Oura’s postponement of its planned IPO on September 29, citing market uncertainty despite strong demand, has driven the 83% implied probability of no listing before January 2027. The company had marketed 50 million shares at $40–$44, targeting a fully diluted valuation near $15.6 billion and implying a market cap in the $14–15.7 billion range, but volatile equity conditions, elevated Treasury yields, and shifting Fed rate expectations prompted the delay. Rapid business expansion, including 74% revenue growth to $1.21 billion in the first nine months of fiscal 2026 and paid membership projected to reach 5.7 million, supported the filing, yet heavy secondary selling by existing shareholders and broader IPO-market caution have kept near-term listing odds low. Traders are now focused on whether conditions stabilize ahead of potential 2027 timing.