Amanda Crawford, Chief Financial Officer of Owlet, Inc. (NYSE:), recently sold 182 shares of the company's common stock. The transaction, which took place on January 16, 2025, was executed at a price of $4.30 per share, resulting in a total sale price of $782. Following this transaction, Crawford has 150,508 shares in the company. The child monitoring technology company, with a market capitalization of 70 million dollars, has shown an impressive revenue growth of ~75% in the last twelve months. According to InvestingPro analysis, the stock currently appears undervalued relative to its fair value.
The sale was part of an optional transaction to pay taxes and fees related to the sale and settlement of restricted stock units. InvestingPro the analysis shows that while the company operates with moderate debt levels and maintains a financial health score of FAIR, it faces challenges with profitability. Get more information and access the comprehensive Pro Research Report, available on 1,400 US stocks, to make informed investment decisions.
In other recent news, Owlet Inc. reported record Q3 revenue of $22.1 million, marking a 141% year-over-year increase. This impressive financial performance is driven by the worldwide sales of the company's Dream Sock. The company's gross margins also hit a record 52.2%, showing six consecutive quarters of growth, while adjusted EBITDA turned in $0.6 million.
In addition to these developments, Owlet's strategic initiatives, such as increasing distribution through Amazon (NASDAQ:) and improving the presence of the medical sector with the BabySat monitor, played an important role in the strong financial result. Furthermore, the company has launched a beta subscription service, which has seen 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, partially due to a $1.9 million non-cash charge and increased marketing expenses. The operating loss was reported at $4.8 million, although it improved on last year's $7.9 million. However, Owlet executives remain confident in the company's market position and path to profitability. This is the latest development in the company's financial performance.
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