Overview
- Oura formally filed an S-1 with the SEC on Thursday, September 3, 2026, saying it will seek a Nasdaq listing under the ticker OURA and reporting $1.4 billion in trailing-12-month revenue with about $59 million in net income to June 2026.
- The company said it has roughly 5 million paid members and sold about 3.6 million rings in the past year, with a weighted-average 12-month membership retention rate near 85 percent.
- Oura’s business is driven mainly by hardware sales, which made about 80 percent of revenue in the nine months to June, while membership subscriptions contributed roughly 20 percent and showed rapid growth.
- The S-1 highlights operational vulnerabilities including dependence on a small number of large retail partners, exposure to tariffs, and reliance on third-party AI and cloud providers such as OpenAI, Anthropic, and Google, and it discloses a pending class-action suit over sleep-tracking accuracy.
- The filing names lead underwriters including Goldman Sachs, Morgan Stanley, and J.P. Morgan and notes reports that Oura may seek up to $3 billion in proceeds and a post-IPO valuation near $16 billion while timing and final terms remain subject to SEC review and market conditions.