Amanda Crawford, CFO of Owlet, Inc. (NYSE:), recently sold 182 shares of the company's common stock. The transaction, which occurred on January 16, 2025, was executed at a price of $4.30 per share, resulting in a total sale value of $782. After this deal, Crawford owns 150,508 shares in the company. The baby monitoring technology company, which has a market cap of $70 million, has shown impressive revenue growth of nearly 75% over the past 12 months. according to InvestingPro Through analysis, the stock currently appears undervalued compared to its fair value.
The sale was part of a non-discretionary transaction to cover taxes and fees related to the vesting and settlement of restricted stock units. InvestingPro The analysis reveals that although the company operates with moderate debt levels and maintains a FAIR financial health score, it faces challenges with profitability. Discover more insights and access Pro Research's comprehensive report, available for over 1,400 US stocks, to make more informed investment decisions.
In other recent news, Owlet Inc. announced Reported record third-quarter revenue of $22.1 million, representing a 141% year-over-year increase. This impressive financial performance was primarily driven by global sales of the company's Dream Sock. The company's gross margins also reached a record high of 52.2%, reflecting six consecutive quarters of growth, while adjusted EBITDA reached $0.6 million.
In addition to these developments, Owlet's strategic initiatives, such as expanding distribution through Amazon (NASDAQ:) and strengthening its presence in the medical sector with the BabySat display, played an important role in the strong financial result. Furthermore, the company launched a trial subscription service, which saw 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 rose to $16.4 million, due in part to a non-cash impairment charge of $1.9 million and higher marketing costs. An operating loss was reported at $4.8 million, albeit an improvement from the previous year's $7.9 million. However, Owlet executives remain confident in the company's market position and path to profitability. These are the latest developments in the company's financial performance.
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