Oura postponed its Nasdaq IPO hours before its shares were set to price on Tuesday, with trading originally planned for Wednesday. The company had set terms for 50 million shares at $40 to $44 each under the ticker OURA, a range that implied a fully diluted valuation near $15.6 billion. No new date has been set. Most of the raise was never headed to Oura's own balance sheet: of the 50 million shares in the offering, only 13.5 million were new stock issued by the company, and existing shareholders planned to sell the other 36.5 million. At the top of the range, that split would have put about $594 million into Oura's own accounts and roughly $1.6 billion into the pockets of people already holding shares.
Oura says demand for the offering was strong and points to market conditions for the delay rather than investor appetite. CEO Tom Hale said in a statement that the company has “the luxury of choosing our moment” and will keep executing on its plans in the meantime. The numbers behind that confidence: 5.7 million paid members, $1.21 billion in revenue over the nine months ended June 30, and $60.8 million in net income over the same period. Oura expects revenue to grow about 90% year over year in fiscal 2026, after $907.9 million in fiscal 2025. Its registration statement with the SEC has not been declared effective, so the sale has not taken place. The company was valued at roughly $11 billion after raising more than $900 million in funding last year.