Owlet, Inc. · NYSE:OWLT
Owlet — Q4 2024 Earnings Presentation
22 slides from Owlet's earnings presentation, Mar 4, 2025
Slide 1: Owlet, Inc. Q4 2024 Financial Results
Owlet, Inc. (NYSE: OWLT) Q4 2024 Financial Results March 4, 2025 March 4, 2025 1
Slide 2: Conference Call Speakers and Contacts
Owlet, Inc. (NYSE: OWLT) | Q4 2024 Financial Results Conference Call Speakers ● Kurt Workman, CEO and Co-Founder ● Jonathan Harris, President and CRO ● Amanda Twede Crawford, CFO ● Jay Gentzkow, VP Investor Relations Webcast ● Domestic Callers: (833) 470-1428 ● International Callers: (404) 975-4839;
Slide 3: Disclaimer
Disclaimer 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 consid
Slide 4: Owlet Business Update
Owlet Business Update | 4
Slide 5: 2024 Recap | A Pivotal Year for Owlet
2024 Recap | A Pivotal Year for Owlet Business Highlights ● Launched two FDA-cleared devices – Dream Sock and BabySat ● Received medically certified CE-Mark for Dream Sock in E.U. ● Received medical device certification for Dream Sock in U.K. ● Expanded global footprint of Dream Sock to 26 countries
Slide 6: Owlet Business Update | Fourth Quarter 2024
Owlet Business Update | Fourth Quarter 2024 Revenue Gross Margin Adj. EBITDA $20.5M 53.5% $0.5M Growth of 37% y/y* Expanded 650 bps y/y Improved $1.2M y/y *Excl. $6M in revenue shifted from Q3ʼ23 to Q4ʼ23 as a result of new Amazon distribution agreement Business Highlights ● Delivering on our financ
Slide 7: Owlet360
NEW ARRIVAL Launched Owlet360 Personalized, everyday insights + smart alerts helping parents navigate every age and stage with confidence. | 7
Slide 8: Owlet360 Targets Massive Pediatric Healthcare Burden
Owlet360 Targets Massive Pediatric Healthcare Burden Pediatric Healthcare Costs: ~$30 Billion, U.S. Annually ER Visit (1) ER Visits $1.3K x 12M $15.6B Pediatric Office Visits (2) Office Visits $169/visit x 80M $13.5B 1 Day in NICU (3) $3.5k x ~307k 1 Day NICU ~$1.1B (1) https://hcup-us.ahrq.gov/report
Slide 9: Drive Global Adoption of Dream Sock
Drive Global Adoption of Dream Sock Domestic ● #1 Baby Monitor in the US in Revenue(1) ● First and only FDA-cleared monitor for pediatric health at home ● Leading Baby Registry Brand: Top brand across Amazon, BabyList, and Target registries Dream Sock Adoption ● ~10% in the US and growing ● Opportun
Slide 10: Drive Global Adoption of Dream Sock
Drive Global Adoption of Dream Sock International ● First and only CE/UK medically cleared monitor for pediatric health at home ● 2024 Dream Sock international growth = 98% y/y ● New Geographies: Exploring expansion into Asia & South America Expansion ● Expanded globally to 26 countries, with more t
Slide 11: Expand Medical + Healthcare Channels
Expand Medical + Healthcare Channels Expanding Access to BabySat ● 6 DMEs accepted for BabySat to end 2024 ● 570,000+ U.S. babies born annually(1) with medical conditions that have potential to benefit from medical-grade, at-home monitoring ● We believe in the future every baby will have access to h
Slide 12: Owlet360 Pediatric Health Subscription
Owlet360 Pediatric Health Subscription 360 Your Babyʼs Health + Sleep Shouldnʼt Be a Mystery Owlet360 gives parents answers and insights, no other platform can provide. Your Babyʼs Morning Stay Ahead of Health In-Depth Historical Data-Powered Parenting Report Changes Trends Support Wake up to a pers
Slide 13: Owlet360 Initial Customer Feedback
Owlet360 Initial Customer Feedback 360 Love it! “I love it!! Definitely helps and gives a peace of Helpful tips mind. ❤” “super helpful tips to improve my sons sleep.” Sleep First time mom “I love to see how my baby slept or is “I love everything about dream insights! It has been a sleeping througho
Slide 14: Financial Highlights
Financial Highlights | 14
Slide 15: Financial Review | Revenue
Financial Review | Revenue Quarterly Revenue Annual Revenue ● $20.5M Q4ʼ24 revenue ● $78.1M FY2024 revenue ● 37% growth y/y excl. revenue shifted from Q3ʼ23 to ● 45% growth y/y Q4ʼ23 as a result of new Amazon distribution agreement ● Highest revenue in Owlet history $ in millions $6.0 $15.2 $15.0 $6
Slide 16: Financial Review | Gross Margin
Financial Review | Gross Margin Quarterly Gross Margin Annual Gross Margin ● 53.5% Q4ʼ24 gross margin ● 50.4% FY2024 gross margin ● 650 bps expansion y/y ● 850 bps expansion y/y ● Highest gross margin in Owlet history $ in millions +850 bps | 16
Slide 17: Financial Review | Adj. EBITDA
Financial Review | Adj. EBITDA Quarterly Adj. EBITDA Annual Adj. EBITDA ● $0.5M Q4ʼ24 adj. EBITDA ● $(2.0)M FY2024 adj. EBITDA ● $1.2M improvement vs. Q4ʼ23 ● $14.3M improvement vs. FY2023 ● Exceeded adj. EBITDA forecast $ in millions Improved $14M+ (1) Adjusted EBITDA is defined as net loss adjuste
Slide 18: 2024 Guidance Walk
2024 Guidance Walk FY24 Guidance FY24 Guidance FY24 Actuals Q2ʼ24 Call - 8/12/24 Q3ʼ24 Call - 11/13/24 Revenue $72.5M – $77.5M Raised low-end of $74M – $77.5M Beat high-end $78.1M (+45% y/y) range $1.5M of range $33.9M – $37.9M Raised low-end of $35.5M – $37.9M Beat high-end Gross Profit $39.3M (+74
Slide 19: Establishing 2025 Guidance
Establishing 2025 Guidance FY 2025 E Revenue $88M – $92M Gross Margin 50% – 52% Adj. EBITDA positive | 19
Slide 20: Q&A
Q&A | 20
Slide 21: Appendix
Appendix | 21
Slide 22: Acute & Chronic Medical Conditions
Acute & Chronic Medical Conditions Respiratory issues – #1 reason for pediatric ER visits(9) 3.6 million babies a year are born in the US (6) 400K+ per year 50-80k per year 80-100K per year 40K per year Babies are born premature and 2.1M RSV outpatient visits with Infants born annually with Babies w