Owlet, Inc. - OWLT STOCK NEWS

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) has launched a global campaign called 'Only Owlet' to highlight the impact of stress and lack of sleep on parents' lives. The campaign features new research and real-life stories showcasing how Owlet's smart infant monitoring technology helps alleviate parental anxieties.

Key findings from the research include:

• Exhaustion is the top emotion felt by parents during their baby's first year
• Parents check on their baby up to 8 times each night
• Nearly 75% of parents say infant monitoring technology reduces stress and anxiety
• 96% of Owlet parents report more peace of mind
• 94% of Owlet parents report better quality sleep

The campaign shares stories from parents who have benefited from Owlet's technology, including early detection of health issues and reduced anxiety. Owlet's CEO, Kurt Workman, emphasizes the company's mission to empower caregivers with critical information about their babies' health.

Owlet announced the departure of CFO Kate Scolnick, who will be replaced by Amanda Twede Crawford, the current VP of Financial Planning and Analysis. Kate will remain in an advisory role through September 2024. The company reaffirms its 2024 financial goals and highlights strong business momentum, including international expansion and progress in the remote patient monitoring segment. Owlet will report its Q2 2024 financial results on August 12, 2024, followed by a conference call to discuss the results.

Owlet has launched its medically-certified Dream Sock™ in the UK and Europe, expanding its global footprint. The Dream Sock is a smart baby monitor designed to provide real-time health readings for infants aged 0-18 months, weighing 2.5-13.6 kg. It offers live monitoring of pulse rate, oxygen levels, and sleep patterns, notifying parents via the Owlet Dream App and Base Station in case of irregularities.

The device is CE and UKCA Marked, meeting stringent regulatory standards. Available in multiple European countries, it can be paired with the Owlet Cam® 2 for enhanced monitoring. Owlet's CEO, Kurt Workman, emphasized the product's role in providing reassurance and hospital-grade accuracy at home.

The Dream Sock is available through local websites and major retailers like Amazon and John Lewis. The launch aims to improve infant care by equipping parents with precise data to make informed decisions.

Owlet, a leader in smart infant monitoring, announces its participation in the 8th Annual Cowen Future of the Consumer Conference in New York City, scheduled for June 4-5, 2024. The company’s Co-Founder and CEO, Kurt Workman, and CFO, Kate Scolnick, will present on June 5 at 10:10 a.m. Eastern Time. Owlet will also engage in one-on-one investor meetings. The presentation will be webcast live and available for replay on Owlet's Investor Relations website.

Owlet, a leader in smart infant monitoring, has achieved UKCA certification for its Dream Sock, a significant milestone following its recent CE Mark certification. This recognition allows Owlet to expand its reach across the UK and Europe, where it already has key retail partnerships. The Dream Sock, designed for healthy infants, measures oxygen saturation, pulse rate, and provides sleep insights. It will soon be available at major retailers in the UK, Germany, and France, and later in other European countries. This expansion is poised to impact over 3.8 million annual births in the region.

Owlet, Inc. announced strong first quarter 2024 results with revenue of approximately $14.8 million, up 37% year over year, gross margin at 44.4%, and net income of $3.3 million. The company's adjusted EBITDA loss improved by 46% year over year. Owlet's CEO highlighted the positive feedback on their medical devices and increased demand for their products, projecting continued success in 2024.

Owlet, Inc. announces the EU medical device certification of Dream Sock, a smart infant monitoring product. This certification allows Owlet to expand its product portfolio in European markets and provide caregivers with innovative technology for home-based baby monitoring. The product offers clinically-proven accuracy and real-time data delivery through a mobile app and Base Station. Dream Sock is set to launch in Germany, France, and the UK this spring, with plans for further European expansion.

Owlet, Inc. (NYSE: OWLT), a leader in smart infant monitoring, will be participating in two upcoming investor conferences: the Emerging Growth Virtual Conference on May 8, 2024, and the Sidoti May Micro Cap Virtual Conference on May 8-9, 2024. The Company's Co-Founder and CEO, Kurt Workman, along with CFO Kate Scolnick, will present at both events.