Oura is reportedly eyeing a September IPO that could value it at more than $16B

Oura is reportedly planning a US IPO as soon as September that could raise up to $3 billion and value the smart ring maker above $16 billion. The potential listing would follow a sharp jump from its $10.9 billion valuation last year, even as rivals like Samsung and Whoop push deeper into health-tracking wearables. Oura also faces a proposed class action alleging it misled consumers about sleep-tracking accuracy, claims the company disputes.

A successful IPO would signal renewed investor appetite for premium consumer health hardware, especially devices combining subscriptions, wellness data, and mainstream appeal. But the lawsuit highlights a growing risk for wearables companies: as they make more sophisticated health claims, accuracy standards and regulatory scrutiny may become harder to avoid.