Overview

* Owlet Q2 revenue grows 25.9% yr/yr, beating analyst expectations, per LSEG data

* Co announces CEO transition with Jonathan Harris succeeding Kurt Workman

Outlook

* Owlet expects 2025 revenue between $97 mln and $100 mln

* Company anticipates 2025 gross margins of 46% to 50%

Result Drivers

* PRODUCT SALES - Higher sales of Dream Sock and Dream Duo products drove revenue growth

* GROSS MARGIN IMPROVEMENT - Gross margin increased due to favorable product mix and lower costs

* SUBSCRIPTION GROWTH - Owlet360 subscription surpassed 66,000 paying subscribers, boosting recurring revenue

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $26.10 $22.20

Revenue mln mln (4

Analysts

)

Q2 Beat -$0.05 -$0.22

Adjusted (3

EPS Analysts

)

Q2 EPS -$2.37

Q2 Gross 51.3%

Margin

Q2 $15.30

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

* Wall Street's median 12-month price target for Owlet Inc ( OWLT ) is $11.50, about 38.3% above its August 6 closing price of $7.10

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)