Omada Fitness goals to travel society with marketplace cap of as much as $1.1 billion

Omada Fitness plans to boost as much as $158 million in its up coming IPO, achieving a marketplace cap of about $1.1 billion on the manage finish of its anticipated space, in keeping with a submitting on Thursday.

The digital continual aid corporate filed its prospectus previous this week, and has simply up to date the submitting with an anticipated pricing space of $18 to $20 in step with percentage. Omada mentioned it plans to promote 7.9 million stocks within the providing.

The scale of the providing and percentage worth may trade, and the marketplace cap may well be upper on an absolutely diluted bases. The IPO is expected to snatch park nearest year.

Omada, which deals digital aid techniques to help sufferers with continual statuses like prediabetes, diabetes and high blood pressure, would be the 2nd virtual fitness corporate to collision the marketplace in an issue of weeks nearest a longer drought. Virtual bodily treatment startup Hinge Fitness debuted at the Unused York Store Trade previous this week.

Omada, primarily based in San Francisco, describes its means as a “between-visit care model” this is complementary to the wider health-care ecosystem, in keeping with its prospectus.

Sean Duffy, Omada’s CEO, co-founded the corporate in 2012 with Andrew DiMichele and Adrian James, who’ve each moved directly to alternative ventures.

Omada’s income higher 57% in its first quarter to $55 million from $35.1 million a past previous, the submitting mentioned. For 2024, income rose 38% to $169.8 million from $122.8 million the former past.

The corporate’s web loss narrowed to $9.4 million within the first quarter from $19 million a past in the past.

“To our prospective shareholders, thank you for learning more about Omada,” Duffy mentioned within the prospectus. I ask over you to connect our travel.”

The company will trade on the Nasdaq under the ticker symbol “OMDA.”

Morgan Stanley, Goldman Sachs and JPMorgan Chase are leading the offering. Omada’s top shareholders are U.S. Venture Partners, Andreessen Horowitz and Fidelity.

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