Based on oxygen levels, mine also varies from subclinial to "medium" apnea. I was deemed not to have sleep apnea based on the take-home test or the in-hospital test... but I wore my oxygen-logging ring during the in-hospital test to check it was calibrated to the hospital's equipment (it was), and the specialist then diagnosed me based on my measurements of oxygen levels on other nights.
And while we're on the subject, AHI is also pretty terrible. You could have an AHI of say, 5, which means "you don't have sleep apnea", but if you're sleeping 8 hours and these events only occur during the 2 hours of REM, then you've got an AHI of 20 during REM sleep, which will still wreck you.
It sounds like one of the better sleep trackers (and not just sleep) if you aren't bothered by the whole "send detailed and continuous personal information to the cloud" thing. I'd recommend staying away from that kind of thing, though..
It appears that going below 94% 5 times per hour would indicate mild sleep apnea.