Oura files to go public

Oura, the astute ringing maker, has filed to spell public.

The filing with the Securities and Exchange Commission connected Thursday shows that Oura’s gross has jumped substantially successful the past year. The institution went from $697 cardinal successful gross during the nine-month play that ended June 30 past twelvemonth to $1.2 cardinal during the corresponding play this year.

The institution has said antecedently said publically that it generated $500 cardinal successful gross successful 2024, astir $1 cardinal successful 2025, and that it expected to make adjacent to $2 cardinal successful gross this year.

The institution says it has sold 3.6 cardinal rings implicit the past year, and that it presently has astir 5 cardinal paid members — that is, users who subscribe to its work for broader wellness metrics. The filing besides says that Oura has an astir 85% weighted-average 12-month rank retention rate, meaning that astir 85% of members who motion up successful a fixed period are inactive subscribed a twelvemonth later.

The company’s rings, which merchantability successful the scope of $350 to $400, are, astatine their astir cardinal level, fittingness trackers designed to measurement a user’s biometrics — everything from metabolism and bosom complaint to accent levels and slumber patterns. Paired with an app, the ringing and that bundle are marketed by Oura arsenic an “always-on wellness quality platform.”

Late past month, it was reported that Oura was looking rise $3 cardinal during its expected nationalist offering. The company, which was founded successful Finland successful 2013, confidentially filed for an IPO successful May. Bloomberg antecedently reported that the institution is expected to question a $16 cardinal valuation. In October of past year, it had been valued astatine astir $11 billion.

In its SEC filing, Oura outlines wherever it believes its assemblage tin widen successful the coming years. “We judge our accidental extends beyond accepted wearable usage cases centered connected enactment and fittingness tracking,” it says. “We judge our level tin enactment importantly larger populations arsenic we proceed to grow access, physique objective evidence, and deepen integrations with wellness plans, employers, and attraction providers.”

Oura besides notes however its trove of information is fueling caller AI integrations. “We judge we person amassed 1 of the largest and highest-quality longitudinal biometric datasets successful user health, tracking implicit 50 wellness and wellness metrics and representing astir 42 billion hours of physiological data,” it states. “This dataset powers our AI and machine-learning models, which decode analyzable physiological patterns and amended successful accuracy, personalization, and predictive capableness arsenic subordinate histories deepen.”

TechCrunch has reached retired to Oura for much information.

The company, which present has offices passim the world, including San Francisco, was precocious deed with a projected people enactment lawsuit accusing it of misleading users astir the accuracy of its slumber tracking capabilities. The suit alleges Oura’s rings can’t really observe the physiological signals needed to find slumber stages, and alternatively trust connected AI-generated estimates that the ailment describes arsenic small much reliable than a coin flip. The litigation follows years of online complaints from users who said that Oura consistently rated their slumber arsenic optimal when, successful fact, it was not.

The institution has disputed the allegations and antecedently told TechCrunch it volition “defend against” the claims successful the “appropriate ineligible forum.”