Oura Inc., the company that sells rings that track people’s health and activities, has turned into an enormously profitable enterprise. Its IPO filing, disclosed on Thursday, showed that it generated $262 million in free cash flow in the nine months ending June 30. #Gadgets
Oura is also growing quickly, lifting revenue 74% to $1.2 billion in the same period. The number of rings sold hit 3.1 million in the nine month period, up from 1.8 million a year earlier, while the number of paying members doubled to five million. Paying members get extra benefits.
Oura is one of the highest profile examples of wearables startups, cashing in on consumers’ desire to track their health in detail. Oura is competing with Apple’s watch, Google’s Fitbit as well as other standalone firms such as Whoop.
https://techcrunch.com/20..
