Oura is pressing pause on its planned stock-market debut as shaky IPO conditions make the company rethink its timing.
The smart ring maker announced its Nasdaq plans only last week. It was preparing to raise as much as $2.2 billion by selling 50 million shares.
But on Tuesday, Oura said it would wait for a more favorable market environment, even as it sees strong investor demand.
The decision comes despite a stronger business. The company posted $1.4 billion in revenue and $59 million in net income between June 2025 and June 2026, according to a regulatory filing. The IPO market has also been booming, with companies raising $127 billion so far in 2026, a 400% increase from last year, according to The Wall Street Journal.
Oura expects fiscal 2026 revenue to increase 90% from the previous year.
The company has also expanded beyond sleep tracking, adding features for heart health, activity, stress, AI-powered insights, and broader wellness monitoring.
What happened?
CEO Tom Hale said going public remains part of Oura’s long-term plans, but the company can wait for better market conditions. ​The Iran war, which is driving oil prices higher, and the prospect of more Fed rate hikes are among the main reasons investors are on edge.
Oura’s move also highlights wider pressure on companies seeking to list. Rising government bond yields have pushed up borrowing costs and made investors more cautious about expensive new shares.
Earlier this month, nuclear technology company Holtec also withdrew its IPO, citing difficult market conditions.
Meanwhile, Anthropic is pressing ahead with its IPO, aiming for the $2 trillion valuation it reportedly expects next month.
But according to Reuters, the AI giant posted a $42 billion net loss last year as revenue rose to $4.6 billion, underscoring the gap between the AI boom and its bottom line.