Paperwork filed with the SEC shows the wearable pioneer is gearing up for Wall Street
Smart ring leader Oura has privately submitted its initial draft prospectus to the SEC, taking the definitive first step toward going public in the United States.
While the exact timing, share count, and pricing details are being kept under wraps for now, Bloomberg reports that the company is ready to turn its massive commercial momentum into a blockbuster stock market debut later this year.
The decision to go public comes on the heels of a staggeringly successful period of growth for the hardware maker.
It closed a massive funding round late last year that pushed its private valuation to $11 billion, more than double what it was just 12 months prior.
That astronomical number is backed by solid financial health, too, with the company currently projecting its annual revenue to reach two billion dollars over the next year.
Cumulative sales of the ring have now also surpassed five and a half million units, a clear sign that smart rings have evolved from a wearable early adopters into a mainstream lifestyle staple.
To make itself even more attractive to public investors, Oura has been quietly transforming its platform from a simple sleep tracker into a serious health tool.
A platform makeover included its Health Panels blood testing service and Cumulative Stress tool just weeks after the Oura Ring 4 Ceramic editions debuted, with the brand also—just last week—working to integrate lab-grade hormone insights through a partnership with Mira. In February, it also rolled out new artificial intelligence models trained on clinical women’s health research.
By building this broader ecosystem, Oura is aiming to prove to Wall Street that its subscription model can stay successful—something we’ve long argued here at Wareable that it can, thanks to its regular flow of meaningful updates.
