Omada Health Seeks Nasdaq IPO Amid Revenue Growth

Omada Health, a virtual chronic care provider, has filed for an initial public offering (IPO) in the United States and plans to list on the Nasdaq under the symbol 'OMDA.' The company has not disclosed the number of shares or price range for the offering, and its major underwriters include J.P. Morgan, Goldman Sachs, Morgan Stanley, and Barclays. Omada has demonstrated strong growth, with revenue rising 38% from $123 million in 2023 to nearly $170 million in 2024, and first quarter 2025 revenue up 57% year-over-year to $55 million. Net losses have narrowed from $67.5 million in 2023 to $47 million in 2024, and from $19 million in Q1 2024 to $9.4 million in Q1 2025. The company now supports over 679,000 members, works with more than 2,000 customers, and has expanded its digital health offerings from diabetes prevention to include prediabetes, hypertension, and musculoskeletal conditions. Omada's IPO filing comes amid renewed interest in digital health company listings, with peers like Hinge Health also seeking to go public.