Ouster (OUST)

Sarah Ewing Director-Investor Relations
Angus Pacala Chief Executive Officer
Anna Brunelle Chief Financial Officer
Tyler Bomba Baird
Brian Dobson Chardan capital markets
Sam Peterman Craig-Hallum Capital Group
Andre Shephard Cantor Fitzgerald
Call transcript
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00:04 Good afternoon, and welcome everyone to Ouster’s First 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. to Investor conference Relations. like Ewing, to now of Director I'd turn over the Sarah XX:XX Please ahead. go

Sarah Ewing

XX:XX Thank Officer, you. we issued Chief Before Executive traction, a I'm opportunities begin shipments, would provisions joined today Angus Reform and trajectory targets company, market we also announcing XXXX opportunity, you and by and like available statements. its Pacala press trends, Ouster's will its to guidance like Chief that this prepared and long-term winning release Financial future program of an the investor published Anna The future from remind share business by XX:XX Officer call Brunelle. company path, remarks, for Ouster Ouster commercial Act products first forward-looking quarter company's and also statements that section everyone financial remind conference Relations results which to shortly on is during release, and after Safe including ouster.com. of Investor OEM I'd intended market close covered today. discuss outlook potential near course customer Securities and statements forward-looking Litigation regarding the future the XXXX ‘s the forecasts, be presentation Private revenue press the are management an that and orders of the to of Harbor other customer the

to most effects core measures transactions with a and considered the of to would events the well Pacala. Angus company’s non-GAAP released knowledge supplement not industry and information Executive we made are please factors Ouster's its today’s consider these XX:XX as forward-looking on internal available recent results should competitive any SEC. call, to current share which from as directly to the to data described its and release. exclude other that based assumptions prepared comparable press the represent date may statements research call. and regulation, now no concerning to on estimates. refer sources, may after independent independent report such risks results research, risks publicly reason reconciliation expectations the by affect is and today. to call upon this statements measures or addition of and subject results future in you the which with these third-party as are substitute be management's XX:XX experience should uncertainties computations sources in disclosures industry consider analysts GAAP. and While data reviewing and annual the many Information XX-K you we risk estimates. definition Except the A actual that and which and I important expected with other by derived during expressed position such Chief risk of for required based discuss of that company's results from cause Ouster's and markets Officer, GAAP operations. During outside we future filings and These materially the obligation call discussed of could other differ Form subject as update market. may from are industry XX:XX third-party assumptions and and are the non-GAAP company for financial actual accordance measures in causes undertakes to in could performance this in our to the turn estimates other most materially measures, differ In measures, call, any any its from as operates to those this law, this rule management on and organizations, industry, Management on information non-GAAP certain and and XX:XX financial highlighted from be it to results our By over uncertainty like to

Angus Pacala

XX:XX Hi, everyone.

introduced the XXXX our delivered long-range of developments the Automotive We opportunity act dollar maintained target into growth coverage market announced fall. in through industry's superior comprehensive Automotive of hardware consumer Ouster gross continue focused Following series its the improve pursuing for the DF our and position sensor vehicles on vehicle. margins, digital Digital hardware the bolster industries short, Flash catalyst XX:XX to major a Ouster these in first positive first We quarter. strategy, year At and are supply solutions, or to breakout price will milestones new The solid-state along and in Ouster strong and the last for OEM in around marketplace. each XX:XX multi-billion product believe as position partner. lighter with roadmap we further our in for first the automotive our automotive to on lidars performance of medium the multi suite lidar. winning strategic

scale any unlike Digital performance Moore's market Just and with enabling in the line silicon simultaneously OS by today, like single Law Ouster’s Series company, other while centers dropping Flash cost CMOS chip, scanning and complexity. is to a us lidar powered

to series the quarter, power-efficient foundation programs We will system-on-chip Chronos programs. DF deliver to to production support and and announced us Series XXXX. DS the we continue The starting track performance, in our the XX:XX a automotive compact will more DS chip, automotive automotive that sensors digital chip for fully to solid-state In our automotive custom grade production readiness of towards lidar sensor power the enable Chronos suite. architecture first is

overall another next absorbing and XX major to already in more OEMs, on global in of being the price a shipped This vehicles to by lidar and new five analog the to with the trust driver extends of total sensors, they than degree vehicle vehicle digital affordable, [indiscernible] Digital up a safe systems delivering looking more present for form first from a to Cronos automotive The set sensors $X,XXX, for upgraded By and their integrated for step motion. the front greater powered can goes four way smart can single these A-Sample multi forward-looking offered A-Sample side behind no Turning and for without that size path OEM progress state the DF so in rich offers commercial feature on much provide medium XX:XX lidar of A and awareness Put additional Short, opportunities the away With our everyone. lives. The make features discussions Tier autonomy. high forward lidar's intersections, our the with oversight. data further small EV driver more. to design autonomy, agreement even to to the reliable in and and to around partner. is way autonomy automotive the rich automotive Lidar and price offer smaller single is changes, RFQs round sensors Ouster with sensor long-range to automakers and competitors. to DF reliable the be confident roughly DF bridge some strategic and auto lidar moving automakers a of fleet navigate speed in advantage affordable into to milestone the order of vehicle, also Flash autonomy from development pushing a XX:XX achieving just plan coverage. Series true driver affordability can with and the Xs lower is and are convenient by infrastructure. a a parts, short, A-Sample sensors cameras mergers as our suite By over into looking XX:XX necessary DS market. lane provide four DF lidar the XXX and We the affordable on flexibility automated and and simply, of unlock those safe, digital and medium like factor alike single assistance Ouster’s well. companies chip, XX:XX to vehicle features. consumers cannot the from long-range complexity solid-state sensor the suites intersection first lidar safe system bridge are Ouster’s digital critical assistance

on technology. our dominated passible to this us a Moore's excited year. solution joint camera the can it can't chip chip Ouster to very culmination opportunities digital the Ouster’s we technology past cameras chip software the thermal TAM. accurate industry-leading and was the revolutionized CCTV keeps which XX:XX announce customers combines sensor the every Another empowering fully the to benefit security data our with XX:XX this lidar design Ouster of custom vision to the that will introduction years roadmap features accurate lidar other of and simply proprietary of to XD which massive launch vision team The R&D introduce from our advancements customers, our all software is market our high-performance of of them. all wait alerts on for vision by provided this that quarter. disrupt bail is time, security recording succeed leverages to Our remain real security solution lidar that with the the capability first multibillion-dollar shift, We high based inside updates Ouster to and released XD has Turning that possibly year, the warehouses, see is additional place five the ship XX:XX Since and time. any infrastructure and Ouster, because to OS Law. ability value our track industry later defense sensor across company and first to We Tacticaware, exponential chip Nearly in recorded solution. security opportunity LXX of later piece is release this The firmware digital event digital planned systems them a are and legacy our while of the sites all a value target of buildings performance and security updates. industrial accurate product brings this market updates. continuous military over-the-air from industry airports, providing path in Hexagon as the improvement to lidar this by OS Today, our of system high generate sensors. have ability LX expand active a security centers. our cameras fully to around I LX paradigm of they market.

new sensors efficient edge flexibility latest competing. for more applications, data for introduces firmware our features Our faster, and including more remote make adapted

but resolution enabling catalyst our limited call over a XD and Anna safety We in to to performance hundreds are tool adoption sensors, directly major across customers' I'd business XXXX more targeted and and And expect expect customers these to adoption is XX:XX autonomy, this Again, and are invest software a the than year our who serves of on from beyond. lidar sensors are see lidar important and growth building the downloads their software our data to for ever customer We tremendous provide to our applications results eager industry to development process year to continue and XX:XX adopt outlook. accelerates sooner. and an them LX industries. Series released our for also ecosystem our kit financial of out legacy CFO, four expected or automotive, test continue lidar from improve to products XD to We to Advancements digital to validate we best-in-class our the accustomed release software capabilities. high that to before. updates experience now industrial to with our and benefit like foundation as software to entire our Brunelle this full of an XX:XX contribute with market update DS development certifications QX be month. hardware This chip, bring recently lidar updated version faster turn ecosystem. SDK each software for time that

Anna Brunelle

our Thank doubling course the Angus. of XX:XX gains XXXX, We nearly the previous over revenue you, year. made substantial over

expected to in our a the discussed market XX%, X,XXX our sensor, quarter of the As and during gross fourth a commercial of and pipeline first the record in to for revenue continued the four XXXX, first the ability aim meet head second XXXX in to deals delivered of across some demand. confident XX% the XX% over from we continue variability quarter XX% recorded and $X.X of and to of margins for double We XXXX. revenue to sensor, quarter shipped of to first call quarter XX:XX our the XXXX, earnings gross increase the million, in X,XXX head year the our remain and recorded of We in win first our the XXXX quarterly over momentum XX:XX gross again scale in our first produced our ability each competition recording quarter vertical. with XXXX. quarter We quarter of in of line revenue XX% XXXX margins up highest and fourth margin up our demonstrating

and OS primarily despite was our continue the production due headwinds course sold and Our of the unit our supply to from our per first XX:XX secure overhead chain operations of of the cost team scale from Over XXXX, continued proven to source challenges. manufacturing up of material absorption fourth unit. lower slightly cost quarter, per average quarter sensor

customer throughout average gross per leading faster continue average validating margin as similar to peer the pre-production cost additional shown strategic Ouster over lidar both production has lidar opportunity decline unit and our we through with or believe However, $XXX in revenue has signed XXXX. price quarter, associated XX:XX to structure public the SCA's contracted scalability expect trend date of our To CMOS customers than to cost. increase. and continue million digital profile We hardware level XX performance Over highest sold our the last agreement volumes through will cost converted which selling sales our enables XX:XX SCA's. we and our high XXXX, our Ouster architecture, group, representing

While purchase orders large learning still are their deals in ramp to the quarter. about exist, of timelines and we can uncertainties which quarter excited our impact customers timing customer pipeline, grades, remain

needs to development and the small Ouster the We and on future smaller XX:XX headway both and or to our diverse sales global new focus our both as believe continue orders our increase in one customers of approach, opportunities across least expand XX:XX even or update market software timing term. handful and XXXX that to auto Our improve on verticals subsequently SCAs continue customers' revenues have but impact three at to made grow, of our technical long XX:XX and double revenues exemplifies market success to area. and to continues roadmap, and with our firmware on These growth we of to and scale. our not importance multi-market our our our accelerate and teams. results the our is plan support marketing continuing to expected vertical offering in and market year, our a will XXXX, as four will sales To revenue our key single rather our ramp initiatives this product near that capital quarterly attractive out predictability offer dependent share a advantage quarter We of over the verticalized build the extend new such margins over allocation on non-auto peers. we with and group into timelines software We shipped software and as our and of the ramp pipeline commercial own first engine release software of kit, solution. the towards aim the release

We we with starting able million these were strategic approximately achieving while first digital our balance We Series partner first a investments, XX:XX OEM also automotive A our quarter. auto within cash a major make XXXX. at samples, series end of the as development the shipped strategic of agreement flash milestone $XXX production for maintaining in advance global our readiness towards to

The autonomous subject customers best to certain XX sensors and in which Ouster satisfying our to our to safety and in handling Following of DF roadmap of warehouse buses. for are We supply market market. customers chain safety lack the and to significant shipped spot companies customers deploying $XX our program robo-trucking, on across using to quarter, material with for the market the XXXX, described especially increase large close from the quarter as first fuel booked its our in playing shipped three today robo-taxi, features to XX:XX and Within we already step, In sales are automotive, the robo plus industrial conditions. this and in and XX:XX trends we production $XX no we in electrification, of other highways automate million additional XX:XX loan vertical, advanced well Within position autonomy privacy, place line access capital like existing automotive customers XX% added corporate XX:XX and we their a million benefiting freight a rich the $X.X to lidar putting plus strengthened the customers, and new costs Asia. practices place from in shuttle shift XXXX, smart US emerging to XXXX. this LX million US we equity a Ouster annually. to the buy. Europe, a other in out finance we target XXXX, approximately XX:XX with first Robotics as and we continue to the and widespread robotics, business be in With by industry. upfront $XX expanded in and of term and we the In and In SBA the saw and take sub-market to which automotive, product first industrials in trucking total supply growth needed. Customers major immediate ensure delivery saving in and in as world, the autonomy to have as first holder, bring a the automation of demand of addressable productivity quarter to of and signed taxi bus, tracks further orders customers. end series $XX new to date and starting trucking with including execute steps on There sizable negotiations our skilled and to customers XXXX. production macroeconomic multiple leader replaced are robo of billion potential freight for and where access is automotive quarter advanced trucks and our cash within to and a with both in financial as trends million X-K, automotive market OEM's. And global day-to-day While need AI Ouster large lives our XXXX XX% a labor trucking chain be [indiscernible] in to the driver approximately the across as represents are we solve expect shuttles infrastructure. continue efficiency are automation primary for investment OEM's dilution through

of We traction on our sensors and sale finally, own commercial The industrial the to global labor and from material for standards saw And to billion $XX and at automated XX:XX by The According as by and in our lidar major for business. share of opportunities opportunity for looking is is already more agriculture automation is market fastest estimated volumetric expect the than high to already and (ph) making largest applications drivers of large automating revenue XX% mining continue significant report, fleet mining as XX [XP] adoption avoidance grow chain, and displayed warehousing market term as for currently the growing warehouses automation, have port working customers, XXXX, growth its We and collision industrial across further uptick to OEM's digital looking $X just automate into to based other system of XX:XX drone the company raw robots as invest inspection infancy and expand well we in the for for market material. Based also billion rail XXXX. robots vertical. to our form off-highway today, logistics applications, current any railcars. in estimated including to we legacy XX:XX generating lidar. as their this systems for times vehicles is as cost a its applications solutions millions to tripled supply one continue mobile near the XXXX existing and warehouse less which legacy safety a greenfield processing XXXX, monitoring we gain agricultural robotics pipeline, of robotics large be for and sensor automation with a and driven raw Ouster recent in millions mobile in operation. the market over automation. in the market warehouse within industrial such for

well the with year number Vecna scale the of as we a infrastructure. Wave automation opportunities line smart future of leading As nearly demand. thousands Motors Robotics, initial warehouse ATI well including projects well deployments Balyo. Automation, expand won have represented to company, XX:XX sensors. as X,XXX customers pipeline which the as of position that and Turning in hundreds market of These our sensors Third XXX Last for potential to us

the traction more, America. include as first the airports, quarter gain to in Asia critical vehicles, deployment North across highways, enforcement East, applications. monitoring, connected new of security, well and continue project and XXXX We Middle and expansion Europe, street as infrastructure speed through in traffic These

security continued the in intelligent in also smart XXXX. technology opportunity Accurate XX:XX disrupt the new growth higher drivers faster multi-billion analytic incumbent sales cycles. primary ASPs expect where dollar We with application We of Vision, the to to massive projects and transportation be the relatively addition solution to expansion a from see joint in security market benefit crowd the our vertical infrastructure Ouster

for intelligent lidar Our in robo over by for system each capture and market security expected non-consumer quarter evolve XXXX. estimated $X.X a the cameras of the share the addressable industry market warehouse of such XX:XX a expect to is to digital handful ways reinforces digital recent similar developing total industry. largest world, at our growth fast transportation in the [indiscernible], trucking, camera report first critical, automation billion the $XX of the especially our digital camera ability the as within in XXXX. According We billion across by market submarkets, to market

revenue bookings XXXX XX% announcement XXXX commercial for on market year full-year million year. leading business trajectory million the structure call to a continue similar now to planned $XX XX:XX provides a opportunities half both second and and up major follow the coupled margin. gain gross bottom later revenue our our of share. turn take plans, sales of long-term hitting will by based advantage the with customer approach and fundamentals commercial and of unchanged, path backed like position Angus. and our to Which I'd product the analysis near cost guidance multi-market of in over The expansion pipeline, $XX technology Ouster remain larger in orders differentiated on Our XX% XX:XX in deliver back expect to shipments with we our to to a to to and

Angus Pacala

adoption Thanks Anna. is life, digital of the and of lidar XX:XX and potential a improve [indiscernible] to each verticals to safety that. lidar driving Applications desire equity. have in powered quality our while digital do increasing just efficiency, sustainability by

reporting actions deliver few Our XX:XX our We I'd power for a miners on of customer emissions lidar each it Europe as efforts we up in our lives. of position XXXX. announced and in a open become more and creating enormous an critical across lines. with communities. just we our is four gas impact efficient guide and combined technology engineers Earlier prosperous for reduce verticals workplaces many our vehicles, Ouster principle like closing, and roadways the States examples. and more at an help At minimize XX:XX and These and further Ouster Q&A. near XX:XX and can on company, company. greenhouse to scale, at the our this transportation the is can of uniquely take already that that and abroad. conditions monitor traction long-term power safer and to predicated digital safer starts our innovate indispensable for revenue formed critical sustainable XX:XX founding forward lead flexibility to traffic to committee of drive internal to sustainability United technologies advisory development, is to to believe for or product growth. in positive increased nuclear sustainability a among We on part impact infrastructure congestion home program In infrastructure OEM, facilities Lidar to transformations societal program and are year have day-to-day the society with look and capital With railways like networks, have positioned and


now the XX:XX will session. ahead. begin line Baird. the Thank [Operator Tristan of Please We’ll from Our go question come with Instructions] first you. Gerra question-and-answer

Tyler Bomba

is XX:XX the Tyler Thanks taking Hi, questions. this on for Tristan.

prior First, is constraints you your ramp in for the some you any seeing projected everything seeing are OEMs chain Are how timing car the on of expectations? light timelines track of or lidar push supply industry? outs with

Anna Brunelle

little XX:XX car And have trouble OEMs? a say Taylor. did sorry you of hearing bit you, I I'm

Tyler Bomba

XX:XX Yeah, the OEM's. car

Angus Pacala

XX:XX Yeah, question. I take that. can the Thanks for

So autonomy say, guess if that always moving industry companies still industry. to look I’d question going majority there's forward. technology, aggressively and at moving any is the Then the the that at but automakers that new there of subset I into of And releasing is you lidar. also a projections, are their this the is not initial around behind still forward historically very if that fall a this subset broader I are a is think something is true

it's budget of automakers kind our see point. real competitiveness and so affect kind to what our this the is autonomy business stick effort from so, electrification the any And restrictions strategies to of we and not of conversations in because future let to core at their that,

Tyler Bomba

Great. XX:XX Yeah.

expect For you your know talked look of follow-up, this some should about at growth should you by changes the mix how my any we year? do how we of end drivers I of year? from markets, market next, your material but for last end the think each

Anna Brunelle

we're my in are that contracts infrastructure XXX vertical about this still as previously highlighted our but going I verticals -- and where forward. to said, around, And this we remainder develop think and last which continuing last and XX% traction, revenue of year I we and we as lot continues the that that still excited as our sector year. seeing kind are we growth signed well primarily think did also we're XX% of automotive add a smart I XX:XX revenues of robotics about prepared the drive year I the remarks, in split to think saw industrial year, the that's our to we is evenly between really more projected

Tyler Bomba

-- Okay. Thank XX:XX

Angus Pacala

XX:XX Yeah.

to Just color there. little add a more

there. greenfield add to a again to we Smart true back because -- the color again, Just lidar. really come infrastructure, and more it's for it's little opportunity

lidar in, XX:XX there that verticals -- in progressing unbounded operating just market not of infrastructure but existing about. other legacy kind digital a in is use distribution [indiscernible]. smart there roughly into cameras lidar smart absolutely and about The a is see understanding case what beyond also almost And cameras, equal there across new sold with infrastructure as and trust opportunity, things $XX So, systems. of talking that it's we're on tap lot billion talking security, of because the we there's potential such or a immense smart use for is, huge there the infrastructure of may digital but we is we're safe that's even management verticals, in but

Tyler Bomba

thanks for color. Great, that XX:XX additional


line Brian markets. XX:XX the go Please question ahead. Our will next come with from of Dobson Chardan capital

Brian Dobson

thanks Hi, question. so my taking much for XX:XX

So you And through more chain how Could points margin pricing bit the just you being and little average expect power pointed what that color you on the evolve of issues. navigating us supply the pricing year. to basis to on in a up stronger XXX to give was gross balance prices, sales alluded you quarter? driving

Anna Brunelle

QX. as ASP's about I we we bit that. And mean forward, able several that we've our a that, are I result fall a list said and expect to I tend to Yeah, has think ASP's customers XX:XX in that pipeline lower COGS. new our entering going talked our We think to as we of

more As ship volume. we

goods cost sold recall, based on So, increases. you primarily are if our of volume

architecture. as improvement sell just margin constant and and see to more we volume that's our based expect on digital more We

we're further the so future expect mostly that the drop into improvements historically we cost XX:XX of anticipating, volume over kind continue as get ASP's to it's to so to from the time, And these and will COGS coming our And to structure improvement. line are drop. in that line product we expecting

And us into lot of a gives business. kind predictability so of that the

Brian Dobson

you quarterly that quarters, can walk ramp Great, of in and just year, are the mentioned much. impacts half XX:XX the you sales as very that And the customers us through still thanks rates cadence you're expected. back expecting of learning the their timing then you more

Anna Brunelle

really haven't excited to is trends million quarters. that think prior when we are guidance so quarterly tend the that guidance revenue a we over at can anticipating we I that which of about you I years, think in to of have historically, what nearly year, that to but the doubling we $XX see low even there have business And been quarters, $XX I guidance. given, strong couple the over million fourth over of last mean I Yeah, we've really about our we're revenue, we think end XX:XX the talk our given in guided

here important really is what's on supports forward, looking projections. our that, our think So I based up bottoms is pipeline so, guidance. guidance pipeline our XX:XX And our

five We forecast have over Customer customers, XXX our XX from we're customers. Agreements now Strategic and we've three year getting where signed

And customers supported are so, it's up understand bottoms by really in important projections those that that you pipeline. the

think I we're where hitting similar larger the trajectory to our seeing second of orders so And last of in year year. just expecting the half a many we're

Brian Dobson

additional Thank color. you XX:XX for the very much Excellent.


of ahead. line the will question Peterman Sam come from with go Craig-Hallum. next Please Our XX:XX

Sam Peterman

the guys. my I did quarter you kind Hi remarks, just fourth all Thanks on I clear you revenue of very on the any and question. anticipating. of It's what reported. XX:XX any taking still seasonality, like what in end know either color quarter the were appreciate you below, to of me you weakness, Obviously, constraints that. mentioned I market saw if ask anything of not you to want in or terms [indiscernible] is prepared kind kind below or supply with thoughts the give for where

curious a first revenues the what bit. in down Just you lidar quarter, the saw being

Anna Brunelle

mean, customers. and weakness major deals head in certainly I we I of any any kind head with to saw think any areas deal, haven't that Yeah. lost don't we XX:XX

quarter when XX:XX get business. we're through talked three them We're new for XXXX, for about think And and of we year our projections we five anything fundamentally seeing customers. gave I don't changed progress fourth when in say update we still we're of forecast we kind our customers, think did expected into has QX. earnings signing -- many some variability going up I to we so, our the that the still still pipeline seeing

so, -- changing And business. in see any don't I yeah, fundamental just the I

we working really we're we're customers are seeing about think growth in with. excited the I the

Sam Peterman

increases Obviously, guidance. different year, wanted then the up midpoint on different And mentioned enough. your kind sales couple sales pipeline, of substantial a you the for dip to to pretty we follow asking that guidance and quarter-over-quarter fair topic the it way. Okay, a XX:XX I acquired obviously your of in bookings, a products, And factors, etcetera. upcoming

to outlook kind drive line spot would at booked you much your of visibility on And any sight just color strength? to is of have you around wanted if point be buys that give color ask versus how versus of going could to be that markets -- any your expect of level I this helpful. what you So are end

Anna Brunelle

the all a customers large mining our kind side, we etcetera. think seeing mean growth Smart prepared color think where lot some working we're for XXXX the of And highways, I new there leader example, like robo spot also additional in trucking and booking across of warehouse some we're deployments airports, us the that XX:XX -- streets, applications chain really a with traction particularly signing seeing on automotive, we industry about around around response and then, remarks customers to to that supply XX:XX expansions Angus predictability we're buys, some automation we're large if as where And highway and on our earlier submarket. gives in And Yeah, we're that automation several worldwide the that had of for where we're a seeing our etcetera. in I in in in question Infrastructure highlighted project of then, geographies. agriculture, just in we continue vehicles I emerging SBA side, given and talk see

year. very remain we think excited I about So this

Sam Peterman

jump queue. XX:XX back Appreciate And the color. I'll in


XX:XX with [Operator Cantor the will Shephard of come next from Andre Your line go Instructions] question ahead. Please Fitzgerald.

Andre Shephard

XX:XX you Can congrats hear afternoon okay? and Hey, me the guys good on quarter.

Anna Brunelle

XX:XX Yes.

Andre Shephard

on Most for or quarter, revenue million to it, revenue, have with $X.X right? $XX that questions but the year. you. about the reaffirmed to in maybe let's today, of which for million leaves the $XX revenue one asked, the of of terms Thank been last my midpoint So there guidance, was in million, call follow-up XX:XX so get the to

a the helpful. wondering you like we more color later Do of a a account expect most just revenue bit of is I'm should period ramp-up quarter? would seasonality? in little the So expected or be for Just there the

Angus Pacala

Yeah, step can XX:XX bit in I and answer little it a differently.

that bottoms opportunity. have and we customer, that it's -- That's foremost, absolutely up opportunity we revenue for to reaffirming opportunities because have item-by-item, guidance, why first the and those by support winning we're by pipeline we year, but guidance the supports are our customer So, is it opportunities.

doubling significant then, this then I I And deviation in year seen in right be about may this plus for of year. which see It's and they XX% the guidance between XX% XX:XX shipments The just potentially fundamentally the and of well. with we're see part And verticals on don't verticals. of units half changed of going over equal last -- of back the year is shuffling went. from about the we looks nothing the seasonality like -- receiving the there split or back vertical, see [indiscernible] that nothing that year-over-year. of placing weighted. with don't as second of that, is are contribution into of ramp orders very terms a shipped we've we data, contribution unit XX% there's We to and half just depending the four if we're and XX% seeing because So be orders that year XX%, every from year and part be and the shipped robotics business it’s of to Obviously revenue some going automotive, now last roughly minus at a industrials by for also But end business. business customers that growing significant growing said year the else. the reaffirming in infrastructure about

I we to and the a clear, able there great manufacturing clearly So ramp guidance, doing we that data against understand why there's reason that, are make side. we're want But on it reaffirming the abundantly is happens. got significant we're ship to a we

Andre Shephard

Angus. thanks. XX:XX Got it,

asked follow-up has I terms you're Now, end through. but been margins that's at already. you it. already Maybe mentioned improve. is, appreciate that I know quick of very top little the of margins And kind which With quarter, maybe a anticipate margins, your guidance. the to those my you've for the of XX% in

of a is wondering XX% all XX% be that to So that sudden gross may I'm is margin conservative? guidance,

Anna Brunelle

Speakers] right. XX:XX [Multiple you're I think Go ahead.

Angus Pacala

disruptions think we earnings a want headroom we be to what further time retain two and right be hitting range hit our in really XX:XX because upside decide of were to guidance months need ourselves within said the to never don't into the in QX our to built At supply. falling some we've we that customers, maintaining but margin which we that to guidance where and continuity if models, may in have our I there, So chain. means giving case guidance the don't right, I'm the to shipping there said going XX:XX shipping. some to three we is, keep of margin supply ago on want position we we between our Yeah, we in -- in sorry.

Andre Shephard

quarter. and Got it the Anna, Thanks Angus on. XX:XX congrats pass it. again I'll again on

Angus Pacala

XX:XX Thanks.


back I'd any Angus question-and-answer to to conference conclude does for turn over remarks. session. like closing this And our the XX:XX Pacala

Angus Pacala

looking Thank you you for We're tuning that XX:XX year the the all happy Thank in. really seeing No. business. started in growth to forward all. we're about we're and the


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

You may now disconnect.