Chronic care management company Omada Health is aiming for a valuation of approximately $1.1 billion as it prepares for its initial public offering (IPO) on the Nasdaq Global Market under the ticker symbol OMDA.
The company plans to offer 7.9 million shares of common stock, with a 30-day option for underwriters to purchase an additional 1.185 million shares at the IPO price. Omada expects to price the shares between $18 and $20 each.
Growth and Financials
In its filing with the U.S. Securities and Exchange Commission (SEC), Omada revealed that its revenue for 2024 reached $169.8 million, a 38% increase from $122.8 million in 2023. For the first quarter of 2025, the company reported $55 million in revenue. However, Omada also posted net losses of $47.1 million for 2024 and $9.4 million for the first three months of 2025.
Company Background and Services
Founded in 2011 and headquartered in San Francisco, Omada Health began by focusing on prediabetes management. The company has since expanded to offer virtual care for conditions such as diabetes, cardiometabolic health, hypertension, and musculoskeletal disorders. Omada’s platform helps patients track metrics like exercise, diet, and blood glucose levels, and offers personalized coaching to drive behavior changes. Virtual care support is also available for patients.
Recent Digital Health IPOs
Omada’s IPO comes just weeks after another digital health company, Hinge Health, went public on the NYSE under the ticker symbol HNGE. Hinge Health raised $437.3 million through its IPO by selling 9.14 million shares. The company’s stock opened at $39.25 per share, a 23% increase from its IPO price of $32, and closed at $37.56 per share on its first day of trading. The stock is currently priced at $39.50 per share.
Hinge Health, also based in San Francisco, provides virtual care for musculoskeletal (MSK) conditions. It offers services such as access to health coaches, orthopedic surgeons, and physical therapists, as well as technological resources like surgery decision support. Additionally, Hinge offers a pelvic health program for women and an FDA-approved wearable device, Enso, which uses electrical pulses to relieve pain.
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