Oura Is Going Public and There’s 1 Surprising Revenue Stream Driving Its Mega

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Oura Is Going Public and There’s 1 Surprising Revenue Stream Driving Its Mega-IPO

These are the big takeaways from Oura’s S-1 filing before it starts trading on the Nasdaq.

Oura Is Going Public and There's 1 Surprising Revenue Stream Driving Its Mega

While wearable electronics have been available for the better part of the last 15 years, IPOs in the field have been surprisingly slim. Fitbit’s debut on the New York Stock Exchange in 2015 is the most visible example. Other companies that have made waves in the space are either already publicly traded (and better known for other products) or have opted to remain private.

That will change soon with the initial public offering of Oura, Inc. The maker of a fitness-focused smart ring, which was founded in Finland in 2013, made its S-1 public this week, indicating it will begin trading in the near future. The 237-page document gives potential investors a look at the company’s finances, along with risks and opportunities.

Oura’s decision to reveal its IPO paperwork signals its road show with investors is about to begin. That means investors will learn even more about the IPO’s price and total raise, likely in the coming weeks as the first trade draws near. For now, though, here are some of the big takeaways Oura has given to investors.

Is Oura profitable?

Yes. Oura recently turned profitable, with net incomes of $60.8 million in the nine months ending June 30, up from $1.6 million in the same period last year. Revenues in that period were up 74 percent to $1.21 billion.

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What will the IPO price at?

The final number won’t be decided until right before the stock begins trading—and the S-1 does not offer a potential price range or valuation for the company. Those are typically added in an amendment to the company when the road show kicks off.