Amanda Crawford, chief financial officer of Owlet, Inc. (NYSE:), recently sold 182 shares of the company’s common stock. The transaction, which occurred on January 16, 2025, was executed at a price of $4.30 per share, resulting in a total sale value of $782. Following this transaction, Crawford owns 150,508 shares of the company. The baby monitoring technology company, with a market cap of $70 million, posted impressive revenue growth of around 75% over the past twelve months. According to InvestPro According to this analysis, the stock currently appears undervalued relative to its fair value.
The sale was part of a non-discretionary transaction to cover taxes and fees related to the acquisition and settlement of the restricted stock units. InvestPro The analysis reveals that although the company operates with moderate debt levels and maintains a FAIR financial health score, it faces profitability challenges. Discover more information and access the full Pro Research report, available for more than 1,400 U.S. stocks, to make more informed investment decisions.
Separately, Owlet Inc. reported record third-quarter revenue of $22.1 million, a 141% year-over-year increase. This impressive financial performance is mainly due to the company’s global sales of Dream Sock. The company’s gross margins also reached a record high of 52.2%, reflecting six consecutive quarters of growth, while adjusted EBITDA turned positive at $0.6 million.
In addition to these developments, Owlet’s strategic initiatives, such as expanding distribution through Amazon (NASDAQ:) and strengthening its presence in the medical sector with the BabySat monitor, played an important role in the strong financial results. . Additionally, the company launched a beta subscription service, which saw an 85% retention rate. Owlet ended the quarter with $21.5 million in cash and raised its 2024 revenue guidance to a range of $74 million to $77.5 million.
Despite these positive results, the company’s operating expenses increased to $16.4 million, driven in part by a non-cash impairment charge of $1.9 million and higher manufacturing costs. marketing. The operating loss was reported at $4.8 million, although an improvement from the previous year’s $7.9 million. However, Owlet executives remain confident in the company’s market position and path to profitability. These are recent developments in the company’s financial performance.
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