Smart ring maker Oura postpones IPO due to market 'uncertainty'

Oura, a smart ring maker and health tracking company, has postponed its planned initial public offering (IPO) on Nasdaq due to uncertainty in the current IPO market, despite strong demand. The company, which is profitable and has experienced significant growth since initiating the IPO process, reported that consumer response to the Oura Ring 5, launched in May, has been exceptionally strong.

Oura now has 5.7 million paid members and expects annual revenue to grow by 90% year over year by the end of the 2026 fiscal year. CEO Tom Hale stated that an IPO is just one step in the company's journey to empower people to live healthier, longer lives. The company aims to deliver an extraordinary IPO for employees and investors, but they have the luxury of choosing the right moment.

A registration statement for the proposed offering was filed with the U.S. Securities and Exchange Commission, but it has not yet been declared effective. The company aimed to raise $2.2 billion in the U.S. IPO by offering 50 million shares priced at $40 to $44 per share.