Oura Inc, the smart ring manufacturer, has announced it is postponing its planned initial public offering due to market "uncertainty", despite the company experiencing strong demand for its products. The IPO market started 2026 positively but deteriorated in the third quarter, with concerns about potential artificial intelligence spending slowdowns, the Federal Reserve's rate hikes and rising bond yields all contributing to the challenging conditions.

Oura's customers use the ring to track their health metrics, including sleep patterns and fitness activity, with the company generating revenue primarily from ring sales and subscription services. The company had considerable momentum heading into the IPO: the Oura Ring 5's launch boosted paid members to 5.7 million and the company expects approximately 90% revenue growth for the fiscal year ending Wednesday. The company had planned to sell 50 million shares at between $40 and $44 per share, with nearly three-quarters coming from existing shareholders, which would have valued the company at $13.5 billion at the midpoint of the pricing range.