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Mar 31, 2024
Ouster Q1 2024 Earnings Report
Ouster's Q1 2024 earnings were announced, featuring record revenue and non-GAAP gross margin.
Key Takeaways
Ouster reported a record revenue of $26 million, up 51% year-over-year, and a record non-GAAP gross margin of 36% for Q1 2024. The company's net loss was $24 million, an improvement compared to the previous year. Revenue growth was driven by large orders from customers in the robotics and automotive verticals.
Revenue reached $26 million, a 51% increase year-over-year and 6% sequentially.
Approximately 4,500 sensors were shipped for revenue.
GAAP gross margin was 29%, a significant increase from (2%) in Q1 2023.
Non-GAAP gross margin reached a record 36%, compared to 25% in Q1 2023.
Ouster
Ouster
Forward Guidance
For the second quarter of 2024, Ouster expects to achieve $26 million to $28 million in revenue.