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Owlet Expands Global Footprint with Launch of Medically-Certified Dream Sock™ in the UK and Across Europe

June 11, 2024 | Last Trade: US$4.50 0.14 3.21

LEHI, Utah / Jun 11, 2024 / Business Wire / Owlet, Inc. (“Owlet” or the “Company”) (NYSE:OWLT), the pioneer of smart infant monitoring, today announces the UK and European launch of Dream Sock, a smart baby monitor with live health readings and notifications for healthy infants between 0-18 months and 2.5-13.6 kg. This innovative medical device provides parents with real-time health and vital information, offering unparalleled peace of mind.

“We’re beyond proud to launch Dream Sock to caregivers across the UK and Europe and bring millions of parents more reassurance while their baby sleeps,” said Kurt Workman, Owlet Chief Executive Officer and Co-Founder. “Dream Sock is now a global product that is recognized as medically accurate and safe, having undergone regulatory authorizations and certifications within several geographies. Today our mission to support every baby and every caregiver is even more realized.”

The Owlet Dream Sock is CE and UKCA Marked under EU and UK Medical Device Regulations and meets rigorous regulatory standards, ensuring its safety, efficacy, and compliance with all applicable requirements. This smart digital health infant monitoring device comfortably wraps around Baby's foot, providing real-time monitoring of pulse rate, oxygen saturation level, sleep patterns, and more. The connected Owlet Dream App (available on iOS and Android) delivers live health readings directly to mobile devices and the included Base Station – both of which will immediately notify users if Baby has low/high pulse rate, or low oxygen. It is clinically proven to accurately track and display an infant’s vital signs, even through gentle motion and across all skin tones.

“Dream Sock offers a scientific and medical approach to infant health monitoring and is a breakthrough product for the industry,” said Dr. Alisa Niksch, Pediatric Cardiologist and Senior Director of Medical Affairs at Owlet. “It brings hospital-grade accuracy into the home nursery, enabling parents to track vital signs with confidence. Dream Sock equips parents with precise and real-time data to support informed decision-making and help them better care for their infants at home.”

Historical health readings and sleep trends gathered from Baby using Dream Sock can be tracked in the Owlet Dream App, providing caregivers with valuable insights. Parents across the UK and Europe will also now have access to advanced sleep support features. This includes Predictive Sleep Technology, which takes the guesswork out of nap and bedtime by using babies’ historical sleep data to provide parents with recommended sleep and wake windows. Dream Sock can also be paired with the Owlet Cam® 2 allowing caregivers to see and hear Baby from anywhere, receive motion notifications, and more. Bundled together, parents can experience the perfect balance of technology, safety, and peace of mind.

Dream Sock is now available for purchase in the UK, Ireland, Germany, France, the Netherlands, Austria, Belgium, Sweden, Norway, Denmark, Finland, Italy, Spain, and Switzerland, through Owlet’s localized websites and key retailers, including Amazon, John Lewis, and others.

About Owlet, Inc.

Owlet’s digital health infant monitoring platform is transforming the journey of parenting. The Company (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 certification and launch of its Dream Sock in the UK and the EU and the impacts, growth prospects, and expanded product offerings and product availability in international markets. 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 availability of, adoption and commercial success of Dream Sock and its new medical technology within these international markets, (ii) 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; (iii) Owlet’s competition and the Company’s ability to profitably grow and manage growth; (iv) the Company’s ability to enhance future operating and financial results or obtain additional financing to continue as a going concern; (v) 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; (vi) 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; (vii) 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; (viii) Owlet’s ability to maintain relationships with customers, manufacturers and suppliers and retain Owlet’s management and key employees; (ix) Owlet’s ability to upgrade and maintain its information technology systems; (x) changes in applicable laws or regulations; (xi) 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; (xii) 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 (xiii) 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, and 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. New risk factors and uncertainties may emerge from time to time, and factors that the Company currently deems immaterial may become material, and the Company can't predict such events or how they may affect Owlet. 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.

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