Oura Files for IPO Amidst SpaceX Hype
Oura, a healthcare technology company known for its smart rings that monitor health and sleep, filed for a confidential IPO with the U.S. Securities and Exchange Commission (SEC) on May 21, 2026. This filing came in the same week as SpaceX’s IPO announcement, which is projected to launch with a valuation of $1.8 trillion. In contrast, Oura is valued at approximately $11 billion following its October 2025 funding round.
Oura’s business model includes selling its smart rings priced between $349 and $499, along with subscription services at $5.99 per month or $69.99 annually. CEO Tom Hale reported anticipated sales of around $1 billion in 2025 and potential growth to nearly $2 billion by 2026. Oura faces competition from tech giants like Apple and Samsung, which have also entered the smart ring market.
Unlike the capital-intensive SpaceX, which reported a net loss of $4.9 billion last year, Oura’s model is described as profitable and scalable. SpaceX’s revenue for 2025 was $18.7 billion, giving it a high forward price-to-sales multiple if it doubles revenue, while Oura’s valuation corresponds to about 5.5 times its projected sales.
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