Owlet (OWLT) 10-Q 14 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 10, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-39516
Entity Registrant Name	OWLET, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-1615012
Entity Address, Address Line One	3300 North Ashton Boulevard
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Lehi
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84043
City Area Code	(844)
Local Phone Number	334-5330
Title of 12(b) Security	Class A Common Stock, $0.0001 par value per share
Trading Symbol	OWLT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Small Business	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,477,224
Amendment Flag	false
Entity Central Index Key	0001816708
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 24,746	$ 11,231
Accounts receivable, net of allowance for doubtful accounts of $2,898 and $3,013, respectively	12,978	15,958
Inventory	12,389	18,515
Prepaid expenses and other current assets	1,633	5,558
Total current assets	51,746	51,262
Property and equipment, net	609	1,108
Right of use assets, net	1,639	2,260
Intangible assets, net	2,253	2,279
Other assets	1,017	1,195
Total assets	57,264	58,104
Current liabilities:
Accounts payable	22,758	30,432
Accrued and other expenses	11,205	19,984
Current portion of deferred revenues	1,036	1,148
Line of credit	8,176	4,685
Current portion of long-term debt	5,204	10,353
Total current liabilities	48,379	66,602
Long-term debt, net	2,000	0
Noncurrent lease liabilities	265	1,162
Common stock warrant liabilities	26,574	724
Other long-term liabilities	1,769	251
Total liabilities	78,987	68,739
Commitments and Contingencies
Stockholders’ equity (deficit):
Common stock, $0.0001 par value, 107,142,857 shares authorized as of June 30, 2023 and December 31, 2022; 8,441,683 and 8,242,009 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively.	1	1
Additional paid-in capital	215,775	212,122
Accumulated deficit	(243,092)	(222,758)
Total stockholders’ deficit	(27,316)	(10,635)
Total liabilities, convertible preferred stock, and stockholders’ deficit	57,264	58,104
Series A Convertible Preferred Stock
Current liabilities:
Series A convertible preferred stock, $0.0001 par value, 10,741,071 shares authorized as of June 30, 2023 and December 31, 2022; 30,000 and 0 shares issued and outstanding as of June 30, 2023 and December 31, 2022, respectively (liquidation preference of $30,000)	$ 5,593	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Allowance for doubtful accounts	$ (2,898)	$ (3,013)
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	107,142,857	107,142,857
Common stock, shares issued (in shares)	8,441,683	8,242,009
Common stock, shares outstanding (in shares)	8,441,683	8,242,009
Series A Convertible Preferred Stock
Temporary equity, par value (in dollars per share)	$ 0.0001	$ 0.0001
Temporary equity, shares authorized (in shares)	10,741,071	10,741,071
Temporary equity, shares issued (in shares)	30,000	0
Temporary equity, shares outstanding (in shares)	30,000	0
Liquidation preference	$ 30,000	$ 30,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenues	$ 13,088	$ 18,348	$ 23,824	$ 39,887
Cost of revenues	7,855	11,726	14,438	24,507
Gross profit	5,233	6,622	9,386	15,380
Operating expenses:
General and administrative	6,124	9,492	14,990	19,769
Sales and marketing	3,078	9,723	6,431	21,354
Research and development	2,745	7,770	5,635	16,315
Total operating expenses	11,947	26,985	27,056	57,438
Operating loss	(6,714)	(20,363)	(17,670)	(42,058)
Other (expense) income:
Interest expense, net	(52)	(203)	(2,864)	(429)
Common stock warrant liability adjustment	(1,629)	8,811	283	1,935
Other (expense) income, net	(67)	63	(78)	109
Total other (expense) income, net	(1,748)	8,671	(2,659)	1,615
Loss before income tax provision	(8,462)	(11,692)	(20,329)	(40,443)
Income tax provision	(5)	(26)	(5)	(33)
Net loss and comprehensive loss	(8,467)	(11,718)	(20,334)	(40,476)
Accretion on Series A convertible preferred stock	(1,326)	0	(1,979)	0
Net loss attributable to common stockholders, basic	(9,793)	(11,718)	(22,313)	(40,476)
Net loss attributable to common stockholders, diluted	$ (9,793)	$ (11,718)	$ (22,313)	$ (40,476)
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (1.19)	$ (1.48)	$ (2.73)	$ (5.12)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (1.19)	$ (1.48)	$ (2.73)	$ (5.12)
Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders, basic (in shares)	8,213,247	7,915,156	8,162,102	7,899,959
Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders, diluted (in shares)	8,213,247	7,915,156	8,162,102	7,899,959

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholder's Equity (Deficit) - USD ($) $ in Thousands	Total	Series A Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital Series A Convertible Preferred Stock	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2021		0
Beginning balance at Dec. 31, 2021		$ 0
Ending balance (in shares) at Mar. 31, 2022		0
Ending balance at Mar. 31, 2022		$ 0
Beginning balance (in shares) at Dec. 31, 2021			8,071,183
Beginning balance at Dec. 31, 2021	$ 55,191		$ 1	$ 198,612		$ (143,422)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in Shares)			6,343
Issuance of common stock upon exercise of stock options	48			48
Issuance of common stock for restricted stock units vesting (in shares)			22,935
Issuance of common stock for employee stock purchase plan	3,336			3,336
Net loss	(28,758)					(28,758)
Ending balance (in shares) at Mar. 31, 2022			8,100,461
Ending balance at Mar. 31, 2022	29,817		$ 1	201,996		(172,180)
Beginning balance (in shares) at Dec. 31, 2021		0
Beginning balance at Dec. 31, 2021		$ 0
Ending balance (in shares) at Jun. 30, 2022		0
Ending balance at Jun. 30, 2022		$ 0
Beginning balance (in shares) at Dec. 31, 2021			8,071,183
Beginning balance at Dec. 31, 2021	55,191		$ 1	198,612		(143,422)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(40,476)
Ending balance (in shares) at Jun. 30, 2022			8,146,781
Ending balance at Jun. 30, 2022	21,538		$ 1	205,435		(183,898)
Beginning balance (in shares) at Mar. 31, 2022		0
Beginning balance at Mar. 31, 2022		$ 0
Ending balance (in shares) at Jun. 30, 2022		0
Ending balance at Jun. 30, 2022		$ 0
Beginning balance (in shares) at Mar. 31, 2022			8,100,461
Beginning balance at Mar. 31, 2022	29,817		$ 1	201,996		(172,180)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options (in Shares)			29,866
Issuance of common stock upon exercise of stock options	166			166
Issuance of common stock for restricted stock units vesting (in shares)			16,454
Issuance of common stock for employee stock purchase plan	3,273			3,273
Net loss	(11,718)					(11,718)
Ending balance (in shares) at Jun. 30, 2022			8,146,781
Ending balance at Jun. 30, 2022	21,538		$ 1	205,435		(183,898)
Beginning balance (in shares) at Dec. 31, 2022		0
Beginning balance at Dec. 31, 2022		$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary equity, shares issued (in shares)		30,000
Issuance of Series A convertible preferred stock		$ 3,867
Preferred stock issuance costs		(253)
Accretion on Series A convertible preferred stock	(653)	$ 653			$ (653)
Ending balance (in shares) at Mar. 31, 2023		30,000
Ending balance at Mar. 31, 2023		$ 4,267
Beginning balance (in shares) at Dec. 31, 2022			8,242,009
Beginning balance at Dec. 31, 2022	(10,635)		$ 1	212,122		(222,758)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Preferred stock issuance costs	0			0
Issuance of SVB Warrants (Note 4)	43			43
Issuance of common stock upon exercise of stock options (in Shares)			18,054
Issuance of common stock upon exercise of stock options	55			55
Issuance of common stock for restricted stock units vesting (in shares)			115,257
Issuance of common stock for employee stock purchase plans			15,104
Issuance of common stock for employee stock purchase plan	101			101
Share-based compensation	2,789			2,789
Net loss	(11,867)					(11,867)
Ending balance (in shares) at Mar. 31, 2023			8,390,424
Ending balance at Mar. 31, 2023	(20,167)		$ 1	214,457		(234,625)
Beginning balance (in shares) at Dec. 31, 2022		0
Beginning balance at Dec. 31, 2022		$ 0
Ending balance (in shares) at Jun. 30, 2023		30,000
Ending balance at Jun. 30, 2023		$ 5,593
Beginning balance (in shares) at Dec. 31, 2022			8,242,009
Beginning balance at Dec. 31, 2022	(10,635)		$ 1	212,122		(222,758)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(20,334)
Ending balance (in shares) at Jun. 30, 2023			8,441,683
Ending balance at Jun. 30, 2023	(27,316)		$ 1	215,775		(243,092)
Beginning balance (in shares) at Mar. 31, 2023		30,000
Beginning balance at Mar. 31, 2023		$ 4,267
Increase (Decrease) in Temporary Equity [Roll Forward]
Accretion on Series A convertible preferred stock	(1,326)	$ 1,326			$ (1,326)
Ending balance (in shares) at Jun. 30, 2023		30,000
Ending balance at Jun. 30, 2023		$ 5,593
Beginning balance (in shares) at Mar. 31, 2023			8,390,424
Beginning balance at Mar. 31, 2023	(20,167)		$ 1	214,457		(234,625)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock for restricted stock units vesting (in shares)			51,259
Share-based compensation	2,644			2,644
Net loss	(8,467)					(8,467)
Ending balance (in shares) at Jun. 30, 2023			8,441,683
Ending balance at Jun. 30, 2023	$ (27,316)		$ 1	$ 215,775		$ (243,092)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net loss	$ (20,334)	$ (40,476)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	530	707
Share-based compensation	5,433	6,575
Common stock warrant liability adjustment	(283)	(1,935)
Amortization of right of use assets	667	602
Other adjustments, net	94	512
Changes in assets and liabilities:
Accounts receivable	2,925	(13,922)
Prepaid expenses and other assets	4,103	8,756
Inventory	6,222	(11,392)
Accounts payable and accrued and other expenses	(16,134)	(4,499)
Other, net	20	(588)
Net cash used in operating activities	(16,757)	(55,660)
Cash flows from investing activities
Purchase of property and equipment	(6)	(419)
Purchase of intangible assets	(13)	(824)
Net cash used in investing activities	(19)	(1,243)
Cash flows from financing activities
Proceeds from issuance of preferred stock, net of $295 of paid transaction costs	29,793	0
Proceeds from short-term borrowings	52,531	22,583
Payments of short-term borrowings	(51,189)	(20,693)
Proceeds from Issuance of Long-Term Debt	500	0
Payments of long-term borrowings	(1,500)	(3,000)
Other, net	156	215
Net cash provided by (used in) financing activities	30,291	(895)
Net change in cash and cash equivalents	13,515	(57,798)
Cash and cash equivalents at beginning of period	11,231	95,054
Cash and cash equivalents at end of period	$ 24,746	$ 37,256

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and applicable rules and regulations of the U.S. Securities and Exchange Commission (the "SEC") regarding interim financial reporting. The condensed consolidated balance sheet as of December 31, 2022, included herein, was derived from the audited consolidated financial statements as of that date, but does not include all disclosures including certain notes required by U.S. GAAP on an annual reporting basis. All intercompany transactions and balances have been eliminated in consolidation. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary for the fair statement of the Company’s financial position, results of operations, and cash flows for the interim periods presented. All dollar amounts, except per share amounts, in the notes are presented in thousands, unless otherwise specified. Certain prior year amounts have been reclassified to conform to the current period presentation. Reverse Stock Split On July 7, 2023, the Company filed with the Secretary of State of the State of Delaware a Certificate of Amendment to its Second Amended and Restated Certificate of Incorporation (the “Charter Amendment”) to effect a one-for-14 reverse stock split (the “Reverse Stock Split”) of the Company’s common stock and a reduction in the number of authorized shares of common stock and authorized but unissued shares of the Company’s preferred stock. The number of authorized shares of Common Stock was reduced from 1,000,000,000 shares to 107,142,857 shares, which reflects a reduction to 1.5 times the then current number of authorized shares of Common Stock, divided by the Reverse Stock Split ratio. The Reverse Stock Split also reduced the number of authorized shares of preferred stock from 100,000,000 shares to 10,741,071 shares, which reflects a reduction to 1.5 times the then current number of authorized but unissued shares of preferred stock, divided by the Reverse Stock Split ratio. The Reverse Stock Split became effective on July 7, 2023. There was no net effect on total stockholders' equity, and the par value per share of our common stock remains unchanged at $0.0001 per share after the Reverse Stock Split. All references made to share or per share amounts in the accompanying condensed consolidated financial statements and applicable disclosures have been retroactively adjusted for all periods presented to reflect the applicable effects of the Reverse Stock Split and the reduction in the number of authorized shares of common stock and preferred stock effected by the Charter Amendment. Risks and Uncertainties In accordance with ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40), the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the condensed consolidated financial statements are issued. Since inception, the Company has experienced recurring operating losses and generated negative cash flows from operations, resulting in an accumulated deficit of $243,092 as of June 30, 2023. During the six months ended June 30, 2023 and 2022, we had negative cash flows from operations of $16,757 and $55,660, respectively. As of June 30, 2023, we had $24,746 of cash on hand. Year over year declines in revenue, the low, current cash balance, recurring operating losses, and negative cash flows from operations since inception raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the accompanying condensed consolidated financial statements are issued. The accompanying condensed consolidated financial statements have been prepared on a going concern basis and accordingly, do not include any adjustments relating to the recoverability and classification of asset carrying amounts, or the amount and classification of liabilities that might result should the Company be unable to continue as a going concern. As the Company continues to address these financial conditions, management has undertaken the following actions: • As described further in Note 7, on February 17, 2023 the Company consummated a sale of newly issued preferred stock and warrants to purchase its common stock for aggregate gross proceeds of $30,000. • As described in Note 4, in March 2023 the Company further amended its financing arrangement with SVB, under which the principal payments on the term note will be deferred until September 2023. This most recent amendment also revised the financial covenants for future periods. • During the year ended December 31, 2022, the Company undertook restructuring actions, which significantly reduced employee headcount and reduced operating spend. This included the reduction of consulting and outside services, the reduction of marketing programs, and the prioritization of and sequencing of research and development projects. We have not generated sufficient cash flows from operations to satisfy our capital requirements. There can be no assurance that the Company will generate sufficient future cash flows from operations due to potential factors, including but not limited to inflation, recession, reduced demand for the Company’s products, or the FDA's denial of the Company's de novo classification request for marketing authorization. If revenues further decrease from current levels, the Company may be unable to further reduce costs, or such reductions may limit our ability to pursue strategic initiatives and grow revenues in the future. There can be no assurance that we will be able to obtain additional financing on terms acceptable to us, if at all. Failure to secure additional funding may require us to modify, delay or abandon some of our planned future development, or to otherwise enact further operating cost reductions, which could have a material adverse effect on our business, operating results, financial condition and ability to achieve our intended business objectives. If we raise additional funds through further issuances of equity or convertible debt securities, our existing stockholders could suffer significant dilution, and any new equity securities we issue could have rights, preferences, and privileges superior to those of holders of our common stock. If we are unable to obtain adequate financing or financing on terms satisfactory to us when we require it, our ability to continue to pursue our business objectives and to respond to business opportunities, challenges, or unforeseen circumstances could be significantly limited, and our business, financial condition and results of operations could be materially adversely affected. We also could be required to seek funds through arrangements with partners or others that may require us to relinquish rights or jointly own some aspects of our technologies, products or services that we would otherwise pursue on our own. The Company maintains its cash in bank deposit accounts which, at times, exceed federally insured limits. As of June 30, 2023, substantially all of the Company's cash was held with Silicon Valley Bank and Citibank, and exceeded federally insured limits. On March 10, 2023, Silicon Valley Bank was closed by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation ("FDIC") as receiver. On March 12, 2023, the Secretary of the Treasury, the chair of the Federal Reserve Board and the chairman of the FDIC released a joint statement related to the FDIC's resolution of the Silicon Valley Bank receivership, which provided that all depositors would have access to all their money starting March 13, 2023. As of the issuance date of these financial statements, all cash deposited by the Company with Silicon Valley Bank, now a division of First Citizens Bank and Trust Company, has been accessible by the Company.

Certain Balance Sheet Accounts

Certain Balance Sheet Accounts	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Certain Balance Sheet Accounts	Certain Balance Sheet Accounts Inventory Substantially all of the Company's inventory consisted of finished goods as of June 30, 2023 and December 31, 2022. Property and Equipment, net Property and equipment consisted of the following as of: June 30, 2023 December 31, 2022 Tooling and manufacturing equipment $ 2,731 $ 2,731 Furniture and fixtures 639 639 Computer equipment 601 660 Software 106 106 Leasehold improvements 35 29 Total property and equipment 4,112 4,165 Less accumulated depreciation and amortization (3,503) (3,057) Property and equipment, net $ 609 $ 1,108 Depreciation and amortization expense on property and equipment was $225 and $320 for the three months ended June 30, 2023 and June 30, 2022, respectively. For the three months ended June 30, 2023 and June 30, 2022, the Company allocated $148 and $208, respectively, of depreciation and amortization expense related to tooling and manufacturing equipment and software to cost of revenues. Depreciation and amortization expense on property and equipment was $500 and $629 for the six months ended June 30, 2023 and June 30, 2022, respectively. For the six months ended June 30, 2023 and June 30, 2022, the Company allocated $330 and $398, respectively, of depreciation and amortization expense related to tooling and manufacturing equipment and software to cost of revenues. Intangible Assets Subject to Amortization Intangible assets were $2,253, net of accumulated amortization of $236 as of June 30, 2023 and $2,279, net of accumulated amortization of $206, as of December 31, 2022. Capitalized software development costs were $1,873 on June 30, 2023 and December 31, 2022. The Company's internally developed software capitalized within intangible assets on the balance sheet is still in development and not ready for general release. As such, the Company has not recognized any amortization for the three or six months ended June 30, 2023 or 2022. The Company did not recognize any impairment charges for intangible assets during the three or six months ended June 30, 2023 or 2022. Accrued and Other Expenses On October 1, 2021, the Company received a Warning Letter, later corrected in an amendment to the letter dated October 5, 2021 (the “Warning Letter”), from the U.S. Food and Drug Administration (the “FDA”) regarding the Owlet Smart Sock. During the fourth quarter of 2021, the Company agreed with certain customers and retailers to accept returns of the Owlet Smart Sock and Owlet Monitor Duo. Accrued and other expenses, among other things, included accrued sales returns of $1,717 and $6,756 as of June 30, 2023 and December 31, 2022, respectively. Accrued sales returns included $36 and $4,958 as of June 30, 2023 and December 31, 2022, respectively, for product returns related to the Warning Letter. Changes in accrued warranty were as follows: For the Three Months Ended June 30, 2023 2022 Accrued warranty, beginning of period $ 592 $ 725 Provision for warranties issued during the period 81 193 Settlements of warranty claims during the period (82) (143) Accrued warranty, end of period $ 591 $ 775 For the Six Months Ended June 30, 2023 2022 Accrued warranty, beginning of period $ 712 $ 661 Provision for warranties issued during the period 116 394 Settlements of warranty claims during the period (237) (280) Accrued warranty, end of period $ 591 $ 775

Deferred Revenues

Deferred Revenues	6 Months Ended
	Jun. 30, 2023
Deferred Revenue [Abstract]
Deferred Revenues	Deferred Revenues Deferred revenues relate to performance obligations for which payments are received from customers prior to the satisfaction of the Company’s obligations to its customers. Deferred revenues primarily consist of amounts allocated to the mobile application, unspecified upgrade rights, and content, and are recognized over the service period of the performance obligations, which range from 5 to 27 months. Changes in the total deferred revenues balance were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Beginning balance $ 1,257 $ 1,312 $ 1,386 $ 1,235 Deferral of revenues 480 687 820 1,430 Recognition of deferred revenues (514) (620) (983) (1,286) Ending balance $ 1,223 $ 1,379 $ 1,223 $ 1,379 The Company recognized $456 and $498 of revenue during the three months ended June 30, 2023 and 2022, respectively, that was included in the deferred revenue balance at the beginning of the respective period. The Company recognized $797 and $838 of revenue during the six months ended June 30, 2023 and 2022, respectively, that was included in the deferred revenue balance at the beginning of the respective period.

Long-Term Debt and Other Financ

Long-Term Debt and Other Financing Arrangements	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Long-Term Debt and Other Financing Arrangements	Long-Term Debt and Other Financing Arrangements The following is a summary of the Company’s long-term indebtedness as of: June 30, 2023 December 31, 2022 Term note payable to SVB, maturing on October 1, 2024 $ 7,000 $ 8,000 Financed insurance premium 204 2,353 Total debt 7,204 10,353 Less: current portion (5,204) (10,353) Total long-term debt, net $ 2,000 $ — Third Amended and Restated Loan and Security Agreement On November 23, 2022, the Company entered into the Third Amended and Restated Loan and Security Agreement (the “LSA”) with Silicon Valley Bank. The LSA amended, restated and replaced in its entirety the prior Second Amended and Restated Loan and Security Agreement, dated April 22, 2020, and all prior amendments. On March 27, 2023, the Company entered into the first amendment to the LSA with Silicon Valley Bank, now a division of First Citizens Bank and Trust Company (the “SVB Amendment”), that (i) deferred certain payments of principal by the Company until September 1, 2023, (ii) had Silicon Valley Bank waive certain stated events of default, (iii) to expand the eligibility of inventory and accounts that the Company can borrow against, (iv) to modify certain financial covenants required of the Company, and (v) certain other revisions. In connection with the amendment to the LSA executed on March 27, 2023, the Company granted Silicon Valley Bank a warrant to purchase 10,714 shares of the Company's common stock at a price of $5.32 per share, expiring on March 27, 2035 (the "SVB Warrants"). The warrant was valued at $43 and is classified as equity and included within additional paid-in capital on the condensed consolidated balance sheet. See Note 7 for a summary of all common stock warrants currently outstanding. On August 10, 2023, the Company entered into the second amendment to the LSA with Silicon Valley Bank, now a division of First Citizens Bank and Trust Company, that clarified the calculation of the financial covenants under the agreement. As of the date of this Report, the Company was in compliance with all applicable covenants under the LSA. Line of Credit The LSA provides for a $10,000 revolving line of credit (the “SVB Revolver”) as of June 30, 2023. The SVB Revolver is an asset-based lending facility subject to borrowing base availability, which is limited by specified percentages of eligible accounts receivable and eligible inventory. Borrowing base availability can be impacted based upon the period's eligible accounts receivable and eligible inventory and may be significantly lower than the full $10,000 line of credit. As of June 30, 2023, borrowing base availability was $8,364. The SVB Revolver facility matures and terminates on April 22, 2024. As of June 30, 2023, the SVB Revolver bore interest on the outstanding principal amount at a floating rate per annum equal to the greater of (i) 5.00% and (ii) the prime rate plus the prime rate margin, which is 2.25% for advances on the SVB Revolver, as defined by the LSA. As of June 30, 2023 there was $8,176 of outstanding borrowings under the SVB Revolver. Term Loan The LSA also provided for an $8,500 term loan (the “Term Loan”), replacing the term loans made under the previous agreement, of which $7,000 was outstanding as of June 30, 2023. The Term Loan amortizes with equal monthly installments of $500 and matures on October 1, 2024 (the "Term Loan Maturity Date"). The Term Loan accrues interest on the outstanding principal amount at a floating rate per annum equal to the greater of (i) five and three-quarters percent (5.75%) and (ii) the prime rate plus the prime rate margin, which is 3.50% for the Term Loan (as defined in the LSA), and such interest is payable (a) monthly in arrears, (b) on each prepayment date and (c) on the Term Loan Maturity Date. All outstanding principal and accrued and unpaid interest and all other Term Loan-related outstanding obligations shall become due and payable in full on the Term Loan Maturity Date. The Company believes that the fair value of the Term Loan approximates the recorded amount as of June 30, 2023 and December 31, 2022, as the interest rates on the long-term debt are variable and the rates are based on market interest rates (bank's prime rate) after consideration of default and credit risk (using Level 2 inputs). Future Aggregate Maturities As of June 30, 2023, future aggregate maturities of the Term Note and Financed Insurance Premium payables were as follows: Years Ending December 31, Amount 2023 (excluding the six months ended June 30, 2023) $ 2,204 2024 5,000 Total $ 7,204 Financed Insurance Premium In July 2022, the Company renewed its corporate directors & officers and employment liability policies and entered into a new short-term commercial premium finance agreement with First Insurance Funding totaling $3,041 to be paid in eleven equal monthly payments, all of which accrue interest at a rate of 4.40%. In October 2022, the Company obtained additional general corporate liability policies and entered into an additional short-term commercial premium finance agreement with First Insurance Funding totaling $826 to be paid in eleven equal monthly payments, accruing interest at a rate of 6.80%. As of June 30, 2023, the remaining principal balance on the combined financed insurance premiums was $204.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies During February 2023, the Company entered an agreement with a significant vendor to pay $3,000 of interest over 36 months with respect to past due payables. The present value of the future payments was expensed and included within interest expense, net on the condensed consolidated statements of operations for the six months ended June 30, 2023. Litigation The Company is involved in legal proceedings from time to time arising in the normal course of business. Management, after consultation with legal counsel, believes that the outcome of these proceedings will not have a material impact on the Company’s financial position, results of operations, or liquidity. In November 2021, two putative class action complaints were filed against us in the U.S. District Court for the Central District of California, Butala v. Owlet, Inc., et al., Case No. 2:21-cv-09016, and Cherian v. Owlet, Inc., et al., Case No. 2:21-cv-09293. Both complaints allege violations of the Securities Exchange Act of 1934 ("Exchange Act") against the Company and certain of its officers and directors on behalf of a putative class of investors who (i) purchased the Company’s common stock between March 31, 2021 and October 4, 2021 or (ii) held common stock in Sandbridge Acquisition Corporation (“SBG”) as of June 1, 2021 and were eligible to vote at SBG’s special meeting held on July 14, 2021. Both complaints allege, among other things, that the Company and certain of its officers and directors made false and/or misleading statements and failed to disclose certain information regarding the FDA’s likely classification of the Smart Sock product as a medical device requiring marketing authorization. The Court has consolidated the Butala and Cherian cases but has yet to appoint a lead plaintiff. The Company intends to vigorously defend itself against these claims, including by filing a motion to dismiss on behalf of itself and the named officers and directors. Indemnification In the ordinary course of business, the Company enters into agreements that may include indemnification provisions. Pursuant to such agreements, the Company may indemnify, hold harmless, and defend an indemnified party for losses suffered or incurred by the indemnified party. Some of the provisions will limit losses to those arising from third party actions. In some cases, the indemnification will continue after the termination of the agreement. The maximum potential amount of future payments the Company could be required to make under these provisions is not determinable. The Company has never incurred material costs to defend lawsuits or settle claims related to these indemnification provisions. The Company has entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers to the fullest extent permitted by Delaware corporate law. The Company currently has directors’ and officers’ insurance coverage that reduces its exposure and enables the Company to recover a portion of any future amounts paid. The Company believes the estimated fair value of these indemnification agreements in excess of applicable insurance coverage is immaterial.

Share-based Compensation

Share-based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-based Compensation	Stock-based Compensation The Company has various stock compensation plans, which are more fully described in Part II, Item 8 "Financial Statements and Supplementary Data - Note 10 to the Consolidated Financial Statements - Share-based Compensation" in the 2022 Annual Report on Form 10-K. Under the 2021 Incentive Award Plan, the Company has the ability to grant options, stock appreciation rights, restricted stock, restricted stock units ("RSU"), performance stock units ("PRSU"), dividend equivalents, or other stock or cash-based awards to employees, directors, or consultants. Option awards are generally granted with an exercise price equal to the fair value of the Company’s common stock at the date of grant. Options, RSU, and PRSU awards generally vest over a period of four years. Stock-based Compensation Expense Total stock-based compensation was recognized as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 General and administrative $ 1,461 $ 1,864 $ 2,897 $ 3408 Sales and marketing 476 673 968 1,413 Research and development 707 720 1,568 1,754 Total stock-based compensation $ 2,644 $ 3,257 $ 5,433 $ 6,575 During the three and six months ended June 30, 2022, the Company capitalized $16 and $33 of stock-based compensation attributable to internally developed software. There was no stock-based compensation capitalized during the three or six months ended June 30, 2023.

Convertible Preferred Stock and

Convertible Preferred Stock and Common Stock Warrants	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Convertible Preferred Stock and Common Stock Warrants	Common Stock Warrants February 2023 Offering On February 17, 2023 the Company entered into private placement investment agreements with certain investors, pursuant to which the Company issued and sold to the investors (i) an aggregate of 30,000 shares of the Company’s Series A convertible preferred stock, par value $0.0001 per share and (ii) warrants to purchase an aggregate of 7,871,712 shares of the Company’s common stock, par value $0.0001 per share, (“February 2023 Warrants”) for an aggregate purchase price of $30,000. The Series A convertible preferred stock is convertible into common stock at the option of the holder at any time after February 17, 2023 and ranks, with respect to dividend rights, rights of redemption and rights upon a liquidation event, (i) senior to the common stock and all other classes or series of equity securities of the Company established after February 17, 2023, unless such shares or equity securities expressly provide that they rank in parity with or senior to the Series A convertible preferred stock with respect to dividend rights, rights of redemption or rights upon a liquidation event, (ii) on parity with each class or series of equity securities of the Company established after the February 17, 2023, the terms of which expressly provide that it ranks on parity with the Series A convertible preferred stock with respect to dividend rights, rights of redemption and rights upon a liquidation event and (iii) junior to each class or series of equity securities of the Company established after February 17, 2023, the terms of which expressly provide that it ranks senior to the Series A convertible preferred stock with respect to dividend rights, rights of redemption and rights upon a liquidation event. Except as otherwise provided in the certificate of designation relating to the Series A convertible preferred stock or as required by law, holders of shares of Series A convertible preferred stock are entitled to vote with the holders of shares of common stock (and any other class or series that may similarly be entitled to vote with the holders of common stock) on an as-converted to common stock basis at any annual or special meeting of stockholders of the Company, and not as a separate class. At any time from and after February 17, 2028, the holders of at least a majority of the then outstanding shares of Series A convertible preferred stock may specify a date and time or the occurrence of an event by vote or written consent that all, and not less than all, of the outstanding shares of Series A preferred stock will automatically be: (i) converted into shares of common stock at a conversion rate of 145.7726 per share (the "Conversion Rate"), (ii) subject to certain exceptions and limitations, redeemed for an amount per share of Series A preferred stock equal to the liquidation preference of one thousand dollars per share, plus all accrued or declared but unpaid dividends as of the redemption date and time or (iii) a combination of the foregoing. Subject to certain exceptions, upon the occurrence of a fundamental change, voluntary or involuntary liquidation, dissolution or winding-up of the Company, the Company will be required to pay an amount per share of Series A Preferred Stock equal to the greater of (i) one thousand dollars per share or (ii) the consideration per share of Series A Preferred Stock as would have been payable had all such shares been converted to common stock immediately prior to the liquidation event, plus, in each case, the aggregate amount of all declared but unpaid dividends thereon to the date of final distribution to the holders of Series A Preferred Stock. Each of the February 2023 Warrants sold in the private placement offering is exercisable for one share of common stock at an exercise price of $4.66 per share, is immediately exercisable, and will expire on February 17, 2028. None of the warrants have been exercised as of June 30, 2023. As the February 2023 Warrants could require cash settlement in certain scenarios, the warrants were classified as liabilities upon issuance and were initially recorded at an aggregate estimated fair value of $26,133. The total proceeds from the offering were first allocated to the liability classified warrants, based on their fair values, with the residual $3,867 allocated to the Series A convertible preferred stock. The Series A convertible stock will accrete to its redemption value, starting from the issuance date to the date at which the shares become redeemable on February 17, 2028. Accretion will be recorded as a deemed dividend. The Company incurred $1,963 of issuance costs related to the offering, of which $295 were paid as of June 30, 2023. Issuance costs allocated to the preferred stock of $253 were recorded as a reduction to the Series A preferred stock. Issuance costs allocated to the liability classified warrants of $1,710 were recorded as an expense within general and administrative expenses. In connection with the issuance of these interim statements we have updated the classification of the preferred stock issuance costs incurred during the three months ended March 31, 2023 from a reduction of APIC to a reduction of the preferred stock carrying amount. SBG Common Stock Warrants As a result of the merger completed with Sandbridge Acquisition Corporation ("SBG") on July 15, 2021 (the "Merger"), the Company continues to record liabilities for warrants issued by SBG prior to the Merger. Pursuant to the SBG initial public offering, SBG sold warrants to purchase an aggregate of 821,428 shares of the Company’s common stock at a price of $161.00 per share (“SBG Public Warrants”). Following the closing of the Initial Public Offering on September 17, 2020, the Company completed the sale of warrants to purchase an aggregate of 471,428 shares of the Company’s common stock at a price of $161.00 per share in a private placement to Sandbridge Acquisition Holdings LLC (the “SBG Private Placement Warrants”). Together, the SBG Public Warrants and SBG Private Placement Warrants are referred to as the "SBG Common Stock Warrants." The SBG Public Warrants became exercisable 12 months from the closing of the Initial Public Offering. The SBG Common Stock Warrants will expire five years after the completion of the Merger or earlier upon redemption or liquidation. See Part II, Item 8 "Financial Statements and Supplementary Data - Note 3 to the Consolidated Financial Statements - Merger" in the 2022 Annual Report on Form 10-K for the year ended December 31, 2022 (the "Form 10-K") for more information. The following table summarizes issuable shares of the Company's common stock based on warrant activity for the six months ended June 30, 2023: As of December 31, 2022 Shares Issuable by New Warrants Shares Purchased by Exercise As of June 30, 2023 SBG Public Warrants 821,428 — — 821,428 SBG Private Placement Warrants 471,428 — — 471,428 February 2023 Warrants — 7,871,712 — 7,871,712 SVB Warrants (Note 4) — 10,714 — 10,714 Total 1,292,856 7,882,426 — 9,175,282

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value MeasurementsThe following table presents information about the Company's assets and liabilities measured and reported in the financial statements at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. June 30, 2023 Level 1 Level 2 Level 3 Balance Assets: Money market funds $ 20,556 $ — $ — $ 20,556 Total assets $ 20,556 $ — $ — $ 20,556 Liabilities: SBG Public Warrants $ — $ — $ 149 $ 149 SBG Private Placement Warrants — — 86 86 February 2023 Warrants — — 26,339 26,339 Total liabilities $ — $ — $ 26,574 $ 26,574 December 31, 2022 Level 1 Level 2 Level 3 Balance Assets: Money market funds $ 11,070 $ — $ — $ 11,070 Total assets $ 11,070 $ — $ — $ 11,070 Liabilities: SBG Public Warrants $ 460 $ — $ — $ 460 SBG Private Placement Warrants — 264 — 264 Total liabilities $ 460 $ 264 $ — $ 724 Money market funds are included within Level 1 of the fair value hierarchy because they are valued using quoted market prices. The SBG Public Warrants and SBG Private Placement Warrants as of June 30, 2023 are presented in Level 3 of the fair value hierarchy. On June 15, 2023, the Company received notice from the New York Stock Exchange (the “NYSE”) that the NYSE had halted trading in the SBG Public Warrants due to the low trading price of those warrants. On June 16, 2023, the NYSE provided written notice to the Company and publicly announced that NYSE Regulation had determined to commence proceedings to delist the SBG Public Warrants and that such warrants were no longer suitable for listing based on “abnormally low” price levels, pursuant to Section 802.01D of the NYSE Listed Company Manual. As such, these instruments are no longer valued using quoted market prices and correspondingly, the SBG Private Placement Warrants can no longer be valued based on a quoted market price of the SBG Public Warrants. The Company measured the fair value of both the SBG Public Warrants and the SBG Private Placement Warrants as of June 30, 2023, using the Black-Scholes option pricing model with the following assumptions: SBG Common Stock Warrants - Black-Scholes Inputs June 30, 2023 OWLT stock price $ 4.76 Exercise price of warrants $ 161.00 Term in years 3.04 Risk-free interest rate 4.48 % Volatility 90.00 % The February 2023 Warrants are presented as Level 3 measurements, relying on unobservable inputs reflecting the Company's own assumptions. Level 3 measurements, which are not based on quoted prices in active markets, introduce a higher degree of subjectivity and may be more sensitive to fluctuations in stock price, volatility rates, and U.S. Treasury Bond rates. The Company measured the fair value of the February 2023 Warrants at issuance and again as of June 30, 2023, using the Black-Scholes option pricing model with the following assumptions: February 2023 Warrants - Black-Scholes Inputs February 17, 2023 June 30, 2023 OWLT stock price $ 4.78 $ 4.76 Exercise price of warrants $ 4.66 $ 4.66 Term in years 5.00 4.63 Risk-free interest rate 4.10 % 4.20 % Volatility 85.00 % 90.00 % The following table presents a reconciliation of the Company’s SBG Public Warrants, SBG Private Placement Warrants, and February 2023 Warrants (together, the "Level 3 Warrants") measured at fair value on a recurring basis as of June 30, 2023: Level 3 Warrants Balance as of December 31, 2022 $ 724 Issuance of February 2023 Warrants 26,133 Change in fair value included within common stock warrant liability adjustment (283) Balance as of June 30, 2023 $ 26,574 There were no transfers between Level 1 and Level 2 in the periods reported. The SBG Public Warrants and SBG Private Placement Warrants were transferred into Level 3 in the period reported, as discussed above. The Company measured the fair value of the SVB Warrants (see Note 4) at issuance as of March 27, 2023, using the Black-Scholes option pricing model with the following assumptions: SVB Warrants - Black-Scholes Inputs March 27, 2023 OWLT stock price $ 4.62 Exercise price of warrants $ 5.32 Term in years 12.00 Risk-free interest rate 3.60 % Volatility 85.00 %

Net Loss Per Share Attributable

Net Loss Per Share Attributable to Common Stockholders	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Net Loss Per Share Attributable to Common Stockholders	Net Loss Per Share Attributable to Common Stockholders Basic and diluted net loss per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities. Under the two-class method, net loss is attributed to common stockholders and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The two-class method requires income available to common stockholders for the period to be allocated between common and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed. The Company considers its convertible preferred stock to be participating securities. Under the two-class method, the net loss attributable to common stockholders is not allocated to the convertible preferred stock as the holders of the Company’s convertible preferred stock do not have a contractual obligation to share in the Company’s losses. The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Numerator: Net loss and comprehensive loss $ (8,467) $ (11,718) $ (20,334) $ (40,476) Accretion on Series A convertible preferred stock (1,326) — (1,979) — Net loss attributable to common stockholders (1) $ (9,793) $ (11,718) $ (22,313) $ (40,476) Denominator: Weighted-average common shares used in computed net loss per share attributable to common stockholders basic and diluted 8,213,247 7,915,156 8,162,102 7,899,959 Net loss per share attributable to common stockholders basic and diluted $ (1.19) $ (1.48) $ (2.73) $ (5.12) (1) For the three and six months ended June 30, 2023, the Company did not allocate its net loss to participating convertible preferred stock as those shares are not obligated to share in the losses of the Company. There were no shares of convertible preferred stock outstanding during the three or six months ended June 30, 2022. . The following table summarizes the common stock equivalents of potentially dilutive outstanding securities excluded from the computation of diluted net loss per share due to their anti-dilutive effect: As of June 30, As of June 30, 2023 2022 Stock options 473,240 665,117 RSUs 299,646 482,987 PRSUs 79,803 131,578 ESPP shares committed 28,721 17,849 Common stock warrants 9,175,289 1,292,857 Convertible preferred stock 4,373,178 — Total 14,429,877 2,590,388 The Company’s 200,536 unvested earnout shares, described in Part II, Item 8 "Financial Statements and Supplementary Data - Note 11 to the Consolidated Financial Statements - Common Stock Warrants and Earnout

Segments

Segments	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segments	Segments The Company operates as a single operating segment. The Company’s chief operating decision maker manages the Company's operations on a consolidated basis for purposes of allocating resources, making operating decisions, and evaluating financial performance. Since the Company operates in one operating segment, all required financial segment information can be found in these consolidated financial statements. Revenue by geographic area is based on the delivery address of the customer and is summarized as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 United States $ 11,834 $ 15,876 $ 21,377 $ 34,589 International 1,254 2,472 2,447 5,298 Total revenues $ 13,088 $ 18,348 $ 23,824 $ 39,887 Other than the United States, no individual country exceeded 10% of total revenues for the three or six months ended June 30, 2023 and June 30, 2022. The Company’s long-lived assets are composed of property and equipment and right of use assets, net, and are summarized by geographic area as follows as of (in thousands): June 30, 2023 December 31, 2022 United States $ 1,813 $ 2,615 International 435 753 Total long-lived assets, net $ 2,248 $ 3,368

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Recently Adopted Accounting Pronouncements In June 2016, the Financing Accounting Standards Board ("FASB") issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and has since released various amendments including ASU No. 2019-04 and ASU No. 2022-02. The guidance modifies the measurement of expected credit losses on certain financial instruments. The Company adopted ASU 2016-13 for the six months ended June 30, 2023. The impact of adoption was immaterial.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and applicable rules and regulations of the U.S. Securities and Exchange Commission (the "SEC") regarding interim financial reporting. The condensed consolidated balance sheet as of December 31, 2022, included herein, was derived from the audited consolidated financial statements as of that date, but does not include all disclosures including certain notes required by U.S. GAAP on an annual reporting basis. All intercompany transactions and balances have been eliminated in consolidation. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary for the fair statement of the Company’s financial position, results of operations, and cash flows for the interim periods presented. All dollar amounts, except per share amounts, in the notes are presented in thousands, unless otherwise specified. Certain prior year amounts have been reclassified to conform to the current period presentation.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the Financing Accounting Standards Board ("FASB") issued ASU 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, and has since released various amendments including ASU No. 2019-04 and ASU No. 2022-02. The guidance modifies the measurement of expected credit losses on certain financial instruments. The Company adopted ASU 2016-13 for the six months ended June 30, 2023. The impact of adoption was immaterial.

Certain Balance Sheet Accounts

Certain Balance Sheet Accounts (Tables)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following as of: June 30, 2023 December 31, 2022 Tooling and manufacturing equipment $ 2,731 $ 2,731 Furniture and fixtures 639 639 Computer equipment 601 660 Software 106 106 Leasehold improvements 35 29 Total property and equipment 4,112 4,165 Less accumulated depreciation and amortization (3,503) (3,057) Property and equipment, net $ 609 $ 1,108
Schedule of Accrued Warranty	Changes in accrued warranty were as follows: For the Three Months Ended June 30, 2023 2022 Accrued warranty, beginning of period $ 592 $ 725 Provision for warranties issued during the period 81 193 Settlements of warranty claims during the period (82) (143) Accrued warranty, end of period $ 591 $ 775 For the Six Months Ended June 30, 2023 2022 Accrued warranty, beginning of period $ 712 $ 661 Provision for warranties issued during the period 116 394 Settlements of warranty claims during the period (237) (280) Accrued warranty, end of period $ 591 $ 775

Deferred Revenues (Tables)

Deferred Revenues (Tables)	6 Months Ended
	Jun. 30, 2023
Deferred Revenue [Abstract]
Summary of Changes in the total deferred revenues balance	Changes in the total deferred revenues balance were as follows: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Beginning balance $ 1,257 $ 1,312 $ 1,386 $ 1,235 Deferral of revenues 480 687 820 1,430 Recognition of deferred revenues (514) (620) (983) (1,286) Ending balance $ 1,223 $ 1,379 $ 1,223 $ 1,379

Long-Term Debt and Other Fina_2

Long-Term Debt and Other Financing Arrangements (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Summary of the Company's Long-term Indebtedness	The following is a summary of the Company’s long-term indebtedness as of: June 30, 2023 December 31, 2022 Term note payable to SVB, maturing on October 1, 2024 $ 7,000 $ 8,000 Financed insurance premium 204 2,353 Total debt 7,204 10,353 Less: current portion (5,204) (10,353) Total long-term debt, net $ 2,000 $ —
Summary of Future Aggregate Maturities of Notes Payable	As of June 30, 2023, future aggregate maturities of the Term Note and Financed Insurance Premium payables were as follows: Years Ending December 31, Amount 2023 (excluding the six months ended June 30, 2023) $ 2,204 2024 5,000 Total $ 7,204

Share-based Compensation (Table

Share-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense	Total stock-based compensation was recognized as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 General and administrative $ 1,461 $ 1,864 $ 2,897 $ 3408 Sales and marketing 476 673 968 1,413 Research and development 707 720 1,568 1,754 Total stock-based compensation $ 2,644 $ 3,257 $ 5,433 $ 6,575

Convertible Preferred Stock a_2

Convertible Preferred Stock and Common Stock Warrants (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Warrant Activity	The following table summarizes issuable shares of the Company's common stock based on warrant activity for the six months ended June 30, 2023: As of December 31, 2022 Shares Issuable by New Warrants Shares Purchased by Exercise As of June 30, 2023 SBG Public Warrants 821,428 — — 821,428 SBG Private Placement Warrants 471,428 — — 471,428 February 2023 Warrants — 7,871,712 — 7,871,712 SVB Warrants (Note 4) — 10,714 — 10,714 Total 1,292,856 7,882,426 — 9,175,282

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Fair Value Measurement	The following table presents information about the Company's assets and liabilities measured and reported in the financial statements at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. June 30, 2023 Level 1 Level 2 Level 3 Balance Assets: Money market funds $ 20,556 $ — $ — $ 20,556 Total assets $ 20,556 $ — $ — $ 20,556 Liabilities: SBG Public Warrants $ — $ — $ 149 $ 149 SBG Private Placement Warrants — — 86 86 February 2023 Warrants — — 26,339 26,339 Total liabilities $ — $ — $ 26,574 $ 26,574 December 31, 2022 Level 1 Level 2 Level 3 Balance Assets: Money market funds $ 11,070 $ — $ — $ 11,070 Total assets $ 11,070 $ — $ — $ 11,070 Liabilities: SBG Public Warrants $ 460 $ — $ — $ 460 SBG Private Placement Warrants — 264 — 264 Total liabilities $ 460 $ 264 $ — $ 724
Schedule of Black-Scholes Option Pricing Model Assumptions	The Company measured the fair value of both the SBG Public Warrants and the SBG Private Placement Warrants as of June 30, 2023, using the Black-Scholes option pricing model with the following assumptions: SBG Common Stock Warrants - Black-Scholes Inputs June 30, 2023 OWLT stock price $ 4.76 Exercise price of warrants $ 161.00 Term in years 3.04 Risk-free interest rate 4.48 % Volatility 90.00 % February 2023 Warrants - Black-Scholes Inputs February 17, 2023 June 30, 2023 OWLT stock price $ 4.78 $ 4.76 Exercise price of warrants $ 4.66 $ 4.66 Term in years 5.00 4.63 Risk-free interest rate 4.10 % 4.20 % Volatility 85.00 % 90.00 % The Company measured the fair value of the SVB Warrants (see Note 4) at issuance as of March 27, 2023, using the Black-Scholes option pricing model with the following assumptions: SVB Warrants - Black-Scholes Inputs March 27, 2023 OWLT stock price $ 4.62 Exercise price of warrants $ 5.32 Term in years 12.00 Risk-free interest rate 3.60 % Volatility 85.00 %
Reconciliation of Preferred Stock Warrant Liability Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)	The following table presents a reconciliation of the Company’s SBG Public Warrants, SBG Private Placement Warrants, and February 2023 Warrants (together, the "Level 3 Warrants") measured at fair value on a recurring basis as of June 30, 2023: Level 3 Warrants Balance as of December 31, 2022 $ 724 Issuance of February 2023 Warrants 26,133 Change in fair value included within common stock warrant liability adjustment (283) Balance as of June 30, 2023 $ 26,574

Net Loss Per Share Attributab_2

Net Loss Per Share Attributable to Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Summary of Net Loss Attributable to Common Stockholders	The following table presents the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Numerator: Net loss and comprehensive loss $ (8,467) $ (11,718) $ (20,334) $ (40,476) Accretion on Series A convertible preferred stock (1,326) — (1,979) — Net loss attributable to common stockholders (1) $ (9,793) $ (11,718) $ (22,313) $ (40,476) Denominator: Weighted-average common shares used in computed net loss per share attributable to common stockholders basic and diluted 8,213,247 7,915,156 8,162,102 7,899,959 Net loss per share attributable to common stockholders basic and diluted $ (1.19) $ (1.48) $ (2.73) $ (5.12) (1) For the three and six months ended June 30, 2023, the Company did not allocate its net loss to participating convertible preferred stock as those shares are not obligated to share in the losses of the Company. There were no shares of convertible preferred stock outstanding during the three or six months ended June 30, 2022. .
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table summarizes the common stock equivalents of potentially dilutive outstanding securities excluded from the computation of diluted net loss per share due to their anti-dilutive effect: As of June 30, As of June 30, 2023 2022 Stock options 473,240 665,117 RSUs 299,646 482,987 PRSUs 79,803 131,578 ESPP shares committed 28,721 17,849 Common stock warrants 9,175,289 1,292,857 Convertible preferred stock 4,373,178 — Total 14,429,877 2,590,388

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Revenue by Geographic Areas	Revenue by geographic area is based on the delivery address of the customer and is summarized as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 United States $ 11,834 $ 15,876 $ 21,377 $ 34,589 International 1,254 2,472 2,447 5,298 Total revenues $ 13,088 $ 18,348 $ 23,824 $ 39,887
Schedule of Long-Lived Assets by Geographical Area	The Company’s long-lived assets are composed of property and equipment and right of use assets, net, and are summarized by geographic area as follows as of (in thousands): June 30, 2023 December 31, 2022 United States $ 1,813 $ 2,615 International 435 753 Total long-lived assets, net $ 2,248 $ 3,368

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) $ / shares in Units, $ in Thousands		6 Months Ended
	Jul. 07, 2023	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($)	Feb. 17, 2023 shares	Dec. 31, 2022 USD ($) $ / shares shares
Inventory [Line Items]
Accumulated Deficit		$ 243,092			$ 222,758
Cash flows from operations		(16,757)	$ (55,660)
Cash and cash equivalents		24,746			$ 11,231
Aggregate gross proceeds		$ 30,000
Series A Convertible Preferred Stock
Inventory [Line Items]
Temporary equity, shares issued (in shares) | shares		30,000		30,000	0
Temporary equity, par value (in dollars per share) | $ / shares		$ 0.0001			$ 0.0001
Subsequent Event
Inventory [Line Items]
Stock split ratio, Common stock	0.071

Certain Balance Sheet Account_2

Certain Balance Sheet Accounts - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 4,112	$ 4,165
Less accumulated depreciation and amortization	(3,503)	(3,057)
Property and equipment, net	609	1,108
Tooling and manufacturing equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	2,731	2,731
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment	639	639
Computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment	601	660
Software
Property, Plant and Equipment [Line Items]
Total property and equipment	106	106
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 35	$ 29

Certain Balance Sheet Account_3

Certain Balance Sheet Accounts - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Feb. 17, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Intangible assets, net	$ 2,253,000		$ 2,253,000			$ 2,279,000
Accumulated amortization	236,000		236,000			206,000
Capitalized software development costs	1,873,000		1,873,000
Capitalized computer software, amortization	0	$ 0	0	$ 0
Impairment of intangible assets, finite-lived	0	0	0	0
Accrued sales return current	$ 1,717,000		$ 1,717,000			$ 6,756,000
Series A Convertible Preferred Stock
Property, Plant and Equipment [Line Items]
Temporary equity, shares authorized (in shares)	10,741,071		10,741,071			10,741,071
Temporary equity, par value (in dollars per share)	$ 0.0001		$ 0.0001			$ 0.0001
Temporary equity, shares issued (in shares)	30,000		30,000		30,000	0
Customers For Which Returns Are Expected To Be Received
Property, Plant and Equipment [Line Items]
Accrued sales returns resulting from FDA Warning Letter	$ 36,000		$ 36,000			$ 4,958,000
Tooling and manufacturing equipment
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	148,000	208,000	330,000	398,000
Property and Equipment
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 225,000	$ 320,000	$ 500,000	$ 629,000

Certain Balance Sheet Account_4

Certain Balance Sheet Accounts - Summary of Changes In Accrued Warranty (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Accrued warranty, beginning of period	$ 592	$ 725	$ 712	$ 661
Provision for warranties issued during the period	81	193	116	394
Settlements of warranty claims during the period	(82)	(143)	(237)	(280)
Accrued warranty, end of period	$ 591	$ 775	$ 591	$ 775

Deferred Revenues (Details)

Deferred Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Recognition of deferred revenues	$ 456	$ 498	$ 797	$ 838
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Service period of the performance obligations	5 months		5 months
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Service period of the performance obligations	27 months		27 months

Deferred Revenues- Summary of C

Deferred Revenues- Summary of Changes in the Total Deferred Revenues Balance (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Contract With Customer, Liability [Roll Forward]
Beginning balance	$ 1,257	$ 1,312	$ 1,386	$ 1,235
Deferral of revenues	480	687	820	1,430
Recognition of deferred revenues	(514)	(620)	(983)	(1,286)
Ending balance	$ 1,223	$ 1,379	$ 1,223	$ 1,379

Long-Term Debt and Other Fina_3

Long-Term Debt and Other Financing Arrangements - Summary of the Company's Long-term Indebtedness (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Total debt	$ 7,204	$ 10,353
Less: current portion	(5,204)	(10,353)
Long-term debt, net	2,000	0
Term Note Payable to SVB
Line of Credit Facility [Line Items]
Total debt	7,000	8,000
Total Financed Insurance Premium
Line of Credit Facility [Line Items]
Total debt	$ 204	$ 2,353

Long-Term Debt and Other Fina_4

Long-Term Debt and Other Financing Arrangements - Narrative (Details)	1 Months Ended
	Jul. 31, 2023 USD ($) payment	Oct. 31, 2022 USD ($) payment	Jul. 31, 2022 USD ($) payment	Jun. 30, 2023 USD ($)	Mar. 27, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($)	Nov. 23, 2022 USD ($)
Debt Instrument [Line Items]
Borrowing capacity				$ 8,364,000
Total debt				7,204,000		$ 10,353,000
Outstanding borrowings				8,176,000
SVB Warrants
Debt Instrument [Line Items]
Number of securities called by warrants | shares					10,714
Exercise price of warrant (in dollars per share) | $ / shares					$ 5.32
Value of warrants					$ 43,000
Term Loan
Debt Instrument [Line Items]
Total debt				7,000,000			$ 8,500,000
Monthly installments							$ 500,000
Total Financed Insurance Premium
Debt Instrument [Line Items]
Total debt				204,000		$ 2,353,000
Financed Insurance Premium
Debt Instrument [Line Items]
Financed insurance liability to be paid			$ 3,041,000
Number of monthly payments | payment			11
Financed insurance premium accrued interest rate			4.40%
Financed Insurance Premium | Subsequent Event
Debt Instrument [Line Items]
Financed insurance liability to be paid	$ 927,000
Number of monthly payments | payment	11
Financed insurance premium accrued interest rate	8.29%
Financed Insurance Premium Two
Debt Instrument [Line Items]
Financed insurance liability to be paid		$ 826,000
Number of monthly payments | payment		11
Financed insurance premium accrued interest rate		6.80%
Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 10,000,000
Maximum | Line of Credit | Streamline Period In Effect
Debt Instrument [Line Items]
Interest rate				5%
Maximum | Line of Credit | All Other Times
Debt Instrument [Line Items]
Interest rate				5.75%
Maximum | Line of Credit | Prime Rate | Streamline Period In Effect
Debt Instrument [Line Items]
Interest rate				2.25%
Maximum | Line of Credit | Prime Rate | All Other Times
Debt Instrument [Line Items]
Interest rate				3.50%

Long-Term Debt and Other Fina_5

Long-Term Debt and Other Financing Arrangements - Summary of Future Aggregate Maturities of Notes Payable (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Debt Disclosure [Abstract]
2023 (excluding the six months ended June 30, 2023)	$ 2,204
2024	5,000
Total	$ 7,204

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Thousands	1 Months Ended
	Nov. 30, 2021 claim	Feb. 28, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Monthly interest payment to related party | $		$ 3,000
Monthly interest payment to related party, payment period		36 months
Number of new claims filed | claim	2

Share-based Compensation - Addi

Share-based Compensation - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation costs related to non-vested options	$ 1,565,000		$ 1,565,000
Software
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation capitalized	0	$ 16,000	$ 0	$ 33,000
PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Unrecognized share-based compensation cost, period for recognition			1 year 8 months 12 days
Unrecognized stock-based compensation costs related to unvested RSUs	651,000		$ 651,000
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Unrecognized share-based compensation cost, period for recognition			1 year 4 months 24 days
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Unrecognized share-based compensation cost, period for recognition			2 years 4 months 24 days
Unrecognized stock-based compensation costs related to unvested RSUs	$ 8,503,000		$ 8,503,000

Share-based Compensation - Stoc

Share-based Compensation - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 2,644	$ 3,257	$ 5,433	$ 6,575
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	1,461	1,864	2,897	3,408
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	476	673	968	1,413
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation	$ 707	$ 720	$ 1,568	$ 1,754

Convertible Preferred Stock a_3

Convertible Preferred Stock and Common Stock Warrants - February 2023 Offering (Details) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 17, 2023 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) $ / shares shares
Class of Warrant or Right [Line Items]
Common stock, shares issued (in shares) | shares		8,441,683		8,441,683		8,242,009
Common stock, par value (in dollars per share) | $ / shares		$ 0.0001		$ 0.0001		$ 0.0001
Proceeds from issuance of preferred stock, net of $295 of paid transaction costs				$ 29,793	$ 0
Warrants exercised | shares				0
Payments of stock issuance costs				$ 295
Preferred stock issuance costs		$ 253
General and administrative		$ 6,124	$ 9,492	$ 14,990	$ 19,769
February 2023 Warrants
Class of Warrant or Right [Line Items]
Common stock, shares issued (in shares) | shares	7,871,712
Common stock, par value (in dollars per share) | $ / shares	$ 0.0001
Proceeds from issuance of preferred stock, net of $295 of paid transaction costs	$ 30,000
Exercise price of warrant (in dollars per share) | $ / shares	$ 4.66
Aggregate estimated fair value of warrants	$ 26,133
Net proceeds from issuance of warrants	$ 3,867
Series A Convertible Preferred Stock
Class of Warrant or Right [Line Items]
Temporary equity, shares issued (in shares) | shares	30,000	30,000		30,000		0
Temporary equity, par value (in dollars per share) | $ / shares		$ 0.0001		$ 0.0001		$ 0.0001
Convertible preferred stock, conversion ratio	145.7726
Liquidation preference	$ 1	$ 30,000		$ 30,000		$ 30,000
Accrued stock issuance costs		1,963		$ 1,963
General and administrative		$ 1,710

Convertible Preferred Stock a_4

Convertible Preferred Stock and Common Stock Warrants - Additional Information (Details) - $ / shares		6 Months Ended
	Sep. 17, 2020	Jun. 30, 2023
Class of Stock [Line Items]
Period for warrants to become exercisable after IPO		12 months
Expiration period of warrants		5 years
Private Placement Warrants
Class of Stock [Line Items]
Sale of number of warrants	471,428
Initial Public Offering | Public Shares
Class of Stock [Line Items]
Units issued (in shares)	821,428
Initial Public Offering | Public Warrant
Class of Stock [Line Items]
Exercise price of warrant (in dollars per share)	$ 161

Convertible Preferred Stock a_5

Convertible Preferred Stock and Common Stock Warrants - Summary of Warrant Activity (Details)	6 Months Ended
	Jun. 30, 2023 shares
Schedule of Warrant Activity [Roll Forward]
As of December 31, 2022	1,292,856
Shares Issuable by New Warrants	7,882,426
Shares Purchased by Exercise	0
As of June 30, 2023	9,175,282
SBG Public Warrants
Schedule of Warrant Activity [Roll Forward]
As of December 31, 2022	821,428
Shares Issuable by New Warrants	0
Shares Purchased by Exercise	0
As of June 30, 2023	821,428
SBG Private Placement Warrants
Schedule of Warrant Activity [Roll Forward]
As of December 31, 2022	471,428
Shares Issuable by New Warrants	0
Shares Purchased by Exercise	0
As of June 30, 2023	471,428
February 2023 Warrants
Schedule of Warrant Activity [Roll Forward]
As of December 31, 2022	0
Shares Issuable by New Warrants	7,871,712
Shares Purchased by Exercise	0
As of June 30, 2023	7,871,712
SVB Warrants
Schedule of Warrant Activity [Roll Forward]
As of December 31, 2022	0
Shares Issuable by New Warrants	10,714
Shares Purchased by Exercise	0
As of June 30, 2023	10,714

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Assets and Liabilities Fair Value Measurement (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 20,556	$ 11,070
Total liabilities	26,574	724
SBG Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	149	460
SBG Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	86	264
February 2023 Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	26,339
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	20,556	11,070
Total liabilities	0	460
Level 1 | SBG Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0	460
Level 1 | SBG Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0	0
Level 1 | February 2023 Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Total liabilities	0	264
Level 2 | SBG Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0	0
Level 2 | SBG Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0	264
Level 2 | February 2023 Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Total liabilities	26,574	0
Level 3 | SBG Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	149	0
Level 3 | SBG Private Placement Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	86	0
Level 3 | February 2023 Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	26,339
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	20,556	11,070
Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	20,556	11,070
Money market funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Money market funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 0	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Black-Scholes Option Pricing Model Assumptions (Details)	Jun. 30, 2023	Mar. 27, 2023	Feb. 17, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expiration period of warrants	5 years
OWLT stock price | SBG Public Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement input	4.76
OWLT stock price | February 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement input	4.76		4.78
OWLT stock price | SVB Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement input		4.62
Exercise price of warrants | SBG Public Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement input	161
Exercise price of warrants | February 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement input	4.66		4.66
Exercise price of warrants | SVB Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement input		5.32
Term in years | SBG Public Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expiration period of warrants	3 years 14 days
Term in years | February 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expiration period of warrants	4 years 7 months 17 days		5 years
Term in years | SVB Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expiration period of warrants		12 years
Risk-free interest rate | SBG Public Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement input	0.0448
Risk-free interest rate | February 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement input	0.0420		0.0410
Risk-free interest rate | SVB Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement input		0.0360
Volatility | SBG Public Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement input	0.9000
Volatility | February 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement input	0.9000		0.8500
Volatility | SVB Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value measurement input		0.8500

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation of Preferred Stock Warrant Liability Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) (Details) - February 2023 Warrants $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 724
Issuance of February 2023 Warrants	26,133
Change in fair value included within common stock warrant liability adjustment	(283)
Ending Balance	$ 26,574

Net Loss Per Share Attributab_3

Net Loss Per Share Attributable to Common Stockholders - Summary of Computation of Net Loss Attributable To Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net loss and comprehensive loss	$ (8,467)	$ (11,867)	$ (11,718)	$ (28,758)	$ (20,334)	$ (40,476)
Accretion on Series A convertible preferred stock	(1,326)		0		(1,979)	0
Net loss attributable to common stockholders, basic	(9,793)		(11,718)		(22,313)	(40,476)
Net loss attributable to common stockholders, diluted	$ (9,793)		$ (11,718)		$ (22,313)	$ (40,476)
Denominator:
Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders, basic (in shares)	8,213,247		7,915,156		8,162,102	7,899,959
Weighted-average number of shares outstanding used to compute net loss per share attributable to common stockholders, diluted (in shares)	8,213,247		7,915,156		8,162,102	7,899,959
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ (1.19)		$ (1.48)		$ (2.73)	$ (5.12)
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ (1.19)		$ (1.48)		$ (2.73)	$ (5.12)

Net Loss Per Share Attributab_4

Net Loss Per Share Attributable to Common Stockholders - Antidilutive Securities Excluded from Computation of EPS (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive common stock equivalents have been excluded from the computation of diluted net loss per share	14,429,877
Shares subject to vesting (in shares)	200,536
Old Owlet
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive common stock equivalents have been excluded from the computation of diluted net loss per share		2,590,388
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive common stock equivalents have been excluded from the computation of diluted net loss per share	473,240
Stock options | Old Owlet
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive common stock equivalents have been excluded from the computation of diluted net loss per share		665,117
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive common stock equivalents have been excluded from the computation of diluted net loss per share	299,646	482,987
PRSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive common stock equivalents have been excluded from the computation of diluted net loss per share	79,803	131,578
ESPP shares committed
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive common stock equivalents have been excluded from the computation of diluted net loss per share	28,721	17,849
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive common stock equivalents have been excluded from the computation of diluted net loss per share	9,175,289	1,292,857
Convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive common stock equivalents have been excluded from the computation of diluted net loss per share	4,373,178	0

Segments - Additional Informati

Segments - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Number of operating segments	1

Segments - Revenue by Geographi

Segments - Revenue by Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 13,088	$ 18,348	$ 23,824	$ 39,887
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	11,834	15,876	21,377	34,589
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 1,254	$ 2,472	$ 2,447	$ 5,298

Segments - Schedule of Long-Liv

Segments - Schedule of Long-Lived Assets by Geographical Area (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets, net	$ 2,248	$ 3,368
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets, net	1,813	2,615
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Total long-lived assets, net	$ 435	$ 753