Ouster, Inc. Common Stock (OUST)

History and Background

Ouster, Inc. was founded in 2015, went public via SPAC in 2021, and focuses on developing and manufacturing high-resolution lidar sensors for various industries, including robotics, automotive, industrial automation, and smart infrastructure.

Core Business Areas

• Lidar Sensors: Development and manufacturing of digital lidar sensors used for 3D perception. They offer various models with different ranges, resolutions, and form factors.
• Software: Development of perception software designed to integrate with and enhance the performance of their lidar sensors, providing object detection, classification, and tracking capabilities.

Leadership and Structure

Angus Pacala is the CEO. The company has a typical corporate structure with departments for engineering, sales, marketing, operations, and finance.

Key Offerings

• OS Series Lidar Sensors: Ouster's flagship product line, offering a range of short, mid, and long-range lidar sensors. Market share is difficult to pinpoint precisely due to fragmented market and private competitors. Competitors include Velodyne (now part of Ouster itself after merger) and Hesai Group. The OS series targets a variety of applications. Ouster has reported number of sensors shipped in their financial reports rather than revenues.
• Rev7: A high-performance lidar sensor platform. Precise market share figures unavailable, but it competes in the high-end lidar market. Competitors include Luminar, and Aeva. Provides superior image quality in their lidar sensors
• Ouster Gemini: A perception software platform for various applications. Competitors include Cognata and Applied Intuition, who offer similar solutions. Provides a centralized platform for visualization.

Industry Overview

The lidar market is experiencing rapid growth driven by increasing demand for autonomous vehicles, robotics, and industrial automation. The market is competitive, with many established players and new entrants.

Positioning

Ouster positions itself as a leading provider of high-performance, cost-effective digital lidar sensors. They aim to provide solutions for a wide range of applications with a focus on scalability and reliability.

Total Addressable Market (TAM)

The TAM for lidar is projected to reach tens of billions of dollars in the coming years. Ouster is positioned to capture a portion of this market by focusing on key industries and applications.

Key Competitors

• HSAI
• LAZR

Competitive Landscape

Ouster competes with many companies in a very competitive market. Ouster is focusing on cost reduction and expansion into key markets to improve its competitive position.

Historical Growth: Ouster has demonstrated significant revenue growth in past years, but it is unprofitable

Future Projections: Analyst estimates vary, but most project continued revenue growth. Profitability is not expected in the immediate future.

Recent Initiatives: Recent initiatives include focusing on key vertical markets, expanding their product portfolio, and cutting costs (including the merger with Velodyne).

Ouster is a lidar technology company with high revenue growth and continued revenue growth estimated. However, the company continues to be unprofitable and has had to raise cash, creating stock dilution. The key item to watch is if their technology and strategy will lead to profitability and the reduction of cash burn.

Data Sources:

• Ouster, Inc. SEC Filings (10-K, 10-Q)
• Analyst Reports
• Industry Publications
• Company Website

Disclaimers:

This analysis is for informational purposes only and should not be considered financial advice. The information provided is based on publicly available data and analyst estimates, which are subject to change. Invest at your own risk.