Ouster and Velodyne merger progresses; $315M combined cash, board designees set, FY2022 guidance achieved

Ouster, Inc.

Ouster achieved FY2022 revenue guidance of $40M-$55M and gross margin of 25%-30%.
Velodyne exceeded Q4 2022 guidance with billings of $13M-$15M and revenue of $12M-$14M.
Combined cash balance ~$315M as of Dec 31, 2022; expects to pay off ~$40M credit facility debt after close.
Annualized cost savings of at least $75M within 9 months of closing, based on standalone cost structures.
Ouster and Velodyne each designated four directors for Combined Company board, including CEOs Pacala and Tewksbury.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ouster, Inc. reported the fiscal year ended December 31, 2022 results: revenue $40 to $55 million.

Period: the fiscal year ended December 31, 2022
Revenue: $40 to $55 million
Result: preliminary results

Exact text from the filing

Ouster achieved its Fiscal Year 2022 guidance of $40 to $55 million in revenue and 25% to 30% in gross margins.

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Source: SEC EDGAR

accession 0001193125-23-022775

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