Key facts
- Oura, a maker of smart wearable rings, has filed for a U.S. initial public offering.
- The company plans to list on the Nasdaq under the ticker symbol "OURA."
- For the year ended June, Oura reported $1.4 billion in revenue and $59 million in net income.
- Oura has a history of operating losses but has recently achieved profitability.
- The company has sold 3.6 million rings and has 5 million paid members with an 85% retention rate.
Oura, the maker of smart wearable rings, has filed for a U.S. initial public offering, a required step on the road to becoming a public company. The company plans to list on the Nasdaq under the ticker "OURA."
In the filing, Oura reported $1.4 billion in revenue and $59 million in net income for the one-year period that ended in June. Revenue had grown 74% year-over-year for the first three quarters of fiscal year 2026 compared to the same period in 2025. However, the company noted a history of operating losses, stating there is no assurance it will maintain profitability.
For the nine months ended in June, Oura incurred losses of $924 million on revenue of $1.21 billion, compared to losses of $182.8 million on revenues of $697.6 million for the same period a year prior. As of June, the company had 5 million paid members.
The filing also highlighted risk factors, including the potential unsustainability of its rapid growth rate and the impact of trade tensions and tariffs on product costs. Oura also relies on a limited number of retail partners, with its two largest customers accounting for 12% and 10% of total revenue for the nine months ended in June. Additionally, the company's business depends on outside AI models and third-party data centers, with potential disruptions posing risks.