Smart ring maker Oura filed for a US IPO on Nasdaq under ticker OURA, targeting a $16 billion valuation as nine-month revenue jumped 74% to $1.21 billion on 3.1 million rings shipped and subscription revenue surged 121%.
Oura's filing shows nine-month revenue up 74% to $1.21 billion and membership revenue up 121% to $240.5 million, with net income of $60.8 million. Bloomberg's $16 billion valuation target and the Nasdaq listing under OURA support demand for the stock, though no share count or price range is set and a $924.3 million loss from a preferred-stock buyback clouds headline earnings.
With no share count or price range set, the final valuation depends on investor demand; Bloomberg's $16 billion target is based on revenue momentum and subscriber growth, not a settled price.
Oura reported $60.8 million in net income but a $924.3 million loss attributable to common shareholders, driven by a $1.09 billion buyback of preferred stock from early backers.
Membership revenue rose 121% to $240.5 million and paid members doubled to 5 million, giving Oura recurring software-like revenue on top of hardware sales. The open question is whether the market awards a software multiple to a hardware company.
Smart ring maker Oura filed for a Nasdaq IPO under ticker OURA, targeting a valuation above $16 billion. Revenue jumped 74% to $1.21 billion in the first nine months of the fiscal year, with membership revenue up 121% to $240.5 million and paid members doubling to 5 million. Net income reached $60.8 million, though a $924.3 million loss attributable to common shareholders reflects a $1.09 billion preferred-stock buyback.
Oura sells sensor-equipped smart rings and charges a paid membership for the full app experience, so each ring can generate both hardware revenue and recurring subscription revenue.
Bloomberg reported the listing could value Oura above $16 billion after nine-month revenue jumped 74% to $1.21 billion and membership revenue rose 121% to $240.5 million.
Oura has not set a share count or price range, and recent debuts like Unitree's 629% opening gain illustrate how unpredictable pricing can be in a crowded IPO market.