Power care administration firm Omada Well being on Friday filed an S-1 with the U.S. Securities and Change 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 could be provided or the worth vary for the proposed providing. It intends to record underneath the ticker image OMDA.
Omada, based in 2011, acquired its begin in prediabetes administration. Nonetheless, the corporate’s providers expanded to incorporate administration for diabetes, cardiometabolic well being, hypertension and musculoskeletal circumstances.
The San Francisco-based firm provides a digital care program centered on serving to people handle their very own well being circumstances by means of personalised data-driven habits change teaching. The platform goals to assist customers monitor their food plan, train, blood glucose and different metrics. Sufferers also can entry digital take care of help.
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 internet losses of $47.1 million for 2024 and $9.4 million for the primary three months of 2025.
“Now we have a historical past of internet losses, due partially to the numerous investments we’ve made within the design and improvement of our applications and platform enhancements, and haven’t but achieved profitability on an annual foundation,” the corporate mentioned within the submitting.
Omada additionally reported an accrued 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 prospects 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 Collection E funding, bringing its complete increase to greater than $256 million.
That very same yr, the corporate introduced it might embrace behavioral well being help in its applications.
The combination included nervousness and melancholy evaluation, assets to handle social determinants of well being, stress administration and sleep instruments, and triage and steerage in critical 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 looking for IPO standing is Hinge Well being. In March, the digital musculoskeletal care platform filed for an IPO to go public underneath 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 assets, equivalent to surgical procedure determination help.
Hinge additionally provides a pelvic ladies’s well being program and its FDA-cleared wearable Enso, which offers electrical pulses to alleviate on a regular basis ache.
