Owlet, Inc. (NYSE: OWLT) Q4 & FY 2025 Financial Results March 5, 2026 March 4, 2025 2026 Confidential | 2 Owlet, Inc. (NYSE: OWLT) | Q4 2025 Financial Results Conference Call Speakers Webcast Contacts ● Jonathan Harris, President & CEO ● Amanda Twede Crawford, CFO ● Jay Gentzkow, VP Investor Relations and Corporate Development ● Domestic Callers: (833) 470-1428 ● International Callers: (404) 975-4839 ○ Access Code: 211338 ● Webcast Archive Available: investors.owletcare.com ● Website: investors.owletcare.co ...

Core Insights - Owlet, Inc. reported record financial results for Q4 and full year 2025, with revenue reaching $105.7 million, a 35.4% increase from 2024, demonstrating the scalability and resilience of its business model [1][3] Financial Highlights Q4 2025 Results - Revenue for Q4 2025 was $26.6 million, up 29.6% from $20.5 million in Q4 2024, driven by higher sales of the Dream product suite and Owlet360 subscription service [1][3] - Q4 gross profit was $12.6 million, an increase of $1.7 million from Q4 2024, with a gross margin of 47.6% [1][3] - Q4 adjusted EBITDA was $0.1 million, down from $0.5 million in Q4 2024 [1][3] - Q4 net loss was $9.2 million, slightly higher than the net loss of $9.1 million in Q4 2024 [1][3] Full Year 2025 Results - Full year revenue was $105.7 million, compared to $78.1 million in 2024, marking a 35.4% increase [1][3] - Full year gross profit reached $53.5 million, up $14.2 million from 2024, with a gross margin of 50.6% [1][3] - Full year adjusted EBITDA was $2.0 million, improving by $3.8 million compared to a loss of $1.8 million in 2024 [1][3] - Full year net loss was $39.7 million, significantly higher than the net loss of $12.5 million in 2024, largely due to a non-cash adjustment related to common stock warrants [1][3] 2026 Financial Outlook - For Q1 2026, Owlet expects revenue between $20 million and $21 million, with gross margins of 50% to 52% [1][3] - For the full year 2026, revenue is projected to be between $126 million and $130 million, representing a growth of 19% to 23% over 2025 [1][3] - Full year 2026 adjusted EBITDA is expected to be between $3 million and $5 million, indicating a growth of 50% to 150% compared to 2025 [1][3] Business Strategy and Developments - The launch of the Owlet360 subscription service has strengthened customer relationships and diversified revenue streams, with over 110,000 paying subscribers [1][3] - Owlet is positioning itself as a comprehensive pediatric health platform, leveraging its unique pediatric dataset to redefine modern parenting [1][3]

Core Viewpoint - Owlet, Inc. has announced a strategic partnership with PromptCare to enhance its clinical and durable medical equipment presence in the U.S. market, facilitating broader access to its FDA-cleared pulse oximeter, BabySat [1] Group 1: Partnership Details - The partnership with PromptCare aims to expand Owlet's reach in key U.S. regions [1] - PromptCare is recognized as a leading national provider of respiratory services and durable medical equipment, specializing in both adult and pediatric care [1] Group 2: Product Offering - The collaboration supports the distribution of Owlet's prescription pulse oximeter, BabySat, which has received FDA clearance [1]

Core Insights - Owlet, Inc. (OWLT) is enhancing its healthcare partnerships to broaden adoption beyond traditional consumer channels, aiming to expand use cases for its monitoring products and improve long-term visibility in regulated environments [1][11] Group 1: Healthcare Partnerships - The company's strategy focuses on collaborating with healthcare systems and retail healthcare partners to engage with parents and caregivers earlier in the care journey, supporting use cases beyond routine at-home monitoring [2] - In Q3 2025, Owlet launched a consignment agreement with the Children's Hospital of the King's Daughters, marking the first instance of Owlet devices being prescribed in a hospital setting, allowing for insurance prior authorization and continued home monitoring [3] - Owlet is also pursuing additional hospital partnerships to replicate this model, while continuing to work with retail healthcare partners to enhance access and awareness [4][11] Group 2: Competitive Landscape - The connected infant monitoring and digital health market is highly competitive, with companies like Masimo and iRhythm Technologies influencing adjacent segments [6] - Masimo is recognized for its medical-grade pulse oximetry and patient monitoring, emphasizing the technical complexity and investment needed for high-quality devices [7] - iRhythm Technologies provides a comparison in remote cardiac monitoring, showcasing how a combination of devices and long-term services can foster sustained engagement [8] Group 3: Market Performance and Estimates - Owlet's shares have increased by 75.1% over the past six months, outperforming the Zacks Electronics-Miscellaneous Products industry's growth of 42.5% and the Zacks Computer and Technology sector's rise of 16.2% [10] - The Zacks Consensus Estimate for OWLT's 2026 loss per share has improved to 25 cents from 88 cents over the past 60 days, with an expected loss of 12 cents per share in 2025 [13]

Core Insights - U.S. stock markets are experiencing significant growth in 2025, with the Dow, S&P 500, and Nasdaq Composite up 12.6%, 16.7%, and 22.1% respectively, following a strong rally over the past two years [1] - The potential cut in the benchmark interest rate by the Fed may further support this rally, alongside strong personal spending expected to boost economic growth [1] Stock Performance - Several stocks have shown notable price strength, particularly those on a recent bull run, indicating a high chance of continued momentum [2][7] - The following stocks have been identified as potential winners: Owlet Inc. (OWLT), Pangaea Logistics Solutions Ltd. (PANL), Dycom Industries Inc. (DY), Seanergy Maritime Holdings Corp. (SHIP), and Strattec Security Corp. (STRT) [2][7] Screening Parameters - Stocks must show a percentage change in price greater than zero over the last four weeks and greater than 10% over the last twelve weeks to indicate sustained momentum [4] - A Zacks Rank of 1 (Strong Buy) and an average broker rating of 1 are also criteria for selection, along with a current price above $5 and trading near 52-week highs [5][6] Individual Stock Analysis - **Owlet Inc. (OWLT)**: Stock price increased by 57.7% over the past four weeks, with an expected earnings growth rate of 79.7% for next year and a 27.3% improvement in earnings estimates [8] - **Pangaea Logistics Solutions Ltd. (PANL)**: Stock price rose by 23% in the last four weeks, with an expected earnings growth rate of 30% and over 100% improvement in earnings estimates [10] - **Dycom Industries Inc. (DY)**: Stock price climbed 22.8% recently, with an expected earnings growth rate of 42.3% and a 36.9% increase in earnings estimates [12] - **Seanergy Maritime Holdings Corp. (SHIP)**: Stock price surged by 22.2% over the past four weeks, with an expected earnings growth rate of 39.1% and a 30.9% improvement in earnings estimates [13] - **Strattec Security Corp. (STRT)**: Stock price advanced by 17.4% recently, with an expected earnings growth rate of -2.6% for the current year but a 23.3% improvement in earnings estimates [15]

Core Insights - Small-cap stocks have rebounded in 2025 due to Fed rate cuts, with benchmarks like Russell 2000 increasing by 13% and S&P 600 by 5.3% year to date [1][10] - Lower borrowing costs from reduced interest rates support small businesses, which typically operate on thin profit margins [2][10] - Small-cap companies have growth potential and are less exposed to international market fluctuations, although they may exhibit higher volatility compared to larger firms [3] Company Summaries - **Allot Ltd. (ALLT)**: A provider of network intelligence and security solutions, with expected revenue and earnings growth rates of 13.3% and 15.9% respectively for next year. The Zacks Consensus Estimate for earnings has improved by 4.2% over the last 30 days [7][8] - **Seanergy Maritime Holdings Corp. (SHIP)**: A pure-play Capesize ship-owner with an expected revenue growth rate of 8.2% and earnings growth rate of 39.1% for next year. The Zacks Consensus Estimate for earnings has increased by 30.9% over the last 30 days [11] - **Isabella Bank Corp. (ISBA)**: A community bank offering personal and commercial lending, with expected revenue and earnings growth rates of 9.4% and 16.3% respectively for next year. The Zacks Consensus Estimate for earnings has improved by 15.4% over the last 60 days [12][13] - **Owlet Inc. (OWLT)**: Provides a digital parenting platform with expected revenue and earnings growth rates of 22% and 79.7% respectively for next year. The Zacks Consensus Estimate for earnings has increased by 27.3% over the last 30 days [14][15] - **Intellicheck Inc. (IDN)**: Develops wireless technology and identity systems, with expected revenue and earnings growth rates of 10.3% and 66.7% respectively for next year. The Zacks Consensus Estimate for earnings has improved by 66.7% over the last 30 days [16][18]

Core Insights - Owlet has partnered with Locus Health to enhance infant health management by integrating data from Owlet's FDA-cleared device, BabySat, into Locus Health's remote patient monitoring platform, allowing healthcare providers secure access to vital infant health information post-hospital discharge [2][3][4] Company Overview - Owlet, Inc. is a pioneer in smart infant monitoring, having monitored over 2.5 million babies and providing parents with reliable tools to track key vitals [9][10] - Locus Health specializes in remote care management software, particularly for vulnerable pediatric patients, and has been recognized for its outcomes-based solutions [6][11] Partnership Details - The collaboration aims to bridge the gap between hospital and home care for nearly 500,000 babies transitioning from ICU each year in the U.S., particularly those with ongoing medical needs [5] - The integration will allow clinicians to monitor key vital signs such as oxygen saturation and pulse rate, facilitating early detection of concerning trends and timely interventions [6] Strategic Goals - The partnership reflects Owlet's commitment to providing accessible, high-quality care for infants and their families, marking a significant step in expanding its clinical partnerships in pediatric healthcare [8] - Owlet's integration with Locus Health is expected to enhance workflow efficiency for healthcare providers while minimizing the burden on parents during challenging times [6]

Owlet, Inc. (NYSE: OWLT) Q3 2025 Financial Results November 13, 2025 1 March 4, 2025 Owlet, Inc. (NYSE: OWLT) | Q3 2025 Financial Results Conference Call Speakers Webcast Contacts Confidential | 2 ● Jonathan Harris, CEO & President ● Amanda Twede Crawford, CFO ● Jay Gentzkow, VP Investor Relations and Corporate Development ● Domestic Callers: (833) 470-1428 ● International Callers: (646) 844-6383 ○ Access Code: 428622 ● Webcast Archive Available: investors.owletcare.com ● Website: investors.owletcare.com ● ...

Core Insights - Owlet has partnered with Rhapsody to integrate infant health data from its BabySat pulse oximeter into electronic health record (EHR) systems, enhancing data sharing between home and hospital settings [2][3][4] Company Overview - Owlet, Inc. is a pioneer in smart infant monitoring, offering FDA-cleared wearable pediatric monitors and innovative software that provides real-time health insights to parents [6][7] - The company has gained the trust of over 2.5 million parents since its inception in 2012, creating one of the largest collections of pediatric health data globally [7] Partnership Details - The collaboration with Rhapsody aims to create a secure, standards-based pathway for pediatric data, allowing clinicians to access and record vital information seamlessly [3][5] - This integration is expected to simplify data connectivity, enabling hospitals to scale their pediatric remote patient monitoring (RPM) programs effectively [4][5] Market Impact - The partnership reflects a growing interest in connected monitoring solutions within healthcare systems across the nation, positioning Owlet to bridge the gap between home monitoring and hospital care [5] - Owlet's focus on clinically validated insights aims to empower families and enhance the quality of care provided by clinicians [5]

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $26,100,000, representing a 25.9% increase year over year, contributing to the largest first half revenue performance in company history [5][14][27] - Gross margins expanded by 180 basis points to 51.3%, marking the ninth consecutive quarter of year-over-year gross margin expansion [14][28] - Adjusted EBITDA was $300,000, indicating the fifth consecutive quarter of adjusted EBITDA profitability [5][14][31] - Net loss for Q2 was $37,600,000, primarily due to a non-cash mark to market adjustment related to common stock warrant liability [29][30] Business Line Data and Key Metrics Changes - Domestic sell-through growth for DreamSoc was 37% year over year, with a 54% increase in total DreamSoc additions to registries [16][20] - International revenue decreased to $1,800,000 from $4,800,000 year over year, attributed to a timing shift of open orders to Q3 [20][21] - The Outlet 360 subscription surpassed 66,000 paying subscribers, showing strong growth in monthly recurring revenue and retention rates [22][63] Market Data and Key Metrics Changes - Owlette maintained market leadership in the baby monitor category, increasing its share of total dollars spent on baby monitors compared to the prior year [17] - The overall category for baby monitors is experiencing the highest consumer spending in five years [17] - International sell-through units in the UK increased by 144%, while France and Germany saw increases of over 200% and 100% year over year, respectively [21] Company Strategy and Development Direction - The company is focused on transforming into a comprehensive pediatric health platform, emphasizing the expansion of the Outlet 360 subscription and increasing customer lifetime value [6][24] - Plans to roll out telehealth services by the end of the year, enhancing the integration of health data with healthcare providers [24][58] - The company is exploring alternative manufacturing locations to mitigate the impact of increased tariffs [70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued momentum into the second half of the year and raised full-year guidance based on strong Q2 performance [6][32] - The leadership transition is expected to further accelerate growth, with Jonathan Harris taking over as CEO [7][12] - Management acknowledged the fluidity of the macroeconomic environment, particularly regarding tariff policies, which could impact future guidance [32] Other Important Information - The company announced an agreement to exchange Series A and Series B warrants for common stock, simplifying its capital structure [30][73] - The company received recognition for innovation in baby care, winning awards for its DreamSoc product [19][20] Q&A Session Summary Question: Can you quantify the tariff cost impact on cost of goods sold? - The impact was about $500,000 in Q2, with expectations of a 5% impact on gross margin in Q4 due to increased tariffs [36][37] Question: What is the progress on the healthcare side with DME vendors? - Revenue from healthcare remains inconsequential, but adoption of Medicaid plans is increasing, and integration with CHKD is progressing [42] Question: What is the process for bringing another hospital on board? - The process involves committee approvals and integration into existing remote patient monitoring platforms [68] Question: Is there a strategy to bring manufacturing to the US or another country with lower tariffs? - The company is actively exploring other manufacturing sites to diversify sourcing and minimize tariff impacts [70]