Health-tracking smart ring maker Oura to list on US stock market
Valuation above $11bn expected for firm whose fans include Prince Harry, Jennifer Aniston and Kim Kardashian Fans of Oura are accustomed to using its trendy smart rings to fastidiously monitor their health but now investors are preparing to track a new metric: its share price. The company’s filing to list imminently on the Nasdaq stock exchange in New York was made public on Thursday. Continue…
Health-tracking smart ring company Oura is set to list on the US stock market, with investors anticipating a valuation above $11 billion. The company, founded in Finland in 2013 and based in San Francisco, has gained popularity among wellness enthusiasts, boasting celebrity followers like Jennifer Aniston, Prince Harry, Kim Kardashian, and Tom Holland.
Oura’s flagship product is a smart ring that tracks various health metrics, including heart rate, temperature, and sleep quality. The ring costs between $349 and $499, with users paying a monthly subscription fee of $5.99 or $69.99 annually for full data access. In the nine months leading up to June, Oura's revenue reached $1.21 billion, a 74% year-over-year increase, and the company turned profitable for the first time, generating $1.6 million.
The following nine months resulted in a profit of $60.8 million. Oura's after-sales subscription business has attracted 5 million users, a 121% year-over-year increase, with a 89% gross margin. The majority of subscribers are women, accounting for 72% of the total base, and the majority of subscribers are aged between 30 and 45.
The latest Oura Ring 5 model, launched in May for $399, is 40% smaller than its predecessor and records over 50 health metrics.
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