Ouster, Inc.

Hello and welcome to Ouster's third quarter 2026 earnings conference call. All lines have been placed on mute to prevent any background noise. After today's presentation and remarks, there will be an opportunity to ask questions. If you would like to ask a question during this time, simply press star followed by the number 11 on your telephone keypad. If you would like to withdraw your question, please press star 11 again. The call today is being recorded, and a replay of the call will be available on the Ouster Investor Relations website an hour after the completion of this call. I'd now like to turn the conference over to Chen Geng, Senior Vice President of Strategic Finance and Treasurer. Please go ahead.

Good afternoon, everyone. Thank you for joining Ouster's third quarter 2026 earnings call. On today's call, we have Chief Executive Officer Angus Pacala and Chief Financial Officer Ken Gianella. After the market closed today, Ouster issued its financial news release and Form 8-K, which are available on our investor relations website. A webcast replay of today's call will also be available on our website. During this call, we will make certain forward-looking statements. These include all statements about our competitive position, product advantages and growth opportunities anticipated industry trends, our business and strategic priorities, our operating expense targets, the impact of our recent acquisition, the development and expansion of our products, our products capabilities and performance, and our revenue guidance for the fourth quarter of 2026 and long-term financial targets. Actual results may differ materially from those contemplated by these forward-looking statements. Factors that could cause Actual results and trends to differ materially from those contained in or implied by these forward-looking statements are set forth in the third quarter 2026 financial results release and in the quarterly and annual reports we file with the Securities and Exchange Commission. Any forward-looking statements that we make on this call are based on assumptions as of today and other than as may be required by law, Oster assumes no obligation to update any forward-looking statements which speak only as of their respective dates. In today's call, we will discuss both GAAP and non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in the financial results release. I would now like to turn the call over to Angus.

Hello, everyone, and thank you for joining us today. I'll start with a brief recap of the quarter and an update on our strategic priorities before Ken covers our financial results in more detail. We delivered a strong third quarter with $59 million in revenue and over 27,000 sensors shipped, both records for the company. We delivered over 7,000 LiDAR sensors and 20,000 cameras, cementing our evolution into the comprehensive sensing and perception platform that meets the diverse global demands of physical AI. The industrial vertical led third quarter revenue, followed by robotics, supporting customers in warehouse automation, defense, Construction, and Mapping. Our Stereo Labs cameras had a record quarter of shipments unlocked by our investments in production capacity to meet the surging growth in the robotics sector. As a leader in physical AI, Ouster is enabling our customers to sense, think, act, and learn on their autonomy journey. This quarter is a great proof point of the progress we have made across all three of our key strategic priorities. Revolutionizing our LiDAR camera and AI compute products, extending our leadership in physical AI solutions and executing towards profitability. Starting off with our product portfolio, Rev8 has received exceptional market reception. As the world's first native color lidar, Rev8 is a paradigm shift that is proving to be an undeniable competitive differentiator. Hundreds of customers have already chosen Rev8 for their mission-critical applications, and they have overwhelmingly adopted native color. Customer demand has been robust while we ramp initial production. We have many thousands of Rev8 sensors in our backlog, and we expect our delivery cadence to accelerate into 2027. Our expanded partnership with Benchmark is expected to support an annual LiDAR capacity of over 100,000 units by the end of 2027. We are investing in retooled, high-volume production lines, increasing precision automation, scaling testing, and accelerating inventory purchases to meet the exceptional demand for Rev-8. Our customers are selecting Rev-8 because no other sensor matches its native color, increased accuracy, and extreme ruggedness. Whether navigating through smoke and dust or maneuvering through complex, cluttered warehouses, Ouster delivers the precision autonomy and enhanced obstacle detection required by operators around the world. Let me now share a few Rev-8 proof points. In industrials, we recently announced an expansion of our multi-year strategic partnership with Fortera, the leader in military eponymous ground mission systems. Alster provides 360-degree situational awareness with a single sensor and industry-leading reliability in the world's most challenging environments. Following the successful deployment of REV7 sensors in Ukraine, Fortera plans to integrate REV8 native color lidar into its future defense vehicles. Gus Automation, a subsidiary of John Deere, plans to integrate our Rev8 sensors into its next-generation autonomous orchard machine fleet. Rev8 delivers the precision obstacle detection and native color perception needed to scale safe, autonomous agriculture worldwide. In robotics, the superior performance of Rev8 is establishing a new benchmark in the aerial mapping and autonomous drone market. We announced a strategic partnership with Seneca to integrate the Rev8 into autonomous wildfire response drones. Rev8 is built to operate from minus 40 to plus 85 degrees Celsius with industry-leading durability, unique capabilities that enable Seneca to navigate smoke, dust, and severe weather during critical cargo and firefighting operations. In addition, GeoQ, a premier provider of geospatial mapping, is integrating our NDAA and BABA-compliant Rev8 sensors into its TrueView drone payloads for utility and infrastructure mapping. Turning to compute, we recently expanded our AI compute portfolio with the launch of the ZBOX2 series, our next generation of industrial-edge AI supercomputers engineered specifically to power physical AI. This series spans both NVIDIA Jetson platforms. the Jetson Orin for neural depth tracking and multi-camera fusion in real time, and the Jetson Thor for advanced perception and generative AI models. With support for up to eight sensors, high-speed connectivity, and multi-sensor fusion, Alster is providing customers with a scalable, production-ready compute solution that eliminates extra adapters or custom carrier boards. We are also directly addressing some of our customers' largest operational hurdles, Compute Load, Memory Bandwidth, and System Cost. Through an updated Z SDK and expanded native support for NVIDIA Isaac Ross across our entire Z camera family, our customers can run high-performance spatial AI models at the edge with fewer processing bottlenecks, lowering latency and improving compute efficiency. Ouster is a one-stop shop for physical AI. With our latest software and ready-to-deploy Vision AI kits, Allister delivers the platform and performance the world's leading roboticists rely on to accelerate their deployment of physical AI from prototype to the real world. Turning to our physical AI solutions, both Allister Gemini, our AI-enabled perception software, and Blue City, our turnkey intelligent transportation platform, have made big strides this year. We are unlocking unprecedented scale with Allister Gemini through our redesign of our perception pipeline. By doubling edge processing speeds, Gemini can now seamlessly fuse up to 100 LiDAR sensors on a single server, more than double our prior capacity. This expanded capability is winning enterprise Gemini deployments that require the tracking of thousands of objects across massive city-sized environments in real time. Leading DOTs across North America are rapidly adopting Blue City Advanced Detection, powered by the Rev8 OS1 Max. By delivering continuous 360-degree detection of road users up to 500 feet across lighting extremes and severe weather conditions, Ouster is providing cities with unmatched situational awareness. Advanced detection has led to several million dollar Blue City wins in Utah, Washington, Florida, and Ontario, Canada. In addition, we recently won an expansion with a leading DOT, securing a multi-million dollar contract to expand our Blue City solution across 100 additional intersections. Advanced detection is enabling our customer to consolidate continuous point cloud data across multiple intersections into a single unified corridor view and unlocking advanced data for improved traffic flow and safety. Complementing these leaps in performance are improvements in our machine learning iteration cycle. By optimizing data labeling, training, and verification, we have compressed our end-to-end model training cycle by over 50% year-to-date. Alster is iterating faster to more rapidly deploy improved perception software across our entire customer base, extending our lead as the foundational partner in physical AI to sense, think, act, and learn. Finally, our strong results align with our long-term financial framework. We are making strategic investments in product innovation, manufacturing capacity, and customer success as we scale toward profitability. With that, let me now turn the call over to Ken, who will provide more context on our third quarter financial results and full year 2026 outlook.