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Ouster Announces Departure of Chief Financial Officer and Reaffirms Q4 Revenue Guidance
Company expects Q4 2024 revenue to be within the guidance range of $29 million to $31 million SAN FRANCISCO--(BUSINESS WIRE)-- Ouster, Inc. (Nasdaq: OUST)
About this update from Ouster, Inc.
[{"type":"text","content":"\nCompany expects Q4 2024 revenue to be within the guidance range of $29 million to $31 million\n\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nOuster, Inc. (Nasdaq: OUST) (“Ouster” or the “Company”), a leading global provider of high-performance lidar sensors and software solutions for the automotive, industrial, robotics, and smart infrastructure industries, announced today the departure of its Chief Financial Officer, Mark Weinswig, effective January 31, 2025, to pursue a new career opportunity. Mr. Weinswig will assist the Company to ensure a successful transition of responsibilities prior to his departure. Mr. Weinswig’s resignation is not a result of any disagreement related to the Company’s operations, policies or practices, including any accounting principles and practices, or related to any financial statements or disclosures.\n\n\nOuster’s Board of Directors appointed Chen Geng, Ouster’s Vice President of Strategic Finance and Treasurer, to serve as Interim Chief Financial Officer, effective January 31, 2025. Mr. Geng joined Ouster in 2021 and during his tenure has been instrumental in the Company’s financial and business functions, including strategic planning, financings, mergers and acquisitions, treasury, preparation of periodic reports filed with the Securities and Exchange Commission, and investor relations.\n\n\n“On behalf of our employees and Board of Directors, I want to thank Mark for his leadership and contributions to the financial management and strategic direction of the Company. We wish him much success in his future endeavors,” said Ouster CEO Angus Pacala.\n\n\n“It has been a privilege to serve on Ouster’s leadership team and I am proud of our accomplishments,” said Mr. Weinswig. “I have full confidence in Ouster’s future and am excited to watch the Company continue to innovate and empower industries with high-performance, reliable, and accessible 3D sensing solutions.”\n\n\nOuster has already begun its search to identify a permanent Chief Financial Officer.\n\n\nPreliminary Fourth Quarter 2024 Revenue Results\n\n\nOuster expects revenue for the fourth quarter of 2024 to be within the previously announced guidance range of $29 million to $31 million provided on November 7, 2024 based on preliminary results.\n\n\nPreliminary revenue results are based on the Company’s current expectations and may be adjusted as ...