OUSTOuster, Inc.
Is the business good?
The checks split: nothing decisive, though margins widening.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is OUST?
Ouster, Inc. keeps −31% of every revenue dollar as operating profit, against 7.9% for the median Electronic Components name.
Operating margin · Electronic Components median 7.9% · 12 months to Q2 2026
- Share count, year on year
- +21%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 33%
R&D as % of revenue
- Gross margin
- 50%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | −274% |
| FY2021 | −297% |
| FY2022 | −354% |
| FY2023 | −448% |
| FY2024 | −94% |
| FY2025 | −44% |
Details›
- Gross margin12 months to Q2 2026
- 50%
- Operating margin12 months to Q2 2026
- −31%
- Net margin12 months to Q2 2026
- −26%
- Free cash flow margin
- −40%
- R&D as % of revenue
- 33%
- Revenue, trailing twelve months
- $205M
- Free cash flow, trailing twelve months
- −$82M
- Net income, trailing twelve months
- −$53M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from OUST and who it buys from, as the companies report it.
- Customer E21%
Share of revenue · FY2025 10-K
- Customer A11%
Share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; OUST’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.
Electronic Components
Ranks #23 of 25 by RyuScore