Oura seeks up to $2.2 billion in Nasdaq IPO

Oura seeks up to $2.2 billion in Nasdaq IPO

Mon, September 21, 2026 at 4:58 PM GMT+3 1 min read

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Oura, the Finnish maker of smart health-tracking rings, disclosed plans on Monday to sell 50 million shares priced between $40 and $44 each in its initial public offering.

The offering could raise as much as $2.2 billion and value the company at up to $14.1 billion based on its outstanding shares at the top of the price range.

Oura itself will sell 13.5 million shares, while existing shareholders will offer the remaining 36.5 million.

The company will not receive any proceeds from shares sold by those existing stockholders.

Eli Lilly, the pharmaceutical company, has indicated interest in purchasing up to $100 million worth of shares, while investment firm Dragoneer has indicated interest in buying up to $300 million.

Oura reported revenue of $1.21 billion for the nine months ending in June, a 74% increase from the same period a year earlier.

The company had more than five million paying members as of June 30, with women accounting for 72% of its overall customer base.

Founded in 2013, Oura sold about 3.6 million smart rings in the past year, with devices tracking metrics including heart rate, sleep stages and physical activity.

The valuation would mark a sharp rise from the roughly $11 billion Oura was worth in 2025, when it raised $875 million in a Series E funding round.

Selling stockholders also intend to grant underwriters a 30-day option to purchase up to an additional 7.5 million shares at the IPO price.

Oura has applied to list on the Nasdaq Global Select Market under the ticker symbol OURA.