Omada Health went public with its initial public offering (IPO), pricing 7.9 million shares at $19 each. The offering is expected to raise $150.1 million, with the potential to increase to $172.6 million if underwriters exercise their option for additional shares.
Omada began trading under the ticker “OMDA” on the Nasdaq Global Select Market on June 6.
Current Share Price:
What Is Omada Health? IPO And Market Positioning
Founded in 2011, Omada developed a “between-visit” care model to deliver continuous, virtual support for individuals managing chronic conditions like diabetes, hypertension, prediabetes and musculoskeletal (MSK) issues. This model is designed to fill care gaps between appointments, where patients often receive little support despite needing regular guidance and monitoring.
As of March 2025, the company reported more than 2,000 clients, including employers, health systems and pharmacy benefit managers. It supports its approach with 29 peer-reviewed studies and accreditations from organizations such as the CDC and the National Committee for Quality Assurance (NCQA).
A recent focus has been on GLP-1 medications for weight loss and diabetes management. While clinical trials show strong efficacy, real-world adherence varies — nearly one-third of users stop within a month, and fewer than half continue past 12 weeks. To address this, Omada launched a companion program providing support for GLP-1 users.
In a 2025 internal analysis of 1,124 members without diabetes, 94% remained on therapy through 12 weeks and 84% through 24 weeks — rates higher than those observed in prior real-world studies. Those who completed 24 weeks lost an average of 12.1% of body weight, compared to 7.4% among those who stopped earlier.
Chronic diseases account for 90% of US healthcare spend, and in 2024 alone, diabetes accounted for $1 of every $7 spent on healthcare.
Omada’s approach blends behavior tracking, remote monitoring and coaching to support lasting lifestyle changes. In its cardiometabolic programs, members averaged over 30 engagements per month in their first year. By the end of 2024, around 31% of clients had adopted more than one Omada program.
Virtual Care Through Data, AI and Behavior Change
Omada refers to its model as “Compassionate Intelligence,” combining coaching with data-driven personalization.
Care Teams — including health coaches and licensed specialists — remain connected with members, while the platform uses real-time data to tailor support across conditions like diabetes, hypertension and MSK pain.
In May 2025, Omada launched Nutritional Intelligence, a toolset designed to support healthier eating habits. At its core is OmadaSpark, an AI agent trained with clinical input to guide members on nutrition, emotional eating and goal-setting between coach interactions. Responses are tailored to each member’s health profile, including those who use GLP-1s.
Revenue grew 38% in 2024 to $169.8 million, and by 57% year-over-year in Q1 2025 to $55 million. The company reported a net loss of $9.4 million for Q1 2025. IPO proceeds are expected to support platform growth, R&D and AI development.
As of December 2024, Omada estimated that around 20 million individuals had coverage for at least one of its programs, based on internal models disclosed in its SEC filing. The company has served just over one million members to date.
Digital GLP-1 and MSK Care: A Growing Ecosystem
The digital companion space is a competitive one. Platforms like Noom and Nourish now offer dietitian-led or AI-driven tools to help users manage medication side effects, maintain adherence and preserve lean mass.
Nourish reported that GLP-1 users working with a dietitian lost 33% more weight and had better adherence. Noom’s companion includes medication tracking, side-effect tools and AI-driven calorie planning.
In MSK care, Hinge Health recently reported that members using its digital MSK platform showed lower rates of joint surgeries compared to those receiving traditional care. Shifting toward digital-first models, the global digital MSK care market is projected to reach $26.54 billion by 2035.
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