Kurt Workman: I think we’ve shared this before, but we really believe that just like every baby has access to a breast pump, reimbursed by insurance, or goes home from the hospital to car seat, we believe every baby will have access to a health monitor at home. And Owlet created this category, we’ve now established it with the recent FDA clearance. Our vision is to drive that tipping point both in the U.S. and globally, and we’ll see that as a significant opportunity over the coming years. We also know that every year in the U.S., we spend tens of billions of dollars on primary care for children in this age group, just in the first few years of life. And I think that’s a tremendous opportunity to move the center of triage from the clinic into the home, and Owlet’s well positioned with our data to become the platform.
And with our data set, we believe we can create the services and the platform that speaks both to parents in the home and the health care provider. So there’s so much we can do right now with our current regulatory approvals, our distribution that’s expanding, our data and our community, and that’s our focus right now to drive growth.
Mike Cavanaugh: Okay. Great. And then the next question, I think this is probably for Kurt, but do you think that — do you envision that Dream Sock, the over-the-counter monitor, would eventually have a telehealth component? Or would that kind of feature be limited to BabySat?
Kurt Workman: So I think both products will have interesting telehealth opportunities. They’ll be a little bit distinct. With BabySat, it would be focused on monitoring babies who have known health conditions. With Dream Sock, the opportunity is to focus on home triage for healthy babies. There’s 92 million primary care visits in the first few years of life, and partnerships with telehealth could help parents and physicians better understand baby’s health at home, without having to expose them to more sickness in the clinic.
Mike Cavanaugh: Okay. Great. And one last question. How has the product road map changed over the past few years compared to what was shared previously with the [ Band and Crib ] for example?
Kurt Workman: Yes. So kind of like I just mentioned, we believe that there’s a significant opportunity to become the health platform in pediatrics, similar to other well-known patient monitoring companies in their markets. Our focus right now is to dramatically increase adoption of home monitoring, both for well baby and at-risk babies with Dream Sock and BabySat and both in the U.S. and in Europe, we believe we can significantly grow market share overtime and position Owlet for LTV expansion with our data and services. And so we want to see healthy growth with improving gross margins that allows us to grow from our strength. And for us, that means increasing adoption of our sock and our CAM launching value-add features with our data that consumers and providers are willing to pay for, and then lengthening our customer relationship for extended LTV.
Mike Cavanaugh: Great. Thanks, Kurt. And that’s all the questions we received. So operator, back to you.
Operator: That is all the time we have for questions. Handing the call over to Kurt for closing remarks.
Kurt Workman: Yes. Just as we wrap things up, I want to express my gratitude and thanks to each and every one of you who joined us today. Your presence on this journey means a lot. Owlet’s obviously overcome a lot as a business. And the recent news of FDA clearance is an exciting milestone, probably the most exciting milestone along this journey. And when it comes to the world of pediatric care, the future looks incredibly promising. Owlet is driving that progress, and we’re making meaningful strides that bring us closer to our vision of better care for our little one. So thanks once again for your time and your belief in Owlet.
Operator: That concludes today’s conference call. Thank you. You may now disconnect your lines.
