Owlet, Inc.

afternoon thank you for attending today's outlet q225 earnings conference call my name is tamia and i will be your moderator for today's call all lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end if you'd like to ask a question please press star 1 on your telephone keypad i would now pass the conference over to your host jay ginsko investor relations you may proceed good afternoon everyone and thank you for joining us earlier today outlet released financial results for the second quarter ended

June 30, 2025. I'm pleased to be joined today by Curt Workman, Allot's CEO and co-founder, President Jonathan Harris, and CFO Amanda Tweed Crawford. Before we begin, please note that our financial results press release and presentation slides referred to on this call are available under the events and presentation section of our investor relations website at investors.allotcare.com. This call is also being webcast live with a link to the same website. The webcast and accompanying slides will be available for replay for 12 months following this call. The content of today's call is the property of Owlet. It cannot be reproduced or transcribed without our prior consent. Before we begin, I'd like to refer you to our safe harbor disclaimer on slide three of the presentation. Today's discussion will contain forward-looking statements based on the company's current views and expectations as of today's date. These statements are only predictions and are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to, those described in our most recent filings with the SEC and in the risk factor section of our annual report on Form 10-K, as updated in the company's quarterly reports on Form 10-Q and other filings with the SEC. Please note that the company assumes no obligation to update any forward-looking statements whether as a result of new information, future events, or otherwise, except as required by law. With that, it's my pleasure to turn the call over to Kurt.

Thank you very much, Jay. Hello, everyone, and thank you for joining our second quarter 2025 financial results call today. I'm proud to report Q2 was another exceptional quarter for Owlet. Revenue exceeded our expectations at $26.1 million in the quarter, growing 26% year over year. contributing to our largest first half revenue performance in company history. Strong top line growth led to growth margins expanding year over year for a ninth consecutive quarter, and we recorded our fifth consecutive quarter of adjusted EBITDA profitability. We've continued to make great progress throughout the first half of 2025 and are focused on driving further gains through our strategic focus areas for growth. We're confident in our continued momentum into the back half of the year, and therefore are again raising full year guidance. Underpinning our performance was, again, the unmatched dedication of the Owlet team and our passionate community. We are building on Owlet's transformation as a comprehensive pediatric health platform, and we believe we are just scratching the surface of Owlet's potential. I'm extremely proud of our execution to deliver on this opportunity and our mission. Before we jump into the second quarter results, I want to take a moment to highlight an exciting and important leadership update. As of October 1st, I'll be transitioning out of the CEO role and into a new position as executive chairman of the board. This move will allow me to focus more deeply on the things I'm most passionate about, expanding access to Alice Mission and helping guide the company's long-term strategy as we continue to grow. Starting October 1st, Jonathan will become the new CEO of Owlet. This is a meaningful moment for Owlet and one I'm incredibly excited about. I founded Owlet over 12 years ago with the simple but powerful belief that every baby deserves access to medical grade health monitors at home. Since then, we've created and led this category, launching the first smart stock in 2016 and establishing it as the gold standard with the first and only FDA cleared health monitor available to parents in the US and abroad. Now we're closer than ever to making that vision a reality. In my new role, in addition to overseeing the long-term strategy and board governance, I'll be focused on driving broader access to our technology through affordability, insurance coverage, and building on the clinical evidence needed to make health monitors part of the standard of care for families everywhere. This change allows me to focus my time and energy on where I believe I can make the biggest impact for parents and for the company. We've built incredible momentum, and I truly believe this next chapter will accelerate it even further. Alec could not have a better CEO going forward. Jonathan is an extremely accomplished executive with the proven ability to consistently deliver value to a full range of stakeholders. Jonathan's leadership and commitment to Alec's mission has already made an incredible impact on the company over the last two years, with him leading our global go-to-market directly following FDA and CE mark clearances. spearheading international growth and distribution, standing up our Owlet 360 subscription offering, and driving a more focused, streamlined organization. It's without question that the momentum and performance we've delivered in recent quarters are a direct result of Jonathan's impact on the business and his valuable leadership. Jonathan has been pivotal in the transformation of Owlet as a comprehensive pediatric health platform, and he is ideally suited to lead as Owlet's CEO through this next phase of growth. I'm grateful to our board for their support in this planned transition and excited to assume the executive chairman role and continue to actively support and collaborate with Jonathan as well. It's been a pleasure and a privilege to be the CEO of Owlet. With that, I'll pass it on to Owlet's new CEO, Jonathan Harris.