An Oura good ring and charging case at MWC Barcelona 2026 in Barcelona, Spain, on Tuesday, March 3, 2026.
Angel Garcia | Bloomberg | Getty Photographs
Oura, the maker of the eponymous good ring that tracks the well being and sleep of wearers, has confidentially filed a draft of its IPO prospectus with the Securities and Change Fee, the corporate introduced on Thursday.
Oura didn’t specify the timeline for an IPO, saying it might happen after the SEC completes its evaluate course of, topic to market and different situations.
Launched in 2015, Oura’s good ring product has advanced nicely past sleep monitoring and now options a wide range of options centered on broader well being and wellness. In recent times, it has more and more centered on advancing preventative well being by new capabilities, AI, analytics and different options.
The corporate just lately reported it’s on observe to surpass 5 million paid members this quarter, a fourfold improve over the previous two years. That has led to a 4x improve in complete income over the previous two fiscal years, it mentioned.
Oura, which has been named to the CNBC Disruptor 50 record 4 instances, together with No. 14 in 2026, was valued at $11 billion in October following a $900 million Collection E funding spherical. The corporate has raised greater than $1.5 billion in complete.
Final September, Oura introduced that it had offered over 5.5 million Oura Rings because the product’s launch, up from 2.5 million rings the corporate mentioned it had offered as of June 2024.
CEO Tom Hale advised CNBC in November that Oura might generate near $2 billion in gross sales in 2026 because it invests in synthetic intelligence and worldwide growth. The corporate was on observe to safe $1 billion in gross sales in 2025, doubling its 2024 income, Hale mentioned.
Exercise within the IPO market has been considerably muted because the 2021 growth, however the IPO market is anticipated to warmth up within the U.S., led by the AI theme and the extremely anticipated choices from SpaceX and OpenAI. Final week, AI {hardware} firm Cerebras’s Nasdaq itemizing was the largest tech providing since Uber’s IPO in 2019. In response to IPO analysis and investing agency Renaissance Capital, a complete of $28.9 billion has been raised this 12 months throughout IPOs above the $50 million market cap vary, a 146% improve over final 12 months, with a complete of 100 offers filed 12 months so far, just like final 12 months’s degree. Final 12 months, 202 IPOs raised a complete of $44 billion, in comparison with practically 400 offers in 2021 that raised over $140 billion.
Oura’s success has come alongside elevated competitors and development within the broader health-focused wearables class. Apple has continued so as to add well being options to the Apple Watch, whereas Garmin mentioned it noticed a 42% improve in health product income in its first quarter of 2026 in comparison with final 12 months, due to “robust demand for superior wearables.”
Whoop, additionally named to the 2026 CNBC Disruptor 50 record, raised $575 million in Collection G funding at a $10.1 billion valuation in March. Earlier this month, Google introduced a brand new screenless Fitbit that it mentioned “delivers our most in-depth well being insights but.”
However Oura’s ring kind, in addition to its robust development, has helped it set up it as one of many class’s leaders. The corporate mentioned just lately that it now companions with greater than 1,200 well being, wellness and industrial manufacturers and organizations, together with partnerships with Workforce USA and U.S. Soccer.
Oura just lately moved its headquarters from Finland to San Francisco.
“We have earned the belief of tens of millions of individuals all over the world to assist them perceive a few of their most private well being alerts, together with sleep, stress, restoration, ladies’s well being, exercise, metabolic well being and extra,” Hale mentioned in a current press launch. “We have advanced past monitoring to ship actionable well being intelligence that helps folks higher perceive their our bodies and make extra knowledgeable selections for his or her long-term well being.”
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