Oura Files Public S-1 for IPO as Revenue Eyes $2 Billion Benchmark.
Oura Files S-1 for US IPO After Reaching $1 Billion in Revenue and 5 Million Subscribers Smart ring pioneer Oura has officially filed its Form S-1 with the U.S. Securities and Exchange Commission (SEC), paving the way for an initial public offering (IPO) on Wall Street. The public registration follows a confidential filing submitted by the health technology firm in May. Explosive Financial Scaling and Subscriber Retention The S-1 documentation reveals rapid operational expansion and strong unit economics driven by hardware sales and high-margin recurring subscriptions: Top-Line Revenue Surge: Oura generated nearly $1 billion in total revenue for calendar year 2025 and projects top-line revenue to reach $2 billion in the current fiscal year. Hardware and Subscriber Scale: The company shipped 3.6 million smart rings over the past year, expanding its active paid subscription base to approximately 5 million users . High Retention Metrics: Oura reported a subscription retention rate...