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Sep 30, 2023
Ouster Q3 2023 Earnings Report
Ouster exceeded revenue guidance, achieved significant cost savings, and set a financial framework to reach profitability.
Key Takeaways
Ouster reported revenue of over $22 million and bookings of $38 million in Q3 2023. The company achieved over $120 million in annualized cost savings and announced targets for revenue growth, expanding gross margins, and additional cost management.
Revenue exceeded $22 million, up 15% quarter over quarter.
Bookings reached $38 million, resulting in a book-to-bill ratio of 1.7x.
GAAP gross margins were 14%, compared to 1% in the second quarter of 2023.
Non-GAAP gross margins were 33%, compared to 26% in the second quarter of 2023.
Ouster
Ouster
Forward Guidance
For the fourth quarter of 2023, Ouster expects to achieve $23 million to $25 million in revenue.