Dive Brief:
- Wearables firm Ōura plans to go public. The company announced last week that it has confidentially submitted a draft registration statement with the Securities and Exchange Commission.
- Ōura has not yet disclosed the price or number of shares to be offered.
- The planned IPO follows a $900 million funding round in October, which Ōura planned to use to develop more health features.
Dive Insight:
Ōura’s IPO shows its continued momentum as it delves further into health for its smart rings. Currently, the company’s wearables track metrics such as temperature, heart rate and sleep, but Ōura is looking to expand after receiving authorization from the Food and Drug Administration last fall to study a feature to detect signs of high blood pressure.
The company has also struck collaborations with medical device firms. Last week, Ōura said it would partner with Resmed, giving users access to a sleep assessment and educational resources. Ōura’s device monitors nighttime breathing patterns and can notify users if it detects a higher number of disturbances.
Dexcom invested $75 million in the company in 2024, and Ōura has added an integration with Dexcom’s over-the-counter glucose monitors.
In October, when Ōura raised $900 million in funding, the company said it had sold more than 5.5 million devices and expected to surpass $1 billion in revenue in 2025.
