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     337  0 Kommentare Ouster Announces Record Revenue for Fourth Quarter and Full Year 2023

    Ouster, Inc. (NYSE: OUST) (“Ouster” or the “Company”), a leading provider of high-performance lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries, announced today financial results for the three and twelve months ended December 31, 20231.

    Fourth Quarter 2023 Highlights

    • Over $24 million in revenue, up 10% sequentially and a quarterly record.
    • Shipped over 4,100 sensors for revenue, up over 20% sequentially and a quarterly record.
    • GAAP gross margins of 22%, compared to 14% in the third quarter of 2023.
    • Non-GAAP gross margins2 of 35%, compared to 33% in the third quarter of 2023.
    • Net loss of $39 million, compared to $35 million in the third quarter of 2023.
    • Adjusted EBITDA2 loss of $14 million, compared to a loss of $18 million in the third quarter of 2023.

    Full Year 2023 Highlights

    • Over $83 million in revenue, up 103% year over year and an annual record.
    • Booked $142 million in business with new and existing customers, representing a book-to-bill ratio of 1.7x.3
    • Closed merger with Velodyne and established a combined company with a robust range of products, stronger financial position, diversified business, extensive intellectual property portfolio, and a significantly reduced cost structure.
    • Ended 2023 with cash, cash equivalents, restricted cash, and short-term investments balance of $192 million.
    • Exceeded initial post-merger annualized cost savings target by over 40%4.
    • Scaled production and shipments of REV7, Ouster’s most performant sensor to date.
    • Awarded production wins by May Mobility and Motional to supply lidar for their autonomous vehicles.
    • Transitioned manufacturing of Velodyne products to Thailand.
    • Launched Ouster Gemini, a digital lidar perception platform for crowd analytics, security, and intelligent transportation systems.
    • Unified Blue City and Ouster Gemini, adding new performance-improving deep learning AI perception models.

    "Ouster had a transformative year, reporting record revenue of $83 million and bookings of $142 million in 2023. We successfully completed the merger with Velodyne, which solidified our balance sheet, expanded our patent portfolio, and streamlined our cost structure. We achieved important milestones across our operations, notably scaling production and shipments of REV7. Additionally, we added new revenue streams with the launch of Ouster Gemini and Blue City and demoed our first DF sensors with customers, marking a significant stride forward in our product development journey. This was accomplished while delivering record financial performance, significantly reducing our cash burn, and exceeding our initial post-merger annualized cost savings target by over 40%”, said Ouster CEO Angus Pacala. "I’m excited to continue this momentum in 2024 as we execute our plan towards profitability."

    Ouster delivered record quarterly revenue of over $24 million with shipments exceeding 4,100 sensors. GAAP and non-GAAP gross margins were sequentially higher, in line with expectations. Margin expansion was driven by higher revenues and lower manufacturing costs attributable to operational improvements. GAAP gross margins of 22% in the fourth quarter of 2023 include the impact of certain expenses outside of ordinary operations associated with the consolidation of product lines and outsourced manufacturing of Velodyne products. Non-GAAP gross margins improved to 35% in the fourth quarter of 2023. GAAP operating expenses were higher sequentially, driven by a litigation settlement and higher stock-based compensation expenses.

    2024 Business Objectives

    1. Expand software solutions and grow the installed base
    2. Advance the development of digital lidar hardware
    3. Progress on the long-term financial framework

    Expand software solutions and grow the installed base: Ouster’s smart infrastructure solutions, powered by Ouster Gemini and Blue City, are enabling customers to improve operating efficiency and safety. The Company plans to release additional subscription-based software solutions later this year that improve the ease of installation and provide additional statistics and analytics to customers. These tools are expected to support expanded adoption by existing customers as well as new opportunities at global logistics companies, security integrators, and transportation authorities. With a multibillion-dollar lidar opportunity in smart infrastructure, the Company expects software coupled sales to be a key contributor to future growth.

    Advance the development of digital lidar hardware: Ouster continues to progress on its digital lidar roadmap, developing technologies that will enhance operating performance and provide further differentiation versus peers. Ouster’s next generation L4 custom silicon chip is taped out and is expected to bring significant improvements in range, field of view, and manufacturability, along with safety certifications to the OS sensor family. The Company plans to integrate the Chronos chip into its solid-state digital flash (“DF”) sensors later this year.

    Progress on the long-term financial framework: Last quarter, Ouster set a financial framework focused on achieving 30-50% annual revenue growth, expanding gross margins to 35-40%, and maintaining operating expenses at or below third quarter 2023 levels. The Company expects 2024 results to make meaningful progress against this framework, putting Ouster on a path towards profitability.

    First Quarter 2024 Outlook

    For the first quarter of 2024, Ouster expects to achieve $25 million to $26 million in revenue.

    Conference Call Information

    Ouster will host a conference call and live webcast for analysts and investors at 5:00 p.m. ET today, March 26, 2024 to discuss its financial results and business outlook. To access the call, please register at https://registrations.events/direct/Q4I934283.

    Upon registering, each participant will be provided with call details and a registrant ID. The webcast and related presentation materials will be accessible for at least 30 days on Ouster’s investor relations website at https://investors.ouster.com. A telephone replay of the call will be available 2 hours after the call ends, and can be accessed via phone through April 4, 2024 by dialing (800) 770-2030 from the U.S. or +1 (609) 800-9909 from outside the U.S. The conference I.D. number is 93428.

    About Ouster

    Ouster (NYSE: OUST) is a leading global provider of high-resolution scanning and solid-state digital lidar sensors, Velodyne Lidar sensors, and software solutions for the automotive, industrial, robotics, and smart infrastructure industries. Ouster is on a mission to build a safer and more sustainable future by offering affordable, high-performance sensors that drive mass adoption across a wide variety of applications. Ouster is headquartered in San Francisco, CA with offices in the Americas, Europe, and Asia Pacific. For more information, visit www.ouster.com, or connect with us on Twitter or LinkedIn.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based upon current plans, estimates and expectations of management that are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Words such as “anticipate,” “expect,” “project,” “intend,” “believe,” “may,” “will,” “should,” “plan,” “could,” “may,” “continue,” “target,” “contemplate,” “estimate,” “forecast,” “guidance,” “predict,” “possible,” “potential,” “pursue,” “likely,” and the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. All statements, other than statements of historical fact, including statements regarding Ouster’s revenue guidance for the first quarter of 2024; anticipated new product launches and developments; Ouster’s future results of operations, cash reserve and financial position; anticipated cost savings; execution against the Company’s product roadmap and demand for products; the Company’s path to profitability and long-term financial framework; industry and business trends; Ouster’s business objectives, plans, strategic partnerships, and market growth; the benefits of the Company’s merger with Velodyne; and Ouster’s competitive market position, all constitute forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including, but not limited to, risks related to Ouster’s limited operating history and history of losses; fluctuations in its operating results; the substantial research and development costs needed to develop and commercialize new products; its ability to maintain competitive average selling prices, high sales volumes and reduce product costs; competition in Ouster's industry; the negotiating power and product standards of its customers; the adoption of its products and the growth of the lidar market generally; product quality and liability risks; Ouster’s future capital needs and ability to secure additional capital on favorable terms or at all; risks related to Ouster's indebtedness; its ability to manage growth, including growing the sales and marketing organization; risks related to international operations, including international manufacturing; cancellation or postponement of contracts or unsuccessful implementations; the Company's ability to manage its inventory; credit risk of customers; Ouster's ability to use tax attributes; Ouster’s dependence on key third party suppliers, in particular Benchmark Electronics, Inc., Fabrinet, and other suppliers; supply chain constraints and challenges; conditions in the industries the Company targets or the global economy; the ability of its lidar technology roadmap and new software solutions to catalyze growth; Ouster’s ability to recruit and retain key personnel; its ability to successfully integrate its business with Velodyne and achieve the anticipated benefits of the Velodyne merger; Ouster’s ability to adequately protect and enforce its intellectual property rights, including as it relates to Hesai Group; legal and regulatory risks; risks related to operating as a public company; and other important factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, as will be updated in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, that are further updated from time to time in the Company’s other filings with the SEC. Readers are urged to consider these factors carefully and in the totality of the circumstances when evaluating these forward-looking statements, and not to place undue reliance on any of them. Any such forward-looking statements represent management’s reasonable estimates and beliefs as of the date of this press release. While Ouster may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, other than as may be required by law, even if subsequent events cause its views to change.

    In addition, see information below concerning non-GAAP financial measures.

    Non-GAAP Financial Measures

    In addition to its results determined in accordance with generally accepted accounting principles in the United States (“GAAP”), Ouster believes the non‑GAAP measures of Non-GAAP Gross Profit, Non-GAAP Gross Margin and Adjusted EBITDA are useful in evaluating its operating performance. Ouster calculates Non-GAAP Gross Profit as gross profit (loss) excluding amortization of acquired intangibles, certain excess and obsolete expenses and losses on firm purchase commitments, and stock-based compensation expenses. Non-GAAP Gross Margin is calculated as Non-GAAP Gross Profit divided by revenues. Ouster calculates Adjusted EBITDA as net loss excluding interest expense (income), net, other expense (income), net, stock-based compensation expense, provision for income tax expense, goodwill impairment charges, restructuring costs excluding stock-based compensation expenses, certain excess and obsolete expenses and losses on firm purchase commitments, amortization of acquired intangible assets, depreciation expenses, certain litigation and litigation related expenses, merger and acquisition related expenses, gain on lease termination and other items. Ouster believes that Non-GAAP Gross Profit, Non-GAAP Gross Margin, and Adjusted EBITDA may be helpful to investors because it provides consistency and comparability with past financial performance and may be helpful in comparison with other companies, some of which use similar non‑GAAP information to supplement their GAAP results. Adjusted EBITDA is also used by the Board and management as a performance metric for compensation purposes. The non-GAAP financial information is presented for supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non‑GAAP measures used by other companies. Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP financial measures are included at the end of this press release.

    ____________________________________

    1 The comparative financial results for the three and twelve months ended December 31, 2022 reflect only the results of standalone Ouster. The financial results for the twelve months ended December 31, 2023 are composed of Ouster standalone performance through February 10, 2023 and combined performance of Ouster and Velodyne for the remainder of the period. The results for the three months ended December 31, 2023 and September 30, 2023 reflect the combined performance of Ouster and Velodyne.

    2 Adjusted EBITDA loss and non-GAAP gross margin are non-GAAP financial measures. See Non-GAAP Financial Measures for additional information and reconciliations of these measures to their respective most directly comparable financial measures calculated in accordance with U.S. GAAP.

    3 Bookings represent binding contract orders entered during the period.

    4 Annualized cost savings baselined against initial post-merger target of $75 million.

    OUSTER, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (unaudited)
    (in thousands, except share and per share data)
    December 31,

    2023

    2022

    Assets
    Current assets:
    Cash and cash equivalents

    $

    50,991

     

    $

    122,932

     

    Restricted cash, current

     

    552

     

     

    257

     

    Short-term investments

     

    139,158

     

     

     

    Accounts receivable, net

     

    14,577

     

     

    11,233

     

    Inventory

     

    23,232

     

     

    19,533

     

    Prepaid expenses and other current assets

     

    34,647

     

     

    8,543

     

    Total current assets

     

    263,157

     

     

    162,498

     

    Property and equipment, net

     

    10,228

     

     

    9,695

     

    Operating lease, right-of-use assets

     

    18,561

     

     

    12,997

     

    Unbilled receivable, long-term portion

     

    10,567

     

     

     

    Goodwill

     

     

     

    51,152

     

    Intangible assets, net

     

    24,436

     

     

    18,165

     

    Restricted cash, non-current

     

    1,091

     

     

    1,089

     

    Other non-current assets

     

    2,703

     

     

    541

     

    Total assets

    $

    330,743

     

    $

    256,137

     

    Liabilities and stockholders’ equity
    Current liabilities:
    Accounts payable

    $

    3,545

     

    $

    8,798

     

    Accrued and other current liabilities

     

    58,166

     

     

    17,071

     

    Contract liabilities

     

    12,885

     

     

    402

     

    Operating lease liability, current portion

     

    7,096

     

     

    3,221

     

    Total current liabilities

     

    81,692

     

     

    29,492

     

    Operating lease liability, long-term portion

     

    18,827

     

     

    13,400

     

    Debt

     

    43,975

     

     

    39,574

     

    Contract liability, long-term portion

     

    4,967

     

     

    342

     

    Other non-current liabilities

     

    1,610

     

     

    1,710

     

    Total liabilities

     

    151,071

     

     

    84,518

     

    Stockholders’ equity:
    Common stock

     

    42

     

     

    19

     

    Additional paid-in capital

     

    995,464

     

     

    613,665

     

    Accumulated deficit

     

    (816,026

    )

     

    (441,916

    )

    Accumulated other comprehensive income (loss)

     

    192

     

     

    (149

    )

    Total stockholders’ equity

     

    179,672

     

     

    171,619

     

    Total liabilities and stockholders’ equity

    $

    330,743

     

    $

    256,137

     

    OUSTER, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
    (unaudited)
    (in thousands, except share and per share data)
     
    Three Months Ended
    December 31,
    Three Months Ended
    September 30,
    Three Months Ended
    December 31,
    Year Ended December 31,

    2023

    2023

    2022

    2023

    2022

    Revenue

    $

    24,444

     

    $

    22,209

     

    $

    10,938

     

    $

    83,279

     

    $

    41,029

     

    Cost of revenue

     

    19,033

     

     

    19,116

     

     

    9,097

     

     

    74,965

     

     

    30,099

     

    Gross profit

     

    5,411

     

     

    3,093

     

     

    1,841

     

     

    8,314

     

     

    10,930

     

    Operating expenses:
    Research and development

     

    15,626

     

     

    16,678

     

     

    15,306

     

     

    91,210

     

     

    64,317

     

    Sales and marketing

     

    8,553

     

     

    7,887

     

     

    7,639

     

     

    41,639

     

     

    30,833

     

    General and administrative

     

    18,545

     

     

    14,270

     

     

    20,897

     

     

    81,982

     

     

    61,203

     

    Goodwill impairment charges

     

     

     

     

     

     

     

    166,675

     

     

     

    Total operating expenses

     

    42,724

     

     

    38,835

     

     

    43,842

     

     

    381,506

     

     

    156,353

     

    Loss from operations

     

    (37,313

    )

     

    (35,742

    )

     

    (42,001

    )

     

    (373,192

    )

     

    (145,423

    )

    Other (expense) income:
    Interest income

     

    2,579

     

     

    2,495

     

     

    977

     

     

    9,038

     

     

    2,208

     

    Interest expense

     

    (4,081

    )

     

    (1,825

    )

     

    (1,551

    )

     

    (9,303

    )

     

    (2,694

    )

    Other income (expense), net

     

    (6

    )

     

    (13

    )

     

    583

     

     

    (130

    )

     

    7,654

     

    Total other (expense) income, net

     

    (1,508

    )

     

    657

     

     

    9

     

     

    (395

    )

     

    7,168

     

    Loss before income taxes

     

    (38,821

    )

     

    (35,085

    )

     

    (41,992

    )

     

    (373,587

    )

     

    (138,255

    )

    Provision for income tax expense

     

    174

     

     

    17

     

     

    184

     

     

    523

     

     

    305

     

    Net loss

    $

    (38,995

    )

    $

    (35,102

    )

    $

    (42,176

    )

    $

    (374,110

    )

    $

    (138,560

    )

    Other comprehensive loss
    Changes in unrealized gain (loss) on available for sale securities

     

    314

     

     

    63

     

     

     

     

    354

     

     

     

    Foreign currency translation adjustments

     

    258

     

     

    (213

    )

     

    32

     

     

    (13

    )

     

    (143

    )

    Total comprehensive loss

    $

    (38,423

    )

    $

    (35,252

    )

    $

    (42,144

    )

    $

    (373,769

    )

    $

    (138,703

    )

    Net loss per common share, basic and diluted

    $

    (0.95

    )

    $

    (0.89

    )

    $

    (2.54

    )

    $

    (10.10

    )

    $

    (7.79

    )

    Weighted-average shares used to compute basic and diluted net loss per share

     

    41,135,659

     

     

    39,228,118

     

     

    16,585,392

     

     

    37,042,081

     

     

    17,792,316

     

    OUSTER, INC.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (unaudited)
    (in thousands)
     
    For the Years ended December 31,

    2023

    2022

    CASH FLOWS FROM OPERATING ACTIVITIES
    Net loss

    $

    (374,110

    )

    $

    (138,560

    )

    Adjustments to reconcile net loss to net cash used in operating activities:
    Goodwill impairment charges

     

    166,675

     

     

     

    Depreciation and amortization

     

    17,148

     

     

    9,456

     

    Loss on write-off of construction in progress and right-of-use asset impairment

     

    1,732

     

     

     

    Gain on lease termination

     

    (807

    )

     

     

    Stock-based compensation

     

    57,725

     

     

    33,321

     

    Reduction of revenue related to stock warrant issued to customer

     

    528

     

     

     

    Amortization of right-of-use asset

     

    4,519

     

     

    2,730

     

    Interest expense and loss on debt extinguishment

     

    4,001

     

     

    799

     

    Amortization of debt issuance costs and debt discount

     

    190

     

     

    160

     

    Non-cash interest income

     

    (732

    )

     

     

    Accretion or amortization on short-term investments

     

    (4,685

    )

     

     

    Change in fair value of warrant liabilities

     

    49

     

     

    (7,446

    )

    Inventory write down

     

    10,047

     

     

    1,600

     

    Provision for doubtful accounts

     

    1,346

     

     

    346

     

    (Gain)/loss from disposal of property and equipment

     

    (59

    )

     

    430

     

    Changes in operating assets and liabilities:
    Accounts receivable

     

    3,574

     

     

    (856

    )

    Inventory

     

    (4,047

    )

     

    (13,684

    )

    Prepaid expenses and other assets

     

    (21,575

    )

     

    (3,148

    )

    Accounts payable

     

    (8,520

    )

     

    4,191

     

    Accrued and other liabilities

     

    8,081

     

     

    3,196

     

    Contract liabilities

     

    6,597

     

     

     

    Operating lease liability

     

    (5,567

    )

     

    (3,225

    )

    Net cash used in operating activities

     

    (137,890

    )

     

    (110,690

    )

    CASH FLOWS FROM INVESTING ACTIVITIES
    Proceeds from sale of property & equipment

     

    560

     

     

    275

     

    Purchases of property and equipment

     

    (3,006

    )

     

    (5,422

    )

    Purchase of short-term investments

     

    (137,104

    )

     

     

    Proceeds from sales of short-term investments

     

    158,014

     

     

     

    Cash and cash equivalents acquired in the Velodyne Merger

     

    32,137

     

     

     

    Net cash used in investing activities

     

    50,601

     

     

    (5,147

    )

    CASH FLOWS FROM FINANCING ACTIVITIES
    Repurchase of common stock

     

     

     

    (45

    )

    Proceeds from exercise of stock options

     

    271

     

     

    470

     

    Proceeds from ESPP purchase

     

    1,174

     

     

    378

     

    Proceeds from borrowings, net of debt discount and issuance costs

     

    43,975

     

     

    39,077

     

    Repayments of borrowings

     

    (43,975

    )

     

     

    Proceeds from the issuance of common stock under at-the-market offering, net of commissions and fees

     

    14,575

     

     

    16,322

     

    At-the-market offering costs for the issuance of common stock

     

    (363

    )

     

    (541

    )

    Taxes paid related to net share settlement of restricted stock units

     

     

     

    (59

    )

    Net cash provided by financing activities

     

    15,657

     

     

    55,602

     

    Effect of exchange rates on cash and cash equivalents

     

    (12

    )

     

    (143

    )

    Net increase decrease in cash, cash equivalents and restricted cash

     

    (71,644

    )

     

    (60,378

    )

    Cash, cash equivalents and restricted cash at beginning of year

     

    124,278

     

     

    184,656

     

    Cash, cash equivalents and restricted cash at end of year

    $

    52,634

     

    $

    124,278

     

    OUSTER, INC.
    RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
    (unaudited)
    (in thousands)
     
    Three Months Ended December 31, Three Months Ended September 30, Year Ended December 31,

    2023

    2022

    2023

    2022

    2023

    2022

    GAAP net loss

    $

    (38,995

    )

    $

    (42,176

    )

    $

    (35,102

    )

    $

    (35,987

    )

    $

    (374,110

    )

    $

    (138,560

    )

    Interest income, net

     

    1,502

     

     

    574

     

     

    (670

    )

     

    (34

    )

     

    265

     

     

    486

     

    Other expense (income), net

     

    6

     

     

    (583

    )

     

    13

     

     

    (61

    )

     

    130

     

     

    (7,654

    )

    Stock-based compensation(1)

     

    11,107

     

     

    7,997

     

     

    8,372

     

     

    8,455

     

     

    57,725

     

     

    33,321

     

    Provision for income tax expense

     

    174

     

     

    184

     

     

    17

     

     

    37

     

     

    523

     

     

    305

     

    Goodwill impairment charge

     

     

     

     

     

     

     

     

     

    166,675

     

     

     

    Restructuring costs, excluding stock-based compensation expense

     

     

     

     

     

     

     

     

     

    15,976

     

     

     

    Excess and obsolete expenses and loss on firm purchase commitments

     

    1,732

     

     

     

     

    3,187

     

     

     

     

    12,299

     

     

     

    Amortization of acquired intangibles(2)

     

    1,757

     

     

     

     

    1,759

     

     

    1,122

     

     

    6,729

     

     

    4,487

     

    Depreciation expenses(2)

     

    1,239

     

     

    2,386

     

     

    1,739

     

     

    1,210

     

     

    10,371

     

     

    4,969

     

    Litigation expenses(3)

     

    7,383

     

     

    1,484

     

     

    3,536

     

     

    1,123

     

     

    14,820

     

     

    3,200

     

    Merger and acquisition related expenses(4)

     

     

     

    6,950

     

     

     

     

     

     

    6,058

     

     

    6,950

     

    Gain on lease termination and other items

     

     

     

     

     

    (1,256

    )

     

     

     

    (1,256

    )

     

     

    Adjusted EBITDA

    $

    (14,095

    )

    $

    (23,184

    )

    $

    (18,405

    )

    $

    (24,135

    )

    $

    (83,795

    )

    $

    (92,496

    )

     
    (1)Includes stock-based compensation expense as follows:
    Three Months Ended December 31, Three Months Ended September 30, Year Ended December 31,

    2023

    2022

    2023

    2022

    2023

    2022

    Cost of revenue

    $

    856

     

    $

    213

     

    $

    570

     

    $

    207

     

    $

    2,854

     

    $

    783

     

    Research and development

     

    4,786

     

     

    3,363

     

     

    4,056

     

     

    3,681

     

     

    24,551

     

     

    14,611

     

    Sales and marketing

     

    2,240

     

     

    1,789

     

     

    1,345

     

     

    1,913

     

     

    9,966

     

     

    7,065

     

    General and administrative

     

    3,225

     

     

    2,632

     

     

    2,401

     

     

    2,654

     

     

    20,354

     

     

    10,862

     

    Total stock-based compensation

    $

    11,107

     

    $

    7,997

     

    $

    8,372

     

    $

    8,455

     

    $

    57,725

     

    $

    33,321

     

     
     
    (2)Includes depreciation and amortization expense as follows:
     
    Three Months Ended December 31, Three Months Ended September 30, Year Ended December 31,

    2023

    2022

    2023

    2022

    2023

    2022

    Cost of revenue

    $

    1,180

     

    $

    322

     

    $

    1,155

     

    $

    227

     

    $

    5,858

     

    $

    1,142

     

    Research and development

     

    747

     

     

    867

     

     

    741

     

     

    889

     

    $

    5,343

     

     

    3,466

     

    Sales and marketing

     

    250

     

     

    78

     

     

    250

     

     

    75

     

    $

    940

     

     

    303

     

    General and administrative

     

    819

     

     

    1,119

     

     

    1,352

     

     

    1,140

     

    $

    4,958

     

     

    4,545

     

    Total depreciation and amortization expense

    $

    2,996

     

    $

    2,386

     

    $

    3,498

     

    $

    2,331

     

    $

    17,099

     

    $

    9,456

     

     
    (3)Litigation expenses and litigation-related expenses outside of the Company’s ordinary business operations
    (4)Non-recurring acquisition expense represents transaction costs for the Velodyne Lidar, Inc. and Sense Photonics, Inc. mergers which include legal and accounting professional service fees.
     
     
    Three Months Ended December 31, Three Months Ended September 30, Year Ended December 31,

    2023

    2022

    2023

    2022

    2023

    2022

    Gross profit (loss) on GAAP basis

    $

    5,411

     

    $

    1,841

     

    $

    3,093

     

    $

    3,716

     

    $

    8,314

     

    $

    10,930

     

    Stock-based compensation

     

    856

     

     

    213

     

     

    570

     

     

    207

     

     

    2,854

     

     

    783

     

    Amortization of acquired intangible assets

     

    517

     

     

     

     

    467

     

     

     

     

    1,644

     

     

     

    Excess and obsolete expenses and loss on firm purchase commitments

     

    1,732

     

     

     

     

    3,187

     

     

     

     

    12,299

     

     

     

    Gross profit on non-GAAP basis

    $

    8,516

     

    $

    2,054

     

    $

    7,316

     

    $

    3,923

     

    $

    25,111

     

    $

    11,713

     

     
    Gross margin on GAAP basis

     

    22

    %

     

    17

    %

     

    14

    %

     

    33

    %

     

    10

    %

     

    27

    %

    Gross margin on non-GAAP basis

     

    35

    %

     

    19

    %

     

    33

    %

     

    35

    %

     

    30

    %

     

    29

    %

     


    The Ouster Stock at the time of publication of the news with a fall of -0,20 % to 4,98USD on NYSE stock exchange (26. März 2024, 21:00 Uhr).

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    Ouster Announces Record Revenue for Fourth Quarter and Full Year 2023 Ouster, Inc. (NYSE: OUST) (“Ouster” or the “Company”), a leading provider of high-performance lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries, announced today financial results for the three and twelve …