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Ouster (OUST) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · Ouster (OUST) Q3 2026 earnings results →
Q3 2026 Revenue up 50% year over year to $59.3M · 24¢ of every $1 of revenue lost · operating margin -32.5%
Ouster made $59.3M in Q3 2026 (+50% Y/Y): Product revenue $56.0M, Royalties $3.3M. Operating margin -32.5%, net loss $14.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
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What changed this quarter
Revenue was $59.3M in Q3 2026, up 50% year over year and up 9% from the previous quarter. Product revenue was the largest line at 94% of revenue. Product revenue added $16.5M year over year (up 42%), 84% of the total change.
Gross margin was 42.6%, up 0.4 points from Q3 2025. Operating costs exceeded revenue by $19.3M, an operating margin of -32.5%. Operating expenses grew 9% against revenue growth of 50%. The fastest-growing cost line was Sales & marketing (+30%). The quarter ended with a net loss of $14.2M, narrower than the previous quarter's $18.1M loss. Non-operating items added $4.4M, -29% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$29.3M. Non-cash charges added back $3.8M of depreciation and amortization and $11.5M of share-based compensation. Working capital and other items used $30.4M. Capital expenditures of $5.7M exceeded it, leaving free cash flow of −$35.0M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $59.3M | +50% | -32.5% | −$14.2M | −$29.3M |
| Q2 2026 | 10-Q | Aug 6, 2026 | $54.6M | +56% | -36.7% | −$18.1M | −$12.8M |
| Q1 2026 | 10-Q | May 5, 2026 | $48.6M | +49% | -39.5% | −$17.5M | −$7.3M |
| Q4 2025 | 10-K | Mar 2, 2026 | $62.2M | +107% | 1.5% | $4.0M | −$15.4M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $39.5M | +41% | -61.4% | −$21.7M | −$18.3M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $35.0M | +30% | -76.5% | −$20.6M | −$1.3M |
| Q1 2025 | 10-Q | May 9, 2025 | $32.6M | +26% | -73.0% | −$22.0M | −$4.9M |
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About Ouster
Ouster, Inc. is a leader in sensing and perception for Physical Artificial Intelligence (Physical AI). Ouster enables machines to “Sense, Think, Act, and Learn” and independently execute tasks without human intervention. Physical AI allows machines to move beyond fixed, preprogrammed behavior into adaptive, intelligent action by focusing on perception, understanding, and learning from the physical world. As a pioneer in Physical AI, Ouster offers a unified sensing and perception platform that combines high-performance digital lidar, cameras, AI compute, sensor fusion and perception software, and cutting-edge AI models to our customers.
In its own words, from its 10-K, filed Mar 2, 2026.
Ouster against its General Industrial Machinery & Equipment, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +50% against the peers' median +17%. Operating margin: -32.5% against the peers' median 0.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| OUST Ouster | Q3 2026 | $59.3M | +50% | -32.5% |
| RRX Regal Rexnord | Q3 2026 | $1.6B | +6% | 5.1% |
| ESAB Esab | Q3 2026 | $825M | +13% | 11.1% |
| NDSN Nordson | Q3 FY26 | $818M | +10% | 27.3% |
| SYM Symbotic | Q3 FY26 | $721M | +22% | 4.6% |
| CHRN ChronoScale Holdings | Q3 2026 | $41.5M | +148% | -60.0% |
| TAYD Taylor Devices | Q1 FY27 | $7.3M | -26% | 0.5% |
| SERV Serve Robotics | Q3 2026 | $2.8M | +313% | n/m |
| RR Richtech Robotics | Q3 FY26 | $1.4M | +17% | -966.3% |
Source: Ouster 10-Q on SEC EDGAR · CIK 1816581 · General Industrial Machinery & Equipment, NEC
Guidance and outlook
13F: who owns OUST and who is buying
More on OUST
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results