So how does this make you distinct from the crowd? Well, the thing about the Oring four is that it's slimmer, sleeker, thinner, better, of course. And the feel of the ring is what matters to many people, because there's a lot of technology packed in here. You want it to be small and compact. Maybe more importantly, we've taken a big leap forward in sensing with something we call smart sensing. And smart sensing adjusts dynamically to your body because not everyone's the same. Your anatomy is not the same, your physiology is not the same, your skin color is not the same. And we adjust dynamically. Even as you rotate the ring a little bit, we actually are able to keep the most accurate signal. Tom, who do you consider to be the competition for this ring? Is it other rings or is it other form factors? A device? I think a lot about watches at the

moment, particularly having just been to Apple's event in recent weeks. What's interesting to me is that amongst our users, almost two-thirds wear a second wearable, usually a smartwatch on the smartwatch. Great. For daytime notifications. You're getting alerts all the time, but has an Achilles heel, which is battery life. And the ring is something that doesn't ask for your attention, doesn't send you notifications. It's just in the background seamlessly fitting into your life, capturing your physiology so that you don't have to pay like a ton of attention to it. And as a result, you have an eight-day battery life with the o.R. Four ring. And so what that's really interesting to think about is that you just don't have to worry about your health as much, and therefore the watch and the ring can be compatible. So in many ways, like we find these things to be two devices that can work

together on one person's body. And what's interesting is you've been working with other companies that make other devices. We understand from Mark Gurman reporting that you've been working alongside Meters Ray-Ban team, for example. How do you see integration with other businesses going? Well, we've got so many great partners that we work with. We haven't announced anything formally with matter. But you can imagine this world where you have this cloud of devices on your body that you're using in different contexts. Maybe it's headphones, maybe it's glasses with an AI assistant. And how does your physiological state and something that you've got on your body all the time work maybe as a controller, maybe as a way to guide, maybe as a way to provide input, maybe as a way to give your other wearables a sense of whether you're stressed or whether you're well-rested, whether you're ready. There's a lot of really interesting

opportunities to explore when you think about a permanently worn device that's oriented around your health, that's on your body. 24 seven. Tom, we've just shown your latest financials and the trajectory of this company. Your focus this point is been technology and innovation. But where do you see this company going from here, that direction for the business? Yeah, I mean, I think there's a lot of headroom for us to grow just simply in the ring category. Rings are new. People are just learning about the benefits of long term health tracking, learning about the benefits of getting sleep, learning about the understanding of their body. So, you know, the way the brain works is can tell you when you're getting sick, it can tell you when you're doing well. It gives you lots of information and lots of insights, even an eye coach that helps you make behavior changes. And I think there's a lot of headroom just in that category.

But as you look beyond that, not only is it interaction with other devices, but it might be potentially other devices that you might see. Like we've seen prototypes for a locket that sits on your chest. We've seen prototypes for things that look more like designer rings. We introduced a product with Gucci a couple of years back where we have something that looks much more like jewelry and much more like, you know, much less like a piece of technology. And it really fits into your life. So I think the future is very bright for rings. Lots of headroom for us to grow this business. But more importantly, I think people being aware of their health and understanding how to manage their health is just a really big opportunity. Everybody on the planet should have one of these things.

Oura Launches More Accurate Ring, Faces Competition

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