Smart ring manufacturer Oura applies for a U.S. IPO, planning to list on NASDAQ

According to Bloomberg, smart ring manufacturer Oura has submitted an IPO application in the United States. The documents show that its revenue for the nine months ending June 30 was $1.21 billion, with a net loss attributable to shareholders of $924 million (compared to a loss of $183 million in the same period last year). Oura sold approximately 3.6 million rings in the past year, with the retail price of the Oura Ring starting at $399, and over 5 million paid members.

Oura secretly submitted its IPO application in May, and Bloomberg reported that the listing could raise up to $3 billion, with a valuation exceeding $16 billion, and is expected to be listed on Nasdaq under the ticker OURA. Goldman Sachs, Morgan Stanley, and JPMorgan are serving as underwriters. Oura announced on Wednesday that it is expanding its board by bringing in executives from Netflix and Robinhood.