Oura is preparing for an initial public offering on the Nasdaq, with the deal expected to be priced on September 29. The company is targeting a fully diluted valuation of $15.62 billion.
The firm reported a 74% revenue increase to $1.21 billion for the nine months ending June 30. Membership revenue grew by 121% to $240.5 million during the same period, with the company projecting 5.7 million paid members by the end of fiscal 2026.
Oura's business model centers on turning biometric data from its smart rings into personalized health guidance. The company launched a proprietary AI model in February, which powers the Oura Advisor chatbot to provide insights on women's health based on user data.
Eli Lilly has expressed interest in purchasing up to $100 million of the offering. The subscription service, which provides over 50 health metrics, maintains an 89% gross margin, as the company shifts focus from one-time hardware sales to recurring data-driven services.
