Oura, the good ring maker, has filed to go public.
The filing with the Securities and Change Fee on Thursday exhibits that Oura’s income has jumped considerably prior to now 12 months. The corporate went from $697 million in income throughout the nine-month interval that ended June 30 final 12 months to $1.2 billion throughout the corresponding interval this 12 months.
The corporate has mentioned beforehand that it generated $500 million in income in 2024, roughly $1 billion in 2025, and that it anticipated to generate near $2 billion in income this 12 months.
The corporate says it has offered 3.6 million rings over the previous 12 months, and that it presently has roughly 5 million paid members — that’s, customers who subscribe to its service for broader well being metrics. The submitting additionally says that Oura has an roughly 85% weighted-average 12-month membership retention fee, which means that roughly 85% of members who join in a given month are nonetheless subscribed a 12 months later.
The corporate’s rings, which promote within the vary of $350 to $400, are, at their most elementary stage, health trackers designed to measure a consumer’s biometrics — the whole lot from metabolism and coronary heart fee to emphasize ranges and sleep patterns. Paired with an app, the ring and that software program are marketed by Oura as an “always-on well being intelligence platform.”
Late final month, it was reported that Oura was seeking to increase $3 billion throughout its anticipated public providing. The corporate, which was based in Finland in 2013, confidentially filed for an IPO in Could. Bloomberg beforehand reported that the corporate is predicted to hunt a $16 billion valuation. In October of final 12 months, it had been valued at around $11 billion.
In its SEC submitting, Oura outlines the place it believes its viewers can widen within the coming years. “We imagine our alternative extends past conventional wearable use instances centered on exercise and health monitoring,” it says. “We imagine our platform can help considerably bigger populations as we proceed to increase entry, construct scientific proof, and deepen integrations with well being plans, employers, and care suppliers.”
Oura additionally notes how its trove of knowledge is fueling new AI integrations. “We imagine we’ve amassed one of many largest and highest-quality longitudinal biometric datasets in client well being, monitoring over 50 well being and wellness metrics and representing practically 42 billion hours of physiological knowledge,” it states. “This dataset powers our AI and machine-learning fashions, which decode advanced physiological patterns and enhance in accuracy, personalization, and predictive functionality as member histories deepen.”
TechCrunch has reached out to Oura for extra data.
The corporate, which now has workplaces all through the world, together with San Francisco, was just lately hit with a proposed class action lawsuit accusing it of deceptive customers concerning the accuracy of its sleep monitoring capabilities. The swimsuit alleges Oura’s rings can’t really detect the physiological alerts wanted to find out sleep levels, and as a substitute depend on AI-generated estimates that the criticism describes as little extra dependable than a coin flip. The litigation follows years of on-line complaints from customers who mentioned that Oura constantly rated their sleep as optimum when, in reality, it was not.
The corporate has disputed the allegations and beforehand advised TechCrunch it’s going to “defend in opposition to” the claims within the “acceptable authorized discussion board.”
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