Omada Health Stock Falls 20% on Day After Q3 Results and Raised Guidance

Omada Health (Nasdaq: OMDA) shares fell 20.4% on Friday, closing at $15.09 from $18.95 the previous session. Trading volume ran at 5.5 times its usual level, while the S&P 500 ETF (SPY) rose 0.31%. The drop came the day after the company reported third-quarter results in an 8-K accepted after the close on Thursday. Neither the filing nor the press release attached to it gives a reason for the decline in the shares.

Revenue and members rose

The press release reported third-quarter revenue of $91.3 million, up 34% from a year earlier, and total members of 1.1 million, up 36%. Net income was $6.6 million, compared with a net loss of $3.2 million in the same quarter of 2025. Adjusted EBITDA reached $12.4 million, against $2.4 million a year earlier.

Full-year outlook raised

The company raised its 2026 outlook. Revenue guidance moved to $344 million to $346 million from $334 million to $340 million. Adjusted EBITDA guidance moved to $32 million to $34 million from $21 million to $27 million.

Cash position

Cash and cash equivalents were $243.2 million at Sept. 30, 2026, up from $222.0 million at the end of 2025. For the nine months ended Sept. 30, the company reported free cash flow of $2.5 million. The company's market capitalization before the move was about $1.16 billion.