Oura is a smart ring maker founded in 2013 in Oulu, Finland, now headquartered in San Francisco. Its ring tracks sleep, heart rate, skin temperature and activity, and a $5.99-a-month membership unlocks the detailed insights. Oura raised money at about an $11 billion valuation in October 2025, announced the Oura Ring 5 in May 2026, and postponed its planned Nasdaq IPO on September 29, 2026, according to CNBC.
Originally published June 2026. Updated October 2026.
What are the key facts about Oura?
- Petteri Lahtela, Markku Koskela and Kari Kivelä founded Oura in 2013, and Tom Hale is chief executive.
- The Oura Ring 5 starts at $399, and the membership costs $5.99 a month or $69.99 a year.
- Tom Hale said Oura was on track for about $1 billion in 2025 sales, and the company reports 5.7 million paying members and profitability.
- Oura's IPO drew about four times as many orders as shares before the company postponed it.
What is on this page?
Who founded Oura and who runs it?
Petteri Lahtela, Markku Koskela and Kari Kivelä founded Oura Health in 2013 in Oulu, Finland, and Tom Hale is its chief executive, according to the Oura Health company profile. The company lists San Francisco as its headquarters.
Oura built its product as a ring worn day and night. The ring carries sensors for heart rate and blood oxygen, skin temperature and movement, as described in Tom's Guide's Ring 5 review. The Oura app turns that data into sleep, readiness and activity guidance.
What does the Oura Ring 5 cost and what does it track?
The Oura Ring 5 starts at $399 for the base finishes and $499 for the premium finishes, and it needs an Oura membership at $5.99 a month or $69.99 a year for full app access, according to Athletech News. Oura announced the ring in May 2026. The table compares it with the Oura Ring 4, which launched in October 2024.
| Detail | Oura Ring 5 | Oura Ring 4 |
|---|
| Starting price | $399 | $349 |
| Battery life | Up to 9 days | Up to 8 days |
| Weight | From 2 grams | 3.3 to 5.2 grams |
| Thickness | 2.28 mm | About 2.88 mm |
| Sensors | Heart rate and blood oxygen, skin temperature, accelerometer | Heart rate and blood oxygen, skin temperature, accelerometer |
| Membership | $5.99 a month | $5.99 a month |
Specifications come from Tom's Guide. Athletech News describes the Ring 5 as 40 percent smaller than its predecessor, with tracking for more than 50 health metrics including sleep, activity, heart health, women's health and stress.
How big is Oura, and is it profitable?
Oura reports 5.7 million paying members and says it is profitable, and its chief executive said the company was on track for about $1 billion in sales in 2025, roughly double 2024. The table collects the main figures with their sources.
The 2026 figures are company projections, not reported results. Oura has not published full-year 2026 revenue.
What happened with the Oura IPO?
Oura filed confidentially for a US IPO in May 2026, launched the offering in September 2026 and postponed it on September 29, 2026. The sequence ran as follows.
- On May 21, 2026, CNBC reported that Oura had filed confidentially for an IPO.
- On September 21, 2026, Oura formally launched its IPO plans, aiming to raise up to $2.2 billion, according to CNBC.
- The marketed price range was $40 to $44 a share, which TechCrunch said would have valued Oura at up to $15 billion at the midpoint.
- On September 29, 2026, Oura postponed the offering, citing uncertainty in the IPO market, and CEO Tom Hale said the company has the luxury of choosing its moment.
Bloomberg reported that the offering had drawn about four times as many orders as shares, and Oura said demand was strong when it paused. CNBC separately noted that investors had raised concerns about Oura's concentrated product line, and that seven IPOs of at least $50 million were postponed or pulled in the third quarter, according to Renaissance Capital data.
How accurate is Oura's sleep tracking?
Peer-reviewed studies have tested the Oura Ring Generation 3 against polysomnography, the sleep lab standard. A validation study in Sleep Medicine in January 2024 compared the ring with multi-night ambulatory polysomnography across 96 participants and 421,045 epochs, according to its published record.
A separate Brigham and Women's Hospital study of 35 participants compared the Oura Ring Gen 3, Fitbit Sense 2 and Apple Watch Series 8 against polysomnography for one night. Oura's sensitivity for sleep stages ranged from 76 percent to 79.5 percent, according to Wareable's report on the study. Wareable also noted that stage accuracy, even at the top of the group, is far from perfect.
Both studies tested the third-generation ring, not the Ring 5, so they support the sensor approach rather than the newest model.
Oura's main open questions are product concentration, the cost of the membership model and the timing of a public listing.
- CNBC reported investor concern that Oura depends on a narrow product line built around one ring.
- At $399 plus $69.99 a year, the base Ring 5 costs about $609 over three years in ring and membership fees.
- The IPO postponement delays the listing, and Oura has not named a new date.
- Samsung's Galaxy Ring and other smart rings compete for the same buyers, as TechRadar's Ring 4 review notes in its comparison with Samsung.
Frequently asked questions
What is Oura?
Oura is a smart ring and app that track sleep, heart rate, skin temperature and activity. The company was founded in 2013 in Oulu, Finland, and sells the Oura Ring 5 with a monthly membership.
Who founded Oura?
Petteri Lahtela, Markku Koskela and Kari Kivelä founded Oura Health in 2013 in Oulu, Finland. Tom Hale is the current chief executive.
How much does the Oura Ring 5 cost?
The Oura Ring 5 costs $399 in the base finishes and $499 in the premium finishes. The membership adds $5.99 a month or $69.99 a year.
Is Oura profitable?
Yes, according to the company. Oura said in September 2026 that it is profitable, with revenue expected to grow 90 percent in its 2026 fiscal year.
Is Oura a public company?
No. Oura postponed its planned Nasdaq IPO on September 29, 2026, and as of October 2026 it had not announced a new listing date.
How accurate is Oura sleep tracking?
In one hospital study that compared the third-generation Oura Ring with polysomnography, sleep-stage sensitivity ranged from 76 percent to 79.5 percent. Stage accuracy is useful for trends but is not perfect.
