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Omada Health (OMDA) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Omada Health (OMDA) Q3 2026 earnings results →
Q3 2026 Revenue up 34% year over year to $91.3M · 7¢ of every $1 of revenue kept as net profit · operating margin 5.3%
Omada Health made $91.3M in Q3 2026 (+34% Y/Y): Services $85.1M, Hardware $6.2M. Operating margin 5.3%, net earnings $6.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $91.3M in Q3 2026, up 34% year over year and up 4% from the previous quarter. Services was the largest line at 93% of revenue. Services added $22.2M year over year (up 35%), 95% of the total change.
Gross margin was 75.9%, up 9.6 points from Q3 2025. Operating profit was $4.8M, a 5.3% margin (up 9.0 points year over year). Operating expenses grew 35% against revenue growth of 34%. The fastest-growing cost line was Research & development (+48%). Net earnings were $6.6M. The effective tax rate was 0.0%. Non-operating items added $1.7M, 26% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $15.1M (up 49% year over year), 231% of net earnings. Non-cash charges added back $1.7M of depreciation and amortization and $5.9M of share-based compensation. Working capital and other items added $1.1M. Capital expenditures of $118K left free cash flow of $15.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $91.3M | +34% | 5.3% | $6.6M | $15.1M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $87.8M | +43% | 4.0% | $5.3M | $4.0M |
| Q1 2026 | 10-Q | May 8, 2026 | $78.0M | +42% | -6.1% | −$3.0M | −$11.8M |
| Q4 2025 | 10-K | Mar 6, 2026 | $75.8M | +58% | 4.3% | $5.2M | $21.4M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $68.0M | +50% | -3.7% | −$3.2M | $10.1M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $61.4M | +49% | -7.1% | −$5.3M | $2.9M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
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About Omada Health
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.
In its own words, from its 10-K, filed Mar 6, 2026.
Omada Health against its Services-Health Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +34% against the peers' median +13%. Operating margin: 5.3% against the peers' median 5.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| OMDA Omada Health | Q3 2026 | $91.3M | +34% | 5.3% |
| PRVA Privia Health Group | Q3 2026 | $657M | +13% | 3.1% |
| LFST LifeStance Health Group | Q3 2026 | $456M | +25% | 7.3% |
| PIII P3 Health Partners | Q2 2026 | $386M | +9% | 10.7% |
| PNTG Pennant Group | Q3 2026 | $302M | +32% | 5.5% |
| INNV InnovAge Holding | Q1 FY27 | $265M | +12% | 7.6% |
| USPH U S Physical Therapy | Q3 2026 | $223M | +13% | 11.3% |
| WGS GeneDx Holdings | Q2 2026 | $114M | +11% | -15.3% |
| DCGO DocGo | Q2 2026 | $73.4M | -9% | -24.4% |
Source: Omada Health 10-Q on SEC EDGAR · CIK 1611115 · Services-Health Services
Guidance and outlook
13F: who owns OMDA and who is buying
More on OMDA
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results
- Omada Health guidance history: guided vs reported
- Omada Health gross margin by quarter
- Omada Health operating margin by quarter
- Omada Health net income by quarter
- Omada Health free cash flow by quarter
- Omada Health R&D spending by quarter
- Omada Health capital expenditures by quarter
- Omada Health Services revenue by quarter
- Omada Health Hardware revenue by quarter