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LEHI, Utah - Owlet, Inc. (NYSE:OWLT), a $127 million market cap company whose stock has surged nearly 70% year-to-date according to InvestingPro data, announced Thursday the launch of its medically-certified Dream Sock infant monitor in South Africa, marking the company’s expansion to a third continent after North America and Europe.
The Dream Sock, distributed as a Class C Medical Device with CE Marking, tracks infants’ pulse rate, oxygen level, and sleep patterns, sending real-time readings to the Owlet Dream App and an included Base Station. The device is designed for healthy babies between 0 and 18 months weighing between 2.5-13.6 kg.
"With the launch of Dream Sock as a pediatric medical device in South Africa, we’re taking another important step toward our vision of reaching every family with Owlet’s technology," said Jonathan Harris, Owlet’s President, in a press release statement. The expansion comes as the company reports strong revenue growth of 37% in the last twelve months, though InvestingPro data indicates the company is not yet profitable.
The product is NAPPI coded, allowing eligible consumers to claim reimbursement from their medical aid when purchased through a pharmacy or healthcare provider, subject to terms and conditions.
The Dream Sock can be paired with Owlet Cam 2 as part of the Dream Duo package, providing HD video and audio monitoring capabilities along with motion and sound notifications.
According to the company, the Dream Sock has met medical device standards across multiple markets. The product is now available at various South African retailers including Baby City, Babies R Us, Checkers Little Me, A-Z Baby, and Takealot.com.
Owlet, which went public in 2021, states that over two million parents worldwide have used its monitoring platform since the company’s founding in 2012. InvestingPro analysis suggests the stock is currently undervalued, with multiple growth indicators and ProTips available for subscribers looking to dive deeper into the company’s financial health and market position. The comprehensive Pro Research Report offers detailed insights into Owlet’s expansion strategy and market potential.
In other recent news, Owlet Inc. reported its financial results for the second quarter of 2025. The company saw a significant increase in revenue, reaching $26.1 million, which exceeded the forecast of $20.07 million. However, the earnings per share (EPS) missed expectations, coming in at -$2.53 against a projected $0.10. Additionally, Owlet announced that its Dream Sock infant monitoring device received certification from Australia’s Therapeutic Goods Administration. This certification confirms the device meets the necessary medical device standards in the region. The Dream Sock is designed to monitor vital signs such as pulse rate and oxygen levels in infants. These developments reflect the company’s ongoing efforts to expand its product offerings and market reach.
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