Oura, the Finnish company known for manufacturing popular smart rings that monitor health and fitness data, has confidentially filed for an initial public offering in the United States, according to multiple reports.

The company's smart rings have gained significant popularity among consumers and celebrities for their ability to track sleep patterns, heart rate, body temperature, and other health metrics in a discreet wearable format. The rings have been endorsed by various high-profile users and have carved out a notable niche in the competitive wearable technology market.

Oura's decision to pursue a public listing comes as the wearable device market continues to expand, with consumers increasingly interested in health monitoring technology. The company competes with larger tech giants like Apple and Fitbit in the broader fitness tracking space, though its ring format offers a unique alternative to traditional smartwatches and fitness bands.

The confidential filing allows Oura to begin the IPO process while keeping financial details private until closer to the actual public offering. This approach has become common among companies seeking to go public, as it provides flexibility in timing and market conditions.

No details about the potential valuation, number of shares to be offered, or timeline for the public debut have been disclosed. The company will need to make its filing public and provide detailed financial information before proceeding with the actual IPO.