Ouster Inc - OUST STOCK NEWS

The U.S. International Trade Commission (ITC) will investigate Hesai Group for infringing on five Ouster patents related to lidar technology. Ouster has filed a complaint requesting a limited exclusion order and a cease and desist order against Hesai to ban the importation of infringing lidar devices into the United States.

Ouster, Inc. reported over $17 million in revenue and $33 million in bookings in Q1 2023. They shipped over 3,000 sensors and achieved a non-GAAP gross margin of 25%. Net loss increased to $177 million primarily due to non-cash charges and operating losses associated with the Velodyne merger. Ouster expects to realize annualized cost synergies of $80 to $85 million. They also provided updates on their business objectives and announced partnerships with Motional and BlueCity.

Ouster, Inc. (NYSE: OUST) has announced the effective date of its 1-for-10 reverse stock split, which occurred on April 20, 2023. Trading on a split-adjusted basis will commence on April 21, 2023. This reverse split consolidates every 10 shares into one and adjusts the exercise terms for outstanding warrants. No fractional shares will be issued; they will be rounded up to the nearest whole share. The exercise price for warrants will also be proportionally adjusted. Ouster aims to enhance shareholder value by improving its stock price and maintain its commitment to delivering high-performance lidar sensors across various industries.

Ouster, Inc. (NYSE: OUST) will report its Q1 2023 financial results on May 11, 2023, after market close. The company specializes in high-resolution digital lidar sensors for various industries, including automotive and robotics. A conference call will take place the same day at 5:00 p.m. ET to discuss the results. Interested parties can register for the call via the company's website or listen to a live webcast. Additionally, a replay will be available for 30 days on Ouster’s investor page. Ouster aims to promote a safer and sustainable future through affordable sensors, supporting over 850 customers across approximately 50 countries.

Ouster, Inc. (NYSE: OUST) announced it received a non-compliance notice from the New York Stock Exchange (NYSE) on April 12, 2023, due to its stock closing below $1.00 over a 30-day trading period. To address this issue, Ouster plans a one-for-ten reverse stock split, effective April 21, 2023. The company has a six-month window to regain compliance with NYSE listing standards, during which its stock will continue trading on the exchange. The notice does not affect the current listing status, and Ouster remains committed to enhancing its business in high-performance lidar sensors across various industries.

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.