Ouster Stock Forecast
Ouster and Velodyne have completed a “Merger of Equals” to accelerate the adoption of Lidar technology. The newly combined entity will be known as Ouster.
Ouster and Velodyne successfully merged to create a leading lidar powerhouse named Ouster. The combined company offers innovative digital lidar technology and a robust product range to serve over 850 customers across various industries. Ouster’s CEO, Angus Pacala, will lead the new company, while Velodyne’s CEO, Ted Tewksbury, will chair its board of directors.
Ouster Past Performance in the Last 12 Months
- Last 1 week: +7.6%
- Last 1 Month: +18.6%
- Last 6 Months: -57.3%
- Last 1 Year: -64.2%
Ouster Stock Forecast: Latest news
- Ouster, Inc. has announced that it will release its financial results for the second quarter ended June 30, 2023, after the market closes on Thursday, August 10, 2023. The company will also hold a conference call on the same day at 5:00 p.m. ET to discuss these results.
Ouster Stock Forecast: Key Strengths of the New Company
- The company had a robust product portfolio to serve current and prospective customers, which included Ouster OS and DF series sensors, Velodyne Lidar sensors, and Ouster Gemini and Bluecity software.
- In order to accelerate market penetration, the company had expanded its partner ecosystem and distribution channels.
- The company had devised an innovative digital lidar roadmap and software strategy to drive product adoption and create new high-margin revenue streams.
- With an extensive intellectual property portfolio of 173 granted and 504 pending patents, backed by over 20 years of combined experience in lidar technology innovation, the company had a solid foundation.
- As of December 31, 2022, the company had maintained a strong financial position with a combined cash balance of over $315 million.
- Furthermore, the company had been on track to exceed previously projected annualized operating expenditure synergies of $75 million, compared to standalone cost structures as of September 30, 2022, within 9 months.
Ouster Stock Forecast: First Quarter 2023 Highlights
- In the first quarter of 2023, the company reported over $17 million in revenue, a significant increase of 101% compared to $8.6 million in the same period of 2022.
- The company secured $33 million in business with both new and existing customers during the first quarter.
- However, the gross margins for the first quarter of 2023 were negative, standing at (2%), in contrast to the 30% gross margins achieved in the first quarter of 2022. On a non-GAAP basis, the gross margins for the first quarter of 2023 were 25%.
- The company experienced substantial growth in the shipment of sensors, delivering over 3,000 sensors for revenue during the first quarter, a increase of 95% compared to the previous year.
- Despite the positive revenue growth, the net loss for the first quarter of 2023 increased to $177 million. The increase was primarily attributed to non-cash goodwill impairment charges of $99 million and higher operating losses related to the Velodyne merger. In the first quarter of 2022, the net loss was $32 million.
- Furthermore, the adjusted EBITDA loss for the first quarter of 2023 increased to $27 million, compared to a loss of $23 million in the same period of 2022.
- As of March 31, 2023, the company had a balance of $257 million in cash, cash equivalents, and short-term investments.
Ouster Stock Forecast: Will Ouster Stock Go Up in 2023?
Ouster’s stock may see potential for growth in 2023 due to the expected expansion of the lidar market, driven by its significance in autonomous vehicles. Ouster’s continuous efforts to improve its lidar technology, enhancing range, resolution, and affordability, may attract more customers and boost sales. Additionally, the company’s recent merger integrations could also contribute to increased market share.
Is Ouster a good stock to buy in 2023?
- Ouster has clear business objectives for 2023 such as driving new business, executing its digital lidar roadmap, developing a robust software ecosystem, and building a financially strong company.
- Ouster’s expanding sales and customer base, including partnerships with Motional and other major players in warehouse automation and industrial sectors, indicate growing demand for its lidar sensors.
- Ouster’s progress on its digital lidar roadmap, with developments in OS and DF series sensors, shows its commitment to technological innovation and staying at the forefront of lidar technology.
- Ouster’s software ecosystem, featuring solutions like BlueCity and Ouster Gemini, aims to enhance customer experience and improve overall performance. Numerous smart infrastructure deployments worldwide have adopted Ouster’s software solutions.
- Ouster’s focus on cost synergies from the Velodyne merger is expected to bring significant financial benefits. Scaling manufacturing through an outsourced strategy is aimed at improving efficiency and reducing costs for better financial outcomes.
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