Execution on Product Roadmap: Ouster continued to execute on its product roadmap, dominated by the
October launch of its newest OS digital lidar sensors, REV7, powered by its next-generation L3 chip. REV7 features the all-new OSDome sensor, as well as upgraded OS0, OS1, and OS2 sensors that deliver double
the range, enhanced object detection, increased precision and accuracy, and greater reliability. The new REV7 sensors are the highest-performing family of sensors on the market and offer performance upgrades that more than double the Companys
collective serviceable obtainable market (SOM), driven by new opportunities for longer-range and mapping applications.
Benefits from the REV7
performance upgrades will support Ousters recently released 3D industrial digital lidar sensor suite configured to meet the unique requirements of forklift, port equipment, and autonomous mobile robot manufacturers with high volume pricing
that enables adoption on production fleets. The advancements in the L3 architecture pave the way for Ousters upcoming Chronos chip, the automotive-grade, fully custom digital lidar silicon receiver that will power its DF solid-state sensor
suite, and is slated to be integrated into the first Digital Flash (DF) units in 2023.
Ouster had a terrific quarter, and continued to see
commercial growth across key verticals where digital lidar is a critical enabler for advanced automation and intelligence, said Ouster CEO Angus Pacala. The launch of REV7, powered by the L3 chip, is our most important yet: Ouster now
offers the highest-performing family of sensors on the market with double the range, a 50% increase in precision, and even better reliability. We expect our new products to drive faster growth across each of our verticals, particularly within the
submarkets for AVs, warehouse automation, mapping, security and crowd analytics.
2022 Outlook
Ouster reiterated its FY 2022 revenue guidance4 of $40 million to $55 million and its gross
margin target of 25% to 30%.
Together with Velodyne, we expect to unlock significant synergies, creating a company with the scale and resources to
deliver stronger solutions for customers and society, while accelerating time to profitability and enhancing value for shareholders, said Ouster CFO Anna Brunelle. Through our complementary customer base, partners, and distribution
channels, coupled with reduced product costs, we can accelerate lidar adoption across fast-growing end markets by further expanding our SOM, and augmenting or displacing other sensing technologies.
Conference Call Information
Ouster will host a
conference call and live webcast for analysts and investors at 5 p.m. EST today, November 7, 2022, to discuss its financial results and business outlook. To access the call, please register at
https://conferencingportals.com/event/ERDXYEAl.
Upon registering, each participant will be provided with call details and a registrant ID. The
webcast and related presentation materials will be accessible for at least 30 days on Ousters investor relations website at https://investors.ouster.com. A telephonic replay of the conference call will be available through
November 21, 2022. To access the replay, please dial (800) 770-2030 from the U.S. or (647) 362-9199 from outside the U.S. and enter the conference ID number: 93428.
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FY 2022 guidance does not reflect any contribution from the planned merger of equals |
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