Technology · Semiconductors
Price
$42.02
Market Cap
$2.7B
Employees
320
Beta
3.24
Avg Volume
3,944,258
CEO
Angus Pacala
Business Description
Ouster, Inc. engages in the production and sale of lidar sensor kits for the automotive, industrial, robotics, and smart infrastructure industries in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers the Outer Sensor (OS) product line, including OSDome that provides a hemispheric field of view; OS0 for wide view; OS1, for mid-range view; and OS2 for long-range view. It also provides the DF series, a suite of short, mid, and long-range solid-state digital lidar sensors for advanced driver assistance systems (ADAS) and autonomous driving systems; Velodyne that offers surround-view lidar sensors comprising VLP-16, VLP-16 Lite, VLP-16 Hi-Res, VLP-32, and VLS-128; Ouster Gemini, a perception platform designed for smart infrastructure deployments; and BlueCity, a Gemini-powered solution for traffic operations, planning, and safety. In addition, the company offers ZED, a high-performance camera that provides 2D and 3D color data, as well as AI Compute. Further, it is developing solid-state digital flash sensors, a suite of short, mid, and long-range solid-state digital lidar sensors that provide uniform precision imaging without motion blur across an entire field of view. Ouster, Inc. was founded in 2015 and is headquartered in San Francisco, California.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-39.27
Stock Price: $42.02
EPS (Diluted): -1.07
EPS (Diluted): -1.07
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
4.66
Stock Price: $42.02
Total Equity: $261.74M
Shares: 56,334,911
Total Equity: $261.74M
Shares: 56,334,911
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-23.18
Market Cap: $2.68B
Total Debt: $0.00
Cash: $67.41M
EBITDA: -$50.42M
Total Debt: $0.00
Cash: $67.41M
EBITDA: -$50.42M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$1.2B
Market Cap: $2.68B
Total Debt: $0.00
Cash: $67.41M
Total Debt: $0.00
Cash: $67.41M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
7.20
Stock Price: $42.02
Revenue: $169.38M
Shares: 56,334,911
Revenue: $169.38M
Shares: 56,334,911
EV/Sales (Total value vs revenue — works when P/E can't)
API6.90
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
49.3%
Gross Profit: $83.44M
Revenue: $169.38M
Revenue: $169.38M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-43.7%
Operating Income: -$74.00M
Revenue: $169.38M
Revenue: $169.38M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-35.6%
Net Income: -$60.38M
Revenue: $169.38M
Revenue: $169.38M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
-23.1%
Net Income: -$60.38M
Total Equity: $261.74M
Total Equity: $261.74M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
-36.3%
Operating Income: -$74.00M
Tax Rate: 4.6%
Equity: $261.74M
Total Debt: $0.00
Cash: $67.41M
Tax Rate: 4.6%
Equity: $261.74M
Total Debt: $0.00
Cash: $67.41M
Zero debt — invested capital = equity minus cash (very efficient)
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
3.93
Current Assets: $278.89M
Current Liabilities: $71.03M
Current Liabilities: $71.03M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.00
Short-Term Debt: $0.00
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $261.74M
Long-Term Debt: $0.00
Total Debt: $0.00
Total Equity: $261.74M
Zero debt — this company carries no debt obligations. Strongest possible score.
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$3.01
Revenue: $169.38M
Shares: 56,334,911
Shares: 56,334,911
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$4.65
Total Equity: $261.74M
Shares: 56,334,911
Shares: 56,334,911
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-1.15
Operating CF: -$39.96M
CapEx: -$24.89M
Shares: 56,334,911
CapEx: -$24.89M
Shares: 56,334,911
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $42.02
Stock Price: $42.02
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$60.38M
Net Income: -$60.38M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares OUST against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 23, 2026 12:55pm (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $33.6M | $41.0M | $83.3M | $111.1M | $169.4M |
| Cost of Revenue | $24.5M | $30.1M | $73.6M | $70.6M | $85.9M |
| Gross Profit | $9.1M | $10.9M | $9.7M | $40.5M | $83.4M |
| Operating Expenses | $108.8M | $156.4M | $382.9M | $144.6M | $157.4M |
| Operating Income | -$99.7M | -$145.4M | -$373.2M | -$104.2M | -$74.0M |
| Net Income | -$94.0M | -$138.6M | -$374.1M | -$97.0M | -$60.4M |
| EBITDA | -$88.7M | -$123.4M | -$342.6M | -$79.9M | -$50.4M |
| EPS | $-7.02 | $-7.79 | $-10.10 | $-2.08 | $-1.07 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 23, 2026 12:55pm (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $183.6M | $122.9M | $51.0M | $45.5M | $67.4M |
| Total Current Assets | $207.4M | $162.5M | $263.2M | $219.9M | $278.9M |
| Total Assets | $307.7M | $256.1M | $330.7M | $276.1M | $349.5M |
| Current Liabilities | $22.1M | $29.5M | $81.7M | $78.4M | $71.0M |
| Long-Term Debt | $0 | $39.6M | $44.0M | $0 | $0 |
| Total Liabilities | $47.0M | $84.5M | $151.1M | $95.2M | $87.8M |
| Total Equity | $260.7M | $171.6M | $179.7M | $180.9M | $261.7M |
| Retained Earnings | -$303.4M | -$441.9M | -$816.0M | -$913.1M | -$973.4M |
Cash Flow (Annual)
Last updated: Jun 23, 2026 12:55pm (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$70.6M | -$110.7M | -$137.9M | -$33.7M | -$40.0M |
| Capital Expenditure | -$4.3M | -$5.4M | -$3.0M | -$3.8M | -$24.9M |
| Free Cash Flow | -$74.8M | -$116.1M | -$140.9M | -$37.5M | -$64.8M |
| Acquisitions (net) | -$10.9M | $275,000 | $32.1M | $668,000 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $-45,000 | $-45,000 | $0 | $0 | $0 |
| Net Change in Cash | $172.0M | -$60.4M | -$71.6M | -$4.5M | $21.9M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 9:38pm (11h ago)| Metric | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue |
$220.5M $217.6M – $225.9M
|
$298.0M $293.7M – $302.2M
|
$387.6M $381.0M – $394.2M
|
$538.9M $520.4M – $554.8M
|
| EBITDA |
-$177.2M -$181.5M – -$174.8M
|
-$239.4M -$242.8M – -$236.0M
|
-$311.4M -$316.7M – -$306.1M
|
-$433.0M -$445.8M – -$418.1M
|
| Net Income |
-$26.2M -$27.6M – -$24.8M
|
-$8.7M -$8.8M – -$8.5M
|
$1.5M -$129.7M – $129.7M
|
$23.7M $22.6M – $24.6M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 23, 2026 12:55pm (3d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +22.2% | +103.0% | +33.4% | +52.5% |
| Gross Profit Growth | +20.3% | -11.5% | +318.1% | +106.2% |
| Operating Income Growth | -45.8% | -156.6% | +72.1% | +29.0% |
| Net Income Growth | -47.4% | -170.0% | +74.1% | +37.8% |
| EBITDA Growth | -39.1% | -177.7% | +76.7% | +36.9% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for OUST — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30