Ouster (OUST) financial statements
Ouster reported revenue of $169M in fiscal 2025, up 56.8% a year over 6 years.
Net income was -$60M and the operating margin -43.7%, against -423.8% in 2019.
Free cash flow was -$65M.
The diluted share count rose 7523% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Ouster's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $11M | $19M | $34M | $41M | $83M | $111M | $169M |
| Cost of revenue | $17M | $17M | $24M | $30M | $75M | $71M | $86M |
| Gross profit | -$6M | $2M | $9M | $11M | $8M | $40M | $83M |
| Research and development | $23M | $23M | $35M | $64M | $91M | $58M | $65M |
| Selling, general and admin | $19M | $30M | $74M | $92M | $124M | $87M | $92M |
| Operating income | -$48M | -$52M | -$100M | -$145M | -$373M | -$104M | -$74M |
| Interest expense | $4M | $3M | $504,000 | $3M | $9M | $2M | $0 |
| Pre-tax income | -$52M | -$106M | -$97M | -$138M | -$374M | -$97M | -$63M |
| Income tax | $1,000 | $375,000 | -$3M | $305,000 | $523,000 | $537,000 | -$3M |
| Net income | -$52M | -$107M | -$94M | -$139M | -$374M | -$97M | -$60M |
| EPS (diluted) | -$69.90 | -$59.80 | -$7.00 | -$7.79 | -$10.10 | -$2.08 | -$1.07 |
| Diluted shares | 1M | 2M | 13M | 18M | 37M | 47M | 56M |
| Gross margin | -52.7% | 8.0% | 27.1% | 26.6% | 10.0% | 36.4% | 49.3% |
| Operating margin | -423.8% | -273.8% | -297.0% | -354.4% | -448.1% | -93.8% | -43.7% |
| Net margin | -452.7% | -564.9% | -279.9% | -337.7% | -449.2% | -87.3% | -35.6% |
Balance sheet
Fiscal years, from Ouster's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $17M | $11M | $183M | $123M | $192M | $175M | $211M |
| Receivables | — | $2M | $11M | $11M | $15M | $18M | $28M |
| Inventory | — | $5M | $7M | $20M | $23M | $16M | $24M |
| Total current assets | — | $21M | $207M | $162M | $263M | $220M | $279M |
| Property, plant and equipment | — | $10M | $10M | $10M | $10M | $10M | $32M |
| Goodwill | — | $0 | $51M | $51M | $0 | — | $0 |
| Total assets | — | $46M | $308M | $256M | $331M | $276M | $350M |
| Total current liabilities | — | $21M | $22M | $29M | $82M | $78M | $71M |
| Long-term debt | — | — | $0 | $40M | $44M | $0 | — |
| Total liabilities | — | $83M | $47M | $85M | $151M | $95M | $88M |
| Shareholders' equity | -$100M | -$76M | $261M | $172M | $180M | $181M | $262M |
| Net debt | -$17M | -$11M | -$183M | -$83M | -$7M | -$46M | -$67M |
Cash flow
Fiscal years, from Ouster's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$40M | -$42M | -$71M | -$111M | -$138M | -$34M | -$40M |
| Capital spending | $7M | $4M | $4M | $5M | $3M | $4M | $25M |
| Free cash flow | -$48M | -$46M | -$75M | -$116M | -$141M | -$37M | -$65M |
| Stock-based compensation | $1M | $12M | $25M | $33M | $58M | $40M | $41M |
| Share buybacks (net) | $0 | $0 | -$45,000 | -$45,000 | $0 | — | — |
| Net borrowing | — | — | — | $0 | -$44M | — | — |
| Free cash flow margin | -417.8% | -241.4% | -224.4% | -283.0% | -169.2% | -33.7% | -38.3% |
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Open OUST in InvestinglyQuestions
What was Ouster's revenue in 2025?
$169M in fiscal 2025, from its 10-K filing.
How much free cash flow does Ouster generate?
-$65M in fiscal 2025 (operating cash flow minus capital spending).
From Ouster's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.