What the $40.00 to $44.00 Range Meant
Oura's September 21, 2026 filings set an expected IPO price range of $40.00 to $44.00 per share for 50,000,000 shares, 13,500,000 from Oura and 36,500,000 from existing stockholders, plus a 7,500,000 share underwriter option from selling stockholders, not Oura (Form S-1/A and Issuer Free Writing Prospectus, September 21, 2026). Oura applied to list the shares on the Nasdaq Global Select Market under the ticker OURA (Issuer Free Writing Prospectus, September 21, 2026).
The range was not itself a price: the IPO price was to be negotiated between Oura and its underwriting syndicate, led by Goldman Sachs, Morgan Stanley, J.P. Morgan, Allen and Company, and Jefferies, based on investor demand gathered during the roadshow that began the week of September 21, 2026 (Issuer Free Writing Prospectus, September 21, 2026). At the top of the range the deal would have raised about $2.2 billion at a fully diluted valuation of about $15.62 billion (Reuters, September 29, 2026), and Bloomberg put the basic market value at the top of the range at about $14.1 billion (Bloomberg, September 25, 2026). Because Oura postponed before pricing, no IPO price was set (Reuters, September 29, 2026).
Oura's Form S-1/A reported revenue of $1,214.5 million for the nine months ended June 30, 2026, up 74 percent year over year, and 5.0 million paid members (Form S-1/A, September 21, 2026). On September 29, Oura said it is profitable and expects fiscal 2026 revenue to grow about 90 percent year over year (CNBC, September 29, 2026; Reuters, September 29, 2026), and that paid members reached 5.7 million after the Oura Ring 5 launch (Reuters, September 29, 2026).
What Happened on September 29
Oura had been expected to price the offering later on Tuesday, September 29, 2026 and begin trading on Nasdaq on Wednesday, September 30 (Reuters, September 29, 2026). Its Form S-1/A also disclosed non-binding indications of interest from Eli Lilly and Company and funds affiliated with Dragoneer Investment Group to buy up to $100 million and $300 million of shares respectively at the IPO price (Form S-1/A, September 21, 2026).
Instead, Oura postponed the IPO, citing uncertainty in the IPO market, and said the delay came despite "strong demand" and a strengthening of its business since the start of the IPO process (CNBC, September 29, 2026). CEO Tom Hale said: "We aim to deliver an extraordinary IPO for our employees and investors and we have the luxury of choosing our moment. In the meantime, we will execute against the opportunities ahead" (CNBC, September 29, 2026; Reuters, September 29, 2026; Axios, September 29, 2026).
Press reports add detail that did not come from Oura. Reports indicated the order book was about four times oversubscribed (Reuters, September 29, 2026), and a source told Axios the offering was about five times oversubscribed but that Oura could not get the price it wanted amid bond yield and oil price volatility (Axios, September 29, 2026). Oura was not alone: Reuters reported that Holtec suspended its IPO and Bamboo Insurance delayed its listing, also in September 2026 (Reuters, September 29, 2026).
Where a Price Would Appear
Oura has not announced a new IPO date (CNBC, September 29, 2026; Reuters, September 29, 2026), and Segmara does not predict one. Oura's S-1 and its September 21, 2026 amendment remain on file with the SEC, with no withdrawal filed (SEC EDGAR, checked September 30, 2026).
If Oura revives the listing, the first signs would be a relaunch announcement or an amended filing on SEC EDGAR, which may carry a different range or share count than the September terms. The IPO price would then be set at pricing, and a market price would exist only once shares begin trading, at which point it would show on Nasdaq and on brokerage platforms. Fidelity's IPO guidance states new shares generally begin trading on the secondary market the day after pricing, often between 10:00 AM and 2:00 PM ET, not at the regular market open, because underwriters must finish allocating shares first.
Until then, any figure presented as an Oura stock price is not an exchange price. Segmara is a research site: it does not sell, broker, or arrange purchases of Oura shares, and nothing on this page is investment advice.