The good ring maker says it’s on observe to greater than double its annual income to $1 billion in 2025. Oura can be reportedly eyeing a mega-financing spherical that will worth it at a staggering $11 billion
It took Oura 11 years to promote its first 2.5 million rings and round one yr to promote the subsequent 2.5 million.
The good ring maker says it has offered greater than 5.5 million units since 2015, with over half of these bought prior to now yr. The corporate reported income of greater than $500 million in 2024, greater than double the prior yr and says it’s on observe to double once more in 2025, reaching $1 billion in annual income.
Oura additionally introduced a $250 million revolving credit score facility with JPMorgan Chase, Goldman Sachs, Financial institution of America, Barclays, Citi and Wells Fargo. The added liquidity will cowl working capital wants and progress initiatives, the corporate mentioned.
The wearable maker’s progress streak comes as the corporate is reportedly closing in on a brand new financing spherical that might elevate near $875 million and worth the enterprise at round $11 billion, in accordance with Bloomberg. The funding, anticipated to wrap this month, would give the wearable maker extra assets to spice up manufacturing, speed up product improvement and develop internationally.
“This milestone is a testomony to the unbelievable demand for our product, reflecting the worth we ship to Oura members and the staff’s dedication to relentless innovation, efficient advertising and considerate growth by retail and industrial partnerships,” Oura CEO Tom Hale mentioned.
However Oura’s progress isn’t occurring in a vacuum; it’s tied to the broader surge in good ring adoption.
In response to latest information from Circana, good rings now account for 75% of health tracker income, up from 46% a year ago, with consumers under 34 nearly twice as likely as average to own one. U.S. retail gross sales of health trackers are up 88% year-to-date in comparison with 2024, pushed largely by Gen Z and youthful Millennials selecting rings over wrist-worn units.
In August, Oura rolled out a redesigned Being pregnant Insights device and launched its first perimenopause function, part of a wider push into women’s health. The corporate has additionally expanded into metabolic well being and steady glucose monitoring.
The good ring maker can be increasing past shopper gross sales. Oura is investing in a new manufacturing facility in Fort Worth, Texas, to serve its largest enterprise buyer, america Division of Protection. The location is predicted to open in 2026.
Whereas Oura is scaling {hardware} gross sales previous 5.5 million items and projecting $1 billion in income, one in all its prime smart-ring rivals, Ultrahuman, has carved out a special milestone: profitability. The Bangalore, India-based firm reported $8.2 million in internet revenue on $64 million in working income, up 5.4 occasions year-over-year from $12 million in fiscal 2024.
“We’re centered on the long-term potential of constructing continuous health monitoring universally accessible,” Ultrahuman founder and CEO Mohit Kumar mentioned, including that “wearables can go far past wellness insights to ship medical-grade worth, all whereas constructing a lean, worthwhile enterprise.”
Oura and Ultrahuman have been concerned in a number of legal disputes over intellectual property associated to their good rings, which each observe well being metrics together with steps, sleep and stress.
