Omada shares open at $23 in Nasdaq debut after health-tech company’s IPO

Omada shares open at  in Nasdaq debut after health-tech company’s IPO


Omada Health CEO Sean Duffy on IPO debut: Today is the right moment for us

Omada Health shares popped more than 30% in their Nasdaq debut on Friday after the virtual chronic care company priced its stock at $19 per share in its IPO.

The stock opened at $23 and quickly hit $25.

The company said in a press release late Thursday that it sold 7.9 million shares in the offering, amounting to about $150 million. The pricing was in the middle of the expected range, and valued the company at just over $1 billion, though that number could be higher on a fully diluted basis.

Omada, founded in 2012, is trading under ticker symbol “OMDA.” The company offers virtual care programs to support patients with chronic conditions like prediabetes, diabetes and hypertension. Sean Duffy, Omada’s CEO, co-founded the company with Andrew DiMichele and Adrian James, who have both moved on to other ventures.

More CNBC health coverage

It’s the second digital health IPO in a matter of weeks following an extended drought for the industry. Digital physical therapy startup Hinge Health debuted on the New York Stock Exchange in May. Hinge is currently trading at $38.20 after selling shares in its IPO at $32.

The tech IPO market has been showing signs of life, with Hinge being one of the latest offerings. On Thursday, shares of crypto company Circle Internet soared 168% in their New York Stock Exchange debut. Fintech company eToro started trading last month, and Chime Financial, which offers online banking services, is set to hit the market next week.

“Today is the right moment for us,” Duffy told CNBC’s “Squawk Box” on Friday. “We like the scale of the model, we like the scale of the business, equally we felt pull from the capital markets.”

Omada’s revenue increased 57% in its first quarter to $55 million from $35.1 million a year earlier, according to its prospectus. For 2024, revenue rose 38% to $169.8 million from $122.8 million the previous year. The company’s net loss narrowed to $9.4 million in the first quarter from $19 million a year ago.

U.S. Venture Partners, Andreessen Horowitz and Fidelity’s FMR LLC are the largest outside shareholders in the company, each owning between 9% and 10% of the stock.

WATCH: Jim Breyer on investing in circle over a decade ago

Jim Breyer on investing in Circle over a decade ago and the company's IPO debut



Source

Tesla Optimus robotics vice president Milan Kovac is leaving the company
Technology

Tesla Optimus robotics vice president Milan Kovac is leaving the company

Tesla displays Optimus next to two of its vehicles at the World Robot Conference in Beijing on Aug. 22, 2024. CNBC | Evelyn Tesla’s vice president of Optimus robotics, Milan Kovac, said on Friday that he’s leaving the company. In a post on X, Kovac thanked Tesla CEO Elon Musk and reminisced about his tenure, […]

Read More
Tesla already had big problems. Then Musk went to battle with Trump
Technology

Tesla already had big problems. Then Musk went to battle with Trump

President Donald Trump holds a news conference with Elon Musk to mark the end of the Tesla CEO’s tenure as a special government employee overseeing the U.S. DOGE Service on Friday May 30, 2025 in the Oval Office of the White House in Washington. Tom Brenner | The Washington Post | Getty Images Tesla has […]

Read More
Winklevoss twins’ crypto firm Gemini confidentially files for IPO
Technology

Winklevoss twins’ crypto firm Gemini confidentially files for IPO

Cameron Winklevoss, co-founder and president of Gemini Trust Co., left, and Tyler Winklevoss, co-founder and chief executive officer of Gemini Trust Co., on stage during the Bitcoin 2025 conference in Las Vegas, Nevada, US, on Tuesday, May 27, 2025. Bridget Bennett | Bloomberg | Getty Images Gemini, the cryptocurrency exchange and custodian founded by Cameron […]

Read More