Smart ring rivals intensify competition as Oura prepares for IPO

Oura has filed for an initial public offering, reporting revenue of $1.21 billion for the nine months ended June 30 and about 5 million paid members. Competitors are differentiating with features like tap-to-pay, haptic feedback, and on-device software, while some are adding screens and touchpads. The market is shifting from simple health tracking toward smartphone-like capabilities in a tiny form factor.