Oura’s $924m loss is the price of buying back its own shares
Oura filed to go public on Nasdaq on 3 September, and the coverage split within hours. Reuters reported that the smart ring maker had recently turned profitable. The Wall Street Journal told its readers the same.
Bloomberg’s Subrat Patnaik led on a loss of $924.3m. Business Insider’s Kelsey Vlamis carried both figures without reconciling them. All four were reading the same page of the same document.
The Oura IPO filing carries both numbers, three lines apart. In the Form S-1 lodged with the Securities and Exchange Commission, net income for the nine months to 30 June 2026 is $60.8m. Directly beneath it sits a deemed dividend to holders of redeemable convertible preferred stock of $985.0m. Subtract one from the other and the result is $924.3m, which the filing labels net loss attributable to common stockholders.
That is the reconciliation the coverage skipped. The rest of it is more...
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