teleo-codex/inbox/queue/2026-03-05-omada-health-fy2025-results-first-profitable-quarter.md

---
type: source
title: "Omada Health FY2025: $260M Revenue (+53%), First Profitable Quarter, 886K Members — AI-Native Health Model Validation"
author: "Omada Health, Inc. (OMDA)"
url: https://investors.omadahealth.com/news-releases/news-release-details/omada-health-reports-fourth-quarter-and-full-year-2025-results
date: 2026-03-05
domain: health
secondary_domains: []
format: earnings-report
status: unprocessed
priority: high
tags: [Omada, digital-health, GLP-1, behavioral-health, atoms-to-bits, VBC, employer-market, IPO]
intake_tier: research-task
---

## Content

Omada Health Q4 and Full-Year 2025 earnings results:

**Revenue:**
- Q4 2025: $76M (+58% YoY)
- Full-Year 2025: $260M (+53% from $169.8M in 2024)
- 2026 guidance: $312-322M (22% growth at midpoint)

**Profitability:**
- Q4 2025 net income: PROFITABLE (vs $8M net loss Q4 2024) — first profitable quarter in company's 14-year history
- Full-Year 2025 net loss: $13M (vs $47M net loss in 2024) — massive improvement
- Q4 Adjusted EBITDA: $8M (vs -$4M in Q4 2024)
- Full-Year Adjusted EBITDA: $6M (vs -$29M in 2024) — first positive full-year EBITDA

**Gross margins:**
- Q4 2025 gross margin: 71% (up from 67% Q4 2024)
- FY2025 gross margin: 66% (up from 61% in 2024)

**Membership:**
- Q4 2025: 886,000 members (+55% YoY)
- Q3 2025: 831,000 (+53% YoY)

**GLP-1 programs:**
- Enhanced GLP-1 Care Track: 67% persistence at 12 months (vs 47-49% comparison cohort)
- 18.4% average weight loss at 12 months for persistent members; 16.3% overall; 44% better than semaglutide real-world evidence
- GLP-1 Flex Care announced March 5, 2026: employer cash-pay option (employer pays for program, member uses pharmacy benefits for medication)

**GLP-1 prescribing:**
- Announced prescribing capability (nationwide) launching in 2026
- This moves Omada from behavioral companion model to full clinical program

**IPO context:**
- IPO June 6, 2025 at $19/share (middle of expected range)
- Opened at $23/share (+21%), rose to $28 intraday
- $150M raised; valuation ~$1B at pricing
- Second major digital health IPO in 2025 (after Hinge Health)

## Agent Notes
**Why this matters:** Omada achieving first profitable quarter validates the AI-native health company economic model from the KB claim AI-native health companies achieve 3-5x the revenue productivity of traditional health services. The Q4 profitability flip (from -$8M to positive) after IPO demonstrates that the behavioral digital health model can reach positive unit economics. The 67% GLP-1 persistence vs 47-49% comparison is the clinical differentiation thesis in practice: behavioral support creates better medication adherence.

**What surprised me:** The timing of profitability — Q4 2025, only 6 months post-IPO. Many digital health companies burned cash for years. The combination of revenue growth (+53%) and profitability inflection in the same year is unusual. Also: the GLP-1 Flex Care employer model is clever — it separates the drug cost (employer-burden) from the program cost (employer-buyable), directly addressing the covered lives decline problem (employers want programs without medication cost exposure).

**What I expected but didn't find:** CGM integration for the general obesity/GLP-1 program. The company still relies on behavioral data and coach/AI oversight, not physical sensor integration. This is the third session confirming the absence for the obesity program (diabetes program has CGM).

**KB connections:**
- [[AI-native health companies achieve 3-5x the revenue productivity of traditional health services because AI eliminates the linear scaling constraint between headcount and output]] — $260M revenue with behavioral + tech model, now at positive EBITDA, supports this
- healthcares defensible layer is where atoms become bits — Omada is building defensibility through longitudinal behavioral data and outcomes data, not physical sensors (open question for Belief 4)
- consumer willingness to pay out of pocket for AI-enhanced care is outpacing reimbursement creating a cash-pay adoption pathway — GLP-1 Flex Care is precisely this model at the employer level

**Extraction hints:**
- Potential claim enrichment: AI-native health companies achieve 3-5x the revenue productivity... — add Omada Q4 2025 profitability as real-world evidence
- The 67% persistence vs. 47-49% comparison is a quantified behavioral companion program value proof — could be a new claim: "Structured behavioral support programs improve GLP-1 persistence from 47-49% to 67% at 12 months, with proportional improvement in weight outcomes"
- The employer cash-pay model (GLP-1 Flex Care) deserves its own claim about how covered lives decline is creating new employer purchasing models

**Context:** Omada Health is the leading digital health chronic disease management company. IPO validates the model; Q4 profitability is the unit economics proof. The company's GLP-1 expansion (from behavioral companion to prescribing) puts them in direct competition with WW Med+ and Hims/Hers.

## Curator Notes (structured handoff for extractor)
PRIMARY CONNECTION: AI-native health companies achieve 3-5x the revenue productivity of traditional health services — first real-world profitability data for a leading AI-native health company
WHY ARCHIVED: Q4 2025 profitability inflection is a landmark for the digital health model; GLP-1 Flex Care employer cash-pay structure is a novel response to covered lives decline
EXTRACTION HINT: Two separate extractions likely needed: (1) profitability as evidence for AI-native unit economics claim; (2) GLP-1 behavioral companion outcomes data (67% persistence) as evidence for behavioral support value claim. Don't conflate.