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Ouster cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$35.0M in Q3 2026 · −$97.4M over twelve months

Operating cash flow−$29.3M
Capital spending−$5.7M
Free cash flow−$35.0M
Cash conversion cycle78 days

Analysis

In Q3 2026, Ouster generated −$29.3M of operating cash flow and spent $5.7M on capital projects, leaving free cash flow of −$35.0M. That is $15.0M less than in Q3 2025 (−$20.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$64.8M; the largest uses were other investing ($198M), operating cash flow ($64.8M), capital spending ($32.6M); besides operations, cash came from other financing ($292M), shares issued ($3.8M); the cash balance rose by $568K.

Operating cash flow was −$29.3M against net income of −$14.2M. The largest differences: receivables −$17.5M, stock-based pay +$11.5M, deferred revenue −$6.3M.

Its cash conversion cycle was 78 days (receivables 48 + inventory 92 − payables 61).

Free cash flow

Ouster: free cash flow by quarterOuster: free cash flow by quarter−$4.0MQ4 2024−$5.4MQ1 2025−$2.2MQ2 2025−$20.0MQ3 2025−$37.2MQ4 2025−$9.8MQ1 2026−$15.4MQ2 2026−$35.0MQ3 2026
Operating cash flow less capital spending.
Ouster: operating cash flow against capital spendingOuster: operating cash flow against capital spendingOperating cash flowCapital spending−$2.6M$1.4MQ4 2024−$4.9M$552KQ1 2025−$1.3M$889KQ2 2025−$18.3M$1.7MQ3 2025−$15.4M$21.8MQ4 2025−$7.3M$2.6MQ1 2026−$12.8M$2.6MQ2 2026−$29.3M$5.7MQ3 2026
Latest (Q3 2026): Operating cash flow −$29.3M, Capital spending $5.7M.

Capital allocation, year by year

Ouster: where the cash came from (up) and went (down), by fiscal yearOuster: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$71.1MFY2021: Net borrowing −$7.0MFY2021: Shares issued $526KFY2021: Capital spending −$4.3MFY2021: Acquisitions −$10.9MFY2021: Buybacks −$45K$526KFY2021FY2022: Operating cash flow −$111MFY2022: Net borrowing $39.1MFY2022: Shares issued $470KFY2022: Asset sales $275KFY2022: Capital spending −$5.4MFY2022: Buybacks −$45K$39.8MFY2022FY2023: Operating cash flow −$138MFY2023: Net borrowing −$44.0MFY2023: Shares issued $271KFY2023: Asset sales $560KFY2023: Capital spending −$3.0M$831KFY2023FY2024: Operating cash flow −$33.7MFY2024: Net borrowing −$44.0MFY2024: Shares issued $205KFY2024: Asset sales $668KFY2024: Capital spending −$3.8M$873KFY2024FY2025: Operating cash flow −$40.0MFY2025: Shares issued $83KFY2025: Capital spending −$24.9M$83KFY2025
Over these 5 years operating cash flow totalled −$393M; the largest uses were operating cash flow ($393M) and net borrowing ($95.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$420M
Debtnone
Net cash$420M
Cash runway4.3 years

Ouster is burning cash: its operations consume cash, a free cash flow of −$97.4M a year at the current rate against $420M of cash and investments: a runway of about 4.3 years before any new financing.

Where the cash came from and went

Ouster: sources (+) and uses (−) of cash, Q3 2026Ouster: sources (+) and uses (−) of cash, Q3 2026Other financing$191MOther investing−$160MOperating cash flow−$29.3MCapital spending−$5.7MCash drawn (+) / kept (−)$2.9MShares issued$1.4M
Ouster: sources (+) and uses (−) of cash, TTM to Q3 2026Ouster: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$292MOther investing−$198MOperating cash flow−$64.8MCapital spending−$32.6MShares issued$3.8MCash drawn (+) / kept (−)−$568KAsset & business sales$64KExchange rates$42K

From profit to cash

Ouster: net income to operating cash flow, Q3 2026Ouster: net income to operating cash flow, Q3 2026Net income−$14.2MDepreciation & amortization$3.8MStock-based pay$11.5MReceivables−$17.5MInventory−$5.3MPayables$603KAccrued liabilities−$3.6MDeferred revenue−$6.3MPrepaid and other assets$3.5MOperating cash flow−$29.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202648926178
Q2 2026401006575
Q1 202650876176
Q4 202539756846
Q3 202547615949
Q2 202543695557
Q1 202549743984
Q4 2024569533118

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$29.3M−$5.7M—$1.4M$2.9M−$35.0M
Q2 2026−$12.8M−$2.6M—$2.2M−$12.7M−$15.4M
Q1 2026−$7.3M−$2.6M−$27.5M$94K−$10.5M−$9.8M
Q4 2025−$15.4M−$21.8M——$19.8M−$37.2M
Q3 2025−$18.3M−$1.7M—$35K−$11.1M−$20.0M
Q2 2025−$1.3M−$889K—$20K−$22.1M−$2.2M
Q1 2025−$4.9M−$552K—$28K−$8.5M−$5.4M
Q4 2024−$2.6M−$1.4M—$35K−$1.4M−$4.0M

Ouster: income statement and cash flow

Ouster, Q3 2026: revenue $59.3M (+50% year over year), operating margin -32.5%. The chart follows the revenue to costs, profit and cash.

Ouster: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.