Ouster Announces Preliminary Fourth Quarter 2023 Revenue Results
09 Januar 2024 - 2:00PM
Business Wire
Expects Q4 2023 revenue to be at or above the
midpoint of the previous guidance range
Ouster, Inc. (NYSE: OUST) (“Ouster” or the “Company”), a leading
provider of high-performance lidar sensors for the automotive,
industrial, robotics, and smart infrastructure industries,
announced today that based on preliminary results, the Company
expects fourth quarter 2023 revenue to be at or above the midpoint
of the guidance range of $23 to $25 million previously provided on
November 9, 2023.
“Ouster ended the year on a high note, and I am pleased to
announce that we expect our fourth quarter revenues to be in the
upper half of guidance. The Ouster team is delivering on its
strategy of enabling autonomous solutions across a wide range of
use cases such as industrial, robotaxi, mapping, and smart city. We
see continued momentum as the value proposition and performance of
our product portfolio resonates with our customers,” said Ouster
CEO Angus Pacala.
The Company expects to report Q4 2023 earnings results in March
2024.
About Ouster
Ouster (NYSE: OUST) is a leading global provider of
high-resolution scanning and solid-state digital lidar sensors,
Velodyne Lidar sensors, and software solutions for the automotive,
industrial, robotics, and smart infrastructure industries. Ouster
is on a mission to build a safer and more sustainable future by
offering affordable, high-performance sensors that drive mass
adoption across a wide variety of applications. Ouster is
headquartered in San Francisco, CA with offices in the Americas,
Europe, Asia-Pacific, and the Middle East. For more information,
visit www.ouster.com, or connect with us on Twitter or
LinkedIn.
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
“anticipate,” “expect,” “project,” “intend,” “believe,” “may,”
“will,” “should,” “plan,” “could,” “may,” “continue,” “target,”
“contemplate,” “estimate,” “forecast,” “guidance,” “predict,”
“possible,” “potential,” “pursue,” “likely,” 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 historical facts, including statements regarding Ouster’s
revenue guidance; its business objectives, plans, strategic
partnerships and market growth 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’s limited operating history and history of
losses; the negotiating power and product standards of its
customers; fluctuations in its operating results; its ability to
successfully integrate its business with Velodyne and achieve the
anticipated benefits of the Velodyne merger; supply chain
constraints and challenges; cancellation or postponement of
contracts or unsuccessful implementations; the ability of its lidar
technology roadmap and new software solutions to catalyze growth;
the adoption of its products and the growth of the lidar market
generally; Ouster’s ability to grow its sales and marketing
organization; substantial research and development costs needed to
develop and commercialize new products; the competitive environment
in which Ouster operates; selection of Ouster’s products for
inclusion in target markets; Ouster’s future capital needs and
ability to secure additional capital on favorable terms or at all;
its ability to use tax attributes; Ouster’s dependence on key third
party suppliers, in particular Benchmark Electronics, Inc.,
Fabrinet, and other suppliers; Ouster’s ability to maintain
inventory and the risk of inventory write-downs; inaccurate
forecasts of market growth; Ouster’s ability to manage growth and
recognize anticipated cost savings; the creditworthiness of
Ouster’s customers; risks related to acquisitions; risks related to
international operations; risks of product delivery problems or
defects; costs associated with product warranties; Ouster’s ability
to maintain competitive average selling prices or high sales
volumes or reduce product costs; conditions in its customers’
industries; Ouster’s ability to recruit and retain key personnel;
Ouster’s ability to adequately protect and enforce its intellectual
property rights, including as relates to Hesai Group; Ouster’s
ability to effectively respond to evolving regulations and
standards; risks related to operating as a public company; and
other important factors discussed in the Company’s Annual Report on
Form 10-K for the year ended December 31, 2022, that are further
updated from time to time in the Company’s 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’s
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.
The preliminary estimates in this press release are based on the
information available to us at this time. The Company expects that
its actual results to be reported for the fourth quarter will not
differ materially from these preliminary results, however, our
actual results may vary from the estimated preliminary results
presented here due to the completion of our financial closing and
review procedures, the execution of our internal control over
financial reporting, final adjustments and other developments that
may arise between now and the time the financial results for the
fourth quarter and fiscal year ended December 31, 2023 are
finalized. The estimated preliminary financial results have not
been audited or reviewed by our independent registered public
accounting firm. These estimates should not be viewed as a
substitute for our full interim or annual financial statements.
Accordingly, you should not place undue reliance on this
preliminary data.
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