Owlet, Inc. · NYSE:OWLT
Owlet — Investor Presentation (September 2024)
29 slides from Owlet's investor presentation, September 2024
Slide 1: Owlet - A New Look
2024 Owlet - A New Look September 2024
Slide 2: Disclaimer
Disclaimer |2 About this Presentation This presentation is being provided to you without any material non-public information of Owlet, Inc. (the “Company”), and is based solely upon information previously provided by the Company in its public releases, filings and announcements. The Company’s manage
Slide 3: Owlet Team
2024 |3 Owlet Team Executives Kurt Workman Jonathan Harris Amanda Twede Crawford Burc Sahinoglu Founder/CEO President/CRO CFO CTO (GoPro & Roku) (Swire Coca-Cola) (Yale & August) Board Independents Melissa Gonzales Zane Burke John Kim Laura Durr President Myriad Genetics CEO of Quantum CPO at Paypal
Slide 4: Our Story
|4 Our Story How it started Since Owletʼs founding in 2013, our shared love for every baby compels us to solve the unsolvable…
Slide 5: Creating a Holistic Experience for Parents
2024 |5 Owlet is the next connected ecosystem to bring technology and data to modern parenting. Creating a Holistic Experience for Parents iRhythm Apple Tesla Zio Patch + Watch + Electric Vehicles + Fleet Dream Sock + Patient Data Health Data Data Health Data Cardiac Health Personal Health Automotiv
Slide 6: Parents around the world have the same questions and concerns for their children
2024 |6 Parents around the world have the same questions and concerns for their children 140M Babies Born Each Year Globally(1) Safety Sickness Sleep Are they breathing? When should I call my Will we ever sleep again? doctor? ____________________ Sources: (1) 2022 - https://population.un.org/wpp/Dow
Slide 7: Leading to the highest rate of primary & urgent care utilization
2024 |7 Leading to the highest rate of primary 94% 126M & urgent care utilization Pediatric Visits in the Peace of Mind US/year 2016 (3) Treat & Release for infants 0-1(1) Inconvenient process just to know if baby is okay Long Travel and Wait Times Exposure to Sickness Is Baby Okay? $931-$1431 ER Vi
Slide 8: Owlet's Dream Sock is the first and only FDA & UK/CE medically cleared monitor
2024 |8 Owletʼs Dream Sock is the first and only FDA & UK/CE medically cleared, over-the-counter monitor for pediatric health at home. 8
Slide 9: Health Platform: Helping Answer Parents' Most Important Questions
2024 |9 Safety Health Platform: Helping Answer Parentsʼ Most Important Questions Health Sleep
Slide 10: Only Owlet: Early Detection Case
Only Owlet: Early Detection Case 2024 | 10
Slide 11: We believe every baby will have a health monitor
2024 | 11 We believe every baby will have a health monitor 31 50 70M adults in the US have a Foundation partners States reached health tracker.(1) Parents want the same for their baby. 21 ~$2M US States Owlet products donated in 2023 (+ Canada and Australia) 40X as many babies pass away during sleep
Slide 12: Only Owlet: Leading the market in brand, position and IP
2024 | 12 Only Owlet: Leading the market in brand, position and IP #1 Brand in Healthy “First of its Kind” Infant Health Business Regulatory Authorizations #1 70 nps 500k 50% 3 12+ Product NPS (2) FDA Authorizations & Clinical & Safety Baby Monitor(1) Users in 2023 Gross Margin (Q2 ʻ24) CE Mark Stud
Slide 13: Expanding Market Opportunity
2024 | 13 Expanding Market Opportunity $8.3B ● Smart Monitors $1.4B estimated spend on smart baby monitors in 2023(1) Expansion into Healthcare 9M babies(2) x $299 Sock + $159 Cam $4.1B Health Data & Services Owletʼs ecosystem of products(3) & new $5.99/mo subscription service x 9M babies in current
Slide 14: Go To Market Opportunity
2024 | 14 Go To Market Opportunity Dream Sock BabySat Subscription Consumer Healthcare Health Data Adoption Expansion & Services(1) $458 MSRP(2) $599 MSRP 65% GM $5.99/mo 50% GM 90% GM $599 LTV Potential $458 LTV potential $918 LTV Potential (1) Owlet’s subscription service is planned to launch late
Slide 15: Growth: US Market Penetration
2024 | 15 Growth: US Market Penetration 10% to 100% Penetration ● #1 Baby Monitor in the US: Top selling Baby Monitor item in Revenue (1) ● Leading Baby Registry Brand: Top brand across Amazon, BabyList and Target registries. ● Parent & Press Recommended brand: Over 1.3M Social Media Followers and o
Slide 16: Growth: International Expansion
2024 | 16 Growth: International 4M to 140M Opportunity Expansion ● CE Med Clearance in Q2 ʻ24: Launched our new medical device across Europe and the UK in June ● Expanding Distribution: CE Med mark now gives access to pharmacies throughout the UE ● Strong Brand Presence: June launch drove over 650M
Slide 17: Growth: Healthcare Expansion
2024 | 17 Growth: Healthcare Expansion $0 to $599 ● DME Distribution: New partnership with Adapt is giving access to caregivers throughout the US ● Reimbursement: Working with multiple insurance companies and Medicare for reimbursement ● Hospital Distribution: Speaking with Childrens of Cincinnati,
Slide 18: Growth: Pediatric Health Subscription
2024 | 18 Growth: Pediatric Health $0 to $5.99/mo Subscription Health Understand babyʼs trends, their Sleep Start each day with confidence Cam Gain a holistic understanding of Owlet was previously a one normal baseline and when to seek attention. with actionable, age-appropriate sleep insights your
Slide 19: Revenue & Margin Growth
2024 | 19 Revenue & Margin Growth TARGET OPERATING KEY AREAS OF GROWTH MODEL Subscription ● Consumer Adoption Medical Intʼl growth & ● Expansion into Healthcare Core expansion Growth ● Health Data & Services Today MARGIN CONTRIBUTION Medical Channels and Subscription could both add significant margi
Slide 20: Q2 2024 Highlights
2024 | 20 Q2 2024 Highlights (2) FDA Clearance (2) FDA $20.7M Revenue Clearance (+58% YOY) 50% Gross Margin (+1000 BPS YOY) (1) ($1.1M) Net Loss (vs ($8.5M) PY)) (2) FDA Clearance (2) FDA Clearance $0.1M Adjusted EBITDA (1) (vs. loss of $4.3M PY) Owlet has gained operational leverage from growing de
Slide 21: Key Operating Metrics
2024 | 21 Key Operating Metrics Contribution Margin(5) LTV/CAC(1) Cash Conversion(2) vs. Operating Expense Trend 4.2 6 days (Q2 2024) (Q2 2024) Revenue/FTE(3) Quick Ratio(4) $0.9M 1.0 (Q2 2024) (Q2 2024) (1) Lifetime value to customer acquisition cost ratio is calculated as the average gross profit
Slide 22: Summary
2024 | 22 Summary #1 Monitor First Medical Clearances Pediatric Health Data Largest Distribution. Most First OTC authorization, Rx Massive data set of infant Engaged Community & Brand Clearance and CE Med health and sleep ready for Affinity. integration with care. *note medical device companies trade
Slide 23: Thank You
2024 | 23 Thank You
Slide 24: Appendix
2024 | 24 Appendix
Slide 25: $30B Cost on Primary and Urgent Care
2024 | 25 $30B Cost on Primary and Urgent Care Pediatric Office Visits (1) ER Visit(2) 1 Day in NICU(3) $169/visit x 80M $1.3K x 12M $3.5k x ~307k ER Visits $15.6B Office Visits $13.5B 1 Day NICU ~$1.1B (1) https://www.aap.org/en-us/Documents/practicet_Profile_Pediatric_Visits.pdf (page 7; 2004-2007),
Slide 26: Acute & Chronic Medical Conditions
2024 | 26 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
Slide 27: Adjusted EBITDA Reconciliation
2024 | 27 Adjusted EBITDA Reconciliation (1) (1) Amounts may not sum due to rounding
Slide 28: Contribution Margin Reconciliation
2024 | 28 Contribution Margin Reconciliation
Slide 29: Capitalization Summary
2024 | 29 Capitalization Summary Cap Table as of August 27, 2024 Common Shares Outstanding 11,735,452 Insider holdings represent 45% of common shares Preferred Shares (CS equivalent) 2,872,668 outstanding. Warrants (CS equivalent) 10,974,303 Stock awards (RSU, PSU, Options) 1,701,761 Management inte