Ouster Inc Stock Price, News & Analysis

Ouster, Inc. (NYSE: OUST) reported Q3 2022 revenue of $11.2 million, marking a 44% year-over-year increase, and achieving record gross margins of 33%. The company sold 2,136 sensors, up 31% from the previous year, and increased Strategic Customer Agreements to 84. However, the net loss widened to $36 million. Ouster announced a planned merger with Velodyne in an all-stock transaction aimed at accelerating lidar adoption, which is subject to regulatory approval and expected to close in H1 2023.

Ouster and Velodyne have announced a definitive merger agreement to create a strong leader in the lidar industry through an all-stock transaction. The merger is anticipated to enhance financial stability, with a combined cash balance of approximately $355 million as of September 30, 2022, and projected annualized cost savings of at least $75 million within nine months of closing. The combined entity aims to accelerate lidar adoption across diverse markets, leveraging operational synergies and a robust product portfolio.

Ouster (NYSE: OUST) and Velodyne (NASDAQ: VLDR, VLDRW) have announced a definitive agreement to merge in an all-stock transaction. The merger aims to enhance financial strength, leveraging a combined cash balance of $355 million as of Q3 2022. Expected annualized cost savings of at least $75 million are anticipated within nine months post-closing. Ouster and Velodyne will present a united front, utilizing operational synergies and a robust product offering to accelerate lidar technology adoption in various markets. The merger is subject to shareholder approval, expected to close in the first half of 2023.

Ouster (NYSE: OUST) launched its advanced OS series scanning sensors, including the new OSDome sensor and the REV7, powered by a next-generation L3 chip. This release promises enhanced performance with double the range, improved object detection, and increased precision. The L3 chip employs cutting-edge technology for better digital signal processing and sensitivity. The OSDome sensor provides a hemispheric field of view for industrial applications. The sensors are available for order with initial shipments expected in Q4 2022.

Ouster, Inc. (NYSE: OUST) announces it will report its Q3 2022 results on November 7, 2022, after market close. A conference call will be hosted that day at 5:00 p.m. ET to discuss the financial results. Registration for the call can be completed online, and it will be available via a live webcast and replay for 30 days on Ouster's investor website.

Ouster specializes in high-resolution digital lidar sensors for various industries, supporting about 600 customers globally.

Ouster, Inc. (NYSE: OUST) will launch new products featuring its advanced L3 digital lidar chip on October 19, 2022. The company plans to hold a conference call at 11:00 a.m. ET the same day to discuss these innovations with investors and analysts. Ouster, a leader in high-resolution digital lidar sensors, aims to enhance safety and sustainability across automotive, robotics, industrial, and smart infrastructure sectors. Interested participants can register for the call or access it live via Ouster's investor site.

Benchmark Electronics has been awarded the title of Supply and Manufacturing Partner of the Year by Ouster, Inc., recognizing its excellence in performance, quality, and responsiveness. The award is a testament to Benchmark's ability to meet industrial quality standards while supporting high-volume production of Ouster's digital lidar sensors. Since 2017, Benchmark has successfully shipped over 14,000 sensors from its Thailand facility, which features advanced production capabilities. This partnership highlights Benchmark's commitment to innovation and customer satisfaction in the rapidly evolving sensor technology sector.

Ouster, Inc. (NYSE: OUST) has announced significant cost-cutting measures, aiming to reduce gross cash spend by over 15% in 2023, totaling approximately $107 million. The company will implement a 10% workforce reduction and suspend its common stock sales through its at-the-market offering. CEO Angus Pacala emphasized a focus on profitability and operational efficiency, while CFO Anna Brunelle noted plans to capture market share through product innovations. These strategic changes aim to extend Ouster's cash runway and strengthen its market position.

Ouster, Inc. (NYSE: OUST) has launched a new 3D industrial lidar sensor suite, tailored for high-volume material handling applications. The OS0 and OS1 sensors cater to forklift, port equipment, and autonomous mobile robot manufacturers, offering competitive pricing and advanced capabilities. This suite boasts industry-leading reliability, high resolution, a range of up to 100 meters, and an ultra-wide field of view. Ouster aims to capture a significant portion of the $1 billion industrial lidar market, promoting the transition from traditional 2D lidar to their innovative 3D solutions.