Smart ring maker Oura has taken a major step toward becoming a publicly traded company, filing its paperwork with the U.S. Securities and Exchange Commission. The move highlights how wearable health technology is evolving from a niche category into a broader consumer platform.
The filing shows strong momentum in the company's business. Oura says revenue rose from $697 million in the nine months ending June 30 last year to $1.2 billion in the same period this year. The company has also previously said it generated $500 million in 2024, around $1 billion in 2025, and expected to approach $2 billion this year.
Founded in Finland in 2013, Oura has built its reputation around a ring that tracks biometrics such as heart rate, metabolism, stress, and sleep patterns. The device, priced roughly between $350 and $400, works with a companion app and is positioned as an always-on health intelligence platform.
Oura says it sold 3.6 million rings over the past year and now has about 5 million paid members. The company also reports an 85% 12-month membership retention rate, suggesting strong user loyalty for its subscription-based model.
Beyond hardware, Oura is leaning into data and AI. The company says it has collected nearly 42 billion hours of physiological data across more than 50 health and wellness metrics. It believes this database can improve personalization, prediction, and long-term health insights as its user base grows.
Looking ahead, Oura sees room to expand beyond fitness tracking into partnerships with health plans, employers, and care providers. If that vision scales, smart wearables could become a more central part of everyday health management in the years ahead.
