Omada Health Sets Ambitious Long-Term Targets Amid Rapid Growth — Omada Health, Inc.

Event summary

Omada Health announced long-term financial targets at its inaugural Investor Day on September 10, 2026.
Targets include 20% annual revenue growth, 80% non-GAAP gross margin, and 30% adjusted EBITDA margin.
Company tripled member base and revenue from 2023 to Q2 2026, growing members from 0.3M to 1.09M and revenue from $123M to $310M.
Non-GAAP gross margin expanded from 60% to 70% during the same period.
Key drivers for margin expansion include AI automation, improved coach productivity, and supply chain optimization.

The big picture

Omada Health's updated targets reflect its confidence in scaling a virtual-first healthcare model that addresses chronic conditions. The company's focus on covered lives, enrollment, engagement, and efficiency aligns with broader industry trends toward digital health solutions and value-based care. With significant investments in AI and operational leverage, Omada aims to deliver durable growth and profitability at scale.

What we're watching

Scale and Momentum: Whether Omada can sustain its rapid growth in covered lives through national partners like Optum Rx and Health Care Service Corporation.
Operational Efficiency: The pace at which Omada can achieve 80% non-GAAP gross margin and 30% adjusted EBITDA margin through AI and operational efficiencies.
Market Positioning: How Omada's virtual-first model will compete in the evolving healthcare landscape, particularly in managing chronic conditions.