| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 87.84 | 12.5% | 43.1% |
| Total Income | 87.84 | 12.5% | 43.1% |
| Expenditure | 84.29 | 1.8% | 28.3% |
| PBT | 5.29 | 278.1% | 199.6% |
| Net Profit | 5.29 | 278.1% | 199.6% |
| OPM | 4.04% | 10.17pp | 11.12pp |
| NPM | 6.03% | 9.83pp | 14.68pp |
| EPS | 0.09 | 280.0% | 137.5% |
Omada Health Reports Q2 2026 Results and Announces CEO Transition
07 Aug 2026 · 7 Aug, 1:40 am
Summary
Omada Health announced strong financial results for the second quarter of 2026, with revenue growing 43% year over year to $88 million and total members increasing by 45%. The company achieved a record gross margin of 73% and reported a net income of $5 million, a substantial turnaround from a net loss in the prior year. Management also announced a CEO transition, with Sean Duffy moving to Executive Chairman and Wei-Li Shao succeeding him as CEO effective January 1, 2027. The company raised its full-year 2026 financial outlook, anticipating approximately 30% revenue growth and a fourfold increase in adjusted EBITDA.
Key Highlights
- 1
Omada Health reported revenue of $88 million for the second quarter of 2026, a 43% increase year over year.
- 2
Total members increased by 45% year over year, driven by strong demand across its integrated cardiometabolic care platform.
- 3
Gross margin reached a new quarterly record of 73% in the second quarter of 2026, up from 66% in Q2 2025.
- 4
The company achieved a net income of $5 million in the second quarter of 2026, a significant improvement from a net loss of $5 million in Q2 2025.
- 5
Adjusted EBITDA was $11 million in the second quarter of 2026, compared to an adjusted EBITDA loss of $0.2 million in Q2 2025.
- 6
The company raised its full-year 2026 outlook, now expecting revenue growth of approximately 30% year-over-year and a fourfold increase in adjusted EBITDA.
Management Comments
Sean Duffy
Our outstanding second quarter reflects the strength of our strategy, the momentum we've built across the business, and the exceptional team driving Omada forward. Reflecting continued demand for our integrated between-visit care platform, total members increased 45% year over year as we expanded our commercial channels, deepened relationships with our leading PBM channels, and introduced our cholesterol management program with one of the nation’s largest retailers. The opportunity ahead is significant, and we'll remain focused on disciplined execution as we look to broaden our capabilities, deepen customer relationships and improve the health of even more members. Over the past seven years, Wei-Li and I have worked together to build a strong company as Wei-Li has steadily increased his scope of responsibility. His track record of delivering innovation, commercial wins, and strong financial growth has shaped Omada and demonstrates that Wei-Li is the right leader to take Omada to the next level of impact and scale.
Wei-Li Shao
I'm honored to lead Omada and continue building on the strong foundation this incredible team has created. Fifteen years ago, Sean designed an innovative solution to help Americans bridge the healthcare gap. Together, we've shown the model works, yet I believe our biggest impact is still ahead. Our results serve as a foundation to raise our ambitions. Now is the time to scale, push harder on our mission, and bend the curve of chronic disease.
Steve Cook
We delivered another strong quarter, setting quarterly records for revenue of $88 million, GAAP gross margin of 73%, non-GAAP gross margin of 74%, net income of $5 million, and adjusted EBITDA of $11 million. Revenue grew 43% year-over-year. This marks Omada Health’s most profitable quarter to date, both in absolute terms and on a margin basis, demonstrating continued operating leverage. At the midpoint, our raised full‑year outlook represents approximately 30% year‑over‑year revenue growth and a fourfold increase in adjusted EBITDA, reflecting our extraordinary second‑quarter performance and our path of sustainable profitability.
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