Owlet First Quarter 2024 Earnings: Misses Expectations
Owlet (NYSE:OWLT) First Quarter 2024 Results
Key Financial Results
Revenue: US$14.8m (up 38% from 1Q 2023).
Net income: US$2.70m (up from US$12.5m loss in 1Q 2023).
Profit margin: 18% (up from net loss in 1Q 2023). The move to profitability was primarily driven by lower expenses.
EPS: US$0.31 (up from US$1.54 loss in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Owlet Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 9.9%. Earnings per share (EPS) exceeded analyst estimates.
Looking ahead, revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 8.1% growth forecast for the Medical Equipment industry in the US.
Performance of the American Medical Equipment industry.
The company's shares are down 6.8% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 4 warning signs for Owlet you should be aware of, and 1 of them is significant.
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