Health and fitness ring-maker Oura is going public at a valuation of $14.1 billion U.S.
The San Francisco-based company is holding an initial public offering (IPO) today (Sept. 21) on the Nasdaq (NDAQ) exchange under the ticker symbol “OURA.”
The company hopes to raise as much as $2.2 billion U.S. from its share sale. Oura is selling about 50 million shares for between $40 U.S. and $44 U.S., according to a regulatory filing.
The company makes smart rings that fit on people’s fingers and track metrics such as heart health, activity, and sleep.
Oura, which was founded in 2013 in Finland, was last valued at $11 billion U.S. in 2025 when it raised $875 million U.S. in a funding round.
Oura's rings have gained in popularity as consumers look to track their health metrics. The company sold 3.6 million smart rings over the last year. The rings retail for about $399 U.S.
Oura reported a net loss of $924.3 million U.S. on revenue of $1.21 billion U.S. for the nine months ended June 30 of this year.
Oura is the biggest technology IPO in the U.S. since the blockbuster market debuts of Elon Musk’s SpaceX (SPCX) and South Korean chipmaker SK Hynix (SKHY) earlier this year.
Wall Street investment banks Goldman Sachs (GS) and Morgan Stanley (MS) are serving as lead underwriters on Oura’s IPO.
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