Ouster Second Quarter 2021 Financial Results

CORRECTING and REPLACING Ouster Reports Second Quarter 2021 Financial Results

$7.4 million in revenue, up 72% year over year, and 26% gross margins Record shipments of over 1,460 sensors

SAN FRANCISCO–(BUSINESS WIRE)–In the Company’s Condensed Consolidated Statements Of Operations And Comprehensive Loss, this release corrects “Net loss per common share, basic and diluted” and “Weighted-average shares used to compute basic and diluted net loss per share” for the three months ended June 30, 2020.

The updated release reads:



$7.4 million in revenue, up 72% year over year, and 26% gross margins
Record shipments of over 1,460 sensors

Ouster, 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 June 30, 2021.

Second Quarter 2021 Financial Highlights

  • $7.4 million in revenue, up 72% year over year, and up 11% from first quarter 2021.
  • 26% gross margins, up from 9% in second quarter 2020 and consistent with first quarter 2021.
  • Shipped over 1,460 sensors, an increase of 342% year over year, and a 49% increase over first quarter 2021.
  • Increased the total number of Strategic Customer Agreements to 53, collectively representing over $422 million in contracted revenue opportunity.1
  • Net loss increased to $32.0 million, compared to $11.3 million in second quarter 2020 and $21.0 million in first quarter 2021.
  • Adjusted EBITDA loss increased to $14.1 million, up from $9.3 million year over year and $10.0 million in first quarter 2021.

Revenue growth was driven by the increases in sales volume compared to the first quarter of 2021. Stability in margins was attributable to decreases in cost per unit as the Company continued to realize economies of scale in its production capabilities. The Company maintained margin stability despite ongoing supply chain challenges relating to the global shortage of semiconductors, and Ouster’s move towards multi-year agreements with negotiated customer pricing causing declines in average selling prices (ASPs). The increase in Adjusted EBITDA loss was primarily due to the Company’s continued investments in its hardware roadmap, software, and expansion of its commercial team.

Business Outlook and 2021 Guidance

For the full year 2021, Ouster expects to achieve $33 million to $35 million of revenue and 25% to 27% gross margins.

Ouster CEO Angus Pacala commented, “We believe our second quarter results demonstrate that we continue on our path of becoming the leading lidar company across each of our four verticals. We believe we have the most differentiated technology and the most diversified customer base among lidar companies, as well as a proven ability to execute. Ouster continues to invest in its long term growth by improving product performance, lowering costs, and growing revenues.”

Ouster CFO Anna Brunelle added, “We are investing in growing a best-in-class commercial organization to expand and support our customer base as well as in developing our highly competitive product roadmap, which we believe will allow Ouster to pull ahead in each of our verticals over time.”


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