Oura on Thursday announced its latest smart ring, which it says is the smallest offered by any company.
The Oura Ring 5 will be 40% smaller than the previous generation Oura ring, the company said. The ring will still have the same level of sensitivity, tracking and accuracy as the previous generation, he said.
“We’ve finally achieved what I think looks like a real technological miracle,” Oura CEO Tom Hale said in an interview with CNBC’s Andrew Ross Sorkin on Thursday. “This is what our members have been asking for for years.” he said. “This was a difficult technical challenge. There are laws of physics involved in the size of the batteries and the ability to pack all the electronics, sensors; the geometry is different because it is very small,” he added.
The ring, which will begin shipping on June 4, will cost $399 for the basic finish and $499 for premium finishes such as gold and silver. The company will also introduce a portable charging case for the new Ring, priced at $99.
“I’ve been wearing it for six months with a cover and going to the gym and working out, I can feel it on my body, and that’s the first step I think in creating a truly transformative wearable,” Hale said.
Oura has been named to the CNBC Disruptor 50 list four times, including No. It did not provide a timeline for the IPO.
The company is introducing several new tracking and health features alongside the Oura Ring 5, features that will work with the 3rd and 4th generation Oura rings. That includes the expansion of health tracking, now called Health Radar. This feature monitors key biometric signals such as body temperature and breathing rate for problems in your body, giving you alerts if it detects important deviations. New capabilities include tracking blood pressure patterns during sleep, which Oura says can detect warning signs of cardiovascular risk, as well as nighttime breathing patterns and disorders.
Oura is also partnering with the on-demand healthcare platform Counsel Health to provide AI-enabled care. Oura members will be able to ask health questions, get personalized advice and connect with providers on the Oura app. That capability will be available in 43 US states, Oura said.
It also adds features that will better track live activities such as running and cycling, as well as a GLP-1 data feature that will help users of these weight loss medications track their dosing schedules, weight and body changes in conjunction with biometric data collected through their ring.
Oura Ring 5 model next to the ladybug.
Source: Oura
Oura’s evolution from a simple tracking device to a wearable that focuses on comprehensive health and wellness, as well as preventive and predictive care, has helped the company grow its user base beyond people who just want to track their sleep. Last September, Oura announced that it had sold more than 5.5 million Oura Rings since the launch of the product, up from the 2.5 million rings the company said it had sold as of June 2024. Hale told CNBC late last year that the company could reach nearly $2 billion in sales by 2026.
The company recently reported that it is on track to surpass five million paid members this quarter, a fourfold increase over the past two years. That has led to a 4x increase in total revenue over the past two financial years, it said.
“We’ve been in tears,” Hale told Sorkin on Thursday. “We’ve grown this business tremendously,” he said, citing an 80% membership renewal rate.
Last October, the company raised $900 million in Series E funding, valued at $11 billion. The company has raised more than $1.5 billion in total.
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