TLDR
- Oura has postponed its planned Nasdaq IPO
- The company cited uncertainty in the broader market as the reason
- The offering had aimed to raise up to $2.2 billion
- Revenue grew about 75% over the past year with subscribers topping 5 million
- The delay follows similar postponements from Holtec and Bamboo Insurance
Oura, the maker of the popular smart ring, has postponed its initial public offering on the Nasdaq exchange. The company said the decision came down to uncertainty in the IPO market.
Oura will delay its planned IPO on Nasdaq due to uncertainty in the market for first time offerings.
The startup and its shareholders were looking to raise as much as $2.2 billion in the US IPO, which was about four times oversubscribed. Read more: https://t.co/QdShVy2fKX
📷:… pic.twitter.com/wh4KxVwifH
— Bloomberg (@business) September 29, 2026
The health tech firm had planned to price its offering on Tuesday and begin trading on Wednesday. Instead, it chose to pause the process entirely.
“Our mission is to empower people to live healthier, longer, and an IPO is just one step in our journey,” said Tom Hale, Oura’s CEO, in a statement. He added that the company has “the luxury of choosing our moment.”
The offering had marketed 50 million shares priced between 40 and 44 dollars each. At the top of that range, Oura would have raised about 2.2 billion dollars.
That pricing would have valued the company at close to 15.62 billion dollars on a fully diluted basis.
Why the Delay Happened Now
Several factors are weighing on the IPO market this fall. Rising bond yields have made investors more selective about growth company valuations.
The Federal Reserve’s recent interest rate hike has added pressure. Investors are also questioning how much longer the artificial intelligence trade can keep driving markets higher.
Oura is not alone in pulling back. Nuclear services company Holtec suspended its own IPO plans earlier this month, and Bamboo Insurance delayed its listing as well.
One analyst noted that demand for Oura’s shares was still solid, with reports showing the offering was oversubscribed about four times over. That level of interest was described as decent but not overwhelming for a well known consumer brand.
Looking ahead, attention in the IPO market is shifting toward AI lab Anthropic. Reports suggest it could debut after the November midterm elections and may become one of the largest public offerings on record.
Oura’s Business Performance
Despite the delay, Oura’s underlying numbers have been strong. Revenue for the nine months ending in June reached 1.2 billion dollars, up roughly 75% from the prior year.
The company also reported pretax earnings of 107 million dollars over that same period, excluding noncash charges. Oura forecast revenue would jump 90% for the full 2026 fiscal year compared to the year before.
Oura’s rings retail between 400 and 500 dollars. A yearly subscription costs 70 dollars and gives users access to sleep tracking, temperature data, oxygen levels and guidance from an AI health advisor.
The company said renewal rates for subscriptions average 85%. Over 70% of its subscribers are women.
Oura was founded more than a decade ago in Finland. It reached a valuation of about 11 billion dollars in a private funding round last year, meaning the planned IPO price would have marked a jump from that figure.
The company said the launch of its newest device, the Oura Ring 5, has performed well since its debut. Paid membership on its platform has now grown to 5.7 million people.
Oura has not given a new timeline for when it plans to move forward with its public offering.
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