false 0001816581 0001816581 2023-11-09 2023-11-09 0001816581 us-gaap:CommonStockMember 2023-11-09 2023-11-09 0001816581 oust:WarrantsToPurchaseCommonStockMember 2023-11-09 2023-11-09 0001816581 oust:WarrantsToPurchaseCommonStockExpiring2025Member 2023-11-09 2023-11-09





Washington, D.C. 20549









Date of Report (Date of earliest event reported): November 9, 2023



Ouster, Inc.

(Exact name of registrant as specified in its charter)




Delaware   001-39463   86-2528989

(State or other jurisdiction

of incorporation)



File Number)


(IRS Employer

Identification No.)

350 Treat Avenue

San Francisco, California 94110

(Address of principal executive offices) (Zip Code)

(415) 949-0108

(Registrant’s telephone number, including area code)


(Former name or former address, if changed since last report)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


Written communications pursuant to Rule 425 under the Securities Act


Soliciting material pursuant to Rule 14a-12 under the Exchange Act


Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act


Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

Securities registered pursuant to Section 12(b) of the Act:


Title of each class





Name of each exchange

on which registered

Common stock, $0.0001 par value per share   OUST   New York Stock Exchange
Warrants to purchase common stock   OUST WS   New York Stock Exchange
Warrants to purchase common stock expiring 2025   OUST WSA   NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




Item 2.02.

Results of Operations and Financial Condition.

On November 9, 2023, Ouster, Inc. (the “Company”) announced financial results for the three and nine months ended September 30, 2023. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Item 2.02 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.


Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits.




99.1*    Press Release, dated November 9, 2023.
104    Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document



Furnished herewith.


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


    Ouster, Inc.
Date: November 9, 2023     By:  

/s/ Mark Weinswig

    Name:   Mark Weinswig
    Title:   Chief Financial Officer

Exhibit 99.1

Ouster Exceeds Q3 2023 Revenue Guidance; Achieves Over $120 Million in

Annualized Cost Savings; Sets Financial Framework to Help Reach Profitability

Over $22 million in revenue and bookings of $38 million in the third quarter 2023

Achieved over $120 million in annualized cost savings, one quarter ahead of schedule

Announced targets for revenue growth, expanding gross margins, and additional cost management

SAN FRANCISCO, CA – Ouster, Inc. (NYSE: OUST) (“Ouster” or the “Company”), a leading provider of high-performance lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries, announced today financial results for the three and nine months ended September 30, 20231.

Third Quarter 2023 Highlights



Over $22 million in revenue, up 15% quarter over quarter.



Booked2 $38 million in business with new and existing customers, representing a book-to-bill ratio of 1.7x.



GAAP gross margins of 14%, compared to 1% in the second quarter of 2023.



Non-GAAP gross margins3 of 33%, compared to 26% in the second quarter of 2023.



Shipped over 3,300 sensors for revenue in the third quarter, up 10% quarter over quarter.



Adjusted EBITDA3 loss improved to $18 million, compared to a loss of $24 million in the second quarter of 2023.



Net loss of $35 million in the third quarter of 2023, compared to $123 million in the second quarter of 2023.4



Cash, cash equivalents, restricted cash, and short-term investments balance of $202 million as of September 30, 2023.

“Ouster continued to realize the benefits of our merger with Velodyne as we exceeded revenue guidance, maintained strong quarterly bookings, improved gross margins, and further reduced costs to bring spending below third quarter 2022 pre-merger levels,” said Ouster CEO Angus Pacala. “We are pleased with the traction of our software offerings and are making progress towards being a provider of complete digital lidar solutions. In addition, we are encouraged by the positive customer feedback on our solid-state automotive Digital Flash (DF) sensor. As we look to our new operating framework, we are taking major steps to achieve profitability.”

Ouster delivered sequentially higher gross margins in the third quarter of 2023, in line with its expectations for improvements during the second half of the year. Margin expansion was driven by higher revenues, a favorable mix shift in Ouster’s product portfolio, and lower manufacturing costs attributable to operational improvements. GAAP gross margins of 14% include certain expenses outside of ordinary operations associated with the consolidation of product lines and outsourced manufacturing of Velodyne products. Non-GAAP gross margins improved to 33%, a near-record level since becoming a public company. Management expects gross margins to improve further in the fourth quarter of 2023.



The comparative financial results for the three and nine months ended September 30, 2022 reflect only the results of standalone Ouster. The financial results for the nine months ended September 30, 2023 are composed of Ouster standalone performance through February 10, 2023 and combined performance of Ouster and Velodyne for the remainder of the period. The results for the three months ended September 30, 2023 and June 30, 2023 reflect the combined performance of Ouster and Velodyne.


Bookings represent binding contract orders entered during the period.


Adjusted EBITDA loss and non-GAAP gross margin are non-GAAP financial measures. See Non-GAAP Financial Measures for additional information and reconciliations of these measures to their respective most directly comparable financial measures calculated in accordance with U.S. GAAP.


Net loss includes goodwill impairment non-cash charges of $67 million in the second quarter 2023.



2023 Business Objective Updates



Drive new business through targeted sales approach to deliver near-term growth



Execute on the digital lidar roadmap for OS and DF series to expand serviceable market



Develop a robust software ecosystem to accelerate lidar adoption



Build a financially strong business to support long-term growth and deliver value to shareholders

Drive New Business: During the quarter, Ouster booked a multi-million dollar contract to supply REV7 sensors for use in a mapping application. REV7’s enhanced range, accuracy, and precision are expanding the addressable market by uncovering new opportunities within this sub-vertical. The Company also booked a significant contract to provide a complete lidar solution to a leading logistics company. This win leverages the breadth of Ouster’s REV7 sensor suite paired with its advanced Gemini Detect perception software platform.

Execute on Digital Product Roadmap: Ouster progressed on its solid-state DF product roadmap in the third quarter, including demos of its early B-samples with over a dozen OEMs and Tier 1s in Europe, North America, Korea and Japan. At only 40mm tall, these final form-factor DF sensors can detect 10% reflective objects at up to 200 meters range with camera-like resolution. With the upcoming Chronos powered DF sensor, Ouster expects 2024 to reflect the culmination of years of investing in building the end-state architecture for automotive lidar.

Develop Robust Software Ecosystem: Ouster achieved major software milestones in the third quarter, which are expected to accelerate product adoption and reflect growing demand for lidar-powered smart infrastructure solutions. This included completing the unification of Blue City and Ouster Gemini and adding new performance improving deep learning AI perception models. In addition, the Company booked software coupled sales worth millions of dollars, which will increase its software installed base to over 375 cumulative sites.

Build Financially Strong Business:



Cost savings: Ouster achieved annualized cost savings of over $120 million during the third quarter, baselined against the standalone cost structures of the two companies as of the third quarter 2022. Notably, this brings Ouster below the pre-merger spending levels it incurred as a standalone company during the third quarter of 2022.



Lowering cost of capital: Ouster closed on a new credit facility and repaid its existing term loan on October 25, 2023. This is expected to result in a significantly lower interest expense and increased financial and operational flexibility going forward.



Long-term financial framework: Ouster has set a financial framework focused on achieving 30-50% annual revenue growth, expanding gross margins to 35-40%, and maintaining operating expenses at or below third quarter 2023 levels. The Company expects to achieve meaningful progress against these goals over the next 18 months.

Fourth Quarter 2023 Outlook

For the fourth quarter of 2023, Ouster expects to achieve $23 million to $25 million in revenue.



Conference Call Information

Ouster will host a conference call and live webcast for analysts and investors at 5:00 p.m. ET today, November 9, 2023 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 Ouster’s investor relations website at https://investors.ouster.com. A telephonic replay of the conference call will be available through November 23, 2023. 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.

About Ouster

Ouster (NYSE: OUST) is a leading global provider of high-resolution scanning and solid-state digital lidar sensors, Velodyne Lidar sensors, and software solutions for the automotive, industrial, robotics, and smart infrastructure industries. Ouster is on a mission to build a safer and more sustainable future by offering affordable, high-performance sensors that drive mass adoption across a wide variety of applications. Ouster is headquartered in San Francisco, CA with offices in the Americas, Europe, Asia-Pacific, and the Middle East. For more information, visit www.ouster.com, or connect with us on Twitter or LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based upon current plans, estimates and expectations of management that are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Words such as “anticipate,” “expect,” “project,” “intend,” “believe,” “may,” “will,” “should,” “plan,” “could,” “may,” “continue,” “target,” “contemplate,” “estimate,” “forecast,” “guidance,” “predict,” “possible,” “potential,” “pursue,” “likely,” and the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. All statements, other than historical facts, including statements regarding Ouster’s revenue and gross margin guidance; anticipated new product launches and developments; its future results of operations, cash reserve and financial position; anticipated cost savings, including reductions in cost of capital; execution against the Company’s product roadmap and demand for products; the Company’s path to profitability and long-term financial framework; industry and business trends; its business objectives, plans, strategic partnerships, market growth; manufacturing transitions; benefits of the Company’s merger with Velodyne; and its competitive market position constitute forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including, but not limited to, risks related to Ouster’s limited operating history and history of losses; the negotiating power and product standards of its customers; fluctuations in its operating results; its ability to successfully integrate its business with Velodyne and achieve the anticipated benefits of the Velodyne merger; supply chain constraints and challenges; cancellation or postponement of contracts or unsuccessful implementations; the ability of its lidar technology roadmap and new software solutions to catalyze growth; the adoption of its products and the growth of the lidar market generally; Ouster’s ability to grow its sales and marketing organization; substantial research and development costs needed to develop and commercialize new products; the competitive environment in which Ouster operates;



selection of Ouster’s products for inclusion in target markets; Ouster’s future capital needs and ability to secure additional capital on favorable terms or at all; its ability to use tax attributes; Ouster’s dependence on key third party suppliers, in particular Benchmark Electronics, Inc., Fabrinet, and other suppliers; Ouster’s ability to maintain inventory and the risk of inventory write-downs; inaccurate forecasts of market growth; Ouster’s ability to manage growth and recognize anticipated cost savings; the creditworthiness of Ouster’s customers; risks related to acquisitions; risks related to international operations; risks of product delivery problems or defects; costs associated with product warranties; Ouster’s ability to maintain competitive average selling prices or high sales volumes or reduce product costs; conditions in its customers’ industries; Ouster’s ability to recruit and retain key personnel; Ouster’s ability to adequately protect and enforce its intellectual property rights, including as relates to Hesai Group; Ouster’s ability to effectively respond to evolving regulations and standards; risks related to operating as a public company; and other important factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, that are further updated from time to time in the Company’s other filings with the SEC. Readers are urged to consider these factors carefully and in the totality of the circumstances when evaluating these forward-looking statements, and not to place undue reliance on any of them. Any such forward-looking statements represent management’s reasonable estimates and beliefs as of the date of this press release. While Ouster may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, other than as may be required by law, even if subsequent events cause its views to change.

In addition, see information below concerning non-GAAP financial measures.

Non-GAAP Financial Measures

In addition to its results determined in accordance with generally accepted accounting principles in the United States (“GAAP”), Ouster believes the non-GAAP measures of Non-GAAP Gross Profit, Non-GAAP Gross Margin and Adjusted EBITDA are useful in evaluating its operating performance. Ouster calculates Non-GAAP Gross Profit as gross profit (loss) excluding amortization of acquired intangibles, certain excess and obsolete expenses and losses on firm purchase commitments, and stock-based compensation expenses. Non-GAAP Gross Margin is calculated as Non-GAAP Gross Profit divided by revenues. Ouster calculates Adjusted EBITDA as net loss excluding interest expense (income), net, other expense (income), net, stock-based compensation expense, provision for income tax expense, goodwill impairment charges, amortization of acquired intangible assets, depreciation expenses, certain restructuring costs excluding stock-based compensation expenses, certain excess and obsolete expenses and losses on firm purchase commitments, certain litigation and litigation related expenses and merger and acquisition related expenses. Ouster believes that Non-GAAP Gross Profit, Non-GAAP Gross Margin, and Adjusted EBITDA may be helpful to investors because it provides consistency and comparability with past financial performance and may be helpful in comparison with other companies, some of which use similar non-GAAP information to supplement their GAAP results. The non-GAAP financial information is presented for supplemental informational purposes only, and should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies. Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP financial measures are included at the end of this press release.


For Investors


For Media







(in thousands)


     September 30,
    December 31,



Current assets:


Cash and cash equivalents

   $ 75,585     $ 122,932  

Restricted cash, current

     540       257  

Short-term investments

     124,913       —    

Accounts receivable, net

     13,404       11,233  


     26,474       19,533  

Prepaid expenses and other current assets

     11,971       8,543  







Total current assets

     252,887       162,498  

Property and equipment, net

     11,529       9,695  

Operating lease, right-of-use assets

     19,812       12,997  

Unbilled receivable, long-term portion

     7,583       —    


     —         51,152  

Intangible assets, net

     26,053       18,165  

Restricted cash, non-current

     1,090       1,089  

Other non-current assets

     2,877       541  







Total assets

   $ 321,831     $ 256,137  







Liabilities and stockholders’ equity


Current liabilities:


Accounts payable

   $ 7,932     $ 8,798  

Accrued and other current liabilities

     35,793       17,071  

Contract liabilities

     10,776       402  

Operating lease liability, current portion

     7,078       3,221  







Total current liabilities

     61,579       29,492  

Operating lease liability, long-term portion

     20,376       13,400  


     40,422       39,574  

Contract liabilities, long-term portion

     3,914       342  

Other non-current liabilities

     1,493       1,710  







Total liabilities

     127,784       84,518  







Commitments and contingencies


Stockholders’ equity:


Common stock

     39       19  

Additional paid-in capital

     971,419       613,665  

Accumulated deficit

     (777,031     (441,916

Accumulated other comprehensive loss

     (380     (149







Total stockholders’ equity

     194,047       171,619  







Total liabilities and stockholders’ equity

   $ 321,831     $ 256,137  












(in thousands, except share and per share data)


     Three Months Ended
September 30,
    Nine Months Ended
September 30,
     2023     2022     2023     2022  


   $ 22,209     $ 11,204     $ 58,835     $ 30,091  

Cost of revenue

     19,116       7,488       55,932       21,002  













Gross (loss) profit

     3,093       3,716       2,903       9,089  

Operating expenses:


Research and development

     16,678       17,212       75,584       49,011  

Sales and marketing

     7,887       8,541       33,086       23,194  

General and administrative

     14,270       14,008       63,437       40,306  

Goodwill impairment charges

     —         —         166,675       —    













Total operating expenses

     38,835       39,761       338,782       112,511  













Loss from operations

     (35,742     (36,045     (335,879     (103,422

Other income (expense):


Interest income

     2,495       733       6,459       1,231  

Interest expense

     (1,825     (699     (5,222     (1,143

Other income (expense), net

     (13     61       (124     7,071  













Total other income, net

     657       95       1,113       7,159  













Loss before income taxes

     (35,085     (35,950     (334,766     (96,263

Provision for income tax expense

     17       37       349       121  













Net loss

   $ (35,102   $ (35,987   $ (335,115   $ (96,384













Other comprehensive loss


Changes in unrealized gain (loss) on available for sale securities

   $ 63     $ —       $ 40     $ —    

Foreign currency translation adjustments

   $ (213   $ (87   $ (271   $ (88













Total comprehensive loss

   $ (35,252   $ (36,074   $ (335,346   $ (96,559













Net loss per common share, basic and diluted

   $ (0.89   $ (1.98   $ (9.39   $ (5.48

Weighted-average shares used to compute basic and diluted net loss per share

     39,228,118       18,136,135       35,670,408       17,576,509  






(in thousands)


     Nine Months Ended
September 30,
     2023     2022  



Net loss

   $ (335,115   $ (96,384

Adjustments to reconcile net loss to net cash used in operating activities:


Goodwill impairment charges

     166,675       —    

Depreciation and amortization

     14,290       7,070  

Loss on write-off of construction in progress and right-of-use asset impairment

     1,423       —    

Gain on lease termination

     (807     —    

Stock-based compensation

     46,618       25,324  

Reduction of revenue related to stock warrant issued to customer

     288       —    

Amortization of right-of-use asset

     3,268       2,075  

Interest expense

     1,112       290  

Amortization of debt issuance costs and debt discount

     190       104  

Accretion or amortization on short-term investments

     (3,303     —    

Change in fair value of warrant liabilities

     (67     (7,350

Inventory write-downs and purchase commitment losses

     8,223       894  

Provision for doubtful accounts

     1,015       9  

Loss/(Gain) from disposal of property and equipment

     (248     (100

Changes in operating assets and liabilities, net of acquisition effects:


Accounts receivable

     4,498       (69


     (4,474     (14,249

Prepaid expenses and other assets

     676       (1,540

Accounts payable

     (4,112     3,225  

Accrued and other liabilities

     (10,229     (158

Contract liabilities

     410       —    

Operating lease liability

     (4,034     (2,431







Net cash used in operating activities

     (113,703     (83,290









Proceeds from sale of property and equipment

     560       275  

Purchases of property and equipment

     (2,633     (2,353

Purchase of short-term investments

     (82,021     —    

Proceeds from sales of short-term investments

     115,481       —    

Cash and cash equivalents acquired in the Velodyne Merger

     32,137       —    







Net cash provided by (used in) investing activities

     63,524       (2,078









Repurchase of common stock

     —         (46

Proceeds from ESPP purchase

     310       —    

Proceeds from exercise of stock options

     243       398  

Proceeds from borrowings, net of debt discount and issuance costs

     —         19,077  

Proceeds from the issuance of common stock under at-the-market offering, net of commissions and fees

     2,936       16,322  

At-the-market offering costs for the issuance of common stock

     (104     (278

Taxes paid related to net share settlement of restricted stock units

     —         (59







Net cash provided by financing activities

     3,385       35,414  







Effect of exchange rates on cash and cash equivalents

     (269     (175







Net decrease in cash, cash equivalents and restricted cash

     (47,063     (50,129

Cash, cash equivalents and restricted cash at beginning of period

     124,278       184,656  







Cash, cash equivalents and restricted cash at end of period

   $ 77,215     $ 134,527  












(in thousands)


     Three Months Ended
September 30,
    Nine Months Ended
September 30,
    Three Months
Ended June 30,
     2023     2022     2023     2022     2023  

GAAP net loss

   $ (35,102   $ (35,987   $ (335,115   $ (96,384   $ (122,733

Interest income, net

     (670     (34     (1,237     (88     (517

Other expense (income), net

     13       (61     124       (7,071     165  

Stock-based compensation(1)

     8,372       8,455       46,618       25,324       16,466  

Provision for income tax expense

     17       37       349       121       50  

Goodwill impairment charge

     —         —         166,675       —         67,266  

Restructuring costs, excluding stock-based compensation expense

     —         —         15,977       —         3,342  

Excess and obsolete expenses and loss on firm purchase commitments

     3,187       —         10,567       —         3,750  

Amortization of acquired intangibles(2)

     1,759       1,122       4,972       3,366       1,702  

Depreciation expenses(2)

     1,739       1,210       9,132       3,705       2,744  

Litigation expenses(3)

     3,536       1,123       7,437       1,715       3,364  

Merger and acquisition related expenses(4)

     —         —         6,058       —         —    

Gain on lease termination and other items

     (1,256     —         (1,256     —         —    
















Adjusted EBITDA

   $ (18,405   $ (24,135   $ (69,699   $ (69,312   $ (24,401
















(1) Includes stock-based compensation expense as follows:


     Three Months Ended
September 30,
    Nine Months Ended
September 30,
    Three Months
Ended June 30,
     2023     2022     2023     2022     2023  

Cost of revenue

   $ 570     $ 207     $ 1,998     $ 570     $ 654  

Research and development

     4,056       3,681       19,765       11,248       8,204  

Sales and marketing

     1,345       1,913       7,726       5,276       3,500  

General and administrative

     2,401       2,654       17,129       8,230       4,108  
















Total stock-based compensation

   $ 8,372     $ 8,455     $ 46,618     $ 25,324     $ 16,466  
















(2) Includes depreciation and amortization expense as follows:


     Three Months Ended
September 30,
    Nine Months Ended
September 30,
    Three Months
Ended June 30,
     2023     2022     2023     2022     2023  

Cost of revenue

   $ 1,155     $ 227     $ 4,678     $ 820     $ 1,772  

Research and development

     741       889       4,596       2,600       892  

Sales and marketing

     250       75       690       225       258  

General and administrative

     1,352       1,140       4,139       3,426       1,524  
















Total depreciation and amortization expense

   $ 3,498     $ 2,331     $ 14,103     $ 7,071     $ 4,446  
















(3) Litigation expenses and litigation-related expenses outside of the Company’s ordinary business operations


(4) Merger and acquisition related expenses represent transaction costs for the Velodyne Merger which include legal and accounting professional service fees


     Three Months Ended
September 30,
    Nine Months Ended
September 30,
    Three Months
Ended June 30,
     2023     2022     2023     2022     2023  

Gross profit (loss) on GAAP basis

   $ 3,093     $ 3,716     $ 2,903     $ 9,089     $ 186  

Stock-based compensation

     570       207       1,998       570       654  

Amortization of acquired intangible assets

     467       —         1,127       —         412  

Excess and obsolete expenses and loss on firm purchase commitments

     3,187       —         10,567       —         3,750  
















Gross profit on non-GAAP basis

   $ 7,316     $ 3,923     $ 16,595     $ 9,659     $ 5,002  
















Gross margin on GAAP basis

     14     33     5     30     1

Gross margin on non-GAAP basis

     33     35     28     32     26




Document and Entity Information
Nov. 09, 2023
Document And Entity Information [Line Items]  
Amendment Flag false
Entity Central Index Key 0001816581
Document Type 8-K
Document Period End Date Nov. 09, 2023
Entity Registrant Name Ouster, Inc.
Entity Incorporation State Country Code DE
Entity File Number 001-39463
Entity Tax Identification Number 86-2528989
Entity Address, Address Line One 350 Treat Avenue
Entity Address, City or Town San Francisco
Entity Address, State or Province CA
Entity Address, Postal Zip Code 94110
City Area Code (415)
Local Phone Number 949-0108
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Common Stock [Member]  
Document And Entity Information [Line Items]  
Security 12b Title Common stock, $0.0001 par value per share
Trading Symbol OUST
Security Exchange Name NYSE
Warrants To Purchase Common Stock [Member]  
Document And Entity Information [Line Items]  
Security 12b Title Warrants to purchase common stock
Trading Symbol OUST WS
Security Exchange Name NYSE
Warrants To Purchase Common Stock Expiring 2025 [Member]  
Document And Entity Information [Line Items]  
Security 12b Title Warrants to purchase common stock expiring 2025
Trading Symbol OUST WSA
Security Exchange Name NYSEAMER

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