Omada Health, Inc. reported significant financial growth in its latest quarterly filing, with total revenue reaching $68.0 million for the three months ended September 30, 2025, a 49% increase from $45.5 million in the same period last year. For the nine months ended September 30, 2025, revenue surged to $184.4 million, up 51% from $121.8 million in the prior year. The company attributed this growth primarily to a 52% increase in average total members, which rose to 831,000, reflecting the successful expansion of its virtual care programs.
Despite the revenue increase, Omada Health reported a net loss of $3.2 million for the third quarter of 2025, an improvement from a loss of $9.2 million in the same quarter of 2024. For the nine-month period, the net loss was $17.9 million, down from $38.9 million year-over-year. The company’s gross profit also improved significantly, reaching $45.1 million for the third quarter, compared to $28.6 million in the previous year, resulting in a gross margin of 66.3%, up from 62.8%.
Operationally, Omada Health has made strides in enhancing its service offerings and customer engagement. The company has expanded its product line to include programs for diabetes, hypertension, and musculoskeletal conditions, alongside its original diabetes prevention program. The increase in member engagement is reflected in the growth of services revenue, which rose by 50% to $62.9 million in the third quarter. The company also reported a 63% increase in hardware revenue, driven by the delivery of connected devices to new members.
In terms of strategic developments, Omada Health completed its initial public offering (IPO) on June 9, 2025, raising approximately $172.6 million in gross proceeds. The company utilized a portion of these funds to fully repay its outstanding debt, including a $30 million term loan and a $1 million revolving credit facility. As of September 30, 2025, Omada's cash and cash equivalents stood at $198.6 million, a significant increase from $76.4 million at the end of 2024, providing a solid liquidity position to support future growth initiatives.
Looking ahead, Omada Health remains focused on expanding its customer base and enhancing its service offerings. The company aims to leverage its strong market position and growing member engagement to drive further revenue growth. However, it acknowledges potential challenges, including market competition and the need to maintain effective operational controls, as highlighted by ongoing efforts to address identified weaknesses in its internal control over financial reporting.
About Omada Health, Inc.
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