Owlet Announces Strong Second Quarter 2024 Results, Achieves Record-Breaking Amazon Prime Day
Owlet, Inc. (NYSE:OWLT) reported strong Q2 2024 financial results, showcasing significant growth and improved profitability. Revenue reached $20.7 million, up 58% year-over-year, while gross margin improved to 50%, a 1,000 basis point increase. The company's net loss narrowed to $1.1 million, an 85% improvement from the previous year. Notably, Owlet achieved positive adjusted EBITDA of $0.1 million, compared to a $4.3 million loss in Q2 2023.
Owlet's success was driven by increased sales of Dream Sock products and expanded market access, including CE Medical certification for UK and Europe. The company also reported record-breaking results for Amazon Prime Day. Looking ahead, Owlet projects H2 2024 revenue between $37-42 million and FY 2024 revenue of $72.5-77.5 million, with a clear path to adjusted EBITDA breakeven by the end of 2024.
Owlet, Inc. (NYSE:OWLT) ha riportato risultati finanziari solidi per il secondo trimestre del 2024, mostrando una crescita significativa e una maggiore redditività. I ricavi hanno raggiunto i 20,7 milioni di dollari, con un aumento del 58% rispetto all'anno precedente, mentre il margine lordo è migliorato al 50%, con un incremento di 1.000 punti base. La perdita netta dell'azienda si è ridotta a 1,1 milioni di dollari, un miglioramento dell'85% rispetto all'anno precedente. Noto, Owlet ha ottenuto un EBITDA rettificato positivo di 0,1 milioni di dollari, rispetto a una perdita di 4,3 milioni di dollari nel secondo trimestre del 2023.
Il successo di Owlet è stato guidato da un aumento delle vendite dei prodotti Dream Sock e da un accesso al mercato ampliato, inclusa la certificazione CE Medica per Regno Unito ed Europa. L'azienda ha anche riportato risultati da record per il Prime Day di Amazon. Guardando avanti, Owlet prevede ricavi per il secondo semestre del 2024 tra i 37 e i 42 milioni di dollari e ricavi per l'anno fiscale 2024 tra i 72,5 e i 77,5 milioni di dollari, con un percorso chiaro verso il pareggio dell'EBITDA rettificato entro la fine del 2024.
Owlet, Inc. (NYSE:OWLT) reportó resultados financieros sólidos para el segundo trimestre de 2024, mostrando un crecimiento significativo y una rentabilidad mejorada. Los ingresos alcanzaron los 20,7 millones de dólares, un aumento del 58% interanual, mientras que el margen bruto mejoró al 50%, un incremento de 1.000 puntos básicos. La pérdida neta de la compañía se redujo a 1,1 millones de dólares, una mejora del 85% respecto al año anterior. Cabe destacar que Owlet logró un EBITDA ajustado positivo de 0,1 millones de dólares, en comparación con una pérdida de 4,3 millones de dólares en el segundo trimestre de 2023.
El éxito de Owlet fue impulsado por un aumento en las ventas de los productos Dream Sock y un acceso al mercado ampliado, incluyendo la certificación CE Médica para el Reino Unido y Europa. La empresa también reportó resultados récord durante el Prime Day de Amazon. Mirando hacia adelante, Owlet proyecta ingresos para el segundo semestre de 2024 entre 37 y 42 millones de dólares y ingresos para el año fiscal 2024 de entre 72,5 y 77,5 millones de dólares, con un claro camino hacia el equilibrio del EBITDA ajustado para finales de 2024.
Owlet, Inc. (NYSE:OWLT)는 2024년 2분기 강력한 재무 성과를 보고하여 상당한 성장과 개선된 수익성을 보여주었습니다. 매출은 2,070만 달러에 달했으며, 전년 대비 58% 증가했으며, 총 마진은 50%로 개선되었습니다, 1,000 베이시스 포인트 상승. 회사의 순손실은 110만 달러로 줄어들어 전년 대비 85% 개선되었습니다. 특히, Owlet은 조정된 EBITDA가 10만 달러로 긍정적이다, 2023년 2분기에 430만 달러의 손실에 비해.
Owlet의 성공은 Dream Sock 제품 판매 증가와 영국 및 유럽의 CE 의료 인증을 포함한 시장 접근 확대에 의해 촉진되었습니다. 이 회사는 아마존 프라임 데이에서 기록적인 결과를 보고했습니다. 앞으로 Owlet은 2024년 하반기 매출을 3,700만 – 4,200만 달러, 2024 회계연도 매출을 7,250만 – 7,750만 달러로 예상하며, 2024년 말까지 조정된 EBITDA 손익분기점을 향한 명확한 경로가 있습니다.
Owlet, Inc. (NYSE:OWLT) a rapporté de solides résultats financiers pour le deuxième trimestre 2024, montrant une croissance significative et une rentabilité améliorée. Les revenus ont atteint 20,7 millions de dollars, en hausse de 58 % par rapport à l'année précédente, tandis que la marge brute s'est améliorée à 50%, soit une augmentation de 1 000 points de base. La perte nette de l'entreprise a été réduite à 1,1 million de dollars, soit une amélioration de 85 % par rapport à l'année précédente. Notamment, Owlet a atteint un EBITDA ajusté positif de 0,1 million de dollars, par rapport à une perte de 4,3 millions de dollars au deuxième trimestre 2023.
Le succès d'Owlet a été soutenu par une augmentation des ventes des produits Dream Sock et un accès élargi au marché, y compris la certification CE Médicale pour le Royaume-Uni et l'Europe. L'entreprise a également rapporté des résultats record pour le Prime Day d'Amazon. En regardant vers l'avenir, Owlet prévoit des revenus pour le second semestre 2024 compris entre 37 et 42 millions de dollars et des revenus pour l'exercice 2024 compris entre 72,5 et 77,5 millions de dollars, avec un chemin clair vers l'équilibre de l'EBITDA ajusté d'ici la fin de 2024.
Owlet, Inc. (NYSE:OWLT) hat starke Finanzkennzahlen für das zweite Quartal 2024 gemeldet, die signifikantes Wachstum und verbesserte Rentabilität zeigen. Die Einnahmen beliefen sich auf 20,7 Millionen US-Dollar, was einem Anstieg von 58 % im Jahresvergleich entspricht, während die Bruttomarge auf 50 % verbessert wurde, ein Anstieg um 1.000 Basispunkte. Der Nettoverlust des Unternehmens wurde auf 1,1 Millionen US-Dollar reduziert, was einer Verbesserung um 85 % im Vergleich zum Vorjahr entspricht. Erwähnenswert ist, dass Owlet ein positives bereinigtes EBITDA von 0,1 Millionen US-Dollar erreicht hat, verglichen mit einem Verlust von 4,3 Millionen US-Dollar im zweiten Quartal 2023.
Der Erfolg von Owlet wurde durch steigende Verkaufszahlen der Dream Sock-Produkte und den erweiterten Marktzugang, einschließlich CE-Medizin-Zertifizierung für das Vereinigte Königreich und Europa, vorangetrieben. Das Unternehmen berichtete außerdem über Rekordergebnisse am Amazon Prime Day. Ausblickend rechnet Owlet mit Einnahmen im zweiten Halbjahr 2024 von 37 - 42 Millionen US-Dollar und einem Umsatz für das Geschäftsjahr 2024 von 72,5 - 77,5 Millionen US-Dollar, mit einem klaren Weg zur Erreichung des bereinigten EBITDA-Breakeven bis Ende 2024.
- Revenue increased 58% year-over-year to $20.7 million
- Gross margin improved by 1,000 basis points to 50%
- Achieved positive adjusted EBITDA of $0.1 million
- Net loss reduced by 85% to $1.1 million
- Obtained CE Medical certification for UK and Europe markets
- Record-breaking sales during Amazon Prime Day
- Projected FY 2024 revenue of $72.5-77.5 million
- Still operating at a net loss, albeit reduced
- Potential for adjusted EBITDA loss in H2 2024 (projected range of -$3 million to break-even)
Insights
Owlet's Q2 2024 results show significant improvement, marking a potential turning point for the company. Revenue jumped
The company's net loss narrowed by
However, investors should note the projected Adjusted EBITDA loss of
Owlet's record-breaking Amazon Prime Day performance signals strong consumer demand for smart infant monitoring devices. The company's expansion into major European markets with CE Medical certification could be a game-changer, potentially opening up a significant new revenue stream.
The projected revenue range of
Investors should watch for Owlet's ability to maintain its growth momentum, especially given the competitive landscape in baby tech. The company's success in leveraging its FDA clearances and European certifications to capture market share will be important for long-term value creation.
Owlet's Dream Sock product line is driving growth, highlighting the increasing adoption of IoT devices in childcare. The company's focus on building a trusted infant health monitoring ecosystem aligns with the broader trend of connected health devices and could provide a competitive edge.
The recent regulatory approvals, including FDA clearances and CE Medical certification, validate Owlet's technology and could pave the way for new product innovations and features. This is important in a market where safety and reliability are paramount.
However, as the smart baby monitor market grows, Owlet may face increased competition from both established tech giants and startups. The company's ability to innovate, improve user experience and integrate with other smart home systems will be key to maintaining its market position and justifying premium pricing.
Q2 2024 Financial Highlights:
-
Obtained CE Medical certification for
UK andEurope , launching Dream Sock across major European markets. -
Q2 Revenue was approximately
$20.7 million 58% year over year. -
Q2 Gross Margin was approximately
50% , up approximately 1,000 basis points year over year. -
Q2 Net Loss was approximately
( , improving approximately$1.1) million 85% compared to Net Loss of approximately( year over year.$8.5) million -
Q2 adjusted EBITDA was approximately
$0.1 million ( in the same prior year period.$4.3) million
“Owlet’s results in the first half of 2024 give us added confidence that this year is a turning point for our company. We have delivered strong, double-digit revenue and sell-through growth as we advance our vision to make Owlet the most trusted infant health monitoring ecosystem. Along with our excellent commercial progress, we have continued to streamline our business to achieve improved gross margins and significantly lower operating expenses, which in turn drove improved Adjusted EBITDA and a clear path to Adjusted EBITDA breakeven exiting 2024,” said Kurt Workman, Owlet’s Chief Executive Officer and Co-Founder.
Workman continued, “While pleased with our advancements across our business, we are not resting and plan to continually lay the regulatory groundwork for additional commercial expansion in both our home US market and abroad. A prime example of this comes on the heels of our groundbreaking FDA clearances in 2023, and during the quarter, we announced medical certification and product introductions in both the
Financial Results for the Second Quarter Ended June 30, 2024
Revenues for the second quarter of 2024 were approximately
Cost of revenues for the second quarter of 2024 was approximately
Operating expenses, including stock-based compensation, were approximately
Operating loss was approximately
Net loss was approximately
In the second quarter of 2024 there was a decrease in the fair value of common stock warrants outstanding, resulting in a gain of approximately
Adjusted EBITDA was approximately
Net loss per share was (
Financial Outlook
For the second half of 2024, we are estimating net revenue to be in the range of
For FY 2024, we are estimating net revenue to be in the range of
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the Company’s expected financial performance, including the Company’s financial outlook, outlook based upon regulatory authorizations or product enhancements, growth prospects, and future operational efficiencies or results and expected market opportunity and acceptance. In some cases, you can identify forward-looking statements by terms such as “estimate,” “may,” “believes,” “plans,” “expects,” “anticipates,” “intends,” “goal,” “potential,” “upcoming,” “outlook,” “guidance,” the negation thereof, or similar expressions, although not all forward-looking statements contain these identifying words. Forward-looking statements are based on the Company’s expectations at the time such statements are made, speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors. For all such forward-looking statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act. The Company’s actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by our forward-looking statements. Many important factors could affect the Company’s future results and cause those results to differ materially from those expressed in or implied by the Company’s forward-looking statements. Such factors include, but are not limited to, (i) the regulatory pathway for Owlet’s products, including submissions to, actions taken by and decisions and responses from regulators, such as the FDA and similar regulators outside of
Disclosure Regarding Non-GAAP Financial Measures
In addition to the financial measures presented in this release in accordance with
The Company uses such non-GAAP financial measures as internal measures of business operating performance and as performance measures for benchmarking against the Company’s peers and competitors. The Company believes its presentation of EBITDA, adjusted EBITDA, adjusted net loss and adjusted net loss per share provide a meaningful perspective of the underlying operating performance of the Company’s current business and enables investors to better understand and evaluate its historical and prospective operating performance. The Company believes that these non-GAAP financial measures are important supplemental measures of operating performance because they exclude items that vary from period to period without correlation to the Company’s core operating performance and highlight trends in its business that may not otherwise be apparent when relying solely on GAAP financial measures. Due to the nature of the items being excluded, such items do not reflect future gains, losses, expenses or benefits and are not indicative of the Company’s future operating performance. The Company believes investors, analysts and other interested parties use EBITDA, adjusted EBITDA, adjusted net loss and adjusted net loss per share in evaluating issuers, and the presentation of these measures facilitates a comparative assessment of the Company’s operating performance in addition to the Company’s performance based on GAAP results.
The Company’s non-GAAP financial measures should not be considered as an alternative to net loss or net loss per share as a measure of financial performance or any other performance measure derived in accordance with GAAP and should not be construed as an inference that the Company’s future results will be unaffected by unusual or non-recurring items.
EBITDA is defined as net loss adjusted for income tax provision and interest expense, net and depreciation and amortization.
Adjusted EBITDA is defined as net loss adjusted for income tax provision, interest expense, interest expense from contingent beneficial conversion feature, interest income, depreciation and amortization, restructuring costs, warrant liability adjustments, gain on loan forgiveness, stock-based compensation, and transaction costs.
Adjusted net loss is defined as net loss adjusted for restructuring costs, common stock warrant liability adjustments, stock-based compensation, and transaction costs. Adjusted net loss per share is defined as adjusted net loss divided by the weighted-average shares of common stock outstanding.
EBITDA, adjusted EBITDA, adjusted net loss and adjusted net loss per share are not recognized terms under GAAP, and the Company’s presentation of these non-GAAP measures does not replace the presentation of the Company’s financial results in accordance with GAAP. Because all companies do not use EBITDA, adjusted EBITDA, adjusted net loss and adjusted net loss per share (and similarly titled financial measures) in the same way, those measures as used by other companies may not be consistent with the way the Company calculates such measures. The non-GAAP financial measures included in this release should not be construed as substitutes for or better indicators of the Company’s performance than the most directly comparable GAAP financial measures. See the reconciliation tables that accompany this release for additional information regarding certain of the non-GAAP financial measures included herein.
A reconciliation of the Company's guidance with respect to non-GAAP financial measures to the most directly comparable GAAP financial measure cannot be provided without unreasonable efforts and is not provided herein because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, the amounts of which could be material.
Conference Call and Webcast Information
Owlet will host a conference call and audio webcast today, August 12, 2024, at 4:30 p.m. ET to discuss these results.
To access the conference call by telephone, please dial (833) 470-1428 (domestic) or +1 (404) 975-4839 (international) and reference Access Code 458341. To listen to the conference call via live audio webcast and access the accompanying presentation materials, please visit the Events section of Owlet’s Investor Relations website at investors.owletcare.com.
The archived webcast will also be available on Owlet’s Investor Relations website mentioned above.
About Owlet, Inc.
Owlet’s digital health infant monitoring platform is transforming the journey of parenting. Owlet, a small-cap healthcare growth equity, offers FDA-authorized medical and consumer pediatric wearables and an integrated HD visual and audio camera that provide real-time data and insights to parents who safeguard health, optimize wellness, and ensure peaceful sleep, for their children.
Since 2012, over 2 million parents worldwide have used Owlet’s platform contributing to one of the largest collections of consumer infant health and sleep data. The Company continues to develop software and digital data solutions to bridge the current healthcare gap between hospital and home and bring new insights to parents and caregivers globally. Owlet believes that every child deserves to live a long, happy, and healthy life. To learn more, visit www.owletcare.com.
Source: Owlet, Inc.
Owlet, Inc. Condensed Consolidated Balance Sheets - Preliminary, Unaudited1 (in millions) |
||||||||
Assets |
|
June 30, 2024 |
|
December 31, 2023 |
||||
Current assets: |
|
|
|
|
||||
Cash and cash equivalents |
|
$ |
15.4 |
|
|
$ |
16.6 |
|
Accounts receivable, net |
|
|
16.9 |
|
|
|
14.0 |
|
Inventory |
|
|
8.1 |
|
|
|
6.5 |
|
Prepaid expenses and other current assets |
|
|
2.2 |
|
|
|
2.9 |
|
Total current assets |
|
|
42.5 |
|
|
|
39.9 |
|
Property and equipment, net |
|
|
0.2 |
|
|
|
0.4 |
|
Right of use assets, net |
|
|
0.2 |
|
|
|
0.9 |
|
Intangible assets, net |
|
|
2.2 |
|
|
|
2.2 |
|
Other assets |
|
|
0.7 |
|
|
|
0.7 |
|
Total assets |
|
$ |
45.9 |
|
|
$ |
44.1 |
|
Liabilities and Stockholders’ Equity |
|
|
|
|
||||
Current liabilities: |
|
|
|
|
||||
Accounts payable |
|
$ |
17.5 |
|
|
$ |
13.7 |
|
Accrued and other expenses |
|
|
11.6 |
|
|
|
15.1 |
|
Current portion of deferred revenues |
|
|
1.2 |
|
|
|
1.2 |
|
Line of credit |
|
|
9.7 |
|
|
|
9.3 |
|
Current portion of long-term debt |
|
|
2.1 |
|
|
|
5.9 |
|
Total current liabilities |
|
|
42.2 |
|
|
|
45.1 |
|
Common stock warrant liability |
|
|
24.4 |
|
|
|
27.8 |
|
Other long-term liabilities |
|
|
0.2 |
|
|
|
0.9 |
|
Total liabilities |
|
|
66.7 |
|
|
|
73.8 |
|
Total mezzanine equity |
|
|
12.6 |
|
|
|
7.9 |
|
Total stockholders’ equity |
|
|
(33.4 |
) |
|
|
(37.5 |
) |
Total liabilities and stockholders’ equity |
|
$ |
45.9 |
|
|
$ |
44.1 |
|
1 Amounts may not sum due to rounding |
||||||||
Owlet, Inc. Condensed Consolidated Statements of Cash Flows - Preliminary, Unaudited1 (in millions) |
|||||
|
For the Six Months Ended June 30, |
||||
|
2024 |
|
|
2023 |
|
Net cash used in operating activities |
(6.7 |
) |
|
(16.8 |
) |
Net cash used in investing activities |
(0.1 |
) |
|
— |
|
Net cash provided by financing activities |
5.6 |
|
|
30.3 |
|
Net change in cash and cash equivalents |
(1.2 |
) |
|
13.5 |
|
1 Amounts may not sum due to rounding |
|||||
Owlet, Inc. Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - Preliminary, Unaudited1 (in millions, except share and per share amounts) |
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|
Three Months Ended
|
|
Six Months Ended
|
||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Revenues |
$ |
20.7 |
|
|
$ |
13.1 |
|
|
$ |
35.4 |
|
|
$ |
23.8 |
|
Cost of revenues |
|
10.4 |
|
|
|
7.9 |
|
|
|
18.7 |
|
|
|
14.4 |
|
Gross profit |
|
10.3 |
|
|
|
5.2 |
|
|
|
16.8 |
|
|
|
9.4 |
|
Operating expenses: |
|
|
|
|
|
|
|
||||||||
General and administrative |
|
6.3 |
|
|
|
6.1 |
|
|
|
12.3 |
|
|
|
15.0 |
|
Sales and marketing |
|
3.9 |
|
|
|
3.1 |
|
|
|
7.7 |
|
|
|
6.4 |
|
Research and development |
|
2.4 |
|
|
|
2.7 |
|
|
|
4.7 |
|
|
|
5.6 |
|
Total operating expenses |
|
12.5 |
|
|
|
11.9 |
|
|
|
24.8 |
|
|
|
27.1 |
|
Operating loss |
|
(2.2 |
) |
|
|
(6.7 |
) |
|
|
(8.0 |
) |
|
|
(17.7 |
) |
Other income (expense): |
|
|
|
|
|
|
|
||||||||
Interest expense, net |
|
— |
|
|
|
(0.1 |
) |
|
|
(0.1 |
) |
|
|
(2.9 |
) |
Common stock warrant liability adjustment |
|
1.0 |
|
|
|
(1.6 |
) |
|
|
10.2 |
|
|
|
0.3 |
|
Other income (expense), net |
|
0.1 |
|
|
|
(0.1 |
) |
|
|
0.1 |
|
|
|
(0.1 |
) |
Total other income (expense), net |
|
1.1 |
|
|
|
(1.7 |
) |
|
|
10.1 |
|
|
|
(2.7 |
) |
Income (loss) before income tax provision |
|
(1.1 |
) |
|
|
(8.5 |
) |
|
|
2.1 |
|
|
|
(20.3 |
) |
Income tax provision |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Net income (loss) and comprehensive loss |
|
(1.1 |
) |
|
|
(8.5 |
) |
|
|
2.1 |
|
|
|
(20.3 |
) |
Accretion on convertible preferred stock |
|
(1.5 |
) |
|
|
(1.3 |
) |
|
|
(2.9 |
) |
|
|
(2.0 |
) |
Net income (loss) attributable to common stockholders |
|
(2.7 |
) |
|
|
(9.8 |
) |
|
|
(0.7 |
) |
|
|
(22.3 |
) |
Net loss per share attributable to common stockholders, basic and diluted |
$ |
(0.30 |
) |
|
$ |
(1.19 |
) |
|
$ |
(0.08 |
) |
|
$ |
(2.73 |
) |
Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders, basic and diluted |
|
8,867,399 |
|
|
|
8,213,247 |
|
|
|
8,803,729 |
|
|
|
8,162,102 |
|
1 Amounts may not sum due to rounding |
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Owlet, Inc. Reconciliation of GAAP to Non-GAAP Measures - Preliminary, Unaudited1 (in millions) |
||||||||||||||||
|
Three Months Ended
|
|
Six Months Ended
|
|||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||||||
Net income (loss) |
$ |
(1.1 |
) |
|
$ |
(8.5 |
) |
|
$ |
2.1 |
|
|
$ |
(20.3 |
) |
|
Income tax provision |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Interest expense, net |
|
— |
|
|
|
0.1 |
|
|
|
0.1 |
|
|
|
2.9 |
|
|
Depreciation and amortization |
|
0.1 |
|
|
|
0.2 |
|
|
|
0.2 |
|
|
|
0.5 |
|
|
EBITDA |
$ |
(1.0 |
) |
|
$ |
(8.2 |
) |
|
$ |
2.5 |
|
|
$ |
(16.9 |
) |
|
Common stock warrant liability adjustment |
|
(1.0 |
) |
|
|
1.6 |
|
|
|
(10.2 |
) |
|
|
(0.3 |
) |
|
Stock-based compensation |
|
2.1 |
|
|
|
2.6 |
|
|
|
4.3 |
|
|
|
5.4 |
|
|
Transaction costs |
|
0.1 |
|
|
|
(0.4 |
) |
|
|
0.4 |
|
|
|
1.7 |
|
|
Adjusted EBITDA |
$ |
0.1 |
|
|
$ |
(4.3 |
) |
|
$ |
(3.0 |
) |
|
$ |
(10.1 |
) |
|
1 Amounts may not sum due to rounding |
||||||||||||||||
|
Three Months Ended
|
|
Six Months Ended
|
|||||||||||||
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
|
Net income (loss) |
$ |
(1.1 |
) |
|
$ |
(8.5 |
) |
|
$ |
2.1 |
|
|
$ |
(20.3 |
) |
|
Non-GAAP adjustments: |
|
|
|
|
|
|
|
|||||||||
Common stock warrant liability adjustment |
|
(1.0 |
) |
|
|
1.6 |
|
|
|
(10.2 |
) |
|
|
(0.3 |
) |
|
Stock-based compensation |
|
2.1 |
|
|
|
2.6 |
|
|
|
4.3 |
|
|
|
5.4 |
|
|
Transaction costs |
|
0.1 |
|
|
|
(0.4 |
) |
|
|
0.4 |
|
|
|
1.7 |
|
|
Adjusted net income (loss) |
$ |
— |
|
|
$ |
(4.6 |
) |
|
$ |
(3.4 |
) |
|
$ |
(13.5 |
) |
|
Adjusted net income (loss) per share attributable to common stockholders |
$ |
— |
|
|
$ |
(0.56 |
) |
|
$ |
(0.38 |
) |
|
$ |
(1.65 |
) |
|
Weighted average number of shares outstanding |
|
8,867,399 |
|
|
|
8,213,247 |
|
|
|
8,803,729 |
|
|
|
8,162,102 |
|
|
1 Amounts may not sum due to rounding |
||||||||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20240812963145/en/
Investor:
Mike Cavanaugh
ICR Westwicke
Phone: +1.617.877.9641
mike.cavanaugh@westwicke.com
Media:
pr@owletcare.com
Source: Owlet, Inc.
FAQ
What was Owlet's revenue for Q2 2024?
How did Owlet's gross margin change in Q2 2024?
Did Owlet (OWLT) achieve profitability in Q2 2024?
What new markets did Owlet expand into during Q2 2024?
What is Owlet's revenue forecast for FY 2024?
