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Oura files for U.S. IPO after reporting $1.21 billion in nine-month revenue
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News EditorBloomberg reported that smart ring maker Oura has filed for a U.S. initial public offering. The company said revenue for the nine months ended June 30 reached $1.21 billion, while net loss attributable to shareholders widened to $924 million from $183 million a year earlier. Oura said it sold about 3.6 million rings over the past year, with the Oura Ring 5 priced from $399 and paid memberships topping 5 million. Bloomberg also said the deal could raise as much as $3 billion at a valuation above $16 billion, with a Nasdaq listing under the ticker OURA. Goldman Sachs, Morgan Stanley and JPMorgan are among the underwriters. Oura also said Wednesday it expanded its board with executives from Netflix and Robinhood.
Bloomberg reported that smart ring maker Oura has filed for a U.S. initial public offering.
In filings, Oura said revenue for the nine months ended June 30 came to $1.21 billion. Net loss attributable to shareholders was $924 million, compared with a loss of $183 million in the same period a year earlier.
The company said it sold about 3.6 million rings over the past year. The Oura Ring 5 starts at $399, and paid memberships have topped 5 million.
Bloomberg reported in May that the listing could raise as much as $3 billion and value the company at more than $16 billion. The shares are expected to trade on Nasdaq under the ticker OURA. Goldman Sachs, Morgan Stanley and JPMorgan are among the underwriters.
Oura also said Wednesday that it expanded its board and added executives from Netflix and Robinhood.
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