Owlet stock price rises 8% due to CEO change, earnings guidance reaffirmed

Investing.com – Shares of Owlet Inc. (NYSE:OWLT) rose 8% after the close on Monday. Earlier, the company said co-founder Kurt Wokeman would return as president and chief executive officer, replacing Jonathan Harris, who resigned effective immediately.

The smart baby monitoring company said Wokeman, who previously served as CEO and currently serves as executive chairman of the board, will lead the execution of the company’s strategic priorities. He will continue to serve as a director, but will no longer serve as executive chairman.

The board thanked Harris for his leadership and for the company’s services. Lior Susan, chairman of the Owlet board, said Wokeman’s strategic vision and proven execution capabilities make him the clear choice for the CEO role as the company enters its next chapter.

Owlet expects to reach the high end of its guidance range for first-quarter revenue in fiscal year 2026. The company plans to release its financial results and business outlook for the first quarter of fiscal year 2026 in early May 2026. Owlet said it remains committed to achieving profitability through revenue growth, expense control, and operational excellence.

The company reiterated its long-term strategic pillars, including increasing adoption rates, expanding lifetime value, and using its data set to create a pediatric health platform. Chief Financial Officer Amanda Tweed Crawford chose to receive her full-year 2025 annual bonus in the form of Owlet common stock rather than cash, reinforcing her commitment to the long-term plan.

Wokeman said his return to the CEO role reflects a commitment to the mission launched 12 years ago. He said his goal is to make Owlet the standard in family pediatric health and noted the company’s opportunities to increase market penetration and accelerate adoption, as the category leader in pediatric health monitoring, with an unrivaled data set.

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