Oura Inc. has decided to delay its U.S. initial public offering, originally slated to price on September 29, citing ongoing market uncertainty. This decision comes despite the company's offering being reportedly four times oversubscribed, indicating strong initial investor demand. The smart ring manufacturer had aimed to raise up to $2.2 billion by offering 50 million shares at a price range of $40 to $44 each, with a planned listing on the Nasdaq Global Select Market under the ticker OURA.
The postponement by Oura stands in contrast to earlier reports of its strong market reception, which had positioned it as a standout in an otherwise challenging IPO environment. Other companies, such as Holtec Nuclear, Bamboo Insurance, and SoftBank's SB Energy, had previously pulled or delayed their own offerings, while AI lab Anthropic also pushed back its IPO. Analysts had noted that Oura's profitability, recurring revenue model, and position in consumer health and wearable technology made it an attractive prospect, distinguishing it from capital-intensive plays.
For the nine months ending June 30, Oura reported revenue of over $1.2 billion, a significant increase from $697.6 million in the same period in 2025. While its net income for that period was $60.8 million, earlier filings had also shown a net loss attributable to stockholders of $924.3 million due to deemed dividends. The company also boasted 5.7 million paid members by the end of its 2026 fiscal year, demonstrating substantial growth in its subscription base. This delay suggests that even strong companies with favorable financials are cautious about the current market conditions for public debuts.
