PresentationGood morning, everyone. My name is Lisa Gill, and I head up Health Care Services here at JPMorgan. This morning, with great pleasure, I have with us Omada Health. This is actually Omada Health's first time as a public company presenting. I know you've been here many times as a private company. Presenting for the company will be Sean Duffy, and then we will have a little fireside chat afterwards with Wei-Li and Steve Hooks. So with that, let me turn it over to you, Sean.Sean DuffyCo-Founder, CEO ...

Omada Health FY Conference Summary Company Overview - **Company**: Omada Health (NasdaqGS:OMDA) - **Industry**: Digital Health and Chronic Disease Management - **Mission**: To bend the curve of disease and improve care for chronic disease patients, particularly those with obesity, diabetes, and other related conditions [3][4] Key Highlights Financial Performance - **Revenue**: $257 million for FY 2025, representing a **52% year-over-year growth** [6][26] - **Members Supported**: 886,000 active members [7][26] - **Adjusted Gross Margin**: Upper 60s% for LTM Q3 2025, improved from the 50s% in 2022 [26] - **Adjusted EBITDA Margin**: -2.4% for LTM Q3 2025, improved from nearly -70% in 2022, with the first positive adjusted EBITDA quarter of $2.4 million in Q3 2025 [27] Market Position and Strategy - **Target Market**: Over 20 million Americans covered by Omada's programs through 2,000+ customers, including self-insured employers and health plans [5][18] - **Expansion**: Initially focused on prediabetes and obesity, now expanded to diabetes, hypertension, and musculoskeletal (MSK) care [6][9] - **Growth Drivers**: - Multi-product offerings, including the new GLP-1 Care Track [21] - Customer-driven expansion based on demand for comprehensive care solutions [9][19] Product and Service Offerings - **Care Model**: Combines technology and personalized care to support patients between doctor visits [5][10] - **GLP-1 Care Track**: Launched to provide behavioral support alongside GLP-1 medications, addressing concerns about medication adherence and effectiveness [21][22] - **Engagement Metrics**: Over 55% of members remain engaged after 12 months, and 50% after two years [14][15] Clinical and Economic Outcomes - **Clinical Evidence**: 30 peer-reviewed publications demonstrating the effectiveness of Omada's programs [15][16] - **Economic Value**: Expected ROI of 3-6x in musculoskeletal care, with gross healthcare savings of $1,000-$1,500 per member [16][26] Future Outlook - **Investment Focus for 2026**: Emphasis on AI initiatives and enhancing prescribing capabilities to drive long-term growth and margin expansion [41][42] - **Market Trends**: Increased focus on chronic disease management from government and employers, with potential opportunities in Medicare Advantage [54][56] - **Customer Demand**: Growing interest in combining prescribing with behavioral management for chronic conditions [43][44] Additional Insights - **Customer Relationships**: Strong demand for multi-product solutions, with 75% of new clients opting for more than one condition [52] - **Regulatory Environment**: Positive dialogue with government regarding chronic disease management, indicating potential for future partnerships [54][56] - **Technological Integration**: Use of AI to enhance member experience and operational efficiency, with features like nutritional intelligence agents [38][39] This summary encapsulates the key points from Omada Health's FY conference, highlighting the company's growth, strategic direction, and the evolving landscape of chronic disease management.

Core Insights - Omada Health announced preliminary, unaudited revenue for Q4 and fiscal year 2025, indicating strong growth ahead of the J.P. Morgan Healthcare Conference [1][4] Financial Performance - Q4 2025 revenue is projected to be between $72 million and $74 million, reflecting a year-over-year increase of 50% to 54% compared to Q4 2024 [2] - For the full year 2025, revenue is expected to be between $256 million and $258 million, representing growth of 51% to 52% compared to 2024 [2] Membership Growth - Total members reached approximately 886,000 as of December 31, 2025, marking a 55% increase year-over-year [2] Business Model and Strategy - The company emphasizes the relevance of its between-visit care model, which integrates human-led care teams, connected devices, and AI technology to provide personalized care [4][5] - Enhancements in GLP-1 care offerings and AI utilization are aimed at improving member outcomes and adapting to changing healthcare dynamics [4]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 January 12, 2026 Date of Report (date of earliest event reported) Omada Health, Inc. (Exact name of registrant as specified in its charter) Delaware 001-42679 45-2355015 (Commission File Number) ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchan ...

New analysis adds to existing evidence that Omada’s program paired with GLP-1 medications leads to greater weight loss and persistence than reported in real world evidenceSAN FRANCISCO, Jan. 08, 2026 (GLOBE NEWSWIRE) -- Omada Health (Nasdaq: OMDA), the virtual-first, between-visit health care provider, today announced results from a 12-month real-world analysis of members in its GLP-1 companion program. By extending a previous six-month analysis, findings underscore the program’s role in helping employers m ...

SAN FRANCISCO, Jan. 08, 2026 (GLOBE NEWSWIRE) -- Omada Health (Nasdaq: OMDA), the virtual-first, between-visit health care provider, today announced results from a 12-month real-world analysis of members in its GLP-1 companion program. By extending a previous six-month analysis, findings underscore the program’s role in helping employers manage the complexity of today’s weight loss medication market while delivering measurable, long-term value.1 The new analysis found that members who stayed in the program ...

SAN FRANCISCO, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Omada Health (Nasdaq: OMDA), the virtual between-visit healthcare provider, today announced that members of senior management will participate in the 44th Annual J.P. Morgan Healthcare Conference, taking place in San Francisco, including a presentation on Wednesday, Jan. 14, at 9 a.m. PST. The webcast will be available online at https://investors.omadahealth.com/news-events/events. A replay will also be available at the same link following the event. About Om ...

SAN FRANCISCO, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Omada Health (Nasdaq: OMDA), the virtual between-visit healthcare provider, today announced that members of senior management will participate in the 44th Annual J.P. Morgan Healthcare Conference, taking place in San Francisco, including a presentation on Wednesday, Jan. 14, at 9 a.m. PST. The webcast will be available online at https://investors.omadahealth.com/news-events/events. A replay will also be available at the same link following the event. About Om ...

Core Insights - The previous investment perspective on Omada Health (OMDA) was a buy rating due to positive trends in membership growth, adoption, and GLP-1 Care Track [1] Investment Approach - The investment strategy focuses on long-term investments while also incorporating short-term shorts to identify alpha opportunities [1] - The analysis is based on a bottom-up approach, examining the fundamental strengths and weaknesses of individual companies [1] - The investment horizon is medium to long-term, aiming to find companies with solid fundamentals, sustainable competitive advantages, and growth potential [1]

Omada Health FY Conference Summary Company Overview - **Company**: Omada Health (NasdaqGS:OMDA) - **Industry**: Health Care Services and Technology - **Recent Event**: IPO over the summer of 2025, indicating strong market interest and performance [2][3][5] Core Business Model - Omada Health operates as a "between-visit care provider," focusing on chronic disease management [5][9] - The business model involves charging self-insured employers, fully insured plans, and integrated systems a monthly membership fee for comprehensive services [9][10] - The mission is to improve health outcomes and reduce costs through persistent longitudinal care [5][9] New Service Offerings - Introduction of the **GLP-1 Care Track** aimed at supporting weight loss for members on therapy, showing a 28% increase in weight loss outcomes [18][19] - The service is designed to help members optimize medication use and reduce waste, addressing employer concerns about medication costs and effectiveness [19][20] Financial Insights - The monthly fee structure will increase if clients opt for the prescribing capability, which is expected to be accretive to revenue and margins [24][25] - Long-term targets include achieving over 20% operating margins while maintaining growth [31] Market Dynamics - Anticipated that the GLP-1 prescribing care track will contribute to the P&L primarily in 2027, with some potential deployments in 2026 [37] - The selling season for 2026 is characterized by strong interest from employers, with a mix of those willing to cover medications and those unable to afford them [39][42] AI Integration - Omada is leveraging AI technologies to enhance member engagement and operational efficiency, with tools like Omada Spark and Meal Map [49][50] - AI is seen as a means to improve care team efficiency and increase revenue per user (ARPU) while maintaining quality of care [53][54] Strategic Partnerships - Collaboration with telehealth partners for medication prescriptions to streamline operations and enhance member experience [32][36] - Positive feedback from channel partners like CVS, indicating a gradual build-up of trust and client acquisition [47] Future Outlook - Omada aims to maximize the benefits of new medications and technologies through integrated care solutions, positioning itself as a leader in the health tech space [57] - The company is focused on product innovation and expanding its service offerings to meet diverse employer needs [57][58]