What is Ouster Inc's earnings per share (EPS)?

Ouster Inc (OUSTW) reported diluted earnings per share of $-1.07 for fiscal year 2025. This represents a 48.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Ouster Inc Financials

OUSTW

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Ouster Inc (OUSTW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI OUSTW FY2025 2026-04-22

Revenue growth is finally producing much better gross economics, while cash burn now reflects heavier reinvestment more than collapsing margins.

The latest year's operating improvement did not translate into better free cash flow: FCF moved to -$64.8M from -$37.5M. Capital spending jumped to $24.9M from $3.8M, so more of the cash drain came from reinvestment even as the operating loss narrowed.

Gross margin reached 49.3% after sitting at 10.0% two years earlier, a sharp change in unit economics. Operating margin also improved from -93.8% to -43.7%, which suggests more gross profit is covering the cost base rather than the company merely cutting expenses.

Liquidity improved on the surface, with cash rising to $67.4M from $45.5M while current liabilities edged down. A 3.9x current ratio says near-term bills are not the immediate pressure point; the harder task is converting better margins into cash the business can generate on its own.

Financial Health Signals

Financial health score pending refresh

We are recalculating Ouster Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

5/8

Ouster Inc passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.66x

For every $1 of reported earnings, Ouster Inc generates $0.66 in operating cash flow (-$40.0M OCF vs -$60.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$169.4M

YoY+52.5%

5Y CAGR+55.0%

Ouster Inc generated $169.4M in revenue in fiscal year 2025. This represents an increase of 52.5% from the prior year.

EBITDA

-$66.2M

YoY+29.8%

Ouster Inc's EBITDA was -$66.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 29.8% from the prior year.

Net Income

-$60.4M

YoY+37.8%

Ouster Inc reported -$60.4M in net income in fiscal year 2025. This represents an increase of 37.8% from the prior year.

EPS (Diluted)

$-1.07

YoY+48.6%

Ouster Inc earned $-1.07 per diluted share (EPS) in fiscal year 2025. This represents an increase of 48.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$64.8M

YoY-73.2%

Ouster Inc generated -$64.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 73.2% from the prior year.

Cash & Debt

$67.4M

YoY+48.0%

5Y CAGR+42.8%

Ouster Inc held $67.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

61M

YoY+16.0%

Ouster Inc had 61M shares outstanding in fiscal year 2025. This represents an increase of 16.0% from the prior year.

Margins & Returns

Gross Margin

49.3%

YoY+12.8pp

5Y CAGR+41.3pp

Ouster Inc's gross margin was 49.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 12.8 percentage points from the prior year.

Operating Margin

-43.7%

YoY+50.1pp

5Y CAGR+230.1pp

Ouster Inc's operating margin was -43.7% in fiscal year 2025, reflecting core business profitability. This is up 50.1 percentage points from the prior year.

Net Margin

-35.6%

YoY+51.7pp

5Y CAGR+529.2pp

Ouster Inc's net profit margin was -35.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 51.7 percentage points from the prior year.

Return on Equity

-23.1%

YoY+30.6pp

Ouster Inc's ROE was -23.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 30.6 percentage points from the prior year.

Capital Allocation

R&D Spending

$65.2M

YoY+12.2%

5Y CAGR+22.8%

Ouster Inc invested $65.2M in research and development in fiscal year 2025. This represents an increase of 12.2% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$24.9M

YoY+562.8%

5Y CAGR+48.0%

Ouster Inc invested $24.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 562.8% from the prior year.

OUSTW Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$169.4M+52.5%	$111.1M+33.4%	$83.3M+103.0%	$41.0M+22.2%	$33.6M+77.6%	$18.9M
Cost of Revenue	$85.9M+21.7%	$70.6M-5.8%	$75.0M+149.1%	$30.1M+22.9%	$24.5M+40.8%	$17.4M
Gross Profit	$83.4M+106.2%	$40.5M+386.6%	$8.3M-23.9%	$10.9M+20.3%	$9.1M+500.5%	$1.5M
R&D Expenses	$65.2M+12.2%	$58.1M-36.3%	$91.2M+41.8%	$64.3M+86.0%	$34.6M+48.3%	$23.3M
SG&A Expenses	$64.6M+10.1%	$58.7M-28.4%	$82.0M+34.0%	$61.2M+17.8%	$52.0M+147.9%	$21.0M
Operating Income	-$74.0M+29.0%	-$104.2M+72.1%	-$373.2M-156.6%	-$145.4M-45.8%	-$99.7M-92.6%	-$51.8M
Interest Expense	$0-100.0%	$1.8M-80.4%	$9.3M+245.3%	$2.7M+434.5%	$504K-80.0%	$2.5M
Income Tax	-$2.9M-646.6%	$537K+2.7%	$523K+71.5%	$305K+110.9%	-$2.8M-845.1%	$375K
Net Income	-$60.4M+37.8%	-$97.0M+74.1%	-$374.1M-170.0%	-$138.6M-47.4%	-$94.0M+12.0%	-$106.8M
EPS (Diluted)	$-1.07+48.6%	$-2.08+79.4%	$-10.10-29.7%	$-7.79	$-0.70	$-5.98

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$48.6M-21.9%	$62.2M+57.3%	$39.5M+12.8%	$35.0M+7.4%	$32.6M+8.4%	$30.1M+7.2%	$28.1M+4.0%	$27.0M
Cost of Revenue	$27.7M+12.2%	$24.7M+8.1%	$22.9M+19.1%	$19.2M+0.3%	$19.1M+13.2%	$16.9M-2.4%	$17.3M-3.2%	$17.9M
Gross Profit	$20.8M-44.4%	$37.5M+124.8%	$16.7M+5.2%	$15.8M+17.5%	$13.5M+2.3%	$13.2M+22.6%	$10.8M+18.2%	$9.1M
R&D Expenses	$16.1M+5.4%	$15.3M-14.2%	$17.8M+3.7%	$17.1M+14.4%	$15.0M+1.8%	$14.7M-2.7%	$15.1M+4.8%	$14.4M
SG&A Expenses	$16.1M+11.2%	$14.5M-7.6%	$15.7M-15.4%	$18.5M+16.6%	$15.9M-6.5%	$17.0M+6.8%	$15.9M+21.1%	$13.2M
Operating Income	-$19.2M-2225.2%	$904K+103.7%	-$24.3M+9.6%	-$26.8M-12.6%	-$23.8M+6.9%	-$25.6M+6.9%	-$27.5M-8.9%	-$25.3M
Interest Expense	N/A	$0	$0	$0	$0	$0-100.0%	$342K-53.8%	$740K
Income Tax	$552K+33.3%	$414K+475.0%	$72K+102.0%	-$3.6M-1954.4%	$195K-39.1%	$320K+964.9%	-$37K-130.1%	$123K
Net Income	-$17.5M-538.3%	$4.0M+118.3%	-$21.7M-5.4%	-$20.6M+6.4%	-$22.0M+7.2%	-$23.7M+7.2%	-$25.6M-7.2%	-$23.9M
EPS (Diluted)	$-0.28	N/A	$-0.37+2.6%	$-0.38+9.5%	$-0.42	N/A	$-0.54-1.9%	$-0.53

OUSTW Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$349.5M+26.6%	$276.1M-16.5%	$330.7M+29.1%	$256.1M-16.8%	$307.7M+563.0%	$46.4M
Current Assets	$278.9M+26.9%	$219.9M-16.5%	$263.2M+61.9%	$162.5M-21.6%	$207.4M+877.0%	$21.2M
Cash & Equivalents	$67.4M+48.0%	$45.5M-10.7%	$51.0M-58.5%	$122.9M-32.7%	$182.6M+1507.5%	$11.4M
Inventory	$23.6M+43.5%	$16.4M-29.3%	$23.2M+18.9%	$19.5M+162.3%	$7.4M+54.6%	$4.8M
Accounts Receivable	$27.8M+54.7%	$17.9M+23.1%	$14.6M+29.8%	$11.2M+4.8%	$10.7M+360.8%	$2.3M
Goodwill	$0	N/A	$0-100.0%	$51.2M+0.1%	$51.1M	$0
Total Liabilities	$87.8M-7.8%	$95.2M-37.0%	$151.1M+78.7%	$84.5M+79.8%	$47.0M-61.6%	$122.3M
Current Liabilities	$71.0M-9.4%	$78.4M-4.0%	$81.7M+177.0%	$29.5M+33.4%	$22.1M+5.7%	$20.9M
Long-Term Debt	N/A	$0-100.0%	$44.0M+11.1%	$39.6M	$0	N/A
Total Equity	$261.7M+44.7%	$180.9M+0.7%	$179.7M+4.7%	$171.6M-34.2%	$260.7M+443.4%	-$75.9M
Retained Earnings	-$973.4M-6.6%	-$913.1M-11.9%	-$816.0M-84.7%	-$441.9M-45.7%	-$303.4M-44.9%	-$209.4M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$381.5M+9.2%	$349.5M-1.2%	$353.8M+9.9%	$321.8M+19.8%	$268.6M-2.7%	$276.1M+8.2%	$255.2M-17.6%	$309.9M
Current Assets	$251.0M-10.0%	$278.9M-8.6%	$305.2M+11.7%	$273.2M+25.0%	$218.6M-0.6%	$219.9M+9.8%	$200.2M-20.6%	$252.0M
Cash & Equivalents	$78.7M+16.8%	$67.4M-22.6%	$87.1M+14.5%	$76.1M+41.0%	$54.0M+18.5%	$45.5M+2.6%	$44.4M-15.8%	$52.7M
Inventory	$29.9M+26.8%	$23.6M+42.7%	$16.5M+18.8%	$13.9M-8.0%	$15.1M-8.0%	$16.4M-11.9%	$18.6M-4.3%	$19.5M
Accounts Receivable	$26.2M-5.6%	$27.8M+12.0%	$24.8M+61.1%	$15.4M-14.1%	$17.9M-0.2%	$17.9M-2.6%	$18.4M+28.4%	$14.3M
Goodwill	$38.5M	$0	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$105.9M+20.6%	$87.8M-17.4%	$106.3M+5.5%	$100.8M+0.2%	$100.6M+5.7%	$95.2M+14.1%	$83.5M-40.1%	$139.3M
Current Liabilities	$84.3M+18.7%	$71.0M-24.3%	$93.8M+9.0%	$86.1M+1.3%	$85.0M+8.3%	$78.4M+22.3%	$64.1M-13.4%	$74.1M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$44.0M
Total Equity	$275.6M+5.3%	$261.7M+5.8%	$247.4M+11.9%	$221.0M+31.6%	$167.9M-7.2%	$180.9M+5.3%	$171.7M+0.7%	$170.6M
Retained Earnings	-$990.9M-1.8%	-$973.4M+0.4%	-$977.4M-2.3%	-$955.7M-2.2%	-$935.1M-2.4%	-$913.1M-2.7%	-$889.3M-3.0%	-$863.7M

OUSTW Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$40.0M-18.6%	-$33.7M+75.6%	-$137.9M-24.6%	-$110.7M-55.8%	-$71.1M-68.7%	-$42.1M
Capital Expenditures	$24.9M+562.8%	$3.8M+25.0%	$3.0M-44.6%	$5.4M+26.6%	$4.3M+22.1%	$3.5M
Free Cash Flow	-$64.8M-73.2%	-$37.5M+73.4%	-$140.9M-21.3%	-$116.1M-54.1%	-$75.3M-65.1%	-$45.6M
Investing Cash Flow	-$36.3M-347.4%	$14.7M-71.0%	$50.6M+1083.1%	-$5.1M+66.2%	-$15.2M-334.0%	-$3.5M
Financing Cash Flow	$97.6M+534.1%	$15.4M-1.7%	$15.7M-71.8%	$55.6M-78.5%	$258.3M+548.0%	$39.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	$0-100.0%	$45K0.0%	$45K	$0

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$7.3M+52.8%	-$15.4M+15.9%	-$18.3M-1301.2%	-$1.3M+73.2%	-$4.9M-90.5%	-$2.6M+32.0%	-$3.8M+82.6%	-$21.6M
Capital Expenditures	$2.6M-88.2%	$21.8M+1177.9%	$1.7M+91.5%	$889K+61.1%	$552K-61.9%	$1.4M+156.0%	$566K+57.7%	$359K
Free Cash Flow	-$9.8M+73.5%	-$37.2M-85.5%	-$20.0M-811.9%	-$2.2M+59.5%	-$5.4M-35.4%	-$4.0M+7.5%	-$4.3M+80.3%	-$22.0M
Investing Cash Flow	$17.1M+464.3%	-$4.7M+39.1%	-$7.7M+78.9%	-$36.5M-389.7%	$12.6M+162.3%	-$20.2M-178.4%	$25.8M+170.4%	$9.5M
Financing Cash Flow	$705K+150.0%	$282K-99.2%	$37.2M-37.6%	$59.5M+8917.1%	$660K-97.3%	$24.8M+183.4%	-$29.8M-278.4%	$16.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

OUSTW Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	49.3%+12.8pp	36.4%+26.4pp	10.0%-16.7pp	26.6%-0.4pp	27.1%+19.1pp	8.0%
Operating Margin	-43.7%+50.1pp	-93.8%+354.4pp	-448.1%-93.7pp	-354.4%-57.5pp	-296.9%-23.1pp	-273.8%
Net Margin	-35.6%+51.7pp	-87.4%+361.9pp	-449.2%-111.5pp	-337.7%-57.8pp	-279.9%+285.0pp	-564.9%
Return on Equity	-23.1%+30.6pp	-53.6%+154.6pp	-208.2%-127.5pp	-80.7%-44.7pp	-36.0%	N/A
Return on Assets	-17.3%+17.9pp	-35.1%+78.0pp	-113.1%-59.0pp	-54.1%-23.6pp	-30.5%+199.5pp	-230.1%
Current Ratio	3.93+1.1	2.80-0.4	3.22-2.3	5.51-3.9	9.38+8.4	1.01
Debt-to-Equity	0.34+0.3	0.00-0.2	0.24+0.0	0.23+0.2	0.00+1.6	-1.61
FCF Margin	-38.3%-4.6pp	-33.7%+135.5pp	-169.2%+113.8pp	-283.0%-58.6pp	-224.4%+17.0pp	-241.4%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	42.9%-17.3pp	60.2%+18.1pp	42.1%-3.1pp	45.2%+3.9pp	41.3%-2.5pp	43.8%+5.5pp	38.3%+4.6pp	33.7%
Operating Margin	-39.6%-41.0pp	1.5%+62.8pp	-61.4%+15.2pp	-76.5%-3.5pp	-73.0%+12.0pp	-85.1%+12.9pp	-98.0%-4.4pp	-93.5%
Net Margin	-35.9%-42.4pp	6.4%+61.4pp	-55.0%+3.8pp	-58.8%+8.7pp	-67.5%+11.4pp	-78.9%+12.3pp	-91.1%-2.7pp	-88.4%
Return on Equity	-6.3%-7.9pp	1.5%+10.3pp	-8.8%+0.5pp	-9.3%+3.8pp	-13.1%+0.0pp	-13.1%+1.8pp	-14.9%-0.9pp	-14.0%
Return on Assets	-4.6%-5.7pp	1.1%+7.3pp	-6.1%+0.3pp	-6.4%+1.8pp	-8.2%+0.4pp	-8.6%+1.4pp	-10.0%-2.3pp	-7.7%
Current Ratio	2.98-0.9	3.93+0.7	3.25+0.1	3.17+0.6	2.57-0.2	2.80-0.3	3.12-0.3	3.40
Debt-to-Equity	0.38+0.0	0.34-0.1	0.43-0.0	0.46-0.1	0.60+0.6	0.000.0	0.00-0.3	0.26
FCF Margin	-20.3%+39.5pp	-59.8%-9.1pp	-50.7%-44.4pp	-6.3%+10.4pp	-16.6%-3.3pp	-13.3%+2.1pp	-15.4%+66.1pp	-81.5%

Frequently Asked Questions

What is Ouster Inc's annual revenue?

Ouster Inc (OUSTW) reported $169.4M in total revenue for fiscal year 2025. This represents a 52.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ouster Inc's revenue growing?

Ouster Inc (OUSTW) revenue grew by 52.5% year-over-year, from $111.1M to $169.4M in fiscal year 2025.

Is Ouster Inc profitable?

No, Ouster Inc (OUSTW) reported a net income of -$60.4M in fiscal year 2025, with a net profit margin of -35.6%.

What is Ouster Inc's EBITDA?

Ouster Inc (OUSTW) had EBITDA of -$66.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Ouster Inc's gross margin?

Ouster Inc (OUSTW) had a gross margin of 49.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Ouster Inc's operating margin?

Ouster Inc (OUSTW) had an operating margin of -43.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Ouster Inc's net profit margin?

Ouster Inc (OUSTW) had a net profit margin of -35.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Ouster Inc's return on equity (ROE)?

Ouster Inc (OUSTW) has a return on equity of -23.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Ouster Inc's free cash flow?

Ouster Inc (OUSTW) generated -$64.8M in free cash flow during fiscal year 2025. This represents a -73.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Ouster Inc's operating cash flow?

Ouster Inc (OUSTW) generated -$40.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ouster Inc's total assets?

Ouster Inc (OUSTW) had $349.5M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Ouster Inc's capital expenditures?

Ouster Inc (OUSTW) invested $24.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Ouster Inc spend on research and development?

Ouster Inc (OUSTW) invested $65.2M in research and development during fiscal year 2025.

How many shares does Ouster Inc have outstanding?

Ouster Inc (OUSTW) had 61M shares outstanding as of fiscal year 2025.

What is Ouster Inc's current ratio?

Ouster Inc (OUSTW) had a current ratio of 3.93 as of fiscal year 2025, which is generally considered healthy.

What is Ouster Inc's debt-to-equity ratio?

Ouster Inc (OUSTW) had a debt-to-equity ratio of 0.34 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ouster Inc's return on assets (ROA)?

Ouster Inc (OUSTW) had a return on assets of -17.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Ouster Inc's cash runway?

Based on fiscal year 2025 data, Ouster Inc (OUSTW) had $67.4M in cash against an annual operating cash burn of $40.0M. This gives an estimated cash runway of approximately 20 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Ouster Inc's Piotroski F-Score?

Ouster Inc (OUSTW) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ouster Inc's earnings high quality?

Ouster Inc (OUSTW) has an earnings quality ratio of 0.66x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.