OWLT Owlet, Inc.

Overview and Growth

Owlet, Inc. generated $105.71M of revenue in fiscal 2025, with net loss of $39.68M and an operating cash outflow of $10.79M. At $105.71M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $78.06M in fiscal 2024, revenue recorded a 35.4% year-over-year increase. At period end, total assets were $85.63M, framing the scale of the company’s operating and financing commitments. Revenue equaled 1.23x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $53.53M as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 50.6% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was an operating loss of $8.26M, reflecting costs that exceeded gross profit. The operating loss equaled 7.8% of revenue, showing the scale of the operating deficit relative to sales. After all below-operating-line items, the company recorded a net loss of $39.68M for the fiscal year. The net loss equaled 37.5% of revenue, showing the bottom-line deficit relative to the company’s sales base. Before income taxes, the company recorded a loss of $39.65M, bridging the operating result to the final net loss. The pretax loss equaled 37.5% of revenue, measuring the pre-tax deficit against sales. The reported income-tax provision was $28.00K, the amount recognized between pretax income and the final net-income result. The net loss equaled 208.4% of period-end equity, showing the deficit relative to book capital. The net loss equaled 46.3% of period-end assets, showing the deficit relative to the asset base. The bottom-line deficit increased from $12.54M in fiscal 2024 to $39.68M.

Liquidity and Capital Structure

At period end, the $85.63M asset base was financed through $50.18M of liabilities and $19.04M of equity. Current assets were $81.92M against $44.24M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. At 1.85x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Reported cash and equivalents were $35.46M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 80.2% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The company carried $13.03M of total debt at period end, which frames its leverage and debt-service burden. Debt equaled 0.68x of book equity, describing the relative scale of borrowing and shareholder capital. Relative to total assets, debt measured 15.2%, showing how much of the asset base was matched by borrowing. Equity equaled 22.2% of assets, showing the shareholder-capital layer within the company’s balance sheet. Liabilities represented 58.6% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 41.4%, comparing reported cash and equivalents with the full positive asset balance. Compared with $49.52M in fiscal 2024, the current asset base moved 72.9% and finished higher. The reported cash balance changed 75.2% from $20.25M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $10.79M, rather than cash generation from operations. Capital spending of $273.00K added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. Operating cash flow and capital spending combined to leave a $11.06M cash deficit after capital spending. The free-cash-flow deficit equaled 10.5% of revenue, showing the post-investment cash shortfall relative to sales. The cash deficit after capital spending represented 12.9% of the period-end asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.