Continual care administration firm Omada Well being filed an S-1 with the Securities and Trade Fee (SEC) to go public on Friday, making it the second digital well being firm to hunt an IPO this 12 months.
The corporate didn’t specify what number of shares could be supplied or the value vary for the proposed providing. It intends to record beneath the ticker image OMDA.
Omada, based in 2011, obtained its begin in prediabetes administration. Nevertheless, the corporate’s providers expanded to incorporate administration for diabetes, cardiometabolic well being, hypertension and musculoskeletal circumstances.
The San Francisco-based firm presents a digital care program targeted on serving to people handle their very own well being circumstances by customized data-driven conduct change teaching. The platform goals to assist customers observe their weight loss plan, train, blood glucose and different metrics. Sufferers may entry digital take care of assist.
Within the submitting, the corporate 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, 2025, 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 growth of our applications and platform enhancements, and haven’t but achieved profitability on an annual foundation,” the corporate mentioned within the submitting.
The corporate additionally reported an amassed deficit of $444 million for 2024 and $453.4 million for the primary three months of 2025. Money and money equivalents had 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 Packages, which permit clients to faucet into digital well being advantages supplied by their employer or insurance coverage service, with Omada Well being as the corporate’s launch companion.
In 2022, Omada scored $192 million in Sequence E funding, bringing its whole elevate to greater than $256 million.
That very same 12 months, the corporate introduced it might embrace behavioral well being assist in its applications.
The combination included anxiousness and melancholy 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 Well being. In March, the digital musculoskeletal care platform filed for an IPO to go public beneath the image HNGE.
Hinge, a San Francisco-based firm, was based in 2015. It offers digital care for people with musculoskeletal circumstances, 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 girls’s well being program and its FDA-cleared wearable Enso, which offers electrical pulses to alleviate on a regular basis ache.
