8-K: Omada Health Reports Strong Q4, Full-Year 2025 Growth & Profitability

Omada Health announced robust fourth-quarter and full-year 2025 results, featuring significant revenue and member growth, alongside achieving positive net income in Q4 and positive Adjusted EBITDA for the full year.

Summary

• Total members reached 886,000 at year-end 2025, representing a 55% increase year-over-year.
• Fourth-quarter 2025 revenue was $76 million, up 58% year-over-year.
• Full-year 2025 revenue totaled $260 million, a 53% increase compared with 2024.
• Omada has supported over 150,000 members on GLP-1s, a significant increase from over 50,000 at the end of 2024.
• Published research demonstrated the effectiveness of Omada's GLP-1 Care Track, showing greater average weight loss and maintenance one year post-discontinuation compared to published real-world evidence.
• Plans were announced in November 2025 to launch a new prescribing offering combining behavior change with medication management for anti-obesity medications, including GLP-1s.
• GLP-1 Flex Care was announced, providing employers a structured way to connect eligible employees with clinical evaluation, prescribing, and ongoing medical oversight for GLP-1s alongside Omada's lifestyle support, without employer financial coverage for the medications.
• During 2025, OmadaSpark and Meal Map, AI-powered tools, were launched to support members with wellness education.
• In February 2026, Omada for Cholesterol was announced, expanding the company's cardiometabolic care platform.
• Achieved positive net income of $5 million in the fourth quarter of 2025, compared to a net loss of $8 million in Q4 2024.
• Significantly narrowed full-year net loss to $13 million in 2025, down from $47 million in 2024.
• Delivered positive Adjusted EBITDA of $8 million in Q4 2025, compared to a loss of $4 million in Q4 2024, and positive Adjusted EBITDA of $6 million for the full year 2025, compared to a loss of $29 million in 2024.
• Cash and cash equivalents stood at $222 million at year-end 2025.

Sentiment

Score: 8

Explanation: StockSavvy.ai views this as a very positive report, demonstrating strong growth, significant progress towards profitability, and strategic innovation in key market segments like GLP-1 support and AI.

Positives

• Strong revenue growth: 58% in Q4 2025 ($76 million) and 53% for full-year 2025 ($260 million).
• Significant member growth: 55% year-over-year, reaching 886,000 total members.
• Achieved positive GAAP net income of $5 million in Q4 2025, a substantial improvement from a net loss of $8 million in Q4 2024.
• Full-year GAAP net loss significantly narrowed from $47 million in 2024 to $13 million in 2025.
• Delivered positive Adjusted EBITDA of $8 million in Q4 2025 and $6 million for the full year 2025, marking a significant turnaround from losses in 2024.
• Improved gross margin: 71% in Q4 2025 (up from 67% in Q4 2024) and 66% for full-year 2025 (up from 61% in 2024). Non-GAAP gross margin also saw similar improvements.
• Robust cash position with $222 million in cash and cash equivalents at year-end 2025.
• Demonstrated leadership in GLP-1 support, tripling members on GLP-1s to over 150,000 and introducing new prescribing and flexible care offerings.
• Continued program innovation with the launch of AI-powered tools (OmadaSpark, Meal Map) and expansion into new cardiometabolic conditions (Omada for Cholesterol).

Negatives

• Despite significant improvement, the company still reported a full-year GAAP net loss of $13 million.
• The projected revenue growth outlook for 2026 (22% at midpoint) is lower than the 53% growth achieved in 2025.

Risks

• Limited operating history and ability to manage growth effectively.
• History of net losses and ability to 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.
• The number of individuals covered by programs and the number of programs covered by customers.
• The 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.
• The 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 the company 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 filings with the Securities and Exchange Commission (SEC), including the Annual Report on Form 10-K for the year ended December 31, 2025.

Future Outlook

For the year ending December 31, 2026, Omada expects revenue in the range of $312 million to $322 million, with the midpoint representing 22% growth compared with 2025. Adjusted EBITDA is projected to be in the range of $7 million to $15 million.

Management Comments

• "Our 2025 performance reflects a pivotal year for Omada, marked by strong growth, important profitability milestones, and continued momentum across our business."
• "We demonstrated GLP1 companion support innovation, advanced our memberfacing AI capabilities, and introduced meaningful program expansionsall designed to support our members in achieving durable health improvements and serving as a foundation for progress toward our longterm mission to bend the curve of chronic disease."

Industry Context

StockSavvy.ai notes that Omada Health's strong growth in virtual care and GLP-1 support aligns with broader industry trends towards digital health solutions for chronic disease management and the increasing adoption of GLP-1 medications. The expansion into AI-powered tools and new conditions like cholesterol positions Omada to capitalize on the growing demand for integrated, multi-condition virtual care platforms, differentiating itself in a competitive market.

Comparison to Industry Standards

• Omada's 55% member growth and 53% revenue growth in 2025 significantly outpace many established digital health companies, such as Teladoc Health (TDOC), which have experienced slower growth or declines post-pandemic.
• The rapid expansion of GLP-1 member support from 50,000 to 150,000 members in one year demonstrates strong market penetration and responsiveness to a key trend, potentially positioning Omada as a leader in GLP-1 companion programs compared to general wellness platforms.
• Achieving positive Adjusted EBITDA for the full year and positive GAAP net income in Q4 2025 is a notable milestone in the digital health sector, where many companies prioritize growth over immediate profitability. This contrasts with some peers who continue to report substantial losses.

Related Party Transactions

• Accounts receivable includes $22.8 million (2025) and $13.2 million (2024) from a related party.
• Prepaid expenses and other current assets include $0.3 million (2025) and $0.1 million (2024) from a related party.
• Accounts payable includes $1.0 million (2025) from a related party.
• Accrued expenses and other current liabilities include $4.9 million (2025) and $2.2 million (2024) from a related party.
• Deferred revenue includes $18.8 million (2025) and $13.2 million (2024) from a related party.
• Services revenue includes $49.5 million (Q4 2025) and $157.7 million (FY 2025) from a related party.
• Hardware revenue includes $3.1 million (Q4 2025) and $12.1 million (FY 2025) from a related party.
• Cost of services revenue includes $1.2 million (Q4 2025) and $5.0 million (FY 2025) from a related party.
• Research and development expense includes $0.6 million (Q4 2025) and $2.2 million (FY 2025) from a related party.
• Sales and marketing expense includes $6.8 million (Q4 2025) and $26.1 million (FY 2025) from a related party.
• General and administrative expense includes $0.4 million (Q4 2025) and $1.5 million (FY 2025) from a related party.

Stakeholder Impact

• Shareholders: Positive financial results, strong growth, and a clear path to profitability could increase shareholder value. The IPO in 2025 provided significant capital.
• Employees: Continued growth and innovation suggest a stable and expanding work environment.
• Customers (Employers, Health Plans): New offerings like GLP-1 Flex Care and Omada for Cholesterol enhance the value proposition, providing more flexible and comprehensive solutions.
• Members: Expanded programs, AI-powered tools, and GLP-1 support offer more effective and personalized care for chronic conditions.

Next Steps

• Host a conference call at 1:30 p.m. PT/4:30 p.m. ET on March 5, 2026, to discuss results.
• Continue to support members in achieving durable health improvements.
• Progress toward the long-term mission to bend the curve of chronic disease.
• Launch a new prescribing offering combining behavior change with medication management for anti-obesity medications.
• Continue to expand multicondition platform capabilities, as evidenced by the recent announcement of Omada for Cholesterol.

Key Dates

Recommendation

Omada Health's Q4 and full-year 2025 results demonstrate exceptional growth in revenue and members, coupled with a significant shift towards profitability, achieving positive GAAP net income in Q4 and positive Adjusted EBITDA for the full year. The company's strategic focus on GLP-1 companion support, evidenced by a tripling of members on GLP-1s and the introduction of new prescribing and flexible care options, positions it strongly in a high-growth market segment. Innovation with AI-powered tools and expansion into new cardiometabolic conditions further strengthens its competitive advantage. While the projected 2026 revenue growth rate is lower than 2025, it still represents solid expansion for a company transitioning to profitability. The strong cash position provides financial flexibility. These factors indicate robust operational execution and significant future potential, making it a compelling investment.

Keywords

Digital Health, Virtual Care, Chronic Disease Management, GLP-1, Obesity, Diabetes, Hypertension, Cholesterol, Telehealth, Health Technology, AI in Healthcare, SEC Filing, OMDA, Financial Results