Smart Ring Maker Oura Launches US IPO

01:58 PM EDT, 09/21/2026 (MT Newswires) -- Oura, a smart ring maker, said Monday it launched a US initial public offering of 50 million common shares, expected to be priced in a per-share range of $40 to $44. The health intelligence platform is offering 13.5 million shares in the IPO, with the rest offered by certain company stockholders. The selling stockholders plan to grant a 30-day overallotment option to the IPO underwriters to buy up to 7.5 million additional shares, the company said in a statement. Drugmaker Eli Lilly (LLY) has indicated an interest in buying up to $100 million of the shares in the IPO, Oura said in a filing with the US Securities and Exchange Commission. Funds affiliated with investment firm Dragoneer Investment Group have shown an interest in purchasing up to $300 million of the shares. Oura expects its shares to trade on the Nasdaq Global Select Market under the OURA ticker. For the nine months through June 30, the company reported revenue of about $1.21 billion, up 74% year over year, the filing showed. Oura now expects to end its fiscal 2026 with about 5.7 million paid members, representing an annual growth of 96%, according to the Monday statement. The company said its competition includes general-purpose smartwatches and trackers made technology giants such as Apple (AAPL), Alphabet's (GOOG, GOOGL) Google and Samsung, as well as wrist-based fitness or activity-specific wearables such as Coros, Garmin and Whoop, according to the filing. The company sold 3.6 million Oura Rings in the year through June, representing roughly 2% penetration of the global wearables market. Oura is early in its international expansion efforts and aims to expand into "underpenetrated" markets, it said in the filing. The company estimates net proceeds of about $532.6 million from its share of the IPO, based on the midpoint of its proposed offering price range. It plans to use roughly $526.4 million of the proceeds to help cover expected tax withholding and remittance obligations related to the net settlement of restricted stock units. Earlier this year, artificial intelligence firms Anthropic and OpenAI confidentially filed for their respectively potential IPOs in the US. Price: 1164.74, Change: +11.81, Percent Change: +1.02