Smart ring maker Oura files for IPO as revenue jumps 74%
Smart ring maker Oura Inc. filed a registration statement with the U.S. Securities and Exchange Commission today for a proposed initial public offering on the Nasdaq Global Select Market under the ticker symbol “OURA.”
Oura filed confidentially for the listing in May. The share count and price range remain unset, and Bloomberg reported in August that the company was working toward a raise of as much as $3 billion.
The filing shows revenue of $1.21 billion for the nine months to June 30, up 74% from $697.6 million a year earlier, with net income of $60.8 million against $1.6 million a year ago. Early investors cashed out along the way, selling $1.09 billion of preferred stock back to Oura and retiring about 17% of the shares issued between the seed round and Series C-1. Because the accounts treat that repurchase as a deemed dividend, the loss attributable to common stockholders came to $924.3 million.
Membership revenue came to $240.5 million over the nine months, up 121% year-over-year, at a gross margin of 89%. Paid members doubled to 5 million. Ring sales accounted for the bulk of the rest, $974 million on 3.1 million rings shipped.
