Omada Health, Inc. · NASDAQ:OMDA
Omada Health — Investor Day (September 2026)
117 slides from Omada Health's investor day presentation, Sep 10, 2026
Slide 1: Investor Day 2026
DATE 9.10.26 LOCATION NYC LISTING NASDAQ : OMDA Investor Day 2026 omadahealth.com
Slide 2: Important Notice and Disclaimers
Important Notice and Disclaimers Disclaimers This presentation contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Certain information and estimates contained in this presentation relate to or are based on Private Securities Litigation Reform Act of 199
Slide 3: Presenters
Presenters Sean Wei-Li Steve Britt Dr. Thomas Danika Jennifer Duffy Shao Cook Buntman Tsang Harrison Becker Founder & CEO President Chief Financial VP, GLP-1 and Chief Medical Chief Product and Chief Care Delivery Officer Cardiometabolic Officer Growth Officer Operations Officer Health Leadership Team in Att
Slide 4: Agenda
Agenda Welcome Sean Duffy Defining the Future of Healthcare Wei-Li Shao Financial Overview Steve Cook Commercial Britt Buntman Product Thomas Tsang, Danika Harrison, Jennifer Becker, Clinical Technology Care Delivery Sean Duffy, Sarah Acosta, Celeste Parker, Customer Panel Moderator Harris County Costc
Slide 5: Welcome
Welcome 5 Sean Duffy Co-Founder & CEO
Slide 6: Traditional care doesn't work for chronic disease
Traditional care doesn’t work for chronic disease. 6
Slide 7: People need longitudinal, between-visit care in order to get well
People need longitudinal, between-visit care in order to get well. 7
Slide 8: A track record of innovation drives our growth
Welcome A track record of innovation drives our growth Q4 2025 Profitability First Adj. EBITDA positive quarter 1 Q2 2025 IPO 2017 Industry recognition Listed OMDA Fast Company's 2021 Quality & rigor + GLP-1 Rx 3M 2 Most Innovative NCQA accreditation 2016 Billing ecosystem integration 18th peer-revie
Slide 9: We built between-visit care from scratch
Chapter One We built between-visit care from scratch Firsts We Achieved Between-Visit Care Platform 1 2 3 Care Services Pioneer a new Peer-reviewed studies NCQA accreditation1 Technology business model (30+) First in our category to Create a model based on Evidence our care works achieve Devices out
Slide 10: Slide 10
Slide 11: Thank you for giving me my life back
“ Thank you. Thank you for caring. Thank you for supporting me. Thank you for giving me my life back.“ — Heather Real Omada Member 11
Slide 12: Defining the Future of Healthcare
Defining the Future of Healthcare 12 Wei-Li Shao President
Slide 13: An epidemic of obesity is driving cardiometabolic disease in the U.S.
An epidemic of obesity is driving cardiometabolic disease in the U.S. 13
Slide 14: ... and it's continuing to grow
Defining the Future of Healthcare … and it’s continuing to grow. 46.9% 50% U.S. adults with obesity 1 40% 30% 20% 19.3% 10% FORECAST 0% 1990 2000 2010 2022 2035 ~74% of insured U.S. adults have conditions we can cover2 - including obesity, type 2 diabetes, hypertension, or high cholesterol. 1. US Sta
Slide 15: 188 million U.S. adults have a condition Omada treats
Defining the Future of Healthcare 188 million U.S. adults have a condition Omada treats 255M 255M insured U.S. adults1 188M 188M insured U.S. adults with conditions Omada serves 2 99M 99M U.S. adults living with 2+ chronic conditions2 1M 1M active Omada members 1. Based on United States Census Bureau
Slide 16: Fixing What's Broken in Healthcare
Defining the Future of Healthcare Fixing What’s Broken in Healthcare 16
Slide 17: Traditional care is point-in-time
Defining the Future of Healthcare | Fixing What's Broken Traditional care is point-in-time Month 0 PCP Weight gain visit silence between visits Rising A1c Month 12 no data, no nudge PCP 15 minutes visit 15 minutes 8,759 hours between visits Health trajectory Lacks data, contact, and support in-betwee
Slide 18: Our care is daily, over time
Defining the Future of Healthcare | Fixing What's Broken Our care is daily, over time Month 12 Weight gain Month 0 Coach notices the weight gain and reaches PCP out. Learns her mom is in the hospital and stress PCP is mounting — together they build a plan to get visit visit back on track, with real e
Slide 19: Omada's innovation flywheel
Defining the Future of Healthcare | Fixing What’s Broken Omada’s innovation flywheel Clinical measurement and data guide our direction Clinical evidence drives commercial strategy Clinical Human Strategy Care Human coaching provides Delivery quality and accountability Members Technology Technology sca
Slide 20: We're at a historic moment in healthcare
We’re at a historic moment in healthcare. 20
Slide 21: Medication
HOO HNO N de Sheseu eeu ye Y A O H O = H O 4 0 O 7 ti n tee, The Medication (yc D> OK»
Slide 22: AI
AI 22
Slide 23: Devices
Devices 23
Slide 24: It takes a system to change outcomes
Defining the Future of Healthcare | Fixing What’s Broken It takes a system to change outcomes Conditions we cover Metabolic Health Cardiovascular Health Musculoskeletal Advanced Care The diagnoses & comorbidities that cluster in one member. Prediabetes Hypertension MSK & mobility GLP-1 therapy Obesit
Slide 25: We're building the future of healthcare
We’re not waiting for the future of healthcare to arrive. We’re building it. 25
Slide 26: Financial Outlook
Financial Outlook 26 Steve Cook Chief Financial Officer
Slide 27: Omada's four levers for growth and durability
Financial Outlook Omada’s four levers for growth and durability The eligible commercial population our Covered Lives channels can reach. How we convert covered lives into enrolled Enrollment members. The billable activities and outcomes achieved Engagement by our members. How efficiently we deliver di
Slide 28: A History of Success
Financial Outlook A History of Success 28
Slide 29: Consistent historical growth gives us confidence in the future
Financial Outlook | A History of Success Consistent historical growth gives us confidence in the future 0.39M → 1.09M 45% Total Members1 Revenue CAGR FY23 → 2Q26 FY23 → 2Q26 TTM3 60% → 70% (43%) → 7% Non-GAAP gross margin2 Adj. EBITDA margin2 FY23 → 2Q26 TTM FY23 → 2Q26 TTM3 1. Billed on a trailing-t
Slide 30: We have over-performed against our IPO promise
Financial Outlook | A History of Success We have over-performed against our IPO promise FY26 Targets at IPO vs. 2Q26 TTM actuals 0.85M → 1.09 M Total members2 $251M → $310M Revenue 66% → 70% (2%) → +7% Non-GAAP gross margin1 Adj. EBITDA margin1 1. See appendix for a reconciliation to the most compar
Slide 31: Long-term Targets
Financial Outlook Long-term Targets 31
Slide 32: New long-term targets
Financial Outlook | Long-term Targets New long-term targets +20% continued expected annual revenue growth while expanding the profitable model we have INITIAL TARGET NEW TARGET 70% +10% 80% Non-GAAP gross margin 20% +10% 30% Adj. EBITDA margin 32
Slide 33: Raising our non-GAAP gross margin target from 70% to 80%
Financial Outlook | Long-term Targets Raising our non-GAAP gross margin1 target from 70% to 80%: Half from revenue, half from cost +10 pts Revenue & Price + 5 pts Cost of Revenue + 5 pts EXPECTED DRIVERS EXPECTED DRIVERS + AI (OmadaSpark + MealMap) + Coach efficiencies through AI + Engagement + Contin
Slide 34: Gross margin expansion + OPEX discipline take AEBITDA target from 20% to 30%
Financial Outlook | Long-term Targets Gross margin expansion + OPEX discipline take AEBITDA target from 20% to 30% +10 pts Gross Margin Expansion OPEX Discipline EXPECTED DRIVERS EXPECTED DRIVERS + Higher-value mix + Disciplined headcount YoY + AI automation + G&A leverage as we scale + Supply chain
Slide 35: The Financial Model
Financial Outlook The Financial Model 35
Slide 36: How to model Omada in one equation
Financial Outlook | The Financial Model How to model Omada in one equation ESTIMATED ENROLLMENT RATE2 ENGAGEMENT 2Q26 TTM REVENUE COVERED LIVES1 (TTM REV / MEMBER) 25M+ × ~4.4% × ~$284 = $310M 2Q26 TTM REVENUE EFFICIENCY 2Q26 TTM NON-GAAP GROSS PROFIT (NON-GAAP GROSS MARGIN) $310M × ~70% = $217M 1.
Slide 37: How we bill and measure engagement
Financial Outlook | The Financial Model How we bill and measure engagement Members generate revenue when they engage in care or achieve clinical outcomes. Members × Engagement = Billings Unique members billed over the The number of engagement Member is billed for devices and last twelve months activ
Slide 38: Our Market Opportunity
Financial Outlook Our Market Opportunity 38
Slide 39: The majority of insured U.S. adults have a condition Omada treats
Financial Outlook | Our Market Opportunity The majority of insured U.S. adults have a condition Omada treats ADDRESSABLE PREVALENCE MULTI-PRODUCT ATTACH CUSTOMER RETENTION 74% 33% 90%+ of insured U.S. adults have of existing contracts on a 3-year average basis7 a condition Omada treats1 are multi-pr
Slide 40: Members have grown 2.8x since FY23
Financial Outlook | Our Market Opportunity Members have grown 2.8x since FY23 1,091K 1 886K 572K 391K FY23 FY24 FY25 2Q26 40 1. Ending members as of June 30, 2026.
Slide 41: Our payer channels aggregate a broadly diversified customer base
Financial Outlook | The Financial Model Our payer channels aggregate a broadly diversified customer base % OF BILLINGS BY PAYER / PARTNER1 % OF BILLINGS BY END CUSTOMER2 Partner A 34% Customer 1 15% Partner B 28% Customer 2 10% Partner C 8% Customer 3 5% Partner D 4% Customer 4 2% Partner E 3% Custom
Slide 42: Multi-product PBM channels expected to compound faster than legacy book
Financial Outlook | Our Market Opportunity Multi-product PBM channels are expected to compound faster than our legacy book Medicare Advantage NOW New Channels New Channels FY26 starting point PBM B PBM A: multi-product launch with moderate competition PBM A PBM B: multi-product + prescribing launch
Slide 43: Translating to Top Line Growth
Financial Outlook Translating to Top Line Growth 43
Slide 44: Revenue has compounded ~45% over the past 2.5 years
Financial Outlook | Translating to Top Line Growth Revenue has compounded ~45% over the past 2.5 years $310M $260M $170M $123M FY23 FY24 FY25 2Q26 TTM 44
Slide 45: Historically, ~75% of yearly revenue has been visible or highly visible
Financial Outlook | Translating to Top Line Growth Historically, ~75% of yearly revenue has been visible or highly visible +53% YoY ~75% highly visible baseline FY24 Existing Existing Customer Fully Insured / New Business / Upsell FY25 Revenue Members New Enrollments Direct Channel Partnerships Enro
Slide 46: Members have become more profitable over time
Financial Outlook | Translating to Top Line Growth Members have become more profitable over time TTM REVENUE PER MEMBER VS. TTM GROSS PROFIT PER MEMBER Revenue per member Gross profit per member $286 $286 $284 $279 $199 $175 $183 70%* $157 61%* 66%* 55%* 2Q23 TTM 2Q24 TTM 2Q25 TTM 2Q26 TTM 46 * Non-GA
Slide 47: Unit economics that pay back in months
Financial Outlook | Translating to Top Line Growth Unit economics that pay back in months LIFETIME REVENUE BY PRODUCT (5-YEAR) 3.8x MEMBER PAYBACK $3.9k Month 3 1.9x $2.0k Members have historically generated 1.0x 1.0x 1.1x contribution profit within one quarter of enrollment - and have generally $1.1
Slide 48: Prevention and Weight Health are our foundation
Financial Outlook | Translating to Top Line Growth Prevention and Weight Health are our foundation. Newer products can build revenue off of it. Newer Products Diabetes · Hypertension · MSK 74% 76% Prevention Our founding program 75% 79% 84% 95% 87% 100% FY19 FY20 FY21 FY22 FY23 FY24 FY25 2Q26 48 % sh
Slide 49: Retention has continued to improve year over year
Financial Outlook | Translating to Top Line Growth Retention has continued to improve year over year MEMBER RETENTION 1 BY PRODUCT TOTAL MEMBER RETENTION 1 BY YEAR Prevention Diabetes ~58% ~56% ~66% ~50% ~54% 2 ~43% Hypertension MSK ~66% NA 2Q23 TTM 2Q24 TTM 2Q25 TTM 2Q26 TTM 1. The percentage of me
Slide 50: Expected growth and durability drivers within our four levers
Financial Outlook | Translating to Top Line Growth Expected growth and durability drivers within our four levers Covered Lives PBM and channel expansion | new employer wins Eligibility conversion | multi-condition eligibility Enrollment expansion | marketing efficiencies Longer member tenure | increas
Slide 51: Commercial Deep Dive
Commercial Deep Dive 51 Britt Buntman VP, GLP-1s Cardiometabolic Health
Slide 52: The Commercial Engine
Commercial Deep Dive The Commercial Engine 52
Slide 53: Market context: rising GLP-1 costs
Commercial Deep Dive | The Commercial Engine Market context Rising GLP-1s Focus on costs proven value 53
Slide 54: Why we win
Commercial Deep Dive | The Commercial Engine Why we win Program Market Buyer breadth reach trust Our multi-condition platform: We sell across multiple channels: Customer and clinical proof: + Prevention & Weight + 3 largest national PBMs + 2,000+ customers1 + Hypertension + 25 health plans + 90%+ 3-
Slide 55: Omada stands out among competitors
Commercial Deep Dive | The Commercial Engine Omada stands out among competitors MONTHLY GLOBAL APP DOWNLOADS SINCE 20231 Omada Hello Heart Virta Twin Lark Vida Livongo 55 1. Total number of monthly global app downloads from January 2023 through July 2026 (inclusive), according to the Healthcare IT:
Slide 56: Our growth flywheel: Repeatable. Scalable.
Commercial Deep Dive | The Commercial Engine Our growth flywheel: New Repeatable. employer sold Scalable. Omada's reach Compounding growth. grows through Members new covered lives enroll and programs Customer Members get satisfaction drives healthier, costs channel trust decrease 56
Slide 57: How we go to market with our partners
Commercial Deep Dive | The Commercial Engine How we go to market with our partners This motion helps us grow self-insured covered lives Enrolled Partner Covered lives Program- members access Employers select Omada eligible lives Multi-channel campaigns through a streamlined sales and PBM and health
Slide 58: Accelerated path to enrolling members
Commercial Deep Dive | The Commercial Engine Accelerated path to enrolling members When partners see results, they can embed Omada into Lines of Business, like Fully Insured. Enrolled Partner Program- members access eligible lives Multi-channel campaigns Opens embedded Population is qualified for con
Slide 59: We've won significant access to key partners
Commercial Deep Dive | The Commercial Engine We’ve won significant access to key partners Omada is partnered with the 3 largest PBMs 1 Employers can also contract through one of our 25+ for access to the commercially insured employer health plans, smaller PBMs, or reseller partners market All others
Slide 60: We've achieved significant growth through our partners
Commercial Deep Dive | The Commercial Engine We’ve achieved significant growth through our partners 25M+ estimated covered lives1 won across 2,000+ customers 25M+ ESTIMATED COVERED LIVES WON GROWTH OVER PAST 2 YEARS EOY 2023 EOY 2025 19M+ Self-insured + PBM 19M+ contracted contracted lives 15M+ +37%
Slide 61: Substantial growth opportunities in current and future markets
Commercial Deep Dive | The Commercial Engine Substantial growth opportunities available in current and future markets Nearly 90% of open opportunity available in current markets: ~184M lives1 MARKETS WE'RE IN TODAY MARKET & MOTION EXPANSION OPPORTUNITIES ~119M1 118M4 additional Additional lives thro
Slide 62: 150M+ white space lives in partners already closed
Commercial Deep Dive | The Commercial Engine 150M+ white space lives in partners already closed Channels grow over time, and our largest partners are in the earliest stages 40M 30M 20M White space 10M Covered lives1 0K Partner A Partner B Partner C Partner D Partner E % Penetration ~33% ~11% ~9% ~1%
Slide 63: Selling more programs to existing customers unlocks more growth
Commercial Deep Dive | The Commercial Engine Selling more programs to existing customers unlocks more growth 1 in 8 U.S. adults are now on a GLP-11 100% Members eligible for episodic MSK care if employer covers it Prevention Hypertension Cholesterol Diabetes Members on a GLP-11 33% 74% of existing c
Slide 64: From eligible members to enrolled members
Commercial Deep Dive | The Commercial Engine From eligible members to enrolled members +30 3.0X 3.0X +33 % Growth = ROI 2 = ROI 2 % Lift 3 1 Onsite & Email Direct Mail Paid Media Customer-Led Core component of Targeted direct mail Search and social campaigns Employer- and health outreach strategy wi
Slide 65: Value and satisfaction drive retention and expansion
Commercial Deep Dive | The Commercial Engine Value and satisfaction drive retention and expansion Top 3 Largest PBMs as partners 90%+ Employer customer retention2 3 of 3 largest PBMs in U.S. Sustained over 3 years in a market where switching and point solutions are rampant 95%+ Fully-Insured lives r
Slide 66: GLP-1s: An On-Ramp into Omada's Programs
Commercial Deep Dive GLP-1s: An On-Ramp into Omada’s Programs 66
Slide 67: GLP-1s have been a tailwind for our business
Commercial Deep Dive | GLP-1s GLP-1s have been a tailwind for our business WHY? 52% GLP-1s and cardiometabolic spend is Year-over-Year1 a top challenge for employers to solve GLP-1 billings growth Opportunity to add new and strengthen existing PBM relationships 14% Front door for all Omada programs
Slide 68: Every employer can be a customer of Omada
Commercial Deep Dive | GLP-1s Every employer can be a customer of Omada — whether they cover GLP-1s or not COVER GLP-1s DO NOT COVER GLP-1s Market Share1 43% 57% Available Omada Products GLP-1 Care Track GLP-1 Care Track with Prescribing with Prescribing + Member Cash Pay + Core Cardiometabolic prog
Slide 69: Outcomes that address customer concerns and drive commercial growth
Commercial Deep Dive | GLP-1s Outcomes that address customer concerns and drive commercial growth New! Lose more Protect muscle Minimal weight Drive savings weight regain ~2x 3x 0.8% $11,142 increase in muscle 5-year simulated savings greater average weight loss preservation at 12 among GLP-1 member
Slide 70: Commercial engine takeaways
Commercial Deep Dive | Why we win Commercial engine takeaways Covered Lives Direct and partner sales motions increase covered lives. We have made significant progress – with even more untapped white space in target markets. Enrollment Program expansion within accounts multiplies eligible members. 74%
Slide 71: Product
Dr. Thomas Tsang Chief Medical Officer Danika Harrison Product Chief Product & Growth Officer Jennifer Becker Chief Care Delivery Operations Officer 71
Slide 72: Omada's innovation flywheel
Defining the Future of Healthcare | Fixing What’s Broken Omada’s innovation flywheel Clinical measurement and data guide our direction Clinical evidence drives commercial strategy Clinical Human Strategy Care Human coaching provides Delivery quality and accountability Members Technology Technology sca
Slide 73: Clinical Strategy
Product Clinical Strategy 73 Dr. Thomas Tsang Chief Medical Officer
Slide 74: More conditions treated on one platform reach more of the population
Product | Clinical Strategy More conditions treated on one platform allow us to reach more of the employer’s population Opportunities for Exploration Fatty liver 2012 | Prevention Sleep apnea 2018 | Diabetes + Hypertension High-risk T2D Obesity 2020 | Musculoskeletal Diabetes Rx The root driver 2023
Slide 75: Clinical excellence drives employer trust and confidence
Product | Clinical Strategy Clinical excellence drives employer trust and confidence High-quality evidence Peer-reviewed studies Accreditations and certifications Two randomized Omada controlled trials, the gold Competitor A 32 5 standard of proof, plus a National clinical-quality 27 accreditations1 m
Slide 76: Clinical outcomes drive covered lives, enrollment, and engagement
Product | Clinical Strategy Clinical outcomes drive Blood Pressure covered lives, enrollment, -10.3 mmHg systolic, 12 mo5 -7.5 mmHg diastolic, 12 mo5 and engagement Est. cost savings at 3 yrs | $3,337 2 Heather Prevention & Weight Health Real Omada Member 5.5% avg weight loss, 12 mo, Diabetes with b
Slide 77: Key takeaway
Product | Clinical Strategy Key takeaway Covered Lives We lead with Clinical Strategy… Enrollment …Which drives higher engagement and better outcomes Engagement … and results in more Efficiency savings for our customers 77
Slide 78: Technology
Product Technology 78 Danika Harrison Chief Product and Growth Officer
Slide 79: Technology supports member engagement
Product | Technology Technology supports member engagement 5. Lifelong Health 4. Gain 3. Mastery 1. 2. Gain Discovery & Onboarding Get Started Momentum >55% of members engaged with Omada 12 months into our program1 79 1 As of December 2025, more than 55% of members in month 12 and more than 50% of m
Slide 80: Onboarding experiences start with the person, not the plan
Product | Technology Onboarding experiences start with the person, not the plan 80
Slide 81: Onboarding innovation
Product | Technology Onboarding innovation Hi Jackie, your application has been accepted. +3% application submission rate1 +42% conversion from application acceptance to member login2 1. Relative lift from pilot of program application redesign, compared to control group. Omada internal analysis, Aug
Slide 82: However a member wants to engage, we're there
Product | Technology However a member wants Set goal Track meals Complete to engage, lesson we're there. Message coach Omada Member Community activity Experience Care Team / Community / Medical Care Prescribing Self-monitoring Guidance / Structure Track weight with connected Track scale exercise 82
Slide 83: Personalized tools drive engagement
Product | Technology Personalized tools drive engagement 83
Slide 84: Core experience innovation
Product | Technology Core experience innovation +11% in week 4 retention1 +18% in week 12 retention2 1. Relative lift from pilot testing new notification features, compared to control group. Omada internal analysis, January-July 2026. Expanded results may differ from pilot data.
Slide 85: Hundreds of engagement pathways
Product | Technology Hundreds of engagement pathways 85
Slide 86: Nutrition is at the core of health
Product | Technology Nutrition is at the core of health 86
Slide 87: Nutrition innovation
Product | Technology Nutrition innovation +15% more likely to track meals in week 41 1. Relative lift from pilot testing certain nutrition features, compared to control group. Omada internal analysis, Jul-Aug 2026. 87 Expanded results may differ from pilot data.
Slide 88: Medical care embedded in the journey
Product | Technology Medical care embedded in the journey Virtual cardiometabolic visits complete the care loop by adding prescribing, empathetic clinical support, referrals to labs and diagnostics, and escalation paths for higher-acuity needs. + Medical care becomes an integrated part of the daily
Slide 89: Member
Product | Technology Member + Logs into Omada for the first time + Chooses to meet with a provider 89
Slide 90: Member launches a provider visit from the My Health page
Product | Technology Member launches a provider visit from the My Health page 90
Slide 91: Member meets with a provider
Product | Technology Member meets with a provider 91
Slide 92: Member…
Product | Technology Member… + Views Health page + Sees Visit Summary + Selects pharmacy and fills prescription 92
Slide 93: Member views messages from their provider with the lab order
Product | Technology Member views messages from their provider with the lab order & schedules a Quest appointment 93
Slide 94: Connected data foundation
Product | Technology Connected data foundation Critical to deliver clinical strategy and care to each member to drive higher engagement and outcomes Clinical Engagement Care Team Personalized Data Data Data Interventions Health readings: What they do in the app: Coach conversations Clinical, engagem
Slide 95: A corpus of data that no one else has
Product | Technology A corpus of data that no one else has 163 M Meals tracked 1 Gives us deep insights on how + Data at a scale that can't food choices affect health, so our guidance gets more personal. be bought or replicated + One connected record + per member AI in members' hands 2M+ Members all-
Slide 96: More engineering capacity without more headcount
Product | Technology More engineering capacity without more headcount Efficient 100% +15% scaling of our software engineers are merge-request output we’re taking on more growth and using AI coding tools and agents per engineer vs. 2024 innovation while scaling OPEX efficiently 96
Slide 97: Driving engagement, outcomes and efficiency
Product | Technology Driving engagement, outcomes and efficiency Co-intelligent coaching • Pattern recognition Devices • Predictive support What's ahead Exercise • Connected scales • CGM, BP cuffs Nutrition • Guided movement Over the next 18-24 months , we • MSK programs AI • MealMap will continue addi
Slide 98: Play Video
Play Video 98
Slide 99: Key takeaway
Product | Technology Key takeaway Covered Lives Personalized care that reflects our Enrollment members’ unique life experience Engagement drives higher engagement. Efficiency 99
Slide 100: Human Care Delivery
Product Human Care Delivery 100 Jennifer Becker, Chief Care Delivery Operations Officer
Slide 101: Introducing our human-led, AI-enabled Care Delivery system
Product | Human Care Delivery Introducing our human-led, AI-enabled Care Delivery system Who the Care What Omada’s Why human How we deliver Team is devices enable relationships efficient care matter 101
Slide 102: Omada's Human Care Team
Product | Human Care Delivery Omada’s Clinical Specialist Human Care Team Physical Activity Specialist Licensed Physical Therapist Prescribers Member Services Behavioral Health Support Jessica Health Coach 102
Slide 103: Devices are the foundation of engagement & insights
Product | Human Care Delivery Devices are the foundation of engagement & insights Hundreds of millions of data points Cellular by default, so clinically strong data lands in every program with no set up required. Scale Blood pressure monitor Blood glucose monitor Continuous glucose monitor MSK kit 1
Slide 104: Building relationships is associated with 1.7x greater weight loss
Product | Human Care Delivery Building relationships is associated with 1.7x greater weight loss1 The self-directed Who we actually treat Highly motivated. Wired up. Tracks everything. Likely to succeed with a device or AI alone. Our Care Team and our devices are how we reach everyone else. 1. From
Slide 105: Effective AI amplifies the humanity of our care team
Product | Human Care Delivery Effective AI amplifies the humanity of our care team WE'RE FOR AI — IN THE RIGHT PLACES There is something invaluable about knowing a real human is expressing real care. AI AND TECHNOLOGY THE CARE TEAM Summarizes context. Answers the factual questions. Handles the moments
Slide 106: Evolution of the Care Team
Product | Human Care Delivery Evolution of the Care Team Designed to drive higher engagement. Better outcomes for members. Lower cost to deliver it. Data-Driven Signals AI-Synthesized Context PRE-GEN AI POST-GEN AI 106
Slide 107: The path to 80% non-GAAP gross margin
Product | Human Care Delivery The path to 80% non-GAAP gross margin We're on our way. We have driven costs down quarter over quarter. $146 $106 $130 CONTINUOUS IMPROVEMENT & $86 $111 INNOVATION LEVERS $96 $71 $85 Standard work $56 $45 Workload balancing Workflow automation $39 $44 $40 $40 $40 Innovat
Slide 108: Same team. Supercharged.
Product | Human Care Delivery Same team. Supercharged. Designed to drive higher engagement and better outcomes, with lower cost to deliver it. … and beyond Workflow Automation & AI Augmentation Data-Driven Signals AI Synthesized Context PRE-GEN AI POST-GEN AI 2026 Next generation care teams are expec
Slide 109: Member testimonial
“ Over the past year, the helpful resources, daily tracking, and guidance from Ashley, my diabetes specialist, and Saharra, my health coach, helped me achieve all three of my major milestones. Thanks to them, I reached my target weight, put my diabetes in full control, and completely reversed my hyp
Slide 110: Care Delivery Key Takeaways
Product | Human Care Delivery Care Delivery Key Takeaways Covered Lives Human-led, AI-enabled care drives better member outcomes and engagement. Enrollment We have a proven track record of improving efficiency and are Engagement well on the way to achieve 80% Gross Margin. Efficiency 110
Slide 111: Break
Break 111
Slide 112: Virtual Customer Panel
Virtual Customer Panel 112
Slide 113: Customer Panel
Customer Panel Moderator Panelists Sean Celeste Sarah Duffy Parker Acosta Founder & CEO Costco Harris County Director, Employee Director, Benefits Benefits & Wellness 113
Slide 114: Break
Break 114
Slide 115: Q&A
Q&A 115
Slide 116: Thank You
DATE 9.10.26 LOCATION NYC Thank LISTING NASDAQ | OMDA You 116
Slide 117: Appendix: GAAP to Non-GAAP Reconciliation
Appendix: GAAP to Non-GAAP Reconciliation (in thousands, except percentages) 1Q22 2Q22 3Q22 4Q22 2022 1Q23 2Q23 3Q23 4Q23 2023 1Q24 2Q24 3Q24 4Q24 2024 1Q25 2Q25 3Q25 4Q25 2025 1Q26 2Q26 Revenue $20,208 $21,775 $21,930 $25,272 $89,185 $26,417 $30,892 $32,928 $32,547 $122,784 $35,095 $41,212 $45,515