Oura files for IPO following $1.21 billion revenue surge

Oura, the Finnish wearable technology company, has filed to go public in the United States, aiming for a listing on the Nasdaq under the ticker OURA. In its filing with the Securities and Exchange Commission, the company reported $1.21 billion in revenue for the nine months ending June 30, representing a 74% increase compared to the same period the previous year. Net profit for that period reached $60.8 million, up from $1.6 million a year prior.

The company reported selling 3.6 million rings in the last 12 months and has grown its base to approximately 5 million paying subscribers. While hardware sales accounted for $974 million (80%) of revenue, subscription services are a rapidly growing segment, contributing $240.5 million.

Despite this momentum, Oura faces increasing competition in the smart ring market. Competitors such as Ultrahuman are developing rings with advanced processors and potential AI capabilities, while Circular is working on models featuring NFC contactless payments and FDA-cleared ECG functionality. Ultrahuman has also recently navigated patent disputes involving Oura in the United States.