The company utilizes contract manufacturers and maintains a supplier selection process that includes site audits and quality specifications. Its Dream Sock product is manufactured according to ISO 13485 and MDSAP certified standards. To mitigate risks, the company employs multiple manufacturing sites globally and does not intend to produce products internally. Since October 2017, it has held a manufacturing services agreement with Benchmark Electronics, Inc. for the production of Dream Sock, BabySat, and Dream Duo products at facilities in Thailand, with plans to expand manufacturing to a new site in Mexico in 2026. Benchmark holds exclusive manufacturing rights for Dream Sock and Dream Duo through May 31, 2027. Additionally, the company has maintained a manufacturing and supply agreement with Shenzhen Aoni Electronic Co., Ltd since June 2018 for the Dream Sight product, with manufacturing conducted in China and Vietnam. This agreement has been extended through June 2026 and may be terminated with six months' notice without cause.
Owlet Inc's Comment on Supply Chain
The company utilizes contract manufacturers and maintains a supplier selection process that includes site audits and quality specifications. Its Dream Sock product is manufactured according to ISO 13485 and MDSAP certified standards. To mitigate risks, the company employs multiple manufacturing sites globally and does not intend to produce products internally. Since October 2017, it has held a manufacturing services agreement with Benchmark Electronics, Inc. for the production of Dream Sock, BabySat, and Dream Duo products at facilities in Thailand, with plans to expand manufacturing to a new site in Mexico in 2026. Benchmark holds exclusive manufacturing rights for Dream Sock and Dream Duo through May 31, 2027. Additionally, the company has maintained a manufacturing and supply agreement with Shenzhen Aoni Electronic Co., Ltd since June 2018 for the Dream Sight product, with manufacturing conducted in China and Vietnam. This agreement has been extended through June 2026 and may be terminated with six months' notice without cause.
Sources:
Owlet Inc 's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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