Ouster, Inc. (OUST)
NASDAQ:OUST
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Ouster
(NASDAQ:OUST)
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Rating:57Neutral
Price Target:
$40.00
▲(64.88% Upside)
Action:Reiterated
Date:05/31/26
The score is driven down primarily by weak cash flow and ongoing losses despite strong revenue scaling and improving margins. Technicals and earnings-call momentum are supportive (strong uptrend, positive guidance and product/shipments traction), but valuation remains challenged given negative earnings and no dividend support.
Positive Factors
Revenue Scaling & Shipments
Sustained multi-quarter revenue growth and record quarterly shipments demonstrate repeatable commercial traction and demand across end markets. Persistent unit volume growth supports scaling economics, enabling fixed-cost absorption and a clearer path to durable operating leverage as deployments expand.
Negative Factors
Persistent Cash Burn
Consistently negative operating and free cash flows imply the business consumes cash to fund growth. Continued cash burn requires sustained access to capital or rapid margin improvement; if growth or margin expansion stalls, liquidity could erode and slow the path to self‑funded profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Scaling & Shipments
Sustained multi-quarter revenue growth and record quarterly shipments demonstrate repeatable commercial traction and demand across end markets. Persistent unit volume growth supports scaling economics, enabling fixed-cost absorption and a clearer path to durable operating leverage as deployments expand.
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
$2.44B
Dividend YieldN/A
Average Volume (3M)5.16M
Price to Earnings (P/E)―
Beta (1Y)2.33
Revenue Growth57.34%
EPS Growth50.64%
CountryUS
Employees292
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)-0.96
Shares Outstanding63,672,950
10 Day Avg. Volume5,085,019
30 Day Avg. Volume5,155,328
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 Cap1.17
Enterprise Value/Revenue15.49
Enterprise Value/Gross Profit31.62
Enterprise Value/Ebitda-60.66
Forecast
1Y Price Target
$49.00Price Target Upside101.98% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-0.5
Revenue Forecast (FY)$220.74M
Ouster Business Overview & Revenue Model
Company Description
Ouster, Inc. develops and produces advanced digital lidar sensors, coupled with proprietary software solutions. These technologies are engineered to grant three-dimensional perception to a diverse range of applications, including industrial machin...
How the Company Makes Money
Ouster primarily makes money by selling lidar hardware and associated solutions to commercial customers. The core revenue stream is product revenue from lidar sensors (its main line of digital lidar units) sold either directly to end customers or ...
Ouster Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call conveyed strong commercial momentum: record shipments and product revenue, robust gross margins, successful integration of the Stereolabs acquisition, and a major product milestone with Rev8 that is already shipping and showing broad customer interest. Key financials (adjusted EBITDA loss, higher operating expenses, and limited near-term royalty revenue) remain areas of focus, but management provided concrete near-term guidance and reiterated a multi-year path to profitability supported by a strong balance sheet ($175M cash, no debt). Overall, positives (growth, product innovation, customer traction, healthy liquidity) substantially outweigh the near-term operating and execution challenges.Positive Updates
Record Product Revenue & Shipments
Revenue of $49.0M in Q1 2026, a 49% year-over-year increase; 13th consecutive quarter of product revenue growth. Shipped over 12,600 sensors in the quarter (record), including a quarterly record of ~8,300 lidar units and ~4,300 camera sensors.
Negative Updates
Adjusted EBITDA and Ongoing Losses
Adjusted EBITDA remained negative at $7M in Q1 2026 (improved from negative $8M prior year), indicating profitability not yet achieved and continued operating losses in the near term.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Product Revenue & Shipments
Revenue of $49.0M in Q1 2026, a 49% year-over-year increase; 13th consecutive quarter of product revenue growth. Shipped over 12,600 sensors in the quarter (record), including a quarterly record of ~8,300 lidar units and ~4,300 camera sensors.
Read all positive updates
Company Guidance
Ouster guided Q2 2026 revenue of $49.5–$52.5 million and reiterated a long‑term financial framework targeting 30–50% annual revenue growth, GAAP gross margins of 35–40%, and GAAP operating expense growth of 5–8% versus 2025 (reflecting the Stereolabs acquisition); they expect 2026 total royalty revenue to be under $5 million (mostly in the back half) and said they are progressing toward positive operating free cash flow/profitability (management indicated this could be achieved around 2027). For context, Q1 results included $49.0 million revenue (with ~7 weeks of Stereolabs), a 43% GAAP gross margin (up 200 basis points YoY), GAAP operating expenses of $40 million (up 7% YoY, including $2.3M acquisition/integration charges), adjusted EBITDA of negative $7 million (ex‑acquisition charges), cash and short‑term investments of $175 million, and >12,600 sensors shipped in Q1 (≈8,300 lidars and ≈4,300 cameras) with lidar revenue growth of ~44% YoY.Ouster Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
72
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 185.33M | 169.38M | 111.10M | 83.28M | 41.03M | 33.58M |
| Gross Profit | 90.79M | 83.44M | 40.46M | 9.68M | 10.93M | 9.09M |
| EBITDA | -47.33M | -50.42M | -79.94M | -342.62M | -123.38M | -88.69M |
| Net Income | -55.83M | -60.38M | -97.05M | -374.11M | -138.56M | -93.98M |
Balance Sheet | ||||||
| Total Assets | 381.51M | 349.52M | 276.15M | 330.74M | 256.14M | 307.70M |
| Cash, Cash Equivalents and Short-Term Investments | 173.12M | 208.59M | 172.02M | 190.15M | 122.93M | 183.62M |
| Total Debt | 17.39M | 17.08M | 20.25M | 69.90M | 56.20M | 19.27M |
| Total Liabilities | 105.89M | 87.78M | 95.24M | 151.07M | 84.52M | 47.00M |
| Stockholders Equity | 275.62M | 261.74M | 180.91M | 179.67M | 171.62M | 260.70M |
Cash Flow | ||||||
| Free Cash Flow | -69.26M | -64.85M | -37.45M | -140.90M | -116.11M | -74.84M |
| Operating Cash Flow | -42.36M | -39.96M | -33.69M | -137.89M | -110.69M | -70.56M |
| Investing Cash Flow | -31.78M | -36.25M | 14.65M | 50.60M | -5.15M | -15.23M |
| Financing Cash Flow | 97.66M | 97.61M | 15.39M | 15.66M | 55.60M | 257.80M |
Ouster Technical Analysis
Neutral
24.26
Price Trends
30.31
Positive
25.61
Positive
26.45
Positive
Market Momentum
3.30
Positive
52.63
Neutral
22.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OUST, the sentiment is Neutral. The current price of 24.26 is below the 20-day moving average (MA) of 39.11, below the 50-day MA of 30.31, and below the 200-day MA of 26.45, indicating a neutral trend. The MACD of 3.30 indicates Positive momentum. The RSI at 52.63 is Neutral, neither overbought nor oversold. The STOCH value of 22.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $12.56B | 91.65 | 20.22% | ― | 15.59% | 491.65% | |
75 Outperform | $3.87B | 62.21 | 12.97% | 0.15% | 25.54% | 17.25% | |
65 Neutral | $2.97B | 56.05 | 9.21% | ― | 2.27% | ― | |
64 Neutral | $2.45B | -45.25 | -4.66% | ― | 1.68% | -431.99% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | $2.44B | -42.52 | -22.20% | ― | 57.34% | 50.64% | |
44 Neutral | $121.57M | -1.24 | -139.20% | ― | -64.10% | 31.45% |
* Technology Sector Average
OUST
Ouster
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88.56%
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Ouster Corporate Events
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.