Oura and Inspire Brands Consider IPOs

Wall Street’s IPO calendar is filling up again. U.S. companies have raised about $137 billion through traditional public offerings this year, putting 2026 within reach of the roughly $156 billion record set in 2021.

One of the next names could be Oura. The smart-ring company confidentially filed paperwork for a proposed IPO in May and is now weighing a market debut as soon as September or October. Its next valuation is expected to come in above the $11 billion level reached in its most recent funding round.

Oura has built its business around a wearable ring that tracks sleep, activity and other health data. Its possible listing would bring another consumer technology name to a market that has already welcomed companies from artificial intelligence, data centers and other high-growth industries this year.

Inspire Brands could follow with a very different kind of offering. The restaurant group behind Dunkin’, Arby’s and Buffalo Wild Wings is considering a public listing as soon as the end of 2026, although the timing could move into early 2027. Inspire finished 2025 with $33.4 billion in global system sales across more than 33,000 restaurants.

Dunkin’ has been through the public markets before. Inspire acquired Dunkin’ Brands for $11.3 billion in 2020, taking the company private as it expanded a restaurant portfolio that now includes six major brands.

Investor demand has remained strong enough to keep the IPO pipeline moving. Companies that have gone public this year are averaging gains of about 21% from their initial offering prices. If Oura and Inspire move ahead, they would add two recognizable consumer businesses to a market that is already having one of its busiest years on record.