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Sep 30, 2022
Ouster Q3 2022 Earnings Report
Reported 44% year-over-year revenue growth and 33% gross margins.
Key Takeaways
Ouster reported $11.2 million in revenue for Q3 2022, a 44% increase year-over-year, with gross margins of 33%. The company sold 2,136 sensors, up 31% year-over-year, and increased Strategic Customer Agreements to 84. However, the net loss increased to $36 million and the adjusted EBITDA loss was $24 million.
Revenue was $11.2 million, up 44% year over year.
Gross margins reached 33%, the highest in Ouster's history, compared to 24% in Q3 2021.
2,136 sensors were sold, a 31% increase year over year.
Strategic Customer Agreements increased to 84, up from 80 in the prior quarter.
Ouster
Ouster
Forward Guidance
Ouster reiterated its FY 2022 revenue guidance of $40 million to $55 million and its gross margin target of 25% to 30%.
Positive Outlook
- Unlock significant synergies with Velodyne.
- Create a company with the scale and resources to deliver stronger solutions.
- Accelerate time to profitability.
- Enhance value for shareholders.
- Reduce product costs.
Challenges Ahead
- FY 2022 guidance does not reflect any contribution from the planned merger of equals
- Merger is subject to regulatory approvals.
- Merger is subject to approval by the stockholders of both companies.
- Merger is subject to other customary closing conditions.
- Merger is expected to close in the first half of 2023.