Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 12, 2026
Owlet, Inc. (OWLT)
A forensic read on Owlet, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Distress
Financial health
-9.1
Distress distance
Clean
Earnings quality
5
Forensic signals
-208.4%
ROE
35.4%
Revenue growth
The financial-health reading above compares this company's equity at BOOK value, not at what the market currently pays for it — this free snapshot doesn't pull live market data. Treat it as a rough read, not the final word.
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Owlet, Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads -9.1, placing it in the Distress zone (based on book value, not market value, since this free snapshot doesn't pull live market data — treat this zone as a rough read, not the final word). 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-39.6%
FY2025
Return on invested capital.Return on invested capital is -39.6% in the latest fiscal year and rising from -7717% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
+31.5%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +128% over the last 3 years to FY2025 (+31.5%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. Note: the share count shows a large one-time jump around FY2021, consistent with a reverse split or bankruptcy reorg rather than gradual buybacks, so the earlier shrinkage doesn't reflect real repurchase discipline. That's ~31.5% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~56%.
9% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 9% of revenue in FY2025 — about $0.52 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 33.9% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
n/m (sign flip)
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets flipped from negative to positive FY2024→FY2025 (FY2024 $-25.4M to FY2025 $+13.0M) — the standard accruals ratio divides by the average of the two, which collapses toward zero right as the sign changes, so the resulting percentage is a denominator artifact, not a real accrual measurement. Treat this as a structural balance-sheet shift to understand on its own terms rather than a clean or dirty accruals read.
Key fundamentals
Latest Revenue$105.7M
Revenue Growth YoY+35.4%
Revenue CAGR (3yr)+15.2%
Net Margin-37.5%
Free Cash Flow-$11.1M
Return on Equity-208.4%
Debt / Equity0.68x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Owlet, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 12, 2026. Forensic signals flag probability, not certainty.
Owlet, Inc. (OWLT) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
90d
FY2024→FY2025
Inventory days.Days inventory outstanding moved from 80 to 90 FY2024→FY2025 (against cost of goods sold; inventory +45% vs +35% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.