Omada Health (OMDA) Q2 2026 earnings summary

Executive summary

• Achieved record quarterly revenue of $88 million in Q2 2026, up 43% year-over-year, with total members up 45% and gross margin reaching 73%; net income was $5 million, reversing a prior year loss, and adjusted EBITDA reached $11 million.

• Leadership transition announced: President Wei-Li Shao to become CEO in January 2027, with founder Sean Duffy moving to Executive Chair.

• Expanded partnerships, notably with HCSC, and launched a standalone cholesterol care track and new prescribing program, with first customer revenue expected in 2027.

• Q2 capped an exceptional first half of 2026, with broad-based growth across programs and channels.

• Operating expenses increased due to investments in R&D, sales and marketing, and general and administrative functions to support growth.

Financial highlights

• Q2 2026 revenue reached $88 million, up from $61 million in Q2 2025, representing 43% year-over-year growth; gross margin expanded to 73% (GAAP) and 74% (non-GAAP).

• Net income was $5 million in Q2 2026, compared to a net loss of $5 million in Q2 2025; adjusted EBITDA was $11 million, up from a loss of $0.2 million.

• Cash and cash equivalents stood at $222 million as of June 30, 2026, with no debt.

• Gross profit for the quarter was $63.8 million, up 58% year-over-year.

• Weighted-average diluted shares outstanding for the quarter were 63.9 million.

Outlook and guidance

• Raised full-year 2026 revenue guidance to $334–$340 million, implying about 30% growth over 2025; adjusted EBITDA guidance increased to $21–$27 million, about four times 2025 results at the midpoint.

• Expect growth rate to moderate in the second half due to seasonality, with next major enrollment inflection in 2027.

• Early evidence of market demand for new prescribing offerings, with first customer closed and revenue anticipated in 2027.

• Investments will continue in technology, Care Team efficiency, and new program offerings, including GLP-1 prescribing capabilities.

• Current liquidity is expected to be sufficient to fund operations for at least the next 12 months.