Omada Health Reports Fourth Quarter and Full-Year 2025 Results

Revenue up 58% in Fourth Quarter, 53% for Year; Member Growth of 55% for Year

Achieves Positive Net Income in Fourth Quarter; Significantly Narrows Net Loss for Full Year

Delivers Positive Adjusted EBITDA for Full Year

SAN FRANCISCO - March 5, 2026 - Omada Health, Inc. (Nasdaq: OMDA), the virtual between-visit healthcare provider, today reported financial results for the fourth quarter and full year ended December 31, 2025.

2025 Fourth Quarter and Full-Year Highlights

Highlights are for the fourth quarter and full year 2025, except where otherwise noted.

Total members

•886,000 at year end, up 55% year over year

Revenue

•$76 million in the fourth quarter, up 58% year over year

•$260 million for the full year, up 53% compared with 2024

GLP-1 Leadership

•Omada has now supported more than 150,000 members on GLP-1s, compared with more than 50,000 at the end of 2024

•Published research demonstrating the effectiveness of Omada's programs, including data showing members in our GLP-1 Care Track, compared with published real-world evidence, achieved greater average weight loss and largely maintained weight, on average, one year after discontinuing GLP-1 therapy

•Announced plans in November to launch a new prescribing offering that will combine Omada's evidence-based behavior change program with medication management for anti-obesity medications, including GLP-1s

•Today, announced GLP-1 Flex Care, a new option that gives employers a structured way to connect eligible employees with clinical evaluation, prescribing, and ongoing medical oversight for GLP-1s-alongside Omada's lifestyle and behavioral support-without taking on employer financial coverage for GLP-1s, providing another flexible pathway to balance access, affordability, and durable outcomes across diverse GLP-1 coverage strategies

Program Innovation

•During 2025, launched OmadaSpark and Meal Map, AI-powered tools that support members with wellness education alongside our human coaches

•In February of 2026, announced Omada for Cholesterol to address a highly prevalent, often under-treated condition that frequently co-exists with diabetes, hypertension, and

obesity, further strengthening its multi-condition platform capabilities and expanding the scope of Omada's cardiometabolic care

"Our 2025 performance reflects a pivotal year for Omada, marked by strong growth, important profitability milestones, and continued momentum across our business," said Sean Duffy, co-founder and CEO of Omada Health. "We demonstrated GLP-1 companion support innovation, advanced our member-facing AI capabilities, and introduced meaningful program expansions-all designed to support our members in achieving durable health improvements and serving as a foundation for progress toward our long-term mission to bend the curve of chronic disease."

Other Fourth Quarter and Full Year 2025 Financial Highlights

•Gross margin of 71% in the fourth quarter, up from 67% in Q4 2024, and gross margin of 66% for the year compared with 61% in 2024

•Non-GAAP gross margin of 73% in the fourth quarter, up from 69% in Q4 2024, and non-GAAP gross margin of 68% for the year compared with 63% in 2024

•Net income of $5 million in the fourth quarter, compared with a net loss of $8 million in Q4 2024, and a net loss of $13 million for the year compared with a net loss of $47 million in 2024

•Adjusted EBITDA of $8 million in the fourth quarter, compared with an adjusted EBITDA loss of $4 million in Q4 2024, and adjusted EBITDA of $6 million for the year compared with an adjusted EBITDA loss of $29 million in 2024

•Cash and cash equivalents of $222 million

Please see the Non-GAAP Financial Measures section below and reconciliations of GAAP to non-GAAP measures at the end of this press release.

Financial 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 in the range of $7 million to $15 million

We have not provided an outlook for net loss (GAAP) or a reconciliation of expected adjusted EBITDA to net loss (GAAP) because net loss (GAAP) on a forward-looking basis is not available without unreasonable effort due to the potential variability and complexity of the items that are excluded from adjusted EBITDA, such as loss on debt extinguishment; provision for income taxes; depreciation and amortization; share-based compensation; change in fair value of warrant liabilities; amortization of intangible assets; and loss on disposal of property and equipment.

Conference Call

Omada Health will host a conference call at 1:30 p.m. PT/4:30 p.m. ET today, March 5, 2026, during which management will discuss fourth quarter and full-year 2025 results.

A live audio webcast of the call will be available online at https://investors.omadahealth.com. A replay will be available shortly after the conclusion of the call at the same link and will remain accessible for approximately 12 months.

Those participating via conference call can pre-register using the following link:

https://register-conf.media-server.com/register/BI58c6d7a71730445093f7ea7c02d33e97

About Omada Health

Omada Health (Nasdaq: OMDA) is reverse engineering the way healthcare is delivered in America, putting the space between doctor visits-where health is won or lost-at the center of care. Today's healthcare system poorly serves chronic conditions that require ongoing support outside of the exam room, like obesity, diabetes, hypertension, cholesterol, and musculoskeletal conditions. Omada's virtual-first model combines human-led care teams, connected devices, and AI-enabled technology to deliver personalized care at scale, including support for GLP-1 therapy. Omada has served more than two million members since launch across 2,000+ employers, health plans, pharmacy benefit managers, and health systems. Learn more at omadahealth.com.