Ultrahuman's US Comeback: A Risky Gamble Against Oura's Dominance

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AuthorKavya Nair|Published at:
Ultrahuman's US Comeback: A Risky Gamble Against Oura's Dominance
Overview

Ultrahuman is relaunching its smart ring business in the US with the Ring Pro, following US Customs approval. A prior US International Trade Commission ban, due to Oura Health's patent claims, cost Ultrahuman $50 million. The company faces a tough fight against Oura, which strengthened its market lead during Ultrahuman's import ban.

The Seamless Link

Ultrahuman's return to the U.S. marks a high-stakes effort to regain ground in the world's largest smart ring market. The clearance for its Ring Pro comes after its previous model, the Ring Air, was effectively barred from U.S. entry due to a patent dispute with rival Oura Health. This re-entry is a strategic move to navigate a competitive and legally complex market, aiming to regain share from a dominant player.

The Oura Gauntlet

The U.S. market is a key prize, accounting for about 60% of global smart ring sales, with over 2.6 million units sold in 2025. During Ultrahuman's enforced absence, Oura Health capitalized significantly, growing its market share from 63.3% to 85%. Oura, a pioneer in the category, has cultivated a premium brand image and holds an estimated 80% share of the dedicated ring segment. This dominance is further supported by its recent valuation of around $11 billion and $1.32 billion raised in funding. Ultrahuman, in comparison, has raised $103 million by March 2026, with its latest Series C round valuing it at an undisclosed amount. Ultrahuman's comeback success depends on its ability to challenge Oura's substantial lead.

Patent Scars and the Pro Pivot

The U.S. International Trade Commission's (ITC) final ruling, effective October 21, 2025, found Ultrahuman's Ring Air and RingConn devices violated Oura's patents, resulting in import bans. This ruling cost Ultrahuman an estimated $50 million in lost sales. Ultrahuman states its new Ring Pro features a redesigned unibody metal structure and enhanced on-device processing, designed to avoid the patent issues identified by the ITC. While the Ring Pro offers up to 15 days of battery life and improved processing, compared to Oura's Ring 4 which provides up to 7 days, its $479 price is notably higher than Oura's $349 starting price. Importantly, Ultrahuman’s offering is subscription-free, unlike Oura which requires a $5.99 monthly fee. The Ring Pro's redesign effectiveness in permanently resolving the patent dispute awaits market testing in the U.S.

India: A New Frontline

Adding another dimension to their rivalry, Oura has launched its Ring 4 in India, Ultrahuman's home market. Despite smart ring shipments in India declining 30.6% in 2025, Ultrahuman led this emerging market with a 30.4% share. Ultrahuman's CEO views the increased competition as a way to boost broader awareness of smart rings. Oura's strong international brand recognition presents a significant challenge in India, where previous local competitors have struggled to gain traction.

The Bear Case

Ultrahuman's US market re-entry faces significant risks. Oura's entrenched dominance, shown by its large market share and strong brand loyalty, creates a major obstacle. The ITC ruling highlights ongoing risks from patent litigation. While the Ring Pro is presented as a solution, Oura's history of aggressively protecting its intellectual property means further legal challenges remain possible. Ultrahuman's US market share fell from 24.6% to single digits during the import ban, and regaining that traction will demand substantial marketing investment and proven product reliability. Furthermore, the company's reliance on a single product launch for its US revival carries inherent risk. Oura’s premium pricing strategy, combined with its perceived superior accuracy and user-friendly interface for health data interpretation, continues to attract a wide consumer base. Ultrahuman’s CEO, Mohit Kumar, has experience scaling tech businesses, including roles at Zomato and as a co-founder of Roadrunnr, but applying that expertise to a complex, litigious hardware market is a major undertaking.

Future Outlook

The smart ring market is set for substantial growth, with projections indicating a global market size of $378.4 million in 2026, growing to $3.1 billion by 2035, driven by increasing health consciousness and technological advancements. Analysts expect continued double-digit growth in the U.S. and globally. Ultrahuman aims to re-establish its U.S. presence within the next five to six months. The company is also exploring new wearable devices beyond smart rings, suggesting a diversification strategy. However, its immediate future depends on successfully navigating the U.S. market and managing the intense competition from Oura Health.

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