The company has successfully eliminated all debt, moving from a $30.1 million debt position in 2025Q1 to a debt-free status with $211.8 million in cash by 2026Q1.
| Total Current Assets | 269.43M | 272.93M | 113.06M | 142.88M | 188.56M |
| Cash & Short-Term Investments | 211.76M | 222.04M | 76.39M | 115.64M | 168.12M |
| Cash Only | 211.76M | 222.04M | 76.39M | 115.64M | 168.12M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 39.98M | 34.59M | 23.92M | 16.44M | 11.67M |
| Days Sales Outstanding | 48.09 | 48.51 | 51.42 | 48.87 | 47.75 |
| Inventory | 3.83M | 4.49M | 3.3M | 3.61M | 3.54M |
| Days Inventory Outstanding | 14.24 | 18.34 | 17.98 | 24.98 | 27.85 |
| Other Current Assets | 13.85M | 11.83M | 5.16M | 3.91M | 2.26M |
| Total Non-Current Assets | 33.37M | 32.47M | 37.83M | 32.2M | 33.24M |
| Property, Plant & Equipment | 8.46M | 7.94M | 6.07M | 5.6M | 6.06M |
| Fixed Asset Turnover | 37.17x | 32.76x | 27.96x | 21.93x | 14.71x |
| Goodwill | 13.24M | 13.24M | 13.24M | 13.24M | 13.24M |
| Intangible Assets | 1.98M | 2.41M | 4.26M | 6.27M | 8.31M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 9.7M | 8.88M | 14.26M | 7.09M | 5.63M |
| Total Assets | 302.8M | 305.41M | 150.89M | 175.08M | 221.8M |
| Asset Turnover | 0.95x | 0.85x | 1.13x | 0.70x | 0.40x |
| Asset Growth % | 114.47% | 102.4% | -13.82% | -21.06% | - |
| Total Current Liabilities | 68.68M | 75.73M | 53.95M | 43.79M | 34.51M |
| Accounts Payable | 8.1M | 10.28M | 4.17M | 3.62M | 4.11M |
| Days Payables Outstanding | 29.68 | 42.02 | 22.73 | 25.03 | 32.31 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 79.94M | 25.06M | 19.53M | 14.88M | 13.44M |
| Other Current Liabilities | 31.23M | 40.39M | 21.12M | 15.49M | 9.99M |
| Current Ratio | 3.92x | 3.60x | 2.10x | 3.26x | 5.46x |
| Quick Ratio | 3.87x | 3.54x | 2.03x | 3.18x | 5.36x |
| Cash Conversion Cycle | 32.65 | 24.84 | 46.66 | 48.82 | 43.29 |
| Total Non-Current Liabilities | 0 | 0 | 32.31M | 32.37M | 31.68M |
| Long-Term Debt | 0 | 0 | 29.77M | 29.38M | 28.89M |
| Capital Lease Obligations | 0 | 0 | 0 | 411K | 1.27M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 2.54M | 2.58M | 1.52M |
| Total Liabilities | 68.68M | 75.73M | 86.26M | 76.16M | 66.19M |
| Total Debt | 0 | 0 | 30.19M | 30.58M | 30.81M |
| Net Debt | -211.76M | -222.04M | -46.21M | -85.06M | -137.31M |
| Debt / Equity | 0.00x | - | 0.47x | 0.31x | 0.20x |
| Debt / EBITDA | -0.00x | - | - | - | - |
| Net Debt / EBITDA | 78.69x | - | - | - | - |
| Interest Coverage | -4.74x | -4.04x | -9.46x | -13.35x | -16.26x |
| Total Equity | 234.12M | 229.68M | 64.63M | 98.92M | 155.6M |
| Equity Growth % | 296.91% | 255.37% | -34.66% | -36.43% | - |
| Book Value per Share | 3.97 | 3.93 | 1.16 | 1.77 | 2.79 |
| Total Shareholders' Equity | 234.12M | 229.68M | 64.63M | 98.92M | 155.6M |
| Common Stock | 59K | 58K | 8K | 7K | 21K |
| Retained Earnings | -459.71M | -456.74M | -443.97M | -396.83M | -329.32M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Working capital volatility
As reported in recent financial statements, Omada Health has successfully transitioned from a leveraged position in 2025Q2 to a debt-free balance sheet by 2026Q1, with total assets expanding to $302.8 million, signaling a significant improvement in the company's underlying financial stability and long-term solvency profile.
The elimination of $30 million in debt suggests a strategic shift toward self-funded growth, reducing interest-related drag on the bottom line. This trajectory appears to reflect a disciplined approach to capital management as the company scales its multi-condition platform.
Based on the 2026Q1 balance sheet, Omada maintains a strong liquidity position with $211.8 million in cash and a current ratio of 3.92, providing a substantial buffer against the operational volatility inherent in its performance-based revenue model and high-touch clinical service delivery requirements.
The current ratio indicates that the company is well-positioned to meet its short-term obligations without needing external financing. Investors should monitor whether this liquidity remains stable as the company continues to invest in its coaching infrastructure and software development.
According to the provided data, Omada's asset base remains lean with only $8.5 million in net PPE as of 2026Q1, confirming an asset-light business model that prioritizes human capital and proprietary software over physical infrastructure to drive its digital health interventions.
The minimal investment in physical assets suggests that the company's value is primarily derived from its intellectual property and clinical data sets. This structure allows for scalability, though it necessitates ongoing investment in software to maintain a competitive edge against hardware-centric peers.
As indicated by the 2026Q1 filings, the company's equity position of $234.1 million is heavily offset by an accumulated deficit of $459.7 million, reflecting the significant historical investment required to build out the platform's clinical capabilities and market presence in the employer-sponsored insurance sector.
The persistent negative retained earnings highlight the ongoing challenge of achieving profitability while maintaining high growth rates. Investors should evaluate whether the current revenue expansion will eventually lead to a reversal of this deficit through improved operating leverage.
Based on the 2026Q1 balance sheet, the $29.4 million in deferred revenue represents a critical indicator of future performance, yet its volatility—having dropped to zero in 2025Q3—suggests potential inconsistencies in contract timing or revenue recognition practices that warrant further investigation by analysts.
The fluctuation in deferred revenue may imply that the company's revenue recognition is sensitive to the timing of contract renewals and performance-based milestones. This volatility could lead to lumpy financial results, making it difficult to forecast short-term cash flows with high precision.
Quick answers to the most common questions about buying OMDA stock.
As of 2025, Omada Health (OMDA) had total assets of $305.4M including $272.9M in current assets.
Omada Health (OMDA) carries total debt of $0.0M, offset by $222.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Omada Health (OMDA) has total shareholders' equity (book value) of $229.7M ($3.93 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Omada Health (OMDA) reported a current ratio of 3.60x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.