Omada Health Posts $75.85M Q4 Revenue, Record 73% Margin and $5M Profit
Omada Health delivered Q4 2025 revenue of $75.85 million, flat year-over-year but 3.9% above consensus, with EPS of $0.13 versus $0.03 expected and GAAP net income of $5 million versus an $8 million loss a year earlier. Adjusted gross margin hit a record 73%, and membership rose 55% to 886,000.
1. Q4 Financial Performance
Omada Health reported Q4 2025 revenue of $75.85 million, in line year-over-year and 3.9% above consensus estimates. EPS reached $0.13 versus $0.03 expected, delivering GAAP net income of $5 million compared to a loss of $8 million last year.
2. Margin Expansion Drivers
GAAP gross margin improved to 71% from 67%, while adjusted gross margin hit an all-time high of 73%. Management credited multi-condition program growth, care-team efficiencies enabled by platform and AI tools, and optimized staffing for spreading fixed costs over a larger revenue base.
3. Membership and Service Metrics
Total members grew 55% to 886,000 by year-end, surpassing the 860,000 forecast. Service revenue of $71.65 million outpaced estimates, with hardware revenue at $4.2 million slightly below the $4.96 million projection.
4. Outlook and New Programs
For 2026, revenue is guided to $312–$322 million and adjusted EBITDA to $7–$15 million, excluding contributions from GLP-1 prescribing, Flex Care and new cholesterol initiatives. The company scaled GLP-1 companion care to over 150,000 members and launched Flex Care for employers without drug coverage.