Oura Confidentially Files for US IPO as 5.5 Million Smart Ring Sales Fuel Growth
Updated
Updated · Bloomberg · May 22
Oura Confidentially Files for US IPO as 5.5 Million Smart Ring Sales Fuel Growth
3 articles · Updated · Bloomberg · May 22
Summary
Oura said Thursday it has confidentially submitted IPO paperwork to the US Securities and Exchange Commission, setting up a potential listing as demand for health-tracking rings accelerates.
The company is seeking to capitalize on the broader wearable-device boom, though it has not yet disclosed the number of shares to be sold or a price range.
Oura previously said it had sold more than 5.5 million rings and was on track for 5 million paid members, with revenue rising fourfold over two fiscal years.
The filing could test investor appetite for new tech offerings after Oura reached an $11 billion valuation in October and as the IPO market shows signs of reopening.