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Side-by-side financial comparison of KKR Real Estate Finance Trust Inc. (KREF) and Owlet, Inc. (OWLT). Click either name above to swap in a different company.
Owlet, Inc. is the larger business by last-quarter revenue ($26.6M vs $25.8M, roughly 1.0× KKR Real Estate Finance Trust Inc.). Owlet, Inc. runs the higher net margin — -34.6% vs -101.7%, a 67.1% gap on every dollar of revenue. On growth, Owlet, Inc. posted the faster year-over-year revenue change (29.6% vs -26.6%). Over the past eight quarters, Owlet, Inc.'s revenue compounded faster (34.2% CAGR vs -18.8%).
KKR Real Estate Finance Trust Inc. is a specialized real estate finance firm sponsored by global investment firm KKR. It primarily originates, acquires, and manages a portfolio of senior secured commercial real estate loans, mostly backed by high-quality institutional commercial properties across the United States, delivering stable risk-adjusted returns to investors via interest income from its diversified assets.
Owlet, Inc. is a pediatric health technology firm that develops smart wearable monitoring products for infants, most notably its signature smart sock that tracks real-time heart rate, oxygen levels, and sleep metrics. It serves global consumer markets across North America, Europe, and Asia-Pacific, distributing products via direct-to-consumer e-commerce and partnered retail outlets, focused on supporting parental peace of mind and infant health safety.
KREF vs OWLT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.8M | $26.6M |
| Net Profit | $-26.2M | $-9.2M |
| Gross Margin | — | 47.6% |
| Operating Margin | -105.1% | -18.4% |
| Net Margin | -101.7% | -34.6% |
| Revenue YoY | -26.6% | 29.6% |
| Net Profit YoY | -229.6% | -1.5% |
| EPS (diluted) | $-0.49 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $25.8M | $26.6M | ||
| Q3 25 | $25.3M | $32.0M | ||
| Q2 25 | $30.2M | $26.1M | ||
| Q1 25 | $31.3M | $21.1M | ||
| Q4 24 | $35.1M | $20.5M | ||
| Q3 24 | $37.0M | $22.1M | ||
| Q2 24 | $40.4M | $20.7M | ||
| Q1 24 | $39.1M | $14.8M |
| Q4 25 | $-26.2M | $-9.2M | ||
| Q3 25 | $13.8M | $4.1M | ||
| Q2 25 | $-29.7M | $-37.6M | ||
| Q1 25 | $-4.9M | $3.0M | ||
| Q4 24 | $20.3M | $-9.1M | ||
| Q3 24 | $-7.4M | $-5.6M | ||
| Q2 24 | $25.8M | $-1.1M | ||
| Q1 24 | $-3.1M | $3.3M |
| Q4 25 | — | 47.6% | ||
| Q3 25 | — | 50.6% | ||
| Q2 25 | — | 51.3% | ||
| Q1 25 | — | 53.7% | ||
| Q4 24 | — | 53.5% | ||
| Q3 24 | — | 52.2% | ||
| Q2 24 | — | 49.5% | ||
| Q1 24 | — | 44.4% |
| Q4 25 | -105.1% | -18.4% | ||
| Q3 25 | 50.4% | 3.8% | ||
| Q2 25 | -101.3% | -7.4% | ||
| Q1 25 | -18.3% | -12.7% | ||
| Q4 24 | 55.8% | -36.2% | ||
| Q3 24 | -19.6% | -21.8% | ||
| Q2 24 | 63.3% | -10.8% | ||
| Q1 24 | -8.7% | -39.0% |
| Q4 25 | -101.7% | -34.6% | ||
| Q3 25 | 54.4% | 12.9% | ||
| Q2 25 | -98.5% | -144.4% | ||
| Q1 25 | -15.5% | 14.3% | ||
| Q4 24 | 57.7% | -44.2% | ||
| Q3 24 | -20.0% | -25.4% | ||
| Q2 24 | 63.9% | -5.5% | ||
| Q1 24 | -7.9% | 22.2% |
| Q4 25 | $-0.49 | — | ||
| Q3 25 | $0.12 | $-0.06 | ||
| Q2 25 | $-0.53 | $-2.37 | ||
| Q1 25 | $-0.15 | $0.11 | ||
| Q4 24 | $0.22 | $-0.15 | ||
| Q3 24 | $-0.19 | $-0.61 | ||
| Q2 24 | $0.29 | $-0.30 | ||
| Q1 24 | $-0.13 | $-0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $84.6M | $35.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $19.0M |
| Total Assets | $6.5B | $85.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.6M | $35.5M | ||
| Q3 25 | $204.1M | $23.8M | ||
| Q2 25 | $107.7M | $21.8M | ||
| Q1 25 | $106.4M | $16.3M | ||
| Q4 24 | $104.9M | $20.2M | ||
| Q3 24 | $108.8M | $21.6M | ||
| Q2 24 | $107.2M | $15.4M | ||
| Q1 24 | $106.5M | $18.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $2.1M | ||
| Q1 24 | — | $4.0M |
| Q4 25 | $1.2B | $19.0M | ||
| Q3 25 | $1.2B | $-54.1M | ||
| Q2 25 | $1.2B | $-59.2M | ||
| Q1 25 | $1.3B | $-25.8M | ||
| Q4 24 | $1.3B | $-29.8M | ||
| Q3 24 | $1.4B | $-21.5M | ||
| Q2 24 | $1.4B | $-33.4M | ||
| Q1 24 | $1.4B | $-32.9M |
| Q4 25 | $6.5B | $85.6M | ||
| Q3 25 | $6.5B | $74.9M | ||
| Q2 25 | $6.8B | $63.5M | ||
| Q1 25 | $6.6B | $51.4M | ||
| Q4 24 | $6.4B | $49.5M | ||
| Q3 24 | $6.8B | $56.1M | ||
| Q2 24 | $7.1B | $45.9M | ||
| Q1 24 | $7.3B | $43.8M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $72.3M | $-452.0K |
| Free Cash FlowOCF − Capex | — | $-651.0K |
| FCF MarginFCF / Revenue | — | -2.5% |
| Capex IntensityCapex / Revenue | — | 0.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-11.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $72.3M | $-452.0K | ||
| Q3 25 | $18.5M | $-2.2M | ||
| Q2 25 | $21.1M | $-2.2M | ||
| Q1 25 | $15.9M | $-5.9M | ||
| Q4 24 | $132.6M | $3.0M | ||
| Q3 24 | $49.1M | $-7.5M | ||
| Q2 24 | $30.6M | $-3.4M | ||
| Q1 24 | $34.5M | $-3.4M |
| Q4 25 | — | $-651.0K | ||
| Q3 25 | — | $-2.2M | ||
| Q2 25 | — | $-2.3M | ||
| Q1 25 | — | $-5.9M | ||
| Q4 24 | — | $3.0M | ||
| Q3 24 | — | $-7.5M | ||
| Q2 24 | — | $-3.4M | ||
| Q1 24 | — | — |
| Q4 25 | — | -2.5% | ||
| Q3 25 | — | -6.8% | ||
| Q2 25 | — | -8.8% | ||
| Q1 25 | — | -28.1% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | — | -33.9% | ||
| Q2 24 | — | -16.3% | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | 1.34× | -0.52× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -1.96× | ||
| Q4 24 | 6.54× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.19× | — | ||
| Q1 24 | — | -1.03× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KREF
Segment breakdown not available.
OWLT
| US | $22.7M | 85% |
| Non Us | $3.2M | 12% |
| Other | $651.0K | 2% |
