Omada shares open at $ 23 in Nasdak for the first time after the company’s public subscription

Omada health The shares jumped more than 40 % in their first appearance on the Nasdaq Stock Exchange on Friday after the virtual care company heated its shares at $ 19 per share in public subscription.

The stock opened at $ 23 and soon traded $ 27.

The company said in a press release Late Thursday, it sold 7.9 million shares in the offer, reaching about 150 million dollars. The pricing was in the middle of the expected range, and the company is estimated at a small amount of more than one billion dollars, although this number may be higher on a completely diluted basis.

Omada, founded in 2012, is circulating under the omda code. The company offers virtual care programs to support patients with chronic conditions such as diabetes, diabetes and high blood pressure. Sean Duffy, CEO of OMADA, participated in establishing the company with Andrew Dimishili and Adrian James, who moved to other projects.

It is the second general public health offer in weeks after the drought extending this industry. Starting digital physical therapy The health detailed He appeared for the first time on the New York Stock Exchange in May. Hinge is currently trading at $ 38.50 after selling shares in public subscription at $ 32.

The technical subscription market shows signs of life, as the joint was one of the latest offers. On Thursday, Crypto contributed Internet circle 168 % rose in the first New York paper appearance. Fintech Etoro started trading last month, condemning the Financial, which provides online banking services, hiring To strike the market next week.

“Today is the right moment for us,” Duffy told CNBC.Squawk box“Friday.” We love the size of the model, we love the action scale, and we are equally equal to the withdrawal of capital markets. “

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

Andressen Horowitz and Foundelity are the largest external shareholders in the company, each with between 9 % and 10 % of shares.