• The study, conducted by Owlet, brings attention to the public health issue of parental mental health and the challenges of stress, anxiety, and sleep deprivation.

LEHI, Utah / Sep 24, 2024 / Business Wire / Owlet, Inc. (“Owlet” or the “Company”) (NYSE:OWLT), the pioneer of smart infant monitoring, today released its State of Parenting Report, which reveals the immense pressure parents face during their baby’s first year of life. On average, parents lose three hours of sleep per night,¹ contributing to higher levels of stress and fatigue. With 126 million pediatric visits every year,² it’s clear that health concerns also weigh heavily on parents’ minds. The number one reason for these visits is respiratory infections,³ and parents remain deeply concerned about sudden and unexpected health issues. Still today, one of the leading causes of infant mortality is unexpected deaths during sleep, caused by sudden infant death syndrome (SIDS), suffocation, and other unknown factors.⁴ The new data sheds even more light on these struggles, along with the common feelings that overwhelm new parents, as well as the tools they seek for support.

The Link Between Exhaustion, Anxiety, and Parents’ Mental Health

The survey reveals that exhaustion (61%) is the most common emotion parents experience during the first year, followed by feeling overwhelmed (48%) and anxious (32%). This is compounded by 86% of parents waking up as many as eight times a night to check on their baby. A lack of restful sleep, driven by these worries, continues to affect parents’ mental health.

When asked what would benefit their mental health, but is the hardest to find, these parents answered:

• More sleep - 54%
• Time for self-care activities or hobbies - 43%
• Assistance for household chores or responsibilities - 39%
• More support from my family, friends or partner - 32%

Worry About Baby’s Health is Causing Even More Stress

Exhaustion and overwhelmed feelings aside, these parents are also in a constant state of worry about their newborns’ well-being and health. When looking at common concerns parents may have during the first year of their baby’s life, nearly 40% of parents are most worried about their newborn contracting an illness, such as respiratory syncytial virus (RSV) or passing away during their sleep from SIDS.

These fears further intensify parents’ stress, with 53% reporting they get little to no sleep and more than 40% saying that they feel extremely on edge and anxious when their baby is sick.

Parents Rely on Technology to Help Alleviate Their Anxiety

While the data finds that parents are alike in their worries and fears, it also shows commonality through the tools and solutions parents need to ease their worries and give them more peace of mind.

• Nearly three out of four parents feel technology that helps them monitor their baby has made them feel less stressed and anxious
• 50% of parents want a monitor that helps them understand if and when they need to seek medical attention when their baby is sick
• When their babies are sick, nearly a quarter of parents wish they had medical-grade health monitoring technology at home

This report follows the recent launch of ‘Only Owlet’ – the Company’s global initiative that puts a spotlight on the universal parenting experience and demonstrates first-hand how parents can be more empowered to take the best care of their baby. Technology, such as the Owlet Dream Sock^®, provides extra reassurance during parents’ most vulnerable moments and allows them to feel more in control of their baby’s well-being and safety. 96% of Owlet parents surveyed have reported more peace of mind and 94% have reported better quality of sleep.⁵

“In today’s rapidly changing world, the challenges of parenting have never been more pronounced, and the demands on new parents are greater than ever. This new data paints a vivid picture of the modern parenting experience, revealing both the emotional weight and the necessity for solutions,” said Kurt Workman, Owlet Chief Executive Officer and Co-Founder. “We are committed to being a reliable source of support for parents everywhere as we better understand the needs of those who are caring for and raising the next generation.”

To view the full State of Parenting Report and read stories from Owlet parents, please visit www.owletcare.com/pages/why-owlet.

Survey Methodology & Additional References

The total sample size was 3,012 parents (16+) with children aged 1 and under across Germany, the U.K. and the U.S. The research was conducted from 06.13.2024 – 06.18.2024. Censuswide abides by and employs members of the Market Research Society which is based on the ESOMAR principles. Regional data for the U.S., U.K and German markets can be made available.

1: https://www.snuz.co.uk/blogs/sleep-talk/the-truth-about-sleep-snuz-sleep-survey-results
2: https://www.graham-center.org/content/dam/rgc/documents/publications-reports/reports/PrimaryCareChartbook2021.pdf
3: https://www.ncbi.nlm.nih.gov/books/NBK526418/
4: https://www.cdc.gov/maternal-infant-health/infant-mortality/index.html
5. Reducing Caregiver Stress From At-Home Infant Monitoring: Results from a survey of Owlet Sock user experiences. Lehi, Utah: Owlet Baby Care, Inc.

About Owlet, Inc.

Owlet’s digital health infant monitoring platform is transforming the journey of parenting. Owlet, Inc. (NYSE:OWLT), a small-cap healthcare growth equity, offers FDA-authorized medical and consumer pediatric wearables and an integrated HD visual and audio camera that provide real-time data and insights to parents who safeguard health, optimize wellness, and ensure peaceful sleep, for their children.

Since 2012, over 2 million parents worldwide have used Owlet’s platform contributing to one of the largest collections of consumer infant health and sleep data. The Company continues to develop software and digital data solutions to bridge the current healthcare gap between hospital and home and bring new insights to parents and caregivers globally. Owlet believes that every child deserves to live a long, happy, and healthy life. To learn more, visit www.owletcare.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the Company’s expected financial performance, including the Company’s financial outlook, outlook based upon regulatory authorizations or product enhancements, growth prospects, and future operational efficiencies or results and expected market opportunity and acceptance. In some cases, you can identify forward-looking statements by terms such as “estimate,” “may,” “believes,” “plans,” “expects,” “anticipates,” “intends,” “goal,” “potential,” “upcoming,” “outlook,” “guidance,” the negation thereof, or similar expressions, although not all forward-looking statements contain these identifying words. Forward-looking statements are based on the Company’s expectations at the time such statements are made, speak only as of the dates they are made and are susceptible to a number of risks, uncertainties and other factors. For all such forward-looking statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Reform Act. The Company’s actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by our forward-looking statements. Many important factors could affect the Company’s future results and cause those results to differ materially from those expressed in or implied by the Company’s forward-looking statements. Such factors include, but are not limited to, (i) the regulatory pathway for Owlet’s products, including submissions to, actions taken by and decisions and responses from regulators, such as the FDA and similar regulators outside of the United States, as well as Owlet’s ability to obtain and maintain regulatory approval or certification for our products and other regulatory requirements and legal proceedings; (ii) Owlet’s competition and the Company’s ability to profitably grow and manage growth; (iii) the Company’s ability to enhance future operating and financial results or obtain additional financing to continue as a going concern; (iv) Owlet’s ability to obtain additional financing in the future, as well risks associated with the Company’s current loan and debt agreements, including compliance with debt covenants, restrictions on the Company’s access to capital, the impact of the Company’s overall debt levels and the Company’s ability to generate sufficient future cash flows to meet Owlet’s debt service obligations and operate Owlet’s business; (v) the ability of Owlet to implement strategic initiatives, reduce costs, grow revenues, develop and launch new products, innovate and enhance existing products, meet customer demands and adapt to changes in consumer preferences and retail trends; (vi) Owlet’s ability to acquire, defend and protect its intellectual property and satisfy regulatory requirements, including but not limited to requirements concerning privacy and data protection, breaches and loss, as well as other risks associated with Owlet’s digital platforms and technologies; (vii) Owlet’s ability to maintain relationships with customers, manufacturers and suppliers and retain Owlet’s management and key employees; (viii) Owlet’s ability to upgrade and maintain its information technology systems; (ix) changes in applicable laws or regulations; (x) the impact of and disruption to Owlet’s business, financial condition, operations, supply chain and logistics due to economic and other conditions beyond the Company’s control, such as health epidemics or pandemics, macro-economic uncertainties, social unrest, hostilities, natural disasters or other catastrophic events; (xi) the possibility that Owlet may be adversely affected by other economic, business, regulatory, competitive or other factors, such as changes in discretionary consumer spending and consumer preferences; and (xii) other risks and uncertainties set forth in the Company’s other releases, public statements and filings with the U.S. Securities and Exchange Commission (“SEC”), including those identified in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as updated in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2024, as any such factors may be updated from time to time in the Company’s other filings with the SEC. All such forward-looking statements attributable to the Company or any person acting on the Company’s behalf are expressly qualified in their entirety by the cautionary statements contained or referred to above. Moreover, the Company operates in an evolving environment. Except as required by law, the Company assumes no obligation to update any forward-looking statements after the date of this press release, whether because of new information, future events or otherwise, although Owlet may do so from time to time. The Company does not endorse any projections regarding future performance that may be made by third parties.