Robinhood Securities has joined smart-ring maker Oura’s planned initial public offering as an underwriter, marking the brokerage’s first formal underwriting assignment after receiving approval for underwriting activities in June 2026. Oura filed its registration statement on September 3 and plans to list on Nasdaq under the ticker OURA, targeting a market capitalization above $16 billion. Robinhood is ranked 18th and last in the underwriting group, led by Goldman Sachs, Morgan Stanley, JPMorgan, Allen & Co. and Jefferies. The role gives Robinhood direct involvement in discussions over IPO share allocations, expanding on its IPO Access program, which previously distributed shares received from lead underwriters. Oura generated about $1.4 billion in revenue during the 12 months ended June 30, up 74% year-on-year, and reported net earnings of $60.77 million, compared with $1.57 million in the prior-year period. The company has 5 million paying members, with 94% of ring buyers converting to memberships and an 85% 12-month retention rate. Oura’s proposed valuation exceeds the $11 billion valuation from its October 2025 financing round.