Ouster Inc (NASDAQ:OUST) reported financial results for the first quarter after the market close on Tuesday. Here’s a rundown of the report.



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<li>Ouster shares are retreating from recent levels. Why are OUST shares down?</li>
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<h2>Ouster Beats Q1 Estimates</h2>



Ouster reported first-quarter revenue of $48.58 million, beating analyst estimates of $46.27 million, according to Benzinga Pro. The company reported a first-quarter loss of 28 cents per share, in line with estimates.



Total revenue increased 49% year-over-year as product revenue increased 55% to $48 million. The company reported total shipments of 12,600 lidar (light detection and ranging) and camera sensors during the quarter.



Ouster ended the quarter with $175 million in cash, cash equivalents, restricted cash and short-term investments.



“The rapid integration and commercial success of our expanded camera vision portfolio was a tailwind during the quarter, with strong demand from companies building foundational AI models and advanced robotics platforms,” said Angus Pacala, CEO of Ouster.



Ouster said it expects second-quarter revenue to be in the range of $49.20 million to $52.50 million, versus estimates of $50.70 million.



Ouster’s management team is currently discussing the quarter on an earnings call that started at 5 p.m. ET.



<h2>OUST Shares Dive After The Bell</h2>



OUST Price Action: Ouster shares were down 11.19% in after-hours, trading at $25.40 at the time of publication on Tuesday, according to Benzinga Pro.



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Image: courtesy of Ouster.

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Ouster Inc (NASDAQ:OUST) reported Q1 earnings with revenue of $48.58 million, surpassing estimates of $46.27 million. However, the company posted a loss of 28 cents per share, aligning with expectations. Despite a 49% year-over-year revenue increase, OUST shares fell 11.19% in after-hours trading to $25.40. Ouster anticipates Q2 revenue between $49.20 million and $52.50 million, slightly below analyst estimates of $50.70 million. CEO Angus Pacala noted strong demand for their camera vision portfolio, contributing to growth.

Ouster Stock Falls On Q1 Earnings: What You Need To Know