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Smart ring maker Oura has decided to delay its initial public offering (IPO) that was set to begin trading on the Nasdaq. The company, known for its health-tracking rings, had planned to raise over $2 billion, valuing it at $15 billion. However, Oura cited market uncertainty as the reason for postponing the IPO, despite strong demand.
Oura's decision comes in the wake of rising interest rates and geopolitical tensions, which have created a challenging environment for new public offerings. The company had filed documents to offer shares priced between $40 and $44, but has now put these plans on hold. According to a BBC report, Oura's CEO, Tom Hale, stated that the IPO is just one step in the company's journey and they have the luxury of choosing the right moment.
The decision aligns with a broader trend of companies delaying IPOs due to unfavorable market conditions. Earlier this month, Holtec International, a US nuclear technology firm, also postponed its IPO citing similar concerns. The yield on US 10-year Treasury bonds recently hit its highest level since 2007, further impacting investor confidence.
Despite the delay, Oura's financial performance remains strong. The company reported $500 million in revenue in 2024, $1 billion in 2025, and is expected to reach nearly $2 billion this year. Oura, founded in Finland in 2013, now has its global headquarters in San Francisco and is facing a class action lawsuit over its product's accuracy claims. However, Oura maintains confidence in its technology and continues to stand by its claims.