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Omada Health, Inc.
(NASDAQ:OMDA)
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Rating:68Neutral
Price Target:
$22.50
▼(-3.47% Downside)
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
Revenue and margin expansion
Revenue acceleration, higher gross margins and raised EBITDA guidance indicate operating leverage is emerging alongside demand growth. If maintained, this combination can improve cash generation and fund product and channel expansion, making the business model more durable over the next several quarters.
Negative Factors
Profitability is not yet proven
Omada has made meaningful progress toward breakeven, but annual earnings remain negative and the improvement has not yet demonstrated multi-year consistency. Continued losses could consume equity or constrain reinvestment if revenue growth and operating leverage weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and margin expansion
Revenue acceleration, higher gross margins and raised EBITDA guidance indicate operating leverage is emerging alongside demand growth. If maintained, this combination can improve cash generation and fund product and channel expansion, making the business model more durable over the next several quarters.
Read all positive factors
Omada Health, Inc. (OMDA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.31B
Dividend YieldN/A
Average Volume (3M)1.24M
Price to Earnings (P/E)304.7
Beta (1Y)2.10
Revenue Growth47.63%
EPS GrowthN/A
CountryUS
Employees946
SectorGeneral
Sector StrengthN/A
IndustryMedical - Healthcare Information Services
Share Statistics
EPS (TTM)0.07
Shares Outstanding61,216,700
10 Day Avg. Volume1,750,101
30 Day Avg. Volume1,242,165
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
$28.27Price Target Upside21.29% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)0.36
Revenue Forecast (FY)$338.67M
Omada Health, Inc. Business Overview & Revenue Model
Company Description
Omada Health, Inc., together with its subsidiary, Physera, Inc., provides a range of virtual care programs in the United States. The company offers cardiometabolic programs for prediabetes, diabetes, and hypertension; a physical therapy program to...
How the Company Makes Money
Omada Health primarily makes money by selling access to its virtual chronic care programs to healthcare payers and purchasers, most commonly health plans and self-insured employers (often accessed via benefits consultants and similar intermediarie...
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 | 22.75M | 16.93M | -38.04M | -52.66M | -71.70M |
| Operating Cash Flow | 23.68M | 18.25M | -34.18M | -49.74M | -68.98M |
| Investing Cash Flow | -6.55M | -5.83M | -3.86M | -2.92M | -2.72M |
| Financing Cash Flow | -18.57M | 133.22M | -1.21M | 179.00K | 16.32M |
Omada Health, Inc. Technical Analysis
Neutral
23.31
Price Trends
22.18
Negative
20.25
Positive
17.13
Positive
Market Momentum
-0.62
Positive
44.16
Neutral
51.19
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OMDA, the sentiment is Neutral. The current price of 23.31 is above the 20-day moving average (MA) of 21.77, above the 50-day MA of 22.18, and above the 200-day MA of 17.13, indicating a neutral trend. The MACD of -0.62 indicates Positive momentum. The RSI at 44.16 is Neutral, neither overbought nor oversold. The STOCH value of 51.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 0 New Risks
Omada Health, Inc. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $7.60B | 68.53 | 30.25% | ― | 49.76% | ― | |
68 Neutral | $1.31B | 304.71 | 1.84% | ― | 47.63% | ― | |
66 Neutral | $1.17B | 63.12 | 2.61% | ― | -1.83% | -48.77% | |
56 Neutral | $2.49B | 84.93 | 0.01% | ― | 24.10% | 84.08% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | $224.69M | -2.77 | -33.27% | ― | -19.00% | 40.98% | |
52 Neutral | $1.15B | -6.19 | -13.08% | ― | -2.08% | 16.88% |
* General Sector Average
OMDA
Omada Health, Inc.
19.72
-3.36
-14.56%
TDOC
Teladoc
6.14
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-22.77%
AMWL
American Well
13.47
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120.10%
GDRX
GoodRx Holdings
3.36
-0.57
-14.50%
PRVA
Privia Health Group
19.39
-3.97
-16.99%
HNGE
Hinge Health, Inc. Class A
91.98
40.73
79.47%
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...
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.