8-K: Omada Health Reports Strong Preliminary 2025 Revenue & Member Growth

Omada Health announced preliminary, unaudited revenue for Q4 and full year 2025, showing significant growth and increased member count, ahead of its J.P. Morgan Healthcare Conference presentation.

Summary

• Preliminary unaudited revenue for the fourth quarter of 2025 is expected to be between $72 million and $74 million, representing an increase of 50% to 54% over the fourth quarter of 2024.
• For the full year 2025, preliminary revenue is expected to be between $256 million and $258 million, representing growth of 51% to 52% compared to 2024.
• Total members reached approximately 886,000 as of December 31, 2025, an increase of 55% year-over-year.
• These unaudited results are preliminary and subject to the completion of final closing procedures and annual independent audit, and are subject to adjustment.
• The company enhanced its GLP-1 care offerings and advanced the use of AI across its platform during the year.

Sentiment

Score: 8

Explanation: The filing reports strong preliminary revenue and member growth, indicating positive operational performance and market traction for Omada Health's virtual care model. The enhancement of GLP-1 offerings and AI integration are also positive strategic moves.

Positives

• Strong preliminary Q4 2025 revenue growth of 50% to 54% year-over-year, reaching $72 million to $74 million.
• Robust preliminary full year 2025 revenue growth of 51% to 52% year-over-year, totaling $256 million to $258 million.
• Significant increase in total members to approximately 886,000 as of December 31, 2025, representing a 55% year-over-year growth.
• Enhanced GLP-1 care offerings and advanced AI use across the platform to drive sustainable member outcomes and support customers.
• Growing relevance of the virtual 'between-visit care model' as both buyers and members seek new solutions.

Risks

• Limited operating history and ability to manage growth effectively.
• History of net losses and ability to achieve or maintain profitability.
• Ability of programs to achieve and maintain market acceptance.
• Changes in the healthcare industry and competition.
• Growth and success of customers and channel partners.
• Number of individuals covered by programs and the number of programs covered by customers.
• Level of member engagement in programs.
• Ability to maintain and grow customer and channel partner relationships.
• Concentration of a substantial portion of sales among a limited number of customers and channel partners.
• Ability to attract new customers and channel partners and increase member enrollment from existing and new customers and channel partners.
• Ability to increase the size of the organization.
• Dependence on a limited number of third-party suppliers.
• Impact of seasonality on financial results.
• Ability to achieve widespread brand awareness and the impact of any negative media coverage.
• Ability to develop and release new programs and services.
• Cybersecurity threats.
• Dependence on the interoperability of programs and connected devices with third-party devices, operating systems and applications.
• Changes in laws or regulations or the implementation of existing laws and regulations.
• Compliance with privacy and security laws and regulations.
• Compliance with healthcare regulatory laws by Omada and its affiliated professional entities.
• Any modification in U.S. Food and Drug Administration enforcement policies.
• Dependence on relationships with affiliated professional entities.
• Other risk factors identified in SEC filings, including the Quarterly Report on Form 10-Q for the quarter ended September 30, 2025.

Future Outlook

Omada Health expects to report its audited fourth quarter and fiscal year 2025 results on March 5, 2026, after the close of market. The company also highlighted its ongoing efforts to enhance GLP-1 care offerings and advance AI across its platform to drive sustainable member outcomes and support customers.

Management Comments

• "Our preliminary 2025 results underscore the growing relevance of our between-visit care model as both buyers and members seek new solutions."
• "During the year, we enhanced our GLP-1 care offerings and advanced the use of AI across our platform with an aim to drive sustainable member outcomes and support customers navigating evolving cost and care dynamics."

Industry Context

Omada Health operates in the rapidly evolving virtual healthcare sector, specifically targeting chronic conditions like obesity, diabetes, hypertension, and musculoskeletal disorders. The company's 'between-visit care model' leverages human-led care teams, connected devices, and AI-enabled technology, aligning with broader industry trends towards digital health solutions, personalized care at scale, and the integration of AI for improved patient outcomes and cost management, particularly in the context of GLP-1 therapy support.

Comparison to Industry Standards

• The filing does not provide specific comparable companies, projects, or results to assess Omada Health's performance against global benchmarks.
• However, the reported growth rates of over 50% in both revenue and member count suggest strong performance within the virtual chronic care market, which is experiencing significant expansion and investment.

Stakeholder Impact

• Shareholders: Positive impact due to strong revenue and member growth, potentially leading to increased share value.
• Customers (employers, health plans, health systems): Continued value proposition through enhanced GLP-1 offerings and AI, supporting their cost and care dynamics.
• Members: Benefit from personalized, virtual-first care for chronic conditions and support for GLP-1 therapy.
• Employees: Potential for growth and stability within the company due to strong performance.

Next Steps

• Present at the 44th Annual J.P. Morgan Healthcare Conference on January 14, 2026.
• Report audited Q4 and fiscal year 2025 results on March 5, 2026, after the close of market.
• Announce details for the conference call and webcast for audited results at a later date.

Key Dates

Recommendation

The preliminary results indicate robust growth in both revenue and member base, significantly exceeding 50% year-over-year. This strong performance, coupled with strategic advancements in GLP-1 care and AI integration, suggests Omada Health is effectively addressing market demand for virtual chronic care solutions. While these results are unaudited, the magnitude of growth points to strong underlying business momentum, making it an attractive investment opportunity for long-term growth.

Keywords

Omada Health, OMDA, virtual healthcare, chronic care, diabetes, obesity, hypertension, musculoskeletal disorders, GLP-1 therapy, AI in healthcare, preliminary revenue, member growth, Q4 2025 results, fiscal year 2025, J.P. Morgan Healthcare Conference