Oura is going public, but these smart ring companies are coming for its crown
Oura's IPO filing reveals nearly doubled revenue to $1.21 billion and 5 million paid members. The smart ring market is heating up with competitors: Circular's ring supports tap-to-pay, RingConn added haptic vibrations, and Ultrahuman raised $70M to build a ring capable of running software directly. The article rounds up the most notable contenders looking to unseat Oura, noting a trend toward cramming smartphone-like features into rings.
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Oura's SEC filing shows revenue jumped from $697M to $1.2B year-over-year. The company has sold 3.6 million rings and has 5 million paid members with an 85% retention rate. Oura plans to expand beyond fitness tracking into health intelligence, leveraging its large biometric dataset for AI models. The company is seeking a $16B valuation.
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