Smart-Ring Maker Oura Files for $2.2 Billion US IPO

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Smart-Ring Maker Oura Files for $2.2 Billion US IPO

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Smart-ring manufacturer Oura Inc. has filed with the U.S. Securities and Exchange Commission to launch an initial public offering on the Nasdaq Global Select Market under the ticker symbol OURA. The company is offering 13.5 million shares alongside 36.5 million shares from existing stockholders, aiming to raise up to $2.2 billion at a price range between $40 and $44 per share. The offering establishes a fully diluted valuation between $14.1 billion and $15.6 billion. Pharmaceutical firm Eli Lilly has agreed to purchase $100 million in shares as a strategic investor. Financial disclosures show Oura generated $1.21 billion in revenue for the nine-month period ending June 30, 2026, marking a 74% year-over-year increase, alongside a net income of $60.8 million. Total paying members reached 5 million by mid-2026 amid increasing competition in the consumer health-monitoring hardware market from rivals including Apple and Whoop.

Published 2026-09-21 14:55:45 UTC · Published by JQJO

Prepared by Shahbaz A. · AI assisted

More context

Timeline

2013 — Oura founded in Oulu, Finland by Petteri Lahtela, Kari Kivelä, and Markku Koskela.
2025-10 — Oura achieves an $11 billion valuation following a Series E financing round.
On June 30 2026 Nine-month financial reporting period closes, recording $1.21 billion in revenue.
On September 21 2026 Oura officially files terms for its U.S. initial public offering on Nasdaq to raise up to $2.2 billion.

Why it matters

Immediate US impact: U.S. public markets gain a major consumer health hardware listing with significant institutional and strategic backing from firms like Eli Lilly. Possible long-term US impact: Increased mainstream integration of biometric smart-ring data with corporate healthcare and pharmaceutical initiatives. Most affected groups: Consumer wearable competitors, institutional investors, and digital health technology analysts. Reader priority: Monitor upcoming pricing updates and final Nasdaq trading debut details for the Oura public offering.

Coverage notes

Left: Insufficient verified coverage to establish this framing. Center: Factual reporting on financial terms, revenue milestones, and share pricing. Right: Insufficient verified coverage to establish this framing.