Ouster Announces Results for Third Quarter 2026
Ouster, Inc. (OUST) filed an SEC Form 8-K — Results of Operations and Financial Condition. Ouster Announces Results for Third Quarter 2026 Record product revenue, achieving 15th straight quarter of growth Lidar and camera shipments of more than 27,000 units SAN FRANCISCO, CA – Ouster, Inc. (Nasdaq: OUST) (“Ouster” or the “Company”), a leader in sensing and perception f
How this was made
The 30-second read
Why it matters
The earnings beat and issued outlook could attract momentum traders and reinforce bullish sentiment in the AI‑hardware niche.
Market read
First‑report earnings with strong growth and issued guidance, likely to move OUST and related sensor/AI stocks.
What to watch
Potential margin pressure from sequential GAAP gross margin decline and higher operating costs.
Ouster reported third-quarter revenue of $59 million, up 50% year over year and 9% sequentially, while GAAP gross margin declined to 43% and the company guided fourth-quarter revenue to $61 million to $64 million.
Revenue growth, product shipments, narrowing losses and a $421 million cash, cash equivalents, restricted cash, and short-term investments position were positive, although gross margin declined sequentially and Ouster remained loss-making on both GAAP net loss and Adjusted EBITDA measures.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Third quarter 2026 product revenueGAAP | $56.03M | 6% | 42% |
| Third quarter 2026 royaltiesGAAP | $3.29M | – | – |
| Third quarter 2026 total revenueGAAP | $59.33M | 9% | 50% |
| Third quarter 2026 cost of revenueGAAP | $34.07M | – | – |
| Third quarter 2026 gross profitGAAP | $25.26M | – | – |
| Third quarter 2026 gross marginGAAP | 43 % | down 600 bps sequentially | essentially flat year over year |
| Third quarter 2026 non-GAAP gross profitnon-GAAP | $27.67M | – | – |
| Third quarter 2026 non-GAAP gross marginnon-GAAP | 47 % | down 700 bps sequentially | down 100 bps year over year |
| Third quarter 2026 research and development expenseGAAP | $18.56M | – | – |
| Third quarter 2026 sales and marketing expenseGAAP | $9.64M | – | – |
| Third quarter 2026 general and administrative expenseGAAP | $16.32M | – | – |
| Third quarter 2026 total operating expensesGAAP | $44.52M | – | – |
| Third quarter 2026 loss from operationsGAAP | −$19.26M | – | – |
| Third quarter 2026 interest incomeGAAP | $4.16M | – | – |
| Third quarter 2026 net lossGAAP | −$14.16M | an improvement of $4 million sequentially | an improvement of $8 million year over year |
| Third quarter 2026 net loss per common share, basic and dilutedGAAP | $ (0.20) | – | – |
| Third quarter 2026 weighted-average shares used to compute basic and diluted loss per shareGAAP | 71,470,107 | – | – |
| Third quarter 2026 Adjusted EBITDAnon-GAAP | −$3.39M | an improvement of $1 million sequentially | an improvement of $5 million year over year |
| Nine months ended September 30, 2026 product revenueGAAP | $157.0M | – | – |
| Nine months ended September 30, 2026 royaltiesGAAP | $5.50M | – | – |
| Nine months ended September 30, 2026 total revenueGAAP | $162.5M | – | – |
| Nine months ended September 30, 2026 gross profitGAAP | $72.78M | – | – |
| Nine months ended September 30, 2026 gross marginGAAP | 45 % | – | – |
| Nine months ended September 30, 2026 total operating expensesGAAP | $131.3M | – | – |
| Nine months ended September 30, 2026 loss from operationsGAAP | −$58.52M | – | – |
| Nine months ended September 30, 2026 net lossGAAP | −$49.73M | – | – |
| Nine months ended September 30, 2026 net loss per common share, basic and dilutedGAAP | $ (0.75) | – | – |
| Nine months ended September 30, 2026 Adjusted EBITDAnon-GAAP | −$14.73M | – | – |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Fourth Quarter 2026 outlook
- Revenue$61 million to $64 million in total revenue
What drove it
- Product revenue growth was primarily driven by customers in the industrial and robotics verticals for warehouse automation, defense, construction, mapping, and data collection.
- Ouster shipped over 27,000 units for revenue, of which lidar was approximately 27% of the total.
- Stereolabs cameras had a record quarter of shipments, which Ouster attributed to investments in capacity to meet surging growth in the robotics sector.
- Hundreds of customers have chosen Rev8 for mission critical applications, according to the CEO.
- A one-time refund positively impacted second-quarter GAAP gross margin by approximately 1,000 basis points.
Concerns
- GAAP gross margin was down 600 bps sequentially to 43%, and non-GAAP gross margin was down 700 bps sequentially to 47%.
- The company recorded a GAAP net loss of $ (14,156) (in thousands) and Adjusted EBITDA of $ (3,392) (in thousands) in the third quarter of 2026.
- Nine-month net cash used in operating activities increased to $ (49,388) (in thousands) from $ (24,530) (in thousands).
- Inventory was $ 36,527 (in thousands) as of September 30, 2026, compared with $ 23,566 (in thousands) as of December 31, 2025.
- The company identified risks including supply chain constraints, dependence on third-party suppliers, competition, customer adoption, tariffs and import/export regulations, and integration of the Stereolabs acquisition.
What to watch
- Fourth-quarter 2026 total revenue guidance of $61 million to $64 million.
- The pace of Rev8 initial production ramp and expected acceleration of delivery cadence into 2027.
- Whether gross margin recovers following the sequential declines in both GAAP and non-GAAP gross margin.
- Product revenue growth in industrial and robotics verticals and shipment mix between lidar and cameras.
- Operating cash use, inventory levels, and the impact of the Stereolabs acquisition.
Balance sheet and cash flow
- Cash, cash equivalents, restricted cash, and short-term investments of $421 million as of September 30, 2026.
- Cash and cash equivalents were $ 88,899 (in thousands) as of September 30, 2026, compared with $ 67,413 (in thousands) as of December 31, 2025.
- Restricted cash, current was $ 335 (in thousands) and restricted cash, non-current was $ 1,100 (in thousands) as of September 30, 2026.
- Short-term investments were $ 330,897 (in thousands) as of September 30, 2026, compared with $ 141,172 (in thousands) as of December 31, 2025.
- Accounts receivable, net were $ 39,269 (in thousands), and inventory was $ 36,527 (in thousands), as of September 30, 2026.
- Total assets were $ 653,721 (in thousands), total liabilities were $ 92,428 (in thousands), and total stockholders’ equity was $ 561,293 (in thousands) as of September 30, 2026.
- Nine months ended September 30, 2026 net cash used in operating activities was $ (49,388) (in thousands), compared with $ (24,530) (in thousands) in the nine months ended September 30, 2025.
- Nine months ended September 30, 2026 purchases of property and equipment were $ (10,882) (in thousands), compared with $ (3,143) (in thousands) in the nine months ended September 30, 2025.
- Nine months ended September 30, 2026 acquisition of Stereolabs, net of cash acquired was $ (27,493) (in thousands).
- Nine months ended September 30, 2026 net cash provided by financing activities was $ 295,916 (in thousands), including $ 97,985 (in thousands) of proceeds from the issuance of common stock under at-the-market offering, net of commissions and fees, and $ 191,850 (in thousands) of proceeds from the underwritten public offering, net of underwriting discounts, commissions and fees.
- Cash, cash equivalents and restricted cash at end of period were $ 90,334 (in thousands) for the nine months ended September 30, 2026, compared with $ 89,766 (in thousands) for the nine months ended September 30, 2025.
Analysis
Ouster reported third-quarter 2026 total revenue of $ 59,325 (in thousands), compared with $ 39,525 (in thousands) in the third quarter of 2025 and $ 54,626 (in thousands) in the second quarter of 2026. Product revenue was $ 56,032 (in thousands), up 42% year over year and 6% sequentially, while royalties were $ 3,293 (in thousands). The company shipped over 27,000 units for revenue, with lidar approximately 27% of the total, and attributed product-revenue growth primarily to industrial and robotics customers across warehouse automation, defense, construction, mapping, and data collection.
Profitability improved year over year but gross-margin performance weakened sequentially. GAAP gross margin was 43%, compared with 42% in the third quarter of 2025 and 49% in the second quarter of 2026. Ouster stated that a one-time refund positively impacted second-quarter GAAP gross margin by approximately 1,000 basis points. Non-GAAP gross margin was 47%, compared with 47% in the prior-year quarter and 53% in the second quarter of 2026. GAAP gross profit was $ 25,259 (in thousands), while total operating expenses were $ 44,519 (in thousands).
The GAAP net loss was $ (14,156) (in thousands), compared with $ (21,733) (in thousands) in the third quarter of 2025 and $ (18,114) (in thousands) in the second quarter of 2026. Adjusted EBITDA was $ (3,392) (in thousands), versus $ (8,369) (in thousands) a year earlier and $ (4,453) (in thousands) in the prior quarter. For the nine months ended September 30, 2026, Ouster generated total revenue of $ 162,529 (in thousands), recorded a net loss of $ (49,735) (in thousands), and used $ (49,388) (in thousands) in operating activities.
Liquidity increased through equity financing. Cash, cash equivalents, restricted cash, and short-term investments were $421 million as of September 30, 2026. During the nine months ended September 30, 2026, net cash provided by financing activities was $ 295,916 (in thousands), including proceeds from an at-the-market offering and an underwritten public offering. The company also reported $ (27,493) (in thousands) for the acquisition of Stereolabs, net of cash acquired.
For the fourth quarter of 2026, Ouster expects $61 million to $64 million in total revenue. The release did not provide outlook for gross margin, operating expenses, tax rate, net income, Adjusted EBITDA, shipments, or cash flow. Management emphasized record Stereolabs camera shipments, demand for Rev8, and expectations for delivery cadence to accelerate into 2027, while the sequential gross-margin declines and continued operating cash use remain the key reported financial constraints.
Management, verbatim
We delivered a strong third quarter, with $59 million in revenue and more than 27,000 total sensors shipped, cementing Ouster’s evolution into a comprehensive platform that meets the diverse, global demands of Physical AI.
Angus Pacala, CEO
The market reception for Rev8 has been decisive. As the world’s first native color lidar, Rev8 is a paradigm shift that is proving to be an undeniable competitive differentiator.
Angus Pacala, CEO
Customer demand has been robust while we ramp initial production, and we expect our delivery cadence to accelerate into 2027.
Angus Pacala, CEO
Not in the filing
stated, not guessed- Prior-quarter revenue guidance was not provided, so no comparison of actual third-quarter results with prior guidance is available.
- Fourth-quarter 2026 guidance for gross margin, operating expenses, tax rate, net income or loss, EPS, Adjusted EBITDA, shipments, operating cash flow, and free cash flow was not provided.
- Non-GAAP net income or loss and non-GAAP EPS were not provided.
- Quarterly operating cash flow and quarterly free cash flow were not provided.
- Free cash flow was not provided.
- Debt balances were not provided.
- Share repurchases and dividends were not reported.
- No reportable operating segments were provided.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Ouster is a Nasdaq-listed lidar and sensor maker serving industrial, robotics, automotive, and infrastructure markets.
Ticker impact
Ouster reported Q3 2026 results with $59M revenue, 50% YoY growth and issued Q4 guidance to $61M-$64M.
likely upside as the market prices in the issued guidance and strong revenue growth
The company posted a 50% YoY revenue increase and issued guidance above prior expectations, which typically drives buying pressure.
Market effects
Strong growth in lidar and robotics may boost related sensor and AI hardware stocks.
Positive for US tech and industrial automation sectors.
Highlights continued demand for physical AI solutions worldwide.
Counterpoint
If the market has already priced in the growth, the stock may face limited upside.
Key entities
- companyOuster, Inc.
Lidar and sensor manufacturer reporting Q3 2026 results.
