key takeaways
- Oura CEO Tom Hale predicted Tuesday that Oura Ring sales will double next year to near $2 billion.
- Aura has sold more than 5.5 million smart rings since its launch in 2015, with significant growth in the last year alone.
- Research firm IDC estimates that Oura has an 80% share of the global smart ring market.
Smart ring maker Ora expects sales to double to close to $2 billion next year after two consecutive years of annual revenue growth, as demand for its smart rings grows.
Ora was born over $500 million In revenue in 2024, more than double the revenue in 2023. The company expects annual sales to reach $1 billion this year and sales to increase to $2 billion next year.
Ora CEO Tom Hale told cnbc That introduction on Tuesday New features for women’s health In August, the company was able to expand, including pregnancy insights and perimenopause check-ins. International growth also boosted sales momentum, he said. Ora now serves customers more than 150 countries,
“I think a big part of it is just that we’ve had a good hold on the market with women’s healthcare, we’ve expanded internationally, all of those things are driving our growth,” Hale told CNBC.
Connected: The CEO of smart ring startup Ora says Apple won’t make its own version
Ora’s flagship product is $349 ora ringA smart ring that monitors health by tracking sleep, activity, and vital signs like heart rate and body temperature. Access to advanced tracking, such as blood oxygen levels and sleep analysis, requires a $5.99 per month subscription to the accompanying app. aura said last year It had approximately two million subscribers.
outsold ora 5.5 million smart rings From the launch of the product in September 2015. Most of this growth has occurred in recent months, with more than half of the sales coming in the last year alone. Hale said in a press release Reaching the $5.5 million milestone is “a testament to the incredible demand for our product.”
according to recent data From market research company Circana, smart ring sales have increased 195% in the first nine months of the year compared to the same period last year, with US smart ring revenue totaling $217 million so far this year. Smart rings accounted for 75% of total fitness tracker revenue this year, up from 46% a year ago.
“The small size and minimally intrusive nature of smart rings make them an attractive alternative to a smart watch or other wrist-worn fitness tracker,” ben arnoldindustry analyst, executive director of consumer technology at Circana, said in the report.
Connected: Samsung’s latest Galaxy gadget aims to ‘see how productive you can be’
Ora is a major player in the smart ring sector. A Report of market research firm IDC Oura has more than 80% of the global smart ring market, according to estimates published last year.
Last month, Ora raised $900 million The funding was led by Fidelity Management & Research Co., which valued the smart ring maker at about $11 billion. The company plans to use the funding to introduce new healthcare features, expand globally, and explore AI and production innovation.
key takeaways
- Oura CEO Tom Hale predicted Tuesday that Oura Ring sales will double next year to near $2 billion.
- Aura has sold more than 5.5 million smart rings since its launch in 2015, with significant growth in the last year alone.
- Research firm IDC estimates that Oura has an 80% share of the global smart ring market.
Smart ring maker Ora expects sales to double to close to $2 billion next year after two consecutive years of annual revenue growth, as demand for its smart rings grows.
Ora was born over $500 million In revenue in 2024, more than double the revenue in 2023. The company expects annual sales to reach $1 billion this year and sales to grow to $2 billion next year.
The remainder of this article is locked.
Connect with Entrepreneur, For access today.
