Owlet, Inc.
OWLT Healthcare Medical Devices
In the quarter to June 2026, revenue grew 29.9%, EPS grew 97.9%, free cash flow grew 55.7% and total debt fell 16.9%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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Owlet, Inc. (OWLT) Altman Z-score
Owlet, Inc.'s Altman Z-score for fiscal 2025 is −0.37, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −0.37 | 6.34 |
| FY2024 | −6.71 | 2.11 |
| FY2023 | −8.81 | (0.06) |
| FY2022 | −8.76 | (8.31) |
| FY2021 | −0.44 | (1.15) |
| FY2020 | 0.71 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.44 | — | 0.53 | |
| Retained earnings / total assets | (3.60) | — | −5.03 | |
| EBIT / total assets | (0.10) | — | −0.32 | |
| Market value of equity / total liabilities | 5.37 | — | 3.22 | |
| Sales / total assets | 1.23 | — | 1.23 | |
| Altman Z-score | Distress zone | −0.37 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −8.89 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| RXST RxSight, Inc. compare | 5.0× |
| INGN Inogen, Inc compare | 1.6× |
| MXCT MaxCyte, Inc. compare | 1.3× |
| APYX Apyx Medical Corporation compare | 1.1× |
| ZOMDF Zomedica Corp. compare | 0.4× |
| OWLT Owlet, Inc. | −0.4× |
| QTRX Quanterix Corporation compare | −0.9× |
| STIM Neuronetics, Inc. compare | −3.5× |
| LUCD Lucid Diagnostics Inc. compare | −10.9× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets