Ouster
OUST on Nasdaq. Ouster sells sensors and software that let machines see, to industrial and infrastructure customers. Market value $3.2bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Industrials stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-2.59 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
Each dollar kept in the business earns -116 cents a year. Above 10 is good.
Quality score: 30 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$44.12 a share, 169% above its 1-year low
Over the past year the price has ranged from $16.40 to $63.79.
Pays no dividend
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $34m | $41m | $83m | $111m | $169m |
| Operating margin | |||||
| Operating margin | -297.0% | -354.4% | -448.1% | -93.8% | -43.7% |
| Debt to equity | |||||
| Debt to equity | 0.00 | 0.23 | 0.24 | 0.00 | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.18bn | 0.04bn | 0.05bn | 0.06bn | 0.07bn |
Health checks
- Free cash flow positive0 of 5 years
- Accounting checksSkipped: company is not yet profitable
- DebtUnknown
- Revenue growth, five yearsStrong, 49.9% a year
- Buying back its own sharesYes, 61% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $55 million last quarter, up 56% on a year ago.
- A loss of $18 million, compared with a loss of $21 million a year ago.
- It loses 31 cents on each $1 of sales, compared with 82 cents a year earlier.
- Over the past 12 months it spent $82 million more cash than it brought in, compared with $16 million a year earlier.
- 21% more shares than a year ago. Each share owns a bit less of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $28m |
| December 2024 | $30m |
| March 2025 | $33m |
| June 2025 | $35m |
| September 2025 | $40m |
| December 2025 | $62m |
| March 2026 | $49m |
| June 2026 | $55m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$26m |
| December 2024 | -$24m |
| March 2025 | -$22m |
| June 2025 | -$21m |
| September 2025 | -$22m |
| December 2025 | $4m |
| March 2026 | -$17m |
| June 2026 | -$18m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 2 March 2026
- Next quarterly (estimated, 10-Q)
- 5 November 2026
Who owns it
2 long-term investors we follow own it, up from 0 last quarter. 328 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Royce & AssociatesChuck Royce | $4m | <0.1% | New |
| Gotham Asset ManagementJoel Greenblatt | $1m | <0.1% | New |
Largest holders overall
- BlackRock$347mAdded
- Vanguard Capital Management$169m
- State Street$128mAdded
- Vanguard Portfolio Management$113m
- Geode Capital Management$103mAdded
- Morgan Stanley$78mAdded
- Price T Rowe Associates$64mAdded
- Exchange Traded Concepts$42mAdded
- Penn Capital Management Company$41mCut
- JPMorgan Chase$40mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- BlackRock, Inc.Passive investor8.5%+1.1 ptsSince 30 June 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 8.5%+1.1 pts | 30 June 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $178,006 of shares on the open market. 9 sold $48m, $46m of it under preset trading plans.
- Chung MeganGeneral Counsel and SecretarySoldunder a preset trading plan
- Date
- 14 September 2026
- Shares
- 11,484
- Price
- $33.96
- Value
- $389,993
- SPENCER DARIENChief Operating OfficerSoldunder a preset trading plan
- Date
- 14 September 2026
- Shares
- 12,808
- Price
- $33.96
- Value
- $434,953
- Pacala Charles AngusPresident and CEO, DirectorSoldunder a preset trading plan
- Date
- 14 September 2026
- Shares
- 30,385
- Price
- $33.96
- Value
- $1m
- Jacquemet CyrilleChief Revenue OfficerSold
- Date
- 14 September 2026
- Shares
- 8,896
- Price
- $33.96
- Value
- $302,093
- Gianella Kenneth P.Chief Financial OfficerSoldunder a preset trading plan
- Date
- 14 September 2026
- Shares
- 15,686
- Price
- $33.96
- Value
- $532,682
- Frichtl MarkChief Technology OfficerSoldunder a preset trading plan
- Date
- 14 September 2026
- Shares
- 18,778
- Price
- $33.96
- Value
- $637,691
- Gianella Kenneth P.Chief Financial OfficerSoldunder a preset trading plan
- Date
- 18 August 2026
- Shares
- 40,000
- Price
- $45.33
- Value
- $2m
- SKAGGS STEPHEN ADirectorSoldunder a preset trading plan
- Date
- 6 August 2026
- Shares
- 3,614
- Price
- $45.18
- Value
- $163,281
- SKAGGS STEPHEN ADirectorSoldunder a preset trading plan
- Date
- 5 August 2026
- Shares
- 1,386
- Price
- $46.48
- Value
- $64,421
- SPENCER DARIENChief Operating OfficerSoldunder a preset trading plan
- Date
- 4 August 2026
- Shares
- 30,000
- Price
- $45.00
- Value
- $1m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 14 September 2026 | Chung Megan General Counsel and Secretary | Sold under a preset trading plan | 11,484 | $33.96 | $389,993 |
| 14 September 2026 | SPENCER DARIEN Chief Operating Officer | Sold under a preset trading plan | 12,808 | $33.96 | $434,953 |
| 14 September 2026 | Pacala Charles Angus President and CEO, Director | Sold under a preset trading plan | 30,385 | $33.96 | $1m |
| 14 September 2026 | Jacquemet Cyrille Chief Revenue Officer | Sold | 8,896 | $33.96 | $302,093 |
| 14 September 2026 | Gianella Kenneth P. Chief Financial Officer | Sold under a preset trading plan | 15,686 | $33.96 | $532,682 |
| 14 September 2026 | Frichtl Mark Chief Technology Officer | Sold under a preset trading plan | 18,778 | $33.96 | $637,691 |
| 18 August 2026 | Gianella Kenneth P. Chief Financial Officer | Sold under a preset trading plan | 40,000 | $45.33 | $2m |
| 6 August 2026 | SKAGGS STEPHEN A Director | Sold under a preset trading plan | 3,614 | $45.18 | $163,281 |
| 5 August 2026 | SKAGGS STEPHEN A Director | Sold under a preset trading plan | 1,386 | $46.48 | $64,421 |
| 4 August 2026 | SPENCER DARIEN Chief Operating Officer | Sold under a preset trading plan | 30,000 | $45.00 | $1m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 2 Mar 2026, plus the 10-Q filed 6 Aug 2026 and 5 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.