● Covered by 1 source · 3 reportsMedium impact3 neutral
Oura Reportedly Plans September IPO with Over $16 Billion Valuation
Key points
- Oura plans a U.S. IPO in September to raise up to $3 billion.
- The IPO could value Oura at over $16 billion.
- This valuation is up from $10.9 billion in September 2023.
- Oura confidentially filed for an IPO in May.
- Oura's revenue increased from $697 million to $1.2 billion in the past year.
- Oura expects to generate close to $2 billion in revenue this year.
- Oura sold 3.6 million rings over the past year.
- Oura has approximately 5 million paid members.
- Oura has an 85% weighted-average 12-month membership retention rate.
- Oura rings sell for $350 to $400.
- Oura officially filed to go public on September 3.
- Oura's revenue was $1.21 billion for the nine months ended June 30.
- Oura launched the Oura Ring 5.
- Circular's upcoming ring will allow tap-to-pay.
- RingConn debuted a ring with haptic vibrations.
- Ultrahuman raised $70 million with Qualcomm's venture arm.
- Ultrahuman's ring will run software directly on the device.
IPO Plans and Valuation
Oura, the smart ring maker, is reportedly preparing for a U.S. initial public offering (IPO) as early as next month. The company aims to raise up to $3 billion in this offering, which could result in a valuation exceeding $16 billion, according to Bloomberg. This valuation would represent a substantial increase from the $10.9 billion valuation Oura received in September of last year during its $875 million Series E funding round.
Market Context and Competition
The wearables sector has become increasingly competitive. Samsung launched its Galaxy Ring two years ago, and fitness band maker Whoop, a direct competitor, has expanded its offerings to include hormone tracking and blood-panel testing, reaching a $10 billion valuation in March. Oura has also broadened its appeal beyond its initial niche, evolving into a mainstream sleep and recovery brand.
Financial Projections and Legal Challenges
Oura confidentially filed for an IPO in May. The company has projected revenues of $500 million in 2024, approximately $1 billion in 2025, and nearly $2 billion in 2026. However, Oura is also facing a proposed class action lawsuit filed in San Francisco, which alleges misleading claims regarding the accuracy of its sleep tracking features. Oura has stated it plans to defend against these claims, asserting that while its ring is not a medical device, its sleep staging has been validated in multiple studies.
Updates
- Oura officially filed to go public on September 3.
- Oura's revenue was $1.21 billion for the nine months ended June 30.
- Oura launched the Oura Ring 5.
- Circular's upcoming ring will allow tap-to-pay.
- RingConn debuted a ring with haptic vibrations.
- Ultrahuman raised $70 million with Qualcomm's venture arm.
- Ultrahuman's ring will run software directly on the device.
- Oura's revenue increased from $697 million to $1.2 billion in the past year.
- Oura expects to generate close to $2 billion in revenue this year.
- Oura sold 3.6 million rings over the past year.
- Oura has approximately 5 million paid members.
- Oura has an 85% weighted-average 12-month membership retention rate.
- Oura rings sell for $350 to $400.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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How outlets covered it
Oura, a Finnish smart ring company, filed to go public on September 3 after nearly doubling its revenue to $1.21 billion in the past nine months. This move comes as other companies like Circular, RingConn, and Ultrahuman introduce new smart rings with advanced features, intensifying competition in the market.
Oura, a smart ring manufacturer, has confidentially filed for an initial public offering (IPO) with the SEC. The company reported a revenue increase from $697 million to $1.2 billion in the past year and expects to generate close to $2 billion this year, indicating significant growth in the wearable health technology market.
Oura, the smart ring manufacturer, is reportedly planning a U.S. IPO in September to raise up to $3 billion, which could value the company at over $16 billion. This potential valuation marks a significant increase from its $10.9 billion valuation in September of last year and indicates continued growth in the wearables market.