Oura’s S-1 Filing Shows $1.4 Billion in Revenue as IPO Path Advances

Oura filed its S-1 paperwork on Thursday, a required step on the road to an initial public offering. The company plans to list on the Nasdaq under the ticker OURA, according to the filing cited by Business Insider. For investors and wearable-tech watchers, the filing offers a first detailed look at Oura’s scale, growth profile, and public-company risks.

Oura reported $1.4 billion in revenue and $59 million in net income for the one-year period that ended in June. The company said revenue grew 74% year over year when comparing the first three quarters of fiscal year 2026 with the same period in 2025. At the same time, Oura disclosed $924 million in losses on $1.21 billion in revenue for the nine-month period ended in June, compared with $182.8 million in losses on $697.6 million in revenue for the same period a year earlier.

The filing said Oura had 5 million paid members as of June. It also said much of the company’s revenue comes from a “limited number of retail partners.” For the nine months ended in June, Oura said its two largest customers accounted for 12% and 10% of total revenue, respectively, making partner concentration a key item to watch.

Oura said it has “a history of operating losses” and has “only recently achieved profitability,” adding that “there can be no assurance that we will maintain profitability in any future period.” The filing also warned that rapid growth may not be sustainable and that the company expects its growth rate to slow over time. Other stated risks include trade tensions and tariffs, broader economic pressure, shifts in consumer spending, reliance on outside AI models including OpenAI, Anthropic, and Google, and dependence on third-party data centers.