Uncertainty clouds the US stock IPO market as smart ring manufacturer Oura (OURA.US) joins the ranks of delayed listings

According to Golden Ten Data, smart ring manufacturer Oura (OURA.US) has become the latest company to postpone its initial public offering (IPO) in the United States due to market uncertainty. The wearable technology startup and its shareholders had originally planned to raise up to $2.2 billion in a NASDAQ IPO. Previous reports indicated that its IPO had received approximately four times oversubscription.

Oura is so far the most notable company to delay its US listing. This trend has made the market cautious about Anthropic PBC's listing plans. The AI giant is targeting a $2 trillion IPO valuation, expected to be the largest IPO in global history. Nuclear services company Holtec Nuclear (HNUC.US) and Bamboo Insurance Services (BMB.US), backed by CVC Capital Partners, have also recently postponed their IPOs citing market conditions.

Oura's IPO was originally scheduled to be priced on Tuesday, when the company and shareholders including Forerunner Ventures and Lifeline Ventures would issue shares.

CEO Tom Hale said in a statement: “Our goal is to deliver an extraordinary IPO for our employees and investors, and we have the flexibility to choose our listing timing.”

Oura stated that since initiating the IPO process, the company’s business has further strengthened.

According to IPO offering terms announced by Oura last week, the company planned to issue 50 million shares in total, with 73% being existing shares, at a price range of $40 to $44 per share. Cornerstone investors Eli Lilly and Dragoneer Investment Group have expressed intentions to subscribe to $400 million, accounting for 19% of the total offering size.

Reportedly, Oura’s products include a ring-shaped sensor that tracks sleep, activity, stress, heart health, and women’s health, accompanied by an app that converts sensor readings into over 50 metrics and AI-generated health advice. In the first nine months of fiscal year 2026, hardware revenue accounted for 80%, with the remaining 20% coming from recurring member subscriptions, which unlock the full health insights suite.

Oura sells its products through direct sales and approximately 8,400 retail outlets, and reaches more members through employers, government agencies, and healthcare partners. As of June 30, 2026, the company had 5 million paying members across 56 global markets, a 100% year-on-year increase, with a 12-month paid membership retention rate of about 85%.