OMDA▲
Omada Health Reports Record Q2 Revenue of $88 Million, Up 43%
Omada Health reported record second-quarter revenue of $88 million, a 43% year-over-year increase, alongside a record gross margin of 74% and adjusted EBITDA of $10.8 million. CFO Steve Cook discussed a leadership change announced the prior week, with co-founder and CEO Sean transitioning to executive chairman and President Wei Shao becoming CEO. The company is broadening its cardiometabolic platform through expanded health-plan and channel partnerships, including an additional 1.5 million covered lives via Health Care Service Corporation. About 15% of members were in GLP-1-related programs, and a prescribing offering through Optum is planned for next year. Cook said the midpoint of Omada's current revenue guidance implies 30% growth.