Oura Confidentially Files for IPO After Reaching $11 Billion Valuation

6 articles · Updated · CNBC · May 21

Oura said it has confidentially submitted a draft IPO prospectus to the SEC, with timing still dependent on the agency’s review and market conditions.
The filing follows rapid growth: the smart-ring maker said it is on track to top 5 million paid members this quarter, while total revenue has quadrupled over the past two fiscal years.
At an $11 billion valuation from its October Series E round, Oura has raised more than $1.5 billion and previously said it expected about $1 billion in 2025 sales and nearly $2 billion in 2026.
The move comes as the U.S. IPO market revives—$28.9 billion has been raised this year, up 146%—and as competition intensifies from Apple, Garmin, Whoop and Google’s Fitbit.

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