Mike Cavanaugh: The next question, as an investor, I appreciate the strong support from Eclipse as well as the active participation of the Board and the recent offering. That clearly demonstrates confidence in Owlet going forward with the public float at only about 20% of total shares. Do you have any thoughts on the best way to build shareholder value? And then in the current macro environment, how does Owlet push forward and stick out from the others?
Kate Scolnick: Yes, I can take that question. As a microcap company, I think along with others, we’ve been impacted by these conditions of the capital markets, especially since they’ve continued to be drawn out over what seems like a long period of time. We’ve had the financial support of our largest investors and our banking and trade partners. So we’ve been able to continue to also execute against our mission and vision. I think this support has been really helpful in our ability to deliver against our business and operational plans in 2023 that we’ve just spent time discussing today and these accomplishments set us up for even more success in 2024. So we believe that the execution of last year and also the executional plans that we talked about for is what puts us in the best position to continue to build shareholder value right now.
Mike Cavanaugh: Next question, does Owlet plan to launch in India or other Asian countries? And if so, what is the potential time line for that?
Kurt Workman: Yes, I mentioned that we’re very close on the CMS clearance. I’m really proud of the team’s work there. That’s been near-term focus. But there are 140 million babies born across the world every single year and parenting really has universal needs. There’s — it doesn’t matter where your baby is born, parents care about their child safety and their health and them being able to get a good night sleep. And so our technology has a really big opportunities to have an impact across the globe. We’re really excited about this. In 2024, our specific focus is on expansion of Owlet’s medical device in Europe. There’s a lot of room for growth there. And then we’ll open up other geographies in coming years.
Mike Cavanaugh: Great. Thanks, Kurt. Next question, given the demographic of Owlet’s target market, how important is social media and influencer marketing. And can we expect celebrity type marketing of the Owlet in the future?
Kurt Workman: So we work really hard to meet, parent really where they’re at with messages that resonate with them in channels that they spend their time. And one shining example for us recently is the TikTok strategy that we’ve put in place, put a large emphasis on getting Owlet stories out into the communities. And those stories include really funding creative content about parenting very serious and emotional content around the parent or the child story, their health journey or Owlet detecting that the baby had low oxygen and parents being able to intervene in time that those stories have a big impact. We’ve even had a lot of user-generated stories and partner story, somebody wrote a song about Owlet and about their child and they included Owlet.
And so we do a lot of work on social hit over 100 million video views and engagement last year. And we want to be a very authentic connection with parents. And it’s obvious that parents telling real stories and real-life examples and the word of mouth behind our product is always meaningful to Owlet. It’s been a big part of growing our brand and our awareness and being able to do that also while cutting marketing expenses. So a lot of opportunities with that. And there are a lot of celebrities who use Owlet organically and share about AI because they absolutely love the product. And so we feel like that’s the approach that resonates the best with parents.
Mike Cavanaugh: All right. Great. And we have one final question that we received. I noticed there was a PR firm that is public relations firm hired towards the end of the year. Can you speak to that and the strategy behind it?
Kurt Workman: Yes. I would just simply say that I’ll let really, again, we’re in a first and only position. We are the first and only approved FDA monitor for over-the-counter distribution and we’re taking advantage of that in the market today by driving awareness and cleaning up any confusion in the market that’s existed. We’ve had hundreds of articles written at Owlet in just the last few months. Millions of parents engaging with that message, thanks to our social PR team that’s doing a fantastic job. And that’s a big reason why we’re seeing this organic lift in sell-through. People now know that Owlet is in that position and we’re the best available option. So this is a massive year for us.
Mike Cavanaugh: All right. I think that’s it for our supplemental questions. Operator?
Operator: Thank you. I will now pass the conference over to Kurt Workman for closing remarks.
