Ouster Inc (OUST) 2023 Q4 法說會逐字稿

Hello, and welcome to Ouster's fourth-quarter 2023 earnings conference call.

您好，歡迎參加 Ouster 2023 年第四季財報電話會議。

(Operator Instructions) Again, this call 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.

（操作員說明）同樣，本次通話正在錄音，通話結束一小時後，Ouster 投資者關係網站將提供通話重播。

I'd now like to turn the conference over to Chen Geng, VP of Strategic Finance and Treasurer.

現在我想把會議交給策略財務副總裁兼財務主管陳耕。

Please go ahead.

請繼續。

Good afternoon, everyone.

大家下午好。

Thank you for joining us for our fourth-quarter 2023 earnings call.

感謝您參加我們的 2023 年第四季財報電話會議。

I am joined today by Ouster's Chief Executive Officer, Angus Pacala; and Chief Financial Officer, Mark Weinswig.

今天，Ouster 執行長 Angus Pacala 也加入了我的行列。和財務長馬克·溫斯維格。

Before we begin the prepared remarks, we would like to remind you that earlier today, Houser issued a press release announcing its fourth quarter and fiscal year 2020 results.

在我們開始準備好的發言之前，我們想提醒您，今天早些時候，Houser 發布了一份新聞稿，宣布其第四季度和 2020 財年業績。

An investor presentation was published and is available on the Investor Relations section of Altria's website.

投資者簡報已發布，可在奧馳亞網站的投資者關係部分查看。

I'd also like to remind everyone that during the course of this conference call, Ouster's management will discuss certain forward-looking information, including commentary regarding our growth strategy and go-forward financial framework, our first-quarter 2024 financial guidance, and other matters described in today's press release that are intended to be covered by the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 for forward-looking statements.

我還想提醒大家，在本次電話會議期間，Ouster 管理層將討論某些前瞻性信息，包括有關我們的增長戰略和未來財務框架的評論、我們 2024 年第一季度的財務指導以及其他今天的新聞稿中所述的前瞻性聲明旨在涵蓋1995 年《私人證券訴訟改革法案》的安全港條款。

There is no guarantee that such plans, estimates, and expectations will be achieved and Ouster's actual results are subject to risks and uncertainties that may cause actual results to differ materially from current expectations that we may share with you today.

無法保證此類計劃、估計和期望能夠實現，並且Ouster 的實際結果會受到風險和不確定性的影響，這些風險和不確定性可能導致實際結果與我們今天可能與您分享的當前預期存在重大差異。

In addition to any risks highlighted during this call, you should carefully consider other important risk factors and disclosures that may affect our future results as described in the reports filed with or furnished to the SEC, including Ouster's annual report on Form 10-K for the year ended December 31, 2022, as will be updated and our annual report on Form 10-K for the year ended December 31, 2023.

除了本次電話會議期間強調的任何風險之外，您還應該仔細考慮可能影響我們未來業績的其他重要風險因素和揭露，如向SEC 提交或提供的報告中所述，包括Ouster 的10-K 表格年度報告截至 2022 年 12 月 31 日的年度，以及我們截至 2023 年 12 月 31 日的年度 10-K 表格年度報告。

Except as required by law, rule, or regulation, Ouster undertakes no obligation to update any of these forward-looking statements for any reason after the date of this call.

除法律、規則或法規要求外，Ouster 不承擔在本次電話會議之後以任何理由更新任何這些前瞻性聲明的義務。

Information discussed on this call concerning Ouster's industry competitive position in the markets in which it operates is based on information from independent industry and research organizations, other third-party sources and management estimates, which are derived from publicly available information released by independent industry analysts and other third-party sources, as well as data from our internal research and are based on reasonable assumptions and computations made upon reviewing such data and its experience and knowledge of such industry end markets.

本次電話會議中討論的有關Ouster 在其經營所在市場中的行業競爭地位的信息基於獨立行業和研究組織、其他第三方來源和管理層估計的信息，這些信息源自獨立行業分析師發布的公開資訊和其他第三方來源以及我們內部研究的數據，並基於在審查這些數據及其對此類行業終端市場的經驗和知識後做出的合理假設和計算。

By definition, assumptions are subject to uncertainty and risks, which could cause results to differ materially from those expressed in the estimates.

根據定義，假設受到不確定性和風險的影響，這可能導致結果與估計中表達的結果有重大差異。

During this call, we will discuss certain non-GAAP financial measures.

在本次電話會議中，我們將討論某些非公認會計準則財務指標。

These non-GAAP financial measures should be considered as a supplement to and not a substitute for measures prepared in accordance with GAAP.

這些非公認會計原則財務措施應被視為根據公認會計原則制定的措施的補充，而不是替代。

For a reconciliation of non-GAAP financial measures discussed during this call and the most directly comparable GAAP measures, please refer to today's press release.

有關本次電話會議期間討論的非公認會計準則財務指標和最直接可比較的公認會計準則財務指標的調節表，請參閱今天的新聞稿。

I would now like to turn the call over to Angus.

我現在想把電話轉給安格斯。

Hello, everyone, and thank you for joining us today. 2023 was a transformative year for Ouster.

大家好，感謝您今天加入我們。 2023 年對 Ouster 來說是變革的一年。

We successfully completed the merger with Velodyne, which forged the company with a stronger balance sheet, expanded patent portfolio, and streamlined cost structure.

我們成功完成了與 Velodyne 的合併，使公司擁有了更強大的資產負債表、擴大了專利組合併簡化了成本結構。

We achieved important milestones across our operations, notably scaling production and shipments of REV7, our most performance sensor yet.

我們在整個營運中實現了重要的里程碑，特別是擴大了我們迄今為止性能最強的傳感器 REV7 的生產和出貨量。

Additionally, we added new revenue streams with the launch of Ouster Gemini and Blue City, and demoed our first DF sensors with customers marking a significant stride forward in our product development journey.

此外，我們還透過推出 Ouster Gemini 和 Blue City 增加了新的收入來源，並向客戶展示了我們的首款 DF 感測器，標誌著我們的產品開發之旅向前邁出了一大步。

This was all accomplished while delivering record financial performance, significantly reducing our cash burn, and exceeding our initial post-merger annualized cost savings target by over 40%.

這一切都是在實現創紀錄的財務業績的同時實現的，顯著減少了我們的現金消耗，並超出了我們最初的合併後年化成本節約目標 40% 以上。

Let's delve deeper into the four strategic priorities we laid out for 2023: driving business, execute on our digital ladder roadmap, develop a robust software ecosystem, and build a financially strong business.

讓我們更深入地探討我們為 2023 年制定的四個策略重點：推動業務發展、執行我們的數位階梯路線圖、開發強大的軟體生態系統以及建立財務實力雄厚的業務。

Looking back at the past year, I believe the Ouster team successfully executed against each of these goals.

回顧過去的一年，我相信 Ouster 團隊成功地實現了這些目標。

First, Ouster booked a record $142 million in new business and generated a record $83 million in revenue, a 103% increase year over year.

首先，Ouster 實現了創紀錄的 1.42 億美元新業務，並創造了創紀錄的 8,300 萬美元收入，年增 103%。

We closed large multimillion dollar deals across all four verticals, including production wins by May Mobility and Motional to supply lidar sensors for their autonomous vehicles.

我們在所有四個垂直領域完成了數百萬美元的大型交易，其中包括 May Mobility 和 Motional 的生產勝利，為其自動駕駛汽車供應雷射雷達感測器。

We also saw increased demand from mapping inspection and warehouse automation customers who benefit from REV7's dramatic improvements in range, precision, and accuracy.

我們也看到測繪檢查和倉庫自動化客戶的需求不斷增加，他們受益於 REV7 在範圍、精度和準確度方面的顯著改進。

This growth was complemented by the promotion of Cyrille Jacquemet, our new Senior Vice President of Global Sales.

新任全球銷售高級副總裁西里爾·雅克梅 (Cyrille Jacquemet) 的晉升補充了這一增長。

Cyrille has been with Ouster since 2018 and brings a comprehensive understanding of our market verticals, deep relationships with some of our largest customers, and experienced leading high-performing sales team.

Cyrille 自 2018 年起加入 Ouster，對我們的垂直市場有全面的了解，與我們一些最大的客戶建立了深厚的關係，並擁有經驗豐富的領先高績效銷售團隊。

Turning to our second priority.

轉向我們的第二要務。

This year, we made significant advancements in our roadmap to develop the next-generation custom CMOS chips that power all of our products.

今年，我們在開發下一代客製化 CMOS 晶片（為我們所有產品提供動力）的路線圖上取得了重大進展。

First, we taped out the L4 chip, our state-of-the art ASIC that will power the next iteration of our OS sensors.

首先，我們流片了 L4 晶片，這是我們最先進的 ASIC，將為我們的作業系統感測器的下一個迭代提供動力。

We also made exciting progress on the Chronos chip, our automotive-grade custom silicon for the DF series.

我們也在 Chronos 晶片（我們為 DF 系列提供的汽車級客製化晶片）方面取得了令人興奮的進展。

This year, we plan to integrate Chronos into the final form factor DF hardware that we've already demoed to over a dozen OEMs and Tier 1s.

今年，我們計劃將 Chronos 整合到最終外形的 DF 硬體中，我們已經向十多家 OEM 和一級供應商展示了該硬體。

We also made progress on our certification roadmap to deliver functionally safe cybersecurity products that meet ASIL-B, SIL-2, and NEMA TF2 standards.

我們還在認證路線圖上取得了進展，以提供符合 ASIL-B、SIL-2 和 NEMA TF2 標準的功能性安全網路安全產品。

We achieved ISO 27001 certification, which demonstrates our commitment to meet the highest standards of data security for our customers and partners.

我們獲得了 ISO 27001 認證，這表明我們致力於為客戶和合作夥伴滿足最高的資料安全標準。

This is in addition to our ISO 9001 and ISO 14001 certifications for quality and environmental management.

這是我們對品質和環境管理的 ISO 9001 和 ISO 14001 認證的補充。

These achievements are key milestones that will help significantly expand our serviceable obtainable markets within the automotive, industrial, and smart infrastructure industries.

這些成就是重要的里程碑，將有助於顯著擴大我們在汽車、工業和智慧基礎設施產業的可用市場。

Shifting to software solutions.

轉向軟體解決方案。

Ouster bolstered its product portfolio with the launch of Ouster Gemini, our cloud backed digital lidar perception platform for cloud analytics, security, and intelligent transportation systems.

Ouster 透過推出 Ouster Gemini 增強了其產品組合，Ouster Gemini 是我們用於雲端分析、安全性和智慧交通系統的雲端支援數位雷射雷達感知平台。

This was a major milestone and added a new revenue stream, while lowering the barriers to lidar adoption and increasing stickiness with our customers.

這是一個重要的里程碑，增加了新的收入來源，同時降低了雷射雷達採用的障礙並增加了客戶的黏性。

We further expanded our solutions business with the addition of Blue City, our turnkey traffic management solution.

透過增加統包交通管理解決方案 Blue City，我們進一步擴大了我們的解決方案業務。

Throughout the year, these software solutions were enhanced with new deep learning AI perception models and partner integrations.

在這一年中，這些軟體解決方案透過新的深度學習人工智慧感知模型和合作夥伴整合得到了增強。

We booked millions in software coupled sales in 2023, and we expect the contribution from this revenue stream to continue to increase.

我們在 2023 年實現了數百萬美元的軟體耦合銷售額，我們預計該收入流的貢獻將繼續增加。

Finally, in 2023, we made significant progress to build a financially strong business.

最後，到 2023 年，我們在打造財務實力雄厚的業務方面取得了重大進展。

We closed the merger with Velodyne and transitioned Velodyne products to a lower cost manufacture in Thailand.

我們完成了與 Velodyne 的合併，並將 Velodyne 產品轉移到成本較低的泰國製造。

Our efforts to optimize our cost structure surpassed our initial post-merger annualized cost savings target by over 40% and significantly reduced our cash burn.

我們優化成本結構的努力超出了最初的合併後年化成本節約目標 40% 以上，並顯著減少了我們的現金消耗。

Through the refinancing of our term loan, we lowered our cost of capital.

透過定期貸款再融資，我們降低了資金成本。

We also implemented a new financial framework to guide Ouster toward profitability.

我們也實施了新的財務框架來引導 Ouster 獲利。

This robust business model, not only sets us apart from our peers, but also establishes a platform that we believe will deliver long-term value to our employees, customers and shareholders.

這種穩健的商業模式不僅使我們在同行中脫穎而出，而且還建立了一個我們相信將為我們的員工、客戶和股東帶來長期價值的平台。

Our achievements in 2023, complemented by our differentiated digital lidar technology and a high-powered software solutions, supports a uniquely diversified business model and will drive our near- and long-term revenue growth.

我們在 2023 年取得的成就，加上我們差異化的數位光達技術和高性能軟體解決方案，支援獨特的多元化業務模式，並將推動我們的近期和長期收入成長。

I'm excited to continue this momentum in 2024 as we execute our plan towards profitability.

我很高興能夠在 2024 年繼續執行我們的獲利計劃，保持這一勢頭。

I'll now turn the call over to our CFO, Mark Weinswig, to provide more context on our financial results for the fourth quarter and full year.

現在，我將把電話轉給我們的財務長馬克溫斯維格 (Mark Weinswig)，以提供更多有關我們第四季度和全年財務業績的背景資訊。

Thank you, Angus, and good afternoon, everyone.

謝謝你，安格斯，大家下午好。

Let me start off by discussing our latest quarterly results.

讓我先討論我們最新的季度業績。

In the fourth quarter, we recognized a record $24.4 million in revenue, a 10% increase over the third quarter.

第四季度，我們實現創紀錄的 2,440 萬美元收入，比第三季成長 10%。

The robotics vertical was the largest contributor to revenue followed by smart infrastructure.

機器人垂直領域是收入的最大貢獻者，其次是智慧基礎設施。

Both verticals had multiple customers, each generating over $1 million of revenue, which illustrates the evolution of our customers from pilot test to commercial deployments.

這兩個垂直行業都有多個客戶，每個客戶產生超過 100 萬美元的收入，這說明了我們的客戶從試點測試到商業部署的演變。

In Q4, we shipped over 4,100 sensors, a record quarter for Ouster.

第四季度，我們發貨了 4,100 多個感測器，這是 Ouster 創紀錄的季度。

GAAP gross margins improved approximately 800 basis points to 22% versus 14% in the prior quarter.

GAAP 毛利率提高了約 800 個基點，達到 22%，而上一季為 14%。

Non-GAAP gross margins improved to 35% in the fourth quarter and reached the highest levels since the merger.

第四季非 GAAP 毛利率提高至 35%，達到合併以來的最高水準。

GAAP operating expenses of $43 million were higher sequentially driven by a litigation settlement and higher stock-based compensation expenses.

由於訴訟和解和股票補償費用增加，GAAP 營運費用較上季增加 4,300 萬美元。

We expect our GAAP operating expenses to fluctuate quarter to quarter, and we remain focused on improving operating expenses at or below third-quarter 2023 levels.

我們預計我們的 GAAP 營運費用將按季度波動，我們仍然致力於將營運費用改善至或低於 2023 年第三季的水平。

Turning to full-year results, for 2023, we reported record revenues of $83 million, an increase of 103% year over year.

談到全年業績，2023 年我們的營收達到創紀錄的 8,300 萬美元，年增 103%。

Bookings were $142 million and represented a book-to-bill ratio of 1.7 times.

預訂量為 1.42 億美元，預訂出貨比為 1.7 倍。

We expect to continue to report bookings on an annual basis.

我們預計將繼續每年報告預訂情況。

During 2023, we shipped over 13,500 sensors and achieved an average selling price of roughly $6,000.

2023 年，我們售出了 13,500 多個感測器，平均售價約為 6,000 美元。

Full-year GAAP gross margins were 10%, and non-GAAP gross margins were 30%.

全年 GAAP 毛利率為 10%，非 GAAP 毛利率為 30%。

GAAP operating expenses were $382 million, which included goodwill impairment charges of $167 million.

GAAP 營運費用為 3.82 億美元，其中包括 1.67 億美元的商譽減損費用。

Looking back, 2023 marked a year of transition as we successfully executed a plan to transform our cost structure, drive revenue growth, and put us on a path to profitability.

回顧過去，2023 年是轉型的一年，我們成功執行了成本結構轉型計劃、推動收入成長並走上獲利之路。

In each quarter since the merger, we delivered sequentially higher revenues, higher gross margins, and improved adjusted EBITDA.

自合併以來的每個季度，我們的營收、毛利率均連續上升，調整後 EBITDA 也有所改善。

We also made significant financial progress by cutting our cash burn rate by over 50% since Q1 of 2023, lowering our cost of debt and improving our working capital management.

自 2023 年第一季以來，我們還透過將現金消耗率降低了 50% 以上、降低了債務成本並改善了營運資金管理，取得了重大財務進展。

Overall, these accomplishments put Ouster in a strong position as we enter 2024.

總體而言，這些成就使 Ouster 在進入 2024 年時處於有利地位。

We believe we have the most performant family of sensors on the market, one of the broadest customer bases in the industry, and a strong balance sheet with $192 million in cash, cash equivalents, restricted cash, and investments, and short-term investments as of December 31.

我們相信，我們擁有市場上表現最強的感測器系列、業內最廣泛的客戶群之一，以及強大的資產負債表，其中包括 1.92 億美元的現金、現金等價物、限制性現金、投資和短期投資。 12 月31 日。

Our cash balance at year end includes approximately $11 million raised via our ATM during the quarter, reflecting our strategy to maintain a strong balance sheet to help fund our future growth.

我們年末的現金餘額包括本季透過 ATM 籌集的約 1,100 萬美元，反映了我們保持強勁的資產負債表以幫助為未來成長提供資金的策略。

Moving to our revenue guidance.

轉向我們的收入指引。

For the first quarter of 2024 Ouster is targeting between $25 million and $26 million.

Ouster 2024 年第一季的目標是 2,500 萬至 2,600 萬美元。

This represents a sequential increase in revenue for the first quarter, which has historically been a seasonally weaker quarter.

這代表第一季營收季增，而歷史上該季一直是季節性疲軟的季度。

I'll now turn the call back to Angus to share our 2024 goals and closing remarks.

現在我將把電話轉回 Angus，分享我們的 2024 年目標和結束語。

Thanks, Mark.

謝謝，馬克。

For 2024, we are focused on three strategic priorities for the business, which will extend our competitiveness, accelerate lidar adoption, and advanced Ouster on the path to profitability.

2024 年，我們將重點放在業務的三個策略重點，這將增強我們的競爭力，加速雷射雷達的採用，並推動 Ouster 走上獲利之路。

First, expand our software solutions and grow our installed base.

首先，擴展我們的軟體解決方案並擴大我們的安裝基礎。

Second, advance the development of digital lidar hardware.

二是推動數位光達硬體發展。

And third, make meaningful progress on our long-term financial framework.

第三，在我們的長期財務框架方面取得有意義的進展。

Ouster's smart infrastructure solutions, Ouster Gemini and Blue City, are enabling customers to improve operational efficiency and safety.

Ouster 的智慧基礎設施解決方案 Ouster Gemini 和 Blue City 可協助客戶提高營運效率和安全性。

We plan to release new subscription-based software tools later this year that improve the ease of installation and provide additional statistics and analytics to customers.

我們計劃在今年稍後發布新的基於訂閱的軟體工具，以提高安裝的便利性，並為客戶提供額外的統計數據和分析。

These tools will support expanded adoption by existing customers, as well as new opportunities at global logistics companies, security integrators, and transportation authorities.

這些工具將支援現有客戶的擴大採用，並為全球物流公司、安全整合商和運輸當局帶來新的機會。

With millions of signalized intersections around the world and the global market for end system security cameras already estimated at $32 billion, we expect software coupled sales to be a key contributor to future growth.

全球有數百萬個號誌交叉口，終端系統安全攝影機的全球市場估計達 320 億美元，我們預期軟體耦合銷售將成為未來成長的關鍵貢獻者。

For example, within smart infrastructure, Ouster was selected by a leading global logistics company for a multimillion dollar deal to deploy our digital lidar hardware, coupled with Ouster Gemini at approximately 130 logistics sites.

例如，在智慧基礎設施領域，一家全球領先的物流公司選擇 Ouster 進行一項價值數百萬美元的交易，以部署我們的數位雷射雷達硬件，並在大約 130 個物流站點部署 Ouster Gemini。

This represents approximately 5% of this customer's global footprint.

這約佔該客戶全球足跡的 5%。

We see a massive opportunity to expand the deployment of our digital lidar solution to more sites over time and to replicate this offering with other leading logistics companies.

我們看到了巨大的機會，可以隨著時間的推移將我們的數位雷射雷達解決方案的部署擴展到更多站點，並與其他領先的物流公司複製這一產品。

Turning to hardware, Ouster continues to progress on its digital lidar roadmap, developing technologies that will enhance operating performance, expand the serviceable obtainable market, and provide further differentiation versus peers.

談到硬件，Ouster 繼續在其數位雷射雷達路線圖上取得進展，開發能夠提高營運性能、擴大可用市場並提供與同行相比的進一步差異化的技術。

Ouster's next-generation custom silicon chip, the L4, has been taped out and expected to bring significant improvements in range, field of view, and manufacturability, along with safety certifications to the OS sensor family.

Ouster 的下一代客製化矽晶片 L4 已經流片，預計將在範圍、視野和可製造性方面帶來顯著改進，並為作業系統感測器系列提供安全認證。

In addition, we plan to integrate the Chronos chip into our solid-state digital flash sensors later this year.

此外，我們計劃在今年稍後將 Chronos 晶片整合到我們的固態數位快閃記憶體感測器中。

Finally, Ouster has set a financial framework focused on achieving 30% to 50% annual revenue growth, expanding gross margins to 35% to 40%, and maintaining operating expenses at or below third-quarter 2023 levels.

最後，Ouster 制定了一個財務框架，重點是實現 30% 至 50% 的年度收入成長，將毛利率擴大至 35% 至 40%，並將營運費用維持在或低於 2023 年第三季的水平。

We expect 2024 results to show meaningful progress against this framework, putting Ouster on a path to profitability.

我們預計 2024 年的業績將在這一框架上顯示出有意義的進展，使 Ouster 走上獲利之路。

In closing, Ouster was founded on the premise that lidar needs to be digital if it is going to be ubiquitous.

最後，Ouster 成立的前提是光達要普及就必須數位化。

Designed around a silicon CMOS architecture, the performance of digital lidar can scale exponentially in line with Moore's Law.

數位光達採用矽 CMOS 架構設計，其性能可依摩爾定律呈指數級擴展。

Our digital approach enables low-cost customization that opens up broad industry applications, while maintaining a streamlined manufacturing process that is designed for scalability.

我們的數位方法可實現低成本客製化，從而開闢廣泛的行業應用，同時保持專為可擴展性而設計的簡化製造流程。

Now, with cloud-based software solutions, we are offering even more features, simplifying adoption, and expanding the use case for lidar.

現在，透過基於雲端的軟體解決方案，我們提供了更多功能、簡化了採用並擴展了雷射雷達的用例。

We have a proven ability to manufacture at scale with positive gross margins and have demonstrated a strong track record of growth with record revenue and bookings over the last year.

我們擁有規模化生產和正毛利率的成熟能力，並在去年創下了創紀錄的收入和預訂量，展現了強勁的成長記錄。

Our REV7 sensors are driving increased demand from material handling, mapping and robo-taxi customers.

我們的 REV7 感測器正在推動物料搬運、測繪和機器人計程車客戶不斷增長的需求。

We see major opportunities to expand and replicate Ouster Gemini and Blue City deployments to existing and new customers throughout the year.

我們看到全年向現有和新客戶擴展和複製 Ouster Gemini 和 Blue City 部署的重大機會。

As a trusted American lidar provider, Ouster is poised to capture increasing market share as the adoption of lidar accelerates across industries, and I am as confident as ever in Ouster's future.

作為值得信賴的美國光達供應商，隨著光達在各行業的加速採用，Ouster 已準備好佔領越來越大的市場份額，我對 Ouster 的未來一如既往地充滿信心。

With that, I'd like to open it for Q&A.

說到這裡，我想打開它進行問答。

(Operator Instructions) Andres Sheppard, Cantor Fitzgerald.

（操作員說明）Andres Sheppard、Cantor Fitzgerald。

Hi, good morning, good afternoon, everyone, and congratulations on the quarter, and thanks for taking our question.

大家好，早安，下午好，恭喜這個季度，感謝您提出我們的問題。

Angus, I wanted to maybe get your thoughts around the auto industry, and where that stands in terms of beginning to fully ramp up on lidar sensors?

安格斯（Angus），我想了解您對汽車行業的看法，以及在開始全面發展光達感測器方面，您的想法是什麼？

I obviously realize auto is not a core vertical for you guys, but just curious what trends you're seeing as it pertains to the auto industry?

我顯然意識到汽車對你們來說並不是一個核心垂直領域，但只是好奇你們看到的與汽車產業有關的趨勢是什麼？

Thank you.

謝謝。

Thanks for the question.

謝謝你的提問。

Well, the auto industry is an interesting beast for lidar, because it represents huge promise, but also huge uncertainty given that uncertainty and timelines of adopting that technology.

嗯，汽車行業對於雷射雷達來說是一個有趣的野獸，因為它代表著巨大的前景，但考慮到採用該技術的不確定性和時間表，也存在巨大的不確定性。

And for that reason, Ouster has taken a measured approach that we feel very confident in with our automotive strategy.

出於這個原因，Ouster 採取了謹慎的方法，我們對我們的汽車策略非常有信心。

And automotive is one of our four key markets.

汽車是我們的四個主要市場之一。

We have a well-established set of automotive customers that we sell into today, and we're developing our new DF products to specifically target the high-volume consumer ADAS opportunity that, again, is a massive opportunity with an uncertain timeline.

今天，我們擁有一群成熟的汽車客戶，我們正在開發新的 DF 產品，專門針對大批量消費者 ADAS 機會，這也是一個時間不確定的巨大機會。

Now, what Ouster is doing differently is focusing on building a product that we believe can capture that market and in the long run built to the holy grail of what the market needs, which is a high-performance, compact, and affordable sensor, and sensor suite, actually, that can play across many different form factors, vehicle types, models, and levels of autonomy.

現在，Ouster 所做的不同之處在於，專注於打造一款我們相信能夠佔領該​​市場的產品，並從長遠來看，打造出滿足市場需求的聖杯，即高性能、緊湊且價格實惠的傳感器，以及實際上，感測器套件可以在許多不同的外形尺寸、車輛類型、型號和自主等級上發揮作用。

I mean, that's represented with the DF sensor.

我的意思是，這是用 DF 感測器來表示的。

And here, it's much more important to build the right thing and build it on a timeline that actually sets us up for decades of success versus being first to the market.

在這裡，更重要的是打造正確的產品並按照時間表建立它，這實際上使我們能夠取得數十年的成功，而不是率先進入市場。

And waiting in some cases now as we're seeing for automakers to actually adopt a product that has come before the market is really ready for it.

在某些情況下，我們現在正在等待，因為我們看到汽車製造商實際上採用了在市場真正準備好之前就已經推出的產品。

And so I'm really happy -- we actually made major progress from the DF product line in 2023.

所以我真的很高興——我們實際上在 2023 年從 DF 產品線取得了重大進展。

I was able to personally be present to demo the DF sensors with automakers and Tier 1s in 2023.

2023 年，我能夠親自與汽車製造商和一級供應商一起演示 DF 感測器。

We got great feedback on the architecture, again, small form factor, high pixel density, great range resolution field of view, and fully solid-state to meet the ruggedness the automotive industry.

我們再次對該架構獲得了很好的回饋，包括小外形尺寸、高像素密度、大範圍分辨率視野以及滿足汽車行業耐用性的全固態。

And now, we're back to executing on building the final devices.

現在，我們又回到了建造最終設備的階段。

And that really hinges on this Chronos chip, where we have a world-class team and silicon designers that are building the final Chronos silicon that's going to go into the high volume DF products.

這實際上取決於 Chronos 晶片，我們擁有世界一流的團隊和晶片設計師，他們正在構建最終的 Chronos 晶片，該晶片將用於大批量 DF 產品。

And that's something that is going to happen this year.

這就是今年將會發生的事情。

Got it.

知道了。

Thanks, Angus.

謝謝，安格斯。

That was super helpful.

這非常有幫助。

I really appreciate that.

我真的很感激。

Maybe a question for Mark next is, as you continue to improve your gross margins, and as you're inching closer to that 35% to 40% target, what kind of blended ASPs -- what's the best way to think about those ASPs for 2024 relative to this past quarter?

也許馬克的下一個問題是，隨著您繼續提高毛利率，並且越來越接近 35% 到 40% 的目標，什麼樣的混合 ASP 是考慮這些 ASP 的最佳方式？2024 年相對於上個季度？

Just curious what trends, or what's the best way we can think about incorporating that into our model?

只是好奇什麼趨勢，或者我們可以考慮將其納入我們的模型的最佳方法是什麼？

Thank you.

謝謝。

Yeah, thank you for the question.

是的，謝謝你的提問。

So first of all, this quarter, Ouster sold a record number of sensors.

首先，本季度，Ouster 銷售了創紀錄數量的感測器。

We had a great quarter in terms of shipments and meeting customer demand.

我們在出貨量和滿足客戶需求方面度過了一個出色的季度。

A lot of demand came in at the end of the quarter, a lot of interest, and that's also what led to our very high book-to-bill ratio.

季度末出現了大量需求和大量興趣，這也是導致我們的訂單出貨比非常高的原因。

In terms of ASPs going forward, we did have a slight decline quarter to quarter on ASPs, but it was nothing more than just a product mix shift in the quarter between different SKUs.

就未來的平均售價而言，我們的平均售價確實按季度略有下降，但這只不過是本季不同 SKU 之間的產品組合變化。

So the good news for us is that our margins continue to improve.

因此，對我們來說好消息是我們的利潤率持續提高。

And that's basically because of a couple of things.

這主要是因為以下幾件事。

One is obviously revenue growth.

一是明顯的收入成長。

Number two is that we are seeing a lower amount of excess and obsolete, or some of these charges associated with the merger.

第二是我們看到過剩和過時的數量減少，或其中一些與合併相關的費用減少。

And third is we are seeing just overall cutting of cost internally.

第三，我們看到內部成本整體削減。

So we put together a structure this year to reduce our cost structure.

因此，我們今年整合了一個結構來降低我們的成本結構。

We've been moving products overseas for contract manufacturing, and we are becoming more efficient.

我們一直在將產品轉移到海外進行合約製造，而且我們正在變得更有效率。

So those things have led for us to be able to increase our margins to basically that 35% level.

因此，這些因素使我們能夠將利潤率提高到 35% 的水平。

And obviously, we're very happy by the performance in the quarter.

顯然，我們對本季的表現非常滿意。

Got it.

知道了。

That's helpful.

這很有幫助。

Maybe just one last one, if I could.

如果可以的話，也許只是最後一件事。

In regards to your liquidity, can you just remind us what is the expected run rate now with the balance of $192 million?

關於你們的流動性，你能否提醒我們，目前餘額為 1.92 億美元，預計運行率是多少？

Yeah.

是的。

We have $192 million in cash, investment securities as of the end of December.

截至 12 月底，我們擁有 1.92 億美元的現金和投資證券。

This quarter, we have reduced our adjusted EBITDA loss to $14 million in cash burn.

本季度，我們將調整後的 EBITDA 現金消耗量減少至 1,400 萬美元。

We're continuing to see opportunities to grow our revenues, reduce our costs, and improve our margins.

我們不斷尋找增加收入、降低成本、提高利潤的機會。

So our goal is to continue to move down that path to profitability.

因此，我們的目標是繼續沿著這條獲利之路前進。

And one thing we did in the November is we did laid out that financial framework, and obviously, we're hitting on all cylinders to go to meet that framework.

我們在 11 月做的一件事是，我們確實制定了財務框架，顯然，我們正在全力以赴以滿足該框架。

Got it.

知道了。

Great.

偉大的。

Thanks, again.

再次感謝。

Congrats on the quarter.

恭喜本季。

I'll pass it on.

我會把它傳遞下去。

Thank you.

謝謝。

Brian Dobson, Chardan Capital Markets.

布萊恩·多布森，查丹資本市場。

Thanks.

謝謝。

Good evening.

晚安.

Angus, do you think you could perhaps give a little bit of color on what you're seeing in the industrial market right now and kind of how you view that business in comparison with automotive vis-à-vis margin and time spent with clients in order to execute deals?

安格斯（Angus），您是否可以對您現在在工業市場中看到的情況進行一些說明，以及您如何看待該業務與汽車行業的利潤率以及與客戶相處的時間。命令執行交易？

Sure.

當然。

Thanks for the question, Brian.

謝謝你的提問，布萊恩。

There are many corollaries in terms of time to market between the industrial market and the automotive market.

工業市場和汽車市場之間的上市時間有許多推論。

But the rollout of the technology can happen more linearly, which allows for industrial customers to track to a more expected timeline for the rollout of the technology.

但該技術的推出可以更加線性地進行，這使得工業客戶能夠追蹤該技術的更預期的推出時間表。

So what we've seen is that by engaging with a large number of industrial players, we're able to identify the industrial companies that can create a set of parameters that allows them to get their product out quickly and really invest in those players.

因此，我們看到的是，透過與大量工業參與者合作，我們能夠識別出能夠創建一組參數的工業公司，這些參數使他們能夠快速推出產品並真正投資於這些參與者。

And each and every year, a new set of industrial companies has a mature enough product that they can bring that to market and start to expand their purchasing with us and bring expanding volumes to market.

每年，一批新的工業公司都會擁有足夠成熟的產品，他們可以將其推向市場，並開始擴大與我們的採購，並將不斷擴大的產量推向市場。

And so, that's much more of a predictable cadence, because there are a lot of customers in this space and because industrial players are able to constrain the problem that they're embarking on much better than the automotive players where it's kind of all or nothing.

因此，這更像是一個可預測的節奏，因為這個領域有很多客戶，而且工業參與者能夠比汽車參與者更好地限制他們正在著手解決的問題，因為汽車參與者是全有或全無。 。

And so, that's led to a much more predictable business for Ouster.

因此，這為 Ouster 帶來了更可預測的業務。

There are still many benefits for Ouster in the industrial space versus consumer automotive in terms of gross margins and ASP expectations.

就毛利率和平均售價預期而言，與消費性汽車領域相比，Ouster 在工業領域仍有許多優勢。

And that really just falls to the type of end customer.

這實際上取決於最終客戶的類型。

It's not a consumer.

它不是消費者。

Generally, industrial players are selling B2B to other industrial players and the equipment costs that they're putting our lidar on are much more expensive.

一般來說，工業企業向其他工業企業銷售 B2B，他們安裝我們的雷射雷達的設備成本要貴得多。

So multimillion dollar pieces of industrial machinery, construction equipment, mining equipment can tolerate a higher price point, higher ASPs than the consumer automotive industry.

因此，價值數百萬美元的工業機械、建築設備、採礦設備可以承受比消費汽車產業更高的價格點和更高的平均售價。

So that just has led to -- again, it's kind of reflected in our results, our ASP resilience over the last year and the solid quarter-on-quarter revenue build that we've shown for four quarters now since the merger is really because of the dynamics I just laid out in the industrial sector.

因此，這再次反映在我們的業績、我們去年的 ASP 彈性以及自合併以來我們已經展示了四個季度的穩健的季度收入增長中，這實際上是因為我剛才闡述的工業部門的動態。

Excellent.

出色的。

Thanks very much.

非常感謝。

Kevin Cassidy, Rosenblatt Securities.

凱文·卡西迪，羅森布拉特證券公司。

Yes, thanks for taking my question and congratulations on the great results and great progress.

是的，感謝您提出我的問題，並祝賀取得的巨大成果和巨大進步。

But along those lines, on the gross margin you're at 35%.

但依照這些思路，毛利率為 35%。

So you're getting very close to your target.

所以你已經非常接近你的目標了。

But can you say what the moving parts are for potential improvement from here?

但您能說說從這裡開始有哪些可改進的地方嗎？

Is it lower material costs as revenues or units increase or is software the larger component of lifting gross margin?

是隨著收入或銷售量的增加而降低材料成本，還是軟體成為提高毛利率的更大組成部分？

Yes.

是的。

So I'll hit on the couple of items that led to the kind of improvements over the last couple of quarters, and I'm sure Angus will want to talk a little bit about kind of the software opportunity.

因此，我將談談在過去幾個季度中帶來改進的幾個項目，我相信 Angus 會想談談軟體機會的類型。

After we did the merger, the most important thing was really reducing the cost structure of the organization.

我們合併後，最重要的是真正降低組織的成本結構。

The operations and manufacturing group put a huge effort in terms of that.

營運和製造團隊在這方面付出了巨大的努力。

We're able to move almost all the Velodyne sensors overseas in the first few months, and now we're actually 100% outsourced over to our partner over in Thailand.

我們能夠在最初幾個月內將幾乎所有 Velodyne 感測器轉移到海外，現在我們實際上 100% 外包給我們在泰國的合作夥伴。

That's led to a significant reduction in our overall cost.

這導致我們的總體成本顯著降低。

We've also seen a big increase in our volumes that's also given us additional opportunities in terms of operating leverage.

我們也看到銷售量大幅增加，這也為我們在營運槓桿方面提供了更多機會。

So those are the two main factors that we've seen really in the last -- since the beginning of this year.

這些是我們去年以來——自今年年初以來真正看到的兩個主要因素。

And then obviously, the release of the REV7 sensor, which has just -- it's the most performance sensor in the market.

顯然，REV7 感測器的發布，它是市場上性能最強的感測器。

We have a higher ASP, a lot of customer interest in that, and that's really led to us to see overall improvements in our gross margins.

我們的平均售價更高，客戶對此很感興趣，這確實讓我們看到了毛利率的整體改善。

Now going forward, I'll leave it to Angus to kind of walk through some of the go-forward opportunities from the software side.

現在，我將讓 Angus 來介紹軟體方面的一些前進機會。

Now going forward are limiting it to kind of walk through some of the go-forward opportunities on that from the software side?

現在，未來是否將其限制為從軟體方面探討一些前進的機會？

Yeah, absolutely.

是的，絕對是。

And I would highlight that there's further opportunity to produce unique features and capabilities in our next generation of OS sensors.

我想強調的是，我們還有更多機會在下一代作業系統感測器中產生獨特的特性和功能。

So REV7 has shown that kind of immense success that we can tap by iterating on our silicon and driving new capability in the lidar hardware.

因此，REV7 已經取得了巨大的成功，我們可以透過迭代我們的晶片並推動雷射雷達硬體的新功能來利用這一成功。

We're going to continue that with the L4 chip and the next generation of OS and DF sensors.

我們將繼續使用 L4 晶片和下一代作業系統和 DF 感測器。

But on the software side, with the solutions business that we've developed in the last year with Ouster Gemini and Blue City, we see an opportunity to expand our margin in that business, and potentially expand that the rate of adoption of lidar technology for the smart infrastructure use cases as an added benefit to the software play that we're making there.

但在軟體方面，透過我們去年與 Ouster Gemini 和 Blue City 開發的解決方案業務，我們看到了擴大該業務利潤的機會，並有可能擴大雷射雷達技術的採用率智慧基礎設施用例是我們在那裡開發的軟體的額外優勢。

So you can imagine that the majority of customers that are buying Ouster lidar have some significant investment in software that they are making to build a complete solution.

因此，您可以想像，大多數購買 Ouster 雷射雷達的客戶都對軟體進行了大量投資，以建立完整的解決方案。

And that investment is something that we are now able to sell and provide value ourselves through these complete solutions that we're providing in smart infrastructure.

我們現在可以透過我們在智慧基礎設施中提供的完整解決方案自行出售和提供價值。

So I think that there's more to come there on the margin side.

所以我認為在利潤方面還有更多的事情要做。

Okay, great.

好的，太好了。

Yeah.

是的。

I was going to that question with the L4 if you expected ASPs to go up further.

如果您期望 ASP 進一步上升，我就用 L4 來回答這個問題。

And maybe as long as I'm asking the question, how do you handle software revenue?

也許只要我問這個問題，你們如何處理軟體收入？

Is it going to be folded into the average selling price amortized over the number of sensors or is it going to be a separate line item?

它是否會被納入按感測器數量攤銷的平均售價中，還是會成為一個單獨的項目？

Yeah, it's a great question, and we are as software does grow, you will start to see that we'll start to break out more information on that and that'll probably start to happen over the next year or so.

是的，這是一個很好的問題，隨著軟體的發展，你會開始看到我們將開始透露更多相關信息，這可能會在明年左右開始發生。

But we are really excited about the amount of deployments that we've already done to date and what that looks like.

但我們對迄今為止已經完成的部署數量及其外觀感到非常興奮。

We are still refining the model as we work with customers, and that will change over time as more customers come into the fold and start seeing the opportunity for the Ouster product line.

我們仍在與客戶合作時完善該模型，隨著時間的推移，隨著越來越多的客戶加入並開始看到 Ouster 產品線的機會，這種情況將會改變。

Yeah.

是的。

And I would add, I mean the majority of our software revenue is a subscription based software business.

我想補充一點，我的意思是我們的大部分軟體收入都是基於訂閱的軟體業務。

So we're already seeing customer willingness to adopt that model into the smart infrastructure sector.

因此，我們已經看到客戶願意在智慧基礎設施領域採用該模型。

Okay, great.

好的，太好了。

Thanks, and congratulations again.

謝謝，並再次恭喜。

Thank you.

謝謝。

(Operator Instructions) Shadi Mitwalli, Craig-Hallum.

（操作員說明）Shadi Mitwalli，Craig-Hallum。

Hey, this is Shadi Mitwalli on for Richard Shannon.

嘿，我是理查德·香農 (Richard Shannon) 的沙迪·米特瓦利 (Shadi Mitwalli)。

Congrats on the side, guys.

恭喜你，夥伴們。

My first question is on your Q1 guidance.

我的第一個問題是關於第一季的指導。

Q1 guidance implies 35% growth year over year, which is on the lower end of your full-year guidance of 30% to 50% growth.

第一季指引意味著年增 35%，低於全年 30% 至 50% 成長指引的下限。

So maybe here, what is giving you the confidence that you'll be able to maintain that 30%-plus growth throughout 2024?

那麼，是什麼讓您有信心在 2024 年維持 30% 以上的成長呢？

Yeah, thanks for the question.

是的，謝謝你的提問。

I mean, we really highlighted three strategic priorities for Ouster and the first two are focused on growth.

我的意思是，我們確實強調了 Ouster 的三個策略重點，前兩個重點是成長。

So those being the software solutions, expanded business, the advancement in our digital lidar hardware, both at OS and DF, and the third priority, just executing more generally on the financial framework we've laid out.

因此，這些是軟體解決方案、業務擴展、我們數位光達硬體的進步（OS 和 DF），以及第三個優先事項，即在我們制定的財務框架上更普遍地執行。

But focusing on the first two, we've seen incredible uptake and rapid uptake in the Gemini platform and the Blue City platform.

但重點關注前兩個，我們看到了 Gemini 平台和 Blue City 平台令人難以置信的採用率和快速採用率。

And I have a really positive outlook on how we're going to be able to expand that line of business more quickly with customers than our traditional lidar hardware business alone.

我對我們如何能夠比傳統光達硬體業務更快地與客戶一起擴展該業務線抱有非常積極的看法。

And that's really because we're providing the full solution for the first time in the smart -- with these software solutions.

這實際上是因為我們首次透過這些軟體解決方案在智慧領域提供完整的解決方案。

Generally, the time from first revenue to meaningful revenue with a customer in something like the automotive or industrial space is because the customer themselves is developing a full software solution on top of the hardware that they're purchasing.

一般來說，在汽車或工業領域，從首次收入到為客戶帶來有意義的收入所需的時間是因為客戶自己正在他們購買的硬體之上開發完整的軟體解決方案。

By circumventing that and selling them the complete solution day one, it's allowed us to build a much faster revenue base for partners that are willing to purchase that complete solution from us.

透過規避這個問題並在第一天向他們出售完整的解決方案，我們就可以為願意從我們這裡購買完整解決方案的合作夥伴建立更快的收入基礎。

It's also allowing us to tap completely new markets.

它還使我們能夠開拓全新的市場。

So Gemini is positioned to be sold into the security and crowd analytics space.

因此，Gemini 的定位是進入安全和人群分析領域。

And the security industry, all told, $32 billion of security systems sold every year globally.

總而言之，安全產業每年全球安全系統的銷售額達 320 億美元。

So a massive market with well-established customer base and a clear value proposition from Ouster Gemini to provide the next level of performance from a complete solution.

因此，Ouster Gemini 擁有一個龐大的市場，擁有完善的客戶群和明確的價值主張，可以透過完整的解決方案提供更高水準的效能。

So going after big markets, there are new opportunities for Ouster and they're also sped to adoption by the fact that it's a complete solution.

因此，追求大市場，Ouster 就有了新的機會，而且由於它是一個完整的解決方案，它們也加速了採用。

Something a little different is happening, but on the hardware side itself.

正在發生一些不同的事情，但是是在硬體方面。

But each time we upgrade the OS sensors is an opportunity to remove barriers for a customer to adopt lidar technology.

但每次我們升級作業系統感測器都是一個消除客戶採用光達技術障礙的機會。

We're able to provide more features, more performance, more environmental robustness, to a customer that allows them to circumvent some of the challenging scenarios that they might get into.

我們能夠為客戶提供更多的功能、更高的效能、更強的環境穩健性，使他們能夠規避可能遇到的一些具有挑戰性的場景。

A good example, a mining machine that's used to operating in a dusty environment, with the REV7 sensors, those sensors can pierce through dust in a way that previous generations of lidar can't.

一個很好的例子，一台習慣在灰塵環境中運作的採礦機，使用 REV7 感測器，這些感測器可以穿透灰塵，而前幾代雷射雷達則無法做到這一點。

That allows a customer to just remove a whole set of problems from the scope of their entire system design.

這使得客戶可以從整個系統設計範圍中消除一整套問題。

So things like that give us confidence that we're going to continue on this trajectory of building to the long-term model and hitting within those bounds that we established on revenue growth, 30% to 50%.

因此，這樣的事情讓我們有信心，我們將繼續沿著這條軌道建立長期模型，並達到我們為收入成長設定的範圍（30% 到 50%）。

And obviously, one key thing is that we had a great year in booking.

顯然，一個關鍵的事情是我們在預訂方面度過了愉快的一年。

So we booked over $140 million.

所以我們預訂了超過 1.4 億美元。

So when you ask kind of what gives us the confidence that we can continue to grow, we've just shown that we've been able to see huge interest.

因此，當您問是什麼讓我們有信心繼續發展時，我們只是表明我們已經能夠看到巨大的興趣。

And by the way, these are take or pay binding orders that we received from customers.

順便說一句，這些是我們從客戶那裡收到的有約束力的接受或付款訂單。

Awesome.

驚人的。

That makes sense.

這就說得通了。

And thanks for the color on that.

謝謝你的顏色。

Kevin Kerrigan, WestPark Capital.

凱文克里根 (Kevin Kerrigan)，WestPark Capital。

Yeah.

是的。

Hey, good afternoon Angus and Mark and thanks for taking my questions and congrats on the results.

嘿，下午好，安格斯和馬克，感謝您回答我的問題，並對結果表示祝賀。

I think I asked you this last quarter, but any update on what software revenues were this quarter?

我想我在上個季度問過您這個問題，但是本季的軟體收入有什麼更新嗎？

Is it too small?

是不是太小了？

Or is it still too small?

還是還是太小了？

And any plans to expand software into other end markets?

是否有計劃將軟體擴展到其他終端市場？

Yeah, so we aren't breaking software revenues out.

是的，所以我們不會公佈軟體收入。

At this point, we have mentioned that we've booked millions of dollars in software-attached business, software-coupled business.

在這一點上，我們已經提到我們已經預訂了數百萬美元的軟體附加業務、軟體耦合業務。

That's the combination of the software solution with the lidar hardware that we're selling.

這是軟體解決方案與我們銷售的光達硬體的結合。

We put out a pretty fulsome press release in Q3 around the traction that we've seen over 300 sites deployed with our software solutions to date in 2023.

我們在第三季發布了一份相當豐富的新聞稿，介紹了截至 2023 年，我們已經看到超過 300 個網站部署了我們的軟體解決方案。

And so, I think we're with the rate of deployment, but we'll be breaking out software metrics specifically when we feel that they've grown to a degree where it's relevant.

因此，我認為我們正在關注部署速度，但當我們認為軟體指標已經成長到相關程度時，我們將專門將軟體指標分解。

And then, I'm sorry, what was the second part of the question?

然後，抱歉，問題的第二部分是什麼？

Just whether you guys have any plans to expand into other end markets?

只是你們是否有計劃擴展到其他終端市場？

Yeah, I think that there is absolutely an opportunity to bring autonomy solutions into the industrial robotics and automotive markets, potentially in that order.

是的，我認為絕對有機會將自主解決方案引入工業機器人和汽車市場，可能會以這個順序。

We started with smart infrastructure first because it has some of the largest existing, pre-existing established markets.

我們首先從智慧基礎設施開始，因為它擁有一些最大的現有市場。

For instance, the security market, the traffic systems market, and some of the lowest technical challenges to solve, because it's fixed infrastructure versus safety critical moving assets.

例如，安全市場、交通系統市場以及一些需要解決的最低技術挑戰，因為它是固定基礎設施與安全關鍵的移動資產。

But that being said, I think that there's a potential for us to continue to build these software offerings in other businesses.

但話雖這麼說，我認為我們有潛力繼續在其他業務中建立這些軟體產品。

So, stay tuned.

所以，請繼續關注。

I think the Ouster, 5 to 10 years from now, will look very different on what kind of software we're providing than the Ouster of today.

我認為 5 到 10 年後，我們提供的軟體類型與今天的 Ouster 將會有很大不同。

Yeah.

是的。

No, that makes sense.

不，這是有道理的。

Okay, perfect.

好的，完美。

And just as a follow-up, as you kind of look back at 2023 and then looking forward to 2024, did the rate of customers looking to become more autonomous and adopt lidar in whether it's a smart infrastructure or warehouses or robotics, did that kind of play out as you thought it would in 2023?

作為後續行動，當你回顧 2023 年，然後展望 2024 年時，希望變得更加自主並採用激光雷達的客戶比例，無論是智能基礎設施、倉庫還是機器人技術，有多少？2023 年的情況會如您所想嗎？

And do you see that rate kind of accelerating in 2024?

您認為 2024 年這一速度會有所加快嗎？

Absolutely.

絕對地。

And I was going to save this remark for the end, but I think it's appropriate now.

我原本打算把這句話留到最後，但我認為現在是合適的。

For those of you that tuned into Jensen Huang, CEO of NVIDIA's presentation at GTC last week, he said it extremely well.

對於那些看過 NVIDIA 執行長黃仁勳上週在 GTC 演講的人來說，他說得非常好。

He said everything that moves in the future will be robotic.

他說，未來所有移動的東西都將是機器人。

And increasingly, lidar sensors are what's giving those machines the eyesight.

光達感測器越來越多地為這些機器提供了視力。

And that is an immense tailwind for our business in 2024 and beyond.

這對我們 2024 年及以後的業務來說是一個巨大的推動力。

Robotics is already one of our key markets.

機器人技術已經是我們的主要市場之一。

And so, we think that we are extremely well poised to capture the increased focus on automation and autonomy across a diversity of end markets.

因此，我們認為我們已經做好充分準備，抓住各種終端市場對自動化和自主性的日益關注。

And things like the advancements in AI, the availability of performance, and affordable AI chips and co-processors is the perfect complement to our business.

人工智慧的進步、性能的可用性以及價格實惠的人工智慧晶片和協處理器等都是對我們業務的完美補充。

So we absolutely think that we're taking advantage of those trends, given that we focus from the start on being a diversified customer that is playing in these adjacent industries to automotive.

因此，我們絕對認為我們正在利用這些趨勢，因為我們從一開始就專注於成為在汽車相關行業中發揮作用的多元化客戶。

Yeah, no.

是的，不。

That makes a ton of sense.

這很有道理。

I completely agree.

我完全同意。

Okay, perfect.

好的，完美。

I appreciate the detail.

我很欣賞細節。

Thanks, guys.

多謝你們。

This concludes the question-and-answer session.

問答環節到此結束。

I'll turn the call to Angus Pacala for closing remarks.

我將把電話轉給安格斯·帕卡拉 (Angus Pacala) 致閉幕詞。

Well, I want to thank all of Ouster's employees for delivering on a record 2023, and thank everyone that joined the call and ask questions today, and I look forward to an incredibly strong 2024.

好吧，我要感謝 Ouster 的所有員工在 2023 年實現了創紀錄的業績，並感謝今天加入電話會議並提出問題的所有人，我期待著一個令人難以置信的強勁 2024 年。

This concludes today's conference call.

今天的電話會議到此結束。

We thank you for joining.

我們感謝您的加入。

You may now disconnect your lines.

現在您可以斷開線路。