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Omada Health (OMDA) Stock Falls 21% Despite Raised Outlook
Omada Health stock was down 20.8% on November 6, 2026 even after Q3 revenue rose 34% to $91 million and the company raised its full-year 2026 outlook.
Omada Health stock (NASDAQ: OMDA) was down 20.84% in regular trading on November 6, 2026, the morning after the virtual chronic-care provider reported third-quarter results and raised its full-year outlook. Quarterly revenue rose 34% to $91 million from $68 million a year earlier.
What Omada Health reported
| Metric | This period | A year earlier | Change |
|---|---|---|---|
| Revenue | $91.3 million | $68.0 million | +34% |
| Gross margin | 76% | 66% | +10 points |
| Net income (loss) | $6.6 million | ($3.2 million) | Swung to profit |
| Adjusted EBITDA | $12 million | $2 million | +$10 million |
| Diluted earnings per share | $0.10 | ($0.06) | Swung to profit |
Gross margin is the share of revenue left after the direct cost of delivering the service. Adjusted EBITDA is a profit measure that strips out interest, taxes, depreciation, stock-based pay and some one-off items. Total Members, people enrolled in a program who generated a bill in the past 12 months, reached a record 1.1 million, up 36%. Average member tenure grew 10% to about two years and four months.
Omada raised its 2026 guidance, meaning its own forecast. It now expects revenue of $344 million to $346 million, up from $334 million to $340 million, and Adjusted EBITDA of $32 million to $34 million, up from $21 million to $27 million. CEO Sean Duffy called it "its strongest quarter yet."
Why the stock fell 20.8%
The drop is about five times the size of a typical day's swing for the stock. It came despite the higher guidance, which puts the outlook's details in focus. The new full-year revenue range, set against $257 million of revenue in the first nine months, implies fourth-quarter revenue below the $91 million just reported. Operating expenses also climbed 35% to $64 million, slightly faster than revenue.
What to watch next
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Whether 2026 revenue lands within the raised $344 million to $346 million range
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Whether Adjusted EBITDA reaches the new $32 million to $34 million target
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Trends in Total Members and average member tenure in coming quarterly results
FAQ
Is Omada Health profitable?
Yes, on a reported basis so far this year. Net income for the first nine months of 2026 was $8.9 million, compared with a loss of $17.9 million in the same period of 2025.
How much cash does Omada Health have?
Omada held $243 million in cash and cash equivalents at September 30, 2026, up from $222 million at the end of 2025. Operating activities generated $7.3 million of cash in the first nine months of the year.
Sources
This article is for information only and is not investment advice.