Oura, the company behind health-tracking smart rings, has publicly filed to list on the Nasdaq stock exchange in New York. The San Francisco-headquartered firm's filing was made public on Thursday.
Founded in Finland in 2013, Oura's smart rings track metrics such as heart rate, temperature, and sleep quality. The company reported $1.21bn in revenue for the nine months to 30 June, marking a 74% increase year-on-year. During the same period, Oura became profitable, recording $60.8m compared to $1.6m last year.
The company aims to list on Nasdaq as soon as later this month, with a valuation expected to exceed the $11bn it was valued at last year. Oura's subscription business, which has reached 5 million users, doubled year-on-year and generated $240.5m in membership revenue over the nine months to 30 June, an increase of 121% year-over-year.