Omada Health (OMDA) closed FY 2025 with Q4 revenue of US$75.8 million, Basic EPS of US$0.09 and net income of US$5.2 million, giving investors a clean snapshot of how the year wrapped up. The company reported a quarterly revenue increase from US$48.0 million in Q4 2024 to US$75.8 million in Q4 2025, while Basic EPS moved from a loss of US$1.04 per share to a profit of US$0.09. This marks a clear shift in the earnings profile. With trailing twelve month figures still showing losses and margins under pressure, the latest numbers focus attention on how quickly profitability can broaden out from a single quarter to the full year picture.

See our full analysis for Omada Health.

With the headline figures on the table, the next step is to see how these results compare with the widely followed discussions about Omada Health’s growth potential, risks and path to sustained profitability.

See what the community is saying about Omada Health

53% revenue growth, but full year still shows a loss

• Over the trailing 12 months to Q4 2025, Omada Health generated US$260.2 million in revenue and reported a net loss of US$12.8 million, even though Q4 alone was profitable with net income of US$5.2 million.
• Consensus narrative points to strong growth potential, and the trailing figures give some support but also show the work still to do:
  • Revenue grew 53.2% over the last year and the latest trailing loss narrowed from US$47.1 million at Q4 2024 to US$12.8 million at Q4 2025, which lines up with analysts expecting about 18% yearly revenue growth and higher earnings over time.
  • At the same time, the company remains unprofitable on a trailing basis, so the consensus view that earnings could grow 86.47% a year still depends on turning this improving but negative starting point into consistent positive margins.

EPS swing contrasts with ongoing losses

• Quarterly Basic EPS moved from a loss of US$1.15 in Q1 2025 to a profit of US$0.09 in Q4 2025, while the trailing 12 month Basic EPS at Q4 2025 was still a loss of US$0.35 per share.
• Bulls argue that this kind of EPS shift is an early sign of the earnings power they are focused on, and the data gives them some talking points and some pushback:
  • The bullish narrative leans on earnings growing rapidly over time and points to improving profitability, and the move from trailing Basic EPS of a US$6.10 loss at Q4 2024 to a US$0.35 loss at Q4 2025 does show the loss per share getting much smaller over that period.
  • However, analysts in that bullish camp are still using a current net loss figure of about US$26.2 million as their base and do not expect full profitability over the next three years, which means one strong quarter on its own does not yet deliver the kind of earnings path they are assuming.

Bulls argue that Omada’s sharp EPS improvement hints at the kind of profit scale their models use, but the trailing loss and reliance on future margin gains mean the optimistic case still leans heavily on forward assumptions rather than current profits. 🐂 Omada Health Bull Case

Premium P/S multiple with mixed valuation signals

• Omada Health trades on a P/S ratio of 3.1x compared with a peer average of 1.9x and a US healthcare industry average of 1.3x, while the supplied models also show the shares at US$14.05 compared with a DCF fair value of about US$20.38 and an allowed analyst price target reference of US$23.73.
• Bears focus on that higher sales multiple, and the numbers both echo and complicate their case:
  • Critics highlight that paying 3.1x sales when peers sit closer to 1.9x and the wider industry at 1.3x could be demanding for a company that is still loss making on a trailing 12 month basis with a net loss of US$12.8 million.
  • What is more complicated for the bearish angle is that the same dataset flags the current price as about 31.1% below one estimate of fair value and also below the DCF fair value of about US$20.38, so investors weighing the higher P/S multiple also see model based upside alongside the ongoing lack of profitability.

Skeptics warn that paying a premium P/S for a loss making business is risky, yet the current price sitting below both an analyst target of about US$23.73 and a DCF fair value of roughly US$20.38 means the cautious view rests on concerns about future execution rather than the current valuation signals alone. 🐻 Omada Health Bear Case

Next Steps

To see how these results tie into long-term growth, risks, and valuation, check out the full range of community narratives for Omada Health on Simply Wall St. Add the company to your watchlist or portfolio so you'll be alerted when the story evolves.

Given the mixed signals in the story so far, this is a good moment to move quickly and review the numbers yourself. To see what others are optimistic about, take a look at 3 key rewards.

See What Else Is Out There

Omada Health still reports a trailing loss of US$12.8 million and relies on future margin improvement, so the path to consistent profitability is not yet clear.

If that dependence on unproven earnings momentum makes you uneasy, check out our 66 resilient stocks with low risk scores to focus on companies with steadier fundamentals and more predictable profiles.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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