Health-tracking smart ring maker Oura to list on US stock market
Summary
Oura, a company that makes smart rings to monitor health, plans to list its shares on the Nasdaq stock market soon. The company reported strong growth, with over $1.2 billion in revenue for the first nine months of 2024 and recently became profitable.Key Facts
- Oura was founded in Finland in 2013 and is based in San Francisco.
- Its smart rings track health data like heart rate, temperature, and sleep quality.
- Rings cost between $349 and $499, with subscription plans at $5.99 monthly or $69.99 yearly for full data access.
- The company earned $1.21 billion in revenue in the nine months ending June 30, 2024, a 74% increase from the previous year.
- Oura made $60.8 million profit in the same period, up from $1.6 million the year before.
- It has about 5 million subscription users, doubling in one year, with 89% gross profit margin on subscriptions.
- Most subscribers are women (72%), and 42% are aged 30 to 45.
- The latest ring model, Oura Ring 5, is 40% smaller and tracks over 50 health metrics.
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