Oura’s planned September 2026 IPO, which targeted a $15.6 billion fully diluted valuation with a $40–$44 per share range and 50 million shares marketed, was postponed days before pricing due to IPO market uncertainty despite 3–4x coverage and cornerstone interest from investors including Dragoneer and Eli Lilly. The company remains in confidential SEC registration with no new timeline announced, citing flexibility to select its moment while reporting continued subscriber growth to six million paid members and 90 percent projected revenue growth for fiscal 2026. This timeline, combined with broader volatility in bond yields and equity sentiment, underpins the 93.5 percent market-implied probability of no IPO before January 2027. A swift stabilization in risk appetite or revised pricing could still accelerate a relaunch.