Oura postpones Nasdaq debut amid widening IPO market doubts

Oura, the Finnish-based maker of health-tracking smart rings, withdrew its planned Nasdaq IPO on the day it was to go public, with CEO Tom Hale attributing the move to lingering market uncertainty. The postponement adds to a recent string of delays by companies like Holtec Nuclear and Bamboo Insurance, reflecting wider investor unease over volatile oil prices and inflation tied to the conflict with Iran. Oura had filed its registration earlier this month and had indicated strong demand from investors.

The company disclosed that revenue for the nine-month period through June reached $1.21 billion, a 74% increase from the prior year, and that net profit rose to $60.8 million on a base of 5.7 million paying members. Founded in 2013, Oura counts major sports leagues and the U.S. Defense Department among its partners. No new listing date was provided.