diff --git a/.release-please-manifest.json b/.release-please-manifest.json
index 2276f3d..ba69c9c 100644
--- a/.release-please-manifest.json
+++ b/.release-please-manifest.json
@@ -1,3 +1,3 @@
 {
-  ".": "4.3.1"
+  ".": "4.3.2"
 }
diff --git a/CHANGELOG.md b/CHANGELOG.md
index 797dfd2..05c0840 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,12 @@
 # Changelog
 
+## [4.3.2](https://github.com/workos/authkit-nextjs/compare/v4.3.1...v4.3.2) (2026-08-17)
+
+
+### Bug Fixes
+
+* defer initial token refresh until first subscriber ([#467](https://github.com/workos/authkit-nextjs/issues/467)) ([587c5d7](https://github.com/workos/authkit-nextjs/commit/587c5d767e61902c08cd18933b8797f4517ef5ab))
+
 ## [4.3.1](https://github.com/workos/authkit-nextjs/compare/v4.3.0...v4.3.1) (2026-07-30)
 
 
diff --git a/package.json b/package.json
index 80dc389..134c452 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@workos-inc/authkit-nextjs",
-  "version": "4.3.1",
+  "version": "4.3.2",
   "description": "Authentication and session helpers for using WorkOS & AuthKit with Next.js",
   "packageManager": "pnpm@10.28.0",
   "sideEffects": false,