Owlet Inc
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
OWLT$4.34-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows (Unaudited)
Condensed Consolidated Statements of Cash Flows
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net loss | $(3,484) | $(25,975) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 330 | 706 |
| Stock-based compensation | 7,046 | 7,643 |
| Provision for credit losses | (347) | (165) |
| Common stock warrant liability adjustment | (9,534) | (2,679) |
| Impairment of intangible and other assets | 1,892 | — |
| Amortization of right of use assets | 870 | 1,016 |
| Other adjustments, net | (490) | 74 |
| Changes in assets and liabilities: | ||
| Accounts receivable | (2,715) | 6,705 |
| Prepaid expenses and other assets | 323 | 4,093 |
| Inventory | (4,243) | 7,573 |
| Accounts payable and accrued and other expenses | (3,011) | (19,997) |
| Lease liabilities | (1,130) | (1,797) |
| Other, net | (37) | 852 |
| Net cash used in operating activities | (14,530) | (21,951) |
| Cash flows from investing activities | ||
| Purchase of property and equipment | (2) | (11) |
| Purchase of intangible assets | (228) | (19) |
| Capitalized internal-use software development costs | (492) | — |
| Net cash used in investing activities | (722) | (30) |
| Cash flows from financing activities | ||
| Proceeds from issuance of preferred stock and warrants, net of $394 and $1,513 of paid transaction costs, respectively | 8,856 | 28,487 |
| Proceeds from issuance of common stock, net of $1,041 of paid transaction costs | 10,559 | — |
| Proceeds from short-term borrowings | 65,225 | 73,290 |
| Payments of short-term borrowings | (65,078) | (74,631) |
| Proceeds from long-term borrowings and issuance of redeemable common stock (Note 4) | 7,500 | 500 |
| Payments of long-term borrowings | (5,000) | (2,000) |
| Payments related to debt extinguishment costs | (761) | — |
| Employee taxes paid related to the net share settlement of stock-based awards | (723) | (358) |
| Proceeds related to the issuance of common stock under stock plans | 372 | 358 |
| Other, net | (373) | 269 |
| Net cash provided by financing activities | 20,577 | 25,915 |
| Net change in cash, cash equivalents, and restricted cash | 5,325 | 3,934 |
| Cash, cash equivalents, and restricted cash at beginning of period | 16,557 | 11,231 |
| Cash, cash equivalents, and restricted cash at end of period | $21,882 | $15,165 |
Condensed Consolidated Statements of Cash Flows (continued)
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Conversion of preferred stock | $6,469 | $— |
| Accretion on preferred stock and redeemable common stock | 4,083 | 3,298 |
| Issuance of common stock warrants to underwriter | 382 | — |
| Equity issuance costs included in accounts payable and accrued liabilities | 718 | — |
| Debt issuance costs included in accounts payable and accrued liabilities | 209 | — |
| Reclassification from long-term to current debt | — | 500 |
| Purchases of property and equipment included in accounts payable and accrued liabilities | 33 | 22 |
| Stock-based compensation for software development | 45 | — |
| Right of use assets obtained | — | 46 |
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