Smart infrastructure project awards increased
nearly 95% over 2021
Ouster, Inc. (NYSE: OUST)(“Ouster” or “the Company”), a leading
provider of high-performance lidar sensors, announced that overall
demand for smart infrastructure programs in 2022 totaled over 3,500
OS sensors spanning the intelligent transportation systems, crowd
analytics, and security submarkets. Ouster was selected for over
210 smart infrastructure projects in 2022, up nearly 95% over
2021.
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Ouster OS and Velodyne lidar sensors
mounted at a traffic pole in Colorado. (Photo: Business Wire)
The launch of Ouster’s new REV7 OS sensors and early traction
with Ouster Gemini, its cloud-backed digital lidar perception
platform for smart infrastructure applications, contributed to
additional deal wins in the fourth quarter of 2022. Projects within
intelligent transportation systems represented the majority of deal
wins in the smart infrastructure vertical in 2022. Ouster also
expanded its partner ecosystem to more than 30 active software
integrators and solution providers across major markets.
“Ouster saw significant growth in 2022 across each of our smart
infrastructure submarkets, signaling the continued ramp in lidar
demand. We’ve been able to capture incremental market share with
pilot programs that have the potential to evolve into significantly
larger deployments, while also expanding existing project
deployments from the year prior,” said Itai Dadon, Ouster’s VP of
Smart Infrastructure. “Ouster’s new software offerings, Ouster
Gemini and BlueCity, coupled with the dramatic performance gains of
its REV7 sensors, are expected to drive accelerated growth within
the smart infrastructure vertical in 2023.”
The market for lidar across smart infrastructure applications is
vast and growing, driven in part by government initiatives to build
safer, more sustainable cities by modernizing public infrastructure
and transportation systems; as well as emerging opportunities for
lidar in security and crowd analytics to enhance guest experiences,
boost revenue, and simplify operations. With millions of signalized
intersections around the world and the global market for end-system
security cameras already estimated at $32 billion1, there is a
multibillion-dollar market opportunity for lidar in smart
infrastructure.
Software Solutions for Smart Infrastructure: Ouster Gemini
and BlueCity
The introduction of Ouster’s software solutions business also
contributed to demand for lidar sensors within the smart
infrastructure vertical in 2022, and is expected to drive
meaningful new business in 2023. Ouster provided early access to
Ouster Gemini in the second half of 2022, closing deals with more
than 10 companies before broadly releasing the software in January
2023. The Ouster Gemini perception platform offers the ability to
detect, classify, and track moving objects in real-time using the
3D data from a single or multiple fused Ouster sensors.
In addition to Ouster Gemini, the Company offers BlueCity
software, a turnkey lidar-based solution for intelligent
transportation systems to improve traffic operations, planning and
roadway safety through real-time traffic data and analytics.
BlueCity had over 100 active deployments across 7 countries in 2022
to support transportation departments’ vision zero programs,
traffic actuation, and build 3D digital twins with a real-time
picture of traffic data.
About Ouster
Ouster (NYSE: OUST) is a leading global provider of
high-resolution scanning and solid-state digital lidar sensors,
Velodyne Lidar sensors, and software solutions for the automotive,
industrial, robotics, and smart infrastructure industries. Ouster
is on a mission to build a safer and more sustainable future by
offering affordable, high-performance sensors that drive mass
adoption across a wide variety of applications. With a global team
and high-volume manufacturing, Ouster supports over 850 customers
in over 50 countries. Ouster is headquartered in San Francisco, CA
with offices in the Americas, Europe, Asia-Pacific, and the Middle
East. For more information, visit www.ouster.com, or connect with
us on Twitter or LinkedIn.
Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. We intend such forward-looking statements to be covered by
the safe harbor provisions for forward-looking statements contained
in Section 27A of the Securities Act of 1933, as amended (the
“Securities Act”) and Section 21E of the Securities Exchange Act of
1934, as amended (the “Exchange Act”). Such statements are based
upon current plans, estimates and expectations of management that
are subject to various risks and uncertainties that could cause
actual results to differ materially from such statements. The
inclusion of forward-looking statements should not be regarded as a
representation that such plans, estimates and expectations will be
achieved. Words such as “anticipate,” “expect,” “project,”
“intend,” “believe,” “may,” “will,” “should,” “plan,” “could,”
“may,” “continue,”, “drive”, “target,” “contemplate,” “estimate,”
“forecast,” “guidance,” “predict,” “possible,” “potential,”
“pursue,” “likely,” and similar expressions are intended to
identify forward-looking statements, though not all forward-looking
statements use these words or expressions. All statements, other
than historical facts, including statements regarding Ouster’s
anticipated cash position and cost savings; anticipated customer
base, expected number of employees, and anticipated strengths and
benefits of the combined company, are forward-looking statements.
All forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those that we expected, including but not limited to risks
related to Ouster’s limited operating history and history of
losses; the negotiating power and product standards of its
customers; fluctuations in its operating results; supply chain
constraints and challenges; cancellation or postponement of
contracts or unsuccessful implementations; the ability of its
digital lidar technology roadmap and new software solutions to
catalyze growth; the adoption of its products and the growth of the
lidar market generally; the merger may involve unexpected costs or
liabilities; the effect of the merger on the ability of Ouster to
retain and hire key personnel and maintain relationships with
customers, suppliers and others with whom Ouster does business, or
on Ouster’s operating results and business generally; challenges
with the integration of the combined company; the outcome of any
legal proceedings related to the merger; Ouster’s ability to grow
its sales and marketing organization; substantial research and
development costs needed to develop and commercialize new products;
the competitive environment in which Ouster operates; selection of
Ouster’s products for inclusion in target markets; Ouster’s future
capital needs and ability to secure additional capital on favorable
terms or at all; its ability to use tax attributes; Ouster’s
dependence on key third party suppliers, in particular Benchmark
Electronics, Inc., and manufacturers; Ouster’s ability to maintain
inventory and the risk of inventory write-downs; inaccurate
forecasts of market growth; Ouster’s ability to manage growth; the
creditworthiness of Ouster’s customers; risks related to
acquisitions; risks related to international operations; risks of
product delivery problems or defects; costs associated with product
warranties; Ouster’s ability to maintain competitive average
selling prices or high sales volumes or reduce product costs;
conditions in its customers’ industries; Ouster’s ability to
recruit and retain key personnel; Ouster’s use of professional
employer organizations; Ouster’s ability to adequately protect and
enforce its intellectual property rights; Ouster’s ability to
effectively respond to evolving regulations and standards; risks
related to operating as a public company; risks related to the
COVID-19 pandemic; risks related to certain of Ouster’s warrants
being accounted for as liabilities; and other important factors
discussed in the Company’s Annual Report on Form 10-K for the year
ended December 31, 2021, as updated by the Company’s most recent
Quarterly Report on Form 10-Q and as may be further updated from
time to time in the Company’s other filings with the SEC. Readers
are urged to consider these factors carefully and in the totality
of circumstances when evaluating these forward-looking statements,
and not to place undue reliance on any of them. Any such
forward-looking statements represent management’s reasonable
estimates and beliefs as of the date of this press release. While
Ouster may elect to update such forward-looking statements at some
point in the future, it disclaims any obligation to do so, other
than as may be required by law, even if subsequent events cause its
views to change.
1 Imaging for Security 2022, Market & Technology Report (pg.
13), YOLE Développement. Note: Given that lidar can replace or
augment security cameras, Ouster assumes a similar market
opportunity lidar.
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version on businesswire.com: https://www.businesswire.com/news/home/20230316005267/en/
For Investors Sarah Ewing investors@ouster.io
For Media Heather Shapiro press@ouster.io
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