Oura pulls $15bn stock market listing days after announcement

Oura has postponed its plan to sell shares in its business on the US stock market, just days after announcing it. The firm, known for its smart rings that track health metrics, cited uncertainty in the Initial Public Offering (IPO) market as the reason for the delay. Despite filing documents to raise up to $2.2bn through share offerings, Oura will now determine an appropriate time for its public listing.

CEO Tom Hale noted that an IPO is merely one step in their journey, and they have the flexibility to choose the right moment. The tech company is the latest to delay its public listing, with experts attributing this trend to a more challenging IPO market. Holtec International, a US nuclear technology firm, also postponed its flotation due to similar market conditions.

The delay might be linked to broader economic factors, including rising energy costs, military conflicts, global trade tensions, and inflation concerns, which have led to central banks raising interest rates. As a result, the yield on US debt repayable in ten years has reached the highest level since 2007. Oura had planned to sell shares priced between $40 and $44 on the Nasdaq stock market, valuing the company at $15bn.

In its last financial year, ending in September 2025, Oura reported a pre-tax profit of $23.5m on $907.8m in sales. The company, founded in Finland in 2013 and headquartered in San Francisco, sells premium smart rings, priced at over $300, that monitor vital health data such as heart rate and sleep patterns. However, Oura faces a class action lawsuit alleging false advertising regarding the accuracy of sleep tracking.

The company maintains its scientific claims and emphasizes that the delay does not stem from the lawsuit.