ŌURA Inc., the developer of the Oura Ring and an integrated health intelligence platform, has formally filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission as it prepares for an initial public offering of its common stock. In the filing the San Francisco-based company said it had applied to list its shares on the Nasdaq Global Select Market using the symbol "OURA."
The S-1 filing arrives after a period of rapid top-line expansion and operational growth for the smart ring maker. The company did not disclose the number of shares to be offered or the proposed price range in the filing; those financial terms remain to be determined.
Major investment banks have been engaged to manage the planned offering. Goldman Sachs, Morgan Stanley, J.P. Morgan, Allen & Company and Jefferies are identified as joint lead book-running managers. BofA Securities, Barclays and Wells Fargo Securities are also listed as joint book-running managers, working alongside a larger syndicate of underwriters.
Key financial metrics in the filing underscore accelerating commercial momentum. For the nine months ended June 30, 2026, total revenue reached $1.21 billion, up 74% from $697.6 million in the same period a year earlier. Hardware sales were the dominant contributor to that growth, generating $973.98 million, while subscription-based Membership revenue climbed to $240.53 million, more than doubling from the prior-year period.
Profitability measures also improved year over year. Net income for the first nine months of fiscal 2026 rose to $60.77 million, compared with $1.57 million over the same period a year earlier. Adjusted EBITDA increased to $106.65 million during the nine months ended June 30, 2026.
The company said its installed base expanded markedly alongside revenue growth. Paid Members totaled 5.0 million as of June 30, 2026, versus 2.5 million a year earlier. Hardware shipments accelerated as well, with the company selling 3.1 million Oura Rings in the nine-month period compared with 1.8 million in the comparable period a year earlier.
Proceeds from the offering are slated for general corporate purposes, including technology development, working capital, operating expenses and capital expenditures. The filing also specifies that a portion of the net proceeds will be used to satisfy tax withholding and remittance obligations related to the settlement of restricted stock units.
Prior to the public filing, ŌURA completed a corporate restructuring. On March 31, 2026, the company redomiciled its parent entity from Finland to Delaware-based Oura Inc.
As the company moves toward a public listing, investors will be watching how management scales the combined hardware-and-software subscription model that underpinned recent growth. The filing provides detailed metrics on revenue mix, member growth and profitability that market participants will use to assess the company's operating leverage and capital requirements as it enters the public markets.