OUST - OusterEPS of -$6.03 revenue of $17.23M misses by $0.07M

2023-05-11 17:06:32 ET

• Ouster press release ( NYSE: OUST ): Q1 EPS of -$6.03 may not be comparable to consensus of -$0.84.
• Net loss increased to $177 million in the first quarter of 2023 primarily due to the non-cash goodwill impairment charges of $99 million and higher operating losses associated with Velodyne merger, compared to $32 million in the first quarter of 2022.
• Revenue of $17.23M (+101.3% Y/Y) misses by $0.07M .

• Over $17 million in revenue and $33 million in bookings in the first quarter 2023

  Shipped REV7 sensors to over 110 customers in the first quarter 2023

  Now targeting annualized merger cost synergies of between $80 and $85 million

• For the second quarter of 2023, the first full quarter post-merger, Ouster expects to achieve $18 million to $20 million in revenue.

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