SAN FRANCISCO—Citing elevated stress and inadequate recovery, smart ring maker Oura postponed its initial public offering Tuesday after waking up to a Readiness Score of 41.
“Revenue is strong. We’re profitable. Investors are interested,” said a company spokesperson. “Unfortunately, none of those things improved the small orange circle.”
The company had intended to begin trading on Nasdaq but was advised to substitute a gentle walk for any strenuous financial activity. Employees were instructed to hydrate, avoid screens and refrain from realizing gains until their nervous systems had returned to baseline.
“We tell our members not to run a half-marathon on a 41,” the spokesperson added. “We’re not ringing a bell on one.”
The postponement followed several weeks of poor corporate sleep, during which Oura repeatedly woke up to check its valuation. Although executives reported spending eight hours in bed, the ring classified three of them as deep fundraising. The board subsequently approved a recovery plan consisting of breathwork, an earlier bedtime and placing the cap table in another room. Investors were asked to support the company’s health by not asking when it would be ready.
At press time, bankers claim Oura has raised its score to 83 in Adjusted Readiness Before Stress by deleting the IPO from its activity history.