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OUSTER Ouster Reports Record First Quarter 2021 Results May 6 , 2021 Record revenue of $ 6.6 million , up 187 % over the first quarter of 2020 Record shipments of 978 sensors , up 240 % over the first quarter of 2020 40 strategic customer agreements signed to date ; $ 385 million in contracted revenue opportunity Reaffirms 2021 revenue guidance of $ 33 million to $ 35 million SAN FRANCISCO -- ( BUSINESS WIRE ) -- Ouster , Inc. ( NYSE : OUST ) ( " Ouster " or the " Company " ) a leading provider of high - resolution digital lidar sensors for the industrial automation , smart infrastructure , robotics , and automotive industries , today announced business updates , including operational milestones and reaffirmed guidance , and financial results for the three months ended March 31 , 2021 . " I am pleased with our execution in the first quarter of 2021. We delivered an 187 % year - over - year increase in revenue and scaled up our second generation sensor production , shipping 978 sensors for revenue in the first quarter . Furthermore , we believe our momentum from signing 40 strategic customer agreements to date is a clear reflection of our strong competitive positioning , " said Ouster CEO Angus Pacala . " Ouster serves over 500 customers today , providing us with unique insights into the autonomous revolution across our four end markets . We believe we are reaching a tipping point in lidar adoption as our digital approach unlocks the largest multi - market TAM and offers a combination of the highest performance at the lowest cost . I feel confident in where the business stands today and optimistic about our growth trajectory moving forward . " First Quarter 2021 Financial and Operational Highlights : • Public Market Debut : Completed the business combination between Ouster and Colonnade Acquisition Corp. with $ 300 million in gross proceeds , and began trading on NYSE as ' OUST ' on March 12 , 2021 . • Revenue : Q1 revenue was $ 6.6 million , a 187 % increase over the first quarter of 2020 . • Gross Margins : Q1 gross margin was 26 % , in line with our 2021 guidance . • Units Shipped : 978 sensors were shipped for revenue in the first quarter of 2021 , an increase of 240 % over the first quarter 2020 . • Strategic Customer Agreements * ( " SCA ” ) : Ouster has signed 40 SCAs to date , representing the potential for over $ 385 million in contracted revenue opportunity through 2025 , up from 10 signed SCAs representing $ 34 million in contracted revenue opportunity in the fourth quarter of 2020 . * SCAS establish a multi - year purchase and supply framework for Ouster and the customer and include details about customer programs and applications where the customer intends to use Ouster products . They also include multi - year non - binding customer forecasts giving Ouster visibility to the customer's long - term purchasing requirements , mutually agreed upon pricing over the duration of the agreement , and in certain cases include multi - year binding purchase commitments . Contracted revenue opportunity includes both binding purchase commitments and non - binding forecasts . For customers that provided less than a five year forecast , no additional revenue opportunity beyond the term of the customer's forecast has been included . Full Year 2021 Guidance For the full year 2021 , the Company expects to achieve : • Revenue of $ 33 million to $ 35 million ; and • Gross Margin of 25 % to 27 % Conference Call Information Ouster will host a conference call and live webcast for analysts and investors at 5:00 PM EST on May 6 , 2021 to discuss its financial results for the first quarter 2021 and business outlook . To access the call , please register by visiting the following website : http://www.directeventreg.com/registration/event/4886889 . Upon registering , each participant will be provided with call details and a registrant ID . The webcast will be accessible for at least 30 days on Ouster's investor relations website at https://investors.ouster.com/ . A telephonic replay of the conference call will be available via phone through May 20 , 2021. To access the replay , please dial ( 800 ) 585-8367 from the United States , or ( 416 ) 621-4642 from outside the U.S. and enter conference code 4886889 .