Hulk Hogan, wrestling icon, dies at 71 in Florida home
SAN FRANCISCO - Ouster, Inc. (NASDAQ:OUST), a provider of high-performance lidar sensors and software solutions, saw its shares jump 7.9% after reporting fourth-quarter 2024 results that exceeded analyst expectations and provided upbeat guidance for the first quarter of 2025.
The company reported revenue of $30 million for the fourth quarter, beating the consensus estimate of $29.75 million and representing a 23% increase YoY. However, Ouster posted a wider-than-expected loss of -$0.48 per share, missing analyst projections of -$0.35 per share.
For the first quarter of 2025, Ouster forecasts revenue between $30 million and $32 million, surpassing the consensus estimate of $30.66 million at the midpoint. This strong outlook appears to be driving investor optimism.
"The fourth quarter capped off a year of consistent execution, record financial results, and delivering increased value for our customers," said Ouster CEO Angus Pacala. "In 2024, we grew OS sensor volumes by over 50%, increased our software-attached bookings by over 60%, and deployed sensors at iconic events like the Paris Olympics."
Ouster shipped over 4,800 sensors in the fourth quarter, primarily to customers in the robotics and automotive sectors for applications such as robotaxis, mapping, and last-mile delivery. The company’s GAAP gross margin improved significantly to 44%, up from 22% in the same quarter last year.
For the full year 2024, Ouster reported revenue of $111 million, a 33% increase compared to 2023. The company ended the year with $175 million in cash, cash equivalents, restricted cash, and short-term investments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.