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Ouster (OUST)

Participants
Angus Pacala Chief Executive Officer
Anna Brunelle Chief Financial Officer
Sarah Ewing Director of Investor Relations
Tristan Gerra Baird
Itay Micheaeli Citi
Blayne Curtis Barclays
Richard Shannon Craig-Hallum Capital Group
Kevin Cassidy Rosenblatt Securities
Jonathan Bailey Argos
Call transcript
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Operator

Good afternoon and welcome everyone to Ouster's Third Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After today's presentation and remarks, there will be an opportunity to ask questions. [Operator Instructions]. The call today is being recorded and a replay of the call will be available on the Ouster Investor Relations website an hour after the completion of this call. turn Relations, over please to Director Sarah like Investor of go now the to conference Ewing, I'd ahead.

Sarah Ewing

Anna and Thank today you. Financial Pacala by joined Officer, Chief Ouster Chief Good Executive Officer, afternoon. Brunelle. I'm Angus

Investor with the Before of available we would of remind XXXX intended section forward-looking announcing report to that published the Relations business Safe you Company. The conference that financial release this call, is investor everyone SEC remarks, Ouster's on in results issued the which press Harbor outlook market provisions Future third management an that was Securities like customer XXXX. Company including Reform statements The remind close regarding orders Private a forecasts, today. the other today. filed to also ouster.com. Ouster to its Company's with Form will Company's begin be on the prepared the the and of we quarter Act is like shortly release, during presentation, press of after by also Litigation course discuss current the covered I'd targets, X-K,

forward-looking For statements.

today, represent subject that and expectations future current the performance actual statements results results cause to could from actual and about expectations. as materially projections these While many those management's risks uncertainties of Ouster's are results and differ to

for obligation the after any important earnings in Company that these as factors today's the call. to no call, during by Except of may future highlighted SEC, risks reason statements recent most this of law, its described required date any filings results release. update the forward-looking Ouster's to are addition with undertakes any In press applicable including affect the

analysts Company's upon and released information publicly as call independent the as sources, industry industry organizations. research Lastly, and be concerning are reviewing knowledge industry are the well reasonable. and data results position, Company's on it the sources which to and estimate. which derived management research, risks, cause the by industry, materially discussed available and information and Other from and from information and operates and data, in other internal is it such from differ estimates such based on uncertainty made those third-party from this markets, believes could competitive on which These assumptions to [Indiscernible] assumptions independent to in subject experiencing are third-party markets the expressed based of

exclude considered non-GAAP consider a outside the transactions During we accordance non-GAAP a the GAAP. be will measures and be call, financial prepared which measures to of should to and supplement discuss with These in operations. core we events for certain not measures effects our substitute

Chief a our to release. reconciliation press most to non-GAAP measures, turn I please directly the Angus Executive to Pacala. to call of Officer, the measures over refer would financial today's like GAAP now comparable For

Angus Pacala

We've Smart market Infrastructure, accomplished to the advancements of in bolsters Hi gross Robotics. generated revenue the recent and Sense of verticals: a in Industrial, technology of commercial the and everyone. months continued by across automotive Photonics, each four quarter, which the our In and our highlighted market. lot market in non-automated our in acquisition the continued gain traction in We Automotive, million strategic position third $X.X Ouster XX%. share margins

we these SCAs opportunity are number years. million revenue contracted $XXX XX. to X,XXX ramp over sensors. customers confidence of from that Collectively, continue our total over grow increased production, and to new XXXX, SCAs which We our customer over give XX roughly strategic the well-positioned meaningfully represent to shipping We revenue added our us XX coming through agreements, in

and through announced over Karin Board automotive XX solidifies Scania. Leader, experience and role Karin Mercedes-Benz that an Ouster She expertise experience appointment of an expertise. the Earlier formation as leading further sales her roles building Radstrom to advisory governance. Ouster's Turning of Directors. across today, of and and to automotive addition of markets, and Trucks, CEO marketing leadership current Ouster at is brings combined Automotive global our board announced invaluable years recently of of knowledge with past our decades member of the industry enterprises. addressable and Daimler and luminaries board deep at Trucks, made up leading Global

Digital Digital technology customer array do Lidar To developing verticals. Since on Porsche, wide the and building Board experience and aimed to innovative have automotive automation enable logistics This to Directors some across industry moving yard invaluable, performance safer committed to product in inception, offering four Siemens, to SLYR, industries and and as and former Marelli, AM capture to port on we've of will a adoption from multi-billion applications current focused families, of and from ABB, most and products General, of experience Cummins, of our including industries so, dollar multiple combined spanning Ford. Our technology and our meet at lidar the Advisory Lidar mass affordable strategy more leaders founding and serve. Group are be our ZF and is infrastructure Acura, the TAM. industrial, Ouster based our sectors, wide efficient a scanning shaping all decades members solid-state companies future executive smart and companies GE, Honda, a the Board its we consumer of range We're vehicles. quickly Vitesco, through and our Advisory Board we spending of

Lead division sense commercial we Company Ouster of McIntire. by the consumer driving acquisition Digital Photonics, market Shauna on the of formed focused With functional new Automotive, mass CEO and of a former in adoption Sense vehicles. Lidar

by and we've licensed a XXX accelerated increased and IP will patents. for be XX to technology. It Ouster has exclusively belief it our And been in has industry by commercial expand that IP [Indiscernible] been dominated over the road Furthermore, and space. digital is map, we critical patents, our this its granted, engagements product XXX to portfolio and over automotive our year. pending result, a As

employees. no in DF automakers seamlessly ADAS, with Ouster alike. ladder time moving suites follow range integrating is we built and our powerhouse roughly series meet cost a vehicles. digital low and is Lidar only achieve short, reducing is absolutely is best-in-class cameras, automotive is radar on is of certification, come. and a to in long We're on-road anticipates lidar previous XXXs Digital and Automotive automotive across making to our is that medium, to of into for core the suite Automotive combined team automotive lidar Lidar quality an just We verticals offering the also functional With that the sensors, become series is sensor to with XXX DF the win affordability, for lead short, to competitive the that maintain grew costs long building our can to and ideal supplier for started the And building and a believe ones acquired to for safety single vehicle But believe partner over meet parts, and for prototype Ouster similar that full-time DF our ASIL-D recently and DF that solid-state the contracted standard architecture range production deliver offering, functional only solid-state XXXX. of years believe of high-volume reliability, automotive it offering with Automakers digital looking has while trajectory can all technology performance positioned we flash readiness Over uniquely the we Digital start and programs this of and with these for automakers one-stop-shop, automotive design. entire together. Ouster the $X,XXX. digital multi-sensor solid-state is that Combining for requirements, the will technology that medium OEM meet platform, CMOS the to time, And of best the that of performance, digital platform, technology our potential need. anticipated beginning. price developing at reaching to radar but for Tier dollars. the week, Based series on introduced technology on and requirement. are Lidar the Ouster points and asking down programs including automotive lidar overall performance price and we Last for Ouster's realistically the automotive advanced that is roadmap one designed sensors. in exceptional for of production requirements automaker of requirements XXXX. production the an moving of cost systems, and the series a OEMs Like modern day curve us in automotive deliver a camera a it are

collaboration These to Automotive development different to we flagship by ability sensors with negotiations million programs, has excited awarded brings by also onsite on suites to samples of meet this L-X with lidar ship to potential continue we major to suite QX timeframe. continued that XXXX have series billion the we'll worth the the a to $X achieving to our While over We're global functional up QX year. production strategic and progressed automotive expect as Ouster's of demand and vehicles. for proof lidar X milestone multi-sensor earlier OEMs Lidar market revenue, another systems XXXX are need automotive multi-sensor production that a about need. In available solid-state OEM, Ouster in single to further advance value on October, in and OEM in to X.X in aggregate deliver functional Company for with B our is samples an collectively a to This today, customers XXXX. partner, [Indiscernible] agreement. sourcing Ouster prototypes positioned for sense XXXX for potential the deal development testing shipped Bid

chip will improve massive to looking the and richer all sensors. completing chip sensors. the small rapidly of the size forthcoming delivering and improve our low data draw, more determined all even through rest performance the our drive weather demonstrate to boost feel tape We in look which the cloud chip our LXX Both performance newest our LXX, we The win scanning fabrication. we and providing on data of well-positioned our forward couple has and product the yet, within the customers also progress to of Ouster's we ago, expect the most continued these of market quarters. CMOS new which business, in across powerful updating programs OS across on I signing to delivering and XX the partner industry introduced out, OS chip [Indiscernible] LXX be forward same to is our Last our next deliver weeks while double another chip next over roadmap. for of one capable our the of we're A to months; subsequent prior maintaining verticals. quarter, performance digital the power LX power sensors, or roadmap point ability our Ouster will and to completed LX the progress year. rate

last outlook. ago, month new weeks few our We hundreds we And vehicle suite NVIDIA so a call With integration of and with OS I'm our NVIDIA our Anna as perception LXX business new the further provide turn onto alone, response simplify system partners to the XX then develop to platforms. also saw now autonomous software of We're over partnered quarterly to our to a also further dedicated With far. applications. DriveWorks like we sensor with to Lidar plug-in financial from across development on complete happy traction A I'd downloads. accelerate Brunelle SDK. smart community infrastructure markets, the or seeing incredibly version development the fantastic part SDK Ouster our results, across of of industrial, integrators software released update to robotic chip. kit we and Digital major customer with And the and external an intend over adoption that, engagement

Anna Brunelle

Angus. Thank you,

to agreement, significant impact XXX% increase from on to common This Under shares our XX roadmap and quarterly all our and both to headcount of the Before of deal, faster offset Digital will Photonics property million that the product the major year. savings as progressing it we terms by acquisition chip an roadmap resulting importance with fourth our in hiring Ouster expects design XXXX additional of solid-state stock-based onsite structure. a a on accelerate wins TAM product this shipping is XXXX, testing OEM Flash accretive automotive ability automotive flagship third acquired series fees I excluding the the for Through Ouster and Sense stock. compete multi-billion-dollar spend moving position all to October results, R&D and is quarters and in revenues than in of compensation, to excellent of design goals of that on the our reiterate outs with its timeline solid-state our XXXX. to and technology sooner to acquisition approximately tape our by deal, be the management want revenue of for Ouster. expected. Ouster solid-state Even development for same cost executing our the Ouster’s on the us puts also capture ramp expected help stock without related sensors OpEx with are working acquisition, in to Ouster

we momentum series milestones on production. continue key We believe we well-positioned progress are to excited our deliver towards to and about and are

at price We focused also vehicle for that is suite programs aggregate over potential $X a enable securing negotiations to vehicles. Series reliable, Programs will X.X Automotive that performant, multi-sensor continue is to in adoption. Production demand these up potential X worth and of manufacturable Each advance the point lidar an million revenue a of billion with on highly collectively

to Angus providing As more months look forward next the determined XX the be programs we details. within potential to mentioned, and expect

third our XXXX. third to record We over performance. a $X.X revenue, quarter X,XXX increase over million generated shipped of XXX% quarter XX% Turning up XXXX. period in we nearly Ouster have With tripled sensors the over the sensors, in a the X,XXX prior year. over of third same through year quarter sensors of the the sold sold approximately the quarter, this number third

delivered on gross most selling the to our continue is of our volumes continue average gross have XX% unit XXXX. than Over time, sensors up decline performant affordable margins. positive Lidar most will we're the our We of also only of chosen makes And hardware as cost technology, Lidar, Digital expect believe the because in XX% third one per We we market. from quarter right and average our sold the largely which faster to the sales Company increase. public margins price we with CMOS this

continued revenue this spite from will to challenges. expect chain margin meet targets, our us gross of We supply in allow and headwinds

purchase potential customer our and and ability We associated to continue to price monitor downside with the timelines. chip control risks shortage worldwide semiconductor variance

As third customers. our earnings, of ability to impacted shortages to these quarter our sensors the not have ship materially

experience we keep order However, fee in to and up continue with product bulk variance temporary to purchases to expedited demand. related shipment purchase price

XX new customer by new the of grew last we quarter, Robotics with our from coming Over vertical. pipeline customers, customers nearly the half

third XX% revenue growth largest making customers in XX% sales in from quarter, sales has and and Our new sector, of existing of up been the year-to-date. the automotive

continue the we to for year. remainder grows, of believe pipeline our As the Ouster’s revenue will ramp

have excited about large that are we in us quarter, manufacturing anticipate But deliver, confidence our deal giving we exist. close will our deals commercial fourth forecast. While to that the teams meet fourth-quarter timelines and uncertainties continued and we'll

and our we to for our in during $XX margins. provide guidance such, of million reaffirming gross Further, full-year full-year to as XXXX earnings million are we XXXX anticipated, As revenue, XX% fourth-quarter guidance release. XXXX $XX will XX%

SCAs customers end at to-date, binding signed in value contracted to approximately XXXX. XX revenue representing converted an This from this pre has the the production XX% versus we level SCA. XXXX, customer up million the agreement or Over means QX we XX agreements last million quarter, of and a additional $XXX Ouster Most -production second X opportunity strategic of increased our notably, by the quarter. and SCAs through quarter $XXX

year. These of use vehicle next-generation XXXX, New and SCA to tens thousands sensors to for GSN, vehicle with sensors Perrone additional early as we announced the for for opportunity as XXXX. applications over customers through plan this forecasted supply X their sensors of customers Robotics, we quarter autonomous of include plan which through that Local publicly scanning fourth X,XXX have deploy and per Motors, a systems to X

duration binding cases, purchase using sum When and Company They and the stated agreement became an will important framework actual we revenue programs Contracted include non-binding forecasts, to also been opportunity opportunity for public customer's establish included cash products non-binding Ouster long-term commitments. are over previous multiyear has the and teams, where beyond revenue accelerate supply applications requirements, for our specific we be software marketing forecast. agreed a committed about development benchmark products multi-billion-dollar March, no both multiyear the to commitments, used. our investments to and customer last roadmap, to us. and binding sales of of build the some detail we believe SCAs take Ouster our growing and and for Ouster upon we include purchase proceeds advantage the customer quarters, the As out mutually in purchasing and the They the customer in include represents purchase strengthen additional a multiyear in visibility hardware Ouster giving and customers pricing of TAM.

introduction our so and there. additional across teams markets. at chip, with the using production business which our minimal accelerated our and efficiently across the DS engineering and our And value. of chip the lidar distribution, growth. our Through to significant footprint our our take These certified to industry IATF leaves our faster our expect stickiness. We we are digital LX board our we each to quarter. with Through adoption Photonics, X our of room our And run This with on automotive able differentiated have software all-stock business Automotive driving We allocation in manufacturer third $XXX advantage the improve and further building sensor Thailand grow execute important to of stable we automotive-focused did performance, In expanded largest solid-state We and we the market commercial opportunities to production a end furthering towards adoption vertical, for ourselves were Ouster's path to scanning a our grow to design automotive high-volume of the capital of of of commercial in of the multimarket one LXX increase of programs. customer the partners, achievements digital With sensors. demand integration would on and software’s, short, on Ouster our perception Further it lidar to Sense business technology, remarks. formation these us XXXXX our and rate, to also over verticals, new while approach, market us I addressable cost opportunities our commitments, and some while cash across end continue balance sales marketing, road allowing do drive build performance additional are to within sensor plan. investments that about across to maintaining for impact while that able Series, position its million with improve steps make closing X most ahead. on roadmap, Ouster key share the Angus our sensor will our product CMOS diversified automotive capital like turn while structure. progressed incredibly facility, simultaneously planned continues continued verticals, near-term back executing with stop the execute strategy to taking excited am with acquisition and strategy, not I to our recently series at with scaled wins for contract to significantly

Angus Pacala

continue questions. excited to from Anna. what's differentiated our proven to a incredibly technology, And that come. Thanks, date more will answering industry: hardware execute. takeaways I and what and improve the of Ouster and industries is lidar life. to proud here look we've of ability by Three to rest accomplished business, about solutions beyond to of world to diversified our and separate build quality your Ouster best-in-class our I'm the efficient forward safer, transform delivering

Operator

to please Instructions]. question-and-answer called We begin questions. the session. yourselves will upon, [Operator X now limit When

go Baird, Our first Gerra from comes Tristan with question today please ahead.

Tristan Gerra

afternoon. Good Hi.

question First the is top-line. regarding

in the full-year your revenue the some quarter. reiterating revenue guidance, are by you point December implying quarterly for So inflection

your also, perhaps look of amount today? it there easing what point color to what a some on the revenue that profile, your we of trying a mix inflection is provide could you current gross there margin Is creates competition? to If more bit at how should and color substantial [Indiscernible] on revenue, get

Anna Brunelle

-- this Yeah is on

Sarah Ewing

go and in ahead -- I Anna. can jump

Anna Brunelle

the develop about year quarter, Sorry deeper pipeline has terms of grow. release that relationships the with in new we've our and say worked continued and to products to customers; continued and through that. as [Indiscernible] fourth

the Our continued SCA answer visibility And deals also. reiterate is I'll has fourth pause Angus wanted have for I just that us quarter. to grow and to there to because think guidance what allowed

Angus Pacala

Yeah.

from and We've building the think I a this been get we investing towards when to by the by the mature point mature customers huge public. went QX. the mature from start amounts or March year really entire has systems, -- been of team, to business year,

our And team now are has our customers. have that so, the our all and great of quarter, kind ramp investing historically we business, tailwinds base, just year-end mature a -- a for QX of lot year, customer lot this maturing and biggest of on and always top have there fact been and we been visibility of and into

for for no -- really been those in able XXXX had hardware sales, vast -- and NRE I the may you revenue numbers, versus all of terms think we all reasons, reaffirm has been the haven't for And business, splitting revenue if excuse the I we're in revenue. NRE majority, but we've future. to out, that Though, but change product not, think the in the year. historically, guidance the So about then the question had a so NRE that me,

Tristan Gerra

your mentioned the there autonomy, object terms if very the follow-up as call, question, efforts that's my goals could goes NVIDIA well then recognition. engagement that [Indiscernible]. that in beyond a terms details software Great, and platform on for of having you you of what in just [Indiscernible] as And are specifically, your more provide highway on for,

Angus Pacala

Yes.

put And help the NVIDIA in because value stack diversified around approach, as so provide we our software. multi-pronged of we important at to Without Ouster. winning how sockets taking door you have have don't we that of you of it And a and get foundation overall in But that, business up. to the one that thing almost opportunity and one core of of don't and the first this kind walk we're at the is And And strategy winning to [Indiscernible] strategy sell the we have software aspect is the of think customers. customers. our a hardware through in can I can pyramid context. is kind part most business to building --

through is enable this the all to a to our sticky customer tools. So long-term on of hardware, with on highly our opportunity riding really engagement top software set though relies that customers development

Some integrations about of across specifically our developed which which this of and are earlier with in-house, [Indiscernible] software SDK, been we've But with and partners released that talking our through updated. year some diversified end markets.

then robotics updates space of and be website, full where NVIDIA makes And ecosystem the next provide, the now. software and SDK, for sits business. solutions NVIDIA side. is seamlessly is of their continued or it a in you go certain the And we to hire integrators we'll integrators into so me, we've in are to excuse complete had the so on have and upon Ottawa, sense. or software that's we specifically in in solutions are as right and to automotive. And to hardware and we sensors is in out. that agricultural the we have -- But as solution you arm That space, space, our able to website, solution and providing of XX And customers investing [Indiscernible] and then one as DriveWorks autonomy, that that it's in they span listed -- selected -- our different plan actually QX way pointed of then go-forward we solutions cases, opened for that XX verticals. on have that plug-in the office the on Building there where couple customer quarters. NVIDIA if Canada, that. work ecosystem NVIDIA kind that space, come the in industrial partners But more mentioned our our highway a out to focused the

Tristan Gerra

Great. Thanks for that.

Operator

comes Itay go ahead. Citi, next Our please question from with Micheaeli

Itay Micheaeli

afternoon, Great. Thanks. Good everybody.

supply any two Just side, from margin first Was for margin affect material quarter in gross the other One costs affected gross the on maybe Anna. well? the and maybe quarter, the on this the there quarter, chain outlook of or questions as and gross fourth margin me. could

Anna Brunelle

seeing bit in and how part talked headwinds mean, around still from global as problem we I we're shortages a some remarks about the semiconductor shortages. prepared worldwide our

to yes, We we continue the price we monitor and [Indiscernible] continue margins purchase this work have we maintained all control needed. seen still we'll XX% is our I products think risk, gross timelines. downside to our got impact. able variance and to so, And that the And were of they ensure some that that customer the answer quarter; meet to customers still

And we so now, an as margins on right don't some it additional our than on having pressure other business. see impact the

Itay Micheaeli

Great. That's very longer-term helpful. a And then on margin. gross question Automotive just secondly,

auto? number production looking is still acquisition. changed? completed Now that any with you [Indiscernible] Sense series kind Just X or target recent programs, of potentially you're to the XX% that that updated Photonics transaction within [Indiscernible] and Is right for the thoughts the prior long-term margin gross

Anna Brunelle

[Indiscernible] year Yes. the go I ago. you're Oh, Angus. ahead, out materials mean, think to a put I like

Angus Pacala

thinking; don't year was ago that that say see reason pretty significantly and Yeah. that has based to of automotive a on nothing there. changed good understanding any Well, we going I to margins change -- the was

theme industry dominated that overarching a be and is products. in deals. high we And on XX% realistic just know well back of from set. well-positioned peer it. confirmed this the more that the [Indiscernible] performance if absolutely And one being have though competitive on about think most continues to was of extraordinarily the the I we to; goes is expecting now we're as auto we are and that hardware offer and price Sense that aspect, to industry has technology hardware this margins, realistic important s then, than the price margins most, pricing not for most margin acquisition the winning business in the expectations We're in our

we update So that the but with. there, of went into [Indiscernible] the year no real reconfirmation a

Anna Brunelle

what also [Indiscernible] I think, our quickly that Well, too insight have strong cost really really into we structure. also

doing years. many already manufacturing of our products are for outsource We

actually will timelines. think than we confidence have having working group costs and also benchmark, for and And certified peer our facility time market manufacturing with for be, and so long a our our I more products in now, what

And so, feel good to in out my about all. we what mind change, I should continue things and we'll we've put that pretty think that about with you talk

Itay Micheaeli

Perfect. you. helpful. very That's all That's all. Thank

Operator

Curtis question comes Barclays. Please with Blayne next ahead. go Your from

Blayne Curtis

for you a Angus, milestones, one. get you to but Thanks I'm to us the I you curious maybe the know if afternoon. pipeline, And I passed mean, acquired, more just speak taking through definitive you could question. walk you particularly you [Indiscernible] some product. only said there. automotive just key my could the timing can Good when milestones they next before have of recently

Angus Pacala

Sure.

our in said Because that's be to next have any deals in a series the X selected and the And beforehand that is will be moving XXXX, to we to what date deal selected. the case, all automotive specific technology determined in party where months. production, suppliers and production. winning as the get call manufacturing they of So actually amount time it commercialize XXXX must these into XX of

next opportunities X XX not this as confident set of next decided. a -- months. go into isn't year new come favor I'm or that a LiDar. in of our But more of we -- one And just play. rolling there little automotive in every like in end. so off, them And There's one will It's the actually they're And be will opportunities. the deals these the in out fall ones

opportunities time of, be, continue and just as out and goes that we will in come so time-frame kind the new And chasing to move that XXXX always XXXX will on.

win that and expectation, in confident X X I that close production a these with able to deals. So we'll my -- the of XX something next months, be I'm series

Blayne Curtis

the more on want so go, follow-up guiding large step one for question and only I it, you're it's a on know guide -- annual obviously quarter to and have you December to Tristan's you effectively just up. I

I this big sure, contribution I make So the step as contribution questions. to but I speaking just no for What's said just NRE, think to but more no for two days. you've color very any just a have been revenue, very Sense wanted just Photonics revenue, I small bit I Angus so material sure little maybe in up think driving want One, has then time-frame. December? early make to, And it's little there's grown QX

Anna Brunelle

Yeah, I marketing size of we, a just course kind to ago doubled sales more talked I the about year. teams minute mean, a is what the over I our of that, than question and Angus of and think similar the when we've

products. plans. continue SCA [Indiscernible] the signing insight forward release with their We new production giving to We're on customers into and the us just been business moving we've momentum

So think moving. we're where I that's

of Sense having numbers is point historically, Your about small revenue accurate.

X one we'll for is which combined extent making But the very production hardware that next the we're into seen discussing around Ouster hopefully the Sense talked for for up this And NRE, year XX well moving deals, bit moving closure right obviously XXXX. building your combining historically, now, so are deals And with what revenue doing the those be forecast, of the we've months. and December. a absolutely. in connection not have our the deals forecast about sales significant forward, we're now Our NRE down forecast obviously, towards could NRE, we question come road, a to But

Blayne Curtis

you. Thank

Operator

comes Group. question with Capital Your ahead. go Shannon Please Craig-Hallum Richard from next

Richard Shannon

Thanks for taking my questions.

think big last the I that follow-up question to be have going it's think investors here. next a I asking call be until conference your the I here, will is on one

Are if fourth small or requires XX% between end able deals it a one guess you sequential I I expecting the quarter, is: here bridge very bottom mean, be weigh, just So I number you help to the bottling ask to of third we'd and through growth. will

smaller to ones, relative at sense So larger to a of deals whether a just of base a few your current want least here. or lot is get this

be please. If that'd great, you details, provide us could

Anna Brunelle

quarter. I quite I a QX. think in add few we customers to added XX new We customers every continue mean, Yeah.

So don't obviously, we large to customers. continue to of a sell number

I we larger customers from that's questioned over are our time? expectation. business Then, think we seeing are more the grows yes, as and activity around,

Richard Shannon

maybe engagement probably even here about My the or the Okay. with pipeline question, SCAs I Xnd here. is profile your for talked think the Angus, SCAs end of markets and for

that a modalities. those now You sensor specifically historically of That by sensors right out obviously, and sort Robotics. and the you other than talk dynamics of Maybe bit some market lidar's expensive space specifically more about called can of if is cameras here. driven

Maybe looking that you at? big seeing here customers What the they need Robotics So are for what engagement any are there. in lidar? these profile pickup

Angus Pacala

applications digital you that of operated smallest factor, -- on form And onto think -- to for product to Great machines. ideal sensor number flying, Serve [Indiscernible] ability putting makes different on an that smaller the are last sweet mile putting applications. smaller -- Postmates the form mean, And Amazon device vehicle. the lightest you of this that robots, hit excuse where or at excuse have when I factor going that the of -- can these it is me, robotics a think the type Robotics, battery certain a delivery are sensors market, spot, walking, point another delivery power cases. a of of price that all robotics in renewed - then of you lot operated combined [Indiscernible], size, we vehicles form the have example, Sure. really -- customers smaller examples devices, factor of that a onto [Indiscernible] Robotics, enable smart really point, efficient, those warehouse devices me, it weight, platform. surveying power, [Indiscernible] drones, And lidar that's flying XD requires battery like hit and on all is scale most one robotics a weight logistics

price the point then combining enables the with So specifications that product now just industry. and whole --

today. that I products So hitting with why an that's inflection set we're and point customer our think

Richard Shannon

follow-up I a that's here. last just getting price pricing a guess prices, on of forward lot here, one varying And interest that that roadmap your -- here,

of or is calling maybe that because activity on you're -- mind suggesting share here based that. the of So

Angus Pacala

Say that again.

Richard Shannon

there digital costs engagement leveraging Your for or Robotics Lidar essentially mindshare competition. -- The was Digital profiling about last comment in talking here the Ouster. [Indiscernible] about CMOS lower increase an of technology, is kind that

Angus Pacala

do core That's verticals. I in across -- applications automotive, necessary our Well, dropping to is verticals. have. to volume clearly we goals going that to faster that X enabling of mean, and new across while true enables is continue we're our vast X pricing our goal here COGS pricing Sure. provide to able it's that, obviously, but that have high And obviously, we confidence and our do to we're very than

that done historically. have We

awareness no extraordinarily in the that compelling like market this performance price, So capture question applications. there's can factor, is there's that combinations Ouster that's emerging and provide Ouster form of things an new, -- uniquely to robotics positioned

Richard Shannon

the Thanks. appreciate That's I all for all detail. me.

Operator

Securities. Your ahead. go next with from Rosenblatt Kevin question Cassidy comes Please

Kevin Cassidy

to about you're you give are Which on you with you that markets do and sales little to they marketing And they build congratulations what you are or progress distributors your stocking details And of the can you. on a wanted demand? they distribution, address? more out making. that, the But is? going Thank partnerships And with talked the nature create great new effort. have

Angus Pacala

help cropped a most pure partners, Its if it. our with supply to not Yeah. is website set. ecosystem kind, go that's just some rich most engineering end stage, of requires that integrators. a some you again customer partners our resellers distribution, to and some of XX around value-add They're mostly of there's on up our customers But partner that to of value-add And sort. our there

there. we each companies sub are to and we verticals want who really a we're good to one selective actually make across our market and they with working of then, behalf there's that in with products of our well-positioned, the sell our So and sure verticals relationship that are and

those a view So it's now. relationship not as thing which pure in right cases, a good we distributor

Kevin Cassidy

also of percentage -- those outlook, that's revenue you you do great, okay. the would when your think distributors? look what Yeah, go further And through

Angus Pacala

I can I don't think you direction. give

it's minority or just SCA if healthy such X our have of -- we a X our customers. internal the of look we or from growth around have Automotive our maybe any whether years things accounts business volume business to tail. will I of across at will SCAs the long think we There that you go any get such, our when larger through that the ramps, they key customer a customers the is information or now. small major -- dominate distributors because In like our

Kevin Cassidy

you. Thank Great. Okay.

Operator

Next question ahead. go Bailey Jonathan from Please comes Argos. with

Jonathan Bailey

by the and Thank you. on another understand intrigued compelling. [Indiscernible]. board use of how backgrounds you compensation, their kind of congratulations I'm delivery. like plan to resumes the Angus, I'd and them put advisory momentum stellar how to you together, Anna, [Indiscernible] and

Angus Pacala

Sure.

all, Ouster. for impressive of the really last the a bit we've with question. and compensated And taken we're at well, So group of that great in looking This people. thanks -- of they're in quarter, initiative is a first it's equity a

we a mostly diversity you I it's learn an executive global as can if for -- have place, because they're no very that leading lot advise really just, an you're doing there's the about and of a to -- it's a relevant to So -- just interesting shift in global think, That's such -- this autonomy. organization. customers

more am that And about learns back in Ouster, -- to each reason that and Advisory had well. going they more running goes and as is compelling learn me be that's advise of our are these places informative think Ouster that sub-vertical one verticals to by able the to strategy. have to of more a these and to have sub-verticals a important to and about helpful, having they're go-to-market after other decades people as this go-to-market global but of I going becoming going we is compensation there's is, go building here their organizations, deep success, where deeply think start customers, where opportunity experience other I for Ouster that's this I with And identifying fast our super worth then have So be Board and experience we the and and targeted And global more [Indiscernible] people is the executives organization X a thing and industries. of requisite these think really the people I advising are why about been from excited it, interested there's you strategy most on on. and ongoing

Jonathan Bailey

the want obviously, Thank since development to over [Indiscernible]? in you multiyear relationships at Are term -- longer [Indiscernible] That time learning the for excited about the or things and you. quarter. feel just build be [Indiscernible] said, the less less Would period? had we'll confident I guidance been understand [Indiscernible] you that you And the speaking next the the with And 'XX you say any and confident more X specificity. months you've of make we public. more projections that about on complete you or

Anna Brunelle

-- put revenue in at just we've take has that program early out the stab to years can accelerating we've a our just significant of months out automotive single say as year, that the potential acquisition. that by add the That some a quick and forecast really through I about ago. talked

And continued more, everything when the the the happy lot that with told reported execution we've mean, cylinders we've activities roadmap that and remarks, just on so earlier we've the very on promises, the for the several a do the went ago. when you out, tape last in covered of months public in of that new so all was etc. made that SDK and all speak, we to X fulfilling our LXX do set would streets really we've been of whether to had over we're it or prepared that we we months, the look we've we on chip activity back of I and that was seen the all year, that so and firing all

and potentially that opportunities automotive. we're think excited is, this really future position solidify So in the is as heavily really going it to I about I timeline. adds a acquisition the think that really pulling excited where we've about and put our how de–[Indiscernible] some we're excited we're and forecast leader the at, And from we're out growth in in out-years, about really where additional

Jonathan Bailey

quarter. Once Great that's fantastic. Anna, again, congratulations.

Operator

would That Pacala closing I conference does session. Angus back over the to any our turn remarks. and answer for to question conclude like

Angus Pacala

about for excited in what you tuning lies incredibly Ouster. for all am I Thank earnings our for ahead Great. call.

ability markets, actually a themselves make you, quarter diversified ahead. plan so to had continued diversified Thank and Digital our forward on strategy good we think to year the prove technology, LiDar and fantastic with looking have differentiated to technology next and I that all. I'm -- the

Operator

has the attending you today's gentlemen, Ladies for presentation. now conference Thank and concluded.

disconnect You lines. may now your