SAN FRANCISCO - August 6, 2026 - Omada Health, Inc. (Nasdaq: OMDA), the virtual between-visit healthcare provider, today reported financial results for the second quarter ended June 30, 2026. Omada Health also announced co-founder and CEO Sean Duffy will transition to Founder and Executive Chair effective January 1, 2027, with President Wei-Li Shao assuming the role of CEO.
Financial Highlights
Please see the non-GAAP Financial Measures section below and reconciliations of GAAP to non-GAAP measures at the end of this press release.
Operational Highlights
"Our outstanding second quarter reflects the strength of our strategy, the momentum we've built across the business, and the exceptional team driving Omada forward," said Sean Duffy, co-founder and CEO of Omada Health. "Reflecting continued demand for our integrated between-visit care platform, total members increased 45% year over year as we expanded our commercial channels, deepened relationships with our leading PBM channels, and introduced our cholesterol management program with one of the nation’s largest retailers. The opportunity ahead is significant, and we'll remain focused on disciplined execution as we look to broaden our capabilities, deepen customer relationships and improve the health of even more members."
Wei-Li Shao to become CEO of Omada Health
Effective January 1, 2027, Wei-Li Shao will become CEO of Omada Health, with responsibility for the company's strategy, operations, and results, reporting to the Board of Directors. Sean Duffy, Founder and CEO, will transition to Founder and Executive Chair, supporting Wei-Li and the Board on Omada Health's long-term mission, key partnerships, and strategic initiatives. In connection with Sean’s transition, Jeryl "Jeri" Hilleman, who has served as Chairperson of the Board since July 2020, will become Lead Independent Director and continue as Chairperson of the Audit Committee, also effective January 1, 2027.
“Over the past seven years, Wei-Li and I have worked together to build a strong company as Wei-Li has steadily increased his scope of responsibility. His track record of delivering innovation, commercial wins, and strong financial growth has shaped Omada and demonstrates that Wei-Li is the right leader to take Omada to the next level of impact and scale,” said Sean Duffy.
Wei-Li joined Omada Health in 2019 as Chief Commercial Officer and was appointed President in 2021. Since then, he has held direct accountability for Omada Health's P&L and full operating agenda, leading the product, commercial, and operational strategy that scaled the company from a single-condition program into a multi-condition care platform. He built the long-range plan that guides how Omada Health runs today and has been a close strategic partner to Sean throughout the company's growth. Wei-Li brings to the role 18 years at Eli Lilly and Company, where he held senior leadership roles across its global healthcare and biopharmaceutical businesses, including deep experience in the cardiometabolic and diabetes markets at the center of Omada Health's mission.
"I'm honored to lead Omada and continue building on the strong foundation this incredible team has created," said Wei-Li Shao, President of Omada Health. "Fifteen years ago, Sean designed an innovative solution to help Americans bridge the healthcare gap. Together, we've shown the model works, yet I believe our biggest impact is still ahead. Our results serve as a foundation to raise our ambitions. Now is the time to scale, push harder on our mission, and bend the curve of chronic disease."
Financial Outlook
“We delivered another strong quarter, setting quarterly records for revenue of $88 million, GAAP gross margin of 73%, non-GAAP gross margin of 74%, net income of $5 million, and adjusted EBITDA of $11 million. Revenue grew 43% year over year. This marks Omada Health’s most profitable quarter to date, both in absolute terms and on a margin basis, demonstrating continued operating leverage,” said Steve Cook, Chief Financial Officer of Omada Health. “At the midpoint, our raised full‑year outlook represents approximately 30% year‑over‑year revenue growth and a fourfold increase in adjusted EBITDA, reflecting our extraordinary second‑quarter performance and our path of sustainable profitability.”
For the year ending December 31, 2026, Omada Health expects:
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.
Investor Day
Omada Health will host an Investor Day on September 10, 2026 in New York City, where management will present Omada Health’s vision, strategy, and long-term growth plans.
Please reach out to investor relations at ir@omadahealth.com for more information.
Conference Call
Omada Health will host a conference call at 1:30 p.m. PT/4:30 p.m. ET today, August 6, 2026, during which management will discuss second quarter 2026 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/BI1da25a61227f4480b4afdedba6928bce
Download the Second Quarter 2026 Results