The earnings call was largely positive, with Ouster achieving record revenue and gross margins, major customer wins, and strong progress in software sales and strategic priorities. However, some concerns were noted with sequential declines in sensor shipments and increased litigation expenses.

Company Guidance

During Ouster's third quarter 2024 earnings call, the company provided guidance for the fourth quarter, anticipating revenue between $29 million and $31 million. The third quarter showcased impressive metrics, with record revenue of $28 million and a GAAP gross margin of 38%, reaching the company's long-term framework target of 35% to 40%. The robotics vertical was the largest contributor to revenue, with smart infrastructure also playing a significant role. Ouster ended the quarter with a strong balance sheet, holding $154 million in cash after repaying $44 million in revolving credit, and maintained an operating expense of $38 million. The company continues to aim for 30% to 50% annual revenue growth and is focused on expanding its software sales, as evidenced by the record high software attached sales in Q3.

Record-Breaking Revenue and Gross Margin

Ouster reported record revenue of $28 million for Q3 2024, marking the seventh consecutive quarter of revenue growth. The company also achieved a record GAAP gross margin of 38%.

Strong Balance Sheet

Ouster ended the quarter with a robust balance sheet, holding $154 million in cash after repaying all outstanding balances on its revolving credit line.

Key Customer Wins and Product Adoption

Ouster secured the largest purchase order in its history from a leading global technology company for its REV7 sensors, and reported significant adoption of its BlueCity and Gemini software solutions.

Progress in Strategic Business Priorities

Ouster's digital lidar hardware roadmap is on track with the development of L4 sensors and Chronos chip, set to unlock new verticals and enhance product performance.

Software Sales Growth

Record software attached sales were achieved, with new customers onboarded for BlueCity and Gemini solutions, contributing to ASP growth.

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Ouster (OUST) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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OUST Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 06, 2021	2021 (Q1)	-1.02 / -1.75	-7.477	76.59% (+5.73)	―	―
Aug 09, 2021	2021 (Q2)	-0.97 / -2.10	-0.002	-104900.00% (-2.10)	―	―
Nov 08, 2021	2021 (Q3)	-1.33 / -1.30	-7.8	83.33% (+6.50)	―	―
Feb 15, 2022	2021 (Q4)	-1.47 / -1.50	-4.3	65.12% (+2.80)	―	―
May 03, 2022	2022 (Q1)	-1.62 / -1.90	-1.75	-8.57% (-0.15)	―	―
Aug 04, 2022	2022 (Q2)	-1.57 / -1.14	-2.1	45.90% (+0.96)	―	―
Nov 07, 2022	2022 (Q3)	-1.50 / -1.53	-1.3	-18.00% (-0.23)
Mar 23, 2023	2022 (Q4)	-1.64 / -1.87	-1.5	-24.40% (-0.37)
May 11, 2023	2023 (Q1)	-1.71 / -2.22	-1.9	-16.84% (-0.32)
Aug 10, 2023	2023 (Q2)	-1.28 / -1.01	-1.136	10.92% (+0.12)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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OUST Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 07, 2024	$7.87	$7.99	+1.52%
Aug 13, 2024	$10.88	$7.87	-27.67%
May 09, 2024	$10.35	$12.40	+19.81%
Mar 26, 2024	$4.98	$6.70	+34.54%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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