Ouster Announces Departure of Chief Financial Officer and Reaffirms Q4 Revenue Guidance
Ouster (Nasdaq: OUST) announced the departure of CFO Mark Weinswig, effective January 31, 2025, who is leaving to pursue new opportunities. The company emphasized that his resignation is not related to any disagreements regarding operations, policies, or accounting practices.
Chen Geng, current VP of Strategic Finance and Treasurer, will serve as Interim CFO. Geng, who joined in 2021, has been key in strategic planning, financings, M&A, and investor relations. The company has initiated a search for a permanent CFO.
Based on preliminary results, Ouster reaffirmed its Q4 2024 revenue guidance of $29-31 million, with final earnings results expected in March 2025.
Ouster (Nasdaq: OUST) ha annunciato le dimissioni del CFO Mark Weinswig, che saranno effettive il 31 gennaio 2025, per intraprendere nuove opportunità. L'azienda ha sottolineato che le sue dimissioni non sono collegate a disaccordi riguardo a operazioni, politiche o pratiche contabili.
Chen Geng, attuale VP della Finanza Strategica e Tesoriere, assumerà il ruolo di CFO ad interim. Geng, che è entrato in azienda nel 2021, è stato fondamentale nella pianificazione strategica, nei finanziamenti, nelle fusioni e acquisizioni e nelle relazioni con gli investitori. L'azienda ha avviato la ricerca di un CFO permanente.
In base ai risultati preliminari, Ouster ha confermato le previsioni di fatturato per il Q4 2024 tra 29 e 31 milioni di dollari, con i risultati finali attesi per marzo 2025.
Ouster (Nasdaq: OUST) anunció la salida del CFO Mark Weinswig, efectiva el 31 de enero de 2025, quien deja la compañía para buscar nuevas oportunidades. La empresa enfatizó que su renuncia no está relacionada con desacuerdos sobre operaciones, políticas o prácticas contables.
Chen Geng, actual VP de Finanzas Estratégicas y Tesorero, se desempeñará como CFO interino. Geng, quien se unió en 2021, ha sido clave en la planificación estratégica, financiamientos, fusiones y adquisiciones, y relaciones con inversores. La compañía ha iniciado la búsqueda de un CFO permanente.
Con base en resultados preliminares, Ouster reafirmó su guía de ingresos para el Q4 2024 de 29 a 31 millones de dólares, con los resultados finales esperados en marzo de 2025.
아우스터 (Nasdaq: OUST)는 CFO 마크 와인스위그의 이탈을 발표하며, 이 직책은 2025년 1월 31일부로 효력이 발생하고 새로운 기회를 추구하기 위해 떠난다고 밝혔습니다. 회사는 그의 사임이 운영, 정책 또는 회계 관행과 관련된 어떤 불일치와도 관련이 없다고 강조했습니다.
현재 전략 재무 부사장 및 재무 담당자인 첸 격은 임시 CFO를 맡게 됩니다. 2021년에 합류한 격은 전략적 계획, 자금 조달, 인수 합병, 투자자 관계에서 중요한 역할을 해왔습니다. 회사는 영구 CFO를 위한 검색을 시작했습니다.
예비 결과에 따르면, 아우스터는 2024년 4분기 매출 가이던스를 재확인했습니다 2900만에서 3100만 달러 사이로, 최종 수익 결과는 2025년 3월에 발표될 예정입니다.
Ouster (Nasdaq: OUST) a annoncé le départ de son CFO Mark Weinswig, effectif le 31 janvier 2025, qui quitte son poste pour poursuivre de nouvelles opportunités. L’entreprise a souligné que sa démission n’est pas liée à des désaccords concernant les opérations, les politiques ou les pratiques comptables.
Chen Geng, actuel VP des Finances Stratégiques et Trésorier, assurera l'intérim en tant que CFO. Geng, qui a rejoint l’entreprise en 2021, a joué un rôle clé dans la planification stratégique, les financements, les fusions et acquisitions, ainsi que les relations avec les investisseurs. L’entreprise a entamé une recherche pour un CFO permanent.
Sur la base des résultats préliminaires, Ouster a réaffirmé ses prévisions de revenus pour le Q4 2024 entre 29 et 31 millions de dollars, avec des résultats définitifs attendus en mars 2025.
Ouster (Nasdaq: OUST) gab den Rücktritt von CFO Mark Weinswig bekannt, der am 31. Januar 2025 wirksam wird, um neue Möglichkeiten zu verfolgen. Das Unternehmen betonte, dass seine Rücktritt nicht mit Meinungsverschiedenheiten über Betrieb, Richtlinien oder Buchhaltungspraktiken zusammenhängt.
Chen Geng, der derzeitige VP für Strategische Finanzen und Schatzmeister, wird als Interim CFO fungieren. Geng, der seit 2021 im Unternehmen ist, war entscheidend an strategischer Planung, Finanzierungen, Fusionen und Übernahmen sowie Investor Relations beteiligt. Das Unternehmen hat die Suche nach einem festen CFO eingeleitet.
Basierend auf vorläufigen Ergebnissen bestätigte Ouster seine Umsatzprognose für das vierte Quartal 2024 von 29 bis 31 Millionen Dollar, mit endgültigen Ergebnissen, die im März 2025 erwartet werden.
- Q4 2024 revenue expected within guidance of $29-31 million
- Smooth transition planned with interim CFO already in place
- Departure of key executive (CFO) creates leadership uncertainty
Insights
The reaffirmation of Q4 revenue guidance between
The orderly CFO transition to Chen Geng, an internal candidate with deep company knowledge since 2021, minimizes disruption risk. His experience in strategic planning, M&A and investor relations provides continuity in financial operations. The explicit statement that the departure isn't related to accounting disagreements or practices helps mitigate governance concerns.
For context, this revenue guidance implies a strong sequential growth from Q3 2024, demonstrating continued market penetration in key verticals like automotive and industrial applications. The lidar market's competitive dynamics make this performance particularly noteworthy, as it suggests Ouster is maintaining its market position despite pricing pressures and evolving technology standards.
The timing of this CFO transition coincides with a critical phase in the lidar industry's evolution. While management changes can create uncertainty, Ouster's immediate reaffirmation of guidance serves as a strategic move to maintain market confidence. The global lidar market is projected to expand significantly, driven by autonomous vehicle development and industrial automation.
The company's multi-vertical strategy across automotive, industrial, robotics and smart infrastructure positions it well to capitalize on diverse growth opportunities. The maintenance of revenue targets suggests successful customer retention and potentially new contract wins across these sectors. The interim CFO's background in strategic planning and M&A could be particularly valuable as the industry continues to consolidate.
Company expects Q4 2024 revenue to be within the guidance range of
Ouster’s Board of Directors appointed Chen Geng, Ouster’s Vice President of Strategic Finance and Treasurer, to serve as Interim Chief Financial Officer, effective January 31, 2025. Mr. Geng joined Ouster in 2021 and during his tenure has been instrumental in the Company’s financial and business functions, including strategic planning, financings, mergers and acquisitions, treasury, preparation of periodic reports filed with the Securities and Exchange Commission, and investor relations.
“On behalf of our employees and Board of Directors, I want to thank Mark for his leadership and contributions to the financial management and strategic direction of the Company. We wish him much success in his future endeavors,” said Ouster CEO Angus Pacala.
“It has been a privilege to serve on Ouster’s leadership team and I am proud of our accomplishments,” said Mr. Weinswig. “I have full confidence in Ouster’s future and am excited to watch the Company continue to innovate and empower industries with high-performance, reliable, and accessible 3D sensing solutions.”
Ouster has already begun its search to identify a permanent Chief Financial Officer.
Preliminary Fourth Quarter 2024 Revenue Results
Ouster expects revenue for the fourth quarter of 2024 to be within the previously announced guidance range of
Preliminary revenue results are based on the Company’s current expectations and may be adjusted as a result of, among other things, the completion of customary financial closing procedures.
Fourth Quarter 2024 Earnings Call
The Company expects to report Q4 2024 earnings results in March 2025.
About Ouster
Ouster (Nasdaq: OUST) is a leading global provider of high-resolution scanning and solid-state lidar sensors and software solutions for the automotive, industrial, robotics, and smart infrastructure industries. Ouster is on a mission to build a safer and more sustainable future by offering affordable, high-performance sensors that drive mass adoption across a wide variety of applications. Ouster is headquartered in
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based upon current plans, estimates and expectations of management that are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Words such as “anticipate,” “expect,” “project,” “intend,” “believe,” “may,” “will,” “should,” “plan,” “could,” “continue,” “target,” “contemplate,” “estimate,” “forecast,” “guidance,” “predict,” “possible,” “potential,” “pursue,” “likely,” and the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. All statements, other than statements of historical fact, including statements regarding Ouster’s revenue guidance for the fourth quarter of 2024; the transition of the Chief Financial Officer role; the timing of Ouster’s fourth quarter earnings call the transition of the Chief Financial Officer role; the timing of Ouster’s fourth quarter earnings call all constitute forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including, but not limited to, risks related to the completion of Ouster’s financial closing procedures; Ouster’s ability to recruit and retain key personnel and other important factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, as may be further updated from time to time in the Company’s other filings with the SEC. Readers are urged to consider these factors carefully and in the totality of the circumstances when evaluating these forward-looking statements, and not to place undue reliance on any of them. Any such forward-looking statements represent management’s reasonable estimates and beliefs as of the date of this press release. While Ouster may elect to update such forward-looking statements at some point in the future, it disclaims any obligation to do so, other than as may be required by law, even if subsequent events cause its views to change.
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Source: Ouster, Inc.
FAQ
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