Ouster Inc (NASDAQ:OUST) posted financial results for the second quarter after the market close on Thursday. Here’s a look at the key details from the print.
- Ouster stock is trending. Where is OUST stock headed?
Ouster Q2 Report Highlights
Ouster reported second-quarter revenue of $54.63 million, beating analyst estimates of $50.88 million, according to Benzinga Pro. The company reported a second-quarter loss of 27 cents per share, missing estimates for a loss of 20 cents per share.
Total revenue increased 56% year-over-year as product revenue increased 51% to $53 million. The company reported total shipments of more than 17,000 lidar (light detection and ranging) and camera sensors during the quarter.
Ouster ended the quarter with $263 million in cash, cash equivalents, restricted cash and short-term investments.
“These results reflect the strength of our unified sensing and perception platform and the continued momentum we have been seeing across our markets,” said Angus Pacala, CEO of Ouster.
“Customers around the world have continued to scale their investments in Physical AI, and Ouster is well positioned to benefit as autonomy moves into more complex, real-world applications.”
Ouster guided for third-quarter revenue in the range of $54.5 million to $57.5 million, versus estimates of $57.48 million. The soft guidance at the midpoint appears to be weighing on shares after hours.
Ouster executives will further discuss the quarter on an earnings call at 5 p.m. ET.
OUST Stock Trades Lower After Hours
Ouster shares were down 8.51% in after-hours, trading at $41.70 at the time of publication on Thursday, according to Benzinga Pro.
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