Omada Health (OMDA) Morgan Stanley 23rd Annual Global Healthcare Conference summary

Business overview and growth

• Focuses on proactive, longitudinal care for chronic conditions like prediabetes, obesity, diabetes, hypertension, and musculoskeletal care, serving over 2,000 customers and 752,000 members as of Q2.

• Achieved $61 million in Q2 revenue, representing 49% year-over-year growth, and is experiencing strong momentum in digital health and metabolic care.

• Expanded from prediabetes and obesity into diabetes, hypertension, and MSK since 2019, with 31% of customers using multi-condition solutions.

• Penetration includes 14% of self-funded, 9% of fully insured, and 1% of Medicare Advantage markets, with early but growing traction in MA.

• Multi-condition and cross-selling strategies are driving higher ARPU and accelerating growth, with notable clients expanding product adoption over time.

Product innovation and differentiation

• GLP-1 Care Track supports members on GLP-1 medications, offering tailored support and demonstrating significant weight maintenance post-discontinuation.

• Differentiation comes from a proprietary care team platform, compassionate intelligence blending AI and human care, and 30 peer-reviewed publications validating outcomes.

• Modular technology enables rapid product launches and integration, such as the MSK offering, which leverages computer vision and personalized care plans.

• Platform approach preferred by buyers for managing multiple comorbidities, reducing administrative burden, and enabling cross-sell opportunities.

Technology and AI strategy

• Omada Spark umbrella leverages AI for food analysis, personalized nutrition, motivational interviewing, and care team efficiency.

• AI-driven features have delivered 20% efficiency gains in care team operations, with a focus on both quality and scalability.

• AI is seen as a set of incremental improvements enhancing member experience, personalization, and operational leverage.