The weight loss app Noom has quadrupled revenue again—this time to $237 million
As New Year’s resolutions are made and broken, revenue for Noom, a mobile weight-loss company, has ballooned to $237 million. Boasting more than 50 million downloads, and users who generate the bulk of the health app’s income, Noom’s latest number is up from $61 million in 2018 and $12 million in 2017, quadrupling earnings.
“Weight Watchers might focus on the latest way of counting points, but if you think about it, all of this is a different way of saying, ‘Eat this, not that,’ and we know psychologically that ‘Eat this, not that’ is not a great way to change your behavior, said Petakov.
and is expected to grow. Noom ranks 23rd in the Apple app store among health and fitness apps and is rated 3.9 in the Google Play store. “Because we’re changing the brain, our outcomes are durable, 60% of users one year after being on Noom are still maintaining their weight loss,” Petakov says. “We use a variety of factors to pick a bundle that we think would be appealing to a user and suggest it to them. A lot of it is based around how long we think it will take them to achieve the health outcome of what they’re trying to work on,” Petakov says. “It is a product that’s somewhat episodic in nature; it’s not like a subscription you have ongoing forever.”
“The longer that you’re in the program, the more human coaching resources that you’re using and therefore the higher our costs are,” Fawer says.
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