Oura, the leader in the smart ring market, is planning international expansion as it continues to grow despite new competition, including Samsung's recent entry into the space.
CEO Tom Hale says that while big tech players entering the market might make waves, Oura has seen no negative impact. In fact, he believes such announcements help validate the category.
“It’s probably helpful,” Hale told CNBC in a recent interview at the Web Summit in Lisbon. "If anything, our business has gotten stronger since their announcement."
Arjun Kharpal wrote the original report, which was posted on cnbc.com on Thursday.
Founded in Finland in 2013, Oura has become a pioneer in the smart ring industry. Its flagship product, the Oura Ring 4, tracks health metrics like sleep quality and readiness for the day, using advanced sensors. With more than 2.5 million units sold, Oura is expected to hold nearly half of the market share in smart rings by the end of this year, according to CCS Insight.
Despite growing competition, including Samsung’s launch of the Galaxy Ring, Oura’s focus remains on health and science, positioning itself as a "healthcare company."
Hale emphasized that this approach differentiates Oura from tech companies that treat user data as a commodity. "Your data is sacrosanct," he explained, underscoring Oura's commitment to data privacy as a core value.
Oura’s business model is a blend of hardware sales and a subscription service, which provides users with insights from their ring for $5.99 per month.
The company has nearly 2 million subscribers, which Hale notes reflects a more software-oriented model than traditional hardware-based businesses.
Looking ahead, Oura is exploring new ways to enhance its offering. Hale revealed that the company is testing a nutrition feature, allowing users to log their meals by taking pictures within the Oura app. Additionally, Oura recently acquired Veri, a metabolic health startup. Veri's technology uses continuous glucose monitors to track blood sugar levels, giving users insights into how their meals affect their metabolism.
This, Hale says, will add another layer of personalized health data, helping users understand the impact of nutrition on their overall wellness.
As Oura pushes into new territories and continues to innovate, Hale’s long-term vision is clear: to make the Oura Ring a clinical-grade tool that provides comprehensive insights into personal health and wellness. The company is also seeking FDA approval to use the ring for diagnostic purposes, marking a significant step toward its ambition to merge health technology with daily life.
With new features and a clear focus on user privacy and healthcare, Oura is positioning itself for continued growth in the competitive wearable tech space.
