When it comes to tech IPOs, big names have dominated the headlines in 2026. First, it was Elon Musk’s SpaceX in June. Anthropic’s highly anticipated public offering is expected to occur this fall. And either late this year or early next, ChatGPT maker OpenAI is expected to make its market debut.
But now, a much smaller tech company has announced plans to go public. Oura, Inc, the maker behind the popular line of Oura smart rings, has filed registration papers with the Securities and Exchange Commission (SEC) for a proposed initial public offering.
Here’s what you need to know about Oura’s IPO.
What is Oura?
Oura is a manufacturer of smart rings and arguably has the strongest brand recognition in that category of wearables. The company was founded in Finland in 2013. It is now headquartered in San Francisco.
The company’s primary product is the Oura smart ring, which it currently sells in two distinct models: the Oura Ring 5 and the Oura Ring 4.
The rings feature optical sensors that measure biometric data about the user, including heart rate, sleep patterns, calorie burn, and more. The latest Ring 5 series currently starts at $399.
While the company’s primary product is hardware, its revenue stream also includes software subscription services. Owners of the Oura Ring can get more advanced information about their health by subscribing to the company’s Oura Membership, which costs $5.99 a month or $69.99 a year.
According to the company’s SEC filing, Oura now has 5 million paid subscribers. In the nine months ended June 30, 2026, it generated $240.5 million in membership revenue, on top of nearly $944 million from hardware sales.
Is Oura profitable?
When comparing its first three quarters of 2026 with the first three of 2025, Oura says it has achieved 74% year-over-year revenue growth.
The company also says that it recently became profitable and had a net income of $60.8 million for the nine-month period through June 30. However, it notes that it has a “history of operating losses.”
Ring-style wearables are increasingly popular with health-conscious consumers who want a piece of tech that can track their biometrics but comes in a smaller form factor and offers longer battery life than current smartwatches.
When is Oura’s IPO?
Oura’s filing only revealed its intent to go public. It did not say when its IPO would actually be. However, it’s reasonable to expect that Ora’s public offering could take place by the end of the month.
What is Oura’s stock ticker?
Oura says it intends to trade its shares under the stock ticker “OURA.” It has applied to list its shares on the Nasdaq Global Select Market.
What is the IPO share price of OURA?
Oura’s IPO share price is unknown at this time. In a release announcing its intention to go public, Oura stated, “The number of shares to be offered and the price range for the proposed offering have not yet been determined.”
How much will Oura raise in its IPO?
Oura may be looking to raise as much as $3 billion in its IPO, according to Bloomberg. However, the ultimate amount raised will depend on the company’s IPO share price and the number of shares it decides to sell. Those will likely not be determined until after the company’s roadshow is completed.
How much is Oura worth?
Last October, the Wall Street Journal said Oura was worth $11 billion. Bloomberg says that after its IPO, the company could be worth as much as $16 billion.