This Popular Smart Ring Company Could Reach ‘Close to $2 Billion’ in Sales Next Year
One research firm estimates the company holds an 80% share of the global smart ring market.
Key Takeaways
- Oura CEO Tom Hale said on Tuesday that Oura Ring sales would move towards $2 billion next year.
- Oura has sold more than 5.5 million smart rings since its 2015 launch, with significant growth in the past year alone.
- Research firm IDC estimates that Oura holds 80% of the global smart ring market.
Smart ring maker Oura expects sales to move towards $2 billion next year, following two consecutive years of annual revenue growth, as demand for its smart rings grows.
Oura generated in revenue in 2024, more than double its 2023 revenue. The company expects to reach $1 billion in annual sales this year.
Oura CEO Tom Hale on Tuesday that introducing in August, including Pregnancy Insights and Perimenopause Check-In, enabled the company to expand. International growth also drove sales momentum, he said. Oura now serves customers in .
“I think a big part of that is just that we’ve really hit the market well with health features for women, we’ve expanded internationally, all these things are driving our growth,” Hale told CNBC.
Related: Why the CEO of Smart Ring Startup Oura Says Apple Won’t Make Its Own Version
Oura’s flagship product is the $349 , a smart ring that monitors health by tracking sleep, activity and vital signs like heart rate and body temperature. Access to advanced tracking, such as blood oxygen level and sleep analysis, requires a $5.99-per-month subscription to the accompanying app. Oura that it had nearly two million subscribers.
Oura has sold more than from the product’s launch in 2015 through September. Much of that growth has been in recent months, with over half of sales coming from the past year alone. Hale said that achieving the 5.5 million milestone was “a testament to the incredible demand for our product.”
According to from market research company Circana, smart ring sales grew 195% in the first nine months of the year compared to the same time last year, with U.S. smart ring revenue totalling $217 million for the year so far. Smart rings comprised 75% of total fitness tracker revenue this year, an increase from 46% a year ago.
“The small size and minimally intrusive nature of smart rings make them attractive alternatives to a smart watch or other wrist-worn fitness tracker,” , executive director, industry analyst, Consumer Technology at Circana, said in the report.
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Oura is a dominant player in the smart ring space. A published last year estimates that Oura holds more than 80% of the global smart ring market.
Last month, Oura in funding led by Fidelity Management & Research Company, which valued the smart ring maker at approximately $11 billion. The company plans to use the funding to introduce new health features, expand globally and explore AI and production innovation.
Key Takeaways
- Oura CEO Tom Hale said on Tuesday that Oura Ring sales would move towards $2 billion next year.
- Oura has sold more than 5.5 million smart rings since its 2015 launch, with significant growth in the past year alone.
- Research firm IDC estimates that Oura holds 80% of the global smart ring market.
Smart ring maker Oura expects sales to move towards $2 billion next year, following two consecutive years of annual revenue growth, as demand for its smart rings grows.
Oura generated in revenue in 2024, more than double its 2023 revenue. The company expects to reach $1 billion in annual sales this year.
Oura CEO Tom Hale on Tuesday that introducing in August, including Pregnancy Insights and Perimenopause Check-In, enabled the company to expand. International growth also drove sales momentum, he said. Oura now serves customers in .
