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Owlet (OWLT) lifts 2026 margin outlook after strong Q2 revenue jump

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8-K

Rhea-AI Filing Summary

Owlet, Inc. reported a strong second quarter for the period ended June 30, 2026, with revenue of $33.9 million, up 29.9% from $26.1 million a year earlier, driven by broad-based growth and momentum in subscription services. Subscription revenue reached $3.2 million, up from $0.9 million, and overall GAAP gross margin improved to 64.4%; excluding a $3.5 million tariff refund, gross margin was 54.0%, about 270 basis points higher year-over-year.

Operating income was $1.7 million, compared to a loss of $1.7 million in Q2 2025, and GAAP net loss narrowed sharply to $0.6 million from $37.4 million. Non-GAAP adjusted EBITDA was $6.7 million (or $2.9 million excluding a $3.75 million tariff refund) versus $0.5 million a year earlier. For 2026, Owlet now expects revenue of $118–$122 million (unchanged), but has raised its outlook for gross margin to 53–55% and adjusted EBITDA to $10.75–$12.75 million, reflecting the one-time tariff refund. Management also disclosed it will revise prior-period financial statements for immaterial errors, primarily overstatement of stock-based compensation related to its employee stock purchase plan.

Positive

  • Revenue grew 29.9% year-over-year to $33.9 million in Q2 2026, reflecting broad-based growth and strong subscription momentum.
  • Subscription revenue more than tripled to $3.2 million from $0.9 million, highlighting progress in building a recurring revenue base.
  • GAAP gross margin rose to 64.4%; even excluding a $3.5 million tariff refund, gross margin of 54.0% was about 270 basis points higher year-over-year.
  • Profitability metrics improved sharply: operating income of $1.7 million vs. a $1.7 million loss, and GAAP net loss narrowed to $0.6 million from $37.4 million.
  • Adjusted EBITDA reached $6.7 million (or $2.9 million excluding the tariff refund), up from $0.5 million, indicating much stronger underlying earnings.
  • Full-year 2026 outlook now calls for higher gross margin (53–55%) and higher adjusted EBITDA ($10.75–$12.75 million), incorporating the tariff refund benefit.

Negative

  • Owlet remains unprofitable on a GAAP basis, with Q2 2026 net loss of $0.6 million and six-month net loss of $3.9 million.
  • Operating expenses increased to $20.1 million from $15.1 million in Q2 2025, driven by higher marketing spend and severance costs.
  • Year-to-date net cash used in operating activities was $5.1 million, indicating continued cash burn despite improved earnings metrics.
  • Management identified (primarily overstated stock-based compensation) and will revise 2024–2025 and early 2026 periods, highlighting a need for stronger financial controls.

Filing Explained

Broader prior-period revisions remain pending in the August 14 Form 10-Q.

This Form 8-K, which reports specified material events, furnishes Owlet's second-quarter results and preliminary, unaudited financial statements; the filing's current state is reported results, with additional accounting revisions still pending.

Management says the identified historical errors were not material to previously issued statements, but would be material if recorded in the second quarter, so the company will revise the March 2026, 2025 quarterly and annual, and 2024 and 2025 annual periods.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q2 2026 Revenue $33.9 million Three months ended June 30, 2026; up 29.9% from $26.1 million in Q2 2025
Q2 2026 Subscription Revenue $3.2 million Three months ended June 30, 2026; increase of $2.4 million vs Q2 2025
Q2 2026 Gross Margin (GAAP) 64.4% Second quarter 2026 gross margin including $3.5 million tariff refund impact
Q2 2026 Gross Margin ex-refund 54.0% Second quarter 2026 gross margin excluding $3.5 million tariff refund; ~270 bps higher YoY
Q2 2026 Net Loss $0.6 million GAAP net loss for the three months ended June 30, 2026, vs $37.4 million in Q2 2025
Q2 2026 Adjusted EBITDA $6.7 million Non-GAAP adjusted EBITDA for Q2 2026 vs $0.5 million in Q2 2025
2026 Revenue Guidance $118 to $122 million Full-year 2026 total revenue outlook, unchanged from previous guidance
Net Cash Used in Operating Activities $5.1 million Net cash used in operating activities for the six months ended June 30, 2026
Adjusted EBITDA financial
"Record Q2 Adjusted EBITDA (non-GAAP) of $2.9 million excluding $3.75 million in tariff refund"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
stock-based compensation financial
"These errors primarily relate to the overstatement of stock-based compensation expense due to valuation"
Stock-based compensation is when a company pays employees, directors or consultants with shares or the right to buy shares instead of or in addition to cash. It matters to investors because issuing stock or options spreads ownership thinner (like cutting a pie into more slices), which can reduce each existing share’s claim on profits and can also change reported earnings; investors watch it to assess true cost of running the business and how management is incentivized.
IEEPA tariff refund financial
"our updated full year 2026 financial outlook below reflects the one-time IEEPA tariff refund recognized"
mezzanine equity financial
"Total mezzanine equity | | 15.7 | | | 16.4 |"
Mezzanine equity is a layer of financing that sits between bank loans and full ownership, combining elements of borrowed money and equity. It often gives lenders higher potential returns in exchange for taking more risk, sometimes with the option to convert into ownership or receive extra payments; think of it as a middle seat that pays more because it’s less secure than front-row debt. Investors watch it because it affects a company’s debt risk, potential dilution of ownership, and expected returns.
common stock warrant liability adjustment financial
"Common stock warrant liability adjustment | (0.1) | | | (34.8) |"
Staff Accounting Bulletin No. 99 financial
"in accordance with the Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin No. 99"
Revenue $33.9 million Up 29.9% from $26.1 million in Q2 2025
GAAP Net Loss $0.6 million Improved from $37.4 million net loss in Q2 2025
Adjusted EBITDA $6.7 million Increased from $0.5 million in Q2 2025
Subscription Revenue $3.2 million Up from $0.9 million in Q2 2025
Guidance

For 2026, Owlet targets revenue of $118–$122 million, gross margin of 53–55%, and adjusted EBITDA of $10.75–$12.75 million, reflecting a one-time tariff refund benefit.

FAQ

How did Owlet (OWLT) perform financially in Q2 2026?
Owlet reported Q2 2026 revenue of $33.9 million, up 29.9% from $26.1 million in Q2 2025. GAAP net loss narrowed to $0.6 million from $37.4 million, and adjusted EBITDA improved to $6.7 million from $0.5 million.

What were Owlet (OWLT)’s subscription results in Q2 2026?
Subscription revenue reached $3.2 million in Q2 2026, up from $0.9 million in Q2 2025. Subscription gross margin was 68.4%, reflecting the company’s focus on building its Owlet360 subscription platform and higher-margin recurring revenue.

How did Owlet’s gross margin and profitability change in Q2 2026?
GAAP gross margin was 64.4% in Q2 2026; excluding a $3.5 million tariff refund, gross margin was 54.0%, about 270 basis points higher year-over-year. Owlet generated $1.7 million in operating income versus a $1.7 million loss previously.

What is Owlet (OWLT)’s updated 2026 financial outlook?
For 2026, Owlet expects revenue of $118–$122 million, unchanged from prior guidance. It raised its gross margin outlook to 53–55% and adjusted EBITDA to $10.75–$12.75 million, reflecting the one-time tariff refund benefit recognized in Q2.

Is Owlet revising any of its prior financial statements?
Yes. Management identified immaterial errors, primarily overstatement of stock-based compensation from employee stock purchase plan valuations. Owlet will revise 2025, 2024, and certain 2026 periods, with revisions expected in the Q2 2026 Form 10-Q.

What does the tariff refund mean for Owlet (OWLT)’s results and outlook?
Owlet recognized a $3.5 million IEEPA tariff refund in cost of goods sold and $3.75 million in adjusted EBITDA in Q2 2026. This one-time benefit also lifted the 2026 gross margin and adjusted EBITDA guidance ranges.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Understanding 8-K Material Events →
0001816708FALSE00018167082026-08-112026-08-11

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________
FORM 8-K
____________________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): August 11, 2026
____________________________
OWLET, INC.
(Exact name of registrant as specified in its charter)

Owlet Logomark (JPG).jpg
____________________________
Delaware001-3951685-1615012
(State or other jurisdiction
of incorporation)		(Commission
File Number)		(I.R.S. Employer
Identification No.)
2940 West Maple Loop Drive, Suite 203
Lehi, Utah
84048
(Address of principal executive offices)(Zip Code)
(844) 334-5330
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
____________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Class A Common Stock, $0.0001 par value per share
OWLTNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o


Item 2.02. Results of Operations and Financial Condition.
On August 11, 2026, Owlet, Inc. (the “Company”) issued a press release reporting its financial results for the three months ended June 30, 2026, and other information. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Item 2.02, including the Exhibit 99.1 furnished under Item 9.01, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section. Furthermore, the information in this Item 2.02, including the Exhibit 99.1 furnished under Item 9.01, shall not be deemed incorporated by reference into the filings of the Company under the Securities Act of 1933 or the Exchange Act.

Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No.		Description
99.1
Press Release, issued by Owlet, Inc. on August 11, 2026.
104Cover Page Interactive Data file (the cover page XBRL tags are embedded within the Inline XBRL document).


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Owlet, Inc.
Date: August 11, 2026By:/s/ Amanda Crawford
Name:Amanda Crawford
Title:Chief Financial Officer


Owlet Announces Second Quarter 2026 Financial Results

LEHI, Utah, August 11, 2026 - Owlet, Inc. (“Owlet” or the “Company”) (NYSE: OWLT), the pioneer of smart infant monitoring, today reports financial results for the second quarter ended June 30, 2026. Owlet’s President, Chief Executive Officer, and Co-Founder, Kurt Workman, and Chief Financial Officer, Amanda Twede Crawford, will host a conference call to review the Company’s results and provide a business update today, August 11, 2026, at 4:30 p.m. ET.

Q2 2026 Financial Highlights:
•Record Q2 Revenue of $33.9 million, up 29.9% from Q2 2025
•Record Q2 Subscription Revenue of $3.2 million, up $2.4 million from Q2 2025
•Q2 Gross Margin of 64.4%. Excluding $3.5 million in tariff refund impact, gross margin of 54.0%, up 270 basis points from Q2 2025
•Q2 Net Loss of $0.6 million. Excluding $3.75 million in tariff refund impact, net loss of $4.4 million, compared to net loss of $37.4 million in Q2 2025
•Record Q2 Adjusted EBITDA (non-GAAP) of $2.9 million excluding $3.75 million in tariff refund impact, compared to $0.5 million in Q2 2025; $6.7 million of Adjusted EBITDA including tariff refund impact

“Owlet delivered an exceptional second quarter, with record quarterly revenue, gross profit, and adjusted EBITDA,” said Kurt Workman, Owlet’s President, Chief Executive Officer, and Co-Founder. “We are executing across each of our strategic growth areas, and it is showing up in our results — strong topline growth, standout international momentum, and continued Owlet360 subscription platform growth. We believe our biggest opportunity from here is growing subscribers, and that is exactly where the company is focused.”

“We believe our competitive position has never been stronger,” Workman continued. “We have the first and only FDA-cleared baby monitor on the market, and we set another record for market share in the quarter. Owlet has numerous growth levers – winning new families, building the subscription platform with Owlet360, expanding the opportunity in pediatric telehealth, and scaling internationally – all anchored by our unique pediatric dataset.”

“Our strategy from here is straightforward: firmly position Owlet as a data and services platform through subscription, win approximately one million new customers per year, and keep those families with us for at least two years. Over time, we believe executing that framework points toward a recurring base of more than one million subscribers, and a more durable, higher-value Owlet.”

Financial Results for the Second Quarter Ended June 30, 2026

Revenue for the second quarter of 2026 was $33.9 million, compared to revenue in the second quarter of 2025 of $26.1 million, an increase of 29.9%. The increase was due to broad-based growth and continued momentum in subscription.

Subscription revenue for the second quarter of 2026 was $3.2 million, compared to subscription revenue in the second quarter of 2025 of $0.9 million, an increase of $2.4 million.

Cost of revenue for the second quarter of 2026 was $12.0 million with a GAAP gross margin of 64.4%, compared to cost of revenue of $12.7 million with a GAAP gross margin of 51.3% for the second quarter of 2025. Overall gross margin was 54.0%, excluding $3.5 million in tariff refund impacts, increasing approximately 270 basis points year-over-year, primarily reflecting growth in revenue from our Owlet360 subscription service as well as favorable product mix and fixed cost absorption.

Subscription gross margin for the second quarter of 2026 was 68.4%.



Operating expenses, including stock-based compensation, were $20.1 million for the second quarter of 2026, compared to $15.1 million for the same period in 2025. Operating costs increased year-over-year primarily due to higher marketing spend as Prime Day promotional timing shifted from Q3 into Q2, as well as severance costs, including stock-based compensation.

Operating income was $1.7 million for the second quarter of 2026, compared to operating loss of $1.7 million for the second quarter of 2025.

Net loss was $0.6 million for the second quarter of 2026, compared to net loss of $37.4 million for the second quarter of 2025.

Adjusted EBITDA (non-GAAP) was $6.7 million for the second quarter of 2026, compared to $0.5 million for the second quarter of 2025. Excluding $3.75 million in tariff refund impact, Adjusted EBITDA (non-GAAP) was $2.9 million.

Net loss per share was $0.05 for the second quarter of 2026, compared to net loss per share of $2.35 for the second quarter of 2025. Adjusted net income per share (non-GAAP) was $0.20 for the second quarter of 2026, compared to adjusted net loss per share of $0.04 for the same period in 2025.

Updated 2026 Financial Outlook

Our updated full year 2026 financial outlook below reflects the one-time IEEPA tariff refund recognized in the second quarter of 2026 and a measured view of the second half. Excluding the refund, our underlying expectations for the year are essentially unchanged.
•Total Revenue is expected to be in the range of $118 to $122 million, unchanged from our previous guidance.
•Gross Margin is expected to be in the range of 53% to 55%, compared to our previous guidance of 50% to 52%. The increase reflects only the one-time $3.5 million tariff refund benefit to COGS recognized in the second quarter.
•Adjusted EBITDA is expected to be in the range of $10.75 to $12.75 million, compared to our previous guidance of $7 to $9 million. The increase reflects only the one-time $3.75 million tariff refund benefit to Adjusted EBITDA recognized in the second quarter.

The outlook provided above constitutes forward-looking information within the meaning of applicable securities laws and is based on a number of assumptions and subject to a number of risks. See cautionary note regarding “Forward-looking Statements” below.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). All statements contained in this presentation that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the Company’s expected financial performance, including the Company’s financial outlook, the timing, scope, and potential impact of global regulatory clearances, approvals, certifications and/or classifications, growth prospects, future operational efficiencies or results, the Company’s product, subscription, telehealth and artificial intelligence strategies, initiatives, and development plans, expectations regarding customer acquisition, retention, subscriber base targets, and long-term business model positioning, and changes in senior management. In some cases, you can identify forward-looking statements by terms such as “estimate,” “may,” “believes,” “plans,” “expects,” “anticipates,” “intends,” “goal,” “potential,” “upcoming,” “outlook,” “guidance,” the negation thereof, or similar expressions, although not all forward-looking statements contain these identifying words. Forward-looking statements are based on the Company’s expectations at the
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time such statements are made, speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors. For all such forward-looking statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act. The Company’s actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by our forward-looking statements. Many important factors could affect the Company’s future results and cause those results to differ materially from those expressed in or implied by the Company’s forward-looking statements. Such factors include, but are not limited to, (i) the commercial success of Owlet’s products, including its subscription services, and the Company’s ability to support, scale and maintain its subscription services; (ii) the regulatory pathway for Owlet’s products, including submissions to, actions taken by and decisions and responses from regulators, such as the FDA and similar regulators outside of the United States, as well as Owlet’s ability to obtain and maintain regulatory approval or certification for our products and other regulatory requirements and legal proceedings; (iii) Owlet’s competition and the Company’s ability to profitably grow and manage growth; (iv) Owlet's ability to successfully develop, launch, support and scale new products and services, including subscription, telehealth and artificial intelligence-enabled offerings; (v) the Company’s ability to enhance future operating and financial results or obtain additional financing to continue as a going concern; (vi) Owlet’s ability to obtain additional financing in the future, as well as risks associated with the Company’s current loan and debt agreements, including compliance with debt covenants, restrictions on the Company’s access to capital, the impact of the Company’s overall debt levels and the Company’s ability to generate sufficient future cash flows to meet Owlet’s debt service obligations and operate Owlet’s business; (vii) the ability of Owlet to implement strategic initiatives, reduce costs, grow revenues, develop and launch new products, innovate and enhance existing products, meet customer demands and adapt to changes in consumer preferences, promotional timing and retail trends; (viii) Owlet’s ability to acquire, defend and protect its intellectual property, transition and manage payment checkout channels, and satisfy regulatory requirements, including but not limited to requirements concerning privacy and data protection, breaches and loss, as well as other risks associated with Owlet’s digital platforms and technologies; (ix) Owlet’s ability to maintain relationships with customers, manufacturers and suppliers and retain Owlet’s management and key employees; (x) Owlet’s ability to upgrade and maintain its information technology systems; (xi) changes in applicable laws or regulations in the United States and other jurisdictions; (xii) the impact of and disruption to Owlet’s business, financial condition, operations, supply chain and logistics due to economic and other conditions beyond the Company’s control, such as health epidemics or pandemics, macro-economic uncertainties, tariffs, duties, trade restrictions, the timing and outcome of tariff refund requests or administrative decisions, social unrest, hostilities, natural disasters or other catastrophic events; (xiii) the possibility that Owlet may be adversely affected by other economic, business, regulatory, competitive or other factors, such as changes in discretionary consumer spending and consumer preferences; and (xiv) other risks and uncertainties set forth in the Company’s other releases, public statements and filings with the U.S. Securities and Exchange Commission (“SEC”), including those identified in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as updated in the Company’s quarterly reports on Form 10-Q, as any such factors may be updated from time to time in the Company’s other filings with the SEC. All such forward-looking statements attributable to the Company or any person acting on the Company’s behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. Moreover, the Company operates in an evolving environment. Except as required by law, the Company assumes no obligation to update any forward-looking statements after the date of this press release, whether because of new information, future events or otherwise, although Owlet may do so from time to time. The Company does not endorse any projections regarding future performance that may be made by third parties.

Revision of Previously Issued Financial Statements

In connection with the preparation of the consolidated financial statements as of and for the three and six months ended June 30, 2026, management identified errors impacting historical
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interim and annual financial statements, which we determined not to be material, individually or in the aggregate, to any previously issued financial statements. These errors primarily relate to the overstatement of stock-based compensation expense due to valuation miscalculations underlying the employee stock purchase plan. We assessed the materiality of the errors on prior period interim and annual consolidated financial statements in accordance with the Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin No. 99, “Materiality,” and No. 108, codified in ASC 250, Accounting Changes and Error Corrections (“ASC 250”). Based on this assessment, in consideration of both quantitative and qualitative factors, we determined that the related impacts were not material, individually or in the aggregate, to any previously issued interim or annual financial statements. However, if the corrections were recorded in the three months ended June 30, 2026, they would be material to that period. As such, we will revise the previously issued consolidated financial statements for the three-month period ended March 31, 2026, in addition to quarterly and year-to-date periods for 2025 and for the annual periods ended December 31, 2025 and 2024. In conjunction with the revision, we will also correct certain other errors that were previously identified and disclosed and concluded to be immaterial, individually and in the aggregate, to the Company’s consolidated financial statements as of and for the relevant periods. This press release reflects revised prior period financial information for the periods presented herein to correct for these errors. The additional impacted periods noted above will be revised in our Form 10-Q for the quarterly period ended June 30, 2026, expected to be filed by August 14, 2026.

Disclosure Regarding Non-GAAP Financial Measures

In addition to the financial measures presented in this release in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), the Company has included certain non-GAAP financial measures in this release, including adjusted EBITDA, adjusted net income (loss) and adjusted net income (loss) per share.

The Company uses such non-GAAP financial measures as internal measures of business operating performance and as performance measures for benchmarking against the Company’s peers and competitors. The Company believes its presentation of adjusted EBITDA, adjusted net income (loss) and adjusted net income (loss) per share provides a meaningful perspective of the underlying operating performance of the Company’s current business and enables investors to better understand and evaluate its historical and prospective operating performance. The Company believes that this non-GAAP financial measure is an important supplemental measure of operating performance because it facilitates period-to-period comparisons of our operating performance by excluding certain items that management believes are not reflective of our core operating performance, highlighting trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures. These non-GAAP financial measures should not be construed as indicative of our future operating results. The Company believes investors, analysts and other interested parties use adjusted EBITDA, adjusted net income (loss) and adjusted net income (loss) per share in evaluating issuers, and the presentation of these measures facilitates a comparative assessment of the Company’s operating performance in addition to the Company’s performance based on GAAP results.

The Company’s non-GAAP financial measures should not be considered as an alternative to net income (loss) or net income (loss) per share as a measure of financial performance or any other performance measure derived in accordance with GAAP and should not be construed as an inference that the Company’s future results will be unaffected by unusual or non-recurring items.

Adjusted EBITDA is defined as net income (loss) adjusted for income tax provision, interest expense, net, depreciation and amortization, impairment of intangible assets, common stock warrant liability adjustment, stock-based compensation, charges related to certain legal matters, restructuring costs, and loss on debt extinguishment.

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Adjusted net income (loss) is defined as net income (loss) adjusted for impairment of intangible assets, common stock warrant liability adjustment, stock-based compensation, charges related to certain legal matters, restructuring costs, and loss on debt extinguishment. Adjusted net income (loss) per share is defined as adjusted net income (loss) divided by the basic weighted-average number of shares of common stock outstanding.

Adjusted EBITDA, adjusted net income (loss) and adjusted net income (loss) per share are not recognized terms under GAAP, and the Company’s presentation of these non-GAAP measures does not replace the presentation of the Company’s financial results in accordance with GAAP. Because all companies do not use adjusted EBITDA, adjusted net income (loss) and adjusted net income (loss) per share (and similarly titled financial measures) in the same way, those measures as used by other companies may not be consistent with the way the Company calculates such measures. The non-GAAP financial measures included in this release should not be construed as substitutes for or better indicators of the Company’s performance than the most directly comparable GAAP financial measures. See the reconciliation tables that accompany this release for additional information regarding certain of the non-GAAP financial measures included herein.

A reconciliation of the Company's guidance contained in this press release with respect to non-GAAP financial measures to the most directly comparable GAAP financial measure cannot be provided without unreasonable efforts and is not provided herein because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, the amounts of which could be material.

Conference Call and Webcast Information

Owlet will host a conference call and webcast today, August 11, 2026, at 4:30 p.m. ET to discuss these results and provide a business update.

Participants may access the call at 833-461-5787 (domestic) or 585-542-9983 (international) and reference Meeting ID 883284960. A simultaneous webcast may be accessed online at the Events section of Owlet’s Investor Relations website at investors.owletcare.com. A replay will be available on the Investor Relations website shortly after the webcast concludes.

About Owlet, Inc.

Owlet, Inc. (NYSE: OWLT), a leading pediatric health platform, is the only company in the world to offer U.S. FDA-cleared and internationally medically-certified wearable pediatric monitors, delivering hospital-grade technology directly in the home. Our award-winning pediatric products and innovative software combine clinically tested monitoring systems, an integrated video platform, and a simple, easy-to-use app, providing parents with real-time health insights to stay informed on their child’s well-being, support restful sleep, and provide peace of mind anywhere. Since 2012, more than 2.5 million parents have trusted Owlet to monitor their children's well-being and sleep. This adoption has fueled one of the largest collections of pediatric health and sleep data in the world, powering innovations that bridge the critical gap between hospital and home. Owlet is driving a new standard in pediatric wellness by pairing advanced medical technology with consumer-friendly design. Our mission is simple yet ambitious: to give every baby and every family the best possible start in life. Learn more at www.owletcare.com and follow us on LinkedIn and Instagram for company news and updates.




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Owlet, Inc.
Condensed Consolidated Balance Sheets - Preliminary, Unaudited1
(in millions)

AssetsJune 30, 2026December 31, 2025
Current assets:
Cash and cash equivalents$30.9 $35.5 
Restricted cash5.6 5.6 
Accounts receivable, net33.1 22.9 
Inventory15.7 15.3 
Prepaid expenses and other current assets3.0 2.7 
Total current assets88.3 81.9 
Property and equipment, net0.8 0.3 
Intangible assets, net2.0 1.4 
Other assets2.4 2.0 
Total assets$93.6 $85.6 
Liabilities, Mezzanine Equity, and Stockholders’ Equity
Current liabilities:
Accounts payable$12.1 $12.0 
Accrued and other expenses21.8 19.4 
Current portion of deferred revenue2.8 2.3 
Line of credit17.1 6.9 
Current portion of long-term and other debt— 3.6 
Total current liabilities53.8 44.2 
Long-term debt, net— 2.5 
Common stock warrant liabilities0.8 3.3 
Other long-term liabilities0.1 0.2 
Total liabilities54.7 50.2 
Total mezzanine equity15.7 16.4 
Total stockholders’ equity23.1 19.0 
Total liabilities, mezzanine equity, and stockholders' equity$93.6 $85.6 
1 Amounts may not sum due to rounding


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Owlet, Inc.
Condensed Consolidated Statements of Cash Flows - Preliminary, Unaudited1
(in millions)

Six Months Ended June 30,
20262025
Net cash used in operating activities$(5.1)$(8.3)
Net cash used in investing activities(1.4)(0.2)
Net cash provided by financing activities2.0 9.9 
Net change in cash, cash equivalents, and restricted cash$(4.5)$1.4 
1 Amounts may not sum due to rounding



































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Owlet, Inc.
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - Preliminary, Unaudited1
(in millions, except share and per share amounts)
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenue:
Hardware$30.6 $25.2 $50.4 $46.4 
Subscription3.2 0.9 5.9 1.3 
Total revenue33.9 26.1 56.3 47.6 
Cost of revenue:
Hardware11.0 12.5 20.4 22.1 
Subscription1.0 0.2 1.9 0.4 
Total cost of revenue12.0 12.7 22.3 22.5 
Gross profit21.8 13.4 34.1 25.2 
Operating expenses:
General and administrative9.6 7.0 18.8 14.1 
Sales and marketing6.0 4.3 10.4 8.3 
Research and development4.6 3.7 8.5 6.6 
Total operating expenses20.1 15.1 37.7 29.0 
Operating income (loss)1.7 (1.7)(3.7)(3.9)
Other income (expense):
Interest expense, net(0.7)(1.0)(1.4)(2.0)
Common stock warrant liability adjustment(0.1)(34.8)2.5 (28.1)
Other income (expense), net0.7 — 0.9 — 
Loss on debt extinguishment(2.2)— (2.2)— 
Total other income (expense), net(2.4)(35.7)(0.2)(30.0)
Loss before income tax provision(0.6)(37.4)(3.8)(33.8)
Income tax provision— — — — 
Net loss and comprehensive loss$(0.6)$(37.4)$(3.9)$(33.9)
Accretion on convertible preferred stock(0.8)(0.8)(1.7)(1.7)
Allocation of accretion on convertible preferred stock to redeemable common stock— — — 0.1 
Accretion on redeemable common stock— — — — 
Allocation of net loss attributable to redeemable common stockholders— 1.3 — 1.2 
Net loss attributable to redeemable common stockholders$— $(1.3)$— $(1.2)
Net loss attributable to common stockholders$(1.5)$(37.0)$(5.5)$(34.4)
Net loss per share attributable to redeemable common stockholders
Basic$(0.01)$(2.31)$(0.13)$(2.13)
Diluted
$(0.01)$(2.31)$(0.13)$(2.13)
Weighted-average number of shares outstanding used to compute net loss per share attributable to redeemable common stockholders
Basic252,500 562,500 307,610 562,500 
Diluted252,500 562,500 307,610 562,500 
Net loss per share attributable to common stockholders
Basic$(0.05)$(2.35)$(0.20)$(2.21)
Diluted
$(0.05)$(2.35)$(0.29)$(2.21)
Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders
Basic28,514,423 15,716,376 27,968,200 15,550,751 
Diluted
28,514,423 15,716,376 28,077,338 15,550,751 
1 Amounts may not sum due to rounding
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Owlet, Inc.
Reconciliation of GAAP to Non-GAAP Measures - Preliminary, Unaudited1
(in millions, except share and per share amounts)


Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
GAAP net loss$(0.6)$(37.4)$(3.9)$(33.9)
Income tax provision— — — — 
Interest expense, net0.7 1.0 1.4 2.0 
Depreciation and amortization0.2 0.1 0.4 0.2 
Impairment of intangible assets— — — — 
Common stock warrant liability adjustment0.1 34.8 (2.5)28.1 
Stock-based compensation3.3 1.5 6.7 3.1 
Charges related to certain legal matters— 0.5 — 1.4 
Restructuring costs0.7 — 0.7 — 
Loss on debt extinguishment2.2 — 2.2 — 
Non-GAAP Adjusted EBITDA$6.7 $0.5 $5.1 $0.9 


Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
GAAP net loss$(0.6)$(37.4)$(3.9)$(33.9)
Non-GAAP adjustments:
Impairment of intangible assets— — — — 
Common stock warrant liability adjustment0.1 34.8 (2.5)28.1 
Stock-based compensation3.3 1.5 6.7 3.1 
Charges related to certain legal matters— 0.5 — 1.4 
Restructuring costs0.7 — 0.7 — 
Loss on debt extinguishment2.2 — 2.2 — 
Non-GAAP adjusted net income (loss)$5.7 $(0.6)$3.3 $(1.3)
Non-GAAP adjusted net income (loss) per share$0.20 $(0.04)$0.12 $(0.08)
Weighted-average number of shares outstanding attributable to common stockholders, basic28,514,423 15,716,376 27,968,200 15,550,751 

1 Amounts may not sum due to rounding




Contacts

Investor Relations: ir@owletcare.com

Media: pr@owletcare.com
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Source: View Original Filing on SEC EDGAR

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