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Oura postponed its proposed Nasdaq IPO on September 29, 2026, saying there was uncertainty in the IPO market despite what it described as strong demand. The company announced no replacement date. Its projected 90% revenue growth for fiscal 2026 is guidance, not a completed-year result.
Why did Oura postpone its IPO?
Oura said market uncertainty—not a lack of investor interest—led it to delay the offering. In its September 29 announcement, the company said it was postponing the IPO “despite strong demand” because of “uncertainty in the IPO market.” CEO Tom Hale said the company believed it could choose the timing and would continue pursuing its business opportunities.
Reuters reported that the decision came amid volatile markets, higher bond yields, concerns about rate hikes and geopolitical turmoil, as well as investor reassessment of AI infrastructure spending and valuations. Those are market conditions Reuters described; Oura did not identify any one of them as its specific reason. Reuters quoted Mergermarket equity-capital-markets head Samuel Kerr saying the IPO market had changed markedly in just a few weeks.
What were the proposed IPO terms?
Reuters reported that Oura and some existing investors had marketed 50 million shares at an indicated $40 to $44 each. At the top of that range, the offering could have raised $2.2 billion and implied a fully diluted valuation of $15.62 billion, according to Reuters. TechCrunch described the potential raise as up to $2.2 billion and the valuation as up to $15 billion.
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- THE WORLD’S SMALLEST SMART RING - 40% smaller than the previous generation, Oura Ring 5 is thinner, lighter and smaller than ever. The updated all-titanium design is more scratch-resistant and comfortable than ever
- SIZING IS ESSENTIAL - Oura Ring 5 uses unique sizing different from standard jewelry rings and other Oura Ring generations; use the Oura Ring 5 Sizing Kit to find your perfect fit before purchasing
- EVERYDAY HEALTH SENSING - Oura tracks over 50 health metrics, including sleep, activity, stress, heart health, metabolic health and women’s health metrics. Oura seamlessly integrates with over 40 apps including Natural Cycles, Strava, & more
- OURA MEMBERSHIP - First month of membership is included with purchase, for new members only. Subscription is 5.99/mo afterwards. Membership is tied to your account via the Oura App, not your physical ring
- REBUILT FOR GREATER ACCURACY - Oura Ring 5 has been re-engineered and reconfigured, providing more precise personal health data. Larger, smarter sensors bring research-grade accuracy—all in Oura’s smallest form factor yet
These were proposed terms, not a completed fundraising or a public-market valuation: the IPO did not take place. The valuation depended on the proposed share price and calculation basis, and the offering included shares marketed by Oura and existing investors. The registration statement had been filed but was not yet effective in the coverage reviewed.
What Oura’s growth figures do—and do not—show
Company guidance for fiscal 2026
Oura said it had 5.7 million paid members and expected fiscal 2026 revenue to grow 90% year over year. The membership count and growth outlook came from the company’s announcement. The 90% figure is a forecast; it should not be read as revenue growth already recorded for the full fiscal year.
Rank #2
- THE WORLD’S SMALLEST SMART RING - 40% smaller than the previous generation, Oura Ring 5 is thinner, lighter and smaller than ever. The updated all-titanium design is more scratch-resistant and comfortable than ever
- SIZING IS ESSENTIAL - Oura Ring 5 uses unique sizing different from standard jewelry rings and other Oura Ring generations; use the Oura Ring 5 Sizing Kit to find your perfect fit before purchasing
- EVERYDAY HEALTH SENSING - Oura tracks over 50 health metrics, including sleep, activity, stress, heart health, metabolic health and women’s health metrics. Oura seamlessly integrates with over 40 apps including Natural Cycles, Strava, & more
- OURA MEMBERSHIP - First month of membership is included with purchase, for new members only. Subscription is 5.99/mo afterwards. Membership is tied to your account via the Oura App, not your physical ring
- REBUILT FOR GREATER ACCURACY - Oura Ring 5 has been re-engineered and reconfigured, providing more precise personal health data. Larger, smarter sensors bring research-grade accuracy—all in Oura’s smallest form factor yet
Reported results for the nine months ended June 30, 2026
Wareable reported that Oura generated $1.2 billion in revenue and $70 million in pre-tax income in the nine months through June 30, 2026. It reported prior-year sales of $907.8 million; TechCrunch reported the prior-year revenue as $907.9 million. These are figures for the stated nine-month period and its comparison, not full-year results. The small difference in the prior-year number reflects how the outlets reported it.
Subscriptions alongside ring sales
TechCrunch reported that memberships had an 89% gross margin and made up about 20% of sales in the latest period it covered, with hardware still accounting for most revenue. That mix helps explain Oura’s business model: ring sales remain central, while paid memberships add recurring revenue at a reported higher margin. The membership figures are reported company data, not an independently calculated estimate.
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Rank #3
- THE WORLD’S SMALLEST SMART RING - 40% smaller than the previous generation, Oura Ring 5 is thinner, lighter and smaller than ever. The updated all-titanium design is more scratch-resistant and comfortable than ever
- SIZING IS ESSENTIAL - Oura Ring 5 uses unique sizing different from standard jewelry rings and other Oura Ring generations; use the Oura Ring 5 Sizing Kit to find your perfect fit before purchasing
- EVERYDAY HEALTH SENSING - Oura tracks over 50 health metrics, including sleep, activity, stress, heart health, metabolic health and women’s health metrics. Oura seamlessly integrates with over 40 apps including Natural Cycles, Strava, & more
- OURA MEMBERSHIP - First month of membership is included with purchase, for new members only. Subscription is 5.99/mo afterwards. Membership is tied to your account via the Oura App, not your physical ring
- REBUILT FOR GREATER ACCURACY - Oura Ring 5 has been re-engineered and reconfigured, providing more precise personal health data. Larger, smarter sensors bring research-grade accuracy—all in Oura’s smallest form factor yet
When will Oura go public?
Oura did not announce a new IPO date in its statement, and the reviewed coverage reported no replacement timetable. The company described a postponement, not a permanent cancellation, so the timing of any future offering remains unknown.
Quick Recap
Best Value
- 【Size Before You Buy】Before purchasing the Milavan Smart Ring, we recommend referring to the size chart and carefully measuring your finger circumference. This helps ensure a comfortable fit and avoid unnecessary returns or exchanges
- 【Wellness Tracking】The slim ring features advanced 4.0 sensors that automatically track your heart rate every 30 minutes while worn. Daily data is available in the app for reference only and is not intended for medical use
- 【Intelligent Sleep Tracker】The fitness ring automatically tracks your sleep quality, including deep and light sleep, REM (eye movement), and awake periods. You can view all sleep data anytime in the app for daily reference
- 【8 Sports Modes Tracking】Supports 8 sports modes, including Running, Cycling, Jump Rope, Walking, Hiking, Yoga, Dancing, and Golf. View workout duration, steps, heart rate, speed, calories burned, distance, and other activity data in the app
- 【Stylish Fitness Companion】Featuring a slim 2mm profile and a specially polished inner surface, this smart ring is designed for comfortable all-day wear and most sports activities. View detailed workout data in the app after selecting a sport mode
Rank #4
- SIZE BEFORE YOU BUY - It’s important to size yourself using our Oura Ring 5 Sizing Kit before purchasing an Oura Ring 5. Oura Ring 5 sizes are different from standard ring sizes and Oura Ring 4 sizes
- AVAILABLE SIZES - Oura Ring 5 is available in sizes 6-13. There are no half sizes
- CHOOSE A FINGER - Oura Ring 5 works on all fingers and can be worn on either hand. For optimal accuracy, we recommend wearing your Oura Ring 5 on your index, middle, or ring finger. Size the exact finger you plan to wear your Oura Ring on
- CHOOSE A FINGER - Oura Ring 5 works on all fingers and can be worn on either hand. For optimal accuracy, we recommend wearing your Oura Ring 5 on your index, middle, or ring finger. Size the exact finger you plan to wear your Oura Ring on
- COMFORT AND ACCURACY - A properly fitting Oura Ring 5 will result in the highest data accuracy, comfort, and overall experience
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
