OUST earnings analysis
What we found in OUST's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Ouster, Inc. reported Q1 2026 revenues of $48.6 million, marking a robust 49% increase from $32.6 million year-over-year, primarily driven by increased sensor volume sales. However, the company posted a loss of $0.28 per share, missing the analyst estimate of a $0.15 loss. Guidance for Q2 indicates expected revenue between $49.5 million and $52.5 million, suggesting continued growth despite numerous operational challenges.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth Exceeds Estimates
- Reported revenue of $48.6 million, up 49% year-over-year, exceeding estimates of $46.1 million.
- Improved Gross Margin
- Gross margin improved to 43% from 41% year-over-year, aided by increased sensor volumes.
- Strong Performance in Americas Region
- Americas revenue surged to $32.8 million, a significant 111% increase from $15.5 million in Q1 2025.
- Interest Income Increase
- Interest income rose by 45% to $2.5 million, up from $1.7 million in Q1 2025.
- Cash Position Strong
- Cash, cash equivalents, and short-term investments totaled $174.9 million as of March 31, 2026.
- Market Adoption Growing
- Management noted that lidar solutions are approaching an inflection point of adoption in target end markets.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Continued Net Losses
- Net loss for Q1 2026 was $17.5 million, compared to $22.0 million in Q1 2025.
- Negative Cash Flows Persisting
- Operating cash flow usage increased to $7.3 million from $4.9 million in the prior year.
- Margin Pressure from Tariffs
- Increased manufacturing costs and tariffs expected to pressure margins in upcoming quarters.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.28
- Gross margin
- 43%
What they said about what is next.
Management expects Q2 2026 revenue to be between $49.5 million and $52.5 million.
The filing reads better than the one before it.
What came before.
- 10-K · March 2, 2026
- Ouster describes a strategy of a unified sensing and perception platform combining digital lidar, cameras, AI compute, sensor fusion and perception software, and edge/cloud applications. Financially the business shows a…
- 10-Q · August 11, 2025
- Ouster reported Q2 revenue of $35,049,000 (up $8,059,000 or ~29.9% year-over-year and up $2,417,000 or ~7.4% sequentially) with gross margin expanding to 45.2% from 33.7% a year ago. Despite revenue and margin…
- 10-Q · November 8, 2024
- Ouster reported Q3 2024 revenue of $28,075,000 and GAAP diluted loss per share of $(0.54). Revenue and gross profit improved materially year-over-year (Q3 2024 revenue up from $22,209,000; gross profit up to…
- 10-K · March 28, 2024
- Ouster positions itself as a software-defined lidar leader offering two digital product lines (OS scanning and DF solid-state) after completing the Velodyne merger on February 10, 2023. The company emphasizes a large…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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