Ouster’s Product Revenue Jumps 55% with Rev8 OS Launch and 12,600 Unit Shipments in Q1 2026
Record Product Revenue and Stereolabs Boost Underpin Growth
Ouster Inc. started 2026 on a strong note, delivering $48 million in product revenue for the first quarter—a 55% year-over-year increase and the company’s 13th consecutive quarter of product growth. Total revenue landed at $49 million, supported by robust shipments of over 12,600 lidar and camera sensors. CEO Angus Pacala cited new million-dollar contracts and the successful integration of Stereolabs’ camera technology as key growth drivers, especially in smart infrastructure and industrial automation.
New Rev8 OS Digital Lidar Sets Industry Benchmarks
The quarter also saw the launch of Ouster’s new Rev8 OS family, featuring native color sensing, double the range and resolution, and safety features designed for scale. Powered by advanced silicon, the Rev8 OS marks a step-change in the company’s quest to be the backbone for physical AI—enabling smarter warehouses, logistics, and next-generation robotics applications.
Margins Signal Resilience Despite Sequential Revenue Dip
GAAP gross margin was 43%, up 2 percentage points from a year ago but down from an abnormally strong 60% in the previous quarter that included one-time IP royalty revenue. Non-GAAP gross margin was steady at 46% year-over-year. Operating expenses increased, including R&D and acquisition/integration costs related to Stereolabs, but the company managed to narrow its GAAP net loss by $5 million compared to Q1 2025—now at $17 million.
| Metric | Q1 2026 | Q1 2025 | Q4 2025 |
|---|---|---|---|
| Product Revenue ($M) | 48.23 | 31.11 | 40.97 |
| Total Revenue ($M) | 48.58 | 32.63 | 62.18 |
| Units Shipped | 12,600+ | ~8,100 | ~10,900 |
| GAAP Gross Margin (%) | 43 | 41 | 60 |
| Non-GAAP Gross Margin (%) | 46 | 46 | 62 |
| GAAP Net Loss ($M) | (17.47) | (22.02) | 3.99 |
| Adjusted EBITDA ($M) | (6.88) | (7.81) | 13.15 |
| Cash & Equivalents ($M) | 175 | -- | ~210 |
Growth Engines: Smart Infrastructure, Automation & Stereolabs Integration
Ouster’s customer base continues to diversify, with the first quarter’s product growth fueled by smart infrastructure, warehouse automation, and yard logistics clients. The addition of Stereolabs’ camera vision portfolio has proven synergistic, expanding Ouster’s reach into foundational AI and robotics platforms—a segment experiencing strong demand as industries race to build perception-driven systems.
Q2 2026 Outlook: Momentum Expected to Continue
For the second quarter, Ouster projects revenue in the $49.5–$52.5 million range, reflecting continued traction from the Stereolabs acquisition and new product introductions. Management will provide further details in the upcoming earnings call and at industry investor conferences through June.
Key Takeaway: Ouster’s Focused Execution Drives Consistent Growth
Ouster’s performance in Q1 2026 confirms that its unified sensing platform and next-gen products are resonating with a broader mix of customers. As AI-focused automation and infrastructure accelerate, investors and industry watchers may want to monitor shipment trends, margin performance, and how the Rev8 OS shapes Q2 results. With a robust cash position and new smart sensing technologies, Ouster appears well-positioned to lead in the rapidly evolving landscape of physical AI and intelligent perception systems.
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