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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, Inc. reported record financial results for Q3 2025, achieving significant growth in revenue, gross profit, operating income, and adjusted EBITDA, driven by strong sales of its Dream product line and international expansion [3][4][5]. Financial Performance - Revenue for Q3 2025 was $32.0 million, a 44.6% increase from $22.1 million in Q3 2024, primarily due to higher sales of Dream Sock and Dream Duo products [4]. - Gross profit reached $16.2 million with a gross margin of 50.6%, down from 52.2% in Q3 2024, attributed to tariff impacts [5]. - Operating income was $1.2 million, a turnaround from an operating loss of $4.8 million in Q3 2024 [8]. - Net income for Q3 2025 was $4.1 million, compared to a net loss of $5.6 million in Q3 2024 [8]. - Adjusted EBITDA improved to $1.6 million, up from $0.6 million in Q3 2024 [8]. Operational Highlights - Owlet360 subscription service surpassed 85,000 paying subscribers, with plans for international market expansion [3]. - The company experienced approximately 171% year-over-year growth in international markets, with a new regulatory clearance in India expected to support a product launch in early 2026 [3]. - Owlet is piloting its telehealth initiative, Owlet OnCall, to unlock healthcare channels [3]. Financial Outlook - For the full year 2025, Owlet expects revenue between $103 million and $106 million, representing a year-over-year growth of 32% to 36% [10]. - Gross margins are anticipated to be in the range of 48% to 50%, factoring in increased tariff costs [10]. - Adjusted EBITDA is projected to be between $1.25 million and $2 million [10]. Company Overview - Owlet, Inc. is a leading pediatric health platform, recognized for its FDA-cleared wearable pediatric monitors, providing hospital-grade technology for home use [23]. - The company aims to enhance pediatric wellness by integrating advanced medical technology with user-friendly design, having gained the trust of over 2.5 million parents since its inception [23].

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 Performance - Owlet's Q2 2025 revenue reached $26.1 million, representing a 25.9% year-over-year growth[10, 26] - The gross margin for Q2 2025 was 51.3%, an expansion of 180 basis points year-over-year[10, 26] - Adjusted EBITDA for Q2 2025 was $0.3 million, showing a $0.2 million improvement compared to Q2 2024[10, 32] - Total operating expenses for Q2 2025 were $15.3 million, with OpEx as a percentage of revenue at 58.7%, compared to 60.4% in Q2 2024[32] Business Highlights - Owlet experienced a strong 26% year-over-year revenue growth[11] - The company achieved its 9th consecutive quarter of gross margin expansion year-over-year[11] - Owlet marked its 5th consecutive quarter of adjusted EBITDA profitability[11] - Owlet360 subscription service has over 66,000 paying subscribers[11, 17] Dream Sock Performance - Domestic Dream Sock sell-through increased by 37% year-over-year[14] - Dream Sock registry additions grew by 54% year-over-year[14] - Total sell-through units on U.S Amazon Prime Day sales increased 72% year-over-year[14] - Total sell-through units on U.K Amazon Prime Day sales increased 144% year-over-year[14] Updated Guidance - The company updated its FY 2025 revenue guidance to $97 million - $100 million, projecting a 24-28% growth year-over-year[34] - The gross margin guidance for FY 2025 remains at 46% - 50%, including new, increased tariff costs[34] - The company fully expects to be positive in Adj EBITDA, including new, increased tariff costs[34]

Owlet, Inc. (NYSE: OWLT) Q4 2024 Financial Results March 4, 2025 Owlet, Inc. (NYSE: OWLT) | Q4 2024 Financial Results Conference Call Speakers Webcast Contacts | 2 ● Kurt Workman, CEO and Co-Founder ● Jonathan Harris, President and CRO ● Amanda Twede Crawford, CFO ● Jay Gentzkow, VP Investor Relations ● Domestic Callers: (833) 470-1428 ● International Callers: (404) 975-4839; Access Code: 492081 ● Webcast Archive Available: investors.owletcare.com 1 March 4, 2025 Non-GAAP Financial Measures In addition to t ...