Oura launches Ring 5, world's smallest smart ring, as it heads towards IPO

• The Ring 5 is 40% smaller than previous models with longer battery life, tracking sleep, stress, heart health, and readiness in a device designed to resemble jewelry rather than technology
• The smart ring market shipped 4 million devices in 2025, more than doubling annually for two years, though still small compared to 175 million smartwatches shipped in 2025
• Oura boasts 80% membership renewal after the first year and rings are worn an average of 23.5 hours daily, with new features including health radar warnings and GLP-1 weight loss drug tracking

Oura Ring 5 Launch Summary

Key Product Launch:

Finnish-American wearables company Oura has unveiled the Ring 5, marketed as the world's smallest smart ring at just 2.28mm thick. The device is 40% smaller than its predecessor with enhanced battery life, featuring health tracking capabilities for sleep, stress, heart health, and readiness metrics.

Pricing and Availability:

• Ring 5 priced at £399/€399/$399
• Ships June 4
• Requires £5.99/€5.99/$5.99 monthly subscription

Company Performance:

• Founded in 2013, Oura has sold 5.5 million rings across 150 countries
• Current valuation: $11 billion
• Approximately 5 million paying subscribers with 80% renewal rate after year one
• 1,200+ employees across offices in Helsinki, London, Los Angeles, San Diego, San Francisco, and Oulu
• IPO planned for later this year

Market Context:

The smart ring market shipped 4 million devices in 2025, doubling annually for two consecutive years, though still small compared to 175 million smartwatches shipped in 2025. Oura maintains a dominant market position with near-equal gender appeal among users, who wear the device an average 23.5 hours daily.

Strategic Expansion:

The company is expanding beyond fitness tracking into proactive healthcare, introducing features including health warnings for blood pressure and sleep breathing issues, plus GLP-1 weight loss medication tracking. Oura has secured 1,200+ partnerships with health, wellness, and sports organizations including the Finnish Olympics team and US Soccer.

Celebrity endorsements from Jennifer Aniston, Gwyneth Paltrow, Kim Kardashian, and Prince Harry have bolstered brand credibility.