Oura, the smart ring manufacturer, has officially filed to go public. The filing with the Securities and Exchange Commission on Thursday, 3 September 2026, indicates a substantial rise in the company's revenue over the last year.
The company's revenue for the nine-month period ending June 30 this year reached $1.2 billion, up from $697 million during the corresponding period last year. Oura had previously stated it generated $500 million in revenue in 2024 and approximately $1 billion in 2025, with an expectation of nearly $2 billion this year.
Oura reports selling 3.6 million rings in the past year and currently has around 5 million paid members who subscribe to its service for health metrics. The company also states an approximately 85% weighted-average 12-month membership retention rate.
The rings, priced between $350 and $400, function as fitness trackers that measure biometrics such as metabolism, heart rate, stress levels, and sleep patterns. Oura markets the ring and its accompanying app as an "always-on health intelligence platform."
Reports late last month suggested Oura aimed to raise $3 billion during its public offering. The Finnish-founded company confidentially filed for an IPO in May and was previously reported to be seeking a $16 billion valuation, up from around $11 billion in October last year.
In its SEC filing, Oura outlined its belief that its audience could expand beyond traditional activity and fitness tracking, aiming to support larger populations through integrations with health plans, employers, and care providers. The company also highlighted how its extensive biometric data is being used to power new AI integrations.
Oura recently faced a proposed class action lawsuit alleging misleading claims about the accuracy of its sleep tracking capabilities. The company has disputed these allegations, stating it will "defend against" the claims in the "appropriate legal forum."