Omada Health Raises $150M in Nasdaq IPO Debut

Omada Health, a virtual healthcare provider specializing in chronic disease management, debuted on the Nasdaq, raising $150 million at a $19 per share IPO price and attaining a valuation just over $1 billion. Shares opened at $23 and reached $27, reflecting strong investor interest and making Omada the second major digital health IPO of 2025 after Hinge Health. The company reported 2024 revenue of $169.8 million, up 38% year-over-year, and reduced its Q1 net loss to $9.4 million, though it remains unprofitable. Omada's growth is fueled by heightened focus on weight-related health, diabetes, and hypertension, but it does not prescribe GLP-1 drugs, instead offering clinical guidance. Major investors include U.S. Venture Partners, Andreessen Horowitz, and Fidelity's FMR LLC. The IPO reflects renewed optimism in the tech and digital health sectors following a slowdown in public offerings.