Business
Ouster Reports Third Quarter 2021 Financial Results
$7.8 million in revenue, up 31% year over year, and 24% gross margins Record shipments of over 1,630 sensors in Q3 Reaffirms FY 2021 guidance of $33 million
About this update from Ouster, Inc.
[{"type":"text","content":"\n$7.8 million in revenue, up 31% year over year, and 24% gross margins\n\nRecord shipments of over 1,630 sensors in Q3\n\nReaffirms FY 2021 guidance of $33 million to $35 million of revenue and 25% to 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 industrial, smart infrastructure, robotics, and automotive industries, today announced financial results for the three months ended September 30, 2021.\n\nThird Quarter 2021 Financial Highlights\n\n\n$7.8 million in revenue, up 31% year over year.\n\n\n24% gross margins, up from 18% year over year.\n\n\nShipped over 1,630 sensors, up 127% year over year.\n\n\nIncreased the number of Strategic Customer Agreements to 62, collectively representing approximately $470 million in contracted revenue opportunity.1\n\n\nNet loss decreased to $13 million, compared to $20 million in third quarter 2020.\n\n\nAdjusted EBITDA2 loss increased to $19 million (including $1.2 million of expenses related to Sense Photonics acquisition), up from $6 million year over year.\n\n\n“Ouster delivered another great quarter, increasing revenue, adding new customers as well as additional Strategic Customer Agreements, extending our leadership position in the industry,” said Ouster CEO Angus Pacala. “We continue to drive commercial growth and performance improvements, and with our acquisition of Sense Photonics, we intend to deliver on our auto OEM agreement, advance negotiations for series production programs, and achieve key milestones on our path to automotive readiness for our solid-state platform.”\n\nRevenue growth was primarily driven by the increases in sales volume compared to the second quarter of 2021. As expected, the Company continued to reduce its cost per unit sold in line with its average selling price, in spite of headwinds from continued industry supply chain challenges.\n\nBusiness Updates\n\nCommercial Milestones: Ouster Automotive, formed following the acquisition of Sense Photonics3, passed another major milestone in its strategic development agreement with its global automotive OEM partner, shipping solid-state sensors in the third and fourth quarters of 2021 and progressing to onsite testing in October 2021. The Company has also continued to advance negotiation...