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Dec 31, 2023
Ouster Q4 2023 Earnings Report
Ouster reported record revenue for the fourth quarter of 2023, driven by increased shipments and improved margins following the merger with Velodyne.
Key Takeaways
Ouster announced record revenue for the fourth quarter of 2023, reaching over $24 million, a 10% sequential increase. The company shipped over 4,100 sensors, also a quarterly record. GAAP gross margins were 22%, and non-GAAP gross margins improved to 35%. The company's net loss was $39 million, and the adjusted EBITDA loss was $14 million.
Ouster achieved record quarterly revenue of over $24 million, up 10% sequentially.
Shipped over 4,100 sensors for revenue, marking a quarterly record.
GAAP gross margins reached 22%, while non-GAAP gross margins improved to 35%.
The company is focused on expanding software solutions, advancing digital lidar hardware, and progressing on its long-term financial framework.
Ouster
Ouster
Forward Guidance
For the first quarter of 2024, Ouster expects to achieve $25 million to $26 million in revenue.
Positive Outlook
- Expand software solutions and grow the installed base
- Advance the development of digital lidar hardware
- Progress on the long-term financial framework
- Release additional subscription-based software solutions later this year that improve the ease of installation and provide additional statistics and analytics to customers.
- Integrate the Chronos chip into its solid-state digital flash (“DF”) sensors later this year.