Exhibit 99.1
Ouster Announces Preliminary Fourth Quarter 2023 Revenue Results
Expects Q4 2023 revenue to be at or above the midpoint of the previous guidance range
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 that based on preliminary results, the Company expects fourth quarter 2023 revenue to be at or above the midpoint of the guidance range of $23 to
$25 million previously provided on November 9, 2023.
Ouster ended the year on a high note, and I am pleased to announce that we expect
our fourth quarter revenues to be in the upper half of guidance. The Ouster team is delivering on its strategy of enabling autonomous solutions across a wide range of use cases such as industrial, robotaxi, mapping, and smart city. We see continued
momentum as the value proposition and performance of our product portfolio resonates with our customers, said Ouster CEO Angus Pacala.
The Company
expects to report Q4 2023 earnings results in March 2024.
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 Ousters revenue guidance; its business objectives, plans, strategic partnerships and market growth 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 Ousters 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