Omada health The price of its stock in its IPO by virtual chronic care company jumped more than 40% in shares at its NASDAQ on Friday after a price of $ 19 per share.
Stock opened at $ 23 and quickly traded $ 27.
The company said Press release Late Thursday night, it sold 7.9 million shares in the offer, which was about $ 150 million. The pricing was in the middle of the expected range, and the company gave the value of more than only 1 billion dollars, although this number could be higher on a completely thin base.
The Omada, established in 2012, is trading under the tick symbol “OMDA”. The company offers virtual care programs to support patients with chronic conditions such as predeabities, diabetes and hypertension. Omada CEO Sean Dafi co-established the company with Andrew Dimchell and Adrian James, which both have moved to other undertakings.
It is a second digital health initial public offering in a few weeks after an extended drought for the industry. Digital physical therapy startup Kaj health In May, he was debuted on the New York Stock Exchange. Hing is currently trading at $ 38.50 after selling shares in its IPO at $ 32.
Tech IPO market is showing signs of life, in which Kaj is one of the latest offerings. On Thursday, crypto company shares Circle internet 168% increased in his NYSE debut. Fintech Company Etoro started the business last month, and Chime Financial, which provides online banking services, set To hit the market next week.
“Today is the right moment for us,” Dafi told CNBC that “Squalk box“On Friday.” We like the scale of the model, we like the scale of business, equally we have pulled from the capital markets. ,
Omada’s revenue increased by 57% to $ 55 million in its first quarter, which had increased to $ 35.1 million a year ago to $ 35.1 million a year ago. For 2024, the revenue rose 38% to $ 169.8 million last year from $ 122.8 million to $ 169.8 million. The company’s net disadvantage was compressed by $ 19 million to $ 9.4 million a year ago in the first quarter.
The US Venture Partners, Andresen Horovitz and FMR of Fidelity are the largest external shareholders in the LLC company, each of which is between 9% and 10% stock.
