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. After this transaction, Crawford holds 150,508 shares of the company. The $70 million market cap baby monitoring technology company has seen impressive revenue growth of ~75% over the past twelve months. According to InvestingPro analysis, the stock appears to be currently undervalued relative to its fair value.
The sale was part of a non-discretionary transaction to cover taxes and fees associated with the acquisition and settlement of restricted stock units. InvestingPro analysis reveals that while the company operates with moderate levels of debt and maintains a FAIR financial health rating, it faces challenges with profitability. Discover more insights and access a comprehensive Pro Research Report, available on over 1,400 US stocks, to make more informed investment decisions.
In other recent news, Owlet Inc. reported record third-quarter revenue of $22.1 million, a 141% year-over-year increase. This impressive financial performance was primarily driven by the company’s global Dream Sock sales. The company’s gross margin also reached a record 52.2%, reflecting six consecutive quarters of growth, while adjusted EBITDA turned positive at $0.6 million.
Along with these developments, Owlet’s strategic initiatives, such as expanding distribution through Amazon (NASDAQ: ) and increasing its presence in the medical sector with the BabySat monitor, played a significant role in the strong financial result. Furthermore, the company launched a beta subscription service, which recorded 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 rose to $16.4 million, due in part to non-cash impairment charges of $1.9 million and rising marketing costs. The operating loss was recorded at $4.8 million, although it was an improvement over last 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 results.
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