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Owlet (OWLT)
NYSE:OWLT
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Earnings Data
Report Date
Mar 05, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.48Last Year’s EPS
-0.12Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 10, 2021
|% Change Since: -20.37%
|Next Earnings Date:Aug 12, 2021
Earnings Call Sentiment|Positive
Owlet reported robust revenue growth and margin improvements, driven by strong product sales and strategic expansions. However, increased operating expenses and challenges in scaling the medical market present ongoing concerns. The company's financial position has strengthened, and optimism surrounds future growth initiatives, including subscriptions.Company Guidance
During Owlet's Q3 2024 earnings call, the company reported a significant 141% year-over-year increase in net revenue, reaching $22.1 million, primarily driven by global Dream Sock sales. The gross margin expanded by 1,590 basis points to 52%, marking the highest since going public and the sixth consecutive quarter of year-over-year gross margin expansion. Owlet achieved a positive adjusted EBITDA of $0.6 million, improving by $6.1 million from Q3 2023. This quarter also saw the successful rollout of Owlet's subscription service, boasting an 85% retention rate and 60% daily active user engagement. Additionally, the company expanded its BabySat distribution with five new durable medical equipment manufacturers and secured insurance reimbursement with Cigna. Internationally, Owlet saw a 96% increase in revenue, extending its reach to 26 countries. Looking ahead, Owlet raised its full-year 2024 guidance, forecasting net revenue of $74 million to $77.5 million, with gross margins between 48% and 49%, and an adjusted EBITDA loss of $5 million to $3 million.Triple-Digit Revenue Growth
Owlet achieved net revenue of $22.1 million in Q3 2024, representing a 141% year-over-year growth, driven by global Dream Sock sales.
Record Gross Margin and EBITDA
Gross margins increased to 52%, the highest since going public, and adjusted EBITDA was $0.6 million, showing a $6.1 million improvement from the previous year.
Successful Amazon Events
Owlet had record-breaking sales during Amazon Prime Day and Prime Big Deal Days, with Dream Sock revenue up 75% year-over-year.
International Expansion
International revenue grew by 96% year-over-year, with Dream Sock now being shipped to 26 countries across Europe and the UK.
Positive Feedback on Subscription Service
The beta version of Owlet's subscription service achieved an 85% retention rate after the first month.
Improved Financial Position
Owlet completed a follow-on equity offering, raising $9.8 million, and restructured its debt for increased operational flexibility.
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OWLT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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OWLT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $5.35 | $4.79 | -10.47% |
| Aug 12, 2024 | $4.68 | $5.04 | +7.69% |
| May 06, 2024 | $4.45 | $4.10 | -7.87% |
| Mar 07, 2024 | $5.72 | $5.15 | -9.97% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Owlet (OWLT) report earnings?
Owlet (OWLT) is schdueled to report earning on Mar 05, 2025, TBA Not Confirmed.
What is Owlet (OWLT) earnings time?
Owlet (OWLT) earnings time is at Mar 05, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is OWLT EPS forecast?
OWLT EPS forecast for the fiscal quarter 2024 (Q4) is -0.48.
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