Ouster, Inc. OUST
Ouster, Inc. is a leader in sensing and perception for Physical Artificial Intelligence (Physical AI). Ouster enables machines to "Sense, Think, Act, and Learn" and independently execute tasks without human intervention. Physical AI allows machines to move beyond fixed, preprogrammed behavior into adaptive, intelligent action by focusing on perception, understanding, and learning from the physical world. As a pioneer in Physical AI, Ouster offers a unified sensing and perception platform that combines high-performance digital lidar, cameras, AI compute, sensor fusion and perception software, and cutting-edge AI models to our customers.
We anticipate that 3D vision technologies, coupled with artificial intelligence, will power autonomy that in turn will fundamentally disrupt business models across many existing industries and enable entirely new industries and capabilities. We believe that our digital lidar sensors are one of the highest performing, lowest cost solutions available today, which we believe positions us at the center of a global revolution in autonomy.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $169.4M | $111.1M | $83.3M | $41.0M | $33.6M | $18.9M | $11.4M | — |
| Cost of revenue | $85.9M | $70.6M | $75.0M | $30.1M | $24.5M | $17.4M | $17.4M | — |
| Gross profit | $83.4M | $40.5M | $8.3M | $10.9M | $9.1M | $1.5M | -$6.0M | — |
| R&D | $65.2M | $58.1M | $91.2M | $64.3M | $34.6M | $23.3M | $23.3M | — |
| SG&A | $64.6M | $58.7M | $82.0M | $61.2M | $52.0M | $21.0M | $14.5M | — |
| Total operating expenses | $157.4M | $144.6M | $381.5M | $156.4M | $108.8M | $53.3M | $42.3M | — |
| Operating income | -$74.0M | -$104.2M | -$373.2M | -$145.4M | -$99.7M | -$51.8M | -$48.4M | — |
| Interest expense | $0 | $1.8M | $9.3M | $2.7M | $504.0K | $2.5M | $3.6M | — |
| Pre-tax income | -$63.3M | -$96.5M | -$373.6M | -$138.3M | -$96.8M | -$106.4M | -$51.7M | — |
| Income tax | $2.9M | $537.0K | $523.0K | $305.0K | $2.8M | $375.0K | $1.0K | — |
| Net income | -$60.4M | -$97.0M | -$374.1M | -$138.6M | -$94.0M | -$106.8M | -$51.7M | — |
| EPS, basic | -1.07 | -2.08 | -10.10 | -7.79 | -0.70 | -5.98 | -6.99 | — |
| EPS, diluted | -1.07 | -2.08 | -10.10 | -7.79 | -0.70 | -5.98 | -6.99 | — |
| Shares, diluted (wtd. avg.) | $56.3M | $46.6M | $37.0M | $17.8M | $133.9M | $17.9M | $7.4M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $67.4M | $45.5M | $52.6M | $124.3M | $182.6M | $11.4M | $18.4M | $15.6M |
| Short-term investments | $141.2M | $126.5M | $139.2M | $0 | — | — | — | — |
| Receivables | $27.8M | $17.9M | $14.6M | $11.2M | $10.7M | $2.3M | — | — |
| Inventory | $23.6M | $16.4M | $23.2M | $19.5M | $7.4M | $4.8M | — | — |
| Total current assets | $278.9M | $219.9M | $263.2M | $162.5M | $207.4M | $21.2M | — | — |
| Property, plant and equipment | $31.9M | $10.2M | $10.2M | $9.7M | $10.1M | $9.7M | — | — |
| Goodwill | — | — | $0 | $51.2M | $51.1M | $0 | — | — |
| Other intangibles | $13.3M | $17.8M | $24.4M | $18.2M | $22.7M | $0 | — | — |
| Total assets | $349.5M | $276.1M | $330.7M | $256.1M | $307.7M | $46.4M | — | — |
| Accounts payable | $20.0M | $6.3M | $3.5M | $8.8M | $4.9M | $6.9M | — | — |
| Total current liabilities | $71.0M | $78.4M | $81.7M | $29.5M | $22.1M | $20.9M | — | — |
| Long-term debt | — | $0 | $44.0M | $39.6M | $0 | — | — | — |
| Total liabilities | $87.8M | $95.2M | $151.1M | $84.5M | $47.0M | $83.1M | — | — |
| Retained earnings | -$973.4M | -$913.1M | -$816.0M | -$441.9M | -$303.4M | -$209.4M | — | — |
| Total equity | $261.7M | $180.9M | $179.7M | $171.6M | $260.7M | -$75.9M | -$100.3M | -$50.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$40.0M | -$33.7M | -$137.9M | -$110.7M | -$71.1M | -$42.1M | -$40.2M | — |
| Depreciation and amortisation | $7.8M | $9.8M | $17.1M | $9.5M | $5.5M | $3.7M | $2.0M | — |
| Stock-based compensation | $40.8M | $40.5M | $57.7M | $33.3M | $25.4M | $12.1M | $1.2M | — |
| Capital expenditure | $24.9M | $3.8M | $3.0M | $5.4M | $4.3M | $3.5M | $7.5M | — |
| Investing cash flow | -$36.3M | $14.7M | $50.6M | -$5.1M | -$15.2M | -$3.5M | -$7.5M | — |
| Financing cash flow | $97.6M | $15.4M | $15.7M | $55.6M | $258.3M | $39.9M | $50.5M | — |
| Buybacks | — | — | $0 | $45.0K | $45.0K | $0 | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-017433.
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