Smart ring maker Oura puts off initial public offering due to...

Oura Inc., the smart ring maker, is postponing its planned initial public offering due to “market uncertainty,” according to a Tuesday press release. The company said it is delaying the IPO “despite strong demand.” Research firm Renaissance Capital noted that the IPO market started the year well but weakened in the third quarter. It cited concerns about a potential slowdown in artificial intelligence spending, the Federal Reserve resuming rate hikes, and a surge in bond yields that would make borrowing more expensive. Oura’s revenue mainly comes from ring sales, with subscriptions providing the rest. The company reported 5.7 million paid members after launching the Oura Ring 5 and expects fiscal-year revenue ending Wednesday to grow by 90%.