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Ouster
(NASDAQ:OUST)
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Rating:61Neutral
Price Target:
$48.00
▲(41.01% Upside)
Action:Reiterated
Date:08/07/26
The score is driven by improving fundamentals and a strong balance sheet backdrop (low leverage, scaling revenue and better gross margins), plus constructive technical momentum with the stock trading above key moving averages. These positives are tempered by persistent losses and sizable negative free cash flow, and by earnings-call notes that recent margin strength included non-recurring benefits while expenses are rising; valuation is also less supportive due to negative earnings and no dividend.
Positive Factors
Product Leadership
Rev8 and ZED X Nano represent material product differentiation: native-color lidar and compact stereo cameras broaden addressable markets and improve win rates. Durable design wins and large initial orders support multi-quarter scaling, recurring sensor demand, and stronger long-term customer integration.
Negative Factors
Cash Burn
Persistent negative operating and free cash flow indicate ongoing cash consumption beyond accounting losses. Absent sustained margin expansion or material contract conversions, the company may need additional capital or to sharply reduce spend, creating execution and dilution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Product Leadership
Rev8 and ZED X Nano represent material product differentiation: native-color lidar and compact stereo cameras broaden addressable markets and improve win rates. Durable design wins and large initial orders support multi-quarter scaling, recurring sensor demand, and stronger long-term customer integration.
Read all positive factors
Ouster Key Performance Indicators (KPIs)
Any
Revenue by Geography
How revenue splits across regions reveals where Ouster's growth is coming from and where it is exposed to local demand shifts, regulatory or trade risks, and currency swings. Heavy concentration in one geography increases business and supply‑chain risk, while broader geographic penetration points to diversified demand for Ouster's lidar sensors and services and larger long‑term growth opportunities.
How revenue splits across regions reveals where Ouster's growth is coming from and where it is exposed to local demand shifts, regulatory or trade risks, and currency swings. Heavy concentration in one geography increases business and supply‑chain risk, while broader geographic penetration points to diversified demand for Ouster's lidar sensors and services and larger long‑term growth opportunities.
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The Fly
The FlyOuster (OUST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.48B
Dividend YieldN/A
Average Volume (3M)4.77M
Price to Earnings (P/E)―
Beta (1Y)2.50
Revenue Growth57.34%
EPS Growth50.64%
CountryUS
Employees320
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.85
Shares Outstanding63,672,950
10 Day Avg. Volume3,608,891
30 Day Avg. Volume4,768,164
Financial Highlights & Ratios
PEG Ratio0.42
Price to Book (P/B)4.66
Price to Sales (P/S)7.20
P/FCF Ratio-18.80
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$61.25Price Target Upside79.94% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.47
Revenue Forecast (FY)$220.53M
Ouster Business Overview & Revenue Model
Company Description
Ouster, Inc. engages in the production and sale of lidar sensor kits for the automotive, industrial, robotics, and smart infrastructure industries in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers the Outer...
How the Company Makes Money
Ouster primarily makes money by selling lidar hardware and associated software/products to commercial and industrial customers (and, to a more limited extent depending on program status, automotive/transportation customers). Key revenue streams ty...
Ouster Earnings Call Summary
Earnings Call Date:Aug 06, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call presented a strong set of operational and commercial highlights — record revenue, record sensor shipments, breakthrough product introductions (Rev8, ZED X Nano), large-scale deployments, strategic partnerships, and a significantly strengthened balance sheet following recent financings. However, several near-term cautions were emphasized including non-recurring items that boosted reported margin, continued negative adjusted EBITDA, rising operating expenses, and execution risks associated with ramping Rev8 and Stereolabs capacity. On balance, the positive indicators (robust revenue growth, product momentum, strong cash position, and clear go-to-market traction) materially outweigh the lowlights, which are largely execution and non-recurring comparability considerations.Positive Updates
Record Revenue and Unit Growth
Revenue of $55.0M in Q2 2026, up ~56% year-over-year; shipped a quarterly record of over 17,000 sensors (including >9,000 lidar and >8,000 camera sensors). This was the company's 14th straight quarter of product revenue growth.
Negative Updates
Non-Recurring Items Affecting Margin Comparability
Management disclosed a one-time refund included in cost of goods sold that positively impacted gross margin by ~1,000 basis points; noted the prior year also included a one-time refund (~500 bps). These are non-recurring and complicate comparisons of the reported 49% GAAP gross margin.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Revenue and Unit Growth
Revenue of $55.0M in Q2 2026, up ~56% year-over-year; shipped a quarterly record of over 17,000 sensors (including >9,000 lidar and >8,000 camera sensors). This was the company's 14th straight quarter of product revenue growth.
Read all positive updates
Company Guidance
Ouster guided third-quarter 2026 revenue of $54.5M–$57.5M, reiterated unchanged full‑year revenue expectations, and said Rev8 production volumes will ramp throughout and into the latter part of Q3; they continue to expect total 2026 royalty revenue of ~ $5M (Q2 royalty ≈ $1.9M; H1 ≈ $2.2M). Management also said Q3 GAAP operating expenses are anticipated to be 5%–8% higher year‑over‑year. For context, Q2 results included $55M revenue (≈+56% YoY), shipments of >17,000 sensors (≈9,000 lidars and ≈8,000 cameras), GAAP gross margin of 49% (helped by a one‑time COGS refund of ~1,000 bps), Adjusted EBITDA of −$4M (≈$1M improvement YoY), cash/short‑term investments of $263M (including ≈$98M ATM proceeds) and a subsequent ~$191M net equity raise (≈72M shares outstanding), and management said they do not expect to need additional capital to fund the current plan; manufacturing capacity for Rev8 with Benchmark is planned to exceed 100,000 units/year.Ouster Financial Statement Overview
Summary
Income Statement
48
Neutral
Balance Sheet
72
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 204.91M | 169.38M | 111.10M | 83.28M | 41.03M | 33.58M |
| Gross Profit | 101.63M | 83.44M | 40.46M | 9.68M | 10.93M | 9.09M |
| EBITDA | -35.98M | -50.42M | -79.94M | -342.62M | -123.38M | -88.69M |
| Net Income | -53.33M | -60.38M | -97.05M | -374.11M | -138.56M | -93.98M |
Balance Sheet | ||||||
| Total Assets | 474.82M | 349.52M | 276.15M | 330.74M | 256.14M | 307.70M |
| Cash, Cash Equivalents and Short-Term Investments | 261.08M | 208.59M | 172.02M | 190.15M | 122.93M | 183.62M |
| Total Debt | 16.40M | 17.08M | 20.25M | 69.90M | 56.20M | 19.27M |
| Total Liabilities | 103.51M | 87.78M | 95.24M | 151.07M | 84.52M | 47.00M |
| Stockholders Equity | 371.31M | 261.74M | 180.91M | 179.67M | 171.62M | 260.70M |
Cash Flow | ||||||
| Free Cash Flow | -92.31M | -64.85M | -37.45M | -140.90M | -116.11M | -74.84M |
| Operating Cash Flow | -61.09M | -39.96M | -33.69M | -137.89M | -110.69M | -70.56M |
| Investing Cash Flow | -55.33M | -36.25M | 14.65M | 50.60M | -5.15M | -15.23M |
| Financing Cash Flow | 141.41M | 97.61M | 15.39M | 15.66M | 55.60M | 257.80M |
Ouster Technical Analysis
Positive
34.04
Price Trends
42.64
Positive
34.18
Positive
28.92
Positive
Market Momentum
0.47
Negative
53.22
Neutral
78.99
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OUST, the sentiment is Positive. The current price of 34.04 is below the 20-day moving average (MA) of 38.87, below the 50-day MA of 42.64, and above the 200-day MA of 28.92, indicating a bullish trend. The MACD of 0.47 indicates Negative momentum. The RSI at 53.22 is Neutral, neither overbought nor oversold. The STOCH value of 78.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for OUST.
Ouster Risk Analysis
Ouster disclosed 64 risk factors in its most recent earnings report. Ouster reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Ouster Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $2.21B | 71.37 | 2.61% | ― | 4.90% | ― | |
71 Outperform | $9.56B | 65.01 | 19.83% | ― | 24.95% | 120.02% | |
69 Neutral | $3.76B | 67.99 | 8.40% | 0.10% | 25.26% | -2.96% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $2.48B | -40.64 | -18.45% | ― | 57.34% | 50.64% | |
57 Neutral | $2.70B | 35.85 | 17.37% | ― | 11.97% | ― | |
45 Neutral | $93.17M | -0.87 | -139.20% | ― | -64.10% | 31.45% |
* Technology Sector Average
OUST
Ouster
43.40
15.52
55.67%
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3.39
-13.57
-80.03%
ROG
Rogers
134.49
64.64
92.54%
VICR
Vicor
221.20
174.92
377.96%
PENG
Penguin Solutions
58.43
35.06
150.02%
BELFA
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233.55
122.02
109.40%
Ouster Corporate Events
Private Placements and FinancingRegulatory Filings and Compliance
Ouster Raises $192 Million in Completed Stock Offering
Positive
Jul 6, 2026
On July 2, 2026, Ouster, Inc. entered into an underwriting agreement with Northland Securities, Inc. to sell 3,621,876 shares of its common stock at a public offering price of $55.22 per share, with an additional 30-day option for the underwriter ...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and ComplianceShareholder Meetings
Ouster Expands Authorized Shares After Shareholder Approvals
Neutral
Jun 18, 2026
At its June 17, 2026 annual meeting, Ouster stockholders approved doubling the company’s authorized common shares from 100 million to 200 million, and the amendment to the Certificate of Incorporation became effective the same day upon filin...
Business Operations and StrategyPrivate Placements and Financing
Ouster Launches $100 Million At-The-Market Offering
Neutral
May 8, 2026
On May 8, 2026, Ouster, Inc. entered into a sales agreement with a syndicate of brokers that allows the company to issue and sell up to $100 million of its common stock in an at-the-market equity offering, with the agents earning up to a 3% commis...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.