On this page of StockholderLetter.com we present the 5/12/2023 shareholder letter from Owlet, Inc. — ticker symbol OWLT. Reading current and past OWLT letters to shareholders can bring important insights into the investment thesis.

Dear Fellow Stockholders, Thank you for your belief in Owlet, our mission, and our vision. At Owlet, our mission is to empower parents with the right information at the right time, to give them more peace of mind and help them find more joy in the journey of parenting. You will often hear every baby at Owlet, because our vision is that every baby and every parent will have access to technology like ours in the home. To date, our technology has been used in the homes of over one and a half million babies. This reach, and a growing community support network of parents, foundations and partners seeking to make a difference in families lives, energizes all of us at Owlet to continue to grow our strong brand as a leader in baby monitoring technology. This past year has been a year of evolution, change and re-focus for Owlet, but I am pleased with our team s progress amidst this change. I continue to be thankful for our Owlet team and partners who help us in our vision and mission every day. While the past year has included challenges, including regulatory uncertainties, new product launches, and evolving market conditions, I am pleased to reflect on our accomplishments in the face of these challenges. Owlet has made significant progress over the past year with our new Dream Sock. We've monitored over 1.2 trillion heartbeats, sold over 450,000 Dream Sock and Cam units, and achieved a Dream Sock NPS over 60, demonstrating high levels of customer satisfaction. Owlet also remains the #1 considered brand in the health and wellness monitoring category for multiple quarters in a row, demonstrating the strength of our brand and reputation in the market. We ranked #1 on Amazon, further highlighting our market leadership and customer appeal. We've also received hundreds of life-changing stories from parents who have used our products, reinforcing our mission to improve the lives of families. We are committed to driving digital health technologies for infant health and safety and parents needs for information and peace of mind into the future. We have been steadfast in our pursuit of growing our reach into the medical device and medical community, alongside our consumer led platforms, with our efforts including submitting two applications to the U.S. Food and Drug Administration to obtain marketing authorization for our BabySatTM remote pediatric monitoring device and our software-as-a-medical-device, Health Notifications. I am also pleased with the operational discipline and commitment of our company to evolve quickly and be able to establish Owlet as a sustainable business for the long term, by navigating through financial challenges and changes in our business, when many companies have struggled. As I look forward, our team continues to expand the user experience for our Dream product line, which includes the Dream Sock, Cam and Dream Duo, to release improvements and features that better enable our families to provide care for their children. We will continue to stabilize and then enhance our operations to focus on a sustainable and profitable foundation from which to grow, as we continue to focus on obtaining key regulatory clearances for technology that will empower parents with the information they need. This evolution of Owlet products into a broader family-centric platform for wellness, sleep and health data to enable better care from the home
that not only empowers parents and families but also caregivers and providers is what motivates us. Thank you for your support and joining with us to make parents lives better with Owlet. I am optimistic and excited about Owlet s opportunities and cannot wait to continue to share more as we empower parents around the world. Best, Kurt Workman Chief Executive Officer, President and Co-Founder

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OWLT 5/12/2023 Shareholder/Stockholder Letter Transcript:



Dear Fellow Stockholders,
Thank you for your belief in Owlet, our mission, and our vision. At Owlet, our mission is to
empower parents with the right information at the right time, to give them more peace of mind and
help them find more joy in the journey of parenting. You will often hear    every baby    at Owlet,
because our vision is that every baby and every parent will have access to technology like ours
in the home. To date, our technology has been used in the homes of over one and a half million
babies. This reach, and a growing community support network of parents, foundations and
partners seeking to make a difference in families    lives, energizes all of us at Owlet to continue to
grow our strong brand as a leader in baby monitoring technology.
This past year has been a year of evolution, change and re-focus for Owlet, but I am pleased with
our team   s progress amidst this change. I continue to be thankful for our Owlet team and partners
who help us in our vision and mission every day. While the past year has included challenges,
including regulatory uncertainties, new product launches, and evolving market conditions, I am
pleased to reflect on our accomplishments in the face of these challenges.
Owlet has made significant progress over the past year with our new Dream Sock. We've
monitored over 1.2 trillion heartbeats, sold over 450,000 Dream Sock and Cam units, and
achieved a Dream Sock NPS over 60, demonstrating high levels of customer satisfaction. Owlet
also remains the #1 considered brand in the health and wellness monitoring category for multiple
quarters in a row, demonstrating the strength of our brand and reputation in the market. We
ranked #1 on Amazon, further highlighting our market leadership and customer appeal. We've
also received hundreds of life-changing stories from parents who have used our products,
reinforcing our mission to improve the lives of families. We are committed to driving digital health
technologies for infant health and safety and parents    needs for information and peace of mind
into the future.
We have been steadfast in our pursuit of growing our reach into the medical device and medical
community, alongside our consumer led platforms, with our efforts including submitting two
applications to the U.S. Food and Drug Administration to obtain marketing authorization for our
BabySatTM remote pediatric monitoring device and our software-as-a-medical-device, Health
Notifications. I am also pleased with the operational discipline and commitment of our company
to evolve quickly and be able to establish Owlet as a sustainable business for the long term, by
navigating through financial challenges and changes in our business, when many companies
have struggled.
As I look forward, our team continues to expand the user experience for our Dream product line,
which includes the Dream Sock, Cam and Dream Duo, to release improvements and features
that better enable our families to provide care for their children. We will continue to stabilize and
then enhance our operations to focus on a sustainable and profitable foundation from which to
grow, as we continue to focus on obtaining key regulatory clearances for technology that will
empower parents with the information they need. This evolution of Owlet products into a broader
family-centric platform for wellness, sleep and health data to enable better care from the home

that not only empowers parents and families but also caregivers and providers is what motivates
us. Thank you for your support and joining with us to make parents    lives better with Owlet. I am
optimistic and excited about Owlet   s opportunities and cannot wait to continue to share more as
we empower parents around the world.
Best,
Kurt Workman
Chief Executive Officer, President and Co-Founder




shareholder letter icon 5/12/2023 Letter Continued (Full PDF)
 

OWLT Stockholder/Shareholder Letter (Owlet, Inc.) 5/12/2023 | www.StockholderLetter.com
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