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Omada Health Opens at $23 on Nasdaq Debut, Valued at $1.1 Billion

Investor demand drove shares 21 percent above the $19 IPO price at launch

Omada IPO
A view shows the New York Stock Exchange (NYSE) Wall Street entrance in New York City, U.S., April 7, 2025. REUTERS/Kylie Cooper/File Photo

Overview

  • The company sold 7.9 million shares at $19 each with underwriters granted an option to purchase up to 1.185 million additional shares
  • Shares opened at $23 on June 6, a 21% jump from the IPO price, and reached an intraday high of $28
  • The debut made Omada the second major digital health firm to go public in 2025 following Hinge Health
  • First-quarter revenue rose 57% year over year to $55 million while net loss narrowed to $9.4 million
  • Founded in 2012, Omada provides virtual care for chronic conditions and partners with employers and pharmacy benefit managers such as CVS and Cigna