The chief executive of Finland's Oura told CNBC on Tuesday that he expects the wearable tech company to generate close to $2 billion in sales next year.
The smart ring maker has upped its forecast as it invests in artificial intelligence and international expansion, hot on the heels of a $900 million funding round in October.
Oura is on track to secure $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 is "certainly going to be a lot more," Hale said in an exclusive interview. "I don't know if we know exactly how much but, it'll be north, maybe close to $2 billion."
It represents a sharp increase from a previously reported sales forecast of over $1.5 billion, setting Oura up to nearly double sales for a second year running.
"I think a big part of that is just that we've really hit the market well with health features for women, we've expanded internationally, all these things are driving our growth," Hale said.