Oura has launched its initial public offering, with the health wearable company and existing shareholders offering 50 million shares priced between $40 and $44 each. At the top of that range, the offering could raise up to $2.2 billion. Oura has applied to list on the Nasdaq Global Select Market under the ticker OURA.
The company itself is offering 13.5 million shares, while existing shareholders are selling another 36.5 million. At the midpoint price of $42 per share, Oura expects to receive approximately $532.6 million in net proceeds from its portion of the offering. Most of those proceeds—around $526 million—are expected to cover tax obligations related to restricted stock units, with the remainder available for technology development, working capital and other corporate purposes.
Oura's business centers on its smart ring and accompanying subscription platform, which collects biometric information and provides insights across sleep, physical activity, stress, cardiovascular health, metabolic health and women's health. The company has increasingly incorporated AI into the platform to analyze longitudinal health data and deliver personalized recommendations and predictive health features.
The IPO follows a period of rapid growth. Oura generated $1.21 billion in revenue during the nine months ended June 30, representing a 74% increase from the same period in 2025. Net income increased from $1.6 million to $60.8 million, while paid membership doubled to five million users. The company sold 3.1 million rings during the period, compared with 1.8 million a year earlier.
Oura has also continued expanding beyond consumer wellness toward broader healthcare applications. Its latest Oura Ring 5 includes cardiovascular and respiratory monitoring, clinician access and longitudinal health-tracking capabilities. The company has also partnered with Dexcom to combine continuous glucose data with Oura's sleep, activity and other biometric measurements.
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