Oura Aims for $2.2 Billion in US IPO

Sep 22, 2026

87 min

Sep 22, 2026 07:30

Smart ring maker Oura targets $2.2 billion in US listing

## Oura's Ambitious IPO Plans

Oura Inc, known for its health-tracking smart rings, is planning a significant US initial public offering (IPO) to raise up to $2.2 billion. The company, along with some investors, intends to offer 50 million shares priced between $40 and $44 each. Oura itself will sell 13.5 million shares, while existing investors, including Forerunner Ventures and Lifeline Ventures, will sell the remaining 36.5 million shares.

## Valuation and Market Debut

The IPO could value Oura at approximately $14.1 billion, potentially reaching $15 billion when including stock options and restricted units. This marks a notable increase from its $11 billion valuation in 2025 after a successful Series E funding round. The shares are expected to start trading on the Nasdaq under the ticker symbol "OURA" on September 29.

## Product and Market Growth

Founded in 2013, Oura has capitalized on the growing demand for lightweight health-monitoring devices. The Oura Ring 5, priced at $399 in the US, offers features like heart health, activity, and sleep tracking. The company also provides a membership service that tracks over 50 health metrics, boasting over five million subscribers as of June 30.

## Financial Performance

For the nine months ending June 30, Oura reported a net loss of $924.3 million on $1.21 billion in revenue, compared to a $182.8 million loss on $697.6 million in revenue the previous year. The increased loss is partly due to a deemed dividend related to convertible preferred stock.

## Context in the Tech IPO Landscape

Oura's IPO is part of a robust year for tech public offerings, following significant listings like SpaceX's $86.2 billion and SK Hynix's $26.5 billion debuts. This trend highlights the strong investor interest in tech companies despite broader market uncertainties.

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