SAN FRANCISCO--(BUSINESS WIRE)--Ouster, Inc. (NYSE: OUST) (“Ouster” or the “Company”) announced today the introduction of the most powerful lidar system on chip (SoC) it has ever created, the L2X. The L2X features a highly sensitive SPAD photodetector combined with on-chip digital signal processing that is capable of counting over one trillion photons per second and delivers double the data rate of the prior system on chip, while maintaining the same small size and low power draw. The L2X is designed to power the newest revision of Ouster’s OS digital lidar sensors.
Ouster designs its sensors to meet a superset of performance requirements of its approximately 600 customers, to help ensure they can withstand high levels of shock, vibration, solar interference, water, and dust while reliably providing high-quality data. Powered by the L2X chip, Ouster’s OS sensors will now provide even richer point cloud data that improve the sensor’s ability to detect objects through environmental obscurants such as rain, fog, dust, snow, and even a wired fence. Combined with Ouster digital lidar’s industry-leading durability, Ouster customers can now confidently deploy their systems for all-weather performance.
“Ouster sensors must be able to perform in real-world operating conditions across hundreds of use cases. Whether it’s a robotaxi driving on a foggy morning, an excavator operating in a dusty construction zone, or a last-mile delivery robot navigating through a steam vent on a NYC sidewalk, our sensors must not only be mechanically reliable and robust, but also reliably output high-quality data. With the new L2X chip, Ouster has achieved another key milestone on its product roadmap with the ability to reliably detect objects behind obscurants. We designed the new L2X chip to perform better within all types of weather conditions, further demonstrating the inherent advantage of digital lidar,” said Mark Frichtl, Chief Technology Officer at Ouster.
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding Ouster’s strategy and market positioning. Forward-looking statements include, among others, Ouster’s expectations regarding the performance of its new L2X chip and related impacts on its business and product roadmap. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: Ouster’s limited operating history and history of losses; the negotiating power and product standards of its customers; fluctuations in its operating results; cancellation or postponement of contracts or unsuccessful implementations; the adoption of its products and the growth of the lidar market generally; its 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 it operates; selection of its products for inclusion in target markets; its future capital needs; its ability to use tax attributes; its dependence on key third party suppliers, in particular Benchmark Electronics, Inc., and manufacturers; ability to maintain inventory and the risk of inventory write-downs; inaccurate forecasts of market growth; its ability to manage growth; the creditworthiness of customers; risks related to acquisitions; risks related to international operations; risks of product delivery problems or defects; costs associated with product warranties; its ability to maintain competitive average selling prices or high sales volumes or reduce product costs; conditions in its customers industries; its ability to recruit and retain key personnel; its use of professional employer organizations; its ability to adequately protect and enforce its intellectual property rights; its ability to effectively respond to evolving regulations and standards; risks related to operating as a public company; risks related to the COVID-19 pandemic; and other important factors discussed in the Company’s final prospectus filed on Form 424B3 dated and filed with the Securities and Exchange Commission on August 19, 2021, and in other reports the Company files with or furnishes to the Securities and Exchange Commission. Any such forward-looking statements represent management’s 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, other than as required by law, it disclaims any obligation to do so, even if subsequent events cause its views to change.
Ouster (NYSE: OUST) is a leading provider of high-resolution digital lidar sensors for the industrial, smart infrastructure, robotics, and automotive industries. Ouster products offer an excellent combination of price and performance and are built to a set of requirements that are flexible enough to span hundreds of use cases and enable revolutionary autonomy across industries. Ouster has approximately 600 customers in over 50 countries with offices in the Americas, Europe, Asia-Pacific and the Middle East. For more information, visit ouster.com or connect with us on Twitter or LinkedIn.