Power care administration firm Omada Health on Friday filed an S-1 with the U.S. Securities and Trade Fee (SEC) to go public, making it the second digital well being firm to hunt an IPO this yr.
The corporate didn’t specify what number of shares can be provided or the worth vary for the proposed providing. It intends to listing below the ticker image OMDA.
Omada, based in 2011, got its start in prediabetes management. Nevertheless, the corporate’s companies expanded to incorporate administration for diabetes, cardiometabolic well being, hypertension and musculoskeletal situations.
The San Francisco-based firm presents a digital care program centered on serving to people handle their very own well being situations by means of customized data-driven conduct change teaching. The platform goals to assist customers monitor their eating regimen, train, blood glucose and different metrics. Sufferers may entry digital take care of assist.
Within the submitting, Omada reported full-year income for 2024 of $169.8 million, up 38% from $122.8 million in 2023. Income for the primary three months of 2025, as of March 31, was $55 million.
Nonetheless, the corporate reported web losses of $47.1 million for 2024 and $9.4 million for the primary three months of 2025.
“We’ve a historical past of web losses, due partially to the numerous investments now we have made within the design and improvement of our packages and platform enhancements, and haven’t but achieved profitability on an annual foundation,” the corporate stated within the submitting.
Omada additionally reported an gathered deficit of $444 million for 2024 and $453.4 million for the primary three months of 2025. Money and money equivalents have been reported as $76,392 for 2024 and $59,397 for 2025 as much as March 31.
THE LARGER TREND
In 2024, Amazon introduced the launch of its Well being Situation Applications, which permit clients to faucet into digital well being advantages provided by means of their employer or insurance coverage provider, with Omada Well being as the corporate’s launch associate.
In 2022, Omada scored $192 million in Series E funding, bringing its whole increase to greater than $256 million.
That very same yr, the corporate introduced it will embody behavioral health support in its packages.
The mixing included nervousness and despair evaluation, sources to handle social determinants of well being, stress administration and sleep instruments, and triage and steering in severe psychological well being crises.
In 2020, Omada bought digital bodily remedy firm Physera so as to add musculoskeletal care to its choices.
One other digital well being firm searching for IPO standing is Hinge Health. In March, the digital musculoskeletal care platform filed for an IPO to go public below the image HNGE.
Hinge, a San Francisco-based firm, was based in 2015. It supplies digital care for people with musculoskeletal situations, together with entry to well being coaches, orthopedic surgeons, bodily therapists and technological sources, comparable to surgical procedure choice assist.
Hinge additionally presents a pelvic women’s health program and its FDA-cleared wearable Enso, which supplies electrical pulses to alleviate on a regular basis ache.
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