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Oura files to go public

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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. 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.

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.

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.”

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.

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.”

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.”

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. 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.”

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Insurers claim AI is already increasing healthcare costs

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Hospitals’ use of artificial intelligence tools as they submit insurance claims led to an additional $942 million in healthcare spending over a two-year period, according to an analysis by the Blue Cross Blue Shield Association.

The BCBSA analysis found “a sharp increase in patients being documented as having complex conditions,” but argued there is a “clear disconnect between [medical] coding and treatment,” as there’s “no evidence of corresponding change in care delivered.”

The New York Times pointed the analysis as just the latest sign that AI is contributing to an increase in healthcare costs. While battles between hospitals and insurers over treatments and payments are nothing new, the NYT said the use of AI on both sides seems to be making it worse.

Dr. Shiv Rao, founder of AI startup Abridge, acknowledged that the use of AI could lead to “a horrible dystopic future nobody wants to live in,” with “bots fighting bots, agents fighting agents.” But Rao said it might also reduce tensions and cut costs.

And the BCBSA’s senior vice president Luke Chalker resisted characterizing the situation as a battle, claiming, “It’s not a war. It’s a completely one-sided blood bath,” with insurers on the losing side.

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NDC raises concern over Enugu LG polls, commends peaceful process 

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The Nigeria Democratic Congress, NDC, in Enugu State has commended the peaceful and orderly conduct of Saturday’s local government elections in areas monitored by the party, describing the exercise as transparent and credible.

The state chairman of the party, Dr. Johnpaul Ani, gave the commendation after casting his ballot at Unit 002, Amaetiti Town Hall, Nkanu West Local Government Area of the state.

Ani said the voting process in his polling unit and the wider Nkanu West area was peaceful, orderly and hitch-free, while commending the Enugu State Independent Electoral Commission (ENSIEC) for the conduct of the exercise.

“First, my assessment of the process is that the process was peaceful, transparent and credible, the way I voted,” Ani said.

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“I want to commend the commission, ENSIEC, for conducting such a hitch-free exercise,” he addedm

The NDC chairman, however, alleged that the party received reports of access denial involving some of its officials in some local government areas.

He said the affected party officials were allegedly prevented from accessing local government council headquarters where election materials were being distributed to wards and polling units.

Ani mentioned Aninri, Nkanu East and Isi-Uzo as some of the areas from which the party received such reports.

According to him, the party had brought the allegations to the attention of the relevant authorities and urged ENSIEC to investigate them.

“We are calling on ENSIEC to do more to investigate this situation and then bring the perpetrators of this act to book,” he said.

He also alleged that reports reaching the party indicated that election materials had not reached some polling units in parts of the affected local government areas as of the time he spoke.

Ani, however, said the situation in Nkanu West was different, noting that election materials were delivered to all polling units in the local government.

“But in Nkanu West, where I am and where I voted, materials got into every polling unit in the local government,” he said.

He said the NDC had deployed agents to polling units where it fielded candidates and that its agents monitored the voting, counting and movement of results to ward collation centres.

Ani expressed confidence in the party’s performance, saying it fielded candidates it believed understood the concerns of the electorate.

“For us in NDC, we are confident that we will win this election at the end of the day because we have done a campaign. We fielded credible candidates; we fielded people that understand what the masses want,” he said.

He said the party would await the official declaration of results by ENSIEC before deciding on any further action.

“As it is right now, ENSIEC is leading in some areas. Of course, we can’t win all. But we know where we have fielded candidates that we are confident we will win at the end of the day,” Ani said.

Meanwhile, as of the time of filing this report, the candidate of the All Progressives Congress (APC), Chief Sunday Aniachi, emerged winner in Akpugo Ward 5 as tue councillor-elect, with NDC winning some polling units.

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