OUSTMEDIUM SIGNALOPERATIONAL10-K

OUST transitioned from smaller reporting company status while demonstrating strong operational momentum with 52% revenue growth and meaningful improvement in profitability metrics.

The company's graduation from smaller reporting company status indicates significant business growth and maturation. The substantial revenue increase coupled with improving gross margins and reduced operating losses suggests OUST is successfully scaling its lidar technology business, though investors should monitor the increased capital expenditures and rising interest expense.

Comparing 2026-03-02 vs 2025-03-21View on EDGAR →
FINANCIAL ANALYSIS

OUST delivered strong top-line growth with revenue increasing 52% to $169.4M, while gross profit more than doubled to $83.4M, indicating improving operational efficiency and economies of scale. The company significantly reduced its net loss from -$97M to -$60.4M and operating loss from -$104.2M to -$74M, demonstrating progress toward profitability. However, capital expenditures surged 563% to $24.9M and interest expense nearly tripled to $9.3M, suggesting increased investment in growth and higher financing costs, while stronger cash position (+48%) and equity (+44.7%) provide financial stability to support continued expansion.

FINANCIAL STATEMENT CHANGES
Capital Expenditure
Cash Flow
+562.8%
$3.8M$24.9M

Capital expenditure jumped 562.8% — major investment cycle underway; assess returns on deployment.

Interest Expense
P&L
+245.3%
$2.7M$9.3M

Interest expense surged 245.3% — significant debt increase or rising rates materially impacting earnings.

Gross Profit
P&L
+106.2%
$40.5M$83.4M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Accounts Receivable
Balance Sheet
+54.7%
$17.9M$27.8M

Receivables surged 54.7% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Revenue
P&L
+52.5%
$111.1M$169.4M

Strong top-line growth of 52.5% — accelerating demand or successful expansion into new markets.

Cash & Equivalents
Balance Sheet
+48%
$45.5M$67.4M

Cash position surged 48% — strong cash generation or capital raise providing significant financial cushion.

Stockholders Equity
Balance Sheet
+44.7%
$180.9M$261.7M

Equity base grew 44.7% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Inventory
Balance Sheet
+43.5%
$16.4M$23.6M

Inventory surged 43.5% — growing faster than typical sales pace; potential demand softening or supply chain overcorrection.

Net Income
P&L
+37.8%
-$97.0M-$60.4M

Net income grew 37.8% — bottom-line growth signals improving overall business health.

Operating Income
P&L
+29%
-$104.2M-$74.0M

Operating income improving — cost discipline or growing revenue base absorbing fixed costs.

LANGUAGE CHANGES
NEW — 2026-03-02
PRIOR — 2025-03-21
ADDED
The registrant is no longer a smaller reporting company for the fiscal year ended December 31, 2026, but relies on applicable exemptions as a former smaller reporting company (through December 31, 2025) in this Annual Report on Form 10-K.
The Company was incorporated in the Cayman Islands on June 4, 2020 as Colonnade Acquisition Corp.
, Following the closing of a business combination between the Company and Ouster Technologies, Inc.
(formerly, Ouster, Inc.) in March 2021 (the Colonnade Merger ), the Company domesticated as a Delaware corporation and changed its name to Ouster, Inc.
References to CLA refer to the Company prior to the business combination.
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REMOVED
( OTI ) (formerly known as Ouster, Inc.) and its consolidated subsidiaries prior to the merger of OTI with Colonnade Acquisition Corp., a Cayman Islands exempted company ( CLA ) (the Colonnade Merger ), and to Ouster, Inc.
(formerly known as Colonnade Acquisition Corp.) and its consolidated subsidiaries following the consummation of the Colonnade Merger.
We are a leading global provider of lidar sensors and solutions for the automotive, industrial, robotics, and smart infrastructure industries.
Ouster s products include high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, and software solutions.
We envision a future where our digital technology enables lidar to become universal, empowering 3D perception capabilities within robots, cars, trucks, and drones, as well as factories, warehouses, roads, sidewalks, public spaces, retail stores, stadiums, docks, and airport terminals.
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