Short answer
Ouster, Inc. (OUST) filed its fiscal 2025 10-K annual report with the SEC on Mar 2, 2026. It reported revenue of $169M (+52.5% year over year) and net income of −$60M.
- Top risk flagged: No geopolitical or macroeconomic threat detailed in provided text
FY2025 key financial metrics · XBRL
- Revenue
- $169M
- +52.5% YoY
- Net income
- −$60M
- +37.8% YoY
- Operating margin
- -43.7%
- +50.1 pp YoY
- Gross margin
- 49.3%
- +12.8 pp YoY
- EPS (diluted)
- −$1.07
- +48.6% YoY
- ROE
- -23.1%
- +30.6 pp YoY
- Operating cash flow
- −$40M
- −18.6% YoY
Source: XBRL data from the Ouster, Inc. (OUST) FY2025 10-K on SEC EDGAR. USD.
Ouster, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: unified platform for Physical AI combining digital lidar, cameras, AI compute, sensor fusion, perception software, and AI models
- New emphasis: 2026 acquisition of Stereolabs SAS expanding into AI camera vision and perception solutions, enhancing software capabilities
- Strategic shift: integration of Stereolabs ZED camera and AI compute products to forge first unified sensing and perception platform for Physical AI
- Notable metric: Velodyne lidar scanning products discontinued by end 2025; focus shifting to OS and DF sensor lines with ongoing semiconductor upgrades
- Unique fact: First FY filing post-2026 merger and acquisition activity highlighting evolution from lidar-only to multi-modal sensing and integrated software platform
Management Discussion & Analysis
- Revenue $169.4M, up 52% YoY from $111.1M, driven by $22.8M royalties and sensor sales volume growth
- Gross margin 49% vs 36% YoY, cost of revenue 51% vs 64%
- Best segment: Asia Pacific revenue $54.2M up 169%, worst: EMEA revenue $23.1M down 29%
- No interest expense in 2025 vs $1.8M in 2024, $8.0M employee retention credit received in 2025
- Management cautious on near-term fluctuations, expects margin improvement, highlights innovation risks and supply chain uncertainties
Risk Factors
- No geopolitical or macroeconomic threat detailed in provided text
- Cybersecurity risk managed by Senior Director with 15+ years experience, including PCI Qualified Security Assessor certification
- No named competitor or technology disruption risk mentioned in provided text
- Governance risk mitigated by regular Board and Audit Committee oversight of cybersecurity program
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