Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Owlet, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2020
FY2021
FY2021
FY2023
FY2023
FY2025
Revenue
75.4
75.8
69.2
54
78.1
106
Cost of revenue
39.5
40.8
45.9
31.4
38.7
52.2
Gross profit
35.9
35.1
23.3
22.6
39.3
53.5
Research and development
10.5
21.4
27.9
10.3
9.8
14.1
Selling and marketing
19.3
37.1
38.5
13.5
15.8
18.5
General and administrative
13.1
32.3
41.5
27.3
34
29.2
Operating expenses
42.9
90.9
108
51.2
59.5
61.8
Operating income
-6.99
-55.8
-84.6
-28.6
-20.2
-8.26
Interest expense
1.38
1.77
1.1
3.19
1.63
0.81
Other non-operating income
-3.51
-15.9
5.31
-4.26
7.74
-31.4
Pre-tax income
-10.5
-71.7
-79.3
-32.9
-12.5
-39.7
Income tax
0.02
0.03
0.03
0.01
0.05
0.03
Net income
-10.5
-71.7
-79.3
-32.9
-12.5
-39.7
EBITDA
-6.12
-54.7
-83.2
-27.8
-19.8
-7.74
EPS, basic
-6.75
-15.88
-9.98
-4.53
-1.57
-2.31
EPS, diluted
-6.75
-15.88
-9.98
-4.53
-1.57
-2.31
Shares, basic (weighted)
1.56
4.5
7.95
8.28
11
18.1
Shares, diluted (weighted)
1.56
4.5
7.95
8.28
11
18.1
Balance sheet
FY2020
FY2021
FY2021
FY2023
FY2023
FY2025
Cash and equivalents
17
95.1
11.2
16.6
20.2
35.5
Receivables
10.5
10.5
16
14
12.1
22.9
Inventory
7.91
18
18.5
6.49
10.5
15.3
Other current assets
0.09
12.3
5.56
2.92
2.82
2.68
Total current assets
37.6
136
51.3
39.9
46.1
81.9
Property, plant and equipment
1.72
1.87
1.11
0.38
0.1
0.3
Lease right-of-use assets
0
2.26
0.94
0.14
0.07
Intangible assets
0.61
1.7
2.28
2.21
0.98
1.39
Total assets
40.1
140
58.1
44.1
49.5
85.6
Accounts payable
16.4
27.8
30.4
13.7
11.3
12
Accrued liabilities
10.6
31.7
20
15.1
17
19.4
Deferred revenue
1.64
1.06
1.15
1.17
1.4
2.28
Short-term debt
2.02
8.53
10.4
15.2
7.37
10.6
Total current liabilities
47.3
69.1
66.6
45.1
37
44.2
Long-term debt
10.2
7.99
0
0
4.33
2.46
Lease liabilities
0
1.16
0.02
0.09
0.02
Other non-current liabilities
0.49
0.71
0.25
0.93
0.23
0.2
Total liabilities
60.9
84.9
68.7
73.8
66.9
50.2
Total debt
12.4
16.5
10.4
5.94
11.7
13
Paid-in capital
3.71
199
212
218
238
326
Retained earnings
-71.7
-143
-223
-256
-268
-307
Shareholders' equity
-68
55.2
-10.6
-37.8
-30.4
19
Total equity
-68
55.2
-10.6
-37.8
-30.4
19
Total liabilities and equity
40.1
140
58.1
44.1
49.5
85.6
Shares outstanding
1.57
8.04
8.24
8.8
15.7
26.9
Cash flow statement
FY2020
FY2021
FY2021
FY2023
FY2023
FY2025
Net income
-10.5
-71.7
-79.3
-32.9
-12.5
-39.7
Depreciation and amortization
0.87
1.13
1.42
0.84
0.45
0.52
Stock-based compensation
1.07
4.26
12.9
9.93
8.63
9.35
Change in receivables
-2.96
-0.14
-8.5
0.97
2.03
-11
Change in inventory
-3.47
-11.6
-1.18
12.1
-4.14
-4.93
Change in payables
11.8
32.1
-10.7
-19.5
1.32
5.43
Cash from operations
-0.13
-40.6
-81.4
-23.5
-11.2
-10.8
Capital expenditures
-0.97
-0.97
-0.64
-0.02
-0.04
-0.27
Cash from investing
-1.06
-2.02
-1.57
-0.06
-0.76
-0.94
Debt issued
3
5
0
0.5
Debt repaid
0
-1
-6
-3.5
-5
-0.49
Stock issued
0
10.6
32.1
Cash from financing
6.46
121
-0.88
28.9
16
32.1
Net change in cash
5.27
78
-83.8
5.33
4.07
20.4
Free cash flow
-1.1
-41.5
-82
-23.5
-11.2
-11.1
Interest paid
1.77
1.08
1.88
Income taxes paid
0.01
0.03
0.05
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $5.04 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
54.8%
Gross profit / revenue.
Operating margin
-6.3%
Operating income / revenue.
EBITDA margin
-5.7%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-7.7%
Pre-tax income / revenue.
Net margin
-7.7%
Net income / revenue.
FCF margin
-7.4%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-6.8%
Cash from operations / revenue.
Return on equity (ROE)
-38.1%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-9.4%
Net income / average total assets.
Return on invested capital (ROIC)
-61.7%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
13.8%
Research and development expense / revenue.
Stock-based pay / revenue
11.2%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.7%
Capital expenditures / revenue.
D&A / revenue
0.6%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
35.4%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
15.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
7.0%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
36.2%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
31.9%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
8.3%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
73.1%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
13.8%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
16.4%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
65.2%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
31.5%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
63.2%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.64x
Current assets / current liabilities.
Quick ratio
1.19x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.57x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.74x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
18.2%
Total debt / total assets.
Liabilities / assets
58.5%
Total liabilities / total assets.
Net debt
-$13.9M
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.31
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$4.03
Revenue / diluted weighted shares.
FCF per share
-$0.30
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.27
Cash from operations / diluted weighted shares.
Book value per share
$0.80
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
1.28x
Market cap / revenue.
P/B
6.37x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
6.97x
Market cap / tangible book value, when positive.
EV/Sales
1.16x
Enterprise value / revenue.
FCF yield
-5.8%
Free cash flow / market cap.
Earnings yield
-6.0%
Net income / market cap (the inverse of P/E).
What was Owlet, Inc.'s revenue in fiscal 2025?
Owlet, Inc. reported revenue of $105.7M for fiscal 2025, 35.4% higher than the year before.
Was Owlet, Inc. profitable in fiscal 2025?
No. It reported a net loss of $39.7M.
How much free cash flow did Owlet, Inc. generate in fiscal 2025?
Cash from operations of $10.8M minus capital expenditures of $273.0K left free cash flow of -$11.1M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.