Health ring maker Oura has been interviewing bankers to advise on an initial public offering that could take place as soon as this year, according to a person with direct knowledge of discussions.

A public offering would follow fast growth at the company, which sells connected devices and a monthly subscription to an app that tracks the user’s health, including sleep and fitness. The company reached $1.3 billion in annualized revenue late last year, according to a second person, up from $500 million in fall 2024, according to a Bloomberg report.