Ouster Shares Fall After Q2 Results: Here's Why
Portfolio Pulse from Erica Kollmann
Ouster Inc. (NYSE:OUST) shares fell after the company reported Q2 financial results. Despite beating EPS estimates, revenue slightly missed expectations. The company shipped over 4,000 sensors and saw improved gross margins. However, Q3 revenue guidance was below consensus estimates.
August 13, 2024 | 8:34 pm
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Ouster Inc. reported Q2 losses of 53 cents per share, beating estimates, but revenue of $26.99 million missed expectations. Improved gross margins and strong sensor shipments were noted, but Q3 revenue guidance was below consensus.
Despite beating EPS estimates, Ouster's revenue missed expectations and Q3 guidance was below consensus, leading to a significant drop in share price. The market reacted negatively to the revenue miss and lower guidance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100