Ouster (OUST) Q3 2026 earnings summary

Executive summary

• Q3 revenue reached $59.3M, up 50% YoY; more than 27,000 sensors shipped, and product revenue grew for the 15th consecutive quarter.

• Strategy combines lidar, cameras, AI compute and perception software for Physical AI, while progressing toward profitability.

Financial highlights

• Product revenue was $56.0M, up 42% YoY; patent royalties were $3.3M versus $38K in Q3 2025.

• GAAP gross margin was 43% versus 42% YoY; non-GAAP gross margin was 47%, unchanged YoY.

• Net loss narrowed to $14.2M from $21.7M; operating loss narrowed to $19.3M from $24.3M.

• Adjusted EBITDA loss improved to $3.4M from $8.4M YoY.

• Nine-month revenue rose 52% to $162.5M; net loss narrowed to $49.7M from $64.4M.

Outlook and guidance

• Q4 2026 revenue guidance is $61M–$64M, including estimated royalties of $3M.

• FY 2026 revenue growth at the guidance midpoint is expected to be ~48% YoY, excluding royalties; operating expenses are expected to rise 5%–8% YoY, excluding specified items.

• Rev8 production is expected to increase from hundreds of units in Q3 to thousands in Q4 and tens of thousands by FY 2027-end; delivery cadence is expected to accelerate into 2027.

• Continued operating losses and negative operating cash flow are expected for the foreseeable future; liquidity was assessed as sufficient for at least 12 months from the filing date.