Ouster

Ouster Exceeds Q3 2023 Revenue Guidance; Achieves Over $120 Million in Annualized Cost Savings; Sets Financial Framework to Help Reach Profitability

Retrieved on: 
Thursday, November 9, 2023
Technology, Robotics, Automotive Manufacturing, Manufacturing, Other Transport, Automotive, Vehicle Technology, Autonomous Driving, Vehicles, Transport, Environment, Sustainability, Software, Hardware, Semiconductor, Webcast, EBITDA, ID, NYSE, Gemini, Investment, DF, Traction, GAAP, Chronos, Deep learning, Original equipment manufacturer, Electron capture, Architecture, Video game, Arms industry, Bank, Cryptocurrency, Ouster, Velodyne

Adjusted EBITDA3 loss improved to $18 million, compared to a loss of $24 million in the second quarter of 2023.

Key Points: 
  • Adjusted EBITDA3 loss improved to $18 million, compared to a loss of $24 million in the second quarter of 2023.
  • The results for the three months ended September 30, 2023 and June 30, 2023 reflect the combined performance of Ouster and Velodyne.
  • Long-term financial framework: Ouster has set a financial framework focused on achieving 30-50% annual revenue growth, expanding gross margins to 35-40%, and maintaining operating expenses at or below third quarter 2023 levels.
  • For the fourth quarter of 2023, Ouster expects to achieve $23 million to $25 million in revenue.

Cyngn's Proprietary Computer Vision Achieves Arauco's Complex Application Requirements by Utilizing Ouster Lidar in a Multi-Sensor System

Retrieved on: 
Tuesday, August 22, 2023
EAS, BYD, Algorithm, AI, Environment, Automation, Bridge, Instrumentation, Ouster

MENLO PARK, Calif., Aug. 22, 2023 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN), a developer of AI-powered autonomous driving solutions for industrial applications, recently secured a pre-order of 100 DriveMod Forklifts from Arauco, a global provider of sustainable forestry products. Once deployed, this order represents up to $5 million in annual recurring EAS license revenues while addressing only a small portion of Arauco's existing forklift fleet.

Key Points: 
  • Arauco initially selected Cyngn for the project based on the Company's demonstrated ability to operate many different vehicle types autonomously using its advanced DriveMod software.
  • With advanced lidar sensing, the DriveMod platform performs at levels higher than autonomous industrial vehicles that use legacy sensor technology.
  • "Cyngn is pushing the boundaries of industrial autonomy with their AI-powered DriveMod platform," said Angus Pacala, CEO of Ouster.
  • Cyngn developed proprietary computer vision algorithms that are bundled into a Pallet Stack Attribute Estimation sub-system within the DriveMod perception stack.

Ouster Appoints New Commercial Head to Lead Next Chapter of Lidar Adoption

Retrieved on: 
Tuesday, August 15, 2023
Vehicle Technology, Automotive, General Automotive, Technology, Software, Hardware, Nate, Senior, Marketing, Postgraduate education, Institut d'optique Graduate School, Intelligence, Multimedia, Atomic, molecular, and optical physics, Organization, Growth, Robotics, NYSE, Global Sales Law Project, Automation, Management, Ouster

View the full release here: https://www.businesswire.com/news/home/20230815467841/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20230815467841/en/
    Cyrille Jacquemet, Senior Vice President of Global Sales at Ouster.
  • (Photo: Business Wire)
    “I am pleased to promote Cyrille to lead our global commercial team and continue the strong momentum we delivered in the first half of the year.
  • “I also want to thank Nate, who transformed Ouster’s commercial operations during our first two years as a public company.
  • “I look forward to leading Ouster’s commercial team to capture the expanding opportunities for this technology.”

Ouster Announces Expansion of Supply Agreements with May Mobility to Support Autonomous Vehicle Deployments Around the Globe

Retrieved on: 
Tuesday, May 16, 2023
Automotive, Technology, Autonomous Driving, Vehicles, Software, Construction & Property, Urban Planning, Hardware, AV, Velodyne, NYSE, Entrepreneurship, AVS, Multimedia, Alpha, Safety, Renewable energy, Instrumentation, Ouster

Ouster, Inc. (NYSE: OUST), a leading provider of high-performance lidar sensors, and May Mobility , a leader in the development and deployment of autonomous vehicle (AV) technology, announced today expansions to their supply agreements to provide lidar sensors for May Mobility’s autonomous vehicle solutions.

Key Points: 
  • Ouster, Inc. (NYSE: OUST), a leading provider of high-performance lidar sensors, and May Mobility , a leader in the development and deployment of autonomous vehicle (AV) technology, announced today expansions to their supply agreements to provide lidar sensors for May Mobility’s autonomous vehicle solutions.
  • View the full release here: https://www.businesswire.com/news/home/20230516005278/en/
    May Mobility autonomous vehicle outfitted with Ouster lidar sensors.
  • “We’re thrilled to supply May Mobility’s suite of lidar sensors, enabling 360-degree coverage for their autonomous vehicles.
  • “Our contract expansion is further evidence of our shared values, strong relationship, and the growing demand for accessible, safe and green transportation across the country.”

Ouster Exceeds Q1 2023 Revenue Guidance; Increases Target for Merger Cost Synergies

Retrieved on: 
Thursday, May 11, 2023
Semiconductor, Automotive, Automotive Manufacturing, General Automotive, Technology, Manufacturing, Performance & Special Interest, L3, Electron capture, Original equipment manufacturer, OS, GAAP, ID, EDT, BlueCity, EBITDA, Traction, DF, Investment, Mining, Motional, Gemini, Webcast, Vecna Robotics, Silicon, Robotics, L4, NYSE, Automation, Film industry, Video game, Cryptocurrency, Velodyne, Ouster

First quarter 2023 financial results are composed of Ouster standalone performance through February 10, 2023 and combined performance of both companies following the merger with Velodyne on February 10, 2023.

Key Points: 
  • First quarter 2023 financial results are composed of Ouster standalone performance through February 10, 2023 and combined performance of both companies following the merger with Velodyne on February 10, 2023.
  • 1 First quarter 2023 revenues include $6.4 million in revenue from Velodyne products following the merger but exclude revenues from Velodyne products prior to the merger on February 10, 2023.
  • Merger Integration: Ouster expects to realize annualized costs synergies greater than previously announced; now targeting $80 to $85 million exiting the fourth quarter of 2023.
  • For the second quarter of 2023, the first full quarter post-merger, Ouster expects to achieve $18 million to $20 million in revenue.

Ouster Awarded Production Win by Motional to be the Exclusive Supplier of Long-Range Lidar for its Autonomous Vehicles

Retrieved on: 
Thursday, May 11, 2023
Software, Other Manufacturing, Hardware, EV, Electric Vehicles, Automotive, Technology, Manufacturing, Other Technology, Learning, Alpha, Hyundai Motor Group, Level 4, Aptiv, Motional, AV, AVS, Robotaxi, NYSE, Bridge, Ouster

The serial production agreement will see Ouster supply Motional with Alpha Prime™ VLS-128 sensors through 2026.

Key Points: 
  • The serial production agreement will see Ouster supply Motional with Alpha Prime™ VLS-128 sensors through 2026.
  • “The Alpha Prime™ delivers the long-range, high-performance capabilities we need for our autonomous vehicle,” said Laura Major, Chief Technology Officer at Motional.
  • “Motional is a leading AV company with large-scale deployments and strong commercial partnerships,” said Angus Pacala, CEO and Co-founder at Ouster.
  • The Alpha Prime™ is a powerful addition to our product portfolio, and one that we expect will continue to drive meaningful new business, particularly for autonomous vehicles.”

Former Chairman of Velodyne, Michael Dee, Suggests Shareholders “Abstain” on the Ouster Merger Vote February 10th until Outstanding Issues Resolved and Terms Improved

Retrieved on: 
Wednesday, February 8, 2023
Other Manufacturing, Technology, Other Defense, Engineering, Satellite, Drones, Aerospace, Manufacturing, Hardware, Defense, Proxy, CFO, Barclays, Audit, Widener University Commonwealth Law School, Background, Judgement, Professional, World Health Organization, .mobi, Ouster, Fairness opinion, Bank of America, Conscience, File, Disclosure, Audit committee, Ethics, Letter, Failure, City, IPO, BofA Securities, Hyundai, Morgan Stanley, Morality, AAA, Wharton School of the University of Pennsylvania, Investment banking, 8-K, Exchange, Robotics, Name, Par value, FINRA, Tax advisor, Airline, Security (finance), Management, Holding company, Mergers and acquisitions, Amazon, Velodyne, Lidar

With additional appropriate and timely disclosures and changes to the merger terms and directors I believe this merger can more successfully benefit the Velodyne shareholders.

Key Points: 
  • With additional appropriate and timely disclosures and changes to the merger terms and directors I believe this merger can more successfully benefit the Velodyne shareholders.
  • Thus, I personally have now concluded that the merger, as is, is not in the best interests of Velodyne shareholders.
  • How is it shareholders are asked to vote for a merger without disclosure of their representatives on the board?
  • I can think of no better entities to make nominations to the new board on behalf of the Velodyne shareholders.

Velodyne Lidar Adjourns Special Meeting of Stockholders to February 10, 2023

Retrieved on: 
Friday, February 3, 2023
Robotics, Vehicle Technology, Automotive, Technology, Autonomous Driving, Vehicles, Software, Hardware, Velodyne Lidar, NYSE, Special, Proxy, Shareholder, Ouster, Holding company, Internet service provider, Velodyne

Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) announced that the Special Meeting of Stockholders ("Special Meeting") scheduled to be held today to approve the proposed merger with Ouster, Inc. (NYSE: OUST) and related matters was convened and adjourned without conducting any business.

Key Points: 
  • Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) announced that the Special Meeting of Stockholders ("Special Meeting") scheduled to be held today to approve the proposed merger with Ouster, Inc. (NYSE: OUST) and related matters was convened and adjourned without conducting any business.
  • The Special Meeting will reconvene at 9:00 a.m. PT on February 10, 2023 and will be held virtually at https://www.virtualshareholdermeeting.com/VLDR2023SM .
  • “Velodyne has adjourned its Special Meeting until next week to continue to solicit additional votes.
  • According to Velodyne bylaws, 50% of shareholders must participate to reach the required quorum for the Special Meeting.

Velodyne Lidar Adjourns Special Meeting of Stockholders to February 3, 2023

Retrieved on: 
Thursday, January 26, 2023
Robotics, Vehicle Technology, Automotive, Technology, Autonomous Driving, Vehicles, Software, Hardware, Velodyne Lidar, Ouster, Mercedes, NYSE, Special, Proxy, Shareholder, Holding company, Internet service provider, Velodyne

Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced that the Special Meeting of Stockholders ("Special Meeting") to approve the proposed merger with Ouster, Inc. (NYSE: OUST) and related matters was convened and adjourned without conducting any business.

Key Points: 
  • Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today announced that the Special Meeting of Stockholders ("Special Meeting") to approve the proposed merger with Ouster, Inc. (NYSE: OUST) and related matters was convened and adjourned without conducting any business.
  • The Special Meeting will reconvene at 9:00 a.m. PT on February 3, 2023.
  • According to Velodyne bylaws, 50% of shareholders must participate to reach the required quorum for the Special Meeting.
  • All stockholders of record as of the close of business on December 5, 2022 are entitled to vote and attend the Special Meeting.

Velodyne Lidar Urges Stockholders to Vote Today in Favor of the Proposed Merger with Ouster, Inc.

Retrieved on: 
Tuesday, January 24, 2023
Software, Hardware, Autonomous Driving, Vehicles, Automotive, Robotics, Technology, Vehicle Technology, Other Technology, Velodyne Lidar, Patent, Security (finance), ISS, Special, Glass, Ouster, Holding company, Internet service provider, Mail, Airline, Velodyne, Shareholder

Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) is urging stockholders to cast their votes in favor of the proposed merger with Ouster.

Key Points: 
  • Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) is urging stockholders to cast their votes in favor of the proposed merger with Ouster.
  • Dr. Tewksbury will serve as Executive Chairman of the combined company upon the successful completion of the proposed merger.
  • We urge stockholders of record to vote today and we thank you in advance for your support.”
    YOUR VOTE IS IMPORTANT: EVERY VOTE COUNTS—NO MATTER THE SIZE OF YOUR POSITION.
  • Velodyne Lidar urges stockholders to please vote “FOR” the Company’s proposed merger with Ouster, Inc.
    Voting Information and How to Vote:
    Voting can be done quickly and easily online at www.proxyvote.com .