Ouster Q2 revenue $19M+ (up 88% YoY); net loss $123M; cost savings target raised to $110M+

Ouster, Inc.

2023-Q2 EPS reported -$8.84 revenue$36,626,000

Revenue over $19M, up 13% QoQ and 88% YoY; bookings totaled $43M.
GAAP gross margin 1% (includes $3.8M excess/obsolete costs); non-GAAP gross margin 26% vs 25% Q1.
Net loss $123M (incl. $67M goodwill impairment); adjusted EBITDA loss improved to $24M from $27M Q1.
Cash, cash equivalents and short-term investments $224M as of June 30, 2023.
Targeting annualized cost savings over $110M exiting Q4 2023, up from prior goal.

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 three and six months ended June 30, 2023 results: net income Net loss of $123 million in the second quarter of 2023.

Period: three and six months ended June 30, 2023
Net income: Net loss of $123 million in the second quarter of 2023
Result: reported results

Exact text from the filing

On August 10, 2023, Ouster, Inc. (the “ Company ”) announced financial results for the three and six months ended June 30, 2023.

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Source: SEC EDGAR

accession 0001193125-23-209082

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