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Omada Health, Inc.
(NASDAQ:OMDA)
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Rating:68Neutral
Price Target:
$21.00
▲(2.29% Upside)
Action:Downgraded
Date:08/07/26
OMDA’s score is driven primarily by improving fundamentals and a highly constructive earnings update, including raised guidance, margin expansion, and recent profitability/operating leverage. Offsetting this, technical indicators remain weak (below key moving averages with negative MACD) and valuation is constrained by a negative P/E and no dividend support.
Positive Factors
Strong revenue and membership growth
Sustained double‑digit revenue and member growth reflects expanding demand from employers and payers for Omada’s chronic‑care programs. Growth increases recurring contracted revenue, improves bargaining power with large customers, and raises potential lifetime value from larger, stickier cohorts.
Negative Factors
Profitability not yet proven multi‑year
Although margins and GAAP profit improved recently, historical multi‑year profitability is not established. Reversion risks exist if growth slows or investments reaccelerate; sustained positive net income and ROE must be demonstrated to confirm durable earnings quality.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue and membership growth
Sustained double‑digit revenue and member growth reflects expanding demand from employers and payers for Omada’s chronic‑care programs. Growth increases recurring contracted revenue, improves bargaining power with large customers, and raises potential lifetime value from larger, stickier cohorts.
Read all positive factors
Omada Health, Inc. (OMDA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.18B
Dividend YieldN/A
Average Volume (3M)1.14M
Price to Earnings (P/E)―
Beta (1Y)1.81
Revenue Growth49.36%
EPS Growth83.76%
CountryUS
Employees916
SectorGeneral
Sector StrengthN/A
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)0.07
Shares Outstanding59,448,505
10 Day Avg. Volume1,187,912
30 Day Avg. Volume1,136,308
Financial Highlights & Ratios
PEG Ratio0.97
Price to Book (P/B)4.01
Price to Sales (P/S)3.54
P/FCF Ratio54.46
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$26.00Price Target Upside26.64% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)0.26
Revenue Forecast (FY)$327.98M
Omada Health, Inc. Business Overview & Revenue Model
Company Description
Omada Health is an American virtual health company that delivers evidence-based digital programs designed to manage common chronic ailments, including cardiometabolic, musculoskeletal, and behavioral health conditions, offering continuous support ...
How the Company Makes Money
Omada Health primarily makes money by selling access to its digital chronic care programs to organizational customers (e.g., employers and health plans) that sponsor the service for eligible members. Revenue is generally generated through contract...
Omada Health, Inc. Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial momentum: record revenue, significant margin expansion, profitability, rapid membership growth, AI-driven efficiency gains, product launches (GLP-1 prescribing, cholesterol), and raised full-year guidance. Noted risks include seasonal moderation in H2, employer uncertainty around GLP-1 coverage, early-stage channels that require execution, and some near-term margin moderation as investments annualize. Overall the positives are broad and material and management provided clear plans to scale and convert pipeline.Positive Updates
Record Quarter: Revenue and Profitability
Q2 revenue of $88 million, up 43% year-over-year and 13% sequentially; GAAP net income of $5 million vs a GAAP net loss of ~$5 million in Q2 last year (≈$11 million YoY improvement); adjusted EBITDA of $11 million (record), improving ~$11 million YoY.
Negative Updates
Second-Half Moderation and Seasonality
Management expects growth rate to moderate in H2 given seasonality (Q1 historically the strongest enrollment period) and an exceptionally strong first half; guidance assumes a more measured second half.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Quarter: Revenue and Profitability
Q2 revenue of $88 million, up 43% year-over-year and 13% sequentially; GAAP net income of $5 million vs a GAAP net loss of ~$5 million in Q2 last year (≈$11 million YoY improvement); adjusted EBITDA of $11 million (record), improving ~$11 million YoY.
Read all positive updates
Company Guidance
Omada raised full‑year 2026 guidance to $334–$340M revenue (prior $322–$330M; midpoint ≈ +30% vs 2025) and $21–$27M adjusted EBITDA (prior $14–$20M; midpoint ≈ +$18M vs 2025, ~4x 2025), citing a record Q2: $88M revenue (+43% YoY, +13% seq.), GAAP gross margin 73% (non‑GAAP 74%, +700/600 bps YoY), GAAP net income ≈ $5M and adjusted EBITDA ≈ $11M, ~1.1M members (+45% YoY) with trailing‑12‑month revenue/member $284 (vs $279 prior year), cost‑to‑serve down >10% YoY, non‑GAAP OpEx 62% of revenue (from 68%) and GAAP OpEx 69% (from 73%), 41% incremental adjusted‑EBITDA margin, and cash ≈ $222M with no debt; management cautioned H2 growth will moderate on normal seasonality and annualizing investments, and plans to update long‑term targets at Investor Day on Sept. 10.Omada Health, Inc. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 309.76M | 260.21M | 169.80M | 122.78M | 89.19M |
| Gross Profit | 211.21M | 170.94M | 102.88M | 69.97M | 42.79M |
| EBITDA | 11.75M | -4.75M | -37.83M | -58.36M | -63.99M |
| Net Income | 4.30M | -12.78M | -47.14M | -67.51M | -72.52M |
Balance Sheet | |||||
| Total Assets | 328.22M | 305.41M | 150.89M | 175.08M | 221.80M |
| Cash, Cash Equivalents and Short-Term Investments | 221.71M | 222.04M | 76.39M | 115.64M | 168.12M |
| Total Debt | 0.00 | 0.00 | 30.19M | 30.58M | 30.81M |
| Total Liabilities | 75.48M | 75.73M | 86.26M | 76.16M | 66.19M |
| Stockholders Equity | 252.74M | 229.68M | 64.63M | 98.92M | 155.60M |
Cash Flow | |||||
| Free Cash Flow | 6.37M | 16.93M | -38.04M | -52.66M | -71.70M |
| Operating Cash Flow | 11.85M | 18.25M | -34.18M | -49.74M | -68.98M |
| Investing Cash Flow | -8.11M | -5.83M | -3.86M | -2.92M | -2.72M |
| Financing Cash Flow | -15.45M | 133.22M | -1.21M | 179.00K | 16.32M |
Omada Health, Inc. Technical Analysis
Positive
20.53
Price Trends
23.38
Positive
Market Momentum
0.94
Negative
72.91
Negative
91.40
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OMDA, the sentiment is Positive. The current price of 20.53 is below the 20-day moving average (MA) of 24.43, below the 50-day MA of 23.38, and equal to the 200-day MA of ―, indicating a neutral trend. The MACD of 0.94 indicates Negative momentum. The RSI at 72.91 is Negative, neither overbought nor oversold. The STOCH value of 91.40 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OMDA.
Omada Health, Inc. Risk Analysis
Omada Health, Inc. disclosed 82 risk factors in its most recent earnings report. Omada Health, Inc. reported the most risks in the "Ability to Sell" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
We have a history of net losses, and we may not be able to consistently achieve or maintain profitability in the future. Q1, 2026
2.
We have a limited operating history and have grown significantly in a short period of time. If we fail to manage our growth effectively, our business could be materially and adversely affected. Q1, 2026
3.
We operate in a very competitive industry, and if we fail to compete successfully against our existing or potential competitors, some of whom may have greater resources than us, our business, financial condition, results of operations, and prospects could be materially and adversely affected. Q1, 2026
Omada Health, Inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $5.78B | -11.35 | 30.25% | ― | 49.78% | -477.12% | |
68 Neutral | $1.18B | -172.97 | 1.84% | ― | 49.36% | 83.76% | |
66 Neutral | $1.04B | 52.39 | 4.84% | ― | -1.19% | -21.87% | |
56 Neutral | $2.98B | 133.80 | 3.02% | ― | 24.72% | 35.79% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | $179.62M | -1.98 | -33.27% | ― | -9.29% | 46.89% | |
52 Neutral | $1.22B | -6.78 | -13.08% | ― | -2.08% | 16.88% |
* General Sector Average
OMDA
Omada Health, Inc.
23.67
4.65
24.45%
TDOC
Teladoc
7.13
0.17
2.44%
AMWL
American Well
13.52
6.24
85.71%
GDRX
GoodRx Holdings
3.68
0.21
6.05%
PRVA
Privia Health Group
22.45
1.87
9.09%
HNGE
Hinge Health, Inc. Class A
89.33
32.65
57.60%
Omada Health, Inc. Corporate Events
Business Operations and StrategyExecutive/Board Changes
Omada Health Announces CEO Transition and Governance Changes
Neutral
Aug 6, 2026
On August 6, 2026, Omada Health announced a leadership transition in which current Chief Executive Officer Sean Duffy will become Executive Chairman of the Board, while President Wei-Li Shao will assume the role of Chief Executive Officer effectiv...
Executive/Board ChangesShareholder Meetings
Omada Health Shareholders Back Board and Auditor at Meeting
Positive
Jun 16, 2026
On June 16, 2026, Omada Health, Inc. held its 2026 Annual Meeting of Stockholders, where shareholders voted on the election of Class I directors and the ratification of the company’s independent auditor for the 2026 fiscal year. Stockholders...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.