Owlet, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 09:05 pm
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Owlet, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 13.1 million compared to USD 18.3 million a year ago. Net loss was USD 8.5 million compared to USD 11.7 million a year ago. Basic loss per share from continuing operations was USD 1.19 compared to USD 1.48 a year ago.
For the six months, sales was USD 23.8 million compared to USD 39.9 million a year ago. Net loss was USD 20.3 million compared to USD 40.5 million a year ago. Basic loss per share from continuing operations was USD 2.73 compared to USD 5.12 a year ago.
Owlet, Inc. operates as a digital parenting platform company. The Company's platform focuses on giving real-time data and insights to parents. Its products include Owlet Dream Sock, an app to assist children with better sleep; Owlet Cam, a video streaming app to hear and see the baby from anywhere, and Owlet Monitor Duo. The Company offers sock monitor offerings, which include Smart Sock and Dream Sock and Dream Sock Plus. Its Cam offerings include Cam 1 and Cam 2. Its Monitor Duo and Dream Duo offer Sock Monitor offerings paired with the Owlet Cam offerings, combining the intelligence of its Sock Monitor offerings with high-definition video, offering parents the most complete picture of their babyâs sleep. Its accessories product line includes the Owlet Sleeper, a wearable rayon blanket that encourages safe sleep, best for babies ages three-six months old, and an Owlet Sock Travel Case.