10-Q · May 5, 2026
Ouster, Inc. reported Q1 2026 revenues of $48.6 million, marking a robust 49% increase from $32.6 million year-over-year, primarily driven by increased sensor volume sales. However, the company posted a loss of $0.28…
OUST earnings analysis
10-Q · Filed November 3, 2026 · Our reading of the company's report
The latest report
Ouster delivered $59.325 million of Q3 revenue, exceeding consensus and increasing 7.9% sequentially and 48.3% year over year, while shipments exceeded 27,000 units. Gross margin declined sharply to 43.0% from 48.9%…
Read full summary
Ouster delivered $59.325 million of Q3 revenue, exceeding consensus and increasing 7.9% sequentially and 48.3% year over year, while shipments exceeded 27,000 units. Gross margin declined sharply to 43.0% from 48.9% sequentially, and diluted EPS of $(0.20) missed consensus by $0.06 despite improving from $(0.27). Liquidity was substantial at $421.2 million with no debt outstanding, but the filing provides limited operating and cash-flow detail in the available extract; overall, growth and liquidity are balanced by margin pressure and continuing losses.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.2
- Gross margin
- 43.0%
What stood out
-
Revenue grew and beat consensus
Revenue was $59.325 million, up approximately 7.9% from $55 million in Q2 2026 and 48.3% from $40 million in Q3 2025. Revenue also exceeded the $56.253 million consensus estimate by approximately 5.5%.
-
Year-over-year margin improvement
Gross margin was 43.0%, down 5.9 percentage points sequentially from 48.9%, but up 0.9 percentage points year over year from 42.1%.
-
Loss narrowed but missed EPS estimate
Diluted EPS was $(0.20), an improvement from $(0.27) in Q2 2026 and $(0.37) in Q3 2025, although it missed the $(0.14) consensus estimate by $0.06 per share.
-
Record sensor shipments
Sensor shipments exceeded 27,000 units during the quarter, supporting the quarter's $59.325 million of revenue.
-
Strong liquidity and no debt
The company reported $421.2 million of cash, cash equivalents, restricted cash and short-term investments as of September 30, 2026, and had no debt outstanding.
-
Limited stated interest-rate exposure
Management stated that a hypothetical 100-basis-point change in interest rates would not have a material impact on financial condition or results because of the short-term investment portfolio.
What to watch
-
EPS miss and continuing losses
Diluted EPS was $(0.20) versus the $(0.14) consensus estimate, a $0.06 per-share miss, indicating that the company remains loss-making despite sequential improvement from $(0.27).
-
Sequential gross-margin compression
Gross margin fell to 43.0% from 48.9% sequentially, a 5.9-percentage-point compression that could pressure operating leverage if sustained.
-
Investment portfolio rate exposure
The company held $421.2 million in cash, restricted cash and short-term investments, including $160.6 million of corporate debt securities and $180.3 million of commercial paper; these investments remain exposed to changes in market rates despite management's statement that a 100-basis-point change would not be material.
-
Severance obligations added
The filing states there were no material changes to the risk factors previously disclosed in the 2025 Annual Report. Separately, the new severance plan provides up to 12 months of salary continuation, or up to 150% of base salary for covered change-in-control terminations and 200% for the CEO, plus equity vesting acceleration.
Management's outlook
The related earnings disclosure provided Q4 2026 revenue guidance of $61 million to $64 million. Direction is not directly comparable with the prior Q3 outlook of $65 million to $70 million because the periods differ; the 10-Q itself does not provide numeric EPS guidance.
Earlier filings 4
10-K · March 2, 2026
Ouster describes a strategy of a unified sensing and perception platform combining digital lidar, cameras, AI compute, sensor fusion and perception software, and edge/cloud applications. Financially the business shows a…
10-Q · August 11, 2025
Ouster reported Q2 revenue of $35,049,000 (up $8,059,000 or ~29.9% year-over-year and up $2,417,000 or ~7.4% sequentially) with gross margin expanding to 45.2% from 33.7% a year ago. Despite revenue and margin…
10-Q · November 8, 2024
Ouster reported Q3 2024 revenue of $28,075,000 and GAAP diluted loss per share of $(0.54). Revenue and gross profit improved materially year-over-year (Q3 2024 revenue up from $22,209,000; gross profit up to…
Smart money in OUST
Totals from the last full session. Insider and politician figures cover 90 days.
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.
See every OUST trade live.
The free pages stop at the last full session. Trader shows every trade as it prints.
Start tracking No card needed.