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Virtual chronic care company Omada Health just had its best quarter ever — $91 million in revenue, 1.1 million members, and its first profitable quarter. The company is raising its full-year 2026 revenue outlook to $344–$346 million, up from its prior range. Despite the strong results, shares dropped 19% on concerns about a slower Q4 and extended GLP-1 selling season.
Omada Health, the virtual chronic care platform focused on diabetes, hypertension, obesity, and musculoskeletal conditions, reported its strongest quarter ever in Q3 2026 — delivering $91 million in revenue (up 34% year-over-year), a 76% GAAP gross margin, and its first-ever quarterly net income of $7 million. Total membership hit 1.1 million, up 36% year-over-year, with member retention climbing to 58% — up sharply from 43% in Q4 2024.
The company credited its cardiometabolic programs, longer member tenure, and lower care delivery costs for driving both growth and profitability. Omada also deepened its partnership with Health Care Services Corporation (HCSC) to expand into three additional states, potentially reaching 1.5 million more covered lives by 2027. Its GLP-1 care companion program — launched last November — is now live at Optum, with commercial ties to the three largest PBMs in the country.
By the Numbers:
Why it matters: Omada's results signal that virtual chronic disease management is maturing into a scalable, profitable business model — a meaningful milestone for digital health at large. However, investor concerns about a slower Q4 and an extended GLP-1 decision cycle among employers highlight the ongoing uncertainty in how employers and payers will commit to obesity care programs.
