Owlet Inc. 2025年季度报告

FORM10-Q OWLET, INC. Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form10-Q(this “Report”) contains certain statements that are "forward-looking statements" within themeaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). All statements other than statements of historicalfacts contained in this Report, including statements concerning possible or assumed future actions, business strategies, events orresults of operations, and any statements that refer to projections, forecasts or other characterizations of future events or circumstances,including any underlying assumptions, are forward-looking statements. These statements involve known and unknown risks, In some cases, you can identify forward-looking statements by terms such as “may,” “should,” “expect,” “plan,” “anticipate,” “could,”“intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these termsor other similar expressions. The forward-looking statements in this Report are only predictions. We have based these forward-lookingstatements largely on our current expectations and projections about future events and financial trends that we believe may affect ourbusiness, financial condition and results of operations. These forward-looking statements speak only as of the date of this Report andare subject to a number of risks, uncertainties and assumptions described in the sections entitled “Risk Factors” and “Management's •We have a limited operating history.•We have not been profitable to date, and operating losses could continue, which could materially and adversely affect ourbusiness, financial condition and results of operations, including our ability to continue as a going concern.•We have experienced fluctuations in the growth of our business and anticipate this will continue. If we fail to manage ourgrowth effectively, our business could be materially and adversely affected. •If any governmental authority or notified body were to require marketing authorization or similar certification for any productthat we sell for which we have not obtained such marketing authorization or certification, we could be subject to regulatoryenforcement actions and/or be required to cease selling or recall the product pending receipt of marketing authorization orsimilar certification from such other governmental authority or notified body, which can be a lengthy and time-consuming •Our products rely on mobile applications to function and we rely on Apple’s App Store and the Google Play Store fordistribution of our mobile applications. •We are required to obtain and maintain marketing authorizations or certifications from the FDA, foreign regulatory authoritiesor notified bodies for medical device products in the U.S. or in foreign jurisdictions, which can be a lengthy and time-consuming process, and a failure to do so on a timely basis, or at all, could severely harm our business. •We currently rely on a single manufacturer for the assembly of our Dream Sock, Smart Sock, and BabySat products and asingle manufacturer for the assembly of our Owlet Cam. We will likely rely on single manufacturers for future products wemay develop. If we encounter manufacturing problems, delays, or increased costs, we may be unable to promptly transition toalternative manufacturers and our ability to generate revenue may be limited. •Our success depends in part on our proprietary technology, and if we are unable to obtain, maintain or successfully enforceour intellectual property rights, the commercial value of our products and services will be adversely affected, our competitiveposition may be harmed and we may be unable to operate our business profitably. •Our business and operations may suffer in the event of IT system failures, cyberattacks or deficiencies in our cybersecurity. •We are involved, and may become involved in the future, in disputes and other legal or regulatory proceedings that, ifadversely decided or settled, could materially and adversely affect our business, fin