Smart ring manufacturer Oura (OURA.US) applies for listing in the U.S., potentially raising over $2.5 billion.

Smart ring manufacturer Oura submitted an initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) on Thursday, with expectations that the IPO could raise more than $2.5 billion. The company plans to list on Nasdaq under the ticker symbol "OURA." Founded in 2013 and headquartered in San Francisco, California, Oura sells a sensor ring worn on the finger that tracks sleep, activity, stress, heart health, and women's health, along with an app that translates these readings into over 50 metrics and AI-generated health guidance. Oura sells its products directly to consumers and through approximately 8,400 retail locations, while also reaching more members through employers, government agencies, and healthcare partners. As of June 30, 2026, the company had 5 million paid members across 56 markets worldwide, a 100% year-over-year growth; the 12-month retention rate for paid members was around 85%. Data shows that the company's revenue for the 12 months ending June 30, 2026, reached $1.4 billion. In the first nine months of the fiscal year 2026, hardware products accounted for 80% of the company's revenue, while the remaining 20% came from recurring subscription revenuesubscription services that unlock full health insights features. Goldman Sachs, Morgan Stanley, JPMorgan, Allen & Company, Jefferies, Bank of America Securities, Barclays, Wells Fargo Securities, Citizens JMP, KeyBanc Capital Markets, Guggenheim Securities, Canaccord Genuity, Needham & Co., Raymond James, Rothschild, Truist Securities, and William Blair will act as joint book-running managers for the transaction. Notably, Robinhood Securities has been listed as a joint manager, indicating that Oura's stock is likely to be offered to retail investors through its brokerage app.