Smart-ring maker Oura has postponed its up to $2.2 billion IPO indefinitely, citing 'uncertainty in the IPO market'. The company, which had filed to offer 55 million shares at $40 to $44 each, did not provide additional details. At the mid-point of that range the listing would have valued Oura at up to $15 billion.
'Our mission is to empower people to live healthier, longer, 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,' CEO Tom Hale said in a statement. 'In the meantime, we will execute against the opportunities ahead.'
Oura's business, by its own account, is doing well. The company says its latest product, the Oura Ring 5, has been received well and that it now has 5.7 million paying members, up from 5 million at the end of June. It expects overall revenue to grow 90 percent in its 2026 financial year, after revenue of $907.9 million a year earlier.
The postponement nevertheless delays plans tied to the proceeds. Early investor Forerunner Ventures had been slated to sell its entire 9.3 percent stake, which would have netted it about $1.20 billion at the $42 mid-point. Oura itself intended to use most of the IPO proceeds to pay tax obligations on employee share grants that would have vested at listing, and any shareholders looking for liquidity now have to wait.
