Owlet: Telehealth And Subscriptions Could Drive The Next Leg Of Growth
Owlet, Inc. continues to be viewed as a buy despite facing mixed results in Q1 and a reduction in revenue forecasts. The company's subscription service, particularly Owlet 360, is enhancing gross margins and aiding its shift towards a pediatric health platform. While there are risks related to hardware sales and operational costs, Owlet's low valuation presents potential for growth.
- ▪Owlet's stock is trading near post-selloff lows after mixed Q1 results.
- ▪The subscription growth from Owlet 360 is improving gross margins despite declining hardware sales.
- ▪Adjusted EBITDA guidance has improved, now expected to be between $7 and $9 million.
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