Oura Files for $2.2 Billion IPO, Aiming to Go Public on Nasdaq
Health-tracking ring maker Oura has filed for an initial public offering (IPO), aiming to raise up to $2.2 billion by selling 50 million shares priced between $40 and $44 each. The company plans to list its stock under the ticker symbol OURA on Nasdaq. Founded in Finland, Oura reported revenue of $1.2 billion for the nine months ending June 30, a significant increase from $697 million during the same period last year. Despite strong sales growth—selling 4.1 million rings compared to 1.8 million previously—the company recorded a net loss of $924 million in that time frame. Oura's subscription service has attracted 5 million paid members, with most users being women and over the age of 45. The firm competes against major players like Fitbit and Apple (AAPL) but differentiates itself through its screenless design, appealing to consumers looking for less distracting wearables.
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Topics: Health Tech Initial Public Offering Technology Wearables