Ouster, Inc. (OUST) Stock

Ouster, Inc. (OUST) is a Industrials stock trading at $38.20 (as of 2026-08-20), with a market capitalization of $2.75B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Ouster, Inc. develops and manufactures digital lidar scanning sensors and related software that provide 3D vision. Its offerings include sensor products such as OS and DF, and software for applications across machinery, vehicles, robots, and fixed infrastructure.

Understand Ouster, Inc.: how it makes money

Ouster designs and manufactures high-resolution digital lidar sensors and enabling software for 3D vision, selling products such as OS and DF to machinery, vehicles, robots, and fixed infrastructure, with additional royalty-type revenue reported.

The companys profit model shown here emphasizes converting forward Contracted Revenue Opportunity into recognized Revenue, because the largest quantified driver in the provided data is contracted opportunity (through 2026), while Product Revenue and Royalties Revenue are smaller in the same set.

Business quality (Weak): Forward visibility is a standout (Contracted Revenue Opportunity Through 2026 and Book-To-Bill Ratio are favorable), but current profitability is weak (operating margin is deeply negative), so execution converting that contracted opportunity into revenue matters most.

Bull case

Forward demand visibility: Contracted Revenue Opportunity Through 2026 is 0.57B USD (and 0.50B USD Through 2025), indicating a meaningful backlog-like opportunity horizon in the provided metrics.
Order momentum indicator: Book-To-Bill Ratio is 1.7, which suggests orders and demand are strong relative to recent revenue timing in the provided snapshot.
Commercial activity continues: The company reports Ouster Booked In Business With New And Existing Customers of 0.11B USD and ships lidar and camera sensors (Light Detection And Ranging And Camera Sensors Shipped: 12,600).

Bear case

Loss-making at the operating level: Operating margin is -39.5%, showing costs exceed operating profit in the latest period shown.
Revenue is small relative to contracted opportunity: In the provided figures, Revenue is 0.04B USD while Contracted Revenue Opportunity Through 2026 is 0.57B USD, which raises execution and timing risk from opportunity to recognized revenue.
Category mix suggests limited diversification of near-term results: Product Revenue is 0.05B USD and Royalties Revenue is 0.02B USD in the provided set, indicating profitability could remain sensitive if product and royalty contributions do not scale.

Valuation — source: SEC EDGAR (first-party)
Price	$38.20
Market Cap	$2.75B
Price / Book	7.42
Price / Sales	14.40
FCF Yield	-2.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$169.38M
Net Margin	-35.6%
Revenue Growth (YoY)	52.5%
EPS Growth (YoY)	-48.6%
FCF Growth (YoY)	73.2%

Financial Health — source: SEC EDGAR
Altman Z-Score	13.00 (safe)

Valuation vs Sector & Industry
Sector P/E (Industrials)	25.9
Industry P/E (Machinery)	32.3

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($102.12M)
Institutional Holders Tracked	10

Company
Sector	Industrials
Industry	Machinery
CEO	Charles Angus Pacala
Employees	292
Country	US
IPO Date	2020-10-09

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Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.