GoKawiil
Tech News
Smart-ring maker Oura revealed financial details as part of its move toward going public, showing it has become profitable. The company reported 74% revenue growth for the nine months ending in June compared with the prior year.
Circular unveiled its Series 3 smart ring at IFA, adding NFC payments compatible with Visa and MasterCard alongside a returning vibration motor for silent alerts. The lineup splits into the fully-featured Ring 3 Pro, with ECG and haptics, and the slimmer, lighter Ring 3 Slim that drops those features. Battery life nearly doubles to 12 days, and both models ship with a 700mAh charging case.
A class action lawsuit filed against Oura alleges the company misled consumers about how accurately its smart ring detects sleep stages, arguing it lacks sensors for brain waves, eye movement and other neurological signals needed to truly measure sleep. Plaintiff Madison Surber says she paid roughly $503 for the ring believing its tracking claims, and cites a Nature study suggesting the device's sleep-stage detection performs little better than random guessing.
A class action lawsuit filed against Oura claims the company misled consumers about the accuracy of its smart ring's sleep-stage tracking. The suit argues Oura lacks sensors for brain waves, eye movement, and muscle activity needed to properly detect sleep stages, and instead relies on AI guesswork from heart rate, temperature, and breathing data. The named plaintiff, who paid $503 for the ring, says she was overcharged for a device that doesn't deliver the accuracy Oura advertises.
Smart ring maker Oura is said to be planning a U.S. IPO as soon as next month, aiming to raise up to $3 billion at a valuation exceeding $16 billion, according to Bloomberg. That figure would nearly double the $10.9 billion valuation the company received in its September Series E round, with existing investors expected to sell a significant portion of shares in the offering.