Overview
- Reports on Monday and Tuesday said Oura is preparing a U.S. initial public offering to raise up to $3 billion and that major banks including Goldman Sachs, Morgan Stanley, JPMorgan Chase, Allen & Co., and Jefferies are lined up as underwriters.
- The company confidentially filed a draft registration with the SEC in late May, a step that lets Oura prepare a public prospectus while final terms remain subject to SEC review and market demand.
- Oura projects roughly $1.5 billion in revenue for 2026 and derives about 20% of sales from paid subscriptions, while cumulative ring shipments total millions, giving public investors recurring revenue alongside hardware sales.
- Coverage flagged a possible valuation above $16 billion and said some existing investors plan to sell significant stock in the deal, and one report noted a recent class‑action suit alleging inaccuracies in the product’s sleep tracking.
- Timing for a listing could slip from as early as September depending on market conditions and the SEC review, and the outcome will test investor appetite for consumer health hardware facing competition from Samsung’s Galaxy Ring, Whoop and long‑rumored Apple efforts.