San Francisco-based Oura has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering, marking the next stage in the smart ring company’s expansion as a preventive health and health intelligence platform.
Oura plans to list its common stock on the Nasdaq under the ticker symbol “OURA.” The company has not yet disclosed the number of shares it intends to offer or an expected price range. The filing follows a confidential draft registration statement submitted to the SEC in May.
Founded in Finland in 2013, Oura develops the Oura Ring, a wearable that continuously collects biometric information and provides users with insights across sleep, activity, stress, readiness, women’s health, metabolic health and heart health. The company has increasingly sought to position its technology beyond consumer wearables, with a broader focus on preventive health and longitudinal health data.
Earlier in 2026, Oura introduced its fifth-generation device, Oura Ring 5. The ring is 40% smaller than its predecessor and incorporates updated sensors and software designed to combine users’ clinical histories with continuously collected biometric information.
The IPO filing follows a period of significant increases in Oura’s private valuation. The company raised more than $900 million in October 2025, bringing its valuation to approximately $11 billion. That followed a $200 million Series D announced in December 2024, when Oura was valued at $5.2 billion.
The company is also facing legal scrutiny over its technology. A proposed class-action lawsuit filed in August alleges that Oura misled consumers regarding the accuracy of its sleep-stage tracking, arguing that its rings do not measure signals such as brain electrical activity or eye movements used in clinical sleep studies.
Oura has disputed the allegations and said its sleep-staging technology relies on physiological signals including heart rate, heart rate variability, movement, breathing patterns and temperature. The company said the technology has been validated against polysomnography in multiple studies. It also maintains that the Oura Ring is not a medical device or substitute for a clinical sleep study and intends to defend against the allegations.
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