Oura files for IPO showing soaring revenue and widening losses

San Francisco-based smart-ring maker Oura Inc. files for a U.S. initial public offering on Nasdaq, targeting a valuation well above its previous $11 billion mark. The filing reveals a surge in revenue to $1.21 billion for the nine months ended June 30, 2026, alongside widening net losses of $924.3 million. To prepare for the listing, Oura expands its board with four veteran directors from Netflix and Robinhood, while emphasizing its product's health and disease-detection capabilities.

Oura IPO filing

• ▪San Francisco-based Oura Inc. aims to list its shares on the Nasdaq stock exchange as soon as September 2026
• ▪Health and fitness smart-ring maker Oura Inc. filed paperwork for an initial public offering in the United States on September 3, 2026

Revenue growth surge

• ▪The initial public offering filing of Oura Inc. on September 3, 2026, revealed high margins and a committed user base behind its smart-ring fitness tracker
• ▪Oura Inc. reported revenue of $1.21 billion for the nine months ended June 30, 2026, representing a significant increase from $697.6 million in the corresponding period a year earlier

Widening financial losses

• ▪Oura Inc. recorded a net loss attributable to stockholders of $924.3 million for the nine months ended June 30, 2026, compared to a net loss of $182.8 million in the same period a year earlier
• ▪The widening net losses of Oura Inc. for the nine months ended June 30, 2026, included the financial impact of a deemed dividend to certain holders of redeemable convertible preferred stock

Smart ring health tracking

• ▪Oura Inc. Chief Medical Officer Dr. Ricky Bloomfield stated on September 4, 2026, that the company's smart ring will help detect diseases
• ▪Oura Inc. designs and manufactures smart rings designed to track user health, fitness, and sleep metrics

Board expansion with veterans

• ▪The four new independent board members appointed by Oura Inc. have previously held leadership positions at major firms including Netflix Inc., Robinhood Markets Inc., and Deliveroo Plc
• ▪Oura Inc. announced on September 2, 2026, that it is appointing four new independent directors with public company experience to its board of directors

Expected valuation above $11B

• ▪Oura Inc. is expected to seek a valuation well above the $11 billion valuation it achieved during a funding round in 2025
• ▪The anticipated valuation of Oura Inc. above $11 billion was previously reported by The Wall Street Journal prior to the company's public initial public offering filing

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