First, if you are using a Bluetooth speaker the latency is being compounded and we must recommend a wired connection through your headphone jack.
If this is not the case for you, please test for a known range issue by opening your app with rings disconnected, setting phone down and carefully walk 10 feet away without shaking the ring. Face directly away from the phone and tap ring to other hand 35 to 50 times in attempt to connect with your phone. Working rings should survive this test. If phone connects but latency is still apparent, please take a short video clip of your latency to us, include the make/model/operating system of the device and we will discuss a replacement.