Oura Postpones $2.2B IPO Indefinitely, Citing Market Uncertainty

Oura has indefinitely postponed its up to $2.2 billion initial public offering, citing uncertainty in the IPO market. The company had filed to offer 55 million shares at a range of $40 to $44 each, which would have valued it at up to $15 billion at the mid-point of that range.

Despite the postponement, Oura said its latest product, the Oura Ring 5, has been received well in the market. The company now has 5.7 million paying members, up from 5 million at the end of June, and expects overall revenue to increase 90% in its 2026 financial year.

In October 2025, Oura was valued at about $11 billion when it raised $900 million in a round led by Fidelity, roughly double the $5.2 billion valuation it carried less than a year earlier. The company had revenue of $907.9 million in its most recent financial year, and its memberships carry an 89% gross margin, making up about 20% of sales in the latest period.

Forerunner Ventures was slated to sell all of its 9.3% stake in the IPO, which would have net it about $1.20 billion assuming the shares listed at the $42 mid-point. Oura intended to use most of the IPO proceeds to pay off tax obligations related to employee share grants that would have vested at the listing. The company had about $372 million in cash at the end of June.

The postponement was first reported by techcrunch.com.