Oura Files for IPO at $11 Billion Valuation as Smart Ring Sales Surge

Oura, the Finnish company behind the market-leading smart ring, has confidentially filed a Form S-1 with the U.S. Securities and Exchange Commission in preparation for an IPO later this year. The company is valued at approximately $11 billion.

By the Numbers

• 5.5 million rings sold to date
• $1.5 billion projected revenue for 2026
• $875 million raised in the most recent funding round
• Goldman Sachs, Morgan Stanley, and JPMorgan Chase are managing the offering

Why It Matters

Oura's IPO validates the entire smart ring category. When the company launched the original Oura Ring in 2015, smart rings were a niche curiosity. Now, with Samsung, RingConn, Ultrahuman, and even Dreame entering the market, smart rings are projected to ship over 15 million units in 2026.

Competitive Landscape

The timing is notable: Oura's biggest competitors are gaining ground. The RingConn Gen 3 just launched with haptic feedback, the Ultrahuman Ring Pro returned to US shelves with a 15-day battery, and Samsung is rumored to be developing a Galaxy Ring 2. The IPO gives Oura capital to defend its market-leading position.

What This Means for Buyers

An IPO doesn't directly affect the product, but it signals long-term commitment to the platform. Buyers can feel more confident about Oura's software updates and subscription service continuing. Check the latest Oura Ring 4 prices or compare all rings in our smart ring guide.