Reuters: IPOX® VP Kat Liu Comments on Oura’s $15.6 Billion IPO Valuation

Reuters reports that smart ring maker Oura has launched the roadshow for its U.S. IPO, targeting a fully diluted valuation of approximately $15.62 billion. Oura and existing shareholders plan to sell 50 million shares at an indicated price range of $40 to $44, potentially raising as much as $2.2 billion. The offering comes amid a relatively subdued start to the fall IPO season and heightened market volatility.

IPOX® Vice President Kat Liu provided Reuters with perspective on Oura’s positioning in the wearables market and the growth expectations reflected in its proposed valuation. Oura sold 3.6 million rings in the 12 months ended June 30, while revenue for the nine months ended June 30 increased approximately 74% year over year to $1.21 billion. The company expects to end fiscal 2026 with approximately 5.7 million paid members.

“One of Oura's strengths is that it is beginner friendly, fashionable and feels more like an easy add-on to everyday life, compared with some wearables that are more geared toward serious athletes and performance tracking,” Liu said.

“The valuation is clearly pricing in continued strong growth and a further shift toward higher-margin recurring revenue.”

Read the full article by Manya Saini on Reuters: Smart ring maker Oura eyes $15.6 billion IPO valuation in fall listings demand test