Oura (OURA Proposed), the maker of the Oura Ring, the world’s smallest smart ring, postponed its $2.1 billion IPO “despite strong demand, due to uncertainty in the IPO market,” the company said early today (Tuesday, Sept. 29, 2026). Oura’s IPO had been set to price tonight to trade tomorrow on the NASDAQ.
Oura’s decision marks the third big IPO postponement in recent weeks. following Holtec Nuclear (now withdrawn) and Bamboo Insurance.
“Our mission is to empower people to live healthier, longer, and an IPO is just one step in our journey,” Oura CEO Tom Hale said in a news release. “We aim to deliver an extraordinary IPO for our employees and investors and we have the luxury of choosing our moment. In the meantime, we will execute against the opportunities ahead.”
Valuation Concerns
Oura’s IPO had attracted initially strong demand, but the IPO pros said there were some concerns about its high valuation.
This was a huge IPO – 50 million shares at a price range of $40.00 to $44.00 to raise $2.1 billion, at mid-point pricing of $42.00. Selling stockholders were offering 36.5 million shares, with Oura offering only 13.5 million shares. The market cap was $13.5 billion – at mid-point pricing.
Goldman Sachs, Morgan Stanley, J.P. Morgan, Allen & Co. and Jefferies were set to lead the joint book-runners’ team, which included another 12 investment banks.
Robinhood , the co-manager, was expecting to make its Wall Street debut as an IPO underwriter.
Strong Revenue Growth Forecast
Oura, founded in 2013, is based in San Francisco. It maintains its EU headquarters in Oulu, Finland.
The company said today that “consumer response to Oura Ring 5 has been exceptionally strong, bringing the number of paid members to 5.7 million. For the fiscal year 2026, revenue is expected to grow 90 percent year over year.”
Oura is profitable: Net income of $59 million on revenue of $1.43 billion for the 12 months that ended on June 30, 2026, according to financial statements in the prospectus.
(For more information about this company, please check the IPO Calendar and the individual IPO Profile found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.