Smart ring manufacturer Oura (NASDAQ: OURA) has become the latest company to postpone its initial public offering 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. Earlier reports indicated that its offering had already received approximately four times oversubscription. Oura stands out as the most high-profile company to date to delay its US listing.

This trend has made the market cautious about the listing plans of Anthropic PBC, an AI giant pursuing a $2 trillion IPO valuation that could become the largest IPO in global history.

Nuclear power services company Holtec Nuclear (NYSE: HNUC) and Bamboo Insurance Services (NYSE: BMB), backed by CVC Capital Partners, have also recently postponed their IPOs, citing market conditions.

Oura's IPO had been scheduled for pricing on Tuesday, at which point the company and shareholders including Forerunner Ventures and Lifeline Ventures would have issued shares. CEO Tom Hale said in a statement: "Our goal is to deliver an exceptional IPO for our employees and investors, and we have the luxury of choosing when to go public."

Oura stated that its business has strengthened further since the IPO process began. According to the IPO terms disclosed by Oura last week, the company planned to offer 50 million shares, 73% of which were existing shares, at a price range of $40 to $44 per share. Cornerstone investors Eli Lilly and Dragoneer Investment Group had indicated their intention to subscribe for $400 million, representing 19% of the offering size.

Oura's products include a finger-worn sensor ring that tracks sleep, activity, stress, heart health, and women's health, along with a companion app that converts sensor readings into more than 50 metrics and AI-generated health recommendations. In the first nine months of fiscal year 2026, hardware accounted for 80% of revenue, with the remaining 20% coming from recurring membership subscriptions that unlock the full suite of health insights.

Oura sells its products through direct-to-consumer channels and approximately 8,400 retail locations, reaching additional members through employers, government agencies, and healthcare partners. As of June 30, 2026, the company had 5 million paying members across 56 global markets, representing 100% year-over-year growth, with a 12-month paying member retention rate of approximately 85%.