Oura Files for IPO, Aiming to Raise $3 Billion
Oura, a Finnish smart ring company known for its wearable health-tracking devices, has filed with the SEC for an initial public offering (IPO). The filing reveals that Oura's revenue surged from approximately $697 million in the nine-month period ending June 2025 to over $1.2 billion during the same timeframe this year. The company projects close to $2 billion in annual revenue and has sold around 3.6 million rings, with about 5 million paid subscribers using its health-tracking service. Oura is seeking a valuation of up to $16 billion for its IPO, which would value it significantly higher than the previous $11 billion from October last year. The company plans to raise $3 billion in capital and aims to expand beyond traditional fitness tracking by integrating with healthcare providers and leveraging AI-driven insights based on extensive biometric data collected over 42 billion hours. The IPO filing comes amid a proposed class-action lawsuit alleging that Oura's sleep-tracking features are inaccurate. The company has denied the claims, stating it will defend itself in court.
Topics: Health Tech IPO Revenue Growth Wearables