Ouster, Inc. · NASDAQ:OUST
Ouster — Colonnade Acquisition — SPAC Merger (February 2021)
37 slides from Ouster's SPAC merger presentation, Feb 22, 2021
Slide 1: Shareholder vote: March 9th
investors.ouster.com Shareholder vote: March 9th Exhibit 99.1
Slide 2: Disclaimers: About this Presentation
Disclaimers About this Presentation This investor presentation (this “Presentation”) does not constitute (i) a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination between Ouster, Inc. (“Ouster”) and Colonnade Acquisition
Slide 3: Disclaimers: Non-GAAP Financial Measures
Disclaimers Non-GAAP Financial Measures This Presentation also includes certain financial measures not presented in accordance with generally accepted accounting principles (“GAAP”) including, but not limited to, Adjusted EBITDA and certain ratios and other metrics derived therefrom. Ouster defines EB
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Slide 6: Strategic customer agreement with Plus
Strategic customer agreement with Plus Plus is a supplier of autonomous trucking technology Binding agreement Minimum purchase commitment of 2,000 sensors Currently projected non-binding forecast of 160,000 sensors over next 5 years
Slide 7: Digital technology rapidly replaces analog with Moore's Law price-performance superiority
Digital technology rapidly replaces analog with Moore’s Law price-performance superiority ANALOG DIGITAL The jump from analog to digital transforms industries LIMITED USE CASES EXPANDED, UBIQUITOUS USE CASES Camera Lidar Industrial Robotics Smart Infra Auto 7B Units 2020E 300M Units 2030E 30M Units
Slide 8: Ouster Digital Lidar Architecture
Ouster Digital Lidar Architecture 1. VCSEL LASER ARRAY 2. DIGITAL RECEIVER SoC (ASIC) • Proprietary single photon counting (SPAD) architecture and processing • Combines command and control logic, signal processing, on chip memory, and pixel array • Sourced from global leader in SPAD fabrication • Fu
Slide 9: Benchmark
Benchmark Ayudhaya Thailand > Benchmark.
Slide 10: Digital lidar is chip based, efficient, and driven by Moore's Law
FMCW Digital 905 nm MEMS Single Chip vs. Complex 1550 nm Digital lidar is chip based, efficient, and driven by Moore’s Law Efficiency vs. Brute Force Aligned with Moore’s Law vs. Incremental Integrated Complex Complex Complex Complex Efficiency Brute Force In-between Brute Force In-between Moore’s L
Slide 11: Complex architectures are a hallmark of analog technology
Complex architectures are a hallmark of analog technology 1550 nm FMCW MEMS 905 nm US Patent 10,267,898 Figure 18 (Luminar Technologies, Inc.) Laser System Detector System Optical System US Patent Application 0386872 A1 Figure 2B (Innoviz Technologies Ltd.) US Patent Application 0319314 A1 Figure 7B
Slide 12: Digital CMOS puts complexity on the chip
1550 nm FMCW MEMS 905 nm Laser System Detector System Optical System Digital CMOS puts complexity on the chip. 100M transistors L.3 Unnecessary in Ouster’s design Digital SoC Laser 1 cm “The best part is no part” - Elon Musk Note: L.3 SoC production planned in 2021 See previous slide for patent refe
Slide 13: Digital lidar outpaces others even before they reach market
Digital lidar outpaces others even before they reach market OS0 OS1 OS2 ES2 PRODUCT PORTFOLIO Performance Range x Resolution Time 905 nm analog lidar* Digital Lidar *Includes Mechanical, MEMS and FMCW approaches 130 nm L.1 L.2 L.3 40 nm XX nm OUSTER LIDAR SoC PROGRESSION L.1 L.2 L.3 1550 nm analog l
Slide 14: Lidar has the potential to automate the global supply and logistics chain
Mining 1 Manufacturing Trucking 5 Last mile 6 Shipping 4 2 Warehousing Lidar has the potential to automate the global supply and logistics chain Illustrative supply chain 3
Slide 15: Mining Automation
Lidar type Short-range Mid-range Quantity on-vehicle 3 - 4 1 - 2 Range Field of View (H x V) 0 - 50 meters 0 - 100 meters 180° x 90° 180° x 45° Mining Automation Note: Vehicles are meant as representations of common configurations, not indicative of current customers
Slide 16: Autonomous Mining
Autonomous Mining IK
Slide 17: Factory Automation
Lidar type Quantity on-vehicle Range Field of View (H x V) Short-range 2 - 4 0 - 50 meters 180° x 90° Factory Automation Note: Vehicles are meant as representations of common configurations, not indicative of current customers
Slide 18: Factory Automation
Factory Automation IK
Slide 19: Warehouse Automation
Warehouse Automation Lidar type Short-range Mid-range Quantity on-vehicle 3 - 4 1 - 2 Range Field of View (H x V) 0 - 50 meters 0 - 100 meters 180° x 90° 180° x 45° Note: Vehicles are meant as representations of common configurations, not indicative of current customers
Slide 20: Warehouse Automation
Warehouse Automation IK
Slide 21: Port Automation
Port Automation Lidar type Quantity on-vehicle Range Field of View (H x V) Mid-range 1 - 2 0 - 100 meters 360° x 45° Note: Vehicles are meant as representations of common configurations, not indicative of current customers
Slide 22: Port Automation
Port Automation IK
Slide 23: Autonomous Trucking
Lidar type Mid-range Long-range Quantity on-vehicle 2 1 Range Field of View (H x V) 0 - 50 meters 5 - 200+ meters 180° x 45° 120° x 20° Autonomous Trucking Note: Vehicles are meant as representations of common configurations, not indicative of current customers
Slide 24: Autonomous Last-mile Delivery
Autonomous Last-mile Delivery Lidar type Quantity on-vehicle Range Field of View (H x V) Short-range Mid-range 3-4 1 0 - 50 meters 0 - 100 meters 180° x 90° 360° x 45° Long-range 1 1 - 200 meters 360° x 20° Note: Vehicles are meant as representations of common configurations, not indicative of curre
Slide 25: Autonomous Last-mile Delivery
Autonomous Last-mile Delivery ——— —— _—
Slide 26: Automotive Business
Automotive Business Product Requirements Manufacturing Transferred >60% of production to Contract Manufacturer (Benchmark) IATF 16949:2016 certified ISO 9001:2015 and ISO 14001:2015 certified True solid-state product in development Automotive mechanical and environmental performance testing ASIL(B)
Slide 27: Ouster's perspective on automotive lidar
Ouster’s perspective on automotive lidar Automakers want a package of lidar sensors, not just one. Price will be a key differentiator between winners and losers in auto We expect gross margins to match the auto industry, not tech 1. 2. 3.
Slide 28: Automotive OEMs want a multi-lidar package, similar to cameras
Automotive OEMs want a multi-lidar package, similar to cameras L2+ ADAS System ADAS Features Traffic Jam Assist 5 Lidar Package 1 Forward Lidar Automated Parking Adaptive Cruise Control Automatic Lane Change
Slide 29: Digital lidar achieves the ADAS end state in product and pricing
Digital lidar achieves the ADAS end state in product and pricing 1 Forward lidar 1,000 5 Lidar package total 1,000 each $ $ VS Others * *Representative proposed offering from competitors based on publicly available statemens
Slide 30: Financial Overview
Financial Overview Ne
Slide 31: Record Q4 momentum
Record Q4 momentum Q4 2020 revenue of $6.4 million: Ouster’s highest revenue quarter to date 100+ new customers secured in Q4 2020, bringing total for 2020 to ~500 Excellent margins: 31% gross margin achieved in Q4 Lidar sensor production increased 61% in Q4 compared to Q3 as our manufacturing capac
Slide 32: Accelerating sales growth across diversified end markets
Accelerating sales growth across diversified end markets REVENUE ($M) SENSOR UNIT SALES (000s) 142% CAGR Auto expected to account for ~15% of 2020-25E revenue BLENDED ASP & COGS/UNIT ($) 218% CAGR Note: ADAS refers to advanced driver assistance systems. 2020 numbers reflect preliminary unaudited fin
Slide 33: Customer forecasts expected to anchor revenue projections through 2025E
Customer forecasts expected to anchor revenue projections through 2025E with ~$5B cumulative opportunity Current customers drive bottoms-up revenue visibility 210 existing 25+ Pilot evaluation Production 135+ Benchtop evaluation ~20 ~25% CONVERSION RATE ~65% CONVERSION RATE 15+ 100% CONVERSION RATE
Slide 34: We expect our current customers to anchor projections
We expect our current customers to anchor projections. New customers expected to ~3x our 2025E opportunity. Current customers drive bottoms-up revenue visibility $11B+ cumulative 2020-25E sales opportunity including new customers 2020-25E SALES OPPORTUNITY AND CURRENT REVENUE PROJECTIONS HIGHLIGHTS
Slide 35: Flexible architecture expected to drive strong margins and cash flow
Note: 2020 numbers reflect preliminary unaudited financial results. (1) Adj. EBITDA is defined as operating income plus depreciation, amortization and SBC expenses, and Adj. EBITDA margin is defined as Adj. EBITDA divided by total revenue. (2) Adj. EBITDA less capex conversion is defined as Adj. EBI
Slide 36: New funds expected to help drive rapid scale
TO DRIVE… New funds expected to help drive rapid scale Rapid deployment of end market customizations Improved customer stickiness through deep bench of analytic capabilities Accelerated R&D further widens technological moats EXPECTED USE OF NEW FUNDS Build-out worldwide sales and marketing effort De
Slide 37: Shareholder vote: March 9th
investors.ouster.com Shareholder vote: March 9th