Oura IPO Could Hit $16 Billion Valuation as Revenue Jumps 74%
Smart ring maker Oura filed for a US initial public offering (IPO) on Thursday. The Oura IPO will put the company on Nasdaq under the ticker OURA.
Revenue climbed 74% to $1.21 billion over the first nine months of the fiscal year. Bloomberg reported that the listing could value Oura above $16 billion.
Ring Sales and Subscriptions Both Doubled
The product is a sensor-equipped ring worn on the finger. Optical sensors read blood flow, heart rate, body temperature and movement through the night. The app then converts that into daily sleep, activity and readiness scores.
The business model matters here. Buyers own the hardware outright, yet the full app sits behind a paid membership. Therefore each ring can earn revenue twice. Daily users also equal 65% of monthly users, a sign that people keep wearing it.
The prospectus covers the nine months that ended June 30, 2026. Oura shipped 3.1 million rings in that stretch, up from 1.8 million a year earlier. Those sales brought in $974 million.
Full-year revenue for fiscal 2025 came to $907.9 million, more than double the $406.8 million a year earlier. Across the four quarters through June, the figure reached $1.43 billion.
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