Omada IPO: Stock Opens at $23 on Nasdaq
- Shares of Omada Health, a virtual chronic care company, experienced a surge of over 40% during their Nasdaq debut Friday.
- Omada health, trading under the ticker symbol "OMDA," sold 7.9 million shares, raising approximately $150 million, the company said.
- Founded in 2012, Omada Health provides virtual care programs for individuals managing chronic conditions such as prediabetes, diabetes, and hypertension.
Omada Health’s stock experienced a remarkable surge, jumping over 40% in its Nasdaq debut after the initial public offering. The company’s shares, trading under the ticker “OMDA,” opened at $23, a meaningful leap from the $19 IPO price. this digital health IPO signals a potential recovery in the market, with Omada raising approximately $150 million by selling 7.9 million shares. Omada, a leader in virtual care programs for chronic conditions, saw its valuation exceed $1 billion.Read more about this IPO as the company plans to use the capital raised to further expand its virtual care programs. For more on this developing story, News Directory 3 has you covered. Discover what’s next for Omada.
Omada Health Stock Soars in Nasdaq Debut After IPO
Updated June 6, 2025
Shares of Omada Health, a virtual chronic care company, experienced a surge of over 40% during their Nasdaq debut Friday. This followed an initial public offering where the stock was priced at $19 per share.
The stock opened at $23 and quickly traded above $27. Omada health, trading under the ticker symbol “OMDA,” sold 7.9 million shares, raising approximately $150 million, the company said. The IPO pricing valued Omada at just over $1 billion.
Founded in 2012, Omada Health provides virtual care programs for individuals managing chronic conditions such as prediabetes, diabetes, and hypertension. Sean Duffy, CEO of Omada, co-founded the company with Andrew DiMichele and Adrian James.
This IPO marks the second digital health initial public offering in recent weeks. Hinge Health, a digital physical therapy startup, debuted on the New York Stock Exchange in May and is currently trading at $38.50 after an IPO price of $32.
The tech IPO market appears to be reviving. Circle Internet, a crypto company, saw its shares jump 168% in its NYSE debut Thursday.Fintech company eToro began trading last month, and Chime Financial is expected to enter the market next week.
Duffy said that now “is the right moment for us,” citing the company’s business scale and capital market interest.
Omada’s revenue for the first quarter increased 57% to $55 million, compared to $35.1 million the previous year. In 2024, revenue rose 38% to $169.8 million from $122.8 million.The company’s net loss decreased to $9.4 million in the first quarter, down from $19 million a year prior.
U.S. Venture Partners, Andreessen Horowitz, and Fidelity’s FMR LLC are among Omada’s largest outside shareholders, each holding between 9% and 10% of the company’s stock.
What’s next
Omada Health plans to use the capital raised to further expand its virtual care programs and address the growing need for accessible chronic disease management solutions.