Omada Health Revenue Rises 34% to $91 Million

The digital health company reported third-quarter 2026 results and raised its full-year revenue and adjusted EBITDA outlook.

Updated on Nov. 6, 2026 in Healthcare

Omada Health Revenue Rises 34% to $91 Million

Omada Health reported $91 million in third-quarter 2026 revenue, up 34% year-over-year, and turned a net loss in the prior-year quarter into $7 million of net income. The company also raised its full-year 2026 revenue and adjusted EBITDA outlook, though its stock fell 19% after the earnings call.

Why it matters

The results show continued growth in digital chronic-care programs for diabetes and hypertension, which are increasingly sold through insurers and employers. The sharp stock decline reflects investor concern that new enrollments may slow in the fourth quarter.

Omada Health's gross margin was 76% on a GAAP basis and 78% non-GAAP in the third quarter, while trailing 12-month revenue per member reached $294. The company expects full-year 2026 revenue of $344 million to $346 million, and it has not yet disclosed how much of the projected Q4 member decline will affect that range.

The players

Omada Health

A digital health company that delivers chronic-care programs for diabetes, hypertension and related conditions, and sells them through insurers and employers.

Health Care Services Corporation

A large health insurer that expanded its partnership with Omada Health into three additional states.

The details

Omada Health's membership growth was driven by its diabetes and hypertension programs, and the company expanded its partnership with Health Care Services Corporation into three additional states. The partnership is expected to reach an estimated 1.5 million additional covered lives at launch in 2027.

Q3 2025: Omada Health reported a net loss and $2 million in adjusted EBITDA.
June 2025: Omada Health went public.
November 2025: Omada Health launched its GLP-1 care companion solution.
Q3 2026: Omada Health reported its strongest quarter ever.
Jan. 1, 2027: Wei-Li Shao takes over as CEO.

Market Landscape

Omada Health's 34% revenue growth comes as insurers and employers increasingly contract digital programs for chronic disease management, a segment that has drawn investor attention since the company's June 2025 public listing. The company's growth now depends on converting insurer partnerships like its expansion with Health Care Services Corporation into sustained enrollment.

Members of Omada Health programs may see enrollment openings shift as the company expects fourth-quarter new enrollments to moderate. Employers and insurers considering digital diabetes and hypertension programs now have a larger partner network following the expanded Health Care Services Corporation agreement.

The takeaway

Digital chronic-care companies are moving from early growth to scaled insurer contracts, but investors are closely watching whether enrollment momentum holds through slower seasonal periods.