Ouster(US:OUST)2025-05-08 20:24Revenue Performance - Revenue for Q1 2025 was $33 million, representing a 26% increase year-over-year and an 8% increase sequentially[5]. - For Q2 2025, the company expects revenue to be between $32 million and $35 million[4]. - The patent royalty contributed approximately $2 million to revenue and positively impacted gross margins by approximately 300 basis points[3]. Profitability and Margins - GAAP gross margin improved to 41%, up approximately 1,200 basis points year-over-year, while non-GAAP gross margin increased to 46%, up approximately 1,000 basis points year-over-year[3]. - The company's gross profit on a GAAP basis increased to $13,483,000 in Q1 2025, compared to $7,425,000 in Q1 2024, reflecting a growth of 81.5%[27]. - Non-GAAP gross profit reached $15,077,000 in Q1 2025, up from $9,374,000 in Q1 2024, indicating a year-over-year increase of 60.5%[27]. - The gross margin on a GAAP basis improved to 41% in Q1 2025, compared to 29% in Q1 2024, while the non-GAAP gross margin rose to 46% from 36%[27]. Net Loss and Adjusted EBITDA - Net loss for Q1 2025 was $22 million, an improvement from a net loss of $24 million in Q1 2024[5]. - Ouster, Inc. reported a net loss of $22,017,000 for Q1 2025, an improvement from a net loss of $23,849,000 in Q1 2024, representing a decrease of approximately 7.7%[24]. - Adjusted EBITDA for Q1 2025 was reported at $(7,810,000), an improvement from $(11,743,000) in Q1 2024, indicating a reduction in losses of approximately 33.5%[26]. Cash and Investments - Cash, cash equivalents, restricted cash, and short-term investments totaled $171 million as of March 31, 2025[5]. - Cash, cash equivalents, and restricted cash at the end of the period stood at $56,550,000, an increase from $49,925,000 at the end of Q1 2024[24]. - Ouster, Inc. generated $12,590,000 in net cash from investing activities in Q1 2025, compared to a net cash used of $469,000 in Q1 2024[24]. - Net cash used in operating activities was $4,879,000 for Q1 2025, a slight improvement from $5,722,000 in Q1 2024[24]. Assets and Liabilities - Total current assets as of March 31, 2025, were $218.6 million, slightly down from $219.9 million at the end of 2024[17]. - Total liabilities increased to $100.6 million as of March 31, 2025, compared to $95.2 million at the end of 2024[17]. - The company experienced a significant increase in accounts payable, which rose to $4,120,000 in Q1 2025 from $2,636,000 in Q1 2024, reflecting a growth of 56.4%[24]. Operational Highlights - The company shipped approximately 4,700 sensors during the quarter, indicating strong demand primarily from the industrial and automotive sectors[5]. - The company continues to focus on mitigating disruptions from geopolitical and macroeconomic factors while expanding its customer base[3]. - The company reported a total stock-based compensation expense of $8,498,000 in Q1 2025, down from $9,404,000 in Q1 2024[26].