Smart ring maker Oura files for US IPO
- On Thursday, Oura, maker of the Oura Ring, filed paperwork for a U.S. initial public offering, planning to list on the Nasdaq under the ticker "OURA."
- Revenue jumped 74 percent to $1.21 billion during the nine months ending June 30, as Oura sold 3.6 million rings over the past year and maintained approximately 5 million paid members.
- Building on expansion since being founded in Finland in 2013, the firm raised over $900 million last year at roughly $11 billion valuation and now seeks $16 billion.
- While marketing its $350 to $400 rings as an "always-on health intelligence platform," Oura faces a proposed class action lawsuit alleging misleading sleep-tracking accuracy; the company vowed to "defend against" the claims.
- Data representing nearly 42 billion hours of physiological information powers Oura's AI and machine-learning models, positioning the firm to widen its audience through health plan and employer integrations in coming years.
44 Articles
44 Articles
Oura, a smart ring manufacturer based in San Francisco that originated in Finland, is pursuing a listing on the U.S. NASDAQ. The company has established a high-profit structure based on subscription services beyond hardware sales and has secured 5 million members and vast biometric data. Wall Street is paying attention to the company's high valuation and growth potential, and it is proceeding with the listing process alongside major investment b…
Smart ring maker Oura reveals revenue surge in US IPO filing
The IPO market is expected to pick up steam after a summer lull. Analysts expect issuers to target the post-Labor Day window to get ahead of any uncertainty around November's midterm elections. Oura, whose journey began more than a decade ago in Oulu, Finland, makes a smart ring that tracks key health indicators such as heart rate, sleep stages and physical activity.
Oura Rings in Public Markets: Wearable Health Leader Files S-1 With Surging Revenue and 5 Million Subscribers
Oura filed its S-1 on September 3 revealing $1.21 billion in nine-month revenue, up 74%, with 5 million paid members and 55% gross margins. The smart ring leader prepares for an IPO that could value it above $16 billion amid strong consumer demand for discreet health tracking.
Coverage Details
Bias Distribution
- 52% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
