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Ouster: New Day


Update - Mar. 27, 2023
Ouster missed a great opportunity to promote the combined business of Velodyne Lidar and Ouster and the company decided to pass. The stock trades below $1 for this reason and management has to own this incompetence. 

-Q4 GAAP EPS of -$0.23 misses by $0.03.
-Revenue of $10.94M (-7.7% Y/Y) misses by $4.9M.
-Secured company record $70 million in bookings in 2022
- Q1'23 revenue guidance of $15 to $17 million, excludes Velodyne revenues through merger close on Feb. 10.

The Q4 revenue total was closer to $25 million and the Q1'23 pro-forma revenue total was probably closer to $21 million.  

Update - Mar. 15, 2023
Pretty nice deal here with 100 Lidar sensors shipped at the end of '22. Ouster shouldn't be trading back below $1. 

-Fieldin has already deployed dozens of kits at its customers’ farms and plans to deploy over 100 autonomy retrofit kits on tractors, each equipped with an Ouster OS1, to major customers across the United States in 2023. Ouster shipped 100 sensors to Fieldin at the end of 2022 as part of its binding agreement, and expects to ship several hundred additional sensors through 2024.

Finviz Chart

Update - Feb. 12
Took long enough, but Velodyne Lidar finally got enough shareholders to actually vote and approve the Ouster deal. Velodyne shares ceased trading on the NASDAQ after market close on February 10, 2023, and each Velodyne share was exchanged for 0.8204 shares of Ouster common stock.

-San Francisco-based LiDAR sensor company Ouster (NYSE:OUST) announced the completion of a merger with Velodyne (NASDAQ:VLDR) on Monday.

-The two companies indicated that their combination will create a stronger company as they seek to capitalize on demand for LiDAR technology. Additionally, the newly combined company will be able to operate with a stronger balance sheet as “over $315M in combined cash: and “annual cost savings in excess of $75M” are expected to result from the merger.

Original article posted on Feb. 3

  • Ouster takes several steps towards closing the Velodyne Lidar deal.
  • The combined Lidar sensor companies can provide $30+ million in Q4'22 revenues, providing legitimacy to the sector growth opportunity.
  • The stock is cheap with a combined $700 million market cap and '25 revenue target still topping this level.
As the merger with Velodyne Lidar (VLDR) approaches the close, the new Ouster (NYSE:OUST) is entering a new day. As the calendar flipped to 2023, the Lidar sector is approaching production deals that start a

Read the full article on Seeking Alpha. 

Disclosure: Long VLDR. Please review the disclaimer page for more details. 


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