Omada Health (OMDA) 44th Annual J.P. Morgan Healthcare Conference summary

Mission and care model

• Focused on bending the curve of chronic disease by providing between-visit care for conditions like diabetes, obesity, hypertension, and MSK disorders.

• Expanded offerings based on customer demand, emphasizing coordinated care and comorbidity management.

• Combines people-driven compassion with technology for scalable, personalized, and engaging care.

• High member engagement, with over 55% active at 12 months and 50% at two years.

• Robust clinical and economic validation, including 30 peer-reviewed publications and industry-first accreditations.

Financial performance and growth

• Reported $257 million in preliminary 2025 revenue, reflecting 52% year-over-year growth.

• Supports 886,000 active members, charging a recurring monthly fee per member.

• Achieved adjusted gross margin in the upper 60% range, with a long-term target of 70%+.

• Posted first adjusted EBITDA positive quarter in Q3 2025, with -2.4% LTM EBITDA margin, improving from nearly -70% in 2022.

• Growth strategy centers on expanding covered lives, improving enrollment effectiveness, and deepening member engagement.

Market strategy and customer relationships

• Go-to-market channels include self-insured employers, health plans, PBMs, and integrated health systems.

• Multi-product approach valued by customers, with 40-50% of new deals being multi-program sales.

• PBMs and health plans increasingly integrate offerings, including the GLP-1 Care Track.

• Medicare Advantage and government-sponsored plans seen as significant growth opportunities.

• Selling season for 2026 shows strong momentum, with double-digit growth in deal volume and increasing multi-product adoption.