Record Financial Results and Revenue Growth
Ouster generated $30 million in revenue for the fourth quarter, marking the eighth consecutive quarter of revenue growth. The company reported a full-year revenue of $111 million, a 33% increase year-over-year.
Strong Gross Margins
The fourth quarter gross margin improved to 44%, with a full-year margin of 36%, aligning with the long-term target range of 35% to 40%.
Significant Software Growth
Software attached bookings grew by over 60% in 2024 compared to 2023, contributing a double-digit percentage of total bookings each quarter.
Largest Software Deal Ever
Ouster secured its largest software deal with a leading global technology company, renewing its Ouster Gemini annual license for over $1 million per year.
Strong Balance Sheet
Ouster ended the year with $175 million in cash and equivalents and zero debt, maintaining one of the strongest balance sheets in the industry.
Major Contract in Intelligent Transportation Systems
Ouster won a $2 million contract to deploy Blue City traffic management solution in Chattanooga, Tennessee, marking the largest deployment of lidar detection technology for traffic and pedestrian safety in the U.S.