Oura Unveils Ultra-Thin Ring 5 Ahead of Expected IPO Push- Smart ring maker Oura has introduced its latest wearable device, the Ring 5, as the company looks to strengthen its position in the rapidly growing smart ring market ahead of a widely anticipated IPO later this year.
The Finnish-American health tech company says the new device is the smallest smart ring ever produced, combining advanced health-tracking technology with a slimmer and more refined design aimed at mainstream consumers.
According to Oura, the Ring 5 is around 40% smaller than the previous Ring 4 generation while also offering improved battery performance. At just 2.28mm thick, the wearable is designed to deliver the capabilities of a fitness tracker or smartwatch in a form that resembles ordinary jewellery rather than traditional tech hardware.
The company has focused the new device on health monitoring features related to sleep quality, stress management, recovery readiness, and heart health, areas that have become central to Oura’s brand identity over the years.
Holly Shelton, Oura’s chief product officer, described the Ring 5 as the company’s most advanced wearable so far, emphasizing both its smaller form factor and expanded capabilities.
The Ring 5 will start at £399 (€399/$399/A$649) and is scheduled to begin shipping on 4 June. Like previous Oura products, the device also requires a monthly membership subscription priced at £5.99 (€5.99/$5.99/A$9.99) to unlock the full suite of health insights and analytics.
Oura hopes the slimmer design will help attract users who may have previously avoided wearables because of bulky smartwatches or overly tech-focused aesthetics. The company is positioning the Ring 5 as a more subtle alternative for consumers interested in health tracking without wearing a visible smartwatch throughout the day.
Founded in Oulu, Finland, in 2013, Oura has become one of the pioneers of the smart ring category. While the wearable market remains heavily dominated by smartwatches, smart rings have rapidly gained traction over the past few years.
Industry data from analysts at CCS Insight estimates that around 4 million smart rings were shipped globally in 2025, with the category more than doubling in size in each of the last two years. Although that figure remains significantly smaller than the estimated 175 million smartwatches shipped during the same period, demand for compact health-focused wearables continues to rise.
Unlike smartwatches, smart rings appeal to a broader mix of consumers, including traditional watch wearers and people who prefer not to wear watches at all. Research also suggests the category has developed a relatively balanced gender split compared with some other wearable devices.
Oura’s growth story began with its first-generation smart ring launched through Kickstarter in 2015, where the company raised more than $650,000 in crowdfunding support. Founded by former Nokia and Polar engineers Petteri Lahtela, Markku Koskela, and Kari Kivela, the startup gradually evolved from a niche wellness gadget company into one of the most recognizable brands in wearable health technology.
Since launching its first device, Oura says it has sold approximately 5.5 million smart rings across more than 150 countries through four product generations.
The company has also built a strong subscription business around its devices. Oura reportedly now has around 5 million paying subscribers, while revenue has increased fourfold over the past two years, reaching approximately $1 billion in 2025.
That rapid growth has pushed Oura’s valuation to around $11 billion ahead of its expected stock market debut later this year.
While originally rooted in Finland, Oura has expanded into a global business with offices in Helsinki, London, Los Angeles, San Diego, San Francisco, and Oulu. The company continues to conduct much of its research and development work in Finland.
Oura has also established more than 1,200 partnerships across health, sports, wellness, and commercial industries. These partnerships include collaborations with organizations such as the Football Association, the Finnish Olympic team, US Soccer, and the US Open.
A major reason for Oura’s popularity has been its strong emphasis on sleep tracking. Unlike larger wearable devices, the ring format is generally considered more comfortable for overnight use, allowing users to monitor sleep patterns with less disruption.
The brand has additionally benefited from high-profile celebrity attention over the years. Public figures including Jennifer Aniston, Gwyneth Paltrow, Kim Kardashian, and Prince Harry have all reportedly used Oura rings, helping boost the company’s visibility and luxury-tech appeal.
As competition in wearable technology intensifies, the launch of Ring 5 represents a major moment for Oura as it attempts to maintain its leadership position in the increasingly crowded smart ring market while preparing for its next phase as a publicly traded company. King’s College London Researchers Gain Access to Google’s Willow Quantum Chip | Maya
