Ouster, Inc., a leader in sensing and perception for Physical AI, announced today financial results for the three months ended March 31, 2026.

“Our first quarter demonstrated strong execution across our portfolio, delivering record product revenue and validating the growing demand for our solutions across key markets. We won new million-dollar contracts for Ouster BlueCity and secured several million-dollar deals to power industrial automation. Stereolabs has already proven to be a perfect complement, and the rapid integration and commercial success of our expanded camera vision portfolio was a tailwind during the quarter, with strong demand from companies building foundational AI models and advanced robotics platforms,” said Ouster CEO Angus Pacala.

“We are continuing the momentum of our unified sensing and perception platform with the introduction of our revolutionary Rev8 OS family, powered by our next-generation L4 Ouster Silicon. This launch represents a paradigm shift in AI perception as Rev8 sets a new standard for sensing, featuring the world’s first native-color lidar sensors with industry-leading resolution, range, and reliability designed for functional safety, affordability, and scale. By combining native color and perception across our entire product portfolio, we have solidified Ouster’s role as the foundational sensing and perception platform for Physical AI as we provide unified products and solutions that accelerate customer innovation and unlock new applications that sense, think, act, and learn in the physical world.”

First Quarter 2026 Highlights:

• $49 million in revenue, up 49% year over year and down 22% sequentially. Total revenue of $62 million in the fourth quarter of 2025 included royalties of approximately $21 million, primarily one-time and related to long-term IP license contracts.
• Product revenue was $48 million, up 55% year over year and 18% sequentially.
• Shipped more than 12,600 lidar and camera sensors for revenue, of which lidar was approximately 65% of the total.
• GAAP gross margin of 43%, up 200 bps year over year and down 1,700 bps sequentially.
• GAAP net loss of $17 million, an improvement of $5 million year over year and down $21 million sequentially.
• Non-GAAP gross margin1 of 46%, flat year over year and down 1,600 bps sequentially.
• Adjusted EBITDA1 loss of $7 million, up $1 million year over year and down $20 million sequentially.
• Cash, cash equivalents, restricted cash, and short-term investments of $175 million as of March 31, 2026.

1 Adjusted EBITDA 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.

Revenue
Ouster delivered first quarter revenue of $49 million, an increase of 49% year over year and a decrease of 22% sequentially. Product revenue was $48 million, up 55% year over year and 18% sequentially primarily driven by customers in the smart infrastructure and industrial verticals, for use cases in warehouse automation, yard logistics, and intelligent transportation. The Company shipped over 12,600 sensors, of which lidar was approximately 65% of the total.

Gross Margin
GAAP gross margin was 43%, compared with 41% in the first quarter of 2025 and 60% in the fourth quarter of 2025. Volume growth and operating efficiencies lifted profitability year over year. Non-GAAP gross margin was 46%, compared with 46% in the first quarter of 2025 and 62% in the fourth quarter of 2025. Non-GAAP gross margin excludes the impact of stock-based compensation expenses, and certain other items outside of ordinary operations.

Second Quarter 2026 Outlook:
For the second quarter of 2026, Ouster expects to achieve $49.5 million to $52.5 million in total revenue. This includes a full quarter of Stereolabs operations.

Upcoming Investor Events
Ouster management will participate in the following upcoming investor events:

• Craig-Hallum Annual Institutional Investor Conference – May 28, 2026 in Minneapolis
• Rosenblatt Securities 6th Annual Age of AI Scaling Summit – June 9, 2026 (virtual)
• TD Cowen Inaugural Disruptive Technology Summit – June 17, 2026 in New York City

TrendForce 2026 Infrared Sensing Application Market and Branding Strategies
Release: 01 January 2026
Format: PDF / EXCEL
Language: Traditional Chinese / English
Page: 168