The Oura Ring 5 is released as the smallest smart ring in the world, priced at $399.

      Oura has introduced the Ring 5, a smart ring that is 40% smaller than its previous model, measuring 6.09mm in width. It features blood pressure pattern detection and AI-enhanced Health Radar monitoring. Priced starting at $399, it is set to ship on June 4, coinciding with Oura's plans for a US IPO valued at $11 billion.

      The Ring 5 is the smallest smart ring available, measuring 6.09mm wide and 2.29mm thick, and weighing as little as 2 grams depending on the size—significantly smaller than the Ring 4’s 7.99mm width and 2.88mm thickness. Despite its reduced size, Oura claims the Ring 5 maintains the same sensor accuracy and offers up to nine days of battery life. CEO Tom Hale expressed to CNBC that the company has achieved a significant technological milestone, fulfilling long-standing requests from users. The Ring 5 is now available for preorder, priced at $399 for black and silver, or $499 for gold, stealth, brushed silver, and deep rose options, with shipments beginning on June 4. A subscription to Oura is required, costing $5.99 monthly or $69.99 yearly.

      The Ring 5 features Blood Pressure Signals, which identifies changes and patterns that may indicate cardiovascular strain. It does not measure blood pressure directly but monitors biometric patterns that correlate with increased blood pressure, notifying users of any concerning trends. This feature positions Oura within the expanding market for continuous cardiovascular tracking, alongside companies offering cuffless blood pressure monitoring for wrist-worn devices.

      Additionally, a Nighttime Breathing feature provides users with a 30-day overview of sleep-related breathing patterns and disturbances, which could encourage discussions with doctors about issues like sleep apnea. Oura is also including GLP-1 insights to track weight and bodily changes for users on GLP-1 medications such as Ozempic and Wegovy, providing a comprehensive view of their medication journey.

      The launch of Ring 5 aligns with a crucial phase for Oura as it confidentially filed for a US IPO, achieving a valuation of approximately $11 billion after a $900 million Series E funding led by Fidelity in late 2025. The total funds raised are around $1.5 billion, with additional support from ICONIQ, Whale Rock, and Atreides. Oura has also secured a $250 million revolving credit facility from JPMorgan, Goldman Sachs, Bank of America, Barclays, Citi, and Wells Fargo.

      Oura's financial outlook is ambitious, reporting over $500 million in revenue in 2024, approximately doubling it to around $1 billion in 2025, with projections of nearly $2 billion in sales by 2026. The Ring 5 aims to boost this growth by addressing the primary complaint from users regarding the previous model's thickness.

      The smart ring market, initially dominated by Oura, has become competitive. Samsung recently launched the Galaxy Ring at $399, which competes directly with Oura’s price and integrates with the Samsung Health ecosystem. The Galaxy Ring weighs about 2.3 grams and has gained popularity among users who find smartwatches cumbersome for sleep monitoring. While Apple has not yet released a ring, rumors suggest it is considering this product, with predictions of an Apple Ring possibly arriving by 2026.

      Wearable fitness trackers have transitioned from simple step counters to medical-grade monitoring equipment, and smart rings bridge the gap between convenience and clinical capabilities. They appeal to users seeking continuous health tracking without the bulk of a wrist screen, making the smaller size of the Ring 5 an attractive option.

      For Oura, the Ring 5 serves not only as a product launch but also as a statement ahead of its IPO. Its arrival as a more compact and advanced device suggests confidence in sustaining growth as a public company. The health wearable market is increasingly crowded, but Oura's strategy is to leverage its ring form factor and AI-powered health insights to maintain a competitive edge over watches and bands.