Ouster, Inc. delivered record results in Q2 with revenue of $26.99M, but the stock sold off due to weak guidance. Despite the selloff, Ouster remains on track for steady growth and profitability, with strong gross margins and cash reserves. Analyst predicts Ouster to reach cash flow positive and profitability by 2026, setting a price target of $23 per share for 2025.
Ouster, Inc. reported Q2 revenues of $27 million, with a 39% YoY growth, leading the domestic Lidar sector. The stock market overreacted to Q3 guidance, causing a 28% drop, but Ouster remains on track for 30-50% sales growth. Ouster's strong financial position, with $186M cash balance and debt paid off, sets up for significant growth potential in the future while the stock trades at 2x '25 sales targets.
Ouster Inc. OUST reported weaker-than-expected sales for its second quarter on Tuesday.
U.S. stock futures were mixed this morning, with the Dow futures gaining around 0.1% on Wednesday.
Ouster, Inc. (NYSE:OUST ) Q2 2024 Earnings Conference Call August 13, 2024 5:00 PM ET Company Participants Chen Geng - Vice President, Strategic Finance and Treasurer Angus Pacala - Chief Executive Officer Mark Weinswig - Chief Financial Officer Conference Call Participants Kevin Cassidy - Rosenblatt Securities Kevin Garrigan - WestPark Capital Richard Shannon - Craig-Hallum Itay Michaeli - Citi Operator Hello and welcome to Ouster's Second Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise.
Ouster, Inc. (OUST) closed the most recent trading day at $10.98, moving -1.17% from the previous trading session.
Ouster, Inc. (OUST) closed the most recent trading day at $13.41, moving -1.25% from the previous trading session.
Ouster, Inc. (OUST) closed the most recent trading day at $14.04, moving -1.89% from the previous trading session.
Here is how Ouster, Inc. (OUST) and Alpha and Omega Semiconductor (AOSL) have performed compared to their sector so far this year.
Ouster, Inc. (OUST) reachead $10.20 at the closing of the latest trading day, reflecting a -0.2% change compared to its last close.
Shares of Southwest Airlines rose 9% on Monday and headed toward their largest single-day gain in nearly four years, after activist firm Elliott Investment Management announced a nearly $2 billion stake in the company and called to oust the airline's chief executive and board chair.
Here is how Ouster, Inc. (OUST) and Alkami Technology (ALKT) have performed compared to their sector so far this year.