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Owlet (NYSE: OWLT) reported Q2 2026 revenue of $33.9 million, up 29.9% year over year, driven by broad-based growth and subscription momentum. Subscription revenue reached $3.2 million, up $2.4 million from Q2 2025. GAAP gross margin was 64.4%, or 54.0% excluding a $3.5 million one-time tariff refund, 270 basis points above last year.Operating income was $1.7 million versus a $1.7 million loss a year ago, with net loss narrowing to $0.6 million from $37.4 million. Adjusted EBITDA was $6.7 million, or $2.9 million excluding a $3.75 million tariff benefit, compared to $0.5 million in Q2 2025. For 2026, Owlet reaffirmed revenue guidance of $118–$122 million, lifted gross margin guidance to 53–55%, and raised adjusted EBITDA guidance to $10.75–$12.75 million, reflecting only the tariff refund impact. The company also identified non-material historical errors, mainly overstated stock-based compensation, and plans to revise prior-period financials in its upcoming Form 10-Q.

SOFR plus 2.00%-2.25% replaces 7.50%-8.50% under Owlet’s prior facility, lowering borrowing costs by at least 525 bps and adding liquidity.

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Minot Light Capital Partners, an investment management company, released its “Capital Appreciation Fund" Q1 2026 Investor Letter. A copy of the letter can be downloaded here.

Net loss was $3.3M versus $3.0M profit a year ago, while gross margin reached 54.5%. Full-year adjusted EBITDA guidance rose to $7M-$9M.