Oura, the San Francisco-based maker of health-tracking smart rings, has officially filed for an initial public offering on the Nasdaq exchange. The company, which was founded in Finland in 2013, has gained significant popularity among wellness enthusiasts and high-profile figures, including Prince Harry, Jennifer Aniston, Kim Kardashian, and actor Tom Holland.
The firm’s financial trajectory has shifted toward growth, recording its first annual profit of $1.6 million last year. This momentum continued into 2026, with the company reporting a $60.8 million profit for the nine-month period ending June 30. Market analysts expect the upcoming listing to command a valuation well above the $11 billion mark achieved during a $900 million funding round last year.
A primary driver for investor interest is the company’s subscription-based model, which has grown to 5 million users—a figure that has doubled year-on-year. This segment proved highly lucrative, delivering gross margins of 89% during the first nine months of the year. To date, Oura has amassed nearly 42 billion hours of biometric data, tracking over 50 distinct physiological metrics.
The company’s latest hardware, the Oura Ring 5, launched in May with a retail price of $399. The device is 40% smaller than its predecessor and monitors a comprehensive range of health indicators, including blood oxygen levels, heart rate, temperature, and motion. These metrics feed into the platform’s analysis of sleep, stress, resilience, activity, and women’s health. The report also notes that founded in Finland in 2013 and now headquartered in San Francisco, Oura makes smart rings that have become a must-have item among wellbeing enthusiasts, with celebrity fans and ambassadors including Jennifer Aniston, Pri.
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