Child know-how firm Owlet has introduced that it’s increasing its attain inside Europe by extending entry to its Dream Sock child monitor to Greece, Poland, Czech Republic, Romania, Slovakia, Hungary and Bulgaria.
Dream sock, which acquired FDA-approved in November of final yr and CE marked in Might, the machine wraps round a child’s foot and collects stay well being information from infants aged 0 to 18 months and weighing 3 to 14 kilos.
The machine displays the child’s coronary heart price, oxygen saturation and sleep standing, and likewise collects wake information. Mother and father additionally obtain well being notifications through the corporate’s app.
“Dream Sock has had an incredible impression on hundreds of households since its international launch a number of months in the past, and we’re excited to proceed bringing our medical know-how to much more dad and mom,” mentioned Kurt Workman, CEO and co-founder of Owlet, in a press release.
THE BIGGER TREND
Little Owl went public through a SPAC in 2021. The inventory is at the moment buying and selling for about $4.52 per share on the NYSE, down from a peak of $150.78 in 2021.
Final yr the corporate achieved $30 million in non-public placement funding and in February this yr it raised one other $9 million.
In August, the corporate reported its monetary outcomes for the second quarter of 2024, with income of $20.7 million, up 58% year-over-year from roughly $13.1 million.
Working bills have been $12.5 million within the second quarter, in comparison with $11.9 million in the identical interval final yr. Working loss was $2.2 million, in comparison with $6.7 million within the second quarter of 2023.
The Utah firm reported a internet lack of $1.1 million for the second quarter, in comparison with a lack of $8.5 million for the second quarter of 2023.
Adjusted EBITDA was $0.1 million within the second quarter of 2024, in comparison with a lack of $4.3 million in the identical interval final yr.
The corporate expects full-year 2024 internet income to be between $72.5 million and $77.5 million, with an adjusted EBITDA lack of $6 million to $3 million.