Owlet, Inc. - OWLT STOCK NEWS

Owlet, Inc. (NYSE: OWLT) will release its Q1 2023 financial results on May 11, 2023, after market close. The announcement will be available via Business Wire and on Owlet’s Investor Relations website. Following the release, Owlet's President and CEO Kurt Workman and CFO Kate Scolnick will host a conference call at 4:30 p.m. ET to discuss the results and provide business updates. Investors can listen to the call by dialing (833) 470-1428 (domestic) or +1 (929) 526-1599 (international), referencing Access Code 581944. A replay will be available post-call. Owlet aims to empower parents with data-driven insights to enhance their parenting experience.

Owlet, Inc. (NYSE: OWLT) announced on April 4, 2023, that it received a notification from the New York Stock Exchange regarding non-compliance with listing standards. This occurred due to its average global market capitalization and stockholders’ equity falling below $50 million. The Company intends to submit a plan to the NYSE within 45 days to address this deficiency and aims to comply within an 18-month cure period. The notification does not immediately affect the listing of Owlet's Class A common stock, which will continue trading while the Company works on the plan. If the plan is not submitted or accepted, delisting proceedings could be initiated.

Owlet, Inc. (OWLT) reported Q4 2022 revenues of approximately $12 million, down from $15 million in Q4 2021, with a gross margin of 27.5%. The company's fiscal year revenues totaled $69.2 million, down from $75.8 million in 2021. Operating loss for Q4 was $20.7 million, while annual losses reached $84.6 million. Owlet raised $30 million in private placement, enhancing its financial position for 2023, with efforts focused on achieving profitability and improving working capital. The company aims for break-even EBITDA in the second half of 2023, following significant reductions in operating expenses and a return to strong brand health.

Owlet, Inc. (NYSE: OWLT) will release its fourth quarter 2022 financial results on March 15, 2023, after the market closes. A conference call hosted by CEO Kurt Workman and CFO Kate Scolnick will follow at 4:30 p.m. ET to discuss these results and provide a business update. Interested parties can access the call via telephone or a live audio webcast on Owlet’s Investor Relations website. A replay will be available afterward. Founded in 2012, Owlet aims to empower parents through its digital parenting platform, offering real-time data and insights to enhance parenting experiences.

Owlet, Inc. (NYSE: OWLT) will participate in the Cowen 43rd Annual Health Care Conference from March 6-8, 2023, at the Boston Marriott Copley Place. Co-Founder and CEO Kurt Workman, along with CFO Kate Scolnick, will present on March 7 at 1:30 p.m. EST. Investors can access a live webcast of the presentation via Owlet’s Investor Relations website. A replay will also be available afterward. Owlet, founded in 2012 by parents, strives to empower them with real-time data and insights, ensuring they can enjoy the parenting journey with peace of mind. For more information, visit www.owletcare.com.

Owlet, Inc. (NYSE: OWLT) has successfully completed a private placement of Series A convertible preferred stock and warrants, raising $30 million in gross proceeds. This transaction closed on February 17, 2023, involving both new and existing institutional investors. The Series A preferred stock is convertible into approximately 61.2 million shares of common stock, accompanied by warrants for additional shares at an exercise price of $0.333 each. Owlet plans to utilize the funds for general corporate purposes and strategic initiatives. The securities sold are unregistered under the Securities Act and a registration statement will be filed with the SEC.

Owlet, Inc. has submitted a de novo classification request to the FDA for its Health Notifications software, which will enhance the existing Dream Sock's capabilities by providing live heart rate and oxygen notifications for babies. This submission aims to assist caregivers in monitoring their children's health at home. Owlet’s CEO expressed confidence that FDA authorization could uniquely position the company in pediatric care, leveraging its growing data set. The company previously submitted a 510(k) pre-market notification for a prescription-only in-home monitor.