Leading company in the smart ring industry, Oura, officially announced on May 21, 2026, that it has secretly submitted a draft prospectus for its initial public offering (IPO) to the U.S. Securities and Exchange Commission (SEC). As a hardware manufacturer focused on preventive health management driven by AI and data analysis, Oura's move into the capital market marks a new milestone in the wearable device sector.

Gem Ring Smart Ring (2)

With this strategic move, Oura revealed extremely strong business growth data. Thanks to its continuous investment in AI health insights and internationalization strategy, the company is expected to exceed 5 million paid members this quarter, achieving a fourfold growth over the past two years and directly driving revenue to quadruple over the last two fiscal years. CEO Tom Hale predicted that the company's sales in 2026 could approach $2 billion. In terms of capital, Oura has raised more than $1.5 billion so far, and after completing its $900 million Series E financing, its latest valuation has surged to $11 billion.

Currently, competition in the wearable health device sector is becoming increasingly intense. In addition to Apple and Garmin continuously upgrading their health monitoring features, Whoop also follows closely with a valuation of $10.1 billion, while Google Fitbit has launched a screenless version to enhance deep health insights. In this context, Oura has successfully built a competitive barrier through its unique ring design and ecological cooperation with over 1,200 institutions. Recently, Oura also moved its headquarters from Finland to San Francisco to better integrate into the global technology and AI innovation hub.