Allurion makes and sells the Allurion Smart Capsule, a swallowable intragastric balloon for weight loss. Unlike traditional intragastric balloons, the Smart Capsule requires no surgery, endoscopy, or anesthesia — a patient swallows the capsule during a roughly 15-minute outpatient visit, a physician fills it with fluid via a catheter, and about four months later, a patented valve dissolves and the deflated balloon passes naturally. Allurion sells the device as part of the Allurion Program, which bundles the balloon with a digital health platform (the Virtual Care Suite) including a connected scale, a mobile app with AI coaching, and a provider-facing remote monitoring dashboard. Allurion's customers are healthcare providers — bariatric surgeons, gastroenterologists, and obesity specialists — who offer the program to patients on a cash-pay basis. The business model is B2B2C, with nearly all revenue from device sales to providers; the balloon is a consumable, so revenue scales with procedure volumes. Allurion manufactures the capsule at its own facility in Natick, Massachusetts. The company has treated over 200,000 patients across more than 50 countries and received FDA approval in February 2026, making the U.S. launch the primary near-term growth driver. Allurion is also positioning the Smart Capsule as a complement to GLP-1 drugs, targeting patients who discontinue GLP-1 therapy. The company is currently unprofitable and executed major cost restructurings in 2025, including a roughly 65% headcount reduction.