Oura Health Oy Plans US IPO to Raise $3 Billion

Oura Health Oy, the manufacturer of health-tracking smart rings, is seeking to raise up to $3 billion through an initial public offering in the United States. The listing, which could occur as early as September, may value the company at more than $16 billion.

The company filed confidentially for the IPO in May and is working with a consortium of banks including Goldman Sachs, Morgan Stanley, JPMorgan Chase, Allen & Co., and Jefferies Financial Group. Existing investors are expected to sell a significant portion of stock during the offering.

Oura expects its 2026 revenue to reach $1.5 billion, marking a substantial increase from the $500 million it generated in 2024. This financial expansion occurs as the company competes in the expanding wearables market against major technology firms such as Apple Inc. and Samsung Electronics Co.