Health wearable maker Oura launched its newest device, unveiling Oura Ring Generation 3.
Expanding its offering and bolstering its business model, the company also introduced a monthly membership.
A Smarter Ring
Billed as smarter and more comprehensive than ever, the Gen3 ring is packed with new health-tracking tech.
Form and function. A sleek, ultralight device weighing just four grams, the upgraded ring packs 3x the number of sensors and 32x the memory of its predecessor into less than one centimeter of space.
New and coming soon. Delivering a list of enhanced capabilities, the ring enables minute-by-minute temperature tracking, daytime and workout heart rate monitoring, blood oxygen (SpO2) sensing, women’s health capabilities like period prediction, and improved sleep staging.
Of note, some features will be available at launch, with others becoming available in late 2021/early 2022. As for the ring, it’s available for pre-order and will begin shipping in mid-November.
Monthly membership. An added benefit, the newly introduced Oura Membership includes daily health insights, personalized recommendations, and audio/video content within the Oura app.
With a $5.99/month subscription, the company adds recurring revenue to the one-off purchase of its $299 smart ring — addressing a challenge, and untapped opportunity, we pointed out in Issue No. 113:
“Oura’s business model also poses a hurdle. As it stands, the company’s standard ring costs $299. A one-time purchase, the hardware maker has yet to introduce a subscription that would lock in customers and establish a recurring revenue stream.”
Although Oura’s form factor distinguishes it from the growing list of wrist-worn competitors, the category is becoming increasingly crowded.
- Apple Watch owns 52.5% of the global smartwatch market.
- WHOOP raised $200M this summer and entered smart apparel.
- Withings received two FDA approvals for its ScanWatch.
- Amazon unveiled a new Fitbit-like health tracker.
Punchline: As the billion-dollar category for fitness wearables intersects with the trillion-dollar opportunity in healthcare, the focus is shifting from activity tracking to health monitoring. With $100M in new funding secured earlier this year, and its first-ever CMO—ex-Peloton marketer Karina Kogan—in place, Oura is racing to put a ring on high-performers and everyday health seekers.