected to grow to around USD 265.03 billion by 2034, with a CAGR of 12.22% from 2025 to 2034.
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Here are 3-5 expected drivers of future revenue growth for OmniAb (OABI) over the next 2-3 years:
- Expansion of Partner Network and Active Programs: OmniAb continues to grow its partner base and the number of active programs leveraging its technology. By the end of 2025, the company had collaborated with 107 partners and supported 407 active programs, marking a net increase of 44 programs during the year. More than 98% of these active programs carry future economic agreements, including over $3 billion in total contracted milestone payments and an average royalty rate of 3.4% across its portfolio, indicating a significant pipeline for future revenue generation.
- Launch and Adoption of New Technology Platforms (OmniUltra and xPloration):
- OmniUltra: The introduction of OmniUltra, a novel transgenic chicken platform, is anticipated to be a key growth catalyst. This platform, designed for ultra-long CDRH3 on a human antibody framework, is expected to attract new partners, initiate additional programs, and open up opportunities in peptide discovery.
- xPloration Platform: This platform enables high-throughput single B-cell screening directly in partners' laboratories. It is expected to contribute to revenue growth through increasing adoption and a robust pipeline of interested partners.
- Progression of Programs and Clinical Pipeline Advancements: The advancement of OmniAb's partnered programs through various development stages triggers milestone payments. In 2025, OmniAb recorded 25 advancement events, with one program reaching registration and 16 moving from discovery to preclinical development. The company currently has 32 active clinical programs and approved products, which hold over $350 million in remaining contracted milestone payments.
- Scalability of Differentiated Technology Platforms: Management emphasizes that OmniAb's differentiated platforms are highly scalable. This inherent scalability allows the company to efficiently add new programs without compromising operational effectiveness, thereby positioning OmniAb on a sustainable trajectory for future growth as it continues to expand its collaborations.
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Share Issuance
- OmniAb completed a private placement in August 2025, issuing approximately 21.25 million shares of common stock for gross proceeds of about $30 million, intended for general corporate purposes.
- In 2024, OmniAb raised $11.4 million in net proceeds through an At-The-Market (ATM) program, with most of the issuance occurring in the third quarter.
- OmniAb became an independent publicly traded company in November 2022 through a spin-off from Ligand Pharmaceuticals and a merger with Avista Public Acquisition Corp. II (APAC), which resulted in the issuance of OmniAb shares to Ligand shareholders and the public.
Inbound Investments
- Upon its formation in November 2022, Avista Capital Partners, the sponsor of APAC, agreed to invest up to $115 million in OmniAb, and Ligand contributed $15 million.
- The business combination that created OmniAb was structured to guarantee a minimum of $130 million in gross cash to the combined company at closing, with OmniAb expecting to have approximately $95 million in cash after redemptions and expenses.
- The private placement in August 2025, which generated approximately $30 million, included participation from new and existing investors, as well as officers and directors.
Capital Expenditures
- In 2025, OmniAb incurred a non-cash impairment charge of $3.9 million primarily related to certain small molecule ion channel property and equipment.
- As of the end of 2025, OmniAb had deployed two xPloration systems, indicating capital allocation towards its technology platforms.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| OmniAb Earnings Notes | 12/16/2025 | |
| OmniAb Stock Lost 14%, Buy Or Wait? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 9.09 |
| Mkt Cap | 1.4 |
| Rev LTM | 88 |
| Op Inc LTM | -181 |
| FCF LTM | -169 |
| FCF 3Y Avg | -124 |
| CFO LTM | -149 |
| CFO 3Y Avg | -90 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.2% |
| Rev Chg 3Y Avg | 11.3% |
| Rev Chg Q | 8.8% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Inc Chg LTM | 14.2% |
| Op Inc Chg 3Y Avg | -22.2% |
| Op Mgn LTM | -214.3% |
| Op Mgn 3Y Avg | -215.8% |
| QoQ Delta Op Mgn LTM | 1.4% |
| CFO/Rev LTM | -139.8% |
| CFO/Rev 3Y Avg | -135.4% |
| FCF/Rev LTM | -141.9% |
| FCF/Rev 3Y Avg | -141.1% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Providing discovery research technology to enable the discovery of next-generation therapeutics | 19 | 26 | 34 | ||
| License and milestone revenue | 39 | ||||
| Royalty revenue | 1 | ||||
| Service revenue | 19 | 20 | |||
| License fees | 4 | ||||
| Milestone revenue | 10 | ||||
| Total | 19 | 26 | 34 | 59 | 35 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Providing discovery research technology to enable the discovery of next-generation therapeutics | -65 | -62 | -51 |
| Total | -65 | -62 | -51 |
Price Behavior
| Market Price | $2.34 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 11/02/2022 | |
| Distance from 52W High | -14.0% | |
| 50 Days | 200 Days | |
| DMA Price | $1.97 | $1.80 |
| DMA Trend | up | up |
| Distance from DMA | 18.9% | 30.2% |
| 3M | 1YR | |
| Volatility | 76.9% | 63.4% |
| Downside Capture | 70.76 | 162.66 |
| Upside Capture | 134.60 | 163.33 |
| Correlation (SPY) | 24.2% | 31.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.80 | 1.07 | 1.49 | 1.48 | 1.69 | 1.07 |
| Up Beta | 5.31 | 1.17 | 0.57 | 0.88 | 1.62 | 0.84 |
| Down Beta | 4.41 | 1.99 | 3.29 | 1.41 | 1.60 | 1.19 |
| Up Capture | 656% | 262% | 238% | 254% | 313% | 72% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 15 | 22 | 32 | 58 | 114 | 331 |
| Down Capture | -947% | -211% | 63% | 134% | 133% | 108% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 5 | 17 | 28 | 58 | 114 | 378 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OABI | |
|---|---|---|---|---|
| OABI | 37.1% | 63.3% | 0.75 | - |
| Sector ETF (XLV) | 14.0% | 15.0% | 0.66 | 30.1% |
| Equity (SPY) | 26.5% | 12.4% | 1.61 | 31.5% |
| Gold (GLD) | 24.2% | 27.5% | 0.77 | 7.4% |
| Commodities (DBC) | 19.8% | 18.8% | 0.83 | -7.8% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.52 | 28.7% |
| Bitcoin (BTCUSD) | -40.0% | 42.4% | -1.08 | 17.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OABI | |
|---|---|---|---|---|
| OABI | -0.7% | 61.5% | 0.22 | - |
| Sector ETF (XLV) | 5.4% | 14.7% | 0.19 | 27.0% |
| Equity (SPY) | 13.5% | 17.1% | 0.62 | 27.5% |
| Gold (GLD) | 17.1% | 18.3% | 0.76 | 2.7% |
| Commodities (DBC) | 7.5% | 19.4% | 0.29 | 2.1% |
| Real Estate (VNQ) | 1.9% | 18.9% | 0.00 | 24.3% |
| Bitcoin (BTCUSD) | 11.0% | 54.2% | 0.40 | 9.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with OABI | |
|---|---|---|---|---|
| OABI | -0.3% | 61.5% | 0.22 | - |
| Sector ETF (XLV) | 9.4% | 16.6% | 0.46 | 27.0% |
| Equity (SPY) | 15.3% | 18.0% | 0.73 | 27.5% |
| Gold (GLD) | 12.3% | 16.1% | 0.63 | 2.7% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 2.1% |
| Real Estate (VNQ) | 5.3% | 20.7% | 0.22 | 24.3% |
| Bitcoin (BTCUSD) | 60.0% | 66.8% | 1.00 | 9.8% |
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Returns Analyses
Earnings Returns History
Updated 6/18/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | 12.9% | 49.0% | 55.1% |
| 3/4/2026 | 10.5% | 8.0% | -14.9% |
| 11/4/2025 | -3.7% | 8.8% | 31.8% |
| 8/6/2025 | -2.6% | 6.2% | -11.4% |
| 5/8/2025 | -8.3% | -1.3% | -4.5% |
| 3/18/2025 | -20.4% | -23.5% | -44.5% |
| 11/12/2024 | -9.4% | -14.5% | -10.9% |
| 8/8/2024 | -1.2% | -1.6% | -4.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 4 | 9 | 7 |
| # Negative | 11 | 6 | 8 |
| Median Positive | 7.8% | 8.0% | 20.0% |
| Median Negative | -5.2% | -1.5% | -11.2% |
| Max Positive | 12.9% | 49.0% | 55.1% |
| Max Negative | -20.4% | -23.5% | -44.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/7/2026 | 12.9% | 49.0% | 55.1% |
| 3/4/2026 | 10.5% | 8.0% | -14.9% |
| 11/4/2025 | -3.7% | 8.8% | 31.8% |
| 8/6/2025 | -2.6% | 6.2% | -11.4% |
| 5/8/2025 | -8.3% | -1.3% | -4.5% |
| 3/18/2025 | -20.4% | -23.5% | -44.5% |
| 11/12/2024 | -9.4% | -14.5% | -10.9% |
| 8/8/2024 | -1.2% | -1.6% | -4.2% |
| 5/9/2024 | 2.4% | -0.4% | 0.7% |
| 3/20/2024 | -5.2% | -0.6% | -13.8% |
| 11/9/2023 | -4.2% | 2.0% | 7.3% |
| 8/10/2023 | -5.5% | 1.2% | -8.3% |
| 5/11/2023 | -2.1% | 17.6% | 37.3% |
| 1/9/2023 | 5.2% | 10.1% | 14.7% |
| 11/15/2022 | -10.0% | 0.0% | 20.0% |
| SUMMARY STATS | |||
| # Positive | 4 | 9 | 7 |
| # Negative | 11 | 6 | 8 |
| Median Positive | 7.8% | 8.0% | 20.0% |
| Median Negative | -5.2% | -1.5% | -11.2% |
| Max Positive | 12.9% | 49.0% | 55.1% |
| Max Negative | -20.4% | -23.5% | -44.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 03/04/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/18/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/25/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 09/28/2022 | 10-12G/A |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 03/04/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/18/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/25/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/30/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 09/28/2022 | 10-12G/A |
Recent Forward Guidance
Updated 6/1/2026Latest: Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 28.00 Mil | 30.50 Mil | 33.00 Mil | 10.9% | Raised | Guidance: 27.50 Mil for 2026 | |
| 2026 Costs and operating expenses | 83.00 Mil | 85.50 Mil | 88.00 Mil | 3.6% | Raised | Guidance: 82.50 Mil for 2026 | |
| 2026 Cash costs and operating expenses | 50.00 Mil | 52.50 Mil | 55.00 Mil | 0 | Affirmed | Guidance: 52.50 Mil for 2026 | |
| 2026 Cash and cash equivalents | 33.00 Mil | 35.50 Mil | 38.00 Mil | 9.2% | Raised | Guidance: 32.50 Mil for 2026 | |
Prior: Q4 2025 Earnings Reported 3/4/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 25.00 Mil | 27.50 Mil | 30.00 Mil | 37.5% | Higher New | Guidance: 20.00 Mil for 2025 | |
| 2026 Costs and operating expenses | 80.00 Mil | 82.50 Mil | 85.00 Mil | -1.8% | Lower New | Guidance: 84.00 Mil for 2025 | |
| 2026 Cash costs and operating expenses | 50.00 Mil | 52.50 Mil | 55.00 Mil | ||||
| 2026 Cash and cash equivalents | 30.00 Mil | 32.50 Mil | 35.00 Mil | -39.8% | Lower New | Guidance: 54.00 Mil for 2025 | |
Insider Activity
Updated 6/18/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Foehr, Matthew W | President and CEO | Direct | Sell | 4072026 | 1.49 | 19,244 | 28,674 | 6,586,533 | Form |
| 2 | Gustafson, Kurt A | Executive VP, Finance and CFO | Direct | Sell | 4072026 | 1.49 | 6,913 | 10,300 | 389,610 | Form |
| 3 | Berkman, Charles S | Chief Legal Officer | Direct | Sell | 4072026 | 1.49 | 7,157 | 10,664 | 594,637 | Form |
| 4 | Gustafson, Kurt A | Executive VP, Finance and CFO | Direct | Sell | 2182026 | 1.71 | 9,301 | 15,905 | 459,735 | Form |
| 5 | Berkman, Charles S | Chief Legal Officer | Direct | Sell | 2182026 | 1.71 | 9,673 | 16,541 | 671,517 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Foehr, Matthew W | President and CEO | Direct | Sell | 4072026 | 1.49 | 19,244 | 28,674 | 6,586,533 | Form |
| 2 | Gustafson, Kurt A | Executive VP, Finance and CFO | Direct | Sell | 4072026 | 1.49 | 6,913 | 10,300 | 389,610 | Form |
| 3 | Berkman, Charles S | Chief Legal Officer | Direct | Sell | 4072026 | 1.49 | 7,157 | 10,664 | 594,637 | Form |
| 4 | Gustafson, Kurt A | Executive VP, Finance and CFO | Direct | Sell | 2182026 | 1.71 | 9,301 | 15,905 | 459,735 | Form |
| 5 | Berkman, Charles S | Chief Legal Officer | Direct | Sell | 2182026 | 1.71 | 9,673 | 16,541 | 671,517 | Form |
| 6 | Foehr, Matthew W | President and CEO | Direct | Sell | 2182026 | 1.71 | 30,843 | 52,742 | 7,529,604 | Form |
| 7 | Foehr, Matthew W | President and CEO | Direct | Sell | 2172026 | 1.70 | 20,754 | 35,282 | 7,438,838 | Form |
| 8 | Gustafson, Kurt A | Executive VP, Finance and CFO | Direct | Sell | 2172026 | 1.70 | 6,828 | 11,608 | 440,983 | Form |
| 9 | Berkman, Charles S | Chief Legal Officer | Direct | Sell | 2172026 | 1.70 | 6,990 | 11,883 | 652,159 | Form |
| 10 | Berkman, Charles S | Chief Legal Officer | Direct | Sell | 12092025 | 1.96 | 8,044 | 15,766 | 739,059 | Form |
| 11 | Gustafson, Kurt A | Executive VP, Finance and CFO | Direct | Sell | 12092025 | 1.96 | 23,922 | 46,887 | 495,268 | Form |
| 12 | Foehr, Matthew W | President and CEO | Direct | Sell | 12092025 | 1.96 | 13,666 | 26,785 | 8,545,763 | Form |
| 13 | Higgins, John L | Direct | Buy | 11102025 | 1.38 | 41,038 | 56,632 | 4,042,224 | Form | |
| 14 | Higgins, John L | Direct | Buy | 11102025 | 1.41 | 36,223 | 51,074 | 4,072,235 | Form |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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