Owlet (OWLT) TD Cowen’s 8th Annual Future of the Consumer Conference summary

Company overview and mission

• Focuses on empowering parents with hospital-grade health monitoring technology for infants at home, addressing safety, health, and sleep concerns in the first year of life.

• Developed a wearable sock that tracks heart rate, oxygen, and sleep quality, sending data to smartphones and alerting parents as needed.

• Launched in 2016, went public in 2021, and is based in Salt Lake City, Utah.

Product portfolio and regulatory milestones

• Offers two main products: an over-the-counter Dream Sock and a prescription BabySat monitor.

• Dream Sock received FDA De Novo clearance, the first OTC baby health monitor to do so, enabling broad retail distribution.

• BabySat is FDA-cleared for prescription use, reimbursed by insurance, and distributed through DMEs and hospitals.

• Both products are wireless, wearable, and proven as accurate as hospital monitors.

Market opportunity and adoption

• Targets a large market: 4 million babies born annually in the U.S., 140 million globally.

• Envisions health monitoring becoming standard care, similar to car seats and thermometers.

• U.S. and Europe represent significant growth potential, with only 8% penetration in the U.S. and 2% in Europe.

• $30 billion spent annually on primary care for this age group, with most visits for peace of mind.