Ouster Inc Stock Price, News & Analysis

Ouster, Inc. (NYSE: OUST) has announced the integration of its Ouster Gemini digital lidar perception platform with Genetec™ Security Center. This integration allows customers to combine lidar and video surveillance into a single interface for enhanced security operations. Genetec, a global security management provider with over 42,500 customers, can now offer its users the ability to leverage 3D lidar data for more accurate intrusion detection.

Ouster Gemini's AI-enabled perception software provides real-time physical intrusion detection, capable of simultaneously measuring the distance, trajectory, and speed of over 1,000 people or vehicles. It can detect entry and exit from specific zones, including intrusions over fences, tailgating, and entry into restricted areas. The integration enables Genetec Security Center users to trigger alerts, cue PTZ cameras, initiate alarms, and record events based on Ouster Gemini's detections.

Ouster, Inc. (NYSE: OUST) announced that its Blue City traffic management solution has achieved NEMA TS2 certification for traffic actuation. This makes it the first lidar traffic solution with Buy America(n) certified lidar to receive this certification. Blue City combines Ouster's 3D lidar sensors with edge AI to capture traffic data, improving safety and efficiency while protecting privacy.

The solution is currently deployed at over 250 intersections, with more installations underway. The U.S. Department of Transportation recently awarded two million dollar SMART Grants to Nashville and Chattanooga for implementing Blue City. This certification is expected to accelerate the adoption of Blue City across North America, supporting Ouster's growing software-attached sales.

Ouster (NYSE: OUST) reported strong Q2 2024 results with revenue of $27 million, up 39% year-over-year and 4% sequentially. The company achieved a GAAP gross margin of 34% and a non-GAAP gross margin of 40%. Ouster shipped over 4,000 sensors and saw significant growth in software-attached sales. The net loss was $24 million, with an Adjusted EBITDA loss of $11 million.

Key highlights include:

• Cash balance of $186 million as of June 30, 2024
• Repayment of all outstanding balance on revolving credit line
• Secured deals for Ouster Gemini software solution
• Taped out automotive-grade custom silicon 'Chronos' chip

Ouster, Inc. (NYSE: OUST), a leading provider of high-performance lidar sensors, has announced its upcoming second quarter 2024 earnings call. The company will report its financial results for Q2 2024 on August 13, 2024, after market close. A conference call is scheduled for 5:00 p.m. ET on the same day to discuss the results.

Interested parties can register for the call via a provided website link. The call will also be available as a live webcast and later as a replay on Ouster's investor website. A telephone replay will be accessible until August 27, 2024. Ouster, headquartered in San Francisco, offers lidar sensors and software solutions for various industries, including automotive, industrial, robotics, and smart infrastructure.

Ouster, Inc. (NYSE: OUST) reported record revenue of $26 million, up 51% year over year, with a GAAP gross margin of 29% and a non-GAAP gross margin of 36%. The company's net loss decreased significantly compared to the previous year. Ouster aims to achieve profitability in 2024 through revenue growth, expanding software solutions, advancing digital lidar hardware, and improving the long-term financial framework.