Oura Files for IPO at a $16 Billion-Plus Valuation

Oura filed for its IPO on September 3, 2026, targeting a Nasdaq listing under the ticker OURA. The offering could raise up to $3 billion and value the Finnish company above $16 billion, with Goldman Sachs, Morgan Stanley, JPMorgan Chase, Allen & Co., and Jefferies leading the deal.

For the nine months ended June 30, 2026, revenue hit $1.21 billion, up from $697.6 million a year earlier, a roughly 73% jump. Net loss widened to $924.3 million from $182.8 million, a sign of heavy spending rather than an already profitable model. The company reports more than 3.6 million rings sold in the past year and a subscription tracking over 50 health metrics.

The Oura Ring is one of the most common wearables among Hyrox and DEKA competitors for tracking heart rate variability and sleep quality between training blocks, two markers that flag accumulated fatigue before it turns into an injury. A successful IPO would put the company on steadier long-term footing, a reassuring signal for athletes paying into a subscription meant to last several seasons.