Owlet Q1 Revenue Hits $22.5M, Exceeds Expectations
Reports Q1 revenue $22.5M, consensus $20.8M. "I am reassuming the CEO role to build on the mission I started 12 years ago, with a clear, long-term mandate to lead Owlet through its next phase of scale and development in pediatric health," said Kurt Workman, Owlet's President, Chief Executive Officer, and Co-Founder. "While our core mission hasn't changed, we are prioritizing our highest value opportunities to drive long-term stakeholder value, while sharpening our focus on business execution and operating efficiency. We are making significant strides in our evolution into a comprehensive pediatric health and data platform. Our Owlet360 subscription engine is thriving, scaling to over 115,000 paying subscribers to end the first quarter, and we are excited to announce the official release in our app of Owlet's OnCall pediatric telehealth service. We believe that combining insights from our platform with access to pediatric consultation will provide greater value to parents, simplify access to care, and lengthen the customer relationship. Looking ahead, we are concentrating our resources to capture the significant white space available in our current high-value markets. With a sharpened focus, disciplined financial strategy, and a clear roadmap to take the business to the next level, I have total confidence in Owlet's path as we scale our pediatric health platform and strive to build the standard for at-home infant care."
