Omada Health revenue jumps 49% year-over-year post-IPO

As a newly minted public entity, Omada Health's revenue reached $61 million in the second quarter of 2025, up 49% year-over-year.

The virtual chronic care provider released its Q2 2025 earnings report on Aug. 7, which shows an accelerating growth trajectory. Not only did Q2 2025 revenue jump 49% from $41 million in Q2 2024, but in the six months ending on June 30, 2025, revenue grew 52% to $116.3 million from $76.3 million in the first half of 2024.

Founded in 2011, Omada Health offers digital health programs focused on prediabetes, diabetes, hypertension and musculoskeletal issues. The programs leverage telehealth and remote patient monitoring to manage chronic disease between clinic visits.

The company reported that its membership spiked to 752,000, an increase of 52% compared to Q2 2024. Company leaders cited its GLP-1 Enhanced Care Track as a driver of membership growth. The care track offers members personalized access to care teams, nutrition support, exercise guidance and behavioral health tools.

Still, company leaders emphasized that GLP-1 track members are a relatively small percentage of total membership.

"A nice driver of member growth year over year has been our GLP-1 Care Track, but still represents a minority of our total membership," Omada Health President Weili Shao said during the earnings call. "We continue to see broader growth in our total membership across our cardiometabolic suite."

Further, Omada Health displayed a strong cash position in the first half of 2025. Cash and cash equivalents increased to $223.1 million in the six months ending on June 30, 2025, compared to $84 million in the six months ending on June 30, 2024. Leaders stated that the increase was driven by net IPO proceeds, which totaled $160.5 million. 

Omada Health has also improved its operating performance. The company significantly reduced its operating loss from $10 million in Q2 2024 to $4.3 million in Q2 2025. Not only that, but the company also reported a reduced adjusted EBITDA loss of $0.2 million in Q2 2025 compared to a loss of $6.8 million in Q2 2024.

During the earnings call, company leaders highlighted three pillars supporting its market growth: innovation, creating clinically effective programs and its multi-condition platform versus point solution approach. Leaders cited the company's OmadaSpark, an AI agent that provides information to members on various topics, as an example of its focus on innovation. They also noted that its multi-condition platform has been a key differentiator for Omada, resulting in 31% of its existing clients implementing multiple Omada products.

In the second half of the year, the company plans to continue to make targeted investments in certain business areas, including GLP-1s and AI.

"We're really attempting to balance growth and profitability," said Omada CFO Steve Cook. "We're going to be really adjudicating over the next couple of months, making sure we make targeted and strategic investments to continue to grow the top line while also having a lens to continue to run the business profitably."

The results come on the heels of Hinge Health's Q2 2025 earnings report. Hinge Health, which went public weeks before Omada, also reported a significant revenue jump of 55% to $139.1 million in Q2 2025 from $89.8 million in Q2 2024.

Anuja Vaidya has covered the healthcare industry since 2012. She currently covers the virtual healthcare landscape, including telehealth, remote patient monitoring and digital therapeutics.