Oura, a manufacturer of smart rings, filed its S-1 registration statement with the SEC on September 3, 2026. The company plans to list on the Nasdaq exchange under the ticker OURA. Bloomberg projections suggest the IPO could value the firm at over $16 billion and raise up to $3 billion.
For the nine months ending June 30, 2026, Oura reported revenue of $1.21 billion, a 74% increase from the previous year. Hardware sales contributed $974 million, while subscriptions accounted for $240 million. The company reported a net income of $60.8 million, alongside broader losses of $924.3 million due to a deemed dividend.
The company has approximately 5 million paid members with an 85% retention rate. Subscription services maintain an 89% gross margin. By June 30, 2026, Oura had shipped 3.1 million rings. The firm previously raised between $875 million and $900 million in a Series E round in October 2025, which valued the company at $11 billion.
Oura's S-1 filing highlights potential risks, including supply chain disruptions, component price volatility, and manufacturing quality control. The company also faces legal challenges concerning the accuracy of its sleep-tracking data. The firm initially submitted a confidential filing in May 2026.
