Oura postpones $2.2B IPO citing market uncertainty

Smart ring maker Oura has postponed its planned up to $2.2 billion initial public offering (IPO) indefinitely, citing uncertainty in the market.

The company had filed to offer 55 million shares at a price range of $40 to $44 each, which would have valued Oura at up to $15 billion. No further details on the postponement were provided.

"Our mission is to empower people to live healthier, longer lives, and an IPO is just one step in our journey. We aim to deliver an extraordinary IPO for our employees and investors and we have the luxury of choosing our moment. In the meantime, we will execute against the opportunities ahead," said CEO Tom Hale in a statement.

Oura has reported strong growth. The company's latest product, the Oura Ring 5, has been well-received, and it now has 5.7 million paying members, up from 5 million at the end of June. Oura expects its total revenue to increase 90% in its 2026 financial year compared to the previous year.

However, the IPO postponement will delay the company's plans for the proceeds it would have generated, as well as shareholders' liquidity plans. Early investor Forerunner Ventures was slated to sell its entire 9.3% stake in the IPO, which would have netted it approximately $1.2 billion. Oura, meanwhile, intended to use a significant portion of the IPO proceeds to cover tax obligations related to employee share grants.