Owlet Inc 2025年季度报告

For the quarterly period ended March31, 2025OR Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited)Condensed Consolidated Statements of Changes in Mezzanine Equity and Stockholders’ Deficit (Unaudited)Condensed Consolidated Statements of Cash Flows (Unaudited)Notes to Condensed Consolidated Financial Statements (Unaudited)Management’s Discussion and Analysis of Financial Condition and Results of OperationsQuantitative and Qualitative Disclosures About Market RiskControls and Procedures Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresOther InformationExhibits CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS meaning 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, from any future results, performance or achievements expressed or implied by the forward-looking statements.In some cases, you can identify forward-looking statements by terms such as “may,” “should,” “expect,” “plan,” “anticipate,” “could,” or 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 and Discussion and Analysis of Financial Condition and Results of Operations” and elsewhere in this Report, our Annual Report on Form10-K for the fiscal year ended December31, 2024 (the “Form 10-K”) and Amendment No. 1 to our Annual Report on Form 10-K/Afor the fiscal year ended December31, 2024 (the “Form 10-K/A”). These forward-looking statements are subject to numerous risks, including, without limitation, the following: 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 our similar certification from such other governmental authority or notified body, which can be a lengthy and time-consumingprocess, harm financial results and have long-term negative effects on our operations.•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. adequate to cover all liabilities we might incur.•Operations in international markets will expose us to additional business, political, regulatory, operational, financial andeconomic risks.•Our success depends substantially on our reputation and brand. operations. Owlet, Inc.Notes to Condensed Consolidated Financial Statements(in thousands, except share and per share amounts)(unaudited) 8 Note 1.Basis of PresentationAs used in these financial statements, unless otherwise stated or the context otherwise requires: “we,” “us,” “our,” “Owlet,” the The accompanying unaudited condensed consolidated financial statements of the Company and its subsidiaries have been prepared inaccordance with accounting principles generally accepted in the United States (“GAAP”) for inte