Slide 1: Owlet, Inc. Investor Presentation
Owlet, Inc. (NYSE: OWLT) Investor Presentation March 4, 2025
Slide 2: Disclaimer
Confidential | 2 Disclaimer About this Presentation This presentation shall not constitute an offer to sell or a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale is not per
Slide 3: Owlet's Experienced Team
Confidential | 3 Owletʼs Experienced Team Kurt Workman Amanda Twede Jennifer Billington David Kizer President, CEO, & Crawford Chief Revenue Officer Chief Operating Officer Co-Founder Chief Financial Officer Burc Sahinoglu Elizabeth Teran Jay Gentzkow Chief Technology Officer Chief Parent Officer VP
Slide 4: Owlet Case Study: Customer Testimonial
Confidential | 4 Owlet Case Study: Customer Testimonial Only Owlet: Critical Care “My daughter Katherine had been lethargic and not feeding well throughout the day. I didnʼt think much of it as we all know babies can be temperamental. I put her Owlet Dream Sock on her like I always do. Within two ho
Slide 5: Wholistic Health Platform: Arming Parents with Data and Insights
Confidential | 5 Wholistic Health Platform: Arming Parents with Data and Insights Safety Sleep Health
Slide 6: Owlet is Building the World's Largest Pediatric Health Platform
Confidential | 6 Owlet is Building the Worldʼs Largest Pediatric Health Platform The Owlet Advantage Existing Wearable Players iRhythm Apple Oura Zio Patch + Watch + Ring + Patient Data Health Data Health Data Dream Sock + Health Data = Trusted Pediatric Care Cardiac Health Personal Health Personal
Slide 7: The Leading Pediatric Health Platform with Significant Differentiation in the Nursery Ecosystem
Confidential | 7 | The Leading Pediatric Health Platform with Significant Differentiation in the Nursery Ecosystem #1 Brand in Significant Market Largest & Most Pediatric Health Differentiation Engaged Infant Community First #1 71 2 7 63 150M+ 2M+ 1.4M & Only Product FDA International Patents Baby Impre
Slide 8: We've built an amazing, trusted brand.
Confidential | 8 Weʼve built an amazing, trusted brand.
Slide 9: Owlet meets parents on night one.
Confidential | 9 Owlet meets parents on night one. When that first wave of doubt or fear sets in. Weʼre there in the quiet hours of the night, providing real-time insight and a sense of calm.
Slide 10: There is power in being first.
Confidential | 10 There is power in being first. Weʼre not just offering a product — weʼre offering peace of mind at a time when everything feels fragile. And in doing that, we earn the right to become more than a product. We become a trusted partner.
Slide 11: Owlet Provides Support and Insights to Alleviate Parents' Concerns
Confidential | 11 Owlet Provides Support and Insights to Alleviate Parents' Concerns Safety Sickness Sleep Assurance Are they breathing? When should I call my Will we ever sleep Is this normal for my doctor? again? baby? SIDS: #1 cause of infant Respiratory: #1 cause of Lost Sleep: A primary concern
Slide 12: Owlet's Dream Sock is the first and only medically cleared, over-the-counter monitor
Confidential | 12 Owletʼs Dream Sock is the first and only medically cleared, over-the-counter monitor for pediatric healthcare at home(1) (1) Only medically cleared monitor currently available on the market. US FDA clearance (de novo), CE marked, UKCA marked, Australia and New Zealand cleared, South
Slide 13: We Are on the Brink of a Transformative Pediatric Health Opportunity
Confidential | 13 | We Are on the Brink of a Transformative Pediatric Health Opportunity Monetize Expand Deeper Into Data and Growing High-Margin Healthcare with Insights Extend LTV Owlet is the leading pediatric health Subscription Beyond Infants Reimbursement platform, primed to capitalize on a Bu
Slide 14: Opportunity to Expand our Support Beyond the Infant Journey
Confidential | 14 Opportunity to Expand our Support Beyond the Infant Journey While the parenting journey is expansive, our immediate focus should prioritize the early years, specifically across Sleep, Health, and Safety. Owletʼs LTV Expansion Opportunity Owlet Today Family Planning Infancy & Early
Slide 15: Pediatric Data Flywheel Enhancing Owlet's Offering Platform
Confidential | 15 Pediatric Data Flywheel Enhancing Owletʼs Offering Platform Owletʼs Data Flywheel Interconnected Ecosystem of Products Stronger Better Differentiation Products Clinical More Insights Products Purchased Continually Improving Algorithm More Stronger Predictive Insights and Alerts Data
Slide 16: First and Only FDA-Cleared Pediatric Health Monitor with Significant Barriers to Entry
Confidential | 16 First and Only FDA-Cleared Pediatric Health Monitor on the Market with Significant Barriers to Entry With years of effort & significant investment, Owlet meets rigorous standards for clinical efficacy and safety with FDA clearance
Slide 17: Owlet's Operating at the Center of Several Large and Growing Markets
Confidential | 17 Owletʼs Operating at the Center of Several Large and Growing Markets Smart Baby Monitors ~$2B Pediatric Health Costs, Annual, U.S. ~$30B Smart Wearables ~$110B Telehealth ~$160B Note: See Appendix for sources and notes. Owlet is in the early stages of establishing its addressable m
Slide 18: Owlet's Connected Ecosystem Enables Expansion Opportunities
Confidential | 18 Owletʼs Connected Ecosystem Enables Expansion Opportunities FDA Expand LTV Health Clearance Registry Owlet Data Platform New Countries A Sock On Every Baby 18+ Month = Together, we aim to build the worldʼs largest pediatric health and data platform Owlet Owlet360 OnCall New Platfor
Slide 19: Owlet's Multi-Dimensioned Growth Strategy
Confidential | 19 Owletʼs Multi-Dimensioned Growth Strategy Core Domestic International Owlet360 Healthcare Growth Growth Subscription Expansion ● Continued execution on core ● New regulatory clearances and ● Owlet360 unlocking and ● Long-term opportunity for domestic product growth certifications,
Slide 20: Financial Review | Revenue
Confidential | 20 Financial Review | Revenue Quarterly Revenue Record Annual Revenue ● $26.6M Q4ʼ25 revenue ● $105.7M FY2025 revenue ● 29.6% growth y/y ● 35.4% growth y/y ● Highest revenue in Owlet history $ in millions +35.4%
Slide 21: Financial Review | Gross Margin
Confidential | 21 Financial Review | Gross Margin Quarterly Gross Margin Record Annual Gross Margin ● 47.6% Q4ʼ25 gross margin ● 50.6% FY2025 gross margin ● 510 basis point tariff impact in Q4ʼ25 ● 270 basis point tariff impact in FY2025 ● Highest gross margin in Owlet history +28 bps
Slide 22: Financial Review | Operating Expenses
Confidential | 22 Financial Review | Operating Expenses Quarterly Operating Expenses Annual Operating Expenses ● $17.5M Q4ʼ25 total operating expenses ● $61.8M FY2025 total operating expenses ● OpEx as a percentage of revenue was ● LTV to CAC = 4.4 (1) 66% in Q4ʼ25 vs. 90% in Q4ʼ24 ● Revenue / FTE =
Slide 23: Financial Review | Adj. EBITDA
Confidential | 23 Financial Review | Adj. EBITDA Quarterly Adj. EBITDA Record Annual Adj. EBITDA ● $0.1M Q4ʼ25 adj. EBITDA ● $2.0M FY2025 adj. EBITDA ● Tariffs costs primary impact vs. prior year ● $3.8M improvement vs. FY2024 ● Highest adj. EBITDA in Owlet history $ in millions Improved $3.8M+ Note:
Slide 24: Owlet is Building the World's Largest Pediatric Health Platform
Confidential | 24 Owlet is Building the Worldʼs Largest Pediatric Health Platform
Slide 25: Appendix
Confidential | 25 Appendix
Slide 26: Appendix
Confidential | 26 Appendix ● #1 Baby Monitor: Circana, U.S. Store Level Enabled Tracking Service, Baby Monitors, #1 based on dollar share, 6-month and 12-month trailing December 2025. ● 72 Product NPS Score: Owlet Survey, two-week blended NPS, 3/1/2026, 1,900+ respondents; Dream Sock NPS = 77. ● 7 I
Slide 27: Non-GAAP Reconciliation
Confidential | 27 Non-GAAP Reconciliation $ in thousands
Slide 28: Thank You
Confidential | 28 Thank You