Business
Ouster Delivers on 2021 Guidance with $34 Million in Revenue and 27% Gross Margins; Q4 Revenue Up 53%; Aims to Double Revenue for 2022
$11.9 million in revenue in Q4, up 53% sequentially, with industry-leading 30% gross margins Record shipments of over 2,400 sensors in Q4, nearly tripling
About this update from Ouster, Inc.
[{"type":"text","content":"\n$11.9 million in revenue in Q4, up 53% sequentially, with industry-leading 30% gross margins\n\nRecord shipments of over 2,400 sensors in Q4, nearly tripling year-over-year\n\nDelivers on Full Year 2021 guidance with $34 million of revenue and 27% gross margins\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nOuster, Inc. (NYSE: OUST) (“Ouster” or the “Company”), a leading provider of high-resolution digital lidar sensors for the automotive, industrial, smart infrastructure, and robotics industries, today announced financial results for the three and twelve months ended December 31, 2021.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220215006123/en/Ouster delivers on 2021 guidance following record fourth quarter (Graphic: Business Wire)\nFourth Quarter 2021 Financial Highlights\n\n\n$11.9 million in revenue, up 86% year over year.\n\n\n30% gross margins, compared to 31% in fourth quarter 2020, and 24% in third quarter 2021.\n\n\nShipped over 2,400 sensors in the fourth quarter, up 198% year over year.\n\n\nIncreased the number of Strategic Customer Agreements to 68, up from 62 in the prior quarter, collectively representing approximately $500 million in contracted revenue opportunity through 2025.1\n\n\nNet loss decreased to $28 million, compared to $57 million in fourth quarter 2020.\n\n\nAdjusted EBITDA2 loss increased to $24 million, compared to $9 million in fourth quarter 2020.\n\n\nInvestments in scaling the commercial organization as well as advancements in hardware and firmware were key drivers of revenue growth in the fourth quarter. The Company signed 68 Strategic Customer Agreements (SCAs) through the end of the fourth quarter, up from 10 SCAs as of the end of 2020. Ouster successfully launched its new OS sensors equipped with the L2X chip, which unlocks new customer opportunities across all verticals. The Company achieved positive gross margins of 30% in the fourth quarter, due primarily to increased sales volume, in spite of continued purchase price variance related to the ongoing headwinds stemming from industry supply chain challenges.\n\nFull Year 2021 Financial Highlights\n\n\nAchieved full year 2021 guidance with $34 million in revenue and 27% gross margins.\n\n\nShipped over 6,475 sensors in 2021, totaling over 10,000 sensors shipped to date.\n\n\nNet los...