Oura files for IPO, targeting $16B valuation
Original: Oura files to go public
Why This Matters
Oura's IPO tests wearable health tech market appetite and signals maturation of the consumer biosensor sector.
Finnish smart ring maker Oura filed for an IPO with the SEC on September 3, 2026, targeting a $16 billion valuation and aiming to raise $3 billion. Revenue surged from $697M to $1.2B in the nine-month period ending June 30, 2026.
Oura, the Finland-founded smart ring company, has filed an S-1 with the U.S. Securities and Exchange Commission, officially kicking off its path to a public listing. The company had confidentially filed for an IPO in May 2026. Bloomberg previously reported that Oura is targeting a $16 billion valuation — up from its $11 billion valuation in October 2025 — and plans to raise approximately $3 billion in its offering.
Revenue for the nine-month period ending June 30, 2026 reached $1.2 billion, compared to $697 million in the same period a year earlier. Oura has reported $500 million in revenue for 2024, approximately $1 billion for 2025, and expects close to $2 billion for the full year 2026. The company sold 3.6 million rings over the past year and currently counts approximately 5 million paid subscribers, with an 85% weighted-average 12-month membership retention rate.
Oura markets its $350–$400 rings as an 'always-on health intelligence platform,' tracking over 50 health metrics. The filing highlights nearly 42 billion hours of physiological data powering its AI and machine-learning models. The company also faces a proposed class action lawsuit alleging its sleep-stage tracking relies on AI estimates rather than actual physiological signals.