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Ouster Announces Record Revenue for Fourth Quarter and Fiscal Year 2024
Record revenue of $30 million and GAAP gross margin of 44% SAN FRANCISCO--(BUSINESS WIRE)-- Ouster, Inc. (Nasdaq: OUST) (“Ouster” or the “Company”), a
About this update from Ouster, Inc.
[{"type":"text","content":"\nRecord revenue of $30 million and GAAP gross margin of 44%\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 financial results for the three and twelve months ended December 31, 2024.\n\nFourth Quarter 2024 Financial Highlights\n\n\nRevenue of $30 million, up 23% year over year and 7% sequentially.\n\n\nShipped more than 4,800 sensors for revenue.\n\n\nGAAP gross margin of 44%, compared with 22% in the fourth quarter of 2023 and 38% in the third quarter of 2024.\n\n\nNon-GAAP gross margin1 of 44%, compared with 35% in the fourth quarter of 2023 and 45% in the third quarter of 2024.\n\n\nNet loss of $24 million, compared with $39 million in the fourth quarter of 2023 and $26 million in the third quarter of 2024.\n\n\nAdjusted EBITDA1 loss of $10 million, compared with $14 million in the fourth quarter of 2023 and $10 million in the third quarter of 2024.\n\n\nFull Year 2024 Highlights\n\n\nRevenue of $111 million, an increase of 33% compared with fiscal year 2023.\n\n\nShipped more than 17,300 sensors for revenue.\n\n\nGAAP gross margin of 36%, compared with 10% in fiscal year 2023.\n\n\nNon-GAAP gross margin1 of 41%, compared with 30% in fiscal year 2023.\n\n\nNet loss of $97 million, compared with a loss of $374 million in fiscal year 2023.\n\n\nAdjusted EBITDA1 loss of $42 million, compared with a loss of $84 million in fiscal year 2023.\n\n\nEnded 2024 with cash, cash equivalents, restricted cash, and short-term investments balance of $175 million.\n\n\nFully repaid all outstanding balances under revolving credit line utilizing cash on hand.\n\n\nIncreased software-attached bookings by over 60% as compared with fiscal year 2023.\n\n\nExpanded bookings for Ouster Gemini and BlueCity deployments to more than 700 sites.\n\n\n\n__________________\n\n\n\n1Adjusted EBITDA loss and non-GAAP gross margin are non-GAAP financial measures. See Non-GAAP Financial Measures for additional information and reconciliations of these measures to their respective most directly comparable financial measures calculated in accordance with U.S. GAAP.\n\n\n\n\n“The fourth quarter capped off a year of consistent execution, record ...