Filing Flows › Omada Health (OMDA) › Q2 2026 › vs Q2 2025
Omada Health (OMDA) Q2 2026 vs Q2 2025 (year over year)
Omada Health's revenue rose $26.5M (+43%) from $61.4M in Q2 2025 to $87.8M in Q2 2026. The biggest changes: Services +$23.7M (+42%); Hardware +$2.7M (+62%). Gross margin 72.6% against 65.7% (+6.9 pts).
Omada Health, Q2 2026: revenue $87.8M (+43% year over year), operating margin 4.0%, net earnings $5.3M, operating cash flow $4.0M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 72.6% | 65.7% | +6.9 pts |
| Operating margin | 4.0% | -7.1% | +11.1 pts |
| Net margin | 6.0% | -8.7% | +14.7 pts |
| Free cash flow margin | 4.4% | 4.2% | +0.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Services | $80.7M | $57.0M | $23.7M | +42% |
| Hardware | $7.1M | $4.4M | $2.7M | +62% |
| Revenue | $87.8M | $61.4M | $26.5M | +43% |
| Gross profit | $63.8M | $40.3M | $23.5M | +58% |
| Cost of revenue | $24.0M | $21.1M | $3.0M | +14% |
| Other income, net | $1.7M | −$967K | $2.7M | — |
| Operating profit | $3.5M | −$4.3M | $7.9M | — |
| Operating expenses | $60.2M | $44.6M | $15.6M | +35% |
| Pre-tax earnings | $5.3M | −$5.3M | $10.6M | — |
| Research & development | $14.6M | $10.0M | $4.6M | +46% |
| Sales & marketing | $29.9M | $22.3M | $7.6M | +34% |
| General & admin | $15.7M | $12.3M | $3.4M | +28% |
| Net earnings | $5.3M | −$5.3M | $10.6M | — |
| Operating cash sources | $12.5M | −$1.1M | $13.6M | — |
| Depreciation & amortization | $1.6M | $1.4M | $229K | +17% |
| Share-based compensation | $5.6M | $2.8M | $2.8M | +99% |
| Working capital & other | $8.5M | −$4.0M | $12.5M | — |
| Operating cash flow | $4.0M | $2.9M | $1.1M | +40% |
| Free cash flow (OCF − capex) | $3.9M | $2.6M | $1.3M | +49% |
| Capital expenditures | $146K | $271K | −$125K | -46% |
Questions
How much did Omada Health's revenue grow year over year in Q2 2026?
Omada Health's revenue rose $26.5M (+43%) from $61.4M in Q2 2025 to $87.8M in Q2 2026.
What drove Omada Health's revenue change in Q2 2026?
Services +$23.7M (+42%); Hardware +$2.7M (+62%).