Slide 1: Owlet, Inc. Q1 2026 Financial Results
Owlet, Inc. (NYSE: OWLT) Q1 2026 Financial Results May 7, 2026
Slide 2: Conference Call Speakers and Contacts
2026 Confidential | 2 Owlet, Inc. (NYSE: OWLT) | Q1 2026 Financial Results Conference Call Speakers ● Kurt Workman - President, CEO, and Co-Founder ● Amanda Twede Crawford - CFO ● Jay Gentzkow - VP Investor Relations and Corporate Development Webcast ● Domestic Callers: 833-461-5787 ● International
Slide 3: Disclaimer
2026 Confidential | 3 Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). All statements contained in this presentation that do not relate to matters of historical f
Slide 4: Owlet Business Update
2026 Confidential | 4 Owlet Business Update
Slide 5: 2026 Strategic Priorities | Sharpening Our Focus
2026 Confidential | 5 2026 Strategic Priorities | Sharpening Our Focus 1 Owlet360 Subscription and Owlet OnCall Telehealth 2 Win the Markets Weʼre In 3 Operational Efficiency and Profitable Growth
Slide 6: The 4 Year Parenting Loop is a Massive Opportunity for Owlet
2026 Confidential | 6 The 4 Year Parenting Loop is a Massive Opportunity for Owlet (Year 1) (Year 2) (Year 3) (Year 4) 0-12 Months 12-24 Months 0-12 Months 12-24 Months Baby 1 Baby 2 Large, underpenetrated markets of ~20 million children under 24 months of age in our current channels(1) 4X Winning t
Slide 7: Owlet Business Update | First Quarter 2026
2026 Confidential | 7 Owlet Business Update | First Quarter 2026 Revenue Gross Margin Adj. EBITDA $22.5M 54.5% ($1.5)M Growth of 6.4% y/y Expanded 80 bps y/y Down y/y primarily due to tariffs Business Highlights ● Owlet360 subscription engine is thriving ○ 115,000+ paying subscribers to end Q1ʼ26 ○ $
Slide 8: Drive Adoption of Dream Sock & Duo in Core Markets
2026 Confidential | 8 Drive Adoption of Dream Sock & Duo in Core Markets ● Domestic Duo sell-through = 45% growth y/y ● Domestic Dream Sock sell-through = 3% growth y/y ● Dream Sock NPS = 77 ● Overall Blended Product NPS = 71 ● International Revenue = 22% growth y/y ● International Sell-Through = 37
Slide 9: Expand Subscription Platform with Owlet360 and Owlet OnCall
2026 Confidential | 9 Expand Subscription Platform with Owlet360 and Owlet OnCall ● Owlet360 = 115,000 paying subscribers to end Q1ʼ26 ● MRR = surpassed $1 million to end Q1ʼ26 ● Dream Sock U.S. penetration rate increased to 34% ● Rolled out Camera Extended Clips for Dream Sight ○ Extends cloud arch
Slide 10: Financial Highlights
2026 Confidential | 10 Financial Highlights
Slide 11: Financial Review | Q1 2026
2026 Confidential | 11 Financial Review | Q1 2026 Total Revenue Subscription Revenue ● $22.5M Q1ʼ26 total revenue ● Record $2.7M Q1ʼ26 subscription ● 6.4% growth y/y revenue $ in millions
Slide 12: Financial Review | Q1 2026
2026 Confidential | 12 Financial Review | Q1 2026 Overall Gross Margin Subscription Gross Margin ● 54.5% Q1ʼ26 overall gross margin ● 67.4% Q1ʼ26 subscription gross margin ● Expanded 80 bps y/y despite tariffs ● Majority of subscription costs are app store fees $ in millions
Slide 13: Financial Review | Q1 2026
2026 Confidential | 13 Financial Review | Q1 2026 Operating Expenses Adj. EBITDA ● $17.7M Q1ʼ26 total operating expenses ● $(1.5)M Q1ʼ26 adj. EBITDA ● OpEx as a percentage of revenue was ● Down y/y primarily due to tariffs 79% in Q1ʼ26 vs. 66% in Q1ʼ25 $ in millions $ in millions Note: Adjusted EBITD
Slide 14: Updated 2026 Guidance
2026 Confidential | 14 Updated 2026 Guidance Previous New 2026E Guidance Guidance Revenue $126M – $130M $118M – $122M 12% – 15% growth y/y Assumes improved tariff rate Gross Margin 49% – 52% 50% – 52% assumption of 15% Adj. EBITDA $3M – $5M $7M – $9M 250% – 350% growth y/y Note: Adjusted EBITDA is de
Slide 15: Appendix
2026 Confidential | 15 Appendix
Slide 16: Non-GAAP EBITDA Reconciliation
2026 Confidential | 16 Non-GAAP EBITDA Reconciliation
Slide 17: Thank You
2026 Thank You