OURA (OURA) financial model — FocusAlpha
Three-statement model of OURA (OURA): income statement, balance sheet, cash flow, segments and valuation, every reported figure linked to its filing. Key numbers: revenue (USD m) FY2024 407, FY2025 908, FY2026E 1,583, FY2027E 2,569, FY2028E 3,706; EPS – diluted FY2026E 0.08; target price 41.87 vs offering price, the midpoint of the range ($40.00–$44.00) 42.00. Built by FocusAlpha Model Builder; version f21bdd5 of 2026-10-28.
Income statement (USD m; margins and growth in %, EPS per share; negatives in parentheses; - = zero; E = model forecast)| Line | FY2024 | FY2025 | FY2026E | FY2027E | FY2028E |
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| Revenue | 407 | 908 | 1,583 | 2,569 | 3,706 |
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| Revenue YoY | | 123.2% | 74.3% | 62.3% | 44.3% |
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| Gross margin | 64.9% | 51.9% | 55.7% | 59.6% | 59.6% |
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| Operating income | 13 | 45 | 41 | 143 | 363 |
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| Operating margin | 3.3% | 5.0% | 2.6% | 5.6% | 9.8% |
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| Net income | 4 | - | 29 | 110 | 292 |
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| EPS – diluted | (0.30) | (8.53) | 0.08 | 0.31 | 0.82 |
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Segment revenue (USD m; margins and growth in %, EPS per share; negatives in parentheses; - = zero; E = model forecast)| Line | FY2024 | FY2025 | FY2026E | FY2027E | FY2028E |
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| Sales channels – revenue | | | | | |
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| Direct-to-consumer | 297 | 555 | | | |
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| Wholesale | 110 | 353 | | | |
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| Products / services / platforms – revenue | | | | | |
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| Hardware | 331 | 749 | 1,241 | 1,957 | 2,702 |
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| Membership | 76 | 158 | 342 | 612 | 1,004 |
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| Geography – revenue | | | | | |
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| United States | 324 | 730 | | | |
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| Rest of the world | 83 | 178 | | | |
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Valuation| Line | Value |
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| EPS, next four quarters (model, GAAP) | 0.24 |
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| Q4 FY26E | (0.09) |
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| Q1 FY27E | 0.21 |
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| Q2 FY27E | 0.04 |
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| Q3 FY27E | 0.07 |
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| Forward P/E (assumption) | 176.6x |
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| Revenue per share, next four quarters (model) | 6.65 |
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| Price / sales (assumption) | 6.3x |
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| Target price | 41.87 |
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| Target price on P/E | 42.00 |
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| Target price on price / sales | 41.87 |
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| Offering price, the midpoint of the range ($40.00–$44.00) | 42.00 |
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| Offering price range – low | 40.00 |
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| Offering price range – high | 44.00 |
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| Upside / (downside) to the target | (0.3%) |
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| P/E at the offering midpoint (check) | 176.6x |
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| Price / sales at the offering midpoint (check) | 6.3x |
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| Upside on P/E | - |
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| Upside on price / sales | (0.3%) |
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| P/E | 42.00 |
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| Price / sales | 41.68 |
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| Weight — P/E | - |
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| Weight — Price / sales | 100.0% |
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| Blended target price | 41.68 |
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| Upside / (downside) to the share price | (0.8%) |
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| Weights add up to | 100.0% |
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| Revenue vs the model – first forecast year | - |
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| Revenue vs the model – later years | - |
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| EBIT and EBITDA margin vs the model (points) | - |
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| Multiple vs the base multiple | 1.00x |
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