Oura files for Nasdaq IPO at $11bn+ valuation — SkimNews
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- Oura filed to list on Nasdaq, aiming for a valuation above $11bn — its last private mark from a $900m raise — as soon as later this month.
- Oura posted $1.21bn in revenue in the nine months to June 30, up 74% YoY, and a $60.8m profit after recording its first-ever profit of just $1.6m last year.
- Oura's subscription base hit 5 million users (doubled YoY) with 89% gross margins, $240.5m in membership revenue (up 121% YoY), and users opening the app 3.5+ times daily on average.
- Oura has amassed nearly 42 billion hours of biometric physiological data across 50 metrics from its user base, which skews 72% female with 42% aged 30-45 and 31% under 29.
- Oura Ring 5, launched in May at $399, is 40% smaller than its predecessor and tracks sleep, activity, readiness, stress, resilience, heart and women's health.
- Oura's celebrity ambassadors include Prince Harry, Jennifer Aniston, Kim Kardashian and Tom Holland; the company was founded in Finland in 2013 and is now headquartered in San Francisco.
Why it matters: The subscription economics, not the hardware, are what justify a premium over Oura's $11bn private mark: 5 million users paying $5.99/month at 89% gross margins, with membership revenue up 121% YoY even as hardware still drives 80% of total revenue. Investors buying the Nasdaq listing are really underwriting a recurring-revenue health-data platform disguised as a $399 ring.
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