Smart Ring Maker Oura Seeks to Raise $3B via IPO

Smart ring maker Oura Health has filed for a U.S. initial public offering (IPO) that could raise up to $3 billion and value the company at more than $16 billion. The listing, expected as early as September 2026 on Nasdaq under the ticker “OURA,” includes a significant secondary sale by existing investors and is being managed by Goldman Sachs, Morgan Stanley, JPMorgan, Allen & Co., and Jefferies.

In its SEC filing, Oura disclosed rapid revenue growth—reporting $1.21 billion in revenue for the nine months ended June 30, 2026, up from $697.6 million a year earlier—alongside a widened net loss largely due to accounting effects from preferred stock conversions. The company previously raised $875 million in a Series E round in late 2025 at an $11 billion valuation and now projects 2026 revenue around $1.5 billion, with cumulative ring sales exceeding 5.5 million units as of late 2025.  SGB