Omada Health reported its quarterly earnings for the first time since its IPO in June, revealing a revenue of $61 million, surpassing the expected $55.2 million.
Quarterly Performance
The virtual care company saw a 49% increase in revenue during its second quarter, rising from $41.21 million the previous year. Despite this growth, the company posted a net loss of $5.31 million, equating to a loss of 24 cents per share, which is an improvement from last year’s net loss of $10.69 million or $1.40 per share.
CEO’s Perspective
Omada CEO Sean Duffy commented, “It’s a strategically consistent quarter for Omada, happening at an accelerated pace, which is nice. At the highest levels, there’s just a huge spotlight on metabolic care right now.”
