Health-tracking smart ring maker Oura to list on US stock market

Fans of Oura are accustomed to using its trendy smart rings to fastidiously monitor their health but now investors are preparing to track a new metric – its share price.The San Francisco-headquartered company’s filing to imminently list on the Nasdaq stock exchange in New York was made public on Thursday.The former Friends star Jennifer Aniston has said publicly she is addicted to checking her Oura stats. Photograph: Michael Buckner/Variety/Getty ImagesFounded in Finland in 2013, the company’s smart rings have become something of a must-have item among wellbeing enthusiasts – with celebrity fans and ambassadors including Jennifer Aniston, Prince Harry, Kim Kardashian and the Spider-Man actor Tom Holland.The ring allows users to track metrics including heart rate, temperature and sleep quality.The rings sell for $349 (£257) to $499, with subscribers then paying $5.99 a month or $69.99 annually for full access to data on their health. The US filing showed a thriving high-margin business, which brought in $1.21bn in revenue in the nine months to 30 June, up 74% year on year.The company said it recently became profitable, making $60.8m in the same nine-month period compared with $1.6m in that time last year. It is aiming to list on the Nasdaq as soon as later this month with a valuation expected well above the $11bn it was valued at when it raised $900m last year.Of particular appeal to investors is the highly popular after-sales subscription business, which the company said has reached a base of 5 million users, doubling year on year, which had gross margins of 89% in the nine months to 30 June.Oura’s smart rings have become something of a must-have item among wellbeing enthusiasts. Photograph: Samuel Gibbs/The GuardianMembership revenue came to $240.5m over the nine months, up 121% year over year. Hardware sales accounted for about 80% of revenues.Subscribers opened the app more than 3.5 times a day on average, the company said. The former Friends star Aniston has said publicly she is addicted to checking her Oura stats.Subscribers are heavily skewed towards women, accounting for 72%, and 42% of the total base are aged 30 to 45, with 31% under 29.Oura said it has collected almost 42bn hours of biometric physiological data from users across 50 metrics.The latest product, Oura Ring 5, went on sale in May at $399, 40% smaller than its predecessor. It still records the heart rate, blood oxygen, temperature and motion, tracking more than 50 different metrics involved in your sleep, activity, readiness, stress, resilience, heart and women’s health.