Oura is going public, but these smart ring companies are coming for its crown

The smart ring market is getting crowded, and Oura isn't waiting around to see what happens next: it officially filed to go public on September 3 .

The company is killing it right now. The Finnish outfit's revenue nearly doubled to $1.21 billion for the nine months ended June 30. Oura said it sold 3.6 million rings over the past year, and that it has around 5 million paid members. The company's move to go public follows the recent launch of the Oura Ring 5 , its slimmest and lightest ring yet.

But while Oura has largely dominated the smart ring market for years, rivals are emerging from all corners to dethrone it, each betting on a different angle. For example, French company Circular announced this week that its upcoming ring will allow users to tap to pay with their ring, while Chinese company RingConn debuted a ring this year that added haptic vibrations.

Indian company Ultrahuman separately announced this week that it raised $70 million with backing from Qualcomm's venture arm as it looks to build a ring that it says will be able to run software directly on the device and eventually power everything from AI interactions to games.

The race to beat Oura isn't just about enhanced health and sleep tracking anymore. It's now about seeing which company can cram the most smartphone-like features into a two-gram titanium band before someone ends up shipping a ring that lets you doomscroll TikTok or answer calls or do your taxes. I mean, we're already seeing smart rings with screens, like the Pebble Halo , although it's currently only available in India, as well as rings that promise touchpads, like the Dreame Ring .

The irony is that the initial appeal with smart rings was that they made technology and health tracking feel less intrusive than devices like smartwatches and smartphones, given you can step away from a screen while still keeping tabs on your health. With the way things are headed in the smart ring industry, though, we may just end up slipping mini smartphones on our fingers.

All of this is to say that the smart ring market is getting increasingly confusing, so we've rounded up the most notable contenders vying for Oura's crown.

Earlier this year, Ultrahuman unveiled its third-generation smart ring, the $479 Ring Pro , which is set to begin shipping in the U.S. in mid-September. Ultrahuman's U.S. business was disrupted in October 2025 after the U.S. International Trade Commission ruled in Oura's favor in a patent dispute. The ruling prevented the company from importing new ring inventory into the country, so Ultrahuman developed the Ring Pro with a redesigned form factor in order to circumvent Oura's patent.