Smart ring maker Oura expects close to $2 billion in 2026 sales: CEO
Ring of Oura 4.
Courtesy: Oura
The chief executive of Finland’s Oura told CNBC on Tuesday that the wearable technology company could generate close to $2 billion in sales next year.
The smart ring maker raised its forecast as it invests in artificial intelligence and international expansion following a $900 million funding round in October.
Oura is on track to achieve $1 billion in sales in 2025, doubling its 2024 revenue, CEO Tom Hale told CNBC’s Arjun Kharpal from Web Summit in Lisbon, Portugal.
Next year, “there will definitely be a lot more,” Hale said in an exclusive interview. “I don’t know if we know exactly how much it is, but it could be in the north, maybe closer to $2 billion.”
Oura’s official forecast for 2026 is around $1.5 billion in sales. If it reaches $2 billion, it would mean sales nearly doubling for the second year in a row.
“I think a big part of that is we’ve had a really good penetration into the market with women’s health features, we’ve expanded internationally, and all of that is driving our growth,” Hale said.
Finnish company with a value of 11 billion dollars, Over 5.5 million of our Oura Rings have been sold through September since the product was launched in 2015. Oura says it has sold more than 2.5 million rings since June 2024.
Hale said Oura has been “a company that’s been pushing AI forward from the beginning,” but he’s even more optimistic about the company’s future adoption of AI as it considers a number of preventative healthcare features.
“One of the things Oura does particularly well is that it generates information for you (basically text) to help you understand your metrics,” he said. The company uses artificial intelligence to turn these data points into advice and coaching. Hale added that the company also has its own chatbot, Oura Advisor, which can ask questions like “the doctor in your pocket.”
Oura in 2022 formed a partnership With Natural Cycles, an FDA-approved birth control app, to add fertility features to their offerings. It launched glucose tracking earlier this year. through partnership with Dexcom and in October announced blood pressure research.
“One of the things we really believe in is that we can kind of be like a guardian angel, right, that’s always there for you and starts giving you these predictions about your long-term health,” Hale said.
Despite Oura’s ambitions, “there is no news on an IPO,” he added.
— CNBC’s Arjun Kharpal contributed to this report
