Ouster (OUST)
NASDAQ:OUST
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Ouster
(NASDAQ:OUST)
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Rating:47Neutral
Price Target:
$19.00
▼(-1.71% Downside)
Action:ReiteratedDate:03/04/26
The score is primarily held back by continued losses and negative/free-cash-flow burn despite clear improvement in revenue growth and gross margins. Technical signals are weak-to-neutral, and valuation is constrained by negative earnings and no dividend support. Offsetting factors include positive execution commentary and guidance on the earnings call plus strategic upside from the StereoLabs acquisition, though near-term comparisons face reduced royalty benefits and higher integration expenses.
Positive Factors
Accelerating revenue and unit shipments
Sustained, multi-quarter product revenue growth and rising unit shipments indicate expanding commercial adoption and repeatable demand across end markets. This trend supports durable top-line scaling, strengthens channel momentum, and increases the likelihood of higher-volume, lower-unit-cost manufacturing over the next 2–6 months.
Negative Factors
Negative operating and free cash flow
Persistent cash burn indicates the business is not yet self-funding and requires financing or drawdown of reserves to support growth and integration costs. Even with a sizable cash balance, continued negative FCF raises execution and dilution risk if revenue or margin improvements slow versus plan.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating revenue and unit shipments
Sustained, multi-quarter product revenue growth and rising unit shipments indicate expanding commercial adoption and repeatable demand across end markets. This trend supports durable top-line scaling, strengthens channel momentum, and increases the likelihood of higher-volume, lower-unit-cost manufacturing over the next 2–6 months.
Read all positive factors
Ouster (OUST) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.21B
Dividend YieldN/A
Average Volume (3M)2.01M
Price to Earnings (P/E)―
Beta (1Y)2.42
Revenue Growth30.20%
EPS Growth35.80%
CountryUS
Employees292
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)0.20
Shares Outstanding62,803,990
10 Day Avg. Volume1,527,487
30 Day Avg. Volume2,011,370
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 Cap1.01
Enterprise Value/Revenue7.21
Enterprise Value/Gross Profit14.65
Enterprise Value/Ebitda-24.24
Forecast
1Y Price Target
$38.75Price Target Upside100.47% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)-0.31
Revenue Forecast (FY)$218.50M
Ouster Business Overview & Revenue Model
Company Description
Ouster, Inc. designs and manufactures high-resolution digital lidar sensors and enabling software that offers 3D vision to machinery, vehicles, robots, and fixed infrastructure assets. Its product portfolio includes OS, a scanning sensor and DF, a...
How the Company Makes Money
Ouster primarily makes money by selling lidar products and related offerings to customers and partners that integrate lidar into end systems. Key revenue streams include: (1) Lidar sensor hardware revenue from the sale of its digital lidar units i...
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.
Data provided by:
The Fly
The FlyOuster Earnings Call Summary
Earnings Call Date:Mar 02, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 05, 2026
Earnings Call Sentiment Positive
The call presented a largely positive operational and strategic picture: strong revenue and shipment growth, record bookings, product innovation, an expanded unified sensing platform via the StereoLabs acquisition, and a stronger balance sheet. However, some of the headline margin and profitability gains in Q4 were materially influenced by one-time royalties, and the company still reported a full-year adjusted EBITDA loss. Management expects royalty-related benefits to be modest in 2026 and flagged near-term operating expense growth for integration. Overall, execution momentum and strategic expansion outweigh the temporary and integration-related headwinds.Positive Updates
Quarterly Revenue and Product Revenue Growth
Q4 revenue of $62.0M, including $41.0M of product revenue (excluding royalties). Q4 product revenue grew 36% year-over-year; full year product revenue (excluding royalties) increased 32% year-over-year.
Negative Updates
One-Time Royalties Inflate Near-Term Results
Q4 royalties (~$21M) materially boosted GAAP gross margin (~20 percentage points in Q4) and drove the positive Q4 adjusted EBITDA; management expects royalties to be de minimis in 2026 (<$5M), which may reduce comparable near-term margin and EBITDA benefits.
Read all updates
Q4-2025 Updates
Positive
Negative
Quarterly Revenue and Product Revenue Growth
Q4 revenue of $62.0M, including $41.0M of product revenue (excluding royalties). Q4 product revenue grew 36% year-over-year; full year product revenue (excluding royalties) increased 32% year-over-year.
Read all positive updates
Company Guidance
Ouster guided first-quarter 2026 revenue of $45 million to $48 million (which includes roughly seven weeks of StereoLabs revenue following the Feb. 4 close), said total 2026 royalty revenue is expected to be less than $5 million (mostly back half) and reiterated long‑term targets of 30%–50% annual revenue growth and 35%–40% GAAP gross margin; it expects 2026 GAAP operating expense to grow 5%–8% versus full‑year 2025 ($157 million) with a similar quarterly expense profile to 2025, believes the combined 2026 revenue/margin profile will be in line with the pro‑forma 2025 baseline (FY2025 revenue $169M, including ~$23M royalties; 25k+ sensors shipped; $177M bookings; 1.2x book‑to‑bill; GAAP gross margin 49%), finished Q4 with $211M of cash, cash equivalents, restricted cash and short‑term investments (paid roughly $35M cash for StereoLabs), and says it has multi‑year runway (roughly 4–5 years to operating cash‑flow positivity) while pursuing a path to positive operating free cash flow and profitability.Ouster Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
58
Neutral
Cash Flow
30
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 169.38M | 111.10M | 83.28M | 41.03M | 33.58M |
| Gross Profit | 83.44M | 40.46M | 9.68M | 10.93M | 9.09M |
| EBITDA | -50.42M | -79.94M | -342.62M | -123.38M | -88.69M |
| Net Income | -60.38M | -97.05M | -374.11M | -138.56M | -93.98M |
Balance Sheet | |||||
| Total Assets | 349.52M | 276.15M | 330.74M | 256.14M | 307.70M |
| Cash, Cash Equivalents and Short-Term Investments | 208.59M | 172.02M | 190.15M | 122.93M | 183.62M |
| Total Debt | 17.08M | 20.25M | 69.90M | 56.20M | 19.27M |
| Total Liabilities | 87.78M | 95.24M | 151.07M | 84.52M | 47.00M |
| Stockholders Equity | 261.74M | 180.91M | 179.67M | 171.62M | 260.70M |
Cash Flow | |||||
| Free Cash Flow | -64.85M | -37.45M | -140.90M | -116.11M | -74.84M |
| Operating Cash Flow | -39.96M | -33.69M | -137.89M | -110.69M | -70.56M |
| Investing Cash Flow | -36.25M | 14.65M | 50.60M | -5.15M | -15.23M |
| Financing Cash Flow | 97.61M | 15.39M | 15.66M | 55.60M | 257.80M |
Ouster Technical Analysis
Negative
19.33
Price Trends
20.26
Negative
22.00
Negative
25.24
Negative
Market Momentum
-0.58
Positive
47.05
Neutral
59.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OUST, the sentiment is Negative. The current price of 19.33 is below the 20-day moving average (MA) of 20.32, below the 50-day MA of 20.26, and below the 200-day MA of 25.24, indicating a bearish trend. The MACD of -0.58 indicates Positive momentum. The RSI at 47.05 is Neutral, neither overbought nor oversold. The STOCH value of 59.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for OUST.
Ouster Risk Analysis
Ouster disclosed 65 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $7.25B | 41.35 | 18.74% | ― | 11.55% | 1745.46% | |
76 Outperform | $2.63B | 5.83 | 15.06% | 0.15% | 23.70% | 14.78% | |
68 Neutral | $1.92B | 91.57 | -5.07% | ― | -4.87% | -235.48% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $1.05B | 7.25 | 9.21% | ― | 10.76% | ― | |
47 Neutral | $1.21B | -20.19 | -26.89% | ― | 30.20% | 35.80% | |
45 Neutral | $182.84M | -2.38 | -137.37% | ― | -67.66% | 13.39% |
* Technology Sector Average
OUST
Ouster
19.33
11.92
160.86%
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0.60
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159.83
110.67
225.12%
PENG
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20.63
3.45
20.08%
BELFA
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196.85
129.01
190.19%
Ouster Corporate Events
Business Operations and StrategyM&A Transactions
Ouster Completes StereoLabs Acquisition, Expands Physical AI Platform
Positive
Feb 9, 2026
On February 4, 2026, Ouster closed its acquisition of StereoLabs SAS, a French pioneer in AI vision and perception solutions founded in 2010, and announced the deal on February 9, 2026. StereoLabs, which has shipped more than 90,000 ZED cameras to...
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.