Oura’s indefinite postponement of its planned September 2026 IPO on September 29, citing market uncertainty despite four-times oversubscribed demand, has driven the 83.5% market-implied probability of no listing before January 2027. The filing targeted a $40–$44 price range for 50 million shares, implying a $14–$15.6 billion fully diluted market cap, up from the $11 billion valuation after its 2025 Series E round. Strong fundamentals, including projected 90% revenue growth and 5.7 million paid members for fiscal 2026, were outweighed by rising Treasury yields and IPO-market volatility. With the company profitable and under no immediate capital need, traders view any near-term relisting as unlikely, keeping smaller valuation buckets below 4% each.