Oura has postponed its planned $2.2 billion IPO, citing uncertainty in the current initial public offering market. The smart ring maker had planned to offer 55 million shares at a price between $40 and $44 per share.
The proposed Oura IPO could have valued the company at around $15 billion at the midpoint of the price range. However, Oura has not announced a new date for the public offering.
Why Did Oura Postpone Its IPO?
Oura said it decided to delay the IPO because of uncertainty in the IPO market. The company did not provide further details about when it could return to the public markets.
Oura CEO Tom Hale said the company has the flexibility to decide when the IPO should take place.
“Our mission is to empower people to live healthier, longer, and an IPO is just one step in our journey.”
Hale added:
“We aim to deliver an extraordinary IPO for our employees and investors and we have the luxury of choosing our moment.”
The company said it will continue focusing on its business while waiting for the right opportunity to complete the IPO.
Oura Continues to Report Growth
The Oura Ring 5 has received a positive response from customers, according to the company. Oura now has 5.7 million paying members, compared with 5 million at the end of June.
Oura also expects its revenue to increase by 90% in its 2026 financial year compared with the previous year. The company previously reported $907.9 million in annual revenue.
The growth comes as demand for wearable health technology continues to develop, with Oura focusing on sleep, recovery and health tracking through its smart rings.
Oura IPO Would Give Investors Liquidity
The postponed Oura IPO was also expected to provide an opportunity for existing shareholders to sell their holdings.
Forerunner Ventures, an early Oura investor, planned to sell its entire 9.3% stake in the IPO. At the proposed midpoint price of $42 per share, the stake could have generated around $1.2 billion.
Oura also planned to use most of the IPO proceeds to cover tax obligations linked to employee share grants.
What Happens Next for Oura?
The Oura IPO is now postponed indefinitely, with no new listing date announced. The company will continue to focus on growing its membership base, expanding its products and increasing revenue while monitoring conditions in the IPO market.
For investors, the delay means they will have to wait for another opportunity to buy Oura shares on the public market.
