Owlet, Inc. (OWLT) Reports Q2 Loss of $0.30

Owlet, Inc. (NYSE: OWLT) reported Q2 EPS of ($0.30), versus ($0.06) reported last year. Revenue for the quarter came in at $24.9 million, versus $18.37 million reported last year.

“We had an incredible quarter, recording strong year-over-year and sequential revenue growth, with significant year-over-year margin expansion. These results reflect the growing demand for our Smart Sock and Monitor Duo products as we expand our connected nursery solutions and care platform. We also reached an exciting milestone as we surpassed 1 million babies monitored with the Smart Sock, an important step toward our mission of every baby and every parent having access to technology like that offered by Owlet,” said Kurt Workman, Co-Founder and Chief Executive Officer at Owlet.

Workman continued, “International expansion is key to our mission as well, and our second quarter launches throughout Europe represent great progress. Another important part of our recent, as well as our projected future successes, is having the right people to drive it forward. We believe this week’s on-time release of the brand new Smart Sock Plus product is a testament to the brilliant leadership and talent we’ve added to our team.”

“We believe parents deserve access to the best technology and resources to care for their little ones at home, and we have the capital, the momentum, and the team to deliver on this big vision,” Workman said.

GUIDANCE:

Owlet, Inc. sees FY2021 revenue of $107 million.

For earnings history and earnings-related data on Owlet, Inc. (OWLT) click here.

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