Shares of Ouster, Inc. (NASDAQ: OUST) surged 24.76% to $10.46 after the company reported record-breaking revenues. The company’s financial performance for the fourth quarter and full fiscal year ended December 31, 2024, showed remarkable growth, gaining 23% year over year and 7% sequentially, with a quarterly sales of $30 million. Annual sales also showed impressive growth, rising 33% to $111 million.
Increased Shipments of Sensors and Better Margins
Ouster shared that sensor shipments were a huge success, with over 4,800 units shipped in the fourth quarter and over 17,300 units delivered overall. The primary causes of the demand increase were applications in the robotics and automotive sectors, including robotaxis, mapping, and last-mile delivery.
The GAAP gross margin of the firm improved by more than 2,200 basis points from the prior year to 44%. This increase was attributed to lower costs associated with legacy stocks, improved product mix, and higher revenues.
Improved Financial Standing and Strategic Growth
By cutting its net quarterly loss to $24 million, Ouster showed that it was financially resilient. This was a significant improvement from the $39 million loss that was reported a year earlier. In the same way, its yearly net loss decreased to $97 million from an astounding $374 million in fiscal year 2023.
Ouster also used its available funds to successfully pay off all of the outstanding liabilities on its revolving credit line. Additionally, the business increased software-attached bookings by 60% and extended its BlueCity and Ouster Gemini installations to more than 700 locations.
New Developments and Opportunities
Significant technical developments, such as the creation of next-generation bespoke silicon chips and instruments meant to speed up LiDAR usage, contributed to Ouster’s impressive 2024 performance. The introduction of 3D Zone Monitoring, the first example of directly integrating perception logic into its sensor portfolio, was a significant turning point.
In order to position itself for the biggest rise in its addressable market to date, the firm plans to drive the expansion of its product range while navigating a dynamic market landscape in 2025.