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OUSTER Ouster Reports Third Quarter 2021 Financial Results November 8 , 2021 $ 7.8 million in revenue , up 31 % year over year , and 24 % gross margins Record shipments of over 1,630 sensors in Q3 Reaffirms FY 2021 guidance of $ 33 million to $ 35 million of revenue and 25 % to 27 % gross margins SAN FRANCISCO -- ( BUSINESS WIRE ) -- Ouster , Inc. ( NYSE : OUST ) ( " Ouster " or the " Company " ) , a leading provider of high - resolution digital lidar sensors for the industrial , smart infrastructure , robotics , and automotive industries , today announced financial results for the three months ended September 30 , 2021 . Third Quarter 2021 Financial Highlights • $ 7.8 million in revenue , up 31 % year over year . • 24 % gross margins , up from 18 % year over year . • Shipped over 1,630 sensors , up 127 % year over year . • Increased the number of Strategic Customer Agreements to 62 , collectively representing approximately $ 470 million in contracted revenue opportunity.1 • Net loss decreased to $ 13 million , compared to $ 20 million in third quarter 2020 . • Adjusted EBITDA² loss increased to $ 19 million ( including $ 1.2 million of expenses related to Sense Photonics acquisition ) , up from $ 6 million year over year . " Ouster delivered another great quarter , increasing revenue , adding new customers as well as additional Strategic Customer Agreements , extending our leadership position in the industry , " said Ouster CEO Angus Pacala . " We continue to drive commercial growth and performance improvements , and with our acquisition of Sense Photonics , we intend to deliver on our auto OEM agreement , advance negotiations for series production programs , and achieve key milestones on our path to automotive readiness for our solid - state platform . " Revenue growth was primarily driven by the increases in sales volume compared to the second quarter of 2021. As expected , the Company continued to reduce its cost per unit sold in line with its average selling price , in spite of headwinds from continued industry supply chain challenges . Business Updates Commercial Milestones : Ouster Automotive , formed following the acquisition of Sense Photonics³ , passed another major milestone in its strategic development agreement with its global automotive OEM partner , shipping solid - state sensors in the third and fourth quarters of 2021 and progressing to onsite testing in October 2021. The Company has also continued to advance negotiations for five automotive series production programs , collectively worth over $ 1 billion in potential revenue opportunity . Customer Traction : Ouster sold sensors to 80 new customers and signed nine additional multi - year SCAs , including binding agreements with Local Motors , Perrone Robotics , and Juzhen to supply over one thousand scanning sensors for autonomous vehicle applications through 2023. Additionally , the Company increased its distribution partnerships to over 20 worldwide , further expanding its commercial reach to drive greater digital lidar adoption . Product Developments : Ouster accelerated its solid - state roadmap by over a year , with the acquisition of Sense Photonics , and integrated its breakthrough 200 - meter range digital solid - state lidar into the industry's first comprehensive lidar suite for consumer and commercial vehicles . The Company also introduced the L2X chip , delivering increased performance improvements for its OS scanning sensors . Outlook Ouster reiterates its FY 2021 guidance of $ 33 million to $ 35 million of revenue and 25 % to 27 % gross margins . This guidance reflects the Company's recent acquisition of Sense Photonics . " Ouster had a positive quarter with record revenue and shipments , " said Ouster CFO Anna Brunelle . " Our all - stock acquisition of Sense Photonics is expected to help Ouster accelerate the capture of our multi - billion dollar TAM by executing on our hiring goals and product roadmap on a faster timeline without significant impact to our cost structure . We are excited about Ouster's competitive position across each of our four verticals and our long - term business outlook . " Conference Call Information