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Jun 30, 2023
Ouster Q2 2023 Earnings Report
Ouster achieved revenue guidance and increased cost savings target.
Key Takeaways
Ouster reported over $19 million in revenue and $43 million in bookings for Q2 2023. The company is now targeting annualized cost savings of over $110 million exiting Q4 2023.
Revenue was over $19 million, up 13% quarter over quarter, and up 88% year over year.
Bookings were $43 million with new and existing customers.
Gross margins were 1%, compared to (2)% in the first quarter 2023 and 27% in the second quarter 2022.
Cash, cash equivalents and short-term investments balance of $224 million as of June 30, 2023.
Ouster
Ouster
Forward Guidance
For the third quarter of 2023, Ouster expects to achieve $20 million to $22 million in revenue.