Oura has delayed its Nasdaq IPO, which had targeted $2.2 billion in proceeds from 50 million shares, citing market uncertainty and investor pressure for wider discounts.
The company, founded in 2015, is profitable and projects 90 percent revenue growth for fiscal 2026. CEO Tom Hale said, "An IPO is just one step in our journey. We aim to deliver an extraordinary IPO for our employees and investors and we have the luxury of choosing our moment."
The postponement reflects a broader pullback in U.S. IPO activity. Holtec Nuclear withdrew its offering earlier this month, citing adverse market sentiment.
The core issue: rising interest rates have increased the weighted average cost of capital (WACC), making public investors demand steeper discounts to compensate for pressure on future earnings multiples. Central banks in the U.S. EU and Japan have raised benchmark rates, lifting sovereign debt yields and making equity investors more cautious about valuation expansion.
