OMDA on Nasdaq
Omada Health, Inc.
American health services company based in Wilmington, incorporated in Delaware. Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
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- TickerOMDA on Nasdaq2
- IndustryServices-Health Services2
- HeadquartersWilmington, United States2
- Incorporated inDE3
- Business address611 Gateway Blvd., Suite 120, South San Francisco, Ca 940803
- Filer categoryNon-accelerated filer, Emerging growth company3
- Legal formCorporation2
- LEI5299008WYNYU33NFKF882
- StatusActive2
- LEI statusIssued and current2
- Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States2
- Registered withDivision of Corporations, Department of State, 49725952
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Our mission is to bend the curve. Our hope is that, one day, tomorrow’s epidemiologists will notice a bend in disease curves, wonder what might be happening, and conclude that part of that impact has been Omada. As part of that mission, we strive to inspire and enable people to make lasting health changes on their own terms. We deliver virtual care between doctor’s visits, providing an engaging, personalized, and integrated experience for the individuals in our programs, which we call our “members.” Our care is designed to improve their health while delivering value for the employers, health insurance companies (“health plans”), health systems, pharmacy benefit managers (“PBMs”), and other entities that cover the cost of our programs. Our platform is grounded in evidence and supported by peer-reviewed clinical research and third-party accreditations, which we believe enhances credibility…4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
65.7%Gross margin5
-4.6%Operating margin5
-4.9%Net margin5
53.2%Revenue growth, 20255
-5.6%Return on equity5
0.00×Debt to equity5
$16.9MFree cash flow5
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Service brought in 93% of the revenue Omada Health, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Service | $114.5M | $157.8M | $241.0M |
| Hardware | $8.3M | $12.0M | $19.2M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue34¢$89.3M
- Research and development16¢$40.7M
- Other costs50¢$130.3M
Out of $260.2M in revenue.5 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending7¢$1.3M
- Kept or used elsewhere93¢$16.9M
Out of $18.3M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total cost of revenue | $89.3M | $66.9M | $52.8M |
| Gross profit | $170.9M | $102.9M | $70.0M |
| Research and development | $40.7M | $35.9M | $33.7M |
| Sales and marketing | $90.0M | $68.1M | $66.2M |
| Total operating expenses | $182.9M | $146.5M | $136.0M |
| Operating loss | -$12.0M | -$43.7M | -$66.0M |
| Interest expense | -$2.5M | -$4.5M | -$4.7M |
| Interest income | $5.3M | $805.0K | $5.8M |
| Loss on debt extinguishment | -$2.1M | $0 | -$1.5M |
| Change in fair value of warrants | -$1.5M | $218.0K | -$1.0M |
| Total other expense, net | -$806.0K | -$3.5M | -$1.5M |
| Loss before provision for income taxes | -$12.8M | -$47.1M | -$67.5M |
| Provision for income taxes | $0 | $0 | $0 |
| Net loss and comprehensive loss | -$12.8M | -$47.1M | -$67.5M |
| Net loss and comprehensive loss | -$12.8M | -$47.1M | -$67.5M |
| Basic (in dollars per share) | -$0.35 | -$6.11 | -$9.52 |
| Diluted (in dollars per share) | -$0.35 | -$6.11 | -$9.52 |
| Basic (in shares) | 36.6M shares | 7.7M shares | 7.1M shares |
| Diluted (in shares) | 36.6M shares | 7.7M shares | 7.1M shares |
| Revenue | $260.2M | $169.8M | $122.8M |
| General and administrative | $52.2M | $42.6M | $36.0M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2025-05-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $222.0M | $76.4M | |||
| Inventory | $4.5M | $3.3M | |||
| Deferred commissions, current | $3.5M | $3.0M | |||
| Contract assets | $638.0K | $502.0K | |||
| Prepaid expenses and other current assets | $8.3M | $6.9M | |||
| Total current assets | $272.9M | $113.1M | |||
| Property and equipment, net | $7.9M | $5.6M | |||
| Operating lease right-of-use asset | $0 | $447.0K | |||
| Deferred commissions, non-current | $8.7M | $9.2M | |||
| Intangible assets, net | $2.4M | $4.3M | |||
| Goodwill | $13.2M | $13.2M | |||
| Other assets | $165.0K | $5.0M | |||
| Total assets | $305.4M | $150.9M | |||
| Accrued expenses and other current liabilities | $40.4M | $29.8M | |||
| Operating lease liability, current | $0 | $415.0K | |||
| Deferred revenue | $25.1M | $19.5M | |||
| Total current liabilities | $75.7M | $54.0M | |||
| Long term debt | $0 | $29.8M | |||
| Warrant liabilities, non-current | $0 | $2.3M | |||
| Other liabilities, non-current | $0 | $285.0K | |||
| Total liabilities | $75.7M | $86.3M | |||
| Redeemable convertible preferred stock, $0.001 par value per share; no shares and 120,689 shares authorized as of December 31, 2025 and December 31, 2024, respectively; no shares and 118,219 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively; aggregate liquidation preference of $0 and $455,588 as of December 31, 2025 and December 31, 2024, net of issuance costs | $0 | $449.0M | $449.0M | $448.8M | |
| Common stock, $0.001 par value per share; 750,000 and 181,500 shares authorized as of December 31, 2025 and December 31, 2024, respectively; 58,429 and 8,157 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $58.0K | $8.0K | |||
| Additional paid-in capital | $686.4M | $59.6M | |||
| Accumulated deficit | -$456.7M | -$444.0M | |||
| Total stockholders equity (deficit) | $229.7M | -$384.4M | -$350.1M | -$293.2M | |
| Total liabilities, redeemable convertible preferred stock and stockholders equity (deficit) | $305.4M | $150.9M | |||
| Redeemable convertible preferred stock, par value (in dollars per share) | $0 | $0 | |||
| Redeemable convertible preferred stock, shares authorized (in shares) | 0 shares | 120.7M shares | |||
| Redeemable convertible preferred stock, shares issued (in shares) | 0 shares | 118.2M shares | |||
| Redeemable convertible preferred stock, shares outstanding (in shares) | 0 shares | 118.2M shares | 118.2M shares | 118.2M shares | 118.1M shares |
| Redeemable convertible preferred stock, liquidation preference (in shares) | $0 | $455.6M | |||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 750.0M shares | 750.0M shares | 181.5M shares | ||
| Common stock, shares issued (in shares) | 58.4M shares | 8.2M shares | |||
| Common stock, shares outstanding (in shares) | 58.4M shares | 8.2M shares | |||
| Accounts receivable, net | $34.6M | $23.4M | |||
| Accounts payable | $10.3M | $4.2M |
| Period ending | 2025-12-31 | 2025-05-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $222.0M | $76.4M | |||
| Inventory | $4.5M | $3.3M | |||
| Deferred commissions, current | $3.5M | $3.0M | |||
| Contract assets | $638.0K | $502.0K | |||
| Prepaid expenses and other current assets | $8.3M | $6.9M | |||
| Total current assets | $272.9M | $113.1M | |||
| Property and equipment, net | $7.9M | $5.6M | |||
| Operating lease right-of-use asset | $0 | $447.0K | |||
| Deferred commissions, non-current | $8.7M | $9.2M | |||
| Intangible assets, net | $2.4M | $4.3M | |||
| Goodwill | $13.2M | $13.2M | |||
| Other assets | $165.0K | $5.0M | |||
| Total assets | $305.4M | $150.9M | |||
| Accrued expenses and other current liabilities | $40.4M | $29.8M | |||
| Operating lease liability, current | $0 | $415.0K | |||
| Deferred revenue | $25.1M | $19.5M | |||
| Total current liabilities | $75.7M | $54.0M | |||
| Long term debt | $0 | $29.8M | |||
| Warrant liabilities, non-current | $0 | $2.3M | |||
| Other liabilities, non-current | $0 | $285.0K | |||
| Total liabilities | $75.7M | $86.3M | |||
| Redeemable convertible preferred stock, $0.001 par value per share; no shares and 120,689 shares authorized as of December 31, 2025 and December 31, 2024, respectively; no shares and 118,219 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively; aggregate liquidation preference of $0 and $455,588 as of December 31, 2025 and December 31, 2024, net of issuance costs | $0 | $449.0M | $449.0M | $448.8M | |
| Common stock, $0.001 par value per share; 750,000 and 181,500 shares authorized as of December 31, 2025 and December 31, 2024, respectively; 58,429 and 8,157 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $58.0K | $8.0K | |||
| Additional paid-in capital | $686.4M | $59.6M | |||
| Accumulated deficit | -$456.7M | -$444.0M | |||
| Total stockholders equity (deficit) | $229.7M | -$384.4M | -$350.1M | -$293.2M | |
| Total liabilities, redeemable convertible preferred stock and stockholders equity (deficit) | $305.4M | $150.9M | |||
| Redeemable convertible preferred stock, par value (in dollars per share) | $0 | $0 | |||
| Redeemable convertible preferred stock, shares authorized (in shares) | 0 shares | 120.7M shares | |||
| Redeemable convertible preferred stock, shares issued (in shares) | 0 shares | 118.2M shares | |||
| Redeemable convertible preferred stock, shares outstanding (in shares) | 0 shares | 118.2M shares | 118.2M shares | 118.2M shares | 118.1M shares |
| Redeemable convertible preferred stock, liquidation preference (in shares) | $0 | $455.6M | |||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 750.0M shares | 750.0M shares | 181.5M shares | ||
| Common stock, shares issued (in shares) | 58.4M shares | 8.2M shares | |||
| Common stock, shares outstanding (in shares) | 58.4M shares | 8.2M shares | |||
| Accounts receivable, net | $34.6M | $23.4M | |||
| Accounts payable | $10.3M | $4.2M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$12.8M | -$47.1M | -$67.5M |
| Depreciation and amortization | $5.5M | $4.8M | $4.4M |
| Share-based compensation | $13.0M | $9.4M | $8.7M |
| Loss on debt extinguishment | $2.1M | $0 | $1.5M |
| Loss on disposal of property and equipment | $8.0K | $2.0K | $151.0K |
| Amortization of debt issuance costs | $285.0K | $389.0K | $416.0K |
| Non-cash operating lease expense | $447.0K | $728.0K | $683.0K |
| Change in fair value of warrants | $1.5M | -$218.0K | $1.0M |
| Amortization of deferred commissions | $3.3M | $2.6M | $1.8M |
| Accounts receivable | -$12.4M | -$8.8M | -$5.3M |
| Inventory | -$1.2M | $318.0K | -$74.0K |
| Prepaid expenses and other current assets | -$1.4M | -$1.9M | -$1.5M |
| Deferred commissions | -$3.5M | -$6.4M | -$3.7M |
| Other non-current assets | $251.0K | $409.0K | $213.0K |
| Operating lease liabilities | -$415.0K | -$783.0K | -$716.0K |
| Accrued expenses and other current liabilities | $10.6M | $5.3M | $8.3M |
| Deferred revenue | $5.5M | $4.6M | $1.4M |
| Other non-current liabilities | $0 | $180.0K | $105.0K |
| Net cash provided by (used in) operating activities | $18.3M | -$34.2M | -$49.7M |
| Purchases of property and equipment | -$1.3M | -$596.0K | -$416.0K |
| Capitalized internal-use software costs | -$4.5M | -$3.3M | -$2.5M |
| Net cash used in investing activities | -$5.8M | -$3.9M | -$2.9M |
| Proceeds from issuance of Midcap term facility | $0 | $0 | $31.0M |
| Payment of Midcap term facility issuance costs | $0 | $0 | -$1.8M |
| Proceeds from exercise of stock options | $9.4M | $3.3M | $1.8M |
| Payment of deferred offering costs | -$4.3M | -$4.5M | -$111.0K |
| Payment of debt extinguishment costs | -$1.4M | $0 | -$623.0K |
| Proceeds from initial public offering, net of underwriting discounts and commissions | $160.5M | $0 | $0 |
| Net cash provided by (used in) financing activities | $133.2M | -$1.2M | $179.0K |
| Net increase (decrease) in cash and cash equivalents | $145.6M | -$39.3M | -$52.5M |
| Interest | $2.4M | $3.9M | $4.1M |
| Share-based compensation expense capitalized in internal-use software | $184.0K | $97.0K | $76.0K |
| Unpaid deferred offering costs included in accounts payable | $0 | $131.0K | $23.0K |
| Unpaid property and equipment included in accounts payable | $16.0K | $65.0K | $26.0K |
| Conversion of redeemable convertible preferred stock in connection with initial public offering | $452.1M | $0 | $0 |
| Provision for credit losses | $1.2M | $1.8M | $452.0K |
| Accounts payable | $6.3M | $399.0K | -$286.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led Omada Health, Inc., and when. Pick a name to see everywhere that person has worked.
- PresidentWei-Li Shao Jun 5, 2025 to now8
- Chief financial officerSteven L. Cook Jun 5, 2025 to now9
Board members and other officers (8)
- Chief Accounting OfficerCraig Gracey Jun 5, 2025 to now10
- Board memberAdam Stavisky Jun 5, 2025 to now11
- Board memberAnne Beal Jun 5, 2025 to now12
- Board memberJeryl L. Hilleman Jun 5, 2025 to now13
- Board memberJonathan D. Root Jun 5, 2025 to now14
- Board memberJulie D. Klapstein Jun 5, 2025 to now15
- Board memberSachin H. Jain Jun 5, 2025 to now16
- Board memberTrevor Fetter Jun 5, 2025 to now17
Timeline
- Apr 25, 2011Founded Omada Health, Inc. is founded2
Filings
230 filings to the SEC since October 2021: 1 annual reports, 4 quarterly reports, 8 major events, 129 insider forms, 14 large holders, 74 other. The latest 20:
- Oct 7, 20264 EDGAR
- Oct 7, 20264 EDGAR
- Oct 7, 20264 EDGAR
- Oct 7, 20264 EDGAR
- Oct 5, 20264 EDGAR
- Oct 1, 2026144 EDGAR
- Sep 14, 20264 EDGAR
- Sep 14, 20264 EDGAR
- Sep 14, 20264 EDGAR
- Sep 11, 20264 EDGAR
- Sep 10, 2026144 EDGAR
- Sep 10, 2026144 EDGAR
- Sep 10, 2026144 EDGAR
- Sep 9, 2026144 EDGAR
- Sep 9, 20264 EDGAR
- Sep 9, 20264 EDGAR
- Sep 9, 20264 EDGAR
- Sep 4, 20264/A EDGAR
- Sep 3, 20264 EDGAR
- Sep 3, 20264 EDGAR
The 230 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
61 open-market trades by officers, directors and large owners since October 2021: 0 buys and 61 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 10, 2026 | Duffy Sean P.Chief Executive Officer | Sale | 14,960 | $21.87 | $327.2K | Form 4 |
| Sep 10, 2026 | Cook Steven L.Chief Financial Officer | Sale | 6,800 | $21.86 | $148.7K | Form 4 |
| Sep 10, 2026 | Shao Wei-LiPresident | Sale | 4,036 | $21.85 | $88.2K | Form 4 |
| Sep 9, 2026 | Gracey CraigChief Accounting Officer | Sale | 644 | $21.73 | $14.0K | Form 4 |
| Sep 1, 2026 | Duffy Sean P.Chief Executive Officer | Sale | 21,572 | $23.62 | $509.5K | Form 4 |
| Aug 27, 2026 | Cook Steven L.Chief Financial Officer | Sale | 1,108 | $25.00 | $27.7K | Form 4 |
| Aug 12, 2026 | Shao Wei-LiPresident | Sale | 9,418 | $25.02 | $235.6K | Form 4 |
| Aug 12, 2026 | Shao Wei-LiPresident | Sale | 8,866 | $25.02 | $221.8K | Form 4 |
| Aug 11, 2026 | Cook Steven L.Chief Financial Officer | Sale | 1,607 | $25.01 | $40.2K | Form 4 |
| Aug 10, 2026 | Cook Steven L.Chief Financial Officer | Sale | 15,235 | $25.03 | $381.3K | Form 4 |
| Aug 10, 2026 | Gracey CraigChief Accounting Officer | Sale | 1,042 | $25.00 | $26.1K | Form 4 |
| Aug 10, 2026 | Duffy Sean P.Chief Executive Officer | Sale | 12,942 | $24.81 | $321.1K | Form 4 |
| Aug 7, 2026 | Duffy Sean P.Chief Executive Officer | Sale | 8,628 | $21.85 | $188.5K | Form 4 |
| Aug 3, 2026 | Duffy Sean P.Chief Executive Officer | Sale | 12,944 | $20.40 | $264.1K | Form 4 |
| Jul 15, 2026 | Cook Steven L.Chief Financial Officer | Sale | 12,150 | $24.01 | $291.7K | Form 4 |
| Jul 13, 2026 | Gracey CraigChief Accounting Officer | Sale | 1,041 | $24.00 | $25.0K | Form 4 |
| Jul 13, 2026 | Cook Steven L.Chief Financial Officer | Sale | 5,800 | $24.00 | $139.2K | Form 4 |
| Jul 7, 2026 | Cook Steven L.Chief Financial Officer | Sale | 12,337 | $23.09 | $284.9K | Form 4 |
| Jul 1, 2026 | Cook Steven L.Chief Financial Officer | Sale | 23,263 | $22.76 | $529.5K | Form 4 |
| Jul 1, 2026 | Duffy Sean P.Chief Executive Officer | Sale | 25,886 | $22.68 | $587.2K | Form 4 |
All 61 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- AMERICAN CENTURY INVESTMENT MANAGEMENT INCSCHEDULE 13G, 1 filing Aug 14, 202618
- Divisadero Street Capital Management, LPSCHEDULE 13G/A, 3 filings Mar 2, 2026 to Aug 14, 202619
- Cigna Ventures, LLCSCHEDULE 13G, 1 filing Jun 23, 202620
- Andreessen Horowitz Fund IV, L.P.SCHEDULE 13G/A, 3 filings Aug 14, 2025 to May 15, 202621
- FMR LLCSCHEDULE 13G/A, 3 filings Jul 8, 2025 to May 6, 202622
- Presidio Management Group X LLCSCHEDULE 13G/A, 2 filings Aug 14, 2025 to Feb 17, 202623
- Revelation Alpine, LLCSCHEDULE 13G, 1 filing Aug 12, 202524
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Revelation Capital Management, LLC | 4,858,034 | $106.6M | 97.3% | −350,000 |
| Divisadero Street Capital Management, LP | 3,799,695 | $83.4M | 1.9% | −2,088,020 |
| American Century Companies Inc | 3,678,676 | $80.7M | 0.0% | +1,222,367 |
| Morgan Stanley | 2,800,887 | $61.5M | 0.0% | +1,334,111 |
| Fmr LLC | 2,775,102 | $60.9M | 0.0% | −513,278 |
| Nvp Associates, LLC | 2,531,000 | $55.6M | 16.9% | No change |
| BlackRock, Inc. | 2,222,074 | $48.8M | 0.0% | +317,516 |
| Vanguard Capital Management LLC | 1,926,594 | $42.3M | 0.0% | +117,610 |
| Millennium Management LLC | 1,724,057 | $37.8M | 0.0% | +620,062 |
| Loomis Sayles & Co L P | 1,598,787 | $35.1M | 0.0% | −113,989 |
| D. E. Shaw & Co., Inc. | 1,202,058 | $26.4M | 0.0% | +1,047,066 |
| a16z Capital Management, L.L.C. | 1,153,639 | $25.3M | 0.2% | −1,153,645 |
| Oberweis Asset Management Inc/ | 1,048,800 | $23.0M | 0.5% | New |
| Nuveen, LLC | 950,724 | $20.9M | 0.0% | +911,264 |
| Arrowstreet Capital, Limited Partnership | 843,583 | $18.5M | 0.0% | +752,561 |
| Archon Capital Management LLC | 790,994 | $17.4M | 7.0% | +65,874 |
| Perceptive Advisors LLC | 786,330 | $17.3M | 0.3% | No change |
| Jefferies Financial Group Inc. | 684,091 | $15.0M | 0.1% | −124,900 |
| State Street Corp | 611,056 | $13.4M | 0.0% | +62,584 |
| Point72 Asset Management, L.P. | 597,997 | $13.1M | 0.0% | −308,210 |
| Geode Capital Management, LLC | 595,970 | $13.1M | 0.0% | +65,072 |
| Madryn Asset Management, LP | 583,800 | $12.8M | 34.7% | No change |
| Bienville Capital Management, LLC | 573,314 | $12.6M | 1.8% | −324,451 |
| Walleye Capital LLC | 530,670 | $11.6M | 0.1% | +178,227 |
| Citadel Advisors LLC | 507,747 | $11.1M | 0.0% | +355,513 |
13F reports cover disclosed long positions in U.S. stocks only.
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8SEC EDGARWei-Li Shao, President
- 9
- 10
- 11SEC EDGARAdam Stavisky, Board member
- 12SEC EDGARAnne Beal, Board member
- 13SEC EDGARJeryl L. Hilleman, Board member
- 14SEC EDGARJonathan D. Root, Board member
- 15SEC EDGARJulie D. Klapstein, Board member
- 16SEC EDGARSachin H. Jain, Board member
- 17SEC EDGARTrevor Fetter, Board member
- 18
- 19
- 20
- 21
- 22
- 23
- 24