Smart ring maker Oura says it is delaying its planned initial public offering (IPO) due to growing market uncertainty.
The health technology company that makes the Oura smart ring device said that, despite strong demand, it would postpone its debut on the Nasdaq (NDAQ) exchange “due to uncertainty in the IPO market.”
“We aim to deliver an extraordinary IPO for our employees and investors and we have the luxury of choosing our moment,” said Oura CEO Tom Hale in a company statement.
Many factors can impact sentiment for an IPO, including bond yields. When yields are high, equity valuations become compressed, dampening sentiment for companies going public.
Currently, yields on bonds, particularly U.S. government Treasurys, are rising, pressuring stocks and other risk assets.
All three of the major U.S. indices are down in September amid a broad market selloff that’s been caused by rising bond yields and crude oil prices.
San Francisco-based Oura was expected to hold a $2 billion U.S. IPO in October of this year. When the company will now go public isn’t known.
Oura’s ring is a health wearable device that monitors people’s vital signs, activity levels, and sleep patterns.
The company makes money from selling its rings and also earns continuous subscription revenue from people who want to track their health data.
The Oura ring tracks people’s sleep, heart rate, and other health metrics. The privately held company was last valued at $11 billion U.S. in a 2025 funding round.
