Ouster(OUST) - 2025 Q3 - Quarterly Results

Financial Performance - Ouster achieved quarterly revenue of $39.5 million, representing a 41% year-over-year increase and a 13% sequential increase[4] - Revenue for Q3 2025 was $39,525,000, a 41% increase from $28,075,000 in Q3 2024[19] - The net loss for the quarter was $22 million, an improvement of $4 million year-over-year[7] - Net loss for Q3 2025 was $21,733,000, an improvement from a net loss of $25,590,000 in Q3 2024[19] - Total operating expenses for Q3 2025 were $40,910,000, up from $38,262,000 in Q3 2024[19] - Adjusted EBITDA for the nine months ended September 30, 2025, was $(23,029,000), an improvement from $(32,110,000) in the same period of 2024[23] - Cash used in operating activities for the nine months ended September 30, 2025, was $(24,530,000), an improvement from $(31,133,000) in the same period of 2024[21] Gross Margin - GAAP gross margin was 42%, up 400 basis points year-over-year but down 300 basis points sequentially[5] - Non-GAAP gross margin increased to 47%, up 300 basis points year-over-year and down 400 basis points sequentially[7] - The gross margin on a non-GAAP basis for Q3 2025 was 47%, compared to 45% in Q3 2024[24] Cash and Investments - Cash, cash equivalents, restricted cash, and short-term investments totaled $247 million as of September 30, 2025[7] - Cash, cash equivalents, and restricted cash at the end of Q3 2025 totaled $89,766,000, compared to $46,719,000 at the end of Q3 2024[21] Product Development and Market Demand - The company is focused on developing next-generation products and increasing software-attached sales[3] - Significant demand was noted from customers in smart infrastructure, robotics, and industrial verticals[4] Future Outlook - Ouster expects fourth quarter revenue to be between $39.5 million and $42.5 million[6] - Ouster will participate in the Northland Growth Conference on December 16, 2025[8] Sensor Shipments - The company shipped a record 7,200 sensors during the third quarter, significantly contributing to revenue growth[3] Other Income and Expenses - Stock-based compensation expense for Q3 2025 was $11,829,000, compared to $11,519,000 in Q3 2024[23] - The company reported a total other income of $2,590,000 for Q3 2025, compared to $1,881,000 in Q3 2024[19]