Oura is preparing for an IPO aiming to raise up to $2.2 billion. The company and its current shareholders are offering 50 million shares at a price range between $40 and $44 per share. Existing investors are selling 36.5 million shares, which constitutes nearly two-thirds of the total offering.
Forerunner Ventures, the second-largest shareholder, plans to sell its entire 9.3% stake of 28.7 million shares. At a midpoint price of $42, this sale is expected to generate approximately $1.20 billion. These shares represent nearly 80% of the total volume being offloaded by existing investors during the IPO.
The company expects net proceeds of $532.6 million at the midpoint price, with $526.4 million earmarked to cover tax obligations from employee share grants. Only about $6.2 million will remain for general corporate purposes. Oura held $372 million in cash as of the end of June.
Oura reported hardware revenue of $974 million, while membership revenue grew to $240.5 million with an 89% gross margin. The company expects to reach 5.7 million paying members by September 30. Its market capitalization could reach $14.1 billion at the top of the price range.
