Omada Health Inc., a virtual chronic care management platform, filed for an initial public offering (IPO) aiming to raise $100 million. The company reported 38% revenue growth in the previous year, reaching $170 million, with a gross margin of 60%. However, it also posted a net loss of $47.1 million for fiscal year 2024, partly due to a large customer concentration in its contract with Cigna. This IPO marks the second digital health company to go public this year, following Hinge Health, signaling a renewed wave of digital health IPOs after a post-pandemic lull. Omada Health provides virtual care services between doctor's visits and is seen as part of the next generation of digital health startups entering the public markets.