- Earnings call transcript Q3 2022

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Operator

Good afternoon and welcome to Ouster’s Third Quarter Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After today’s presentation and remarks there will be an opportunity to ask questions [Operator Instructions] The call today is being recorded and a replay of the call will be available on the Ouster Investor Relations website an hour after the completion of this call. I now would like to turn the conference over to Sarah Ewing, Director of Investor Relations. Please go ahead.

Sarah Ewing

good and operator you, afternoon everyone. Thank for earnings call. you joining us quarter third XXXX our for Thank I’m by Chief Financial joined Pacala Officer, Angus today Anna Ouster’s Chief Brunelle. Officer, Executive and

new initiatives, of benefits Harbor Company’s from opportunities, of of that the to I available and and are issued a by cause long-term provisions traction investor also Velodyne, should outlook trajectory course Securities share Reform ouster.com. such and you and potential statements release results release, the the will section we expectations future Private and forward-looking anticipated and also prepared financial its will of Litigation ability that technological Before results estimate Safe opportunities, total Ouster’s third market published on that results agreements, presentation, regarded management’s revenue to press statements of to the achieve. remind representation differ regarding results path this XXXX to releases, today. to risks Act Relations benefits forecasts, future forward-looking plans statements XXXX that may press Velodyne. guidance performance, and proposed of and and statements management products, its and future subject conference we be strategic customer proposed Ouster represent would an Thus, in and future applications merger materially intended customer customer actual announcing begin target, call, with like the like today could are other merger trends, Investor forecast, market to expected equal from current discuss not to share earlier remind that Ouster’s business savings would quarter orders the a remarks, potential and be Company’s we the is with including be and during its expectations which company, you the advancements uncertainties these cost commercial recognize product near company covered The of the for everyone actual targets shipments,

or In may other future this described recent you Ouster’s important call, results highlighted that Form of in and and forward-looking with any furnishes Form disclosures risk Except of on date obligation call. statements the the to no annual rule any to after factors this SEC. update required regulation, other by as reports affect its XX-K addition as Company the these Company should for on reason the risks XX-Q report the or quarterly law, report undertakes files during most to consider any

and discussed are sources concerning independent as industry industry information analysts on estimates sources, this third-party the it and competitive markets is research based available industry other released derived position organizations, and in By markets. estimates. which well data expressed experience end reviewing from based assumptions results and knowledge and and uncertainty internal its on upon to subject in could assumptions the the and made those computation are from to and Company’s other on the publicly from information such definition, of are Lastly, which independent reasonable such from third-party cause differ call risks, in which information in as research materially operates management by Company’s data industry

core a and our for, in a transactions exclude outside we not our may consider operations this outlined supplement financial as press which release. non-GAAP with These should to be measures, be we events prepared the non-GAAP in substitute accordance During measures to of effects considered GAAP. call, certain measures discuss as and

release. refer over I comparable the like directly to to press of to reconciliation measures a GAAP call today’s Angus. to non-GAAP financial please For now most would the measures, turn

Angus Pacala

quarter, increase third third joining margins selling Sarah. We in us price and our XX% a at an XX%. everyone shipped Ouster’s year. we history so delivered of in second afternoon, worldwide highest million Good for a ever, gross average XXXX $X,XXX you thank recording quarter Ouster XX.X for sensors representing quarter you, over Thank terrific today. revenue, while last also highest over the the and had did

to business continue new or signed customers approximately XX with XX XX-months total We new SCAs. grow Customer customer over countries. approximately XXX We Agreements bring count to our four our across Strategic

to During the current SCA total quarter, bring XX. count third our

upgraded and delivered OS our supported obtainable on breakthrough operations serviceable strong doubled our world product our roadmap is launch chip, all in ability songs executed we teams, the sensor. sensor While our game also market in to changer deals. growth our win since by entering first of LX we expansion set are expanded our and market commercial a with suite quarterly new This class, OSDome and the of through an it REVX, our largest and

LX Engineered A prospective of technologies. chip our a to Moore’s improvement displace a Our precision is new range, customers illumination, in maximum chip customers within max, in now improvement XX% a eventually are can exponential consuming to transistors computational allows Law Xd and us the to of counting in Xx aligned growing continues previous second. our industry. enables that while state-of-the-art focus on trillion sensor million legacy capable amount and less we XX object to Xx than capability of Products set in packs across many processing increase per and XXX This fast per apart second, to design features X.X deliver and compact XXX of the digital detection area. power the with die incredible photon approximately semiconductor up the million generations. XXx on REVX LX backside offer the power the With output processing sensitivity Digital an giga markets. approximately path performance a lidar in sensors XX.XX points photons increase and more

opens near for of range REVX, the improves detection. ability unique of bus expect vehicles or directions. high customer to many the signal essential set. operators. This excellent OSX as fencing higher challenging can mile feedback based forks of REVX for density are cables, beyond objects an improvement from cases, and up applications quarter a performance a with point With and on shuttle customers also and category LX alike the makes the cars, are mapping and robotaxi, use track Automotive combination forklift. we and longer-range, also in all fit extended tires, range incredible black on truck The range new unlocking objects precision all on direct such REVX upgraded The XXx industrial of this long a speed detection

a hundred OSX and REVX for choice increases from REVX some time, several for and the the for reliability We applications Class working multiyear scaling SCA demand performance REVX production commercial sensors transit clear are Ouster’s their incredible of X seeing trucks trucks. signed buses, for center made of including it REVX first XXXX. and us of OSX After our through customers. yard customer with

with largest are retail seeing technology of for companies, adopters also several hundred ordered initial OSDome, has one We the rollout of of which traction sensors their the in of analytics already early stores. world’s including some cloud

including analytics software venues active operational boost event analytics cloud and of sensor partner part an technology at its the businesses SkyFi solution optimize globe, stores. experience, international is major cloud deployments to and to revenue OSDome across guest have plans a also company, the airports, Our as help enhance offer and early efficiency. several the of adopter retail and SkyFi, global Ouster

With OSDome, the are we to more use unique with and better into cases customers. capabilities of existing sell positioned deployments the scale

customers. REVX from and are thrilled our fantastic early of response new We with suite performance the product

benefits excited for are wide manufacturers hemispherical autonomous we all requirements sensor our sensors coverage, suite, floor handling get OSDome forklift, shipments. adoption will enable mobile to by forklift The an with applications. to material and high We into also fit as robot production of the hands more upgrades Complemented fleets. field to the this of equipment ceiling and products RAVX’s excellent configured industrial meet recently for on a pricing support XD area Ouster’s of new quarter performance are with volume production to released the and ramp unique industrial view

the to automation offerings expect We estimated warehouse $XX into expansion billion accelerate new these market.

the B slated provides of market. With premise upcoming our be to advancements that on samples same and Tier the range automotive our makers chip, the after incredible paved the our applications. seeing eager LX Xs the first is first into now incredible Digital with precision abatement glimpse consistent LX and possible with to lidar are sensors of of what performing XXXX. samples, have will the The applying be Ouster’s also testing in of the advancements integrated powered Flash silicon digital custom sensors, to or for Auto automotive grade DEF architecture performance next responded sensors in offer highest we upcoming DEF by which year. begin the for It units a REVX, the improvements will and way family alike DFA DS receiver fully the power

While product future, as drivers new catalyze as and our vertical the a product major software also upgrades features and solutions. represent safety foreseeable for which performance we to will access for certifications business, business, significant on growth have specific well

expanding SIL-X with closer XX% and and that and are for NEMA safe safety of include The upgrades and for option we ASIL-B us next doubling to made achieving based All certifications. is approximately within form included in sensors same TX draw applications an vibration, industrial their thousand safety lightweight We upgraded to TFX while towards for REVX XX-months. on factor automotive offer and and maintaining mechanical OS certifications the track a FPGA power to even These automotive and put certifications electrical market previous applications for these certifications Ethernet. power and the for industrial infrastructure components generations. achieve smart the efficient XX small, resistance feature design sensors IATF-XXXXX brake automotive, to automotive functional shock qualified our functionally reducing REVX

solutions. stickiness, to an revenues customers time see and margin market also drive We through to immense software higher build speed verticalized opportunity our

of partner to new In verticalized and platform software that build time continue and three best-in-class expanded solutions We integrate to firmware. reduce that margin sensors, provides validate experience updated built development and revenues. customers targeted tools SDK the version pillars, to robust our on software drive foundational quarter, and customers, solutions and and Ouster the our our customers higher test, to resources a software released we new an a to third ecosystem bring

with ubiquitous. I to beginning strategy been our to ability as infrastructure technology lidar We next lidar choice and generate our across working believe test sensors performance affordable, development, in I’m more That is just our reduce empower simulation, and more of customers continue optimize capital deployment said, our more started as is the make create, perception including execution provider our the our synthetic have we autonomous more year. mind, data about for the that ever to to steps have cash expand in and software partner ousters of what models of in release strategy confident intuition. on and excited A and to of this structure in ecosystem. I solutions and synthetic proactive we our third autonomy to took gross to With data of accelerates systems spend quarter. systems. a And digital store requires intelligent early our cost make share winning are applications. clear to management. thoughtful we software the for This it sensor applied platform

and lidar and While across position, to This with and our markets opportunity to profitability, drive of advantage Velodyne. to these value runway we exciting steps stock equals Velodyne customers, that shareholders. of we to of plan creation and another an bolstered merger our are announced significant path our financial merge for all merging taking expected company is with strengthen the our our accelerate fast further growing morning, our adoption cash transaction

to we combined including leading As world-class technology a as offerings, by Executive company deep history, a offer and lidar verticalized product organization. Together, and board, of will the strong a balance serve with set software broader customers. sheet, Ted CEO one commercial new led Tewksbury can leading robust Chairman industry be of company we

creating customers market, purchasing our synergies aligns society, and and accelerates a and the while wider reduce value deliver the sensors roadmap for expect customers with against like radar. costs for Overall, a resources shareholders. profitability and broader scaled product the the enhancing through competitiveness proposed scale merger of cost needs Develop time cameras and stronger reach with a performance of low net and solutions product combined of merger to company something future to significant established to a to our ability that modalities We accelerating volume other cast manufacturing. strengthen set this unlock to proposed

on the companies which market the half first strategy build upon combined the information to excited expected is of both of more to providing are our We forward in closing, look strengths. around I with XXXX.

published on our and our company year. websites the who our over both information it now update Brunelle our of I more proposed release please Anna on to to refer for the webcasts For joint remainder today. on and expectations turn will an third merger, will earlier quarter the performance provide CFO,

Anna Brunelle

everyone. Thank you, good Angus and afternoon,

third in of revenue positive history third XXXX XX% up highest XX%. our second XX% quarterly in XX% quarter the quarter shipped over quarter, third the from Continuing a sensors shipped we We the and the XX.X to-date. of margins which XXXX, gross QX, approximately gross sensors of recorded margins we second Angus XX% over in stated in the to the X% from As third million, second the of amounts margin quarter X,XXX over our third XXXX. in the Ouster’s of the quarter gross quarter recorded further up up saw and traction, quarter the Up in of of XXXX, gross highest recorded at XXXX, XXXX. delivering margin XX,XXX improvement increase

the sales at strong our quarter, remained Over price unit third over $XXXX. per the course average of

the performance third While sold unit continues $XXXX we of which verticals public new highest of price Americas, with slight across margin our to cost we customers, with group, variance the Ouster to well scalability decrease peer In validating leading quarter, as and and both Europe, hardware Middle enables CMOS to gross cost. and associated Africa. the architecture, XX the digital primarily our sensors per saw growth seen approximately quarter. have a particularly at purchase structure in high our in out as cost lidar lower sold lidar East profile in due our approximately

year. from of recorded end the the the we at of XX of quarter this SCAs Additionally, number XX the the second quarter, end through increase third to of

quarter customers revenue the trends, substantial for customers, was material growth accounted new Our third robotics of XX% inspection existing In with in industrial line as respectively. and from sales handling, as for this applications. global growth for verticals and largest orders drone found and robotic ongoing well XX% and included the in security

a the to crowd continued as in other meaningful our and verticals with growth, our SCAs customers market approximately also to capitalize steady and buses, orders by which verticals. space. well We including to analytics customers, is is large on opportunities trucks able growing exemplified as infrastructure traction automotive from broad smart in range of a see for XXX expanding of support number four multiyear across Ouster our

eliminating can ramp on single a sell CMOS are and uncertainties multiple architecture digital verticals, market rates While us flexible, estimated to forecasts impact our dependency within market. into enables adoption customers

of customers. XX year we ongoing our Turning bottoms We market. the remainder analysis target to some and XX% of expectations XXXX year, ongoing are our margin our to of for macro Despite competitiveness our the reiterating full ramp guidance of economic confident in our in remain million XX%. up for XXXX XX or delayed to resulting for the and revenue staggered rates gross pressures, in million

strengthen we During objectives. pillars strategic target our fundraising three the in-line spend, to progress and third announced call, second accelerated quarter, Ouster’s growth. we these position, with financial quarter make continued In earnings to including

expenditures and XX%, cash spend cash quarter gross reduction inventory. second capital across expenditures, XXXX. a more operational reduction First, for compared announced represents based we initiatives gross annualized to than spend target of on of lower spend, the cash This to

quarter, the was balance received from a October, of Second, merger second down in through of $XX Further, on strategic we in loan maintained the $X.X term suspended lender third for $XXX the market the At the cash fundraising Equals of million, which million the approximately of consent raised approximately first offering, and end quarter. efforts, at drew focusing we million. facility. tranche the planned on in remaining the million our we $XX September,

this for and submarkets our by market spend, groundbreaking expected to OS closing, across is provide applications. new accelerated call combined execute back growth, more to growth sensor would now looks products, obtainable launch range occur flexibility to the the which Ouster course, Ouster the a REVX business following up currently pillars, and additional in about each announced Ouster and bolster merger steps first within our to efforts of providing information the which our the commercial traction by like of Ouster’s Collectively, company We half Finally, primarily strategy on strategic across mapping of accelerate each target as position our through to XXXX. Velodyne. serviceable, Angus. chip, market targeted turn additional financing opportunities, look over LX of took longer morning, to plan. forward these And to of proposed doubles I the powered all-stock opening through the with collective with

Angus Pacala

year the and and our next shareholder eager is growth. like great Velodyne, products, Thank the a product scaling and sustainable announcements Ouster for energized safer and building value about it a of remainder sustainable a lidar more adoption for merger across We early that remain and to to our sustain lidar, open I would adoption to building team bolster you, the business on position profitable close growing can end of with excited Anna. digital up growth focused the to financial future. about markets fast slated on mission upcoming our And Q&A. XXXX, accelerate drive our proposed building with and of great that,

Operator

you. Thank

remains the Instructions] Please today line which management question ahead. that first with a questions, comes only exclusive I go merger on connection subject Rosenblatt. [Operator from to basis, of in of address Before the we want the call with open Cassidy Our questions Kevin standalone Velodyne everyone to proposed Ouster, with will completion. remind to Ouster

Kevin Cassidy

congratulations on the results. taking and on merger proposed or my Thanks question And strong the Yes. for announced merger. also

Just reaching seems the numbers? point million your for is like It the XX in are one question a year those at to range range What XX this for factors the million. year. large

Angus Pacala

Thanks Kevin. cover you that? the Yes. want question, do Anna, to for

Anna Brunelle

Yes. Happy to.

really were Kevin, seeing our QX we about we think this REVX interests hit XXX. our from I quarter count, saw immense the customer about and that. great in And from given increased just to to a are have expecting XXX guidance customer and the launch

we XX% QX. funnel our the QX so looking we forward remember a in at strong, margins, to on XX% we And great to may having came similarly, and in history. guided is are margins, really just then you And to our highest saw XX%,

those of strong all So guidance. our and things really confidence us a together gave reiterating

Kevin Cassidy

a great. soon Okay of as it was you’re will the percentage very And, XXXX? strong. that ship you do the think to impressive significant your quarter REVX as launch it is REVX be more to going ready you of very that you say announced ramp revenue off it into what and be first is Can in

Angus Pacala

is Kevin, yes, a that great question.

we being But into divisions So be quarters, majority across multiple eventually between ramp the and of be REVX will we REVX our ramping different. no absolutely vast revenue. typically will our production

REVX we revenue revenue from this significant the a that coming take couple But to we it will revenue really ship quarter. of So will majority transition before quarters line.

Kevin Cassidy

Thank great. you. Okay,

Operator

line Please Sheppard quick question of from go comes with Cantor next Your ahead. Fitzgerald. the Andres

Andres Sheppard

when for know now of revenue expect do questions ramping what couple let us quick like in agreements, and start strategic you materializing opportunities to A customer the that translate number to does increased In that Thanks. those you to through maybe looks just XXXX of terms Can up? or XX. regards it me.

Angus Pacala

points couple a So here.

to binding agreements that, the all changed have year, first beginning the they a we customer to The that of require our is component. strategic approach at

FTAs. that really the a increase we important So And note. is just for signing threshold

year this off a signed realizing have we signed are already. of revenue SCA and all deals binding component, those So

your on taking already opportunity. are potential those then effect. So to And contracted revenue question

will that chose gone that left number release, leave You our because earnings the notice while up. we it to out of we out, has

a their updates a can climate. stand we case, And the just a in number to can we have just our stand macroeconomic giving reluctance gone it. number we give a behind provide some could We uncertainty into given it to and wanted behind cases, number, We situation even stand in feel forecasts instead where has to from concrete we feel kind seen market of this of customers technically don’t have don’t we that though run behind we up.

how the are chain opportunity, difficulty and like looking revenue we at that in reason can approach businesses. So ability customers because the contract is are Again, in be we having forecasting cases. some things our impacting case supply that their revise their difficulty having they ship to that, might of are uncertainty, to

of on hopefully raised are And perfectly trying we critical we overall, increase, is and be left is public. makes now open and are why contracts, that these bar that counts the to beginning And a at at we So, where were a SCA to active signed be sense. place a to continuing of But out. the went year. what we half are we which given fantastic XX ago the year is

Andres Sheppard

to that follow-up, do know foresee And helpful, it Angus, how as Velodyne. at merger the Thank you. for is thanks, maybe all? changing capital your needs pertains you curious, Understood, if that I’m very indeed. with my

Angus Pacala

this build Yes, to I a a big opportunity the financially. part merger company mean, strong is of

at here outside the So close deal. need of goals of dilution the the capital and limit limit to absolutely for the one is

complete provided forward haven’t a We outlook, looking outlook.

combined closing to year. absolutely, much We clarity major it a of company. do more benefit in that upon first provides profitability deal the will half as is next the a the But here that path on

Andres Sheppard

it again, Congrats will Angus. Thank me. I Thanks Wonderful. on. pass that you. is for it

Operator

comes next Gerra from with question of Baird. Tristan Your the line

is line open. Your now

Tyler Bomba

next two Hi, ramp the burn production? but this questions taking slow building an needed in spending will point, hits be as on on Tyler the previous years revenue inflection Thanks accelerate expect for off we is more question. Should or to the cash Tristan. to

Angus Pacala

there. Thanks for the question

cash expect decrease for we overtime. burn So to

the between in outlined hand as cost of company better deal for and profitability XXX over as have two clarity reduce companies of cash the grows, clarity the combined there. companies as with up so some question. the between we burn time. part a on provides cash meaning synergies the million the path company, this that to No Hopefully and much QX as on provides As expect million XX of

Tyler Bomba

Yes. great. That is

Anna Brunelle

I was don’t if too, you I that going to could on a mind. little say just build bit,

as demand lidar. incredible to see continue just are, digital increased We REVX we for seen reception and we to with said, expect

so is you profitability. in know, we line cost obviously, that to structure the on top to we that And growth, have feel get us place right path

And so per and quarter year, EBITDA use we you we have look we if cash don’t think expect before XX so used a each far business. I to side, of need about And at have significant QX this we for run our be amount year the million similar. on CapEx million or quarter then to mentioned XX CapEx the this

We And so or little it per have quarter. it per year. about quarter, per but a million about said is X.X five million is lumpy previously

so, And in that increases and such equipment covers cables generally. manufacturing capacity us for for

the cost line growth I think these we continue us in our products, we we right path top introduce to have And great we that to on get as structure see profitability. feel as so to place

Tyler Bomba

helpful. Great. is Yes, super that

revenue that Velodyne’s my going for is intention For the a standpoint? from rank put the that the relevant current situation infringement with going be and Chinese licensing to in lidar patent I supplier with forward place. Is what follow-up, IP. of know deals they

Angus Pacala

Thanks for the Yes. question.

deal be insight haven’t providing fulsome a combined around much company update in on we or the of will revenue when that detail the But closes. We more provided level mix. expectations

Tyler Bomba

taking for questions. again the thanks Great,

Operator

of Brian with Markets. comes Chardan Dobson line from next the question Your Capital

Your now line is open.

Brian Dobson

much. LX launch very on the Congratulations announcement. merger Yes. chip Thanks and the

Do So introduced? I that guess first is as industry mix to shifting chip new the your see by you launch. turning end revenue technology user

Angus Pacala

things some with has longer a as Serviceable, is the need SOM for is be range markets, we there because And to we into where mapping think absolutely range this I release precision highlighted of Market. well. new the our shift and accuracy market will that, allowed or us doubled tap higher have have one Obtainable there that

cases the shift, of expansion off not markets, that overall I expect but see move use an introduced overtime, just a a addressing. so are new because opportunities in it to shift do is of we And of a other

Brian Dobson

for obtaining Yes, your Safety offers are Which excellent. your technology. core Certification And mentioned if those sensor verticals most obtained? of Vertical opportunity certifications you new the

Angus Pacala

a on looking interesting is are question. what you really And it timescale depends at. That

auto. One of of and versus established because in core And that lidar an the over early market, infrastructure diversification our Ouster the industrial things about there alongside into sort is especially is robotics smart around market billion is our strategy sector, in today. industrial, $X

are would I near in term of the are or a quality, opportunity true sector. say, setting companies a there are automotive then But There high industrial grade, lot is not the certifications. volume they So application. aside, that significant for interested automotive that automotive automotive whether

at certification the So to certifications. once, impact be them we on we I what is think two which tackle doing. sets, those positive a there lot can And there are is going significant automotive so luckily, is a of between overlap

Brian Dobson

a the will one quick I just merger. And about Excellent. in sneak

segments more that on you customer a two little So bases. business Can Velodyne’s you complementary mentioned just color give or the segments? us bit customer companies have core

Angus Pacala

Yes.

is than complementary questions complementing complementary to them. few on should common between one is the is auto. statement, the that the natural to just I think of that are more Velodyne, we result as diversification is going us that happen markets the things markets you a there across have merger, and But companies, definitely companies ask of two that specific because of diversified two a across just

as products really robust from the of decade. and set the an and provide robust for combines better we each So a operating customer businesses success past products independent part that set of of best really have, the opportunity see to the we company of a learnings that

Brian Dobson

much. very you thank Great,

Operator

from comes with question next Your Shannon Craig-Hallum. of the line Richard

Your line is open. now

Richard Shannon

margins, taking if And here for on both you could wide and Hi year wide. ranges guys what is end the the here, first here, look margins. Anna my for sales Maybe the it both question. pretty and gross guidance numbers for on gross your one thanks and at my is both revenues are pretty low high give the

about EBITDA question mentioned maybe being slightly just level to improved versus you a think in quarter. in I a similar, an last answer

like range So both like what kind of wide might pinpointed fairly those numbers it here. on the those versus look have you for a left seems to

your of down helping kind narrow a from comments have are the that maybe you us So wide yourself? little ranges bit

Anna Brunelle

expecting REVX, have before, was traction said this the we I already quarter, Like seeing great into range to from we existence in XX already quarter. to a XX are going are

our so accurate, just strong it kept And so it. to range. But a will I definitely confidence very sight within And quarter. expect gives is increase of us that line said, we, and yes, customer as have our great still that we to count be we continues

Richard Shannon

Last kind Follow Angus. enough. sales seemingly strength question growing about a industrial markets here some a of within obviously talked here fair in - continued macro of a affecting the good some nicely Okay, with and quarter, your little had you robotics. us or number quarter on edges, end for cycles Maybe are kind update positive lengthening quarter product comment, at comment either please. versus geographies, the sales last of line same in is or the give staying it could the a negative markets where on a cycles whether by of you any improving areas in

Angus Pacala

of are expect And those true that made revised that are observations think it. and hit comments We with is hold still we the as sticking this our sticking and I and quarter, guidance. it why Yes quarter. will last I with that QX

I our of similar Kind amount of of where generated to really pretty these products. releasing new quarter. think we that the kind external internally irrespective LX, by But we think the see the I a what additional significant done products, that the, REVX industrial that new changed has climate, in suite, interest maybe has macroeconomic and which sensor have last what is releasing of is remains interest. So

Richard Shannon

fair thanks. all is That Okay, for enough. me

Operator

over turn conclude session. for to this And would remarks. the question-and-answer like Angus any I our Pacala does conference back closing to

Angus Pacala

extent, Well, as way Alright. thank here. for Velodyne for I’m positive the with accomplished questions. proud performance with through I to glad to the you we have more with highest record for we to our year-over-year hitting maturation powered later across have consolidation excited incredibly expand XX% gross digital few is our raw we an which in leading possible plenty all digital and equally be for merger growth think there had is REVX are come really REVX a We in investors LX this a and think I sensors, impact lidar. really an industry, that third and quarter. product we of what launched the that was about thought quarter of is going had for the as With Ouster customers but also the industry step and the to today joining second portfolio. the the XXXX it its important whole. stride revenue over lidar I’m and for of and and margins, announced

great for evening. again and thanks have a joining So

Operator

Thank the attending now gentlemen, concluded. Ladies conference and is presentation. you for today’s

at now time. lines may disconnect your this You

Ouster (OUST) 8 Nov 222022 Q3 Earnings call transcript