COMPANY INTELLIGENCE
Oura
Oura develops a smart ring and companion membership that deliver personalized health data, insights, and daily guidance.
The Company
Oura sells a smart ring through direct-to-consumer and wholesale channels, then monetizes the relationship through paid memberships that unlock features in its companion app. The company says more than 94% of ring activations have historically converted to paid memberships.
The company was founded in Finland in 2013 and redomiciled to the United States in 2026. Its amended S-1 reveals a business that generated $1.21 billion of revenue and $60.8 million of GAAP net income in the first nine months of fiscal 2026.
Why It Matters
Oura is a direct test of whether public investors will value a consumer wearable as a recurring health-intelligence platform rather than as a hardware product alone. Its IPO will offer a useful reference point for subscription retention, hardware gross margin, and the market appetite for consumer preventive-health businesses.
Valuation History
- $2.55B→2022Series C
- $5.2B→2024Series D
- $10.9B→2025Series E
- $40–$44→Sep 2026Proposed IPO range
What Changed
Oura is founded in Finland around the Oura Ring health wearable.
The company begins monetizing its paid membership subscription.
Reported revenue reaches $907.9 million for the fiscal year, with direct-to-consumer and wholesale channels both expanding.
Oura redomiciles to the United States and files an amended S-1 for a Nasdaq listing under OURA.
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