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Owlet (OWLT) investor relations material
Owlet Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue reached $26.1M, up 25.9% year-over-year, driven by strong Dream Sock and Dream Duo sales and the launch of the Owlet360 subscription service.
Gross margin expanded for the ninth consecutive quarter to 51.3%, up 180 basis points year-over-year, reflecting favorable product mix and cost efficiencies.
Adjusted EBITDA was $0.3M, positive for the fifth consecutive quarter and a $0.2M improvement year-over-year.
CEO transition announced: Jonathan Harris to become CEO effective October 1, 2025; Kurt Workman to transition to Executive Chairman.
Owlet360 subscription surpassed 66,000 paying subscribers, with strong growth in recurring revenue, attach, and retention rates.
Financial highlights
Q2 net loss was $37.6M, including a $34.8M non-cash warrant liability adjustment; operating loss improved to $1.9M from $2.2M in Q2 2024.
Q2 gross profit: $13.4M; gross margin: 51.3% (up from 49.5%); operating expenses: $15.3M (58.7% of revenue), down from 60.4% in Q2 2024.
Cash and equivalents at June 30, 2025: $21.8M, up from $16.3M in Q1, aided by increased line of credit draw.
Net cash used in operating activities for the first half of 2025 was $8.2M.
Weighted-average shares outstanding: 15.7M in Q2 2025.
Outlook and guidance
Full-year 2025 revenue guidance raised to $97M–$100M (24%–28% growth year-over-year); gross margin guidance reaffirmed at 46%–50%, factoring in increased tariffs.
Expectation to achieve full-year adjusted EBITDA profitability.
Tariff increases expected to impact gross margin by 5% in Q4; Q3 will see a blended impact.
Management expresses substantial doubt about ability to continue as a going concern within one year due to recurring losses, negative cash flows, and low cash relative to obligations.
Additional financing may be required to fund operations and strategic initiatives; failure to secure funding could materially impact business objectives.
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