2023 Q2 Form 10-Q Financial Statement

#000162828023017933 Filed on May 12, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $13.09M $10.74M $12.00M
YoY Change -28.67% -50.15% -580.0%
Cost Of Revenue $7.855M $6.583M $8.600M
YoY Change -33.01% -48.5% 145.71%
Gross Profit $5.233M $4.153M $3.400M
YoY Change -20.98% -52.57% -156.67%
Gross Profit Margin 39.98% 38.68% 28.33%
Selling, General & Admin $9.202M $12.22M $19.50M
YoY Change -52.11% -44.22% -2.99%
% of Gross Profit 175.85% 294.22% 573.53%
Research & Development $2.745M $2.890M $4.500M
YoY Change -64.67% -66.18% -37.5%
% of Gross Profit 52.46% 69.59% 132.35%
Depreciation & Amortization $237.0K $293.0K $356.0K
YoY Change -33.98% -15.8% 6.59%
% of Gross Profit 4.53% 7.06% 10.47%
Operating Expenses $11.95M $15.11M $24.10M
YoY Change -55.73% -50.38% -11.72%
Operating Profit -$6.714M -$10.96M -$20.70M
YoY Change -67.03% -49.5% -37.84%
Interest Expense $52.00K $2.812M -$300.0K
YoY Change -74.38% 1144.25% -25.0%
% of Operating Profit
Other Income/Expense, Net -$1.748M -$911.0K $1.500M
YoY Change -120.16% -87.09% -84.54%
Pretax Income -$8.462M -$11.87M -$19.50M
YoY Change -27.63% -58.72% -18.75%
Income Tax $5.000K $0.00 $0.00
% Of Pretax Income
Net Earnings -$8.467M -$11.87M -$19.50M
YoY Change -27.74% -58.73% -18.75%
Net Earnings / Revenue -64.69% -110.53% -162.5%
Basic Earnings Per Share -$1.19 -$0.11
Diluted Earnings Per Share -$1.19 -$0.11 -$0.17
COMMON SHARES
Basic Shares Outstanding 117.7M shares 117.5M shares 114.9M shares
Diluted Shares Outstanding 8.213M shares 113.5M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $24.75M $24.77M $11.20M
YoY Change -33.58% -63.97% -88.22%
Cash & Equivalents $24.75M $24.77M $11.20M
Short-Term Investments
Other Short-Term Assets $1.633M $4.957M $5.600M
YoY Change -50.43% -25.48% -54.1%
Inventory $12.39M $14.74M $18.50M
Prepaid Expenses
Receivables $12.98M $15.40M $16.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $51.75M $59.86M $51.30M
YoY Change -44.91% -48.72% -62.23%
LONG-TERM ASSETS
Property, Plant & Equipment $609.0K $834.0K $3.400M
YoY Change -64.45% -52.01% 81.82%
Goodwill
YoY Change
Intangibles $2.253M $2.270M $2.279M
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.017M $1.035M $1.100M
YoY Change 9.47% 26.99% 83.33%
Total Long-Term Assets $5.518M $6.067M $6.800M
YoY Change -30.65% -17.77% 60.68%
TOTAL ASSETS
Total Short-Term Assets $51.75M $59.86M $51.30M
Total Long-Term Assets $5.518M $6.067M $6.800M
Total Assets $57.26M $65.93M $58.10M
YoY Change -43.79% -46.88% -58.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.76M $30.84M $30.40M
YoY Change -17.51% 31.12% 9.49%
Accrued Expenses $11.21M $14.04M $20.00M
YoY Change -60.96% -60.07% -36.97%
Deferred Revenue $1.036M $1.042M $1.148M
YoY Change -9.6% -7.62% 8.2%
Short-Term Debt $8.176M $0.00 $4.700M
YoY Change 88.43% -100.0%
Long-Term Debt Due $5.204M $4.798M $10.40M
YoY Change -53.05% -32.61% 21.87%
Total Short-Term Liabilities $48.38M $50.72M $66.60M
YoY Change -33.6% -29.13% -3.6%
LONG-TERM LIABILITIES
Long-Term Debt $2.000M $3.500M $0.00
YoY Change -46.1% -100.0%
Other Long-Term Liabilities $1.769M $2.007M $2.100M
YoY Change 619.11% 918.78% 194.94%
Total Long-Term Liabilities $3.769M $5.507M $2.100M
YoY Change 1432.11% -17.68% -75.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $48.38M $50.72M $66.60M
Total Long-Term Liabilities $3.769M $5.507M $2.100M
Total Liabilities $78.99M $81.89M $68.70M
YoY Change -1.69% -13.16% -19.04%
SHAREHOLDERS EQUITY
Retained Earnings -$243.1M -$234.6M -$222.8M
YoY Change 32.19% 36.27% 55.32%
Common Stock $1.000K $12.00K $12.00K
YoY Change -90.91% 9.09% 9.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$27.32M -$20.48M -$10.60M
YoY Change
Total Liabilities & Shareholders Equity $57.26M $65.93M $58.10M
YoY Change -43.79% -46.88% -58.51%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$8.467M -$11.87M -$19.50M
YoY Change -27.74% -58.73% -18.75%
Depreciation, Depletion And Amortization $237.0K $293.0K $356.0K
YoY Change -33.98% -15.8% 6.59%
Cash From Operating Activities -$7.383M -$9.374M -$9.825M
YoY Change -73.88% -65.78% 66.61%
INVESTING ACTIVITIES
Capital Expenditures $11.00K $6.000K $162.0K
YoY Change -102.03% -97.44% -135.22%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$11.00K -$8.000K -$162.0K
YoY Change -97.97% -98.86% -63.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $1.500M
YoY Change 0.0%
Cash From Financing Activities 7.375M $22.92M -1.956M
YoY Change -375.8% 1188.14% -85.56%
NET CHANGE
Cash From Operating Activities -7.383M -$9.374M -9.825M
Cash From Investing Activities -11.00K -$8.000K -162.0K
Cash From Financing Activities 7.375M $22.92M -1.956M
Net Change In Cash -19.00K $13.53M -11.94M
YoY Change -99.94% -151.43% -39.95%
FREE CASH FLOW
Cash From Operating Activities -$7.383M -$9.374M -$9.825M
Capital Expenditures $11.00K $6.000K $162.0K
Free Cash Flow -$7.394M -$9.380M -$9.987M
YoY Change -73.33% -66.05% 83.69%

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CY2022Q1 owlt Contract With Customer Liability Additions
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CY2023Q1 owlt Contract With Customer Liability Revenue Recognized Including Opening Balance
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CY2023Q1 us-gaap Contract With Customer Liability
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483000 usd
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CY2022Q4 us-gaap Long Term Debt
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CY2023Q1 us-gaap Long Term Debt Noncurrent
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CY2023Q1 us-gaap Line Of Credit Facility Current Borrowing Capacity
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7086000 usd
CY2023Q1 us-gaap Line Of Credit
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CY2023Q1 owlt Long Term Debt Future Aggregate Maturity Remainder Of Fiscal Year
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3298000 usd
CY2023Q1 owlt Long Term Debt Future Aggregate Maturity Year One
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CY2023Q1 owlt Related Party Transaction Monthly Interest Payment To Related Party
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3000000 usd
CY2023Q1 owlt Related Party Transaction Monthly Interest Payment To Related Party Payment Period
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CY2021Q4 us-gaap Loss Contingency New Claims Filed Number
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CY2023Q1 us-gaap Assets Fair Value Disclosure
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CY2023Q1 us-gaap Temporary Equity Dividends Adjustment
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653000 usd
CY2022Q1 us-gaap Temporary Equity Dividends Adjustment
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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113545429 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q1 us-gaap Earnings Per Share Diluted
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CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2023Q1 owlt Common Stock Shares Subject To Vesting
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2807500 shares
CY2023Q1 us-gaap Number Of Operating Segments
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10736000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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21538000 usd
CY2023Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
2762000 usd
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
3368000 usd

Files In Submission

Name View Source Status
owlt-20230331_cal.xml Edgar Link unprocessable
owlt-20230331_lab.xml Edgar Link unprocessable
owlt-20230331_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
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0001628280-23-017933-index.html Edgar Link pending
0001628280-23-017933.txt Edgar Link pending
0001628280-23-017933-xbrl.zip Edgar Link pending
ex-311owletinc302certifica.htm Edgar Link pending
ex-312owletinc302certifica.htm Edgar Link pending
ex-321owletinc906certifica.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
owlt-20230331.htm Edgar Link pending
owlt-20230331.xsd Edgar Link pending
owlt-20230331_g1.jpg Edgar Link pending
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owlt-20230331_pre.xml Edgar Link unprocessable
owlt-20230331_htm.xml Edgar Link completed
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