Oura files to go public

Oura 提交上市申请

Oura, the smart ring maker, has filed to go public. The filing with the Securities and Exchange Commission on Thursday shows that Oura’s revenue has jumped substantially in the past year. 智能戒指制造商 Oura 已提交上市申请。周四向美国证券交易委员会（SEC）提交的文件显示，Oura 的营收在过去一年中大幅增长。

The company went from $697 million in revenue during the nine-month period that ended June 30 last year to $1.2 billion during the corresponding period this year. The company has said previously said publicly that it generated $500 million in revenue in 2024, roughly $1 billion in 2025, and that it expected to generate close to $2 billion in revenue this year. 该公司去年 6 月 30 日结束的九个月期间营收为 6.97 亿美元，而今年同期则增长至 12 亿美元。该公司此前曾公开表示，其 2024 年营收为 5 亿美元，2025 年约为 10 亿美元，并预计今年营收将接近 20 亿美元。

The company says it has sold 3.6 million rings over the past year, and that it currently has approximately 5 million paid members — that is, users who subscribe to its service for broader health metrics. The filing also says that Oura has an approximately 85% weighted-average 12-month membership retention rate, meaning that roughly 85% of members who sign up in a given month are still subscribed a year later. 该公司表示，过去一年共售出 360 万枚戒指，目前拥有约 500 万名付费会员，即订阅其服务以获取更广泛健康指标的用户。文件还显示，Oura 的 12 个月加权平均会员留存率约为 85%，这意味着在某个月注册的会员中，约有 85% 在一年后仍保持订阅状态。

The company’s rings, which sell in the range of $350 to $400, are, at their most fundamental level, fitness trackers designed to measure a user’s biometrics — everything from metabolism and heart rate to stress levels and sleep patterns. Paired with an app, the ring and that software are marketed by Oura as an “always-on health intelligence platform.” 该公司的戒指售价在 350 美元至 400 美元之间，从最基础的层面来看，它们是旨在测量用户生物特征的健身追踪器，涵盖从新陈代谢、心率到压力水平和睡眠模式等各项指标。配合应用程序使用时，Oura 将戒指及其软件营销为“全天候健康智能平台”。

Late last month, it was reported that Oura was looking raise $3 billion during its expected public offering. The company, which was founded in Finland in 2013, confidentially filed for an IPO in May. Bloomberg previously reported that the company is expected to seek a $16 billion valuation. In October of last year, it had been valued at around $11 billion. 上个月底有报道称，Oura 计划在预期的公开募股中筹集 30 亿美元。该公司于 2013 年在芬兰成立，并于今年 5 月秘密提交了 IPO 申请。彭博社此前报道称，该公司预计将寻求 160 亿美元的估值。去年 10 月，其估值约为 110 亿美元。

In its SEC filing, Oura outlines where it believes its audience can widen in the coming years. “We believe our opportunity extends beyond traditional wearable use cases centered on activity and fitness tracking,” it says. “We believe our platform can support significantly larger populations as we continue to expand access, build clinical evidence, and deepen integrations with health plans, employers, and care providers.” 在 SEC 文件中，Oura 概述了其认为未来几年受众群体可以扩大的领域。该公司表示：“我们认为我们的机会不仅限于以活动和健身追踪为中心的传统可穿戴设备使用场景。随着我们继续扩大准入范围、建立临床证据并加深与健康计划、雇主和护理提供者的整合，我们相信我们的平台能够支持规模大得多的人群。”

Oura also notes how its trove of data is fueling new AI integrations. “We believe we have amassed one of the largest and highest-quality longitudinal biometric datasets in consumer health, tracking over 50 health and wellness metrics and representing nearly 42 billion hours of physiological data,” it states. “This dataset powers our AI and machine-learning models, which decode complex physiological patterns and improve in accuracy, personalization, and predictive capability as member histories deepen.” Oura 还指出其海量数据如何推动新的 AI 集成。该公司称：“我们相信，我们已经积累了消费者健康领域规模最大、质量最高的纵向生物特征数据集之一，追踪了超过 50 项健康和保健指标，代表了近 420 亿小时的生理数据。该数据集为我们的 AI 和机器学习模型提供了动力，随着会员历史数据的积累，这些模型能够解码复杂的生理模式，并提高准确性、个性化和预测能力。”

TechCrunch has reached out to Oura for more information. The company, which now has offices throughout the world, including San Francisco, was recently hit with a proposed class action lawsuit accusing it of misleading users about the accuracy of its sleep tracking capabilities. The suit alleges Oura’s rings can’t actually detect the physiological signals needed to determine sleep stages, and instead rely on AI-generated estimates that the complaint describes as little more reliable than a coin flip. TechCrunch 已联系 Oura 获取更多信息。该公司目前在全球各地（包括旧金山）设有办事处，最近遭遇了一起拟议的集体诉讼，指控其在睡眠追踪功能的准确性方面误导用户。诉讼称，Oura 的戒指实际上无法检测到确定睡眠阶段所需的生理信号，而是依赖于 AI 生成的估算值，诉状称其可靠性“不比掷硬币高多少”。

The litigation follows years of online complaints from users who said that Oura consistently rated their sleep as optimal when, in fact, it was not. The company has disputed the allegations and previously told TechCrunch it will “defend against” the claims in the “appropriate legal forum.” 在此次诉讼之前，多年来一直有用户在网上投诉，称 Oura 总是将他们的睡眠评为“最佳”，而实际上并非如此。该公司对这些指控表示异议，并此前告诉 TechCrunch，它将在“适当的法律论坛”中对这些指控进行“辩护”。