Ouster (OUST) investor relations material

Executive summary

• Achieved record product revenue in Q1 2026, marking the 13th consecutive quarter of growth, with over 12,600 lidar and camera sensors shipped and strong demand across key markets.

• Revenue grew 49% year-over-year to $49 million, driven by increased sensor volumes, Stereolabs acquisition, and new million-dollar contracts in smart infrastructure and industrial automation.

• Launched Rev8 OS digital lidar with native color sensing, representing a major technological leap and receiving strong early customer adoption.

• Completed the acquisition of Stereolabs, expanding the product portfolio and accelerating innovation in AI perception and camera vision.

• Net loss narrowed to $17.5 million from $22.0 million in the prior year quarter.

Financial highlights

• Q1 2026 revenue reached $49 million, up 49% year-over-year, with over 12,600 sensors shipped (8,300+ lidar, 4,300+ camera).

• GAAP gross margin improved to 43%, up from 41% in Q1 2025.

• Adjusted EBITDA loss was $7 million, an improvement from $8 million loss in Q1 2025.

• Operating expenses rose 7% to $40 million, including $2.3 million in acquisition/integration charges.

• Ended the quarter with $175 million in cash equivalents, restricted cash, and short-term investments, and no debt.

Outlook and guidance

• Q2 2026 revenue guidance is $49.5 million to $52.5 million, including a full quarter of Stereolabs operations.

• Long-term financial framework targets 30%-50% annual revenue growth, 35%-40% GAAP gross margins, and 5%-8% annual operating expense growth from 2025 levels.

• Path to profitability expected within 2027, driven by innovation, disciplined OpEx, and revenue scale.

• Management expects continued investment in R&D and sales/marketing to drive growth and expand international presence.