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Ouster Announces Operating Results for Second Quarter 2025

Company exceeds guidance, ships record number of sensors, and delivers tenth straight quarter of revenue growth

SAN FRANCISCO--(BUSINESS WIRE)-- (Nasdaq: OUST) (鈥淥uster鈥� or the 鈥淐ompany鈥�), a global leader in high-performance lidar sensors and intelligent software solutions that bring Physical AI to life across the automotive, industrial, robotics and smart infrastructure sectors, announced today financial results for the three months ended June 30, 2025.

Second Quarter 2025 Highlights:

• $35 million in revenue, up 30% year over year and 7% sequentially;
• GAAP gross margin of 45%, up 1100bps year over year and 400bps sequentially;
• Net loss of $21 million, an improvement of $3 million year over year and $1 million sequentially;
• Non-GAAP gross margin¹ of 52%, up 1200bps year over year and 500bps sequentially;
• Adjusted EBITDA¹ loss of $6 million, an improvement of $5 million year over year and $2 million sequentially;
• Cash, cash equivalents, restricted cash, and short-term investments of $229 million as of June 30, 2025.

鈥淥uster achieved strong second quarter results above the high end of guidance and shipped a record 5,500 sensors, bringing Physical AI to life across logistics, industrial, and smart infrastructure sites around the world,鈥� said Ouster CEO Angus Pacala. 鈥淲e continue to make progress against each of our top priorities: advancing the development of our product portfolio, scaling our software-attached business, and executing towards profitability. We are well positioned for continued growth as we see customers successfully moving from prototype testing and into commercial production. Our story is just getting started, and we have the team, customers, and strategy to be a leader in Physical AI.鈥�

Revenue

Ouster delivered quarterly revenue of $35 million, an increase of 30% year over year and 7% sequentially. Demand was primarily driven by customers in the industrial and automotive verticals for use cases in warehouse automation, yard logistics, and robotaxis. The Company shipped over 5,500 sensors for revenue, a new quarterly record. The Company continues to work closely with customers to mitigate any disruptions resulting from the unpredictable geopolitical and macroeconomic environment.

Gross Margin

GAAP gross margin of 45%, an increase of 1100 basis points compared to 34% in the second quarter of 2024 and 400 basis points compared to 41% in the first quarter of 2025. Gross margin benefitted from higher revenues, product mix, and a favorable employment tax refund. Non-GAAP gross margin increased to 52%, an improvement of approximately 1200 basis points year over year and 500 basis points sequentially. Non-GAAP gross margin excludes the impact of stock-based compensation expenses and certain other items outside of ordinary operations.

Third Quarter 2025 Outlook

For the third quarter of 2025, Ouster expects to achieve $35 million to $38 million in revenue.

Upcoming Investor Events

Ouster management will participate in the following upcoming investor events:

• Oppenheimer 28th Annual Technology, Internet & Communications Conference 鈥� August 12, 2025 (Virtual)
• J.P. Morgan 2025 Auto Conference 鈥� August 13, 2025 (New York City)
• Rosenblatt 5th Annual Technology Summit 鈥� August 18, 2025 (Virtual)

Conference Call Information

Ouster will host a conference call and live webcast for analysts and investors at 5:00 p.m. ET today, August 7, 2025 to discuss its financial results and business outlook.

Interested parties may listen to a live webcast of the conference call. Registration for the webcast can be completed by visiting the following website: . The webcast will be available for replay for at least 30 days after the conference call on Ouster鈥檚 investor website at .

About Ouster

Ouster (Nasdaq: OUST) is a global leader in high-performance lidar sensors and intelligent software solutions that bring Physical AI to life across the automotive, industrial, robotics, and smart infrastructure sectors. Ouster鈥檚 technology delivers performance, reliability, and affordability to accelerate the adoption of autonomous systems at scale and drive meaningful improvements in safety, efficiency and sustainability. Ouster is headquartered in San Francisco, CA, with offices in the Americas, Europe, and Asia-Pacific. For more information about our products, visit , contact our , or connect with us on or .

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based upon current plans, estimates and expectations of management that are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Words such as 鈥渁nticipate,鈥� 鈥渆xpect,鈥� 鈥減roject,鈥� 鈥渋ntend,鈥� 鈥渂elieve,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渟hould,鈥� 鈥減lan,鈥� 鈥渃ould,鈥� 鈥渃ontinue,鈥� 鈥渢arget,鈥� 鈥渃ontemplate,鈥� 鈥渆stimate,鈥� 鈥渇orecast,鈥� 鈥済uidance,鈥� 鈥減redict,鈥� 鈥減ossible,鈥� 鈥減otential,鈥� 鈥減ursue,鈥� 鈥渓ikely,鈥� and the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. All statements, other than statements of historical fact, including statements regarding our future financial results and financial condition, our strategy, our market positioning, demand for our products, progress against our priorities, and future investor conference attendance, are forward-looking statements, all constitute forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including, but not limited to, risks related to Ouster鈥檚 limited operating history and history of losses; the substantial research and development costs needed to develop and commercialize new products; Ouster鈥檚 limited sales history and the ability to maintain confidence in the Company鈥檚 long-term business prospect among customers in target markets; fluctuations in its operating results; its ability to maintain competitive average selling prices, high sales volumes and reduce product costs; competition in Ouster鈥檚 industry; the negotiating power and product standards of its customers; the adoption of its products and the growth of the lidar market generally; product quality and liability risks; Ouster鈥檚 future capital needs and ability to secure additional capital on favorable terms or at all; market acceptance of lidar and Ouster鈥檚 forecasts for market growth; Ouster鈥檚 ability to manage growth, including growing the sales and marketing organization; risks related to international operations, including international manufacturing; cancellation or postponement of contracts or unsuccessful implementations; the Company鈥檚 ability to manage its inventory; credit risk of customers; Ouster鈥檚 ability to use tax attributes; Ouster鈥檚 dependence on key third party suppliers, in particular Benchmark Electronics, Inc., Fabrinet, and other suppliers; supply chain constraints and challenges; conditions in the industries the Company targets or the global economy; Ouster鈥檚 ability to recruit and retain key personnel; its ability to complete or achieve the anticipated benefits of new acquisitions or investments; changes to trade policy, tariffs, and import/export regulations may have a material adverse effect on Ouster鈥檚 business, financial condition and results of operations; risks related to the use of AI tools by us and others; Ouster鈥檚 ability to adequately protect and enforce its intellectual property rights; legal and regulatory risks; risks related to operating as a public company; and other important factors discussed in the Company鈥檚 Annual Report on Form 10-K for the year ended December 31, 2024, and updated by the Company鈥檚 Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025, once filed, and as may be further updated from time to time in the Company鈥檚 other filings with the SEC. Readers are urged to consider these factors carefully and in the totality of the circumstances when evaluating these forward-looking statements, and not to place undue reliance on any of them. Any such forward-looking statements represent management鈥檚 reasonable estimates and beliefs as of the date of this press release. While Ouster may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, other than as may be required by law, even if subsequent events cause its views to change.

In addition, see information below concerning non-GAAP financial measures.

Non-GAAP Financial Measures

In addition to its results determined in accordance with generally accepted accounting principles in the United States (鈥淕AAP鈥�), Ouster believes the non鈥慓AAP measures of Non-GAAP Gross Profit, Non-GAAP Gross Margin and Adjusted EBITDA are useful in evaluating its operating performance. Ouster calculates Non-GAAP Gross Profit as gross profit (loss) excluding amortization of acquired intangibles, certain excess and obsolete expenses and losses on firm purchase commitments, and stock-based compensation expense. Non-GAAP Gross Margin is calculated as Non-GAAP Gross Profit divided by revenues. Adjusted EBITDA is calculated as net loss excluding interest expense (income), net, other expense (income), net, stock-based compensation expense, provision for (benefit from) income taxes, certain excess and obsolete expenses and loss on firm purchase commitments, amortization of acquired intangibles, depreciation expense, certain litigation expenses and gain on lease termination. Ouster believes that Non-GAAP Gross Profit, Non-GAAP Gross Margin, and Adjusted EBITDA may be helpful to investors because it provides consistency and comparability with past financial performance and may be helpful in comparison with other companies, some of which use similar non鈥慓AAP information to supplement their GAAP results. Adjusted EBITDA is also used by the Board and management as a performance metric for compensation purposes. The non-GAAP financial information is presented for supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non鈥慓AAP measures used by other companies. Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP financial measures are included at the end of this press release.

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Source: Ouster, Inc.