Smart ring maker Oura files for Nasdaq IPO

Oura, Inc., known for its smart rings, has announced its intention to go public by filing registration papers with the U.S. Securities and Exchange Commission (SEC). The company plans to list its shares on the Nasdaq stock exchange under the ticker symbol "OURA."

Founded in Finland in 2013 and now headquartered in San Francisco, Oura has established a significant brand presence in the wearable technology market. Its primary product, the Oura smart ring, is available in two models, Oura Ring 5 and Oura Ring 4. These rings utilize optical sensors to monitor biometric data, including heart rate and sleep patterns. The latest Ring 5 series starts at $399.

In addition to hardware sales, Oura generates revenue through its software subscription service, Oura Membership. This service provides more in-depth health insights for its over 5 million paid subscribers, costing $5.99 per month or $69.99 annually. For the nine months ending June 30, 2026, Oura reported $240.5 million in membership revenue and nearly $944 million from hardware sales.

The company states it achieved 74% year-over-year revenue growth comparing the first three quarters of 2026 to the same period in 2025. Oura also reported becoming profitable, with a net income of $60.8 million for the nine-month period, though it notes a "history of operating losses."

The exact timing and price for the IPO have not yet been determined in the SEC filing. Media reports suggest Oura could aim to raise as much as $3 billion, with a potential post-IPO valuation reaching up to $16 billion.