Persistent care control corporate Omada Well being on Friday filed an S-1 with the U.S. Securities and Trade Fee (SEC) to move public, making it the second one virtual well being corporate to hunt an IPO this 12 months.
The corporate didn’t specify what number of stocks could be presented or the fee vary for the proposed providing. It intends to listing beneath the ticker image OMDA.
Omada, based in 2011, were given its get started in prediabetes control. Alternatively, the corporate’s services and products expanded to incorporate control for diabetes, cardiometabolic well being, high blood pressure and musculoskeletal stipulations.
The San Francisco-based corporate gives a digital care program thinking about serving to folks set up their very own well being stipulations via personalised data-driven habits trade training. The platform targets to assist customers observe their nutrition, workout, blood glucose and different metrics. Sufferers too can get right of entry to digital maintain make stronger.
Within the submitting, Omada reported full-year earnings for 2024 of $169.8 million, up 38% from $122.8 million in 2023. Earnings for the primary 3 months of 2025, as of March 31, was once $55 million.
Nonetheless, the corporate reported internet losses of $47.1 million for 2024 and $9.4 million for the primary 3 months of 2025.
“Now we have a historical past of internet losses, due partially to the numerous investments we’ve got made within the design and construction of our techniques and platform improvements, and feature now not but completed profitability on an annual foundation,” the corporate mentioned within the submitting.
Omada additionally reported an amassed deficit of $444 million for 2024 and $453.4 million for the primary 3 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 release of its Well being Situation Techniques, which enable consumers to faucet into virtual well being advantages presented via their employer or insurance coverage service, with Omada Well being as the corporate’s release spouse.
In 2022, Omada scored $192 million in Sequence E investment, bringing its general carry to greater than $256 million.
That very same 12 months, the corporate introduced it will come with behavioral well being make stronger in its techniques.
The mixing incorporated nervousness and melancholy overview, sources to control social determinants of well being, rigidity control and sleep gear, and triage and steering in critical psychological well being crises.
In 2020, Omada bought virtual bodily treatment corporate Physera so as to add musculoskeletal care to its choices.
Every other virtual well being corporate in search of IPO standing is Hinge Well being. In March, the virtual musculoskeletal care platform filed for an IPO to move public beneath the logo HNGE.
Hinge, a San Francisco-based corporate, was once based in 2015. It supplies digital maintain folks with musculoskeletal stipulations, together with get right of entry to to well being coaches, orthopedic surgeons, bodily therapists and technological sources, reminiscent of surgical treatment determination make stronger.
Hinge additionally gives a pelvic ladies’s well being program and its FDA-cleared wearable Enso, which supplies electric pulses to alleviate on a regular basis ache.
