Overview
- Ouster reported first-quarter revenue of $48.58 million, topping estimates, with a loss of 28 cents per share in line with forecasts.
- Shares fell about 11% in after-hours trading after the company projected second-quarter revenue of $49.2 million to $52.5 million.
- Product momentum continued as Ouster shipped 12,600 lidar and camera units, with product revenue up 55% year over year to $48 million.
- The company ended the quarter with $175 million in cash and spotlighted a broader NVIDIA partnership that brings native color lidar on the new Rev8 and tighter support for NVIDIA's robotics chips and software.
- The stock had risen earlier in the day into the release following recent product news and favorable analyst calls.