Oura, the dominant player in the global smart ring market, is poised for explosive growth, with CEO Tom Hale announcing that the company expects to double its sales and reach nearly $2 billion in revenue next year. This projection comes on the heels of remarkable performance in 2024, when Oura generated over $500 million in revenue—more than double its 2023 figures. The company is on track to surpass $1 billion in annual sales this year, cementing its position as a market leader in wearable health technology.
Women’s Health Features Drive Expansion
The surge in demand stems largely from strategic product innovations introduced in August, including Pregnancy Insights and Perimenopause Check-In features designed specifically for women’s health tracking. These additions have significantly expanded Oura’s addressable market. Combined with aggressive international growth across more than 150 countries, the company has captured unprecedented market momentum. CEO Hale emphasized that these health-focused features have resonated strongly with consumers seeking personalized wellness solutions.
Market Dominance and Financial Achievement
Oura’s dominance is quantifiable: research firm IDC estimates the company holds over 80% of the global smart ring market. The company has sold more than 5.5 million smart rings since launching in 2015, with over half of those sales occurring in the past year alone. Supporting this growth trajectory, Oura recently secured $900 million in funding led by Fidelity Management & Research Company, valuing the smart ring maker at approximately $11 billion. The company plans to leverage this capital for new health features, global expansion, and artificial intelligence innovation.