Oura files to go public, and the ring becomes a Wall Street story
The smart ring maker filed an S-1 on September 3 for a Nasdaq listing, reporting $1.21 billion in nine-month revenue and 5 million paid members.
Oura filed its S-1 on September 3 for a Nasdaq listing under the ticker OURA. The numbers, as Octagon reports them: $1.21 billion in revenue for the nine months ended June 30, up 74%, along with 5 million paid members and a raise of up to $3 billion at a valuation above $16 billion.
Hardware is about 80% of revenue. That is the line public investors will circle. A ring sold once earns a hardware multiple, and a membership that keeps paying earns a software one. Oura's job between now and the roadshow is to show that its paid members belong to the second kind of business.
It also goes public with company. Apple just put a readiness score on a $399 watch, which makes the question of who owns recovery a live one.
Kyle Duford, Founder & Editor, BRNDWIRE. More from Kyle →
