Ouster, Inc. Reports Record 2024 Revenue Growth

Ouster, Inc. ( (OUST) ) has released its Q4 earnings. Here is a breakdown of the information Ouster, Inc. presented to its investors.

Ouster, Inc. is a global leader in providing high-resolution lidar sensors and software solutions, primarily serving the automotive, industrial, robotics, and smart infrastructure sectors. The company is recognized for its commitment to creating a safer and more sustainable future through its innovative and accessible 3D sensing technologies.

Ouster, Inc. recently announced its financial results for the fourth quarter and fiscal year 2024, showcasing record revenue achievements. The company reported a significant increase in revenue, driven by strong demand in the robotics and automotive sectors, and highlighted its strategic advancements in product development and market expansion.

Key financial highlights for the fourth quarter of 2024 include a 23% year-over-year revenue growth to $30 million, with a GAAP gross margin improvement to 44%. The company shipped over 4,800 sensors, contributing to a net loss reduction to $24 million from $39 million in the previous year. For the full fiscal year, Ouster achieved a 33% increase in revenue to $111 million, with a notable improvement in GAAP gross margin to 36% and a significant reduction in net loss to $97 million from $374 million in 2023.

Strategically, Ouster expanded its software-attached bookings by over 60% and increased deployments across more than 700 sites, including high-profile events like the Paris Olympics. The company also made strides in developing next-generation silicon chips and new tools to accelerate lidar adoption, positioning itself for further growth in 2025.

Looking ahead, Ouster’s management remains optimistic about navigating the evolving market conditions in 2025. The company plans to continue its product portfolio transformation, aiming to significantly expand its addressable market and empower global industries with its high-performance 3D sensing solutions.