$OUST

Ouster, Inc.

CIK:0001816581|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total revenue	$ 54,626	$ 35,049	$ 103,204	$ 67,681
Cost of revenue	27,941	19,207	55,681	38,356
Gross profit	26,685	15,842	47,523	29,325
Operating expenses:
Research and development	19,341	17,147	35,423	32,132
Sales and marketing	9,186	6,978	17,026	13,401
General and administrative	18,203	18,539	34,331	34,444
Total operating expenses	46,730	42,664	86,780	79,977
Loss from operations	(20,045)	(26,822)	(39,257)	(50,652)
Other income (expense):
Interest income	2,116	2,620	4,444	4,325
Other income (expense), net	(60)	(26)	(89)	277
Total other income, net	2,056	2,594	4,355	4,602
Loss before income taxes	(17,989)	(24,228)	(34,902)	(46,050)
Provision for (benefit from) income tax expense	125	(3,616)	677	(3,421)
Net loss	(18,114)	(20,612)	(35,579)	(42,629)
Other comprehensive income (loss)
Changes in unrealized gain (loss) on available for sale securities	(171)	(70)	(291)	(24)
Foreign currency translation adjustments	0	401	0	481
Total comprehensive loss	$ (18,285)	$ (20,281)	$ (35,870)	$ (42,172)
Net loss per common share, basic (in dollars per share)	$ (0.27)	$ (0.38)	$ (0.56)	$ (0.80)
Net loss per common share, diluted (in dollars per share)	$ (0.27)	$ (0.38)	$ (0.56)	$ (0.80)
Weighted-average shares used to compute basic net loss per share (in shares)	65,990,437	54,466,143	63,587,322	53,482,635
Weighted-average shares used to compute diluted net loss per share (in shares)	65,990,437	54,466,143	63,587,322	53,482,635
Product revenue
Total revenue	$ 52,763	$ 35,015	$ 100,994	$ 66,120
Royalties
Total revenue	$ 1,863	$ 34	$ 2,210	$ 1,561

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (35,579)	$ (42,629)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	5,936	3,654
Loss on write-off and disposal of property and equipment	0	85
Gain on lease termination	0	(65)
Stock-based compensation	18,879	21,724
Deferred taxes	(571)	0
Reduction of revenue related to stock warrant issued to customer	2,375	1,021
Amortization of right-of-use asset	1,663	2,509
Accretion on short-term investments	(1,115)	(1,488)
Change in fair value of warrant liabilities	0	229
(Recovery) provision for inventory write-down	(52)	465
(Recovery) provision for doubtful accounts	(86)	137
Realized gain on sale of available for sale securities	(14)	(4)
Changes in operating assets and liabilities, net of effects of business acquisition:
Accounts receivable	10,643	6,471
Inventory	(5,652)	2,049
Prepaid expenses and other assets	(9,868)	(3,640)
Accounts payable	841	6,425
Accrued and other liabilities	44	3,978
Contract liabilities	(5,600)	(3,836)
Operating lease liability	(1,883)	(3,273)
Net cash used in operating activities	(20,039)	(6,188)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(5,209)	(1,441)
Purchase of short-term investments	(122,307)	(79,686)
Proceeds from sales and maturities of short-term investments	94,995	57,250
Acquisition of Stereolabs, net of cash acquired	(27,493)	0
Net cash used in investing activities	(60,014)	(23,877)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from ESPP purchase	1,332	980
Proceeds from exercise of stock options	2,342	48
Payments received to fund employees tax obligation for vested RSUs	1,629	357
Proceeds from the issuance of common stock under at-the-market offering, net of commissions and fees	97,985	58,798
At-the-market offering costs for the issuance of common stock	(20)	(10)
Net cash provided by financing activities	103,268	60,173
Effect of exchange rates on cash and cash equivalents	0	480
Net increase in cash, cash equivalents and restricted cash	23,215	30,588
Cash, cash equivalents and restricted cash at beginning of period	69,980	48,099
Cash, cash equivalents and restricted cash at end of period	93,195	78,687
SUPPLEMENTAL DISCLOSURES OF OPERATING ACTIVITIES:
Income tax (refunds) payments, net	(1,640)	75
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING INFORMATION:
Property and equipment purchases included in accounts payable and accrued liabilities	432	743
Right-of-use assets obtained in exchange for operating lease liability	0	742
Common stock shares issued in the acquisition of Stereolabs	22,780	0
Unpaid at-the-market offering costs	$ 232	$ 0

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 91,759	$ 67,413
Restricted cash, current	336	1,467
Short-term investments	169,322	141,172
Accounts receivable, net	22,096	27,753
Inventory	31,429	23,566
Prepaid expenses and other current assets	30,743	17,517
Total current assets	345,685	278,888
Property and equipment, net	35,241	31,891
Operating lease, right-of-use assets	13,022	13,452
Unbilled receivable, non-current portion	5,254	8,560
Goodwill	38,525	0
Intangible assets, net	32,908	13,316
Restricted cash, non-current	1,100	1,100
Other non-current assets	3,083	2,309
Total assets	474,818	349,516
Current liabilities:
Accounts payable	22,315	19,984
Accrued and other current liabilities	38,759	26,200
Contract liabilities, current	17,166	20,705
Operating lease liability, current portion	4,780	4,142
Total current liabilities	83,020	71,031
Operating lease liability, non-current portion	11,617	12,938
Contract liabilities, non-current portion	3,324	3,106
Deferred tax liability	4,936	0
Other non-current liabilities	613	703
Total liabilities	103,510	87,778
Commitments and contingencies (Note 7)
Stockholders’ equity:
Common stock, $0.0001 par value; 200,000,000 and 100,000,000 shares authorized at June 30, 2026 and December 31, 2025, respectively; 68,489,797 and 60,947,757 issued and outstanding at June 30, 2026 and December 31, 2025, respectively	48	48
Additional paid-in capital	1,381,020	1,235,580
Accumulated deficit	(1,009,027)	(973,448)
Accumulated other comprehensive (loss) income	(733)	(442)
Total stockholders’ equity	371,308	261,738
Total liabilities and stockholders’ equity	$ 474,818	$ 349,516
Common stock, shares authorized (in shares)	200,000,000	100,000,000