Oura files to go public after revenue surges to $1.2B
Smart ring maker Oura has officially filed for an IPO with the SEC, reporting rapid revenue growth and reaching 5 million paid members.
Stock photo for illustration only, not from the actual event
- Smart ring manufacturer Oura has officially filed for an initial public offering with the SEC.
- Revenue for the nine-month period ending June 30 surged significantly to $1.2 billion.
- The company sold 3.6 million rings over the past year and boasts 5 million paid members.
Oura, the prominent developer and manufacturer of smart rings, has filed paperwork to go public with the U.S. Securities and Exchange Commission (SEC). This move follows a confidential IPO filing submitted by the company earlier in May.
The regulatory filing highlights substantial financial growth for the company. During the nine-month period ending June 30 of this year, Oura's revenue jumped sharply to $1.2 billion, compared to $697 million recorded during the corresponding period of the previous year.
Stock photo for illustration only, not from the actual event
Previously, the company publicly stated that it generated $500 million in revenue in 2024 and approximately $1 billion in 2025, with expectations to approach $2 billion this year. According to prior reports by Bloomberg, Oura is anticipated to seek a valuation of up to $16 billion during its public offering, stepping up significantly from an $11 billion valuation in October of last year.
Regarding its user base, Oura reported selling 3.6 million rings over the past year, bringing its current count to approximately 5 million paid members who subscribe to access broader health metrics. The company also maintains a weighted-average 12-month membership retention rate of roughly 85%.
Oura's decision to pursue a public offering comes as the health-focused wearable tech market experiences intense competition from both tech giants and nimble startups. Securing billions through an IPO will provide the firm with essential capital for advancing sensor technology and expanding its global footprint to defend its market leadership in smart rings.
Despite its financial momentum, Oura faces legal headwinds as it heads toward the public markets. The company was recently hit with a proposed class-action lawsuit accusing it of misleading users over the accuracy of its sleep-tracking capabilities, with plaintiffs claiming the rings rely on AI estimates rather than direct physiological detection. This litigation follows years of consumer complaints regarding sleep tracking performance.
Source: TechCrunch
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