Ouster, Inc. - OUST STOCK NEWS

Ouster (NYSE: OUST) has filed a patent infringement complaint against Hesai Group (Nasdaq: HSAI) with the U.S. International Trade Commission and in Delaware courts, seeking to block imports of Hesai's lidar sensors that allegedly infringe on five Ouster patents. Ouster, a leader in high-performance lidar technology, claims that Hesai has unlawfully incorporated its patented technologies into competing products. This action follows a prior infringement case in 2019 where Hesai paid Velodyne Lidar millions in settlement. Ouster's patents reflect significant investments in digital lidar technology, positioning the company as a key player in the market, and Ouster intends to vigorously protect its intellectual property to maintain competitive advantage.

Ouster, a leader in high-performance lidar sensors, has announced a 1-for-10 reverse stock split of its common stock, effective April 20, 2023, at 4:01 p.m. Eastern Time. This decision follows shareholder approval obtained during a special meeting on January 26, 2023. After the reverse split, every 10 shares will convert into one share, maintaining each stockholder's percentage interest, with fractional shares rounded up to the nearest whole share. The exercise prices of outstanding warrants will be adjusted accordingly, resulting in new prices of $115.00 and $140.20 for different warrants. Trading on a split-adjusted basis will commence on April 21, 2023, under the symbol "OUST." Ouster continues to focus on providing affordable, high-performance sensors across various industries, supporting over 850 customers globally.

Ouster reported $41 million in revenue for 2022, achieving a 27% gross margin despite a Q4 revenue decline of 8% year-over-year to $11 million. The company recorded a net loss of $42 million in Q4, up from $28 million in 2021, while full-year losses reached $139 million, up from $94 million. In 2022, Ouster secured $70 million in bookings and shipped over 8,650 sensors. Following its merger with Velodyne in February 2023, Ouster anticipates achieving cost synergies of $75 million within nine months. The company plans to generate $15 million to $17 million in revenue for Q1 2023.

Ouster (NYSE: OUST) has signed a multi-year supply agreement with LASE GmbH to enhance port automation with 3D digital lidar sensors. The deal includes hundreds of Ouster OS sensors through 2025, aimed at retrofitting container terminals and crane systems. LASE's existing installations will leverage these sensors to improve safety and efficiency at ports globally, including locations in Poland, Chile, and the United Kingdom.

The smart port market is projected to grow from $2 billion today to approximately $11 billion by 2030, highlighting the financial potential of this partnership.

Ouster (NYSE: OUST), a key provider of lidar sensors, reported a remarkable 95% increase in demand for smart infrastructure projects in 2022, totaling over 3,500 sensors used across various sectors including intelligent transportation and crowd analytics. The company secured more than 210 projects, driven by the launch of its REV7 sensors and the Ouster Gemini platform. With a growing market for lidar solutions, particularly in urban development and security systems, Ouster is well-positioned for substantial growth in 2023. The ongoing expansion of its partner ecosystem further enhances its competitive edge.

Ouster, Inc. (NYSE: OUST) and Fieldin announced a multi-year supply agreement to deploy over 100 retrofit autonomy kits for tractors in the agricultural sector. This deployment marks the largest of its kind in the industry, with Fieldin already using dozens of kits. Each kit includes Ouster's OS1 lidar sensors, enhancing automation capabilities such as auto-steering and autonomous spraying. The autonomous farming equipment market is projected to reach $95 billion by 2027, and Fieldin aims to modernize the farming process, resulting in cost efficiencies, including up to 87% savings in chemicals for farmers.

Ouster, Inc. (NYSE: OUST) announced plans to showcase its new REV7 sensors and Gemini software at various trade shows in Spring 2023. The REV7 series promises enhanced range and precision for applications in robotaxis and warehouse automation. The Gemini platform aims to improve public safety through real-time monitoring and analytics. These innovations position Ouster to meet growing demands in diverse sectors, supporting its mission of affordable, high-performance sensors.

Ouster, Inc. (NYSE: OUST) announced it will report its Q4 2022 financial results on March 23, 2023, after market close. The company specializes in high-resolution digital lidar sensors for various industries, including automotive and industrial sectors. A conference call is scheduled for the same day at 5:00 p.m. ET to discuss these results. Interested parties can register for the call online or access it via a live webcast. Ouster aims to enhance safety and sustainability with affordable, high-performance sensors, supporting over 850 customers worldwide. More information can be found on their official website.

Ouster, Inc. (NYSE: OUST), a leader in high-resolution digital lidar sensors, announced that CEO Angus Pacala and CFO Mark Weinswig will present at the Baird Vehicle Technology and Mobility Conference on February 15, 2023. The presentation is scheduled for 2:15 p.m. PT / 5:15 p.m. ET. A live and archived audio webcast will be available on Ouster's investor relations website. Ouster aims to enhance safety and sustainability across various industries with its advanced sensor technology, supporting over 850 customers in more than 50 countries.