Omada Health, Inc.OMDA

Omada Health, Inc. Segments Disclosure

10-KFiled Mar 6, 20262 min read
Segment Reporting
The Company has one operating and reportable segment, which includes all virtual care program product offerings. The CODM manages the allocation of resources and assesses performance at the operating segment level.
The CODM reviews information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. The CODM assesses performance and decides how to allocate resources based on components reported on the consolidated statement of operations including consolidated net loss. The CODM uses net loss to evaluate the return on assets and to determine investment opportunities related to development of new virtual care service offerings, new technologies, and platform enhancements. The CODM also uses net loss to monitor budget versus actual results.
The Company’s segment net loss and significant expenses for the years ended December 31, 2025, 2024, and 2023 consisted of the following (in thousands):
Year Ended December 31,
202520242023
Revenue$260,210 $169,800 $122,784 
Cost of revenue (1)
89,271 66,923 52,813 
Employee compensation (2)
129,036 111,221 105,646 
Other segment items (3)
54,681 38,793 31,836 
Consolidated net loss $(12,778)$(47,137)$(67,511)
(1)Depreciation and amortization included in cost of revenue was $5.0 million, $4.2 million and $3.8 million for the years ended December 31, 2025, 2024 and 2023, respectively.
(2)Employee compensation is part of research and development, sales and marketing and general and administrative expenses and includes salaries, share-based compensation expense, sales commissions, employee bonuses, benefits, and other employee-related expenses.
(3)Other segment items include third-party consulting services and professional services, software and infrastructure, hosting, marketing and advertising, and other income and other expenses.
All of the Company’s long-lived assets were located in the U.S., and all revenue was earned in the U.S. as of and for the years ended December 31, 2025, 2024 and 2023 .

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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