Oura, the Finnish maker of health‑tracking smart rings, filed an S‑1 with the U.S. SEC this week, signaling a public debut later in 2024. The filing lists Goldman Sachs, Morgan Stanley and JPMorgan Chase among the underwriters. Bloomberg cites an insider who expects the offering to hit the market before year‑end.

The company carries an estimated $11 billion valuation after an $875 million Series G round last year. CEO Tom Hale reported that Oura has sold 5.5 million rings to date and projects revenue of $1.5 billion for 2024, roughly triple its 2023 earnings. Those numbers underscore the ring’s move from niche gadget to mainstream wellness platform.

Oura joins a wave of high‑profile tech IPOs, with OpenAI rumored to go public as early as September and SpaceX filing to list under the ticker SPCX. Bringing a wearable that packs sensors, battery life and sleep analytics into a 10‑mm band, Oura’s market debut could pressure rivals to accelerate their own health‑tracking hardware roadmaps.

Investors will watch Oura’s ability to scale manufacturing while maintaining the precision that earned it praise as a “technological marvel.” If the IPO prices near the implied valuation, the capital raise could fund next‑gen ring iterations and expand distribution into pharmacies and corporate wellness programs, cementing the device’s role in everyday health monitoring.