Oura files for IPO as smart-ring rivals broaden the fight
Oura reported nearly doubled revenue of $1.21 billion as competitors pursue payments, haptic alerts, on-device processing and expanded health tracking.
Oura officially filed to go public on 3 September, placing its reported growth against an increasingly competitive smart-ring market. The Finnish company reported revenue of $1.21 billion for the nine months ended 30 June, nearly double the comparable period, according to TechCrunch.
Oura said it sold 3.6 million rings over the past year and has about five million paid members. The filing follows the launch of its Ring 5, which the company describes as its slimmest and lightest ring.
Competitors are targeting areas beyond the category’s traditional focus on sleep and health monitoring. Ultrahuman has raised $70 million with backing from Qualcomm’s venture arm and is developing software designed to run directly on the ring, while its $479 Ring Pro is expected to begin shipping in the US in mid-September.
Circular’s Ring 3 series, expected in early 2027, is planned to include contactless payments and on-finger vibrations for alarms, reminders and health alerts. The company says its Pro model will also include FDA-cleared ECG for AFib detection, alongside blood-pressure trend tracking, glucose tracking and advanced sleep analysis. Pricing has not been announced.
RingConn’s $349 Gen 3, launched in May, offers vascular-health insights, vibration alerts and tracking for metrics including heart rate, blood oxygen, sleep, activity and stress. Samsung’s $399 Galaxy Ring, launched in 2024, is aimed at users already invested in its device ecosystem, while Dreame has demonstrated a ring with haptic alerts and a touchpad for phone controls. Dreame has not announced pricing or availability.
