Filing Flows › Ouster (OUST) › Q1 2026
Ouster (OUST) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Ouster (OUST) reported revenue of $48.6M for the first quarter 2026 (Q1 2026), +49% from a year earlier and -22% from the quarter before. Operating margin was -39.5%, net loss $17.5M (36.0% of revenue).
Ouster, Q1 2026: revenue $48.6M (+49% year over year), operating margin -39.5%, net loss $17.5M, operating cash flow −$7.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $48.6M | -22% | +49% |
| Operating profit | −$19.2M | -2225% | — |
| Net earnings | −$17.5M | -538% | — |
| Operating cash flow | −$7.3M | — | — |
What changed
Revenue was $48.6M in Q1 2026, up 49% year over year and down 22% from the previous quarter. Product revenue was the largest line at 99% of revenue. Product revenue added $17.1M year over year (up 55%), 107% of the total change. Royalties declined 80%.
Gross margin was 42.9%, up 1.6 points from Q1 2025. Operating costs exceeded revenue by $19.2M, an operating margin of -39.5%. Operating expenses grew 7% against revenue growth of 49%. The fastest-growing cost line was Sales & marketing (+22%). The quarter ended with a net loss of $17.5M, after a profit of $4.0M the previous quarter.
Operating cash flow was −$7.3M. Non-cash charges added back $2.7M of depreciation and amortization and $7.5M of share-based compensation. Capital expenditures of $2.6M exceeded it, leaving free cash flow of −$9.8M.
Questions
What was Ouster's revenue in the first quarter 2026?
Ouster (OUST) reported revenue of $48.6M for the first quarter 2026 (Q1 2026), +49% from a year earlier and -22% from the quarter before.
Was Ouster profitable in the first quarter 2026?
Operating loss was $19.2M (-39.5% of revenue) and net loss $17.5M.
Source: Ouster 10-Q on SEC EDGAR.