Owlet posts earnings beat, revenue exceeds forecasts

Owlet, a developer of infant monitoring technology, reported adjusted earnings per share of $0.09 for the latest quarter, exceeding market forecasts by $0.09. Revenue also surpassed analyst projections, reflecting stronger-than-anticipated demand for the company’s wearable health devices.

The company did not provide specific revenue figures or a detailed breakdown of performance drivers in its preliminary release. Analysts had expected adjusted EPS of $0.00 and revenue of approximately $30 million for the period, according to consensus estimates compiled by Refinitiv.

Owlet’s results come amid ongoing expansion in the digital health and wearable device sectors, where consumer adoption of remote monitoring solutions has accelerated. The company has faced regulatory scrutiny in the past, including a 2022 recall of its smart sock product, which monitors infant heart rate and oxygen levels. Regulatory and operational challenges have weighed on its stock performance over the past year.

Shares of Owlet were indicated higher in pre-market trading following the earnings announcement, though the company’s long-term trajectory remains tied to its ability to address regulatory concerns and sustain revenue growth in a competitive market.