LithiumBank Resources

Ouster Achieves Major Software Milestones, Accelerating its Smart Infrastructure Solutions Business

09 November 2023
  • Unified the Blue City traffic management solution under the Ouster Gemini platform
  • New AI perception models achieves state-of-the-art detection accuracy
  • Booked millions of dollars in software coupled sales
  • Expanded software deployments to over 375 sites

SAN FRANCISCO / Nov 09, 2023 / Business Wire / Ouster, Inc. (NYSE: OUST) (“Ouster” or the “Company”), a leading provider of high-performance lidar sensors for the automotive, industrial, robotics and smart infrastructure industries, announced today major software achievements to serve the growing demand for lidar-powered smart infrastructure solutions. This includes completing the unification of Blue City and Ouster Gemini, adding new performance-improving deep learning AI perception models, and booking software coupled sales worth millions of dollars.

Ouster expanded its product portfolio to include software solutions earlier this year, starting in January 2023 with the release of Ouster Gemini, its digital lidar perception platform for security, intelligent transportation systems, and crowd analytics. The Company then added Blue City, a turnkey traffic management solution, to its offerings following its merger with Velodyne in February 2023. Since then, Ouster has achieved the following milestones:

  • Unified solutions under the Ouster Gemini platform: Ouster completed the unification of Blue City with Ouster Gemini in the third quarter, enabling Blue City functionality with Ouster digital lidar and paving the way for more features and faster development.
  • New deep learning AI perception models: Ouster increased the overall accuracy and reliability of Ouster Gemini by integrating new layers of machine learning algorithms and deep neural networks. With deep learning, Ouster Gemini now offers advanced object classification and enables more complex use cases.
  • Integrations with video management systems (VMS): Ouster completed integrations with leading real-time VMS partners, providing customers with increased flexibility to select the software product that best suits their use case.
  • Millions in software coupled sales: Ouster booked software coupled sales worth millions of dollars in the third quarter, including signing a significant deal to deploy its digital lidar hardware coupled with Ouster Gemini at over 130 logistics sites. The 2023 commitment alone includes the purchase of hundreds of REV7 sensors with subscription licenses to its Gemini software for security and analytics, which is expected to drive recurring revenue for the Company.
  • Expanded software deployments: Bookings for Ouster Gemini and Blue City software solutions will expand deployments to more than 375 sites.

“Our software team put in a massive effort to harmonize all of our solutions under the Gemini platform while simultaneously implementing new AI perception models that improve the performance and expand the capabilities of the solutions,” said Ouster CEO Angus Pacala. “We have a major opportunity to scale software coupled sales with existing customers, and a multi-billion dollar market within security, transportation and retail that is ripe for lidar to displace legacy sensing technologies. Ouster Gemini is an incredible product, and we are already starting to see the commercial results.”

Where cameras, radar or inductive loops have been used in the past to detect and track objects or people in real-time, lidar hardware combined with Ouster Gemini and Blue City software provides more actionable and reliable data, in all manner of low light and environmental conditions. Use-cases for Ouster Gemini have included security for critical infrastructure, sensitive sites, warehouses, and data centers; analyzing people movements in high-traffic venues such as stadiums, shopping centers and retail stores; as well as analyzing roadway activity and actuating traffic signals.

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. 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. The Company intends 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 and Section 21E of the Securities Exchange Act of 1934, as amended. 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,” “target,” “contemplate,” “estimate,” “forecast,” “guidance,” “predict,” “possible,” “potential,” “pursue,” “likely,” and the negative of these terms 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 the benefits of Ouster’s software offerings and impacts on other revenue streams and Ouster’s competitive position. 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 ability to adequately protect and enforce its intellectual property rights, including as relates to Hesai Group; and other important factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, as updated by the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 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 the 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.

photo

photo

Sign Up To Get Daily Green Stock News In Your Inbox

Please review our Disclaimer and Privacy Policy before subscribing.

STOCK QUOTE

FEATURED GREEN STOCK

Hillcrest Energy Technologies

Hillcrest Energy Technologies is a clean technology company developing high value, high performance power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable...

CLICK TO LEARN MORE

FEATURED GREEN STOCK

Surf Air Mobility

Surf Air Mobility is a regional air mobility platform expanding the category of regional air travel to reinvent flying through the power of electrification. In an effort to substantially reduce the cost and environmental impact of...

CLICK TO LEARN MORE

COPYRIGHT ©2022 GREEN STOCK NEWS