Ouster Inc (OUST) 2025 Q2 法說會逐字稿

Hello, and welcome to Ouster’s second-quarter 2025 earnings conference call. (Operator Instructions) 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.

大家好，歡迎參加 Ouster 2025 年第二季財報電話會議。 （操作員指示）今天的電話會議正在錄音，會議結束一小時後，您可以在 Ouster 投資者關係網站上觀看回放。

I would now like to turn the conference over to Chen Geng, Senior Vice President of Strategic Finance and Treasurer. Please go ahead.

現在，我想將會議交給策略財務高級副總裁兼財務主管陳耕。請您發言。

Thank you, operator, and good afternoon, everyone. Thank you for joining our second quarter 2025 earnings call. Today on the call, we have Chief Executive Officer, Angus Pacala; and Chief Financial Officer, Ken Gianella.

謝謝接線員，大家下午好。感謝大家參加我們2025年第二季財報電話會議。今天的電話會議由首席執行官安格斯·帕卡拉 (Angus Pacala) 主持；首席財務官肯·吉安內拉 (Ken Gianella) 主持。

As a reminder, after the market closed today, Ouster issued its financial news release, which was also furnished on a Form 8-K and is posted in the Investor Relations section of the Ouster website. Today's conference call will be available for webcast replay in the Investor Relations section of our website.

提醒一下，今天股市收盤後，Ouster 發布了其財務新聞稿，該新聞稿也以 8-K 表格的形式提交，並發佈在 Ouster 網站的「投資者關係」版塊。今天的電話會議將在我們網站的「投資者關係」版塊提供網路直播回放。

Before I pass the call over to Angus for his opening remarks, I want to remind everyone that on this call, we will make certain forward-looking statements. These include all statements about our competitive position, anticipated industry trends, our business and strategic priorities and our revenue guidance for the third quarter of 2025.

在我將電話轉給安格斯致開場白之前，我想提醒大家，在這次電話會議上，我們將做出一些前瞻性的陳述。這些陳述包括關於我們的競爭地位、預期的行業趨勢、我們的業務和戰略重點以及我們對2025年第三季收入的預期。

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 second quarter 2025 financial results release and in the annual and quarterly reports we file with the Securities and Exchange Commission.

實際結果可能與這些前瞻性陳述所預期的結果有重大差異。可能導致實際結果和趨勢與這些前瞻性陳述所包含或暗示的結果和趨勢存在重大差異的因素已在2025年第二季度財務業績報告以及我們向美國證券交易委員會提交的年度和季度報告中列出。

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, Ouster assumes no obligation to update any forward-looking statements, which speak only as of their respective dates.

我們在本次電話會議上所做的任何前瞻性陳述均基於截至今天的假設，除非法律另有規定，否則 Ouster 不承擔更新任何前瞻性陳述的義務，這些陳述僅代表其各自日期的觀點。

In today's conference 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 that was issued today.

在今天的電話會議中，我們將討論 GAAP 和非 GAAP 財務指標。今天發布的財務業績報告中已包含 GAAP 與非 GAAP 指標的對帳表。

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

現在我想把電話轉給安格斯。

Hello, everyone, and thank you for joining us today. I'll start with a brief recap of the quarter, an overview of the market and an update on our strategic priorities. Ken will cover our financial results in more detail before I close with some final thoughts.

大家好，感謝大家今天加入我們。首先，我將簡要回顧本季度，概述市場狀況，並更新我們的策略重點。肯會更詳細地介紹我們的財務業績，然後我會總結一些感想。

Ouster delivered strong second quarter results with revenue just over $35 million, above the high end of guidance with a solid gross margin of 45%. This performance was driven by record sensor shipments, which surpassed 5,500 units in the quarter, bringing Physical AI to life across logistics, industrial and smart infrastructure sites around the world. We finished the second quarter with a robust balance sheet of $229 million of cash and equivalents and no debt, underscoring our continued financial strength.

Ouster 第二季業績強勁，營收略高於 3,500 萬美元，高於預期上限，毛利率高達 45%。這項業績得益於創紀錄的感測器出貨量，本季出貨量超過 5500 台，為全球物流、工業和智慧基礎設施領域帶來了實體人工智慧 (Physical AI) 的活力。第二季結束時，我們擁有穩健的資產負債表，現金及等價物價值 2.29 億美元，且無負債，凸顯了我們持續的財務實力。

Proven in the field, our lidar solutions are enabling intelligent real-world autonomy across industries and driving tangible improvements in safety, efficiency and sustainability. Our strategic investments in AI algorithms and data training infrastructure are enabling new capabilities to unlock significant commercial opportunities. One of our long-time customers has deployed Ouster Gemini at hundreds of facilities and driven by performance improvements from new Gemini AI algorithms, this customer is now testing new high-value use cases, which require more than quadruple the number of sensors per site.

我們的光達解決方案已在實際應用中得到驗證，正在賦能各行各業實現智慧化、真實世界的自主駕駛，並在安全性、效率和永續性方面帶來切實的提升。我們在人工智慧演算法和資料訓練基礎設施方面的策略性投資，正在賦能新功能，從而釋放巨大的商業機會。我們的一位長期客戶已在數百個設施部署了 Ouster Gemini，在全新 Gemini AI 演算法效能提升的推動下，該客戶目前正在測試新的高價值用例，這需要每個網站的感測器數量增加四倍以上。

Our ability to land and expand deals was a highlight during the quarter as we continue to convert customer pilots into large volume orders as they roll out deployments or move into production.

我們在本季度達成和擴大交易的能力是一大亮點，因為我們在客戶試點部署部署或投入生產時繼續將其轉化為大量訂單。

In smart infrastructure, we successfully converted a pilot program with a Fortune 500 technology company into a multimillion-dollar global deployment. We are installing OSDome sensors in their retail locations worldwide to provide powerful analytics while ensuring personal privacy. With over 500 locations in more than 2 dozen countries, we see tremendous potential for future growth.

在智慧基礎設施領域，我們成功地將與財富500強科技公司的試點計畫轉化為價值數百萬美元的全球部署專案。我們正在其全球各地的零售店安裝OSDome感測器，在提供強大分析能力的同時，確保個人隱私。目前，OSDome已在20多個國家擁有500多家門市，我們看到了巨大的未來成長潛力。

In our industrial vertical, we are partnering with an ag tech company to power autonomous mowing and precision application of crop protection. We have worked with this customer for multiple years, helping them transition from prototypes equipped with Velodyne sensors to larger volumes powered by the OS0. In Asia, we are installing our OS1 sensors on smart cranes to increase throughput at one of the continent's busiest container terminals.

在工業垂直領域，我們正在與一家農業科技公司合作，為自動割草和精準作物保護應用提供支援。我們與這位客戶合作多年，幫助他們從配備 Velodyne 感測器的原型機過渡到由 OS0 驅動的大規模生產。在亞洲，我們正在智慧起重機上安裝 OS1 感測器，以提高亞洲最繁忙的貨櫃碼頭之一的吞吐量。

We also continue to solidify our competitive moat. During the quarter, Ouster's OS1 became the first and only 3D lidar sensor to be approved for Blue UAS and certified by the U.S. Department of Defense for use in unmanned aerial systems. This sets Ouster apart as a trusted solution for government applications and positions us well to benefit from the U.S. government's efforts to strengthen the domestic industrial base for critical technologies and promote trustworthy supply chains.

我們也在持續鞏固競爭優勢。本季度，Ouster 的 OS1 成為首個也是唯一一個獲得 Blue UAS 批准的 3D 雷射雷達感測器，並獲得了美國國防部無人機系統認證。這使得 Ouster 成為值得信賴的政府應用解決方案，並使我們能夠從美國政府加強國內關鍵技術產業基礎和建立值得信賴的供應鏈的努力中獲益。

For example, we recently won a pilot program for the OS1, OSDome and Ouster Gemini to provide perimeter security for a U.S. Army base, and our technology is already deployed in systems used by the United States Navy, NASA and National Labs.

例如，我們最近贏得了 OS1、OSDome 和 Ouster Gemini 的試點項目，為美國陸軍基地提供週邊安全，我們的技術已經部署在美國海軍、美國國家航空暨太空總署和國家實驗室使用的系統中。

Looking ahead, we anticipate continued momentum driven by powerful secular tailwinds. Recent legislation has unlocked billions in federal funding dedicated to accelerating the deployment of autonomous and intelligent systems across defense, transportation and industrial sectors. We are uniquely positioned to capture this demand to enhance critical systems for government, defense and civil infrastructure institutions worldwide. We are seeing similar trends play out in Europe and Indo-Pacific with increased adoption of our technology for U.S. allied defense and infrastructure applications.

展望未來，我們預期強勁的長期順風將持續推動這一成長動能。近期立法已釋放數十億美元的聯邦資金，用於加速國防、交通和工業領域自主智慧系統的部署。我們擁有獨特的優勢，能夠抓住這項需求，並增強全球政府、國防和民用基礎設施機構的關鍵系統。我們看到歐洲和印太地區也呈現類似的趨勢，我們的技術正越來越多地應用於美國盟友的國防和基礎設施領域。

Turning to our 2025 strategic priorities. We progressed across all 3 key focus areas: scaling software-attached business, transforming the product portfolio and executing towards profitability. Starting with software-attached business. In 2026, the world's most watched sporting event is coming to the United States, the FIFA World Cup. We won an award to deploy Ouster Rev7 and BlueCity across dozens of sites at a World Cup host city to bring real-time on-demand traffic data to reduce congestion and improve safety for visiting fans.

談到我們2025年的戰略重點。我們在三個關鍵重點領域都取得了進展：擴大軟體相關業務規模、轉型產品組合以及實現盈利。首先是軟體相關業務。 2026年，全球最受矚目的體育賽事－國際足總世界盃將在美國舉行。我們贏得了一項合同，將在世界盃主辦城市的數十個站點部署Ouster Rev7和BlueCity，以提供即時按需交通數據，從而減少交通擁堵，並提高客場球迷的安全。

We also recently expanded an agreement to meet demand from the Utah Department of Transportation to bring Ouster BlueCity to nearly 100 intersections across the state to enhance traffic flow, safety and operational efficiencies. A key focus this quarter was to expand our distribution channels, and we made significant progress for both our smart infrastructure and security solutions. We signed 3 exclusive partnerships to bring BlueCity to major markets such as Texas, Michigan, New York and Pennsylvania. With these key additions, our BlueCity partnership network now spans 39 states and gives us a direct line of sight to capture the vast nationwide market of over 300,000 signalized intersections.

我們最近也擴展了一項協議，以滿足猶他州交通部的需求，將Ouster BlueCity系統推廣到全州近100個交叉路口，以提升交通流量、安全性和營運效率。本季的重點是拓展我們的分銷管道，我們在智慧基礎設施和安全解決方案方面都取得了重大進展。我們簽署了三項獨家合作協議，將BlueCity系統推廣到德州、密西根州、紐約州和賓州等主要市場。隨著這些重要合作的簽署，我們的BlueCity合作夥伴網路現已覆蓋39個州，使我們能夠直接覆蓋全國超過30萬個訊號交叉路口的龐大市場。

For Ouster Gemini, we formalized a partnership with one of the world's largest security integrators. This agreement will support deployments into some of the world's most critical and high-value security sites where the global market for end system security cameras is already in the tens of billions.

對於Ouster Gemini，我們與全球最大的安全整合商之一正式建立了合作夥伴關係。該協議將支援其在全球一些最關鍵、最有價值的安全場所的部署，這些場所的終端系統安全攝影機全球市場規模已達數百億美元。

Moving to product development. Ouster Gemini and BlueCity are delivering AI solutions to solve our customers' most complex challenges through powerful new software features and major performance improvements. We implemented advanced actuation for Ouster BlueCity that enables filtering for additional subclasses and objects, allowing our customers to control their traffic systems with additional rule-based nuances. We also added 3D event recording, which allows customers to automatically record and review safety incidents without disclosing personally identifiable information. These features leverage BlueCity's proprietary deep neural network that has been trained on more than 4 million labeled objects collected from 800 sites and runs on NVIDIA Jetson and Orin system-on modules for real-time inference at the edge.

轉向產品開發。 Ouster Gemini 和 BlueCity 正在透過強大的新軟體功能和重大效能改進，提供 AI 解決方案來解決客戶最複雜的挑戰。我們為 Ouster BlueCity 部署了先進的驅動系統，可以過濾更多子類和對象，使我們的客戶能夠基於規則的更多細微差別來控制其交通系統。我們還添加了 3D 事件記錄功能，使客戶能夠自動記錄和審查安全事件，而無需洩露個人識別資訊。這些功能利用了 BlueCity 專有的深度神經網絡，該網絡已基於從 800 個站點收集的超過 400 萬個標記對象進行訓練，並在 NVIDIA Jetson 和 Orin 系統級模組上運行，可在邊緣進行實時推理。

Turning to our Gemini platform. We made significant improvements in core perception and ease of deployment. One of the most complex challenges in perception is maintaining stable object tracking over long periods of time. To solve this, Ouster Gemini now features a breakthrough multisensor AI model that fuses point clouds together in the early stages of the perception pipeline for improved accuracy. Ouster Gemini now delivers significantly improved long-term object identity persistence, a critical requirement for many customer applications.

談到我們的 Gemini 平台。我們在核心感知和易部署性方面取得了顯著改進。感知領域最複雜的挑戰之一是長時間保持穩定的物體追蹤。為了解決這個問題，Ouster Gemini 現在採用了突破性的多感測器 AI 模型，該模型在感知流程的早期階段將點雲融合在一起，以提高準確性。 Ouster Gemini 現在顯著提高了長期物體身份持久性，這是許多客戶應用的關鍵要求。

We also launched the Gemini Event Server to accelerate customer adoption and reduce deployment time and cost. This is a powerful no-code environment with built-in logic modules, enabling our customers to easily build and deploy their own automated solutions for applications like intrusion detection, proximity monitoring and zone occupancy tailored to their business needs.

我們還推出了 Gemini Event Server，以加速客戶採用並減少部署時間和成本。這是一個功能強大的無程式碼環境，內建邏輯模組，使我們的客戶能夠根據其業務需求，輕鬆建置和部署針對入侵偵測、近距離監控和區域佔用等應用的自動化解決方案。

During the quarter, we progressed on engineering bring up of our next-generation L4 and Chronos custom silicon. These investments will unlock a new era for our products, including major performance, security and reliability gains for the OS product family and the introduction of the solid-state digital flash or DF line. Early customer feedback reinforces our belief that these innovations will more than double our current addressable market and represent the most significant product cycle in Ouster's history.

本季度，我們在下一代 L4 和 Chronos 客製化晶片的工程設計方面取得了進展。這些投入將開啟我們產品的新紀元，包括 OS 產品系列在效能、安全性和可靠性方面的顯著提升，以及固態數位快閃記憶體（DF）系列的推出。早期客戶的回饋進一步增強了我們的信念：這些創新將使我們目前的潛在市場規模擴大一倍以上，並代表 Ouster 歷史上最重要的產品週期。

Finally, our excellent second quarter results keep us on path to meet our long-term framework of 30% to 50% annual revenue growth, maintaining gross margin of 35% to 40% and operating expenses at or below third quarter 2023 levels.

最後，我們出色的第二季業績使我們預計將實現 30% 至 50% 的年收入成長、35% 至 40% 的毛利率以及 2023 年第三季或以下的營運費用的長期框架。

Before turning to our financial results, I'm delighted to welcome Ken Gianella as our new Chief Financial Officer. Ken brings a wealth of experience and a proven track record of financial leadership to Ouster and is already instrumental in driving our financial strategy and supporting our growth initiatives.

在介紹我們的財務表現之前，我很高興歡迎 Ken Gianella 擔任我們的新財務長。 Ken 為 Ouster 帶來了豐富的經驗和卓越的財務領導能力，並且在推動我們的財務策略和支持我們的成長計劃方面發揮了重要作用。

Ken, welcome, and please go ahead.

肯，歡迎您，請繼續。

Thank you, Angus, and good afternoon, everyone. I'm thrilled to join Ouster at an exciting moment in the company's journey, and I look forward to working with Angus and the team towards Ouster's continued success.

謝謝安格斯，大家下午好。我很高興能在公司發展歷程中這個令人興奮的時刻加入Ouster，並期待與安格斯和團隊攜手合作，共同推動Ouster的持續成功。

Turning to Slide 9 in the presentation. I will now give an overview of our second quarter 2025 results. First, we shipped a record 5,500 sensors in Q2 and generated just over $35 million in revenue. These results are right at the high end of our guidance range. Revenue growth was 30% year-over-year and 7% sequentially.

翻到簡報的第9張投影片。現在我將概述我們2025年第二季的業績。首先，我們在第二季創紀錄地出貨了5,500個感測器，創造了略高於3,500萬美元的收入。這些業績正處於我們預期範圍的高端。營收年增30%，季增7%。

Adjusting for the impact of patent royalty in the first quarter, sequential revenue growth was 13%.

調整第一季專利使用費的影響後，連續營收成長 13%。

The industrial vertical was the largest contributor to second quarter revenue, followed by automotive. We shipped large volume deals to support applications in warehouse autonomy, robotaxi, yard logistics and defense.

工業垂直行業是第二季度收入的最大貢獻者，其次是汽車行業。我們出貨量龐大，以支援倉庫自動化、自動駕駛計程車、場地物流和國防領域的應用。

GAAP gross margin in the second quarter increased by 11 points year-over-year to 45%. Gross margin strength reflects the benefit of higher revenue, product mix and favorable employment tax refund. The refund had a positive impact of approximately 5 points on GAAP gross margin. While we are pleased with our operational execution this quarter, we continue to view 35% to 40% as an appropriate annual gross margin target for the business.

第二季 GAAP 毛利率年增 11 個百分點，達到 45%。強勁的毛利率反映了更高的收入、更優的產品組合以及優惠的就業稅退稅政策帶來的效益。退稅政策對 GAAP 毛利率產生了約 5 個百分點的正面影響。儘管我們對本季的營運執行情況感到滿意，但我們仍然認為 35% 至 40% 是公司合適的年度毛利率目標。

Next, GAAP operating expenses were $43 million in the second quarter, up 24% over the prior year. The increase was primarily driven by higher stock-based compensation and litigation expenses. We remain vigilant on managing our operating expenses as we execute the business. While we do anticipate expenses fluctuating on a quarterly basis, these are largely driven by investment in our innovation, our go-to-market execution and other onetime investment in costs. Ouster is committed to our growth strategy and maintaining a disciplined path towards profitability.

其次，第二季的 GAAP 營運費用為 4,300 萬美元，較上年增長 24%。成長主要源自於股票薪酬和訴訟費用的增加。在開展業務的過程中，我們始終密切注意營運費用的管理。雖然我們預期費用會按季度波動，但這些波動主要源自於對創新、市場推廣執行以及其他一次性成本的投資。 Ouster 致力於推進成長策略，並維持穩健的獲利路徑。

Next, turning to our balance sheet. Cash, cash equivalents, restricted cash and short-term investments were $229 million at June 30, which includes approximately $59 million of net proceeds from our ATM. While we retain access to capital markets, we are comfortable with our current cash position within the context of our execution of our business plan.

接下來，我們來看看我們的資產負債表。截至6月30日，現金、現金等價物、限制性現金及短期投資總額為2.29億美元，其中包括來自ATM機的約5,900萬美元淨收益。雖然我們仍保留著資本市場的融資管道，但在執行業務計畫的框架內，我們對目前的現金狀況感到滿意。

Finally, we continue to actively manage the challenges of the current geopolitical and macroeconomic environment, specifically around our supply chain and tariffs. The landscape remains fluid, but we are fortunate to have close relationships with our customers and our partners as we navigate the potential impacts.

最後，我們將繼續積極應對當前地緣政治和宏觀經濟環境帶來的挑戰，尤其是在供應鏈和關稅方面。情況依然瞬息萬變，但我們很幸運，在應對潛在影響的過程中，我們與客戶和合作夥伴保持著密切的聯繫。

As I stated earlier, we continue to view 35% to 40%, including the impact of any tariffs we may have as an appropriate annual gross margin target for the business. We will continue to work diligently to manage the situation as we assess potential near- and long-term impacts on our operations and our margins.

正如我之前所述，我們仍然認為35%至40%（包括任何可能產生的關稅影響）是公司年度毛利率的合理目標。我們將繼續努力管理當前情勢，同時評估其對公司營運和利潤率的潛在短期和長期影響。

Moving to guidance on Slide 10. For the third quarter, we expect to achieve revenue between $35 million and $38 million.

轉到投影片 10 上的指示。對於第三季度，我們預計實現營收在 3,500 萬美元至 3,800 萬美元之間。

Before I hand the call back to Angus, I just want to reiterate how excited I am about the opportunity for Ouster and how pleased I am to be able to contribute to the company's success. I look forward to getting out this quarter and meeting our stakeholders.

在把電話轉回給安格斯之前，我想重申一下，我對Ouster的這個機會感到多麼興奮，也非常高興能夠為公司的成功做出貢獻。我期待著本季的離開，與我們的利害關係人見面。

Thank you for your time, and I'll now turn the call back to Angus for his closing remarks.

感謝您抽出時間，現在我將把電話轉回給安格斯，請他作最後發言。

Thanks, Ken. I'm proud of our team for delivering a record quarter as Ouster continues to drive the accelerating adoption of Physical AI. We have now delivered 10 straight quarters of revenue growth and meeting or beating our guidance. This is particularly fitting as we recently celebrated Ouster's 10-year anniversary. We have transformed from a lidar manufacturer to a Physical AI company, adding software solutions to our industry-leading hardware portfolio to enable intelligent real-world autonomy across industries.

謝謝，Ken。在 Ouster 持續推動實體人工智慧加速普及之際，我們的團隊取得了創紀錄的季度業績，對此我深感自豪。我們已連續 10 個季度實現營收成長，並達到或超越了預期目標。這尤其契合我們最近慶祝 Ouster 成立 10 週年的契機。我們已經從雷射雷達製造商轉型為實體人工智慧公司，並在我們行業領先的硬體產品組合中添加了軟體解決方案，以實現跨行業智慧現實世界的自主性。

I am proud of our performance and achievements to date, but our most exciting chapter is just beginning. Our technology road map will bring the largest transformation to Ouster's product portfolio in our history, taking us into larger markets and more use cases than we've ever had. We are at the forefront of a monumental market transformation driven by lidar. And as our customers scale from prototype testing to commercial production, we are well positioned for continued growth. Our story is just getting started, and we have the team, customers and strategy to be a leader in Physical AI.

我為我們迄今為止的業績和成就感到自豪，但我們最令人興奮的篇章才剛開始。我們的技術路線圖將為Ouster的產品組合帶來史上最大的變革，帶領我們進入前所未有的更大市場和更多用例。我們正處於由光達驅動的重大市場轉型的前沿。隨著我們的客戶從原型測試擴展到商業化生產，我們已為持續成長做好了準備。我們的故事才剛開始，我們擁有成為實體人工智慧領導者的團隊、客戶和策略。

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

現在，我想開始問答環節。

(Operator Instructions) Colin Rusch, Oppenheimer.

（操作員指示）科林·拉什，奧本海默。

Thanks so much. And guys, congratulations on all the progress. As you get into the latter part of the year and start getting ready to ship commercial volumes of the L4 chip, can you talk about that...

非常感謝。各位，祝賀你們取得的所有進展。隨著你們進入下半年並開始準備批量出貨L4晶片，你們能談談這一點嗎…

Apologies sound cut out on the question.

這個問題聽起來像是道歉被打斷了。

Okay, sorry for the trouble, guys. Just want to get a sense of how quickly as you move the start ramping the L4 platform that you're going to be able to start moving customers onto that platform and really transition to the lower cost modules.

好的，很抱歉打擾了各位。我只是想了解一下，隨著你們開始推進L4平台，你們能夠多快地將客戶轉移到該平台上，並真正過渡到低成本模組。

Yeah, absolutely. So I mean.

是的，絕對是如此。我的意思是。

So the good thing is, Colin, that we've been through this before many times, the L4 is the 4th generation of our silicon, and there's a huge opportunity behind it and we want to make sure that it's both the future for new opportunities and doubling the TAM of the company with its release, but also that it's we provide a smooth transition like you said for existing customers to move into greater scale, more applications, kind of land and expand opportunities with existing customers. Historically, we have many customers, probably, well. Roughly half our customer base that takes a year to transition from one iteration to the next, and we're generally complete with a product transition, let's say from rev 6 to rev 7 being the most recent in about 2 years.

所以，Colin，好消息是，我們之前已經多次經歷過這種情況。 L4 是我們第四代矽片，它背後蘊藏著巨大的機會。我們希望確保它不僅能為未來帶來新的機遇，還能隨著它的發布使公司的 TAM 翻一番，而且我們也像您所說的那樣，為現有客戶提供平穩的過渡，使他們能夠向更大規模、更多應用、更多領域發展，並擴大現有客戶的機會。從歷史上看，我們有很多客戶，大概，嗯。我們大約一半的客戶群需要一年的時間才能從一個迭代過渡到下一個迭代，我們通常完成產品過渡，比如說從 rev 6 到 rev 7，這是大約兩年內最新的一次。

It's going to be a little different though with rev 7 to rev 8 we've been And we've provided more heads up for our customer base and more long term commitments around how we manufacture this technology. We have many more customers in production with rev 7 than we've ever had with rev 6 to rev 7. And so, we're making sure that we're working with every single customer to not leave anyone behind on a previous generation platform. And and that work started long before, we ever talked about a future product release, so. I think we're going to make this a graceful transition for everyone while we're also just expanding the overall opportunity for addressable markets with the L4 chips.

不過，從 rev 7 到 rev 8 會有所不同。我們一直在為客戶群提供更多關注，並就如何製造這項技術做出更多長期承諾。與 rev 6 到 rev 7 相比，我們生產 rev 7 的客戶數量要多得多。因此，我們要確保與每位客戶合作，不讓任何人落後於上一代平台。這項工作早在我們討論未來產品發布之前就開始了。我認為我們將為每個人提供平穩的過渡，同時我們也在透過 L4 晶片擴大潛在市場的整體機會。

That that's super helpful. And then, you've talked about, upwards of 1,000 customers and, call 10% that are looking at production volumes and then really a limited number that are in production. Can you talk about some of the prototypes that are out there and how quickly some of these, machinery or off-road vehicles or some of the other products might end up moving into, volume production because it seems like, a limited number of customers could start really leveraging some of their revenue and growth here pretty meaningfully for you guys.

這非常有幫助。您之前提到，超過1000家客戶，其中10%正在考慮量產，只有少數客戶已經投入生產。您能否談談目前已經推出的一些原型產品，以及其中一些機械、越野車或其他產品最終可能以多快的速度進入量產階段？因為看起來，只有少數客戶能夠真正利用這些產品來提升收入和成長，這對你們來說意義重大。

Yeah.

是的。

It doesn't take this is a great question because What we said is ousters at the very early innings of physical AI automation propagating into every moving machine on Earth and so at the scale that we're operating, 4 to 5,000 units plus a quarter, it doesn't take many customers each quarter to significantly expand our volumes and our shipments. And so, we had almost 1,000 unit delta between Q1 and Q2 shipments and 1,000 units of an automated industrial platform is a is a is a big expansion for a single customer. So. And that's all to say we don't need 100 different customers to reach production to keep growing at the pace we're growing. We need a single digits to continue on this really solid 10 quarters in a row of revenue expansion and keeping that going for the next couple of years. Obviously we want to move as many customers as quickly into production as possible and once in production also scales significantly from quarter to quarter, but. Yeah, there's a lot the vast majority of our customer base and our on our customers that will move into production have not yet, and that's just going to fuel our growth to come.

這是一個很好的問題，因為我們所說的是在物理AI自動化傳播到地球上每一台移動機器的早期階段，所以以我們運營的規模，每季度4000到5000台，不需要每個季度增加很多客戶就能顯著擴大我們的產量和出貨量。因此，我們在第一季和第二季的出貨量之間有近1000台的增量，而1000台自動化工業平台對於單一客戶來說就是一個巨大的擴張。所以，這就是說，我們不需要100個不同的客戶來實現生產，就能維持我們現在的成長速度。我們需要個位數的成長來維持連續10個季度的穩健收入成長，並在未來幾年保持這種成長勢頭。顯然，我們希望盡快讓盡可能多的客戶投入生產，一旦投入生產，每個季度的規模也會顯著擴大，但是。是的，我們絕大多數的客戶群和即將投入生產的客戶都還沒有開始生產，而這將推動我們未來的成長。

Thank you so much guys.

非常感謝你們。

Andres Sheppard, Cantor Fitzgerald.

安德烈斯‧謝潑德 (Andres Sheppard)、康托‧費茲傑拉 (Cantor Fitzgerald)。

Hey guys, congrats on the quarter and thanks for taking our question. This is a not on for Andres. It looks like you've really cemented market leadership with this quarter, especially with the blue UAS certification, and that seems to be a huge part of the story this quarter, so. I was wondering perhaps what opportunities you're looking at there and how that could really translate for the company. I know you touched that touched on that on the earnings goal and maybe potentially where could this go besides the first thing that comes to mind, the drones.

大家好，恭喜本季業績，感謝您回答我們的問題。安德烈斯沒有回答這個問題。看起來你們在本季確實鞏固了市場領導地位，尤其是在藍色無人機系統認證方面，這似乎是本季業績的重要組成部分。我想知道你們正在尋找哪些機會，以及這些機會將如何真正轉化為公司。我知道您提到了獲利目標，除了我首先想到的無人機之外，您還可能在哪些方面取得進展。

Yeah, this is a great question.

是的，這是一個很好的問題。

Thank you, Anand. The blue UAS milestone for the OS1 was a big deal for us. We are the first 3D LIDAR sensor that got this certification, and that means that now we can be deployed on DOD aerial platforms as a sensor payload. So it's a big deal. We're the first company and I think that's a trend for Ouster is we are a first mover in many different markets because we have the products and we have the strategy and we have the commercial team to get all of that done ahead of our of our competitors, so. Blue UAF is part of a bigger expansion and kind of defense focus for the United States, for our Western allies. I mentioned on the script, there's a lot of good progress here behind the scenes. We're already working with the United States Navy, for instance. We are deployed now at a US military base, an army base for perimeter security with not just our LiDARs but with our full Gemini physical AI solution. So there's a lot going on in the background.

謝謝你，Anand。 OS1 的藍色無人機系統里程碑對我們來說意義重大。我們是第一個獲得此項認證的 3D 光達感測器，這意味著我們現在可以作為感測器有效載荷部署在國防部的空中平台上。所以這意義重大。我們是第一家獲得此項認證的公司，我認為這對 Ouster 來說是一個趨勢，因為我們在許多不同的市場中都是先行者，因為我們擁有產品、策略和商業團隊，能夠領先於競爭對手完成所有這些工作。藍色無人機系統是美國及其西方盟友更大規模擴張和國防重點的一部分。我在方案中提到過，幕後有很多良好進展。例如，我們已經在與美國海軍合作。我們現在已經部署在一個美國軍事基地，一個用於週邊安全的陸軍基地，不僅使用我們的雷射雷達，還使用我們完整的 Gemini 實體 AI 解決方案。所以，幕後有很多事情正在進行。

It's ultimately fueled by an investment from the US government and from Western allies, and I think that's playing into our favor, and I don't think there's any company better positioned to serve that demand than ouster right now.

它最終是由美國政府和西方盟友的投資推動的，我認為這對我們有利，而且我認為現在沒有任何公司比 ouster 更適合滿足這種需求。

Fantastic. That's very helpful. And I guess switching to another vertical, I was wondering, since autonomous vehicles are coming into play more nowadays and they're getting more popular here in the states, how you're seeing that opportunity play out for you guys and if there's potentially anything that you're pursuing in that vertical or with an OEM.

太棒了！這很有幫助。我想換個垂直領域，我想知道，鑑於自動駕駛汽車如今越來越流行，在美國也越來越受歡迎，您如何看待這個機會，以及您是否有潛力在這個垂直領域或與OEM合作？

Yeah, so it's good to see that there's been an upsurge in an uptick in interest on autonomous vehicles. I think that's fueled by Waymo’s proof points in the market, showing that the technology is reaching a level of maturity where it becomes a business and not an R&D effort. And I think that's good for Ouster and the lighter sector at large.

是的，很高興看到人們對自動駕駛汽車的興趣激增。我認為這得益於 Waymo 在市場上的證明，表明這項技術已達到一定成熟度，可以成為一項業務，而不是一項研發工作。我認為這對 Ouster 以及整個輕量化產業來說都是好消息。

For a long time, Ouster has, our strategy has been to be at the right place at the right time for this industry to emerge as viable, and I think that's starting to happen. So we have great products for these autonomous vehicle and automotive customers actually this last quarter in Q2. Automotive of their 2nd largest vertical, so we're a big player in this space. We've had great positive announcements from longtime customers like May Mobility, making big announcements with end customers like the rideshare companies. So it's not just that the technology is ready, but there's an ecosystem of players that are interested enough to make, major commercial and business strategy shifts. And again, Aster is really well positioned with products to play in this space, so I'm glad this is happening finally.

長期以來，Ouster 的策略一直是在正確的時間出現在正確的地點，讓這個行業蓬勃發展，而我認為這正在開始發生。因此，我們為這些自動駕駛汽車和汽車客戶提供了優質的產品，實際上，就在上個季度，也就是第二季度。汽車是他們第二大垂直領域，因此我們在這個領域佔有重要地位。我們從 May Mobility 等長期客戶那裡獲得了積極的消息，並與共乘公司等終端客戶發布了重要公告。因此，這不僅僅是技術已經準備就緒，而且還有一個由足夠感興趣的參與者組成的生態系統，可以進行重大的商業和業務策略轉變。 Aster 的產品在這個領域佔有非常有利的地位，所以我很高興這一切終於發生了。

Excellent, thanks for the call, Angus. I'll pass it on.

太好了，謝謝你的來電，安格斯。我會轉達的。

(Operator Instructions) Kevin Garrigan, Rosenblatt Securities.

（操作員指示） Kevin Garrigan，Rosenblatt Securities。

Yeah, hey, Angus, hey, Ken, thanks for taking my questions and congrats on the strong results. Hey, Angus, you spoke about several design wins, using the FIFA World Cup as an example. Can you give us a sense of who you kind of beat out with that contract? Was it more camera-based solutions or other liar suppliers and, with AI everywhere now is the competition.

是的，嘿，安格斯，嘿，肯，謝謝你們回答我的問題，祝賀你們取得瞭如此好的成績。嘿，安格斯，你提到了幾個設計項目的成功，並以FIFA世界盃為例。你能告訴我們，你們在那份合約中擊敗了誰嗎？是更多的是基於攝影機的解決方案，還是其他的騙子供應商？現在人工智慧無所不在，競爭就是競爭。

Getting any more competitive.

變得更具競爭力。

Yeah, so that's, it's interesting because.

是的，這很有趣，因為。

So with the case of FIFA, there's typically some sort of competitive situation on all of these projects. And what Aster has shown in the last year or so with Blue City as it's reached a level of maturity we haven't really seen before. I head to head on the core performance metrics of things like object perception accuracy, like are you counting the right number of cars, pedestrians, motorcyclists, and trucks at your intersections, your traffic corridors. There's nothing that comes close to Blue City and its accuracy, and it's for one very good reason, and this gets to your next question about AI. All of the advancements that you hear about in AI for cameras can apply to LiDAR if you take proper advantage of them. And so we actually put out a press release on this on this subject just the last quarter around Auster's massive investment in AI data training.

就FIFA而言，所有這些項目通常都存在某種競爭態勢。 Aster在過去一年左右的時間裡透過Blue City展示了其發展，達到了我們從未見過的成熟度。我曾就物體感知精度等核心性能指標展開激烈討論，例如你是否正確統計了路口和交通走廊上汽車、行人、摩托車和卡車的數量。沒有任何專案能夠與Blue City的精確度相媲美，這有充分的理由，這也引出了你關於AI的下一個問題。你所聽到的攝影機AI的所有進步，只要你能合理利用，都可以應用於LiDAR。因此，就在上個季度，我們發布了一篇關於Aster在AI資料訓練方面進行大規模投資的新聞稿。

Data collection, annotation and training for our Blue City product, this product that's being deployed at the FIFA sites around the country and now being deployed at large in the Utah DOT and Chattanooga and all these other intersections. So Ouster is leading the way on investing in true physical AI at the edge, running deep neural networks that we've trained on.

我們為 Blue City 產品進行資料收集、註釋和訓練。該產品已在全國各地的國際足總站點部署，現在也正在猶他州交通部、查塔努加市以及其他所有交通樞紐地區大規模部署。因此，Ouster 在投資真正的邊緣實體 AI 方面處於領先地位，運行我們訓練過的深度神經網路。

Over 4 million annotated objects that we've pulled and extracted from a diverse geographic set of our deployed systems, and we're doing this constantly, so we're constantly improving our AI algorithms to make sure that we maintain this kind of best in class performance of perception accuracy, which is the foundation of all of these products that are doing traffic control and analytics in the field. So.

我們從部署系統的各個地理區域中提取了超過 400 萬個註釋的對象，並且我們一直在這樣做，因此我們不斷改進我們的人工智慧演算法，以確保我們保持這種一流的感知精度性能，這是所有這些在現場進行交通管制和分析的產品的基礎。

Yes, so your answer, your insight that AI is improving everyone's capabilities, whether it's cameras or radar systems or LiDAR is correct, but we're making sure that we're not left behind. We're actually leading the way with a lot of these investments and we're applying it to a far more capable sensor data stream with a LIDAR than a camera.

是的，所以你的答案，也就是你關於人工智慧正在提升每個人的能力（無論是攝影機、雷達系統還是雷射雷達）的洞見是正確的，但我們正在確保自己不會落後。事實上，我們在這方面投入了大量資金，並正在將其應用於比攝影機更強大的感測器資料流——雷射雷達。

Got it. Okay, that makes sense. And then as a follow up, can you just talk a little bit more about your dis your distributor strategy? Are you looking to eventually have, maybe a majority portion of your sales to the distribution channel, or is your main focus still on dealing with the direct and customer?

明白了。好的，說得通。接下來，您能否再談談您的經銷商策略？您是否希望最終將大部分銷售額分配給分銷管道，還是主要重點仍放在與直銷商和客戶打交道上？

Yeah, here this, the distribution strategy varies by vertical and even by subvertical. So we have our 44 major verticals automotive, industrial, smart infrastructure, and robotics. And what I talked about on the call is really a focus on the subvertical within smart infrastructure.

是的，我們的分銷策略因垂直行業甚至子垂直行業而異。我們涵蓋44個主要垂直產業，包括汽車、工業、智慧基礎設施和機器人。我在電話會議上談到的，其實是對智慧基礎設施內子垂直產業的關注。

In traffic and that's the blue the blue city product. So there we think it's an integrator distributor heavy play.

在交通方面，這就是藍色城市產品。因此，我們認為這是一個整合商分銷商的重頭戲。

And we've already, we embarked on a new strategy there a couple of years ago and we now have 39 states where we have a selected exclusive distributor integrator for Blue City. So we're well on our way to fully blanketing the United States in these regional distributors, and they're really value add integrators of traffic technology with long term established relationships with, state, local, and federal clients.

幾年前，我們就已經開始實施新的策略，目前我們已經在39個州為Blue City選定了獨家分銷整合商。因此，我們正穩步推動透過這些區域分銷商全面覆蓋美國市場的步伐。這些分銷商是真正為交通技術提供增值的整合商，與州、地方和聯邦客戶建立了長期的合作關係。

Security, also a Gemini solutions product for us. So the security industry mirrors in many ways the traffic vertical, and that there's a major set of technology integrators and established like distribution chains. So we're taking advantage of that as well, so it probably will skew again towards leveraging those partners versus a direct sales force. But outside of those two verticals or sub verticals right now, Auster has succeeded in identifying enterprise partners, having a direct sales force, and just being a great direct partner given how critical typically LiDAR is to a customer like Komatsu or, a major industrial OEM or automaker. They want a direct relationship and a direct kind of sales and commercial and support and technical support. A relationship with Austra directly.

安全，對我們來說也是雙子解決方案的產品。安全產業在許多方面與交通垂直產業相似，並且擁有大量的技術整合商和成熟的分銷鏈。我們也在利用這一點，所以它可能會再次傾向於利用合作夥伴而不是直銷團隊。但目前除了這兩個垂直行業或子垂直行業之外，Auster 已經成功找到了企業合作夥伴，擁有直銷團隊，並且由於 LiDAR 對小松、大型工業 OEM 或汽車製造商等客戶至關重要，因此成為了優秀的直接合作夥伴。他們希望建立直接的合作關係，並獲得直接的銷售、商業、支援和技術支援。與 Austra 建立直接關係。

Okay, great. I appreciate all the color. Congrats on all the progress.

好的，太棒了。我很欣賞你所有的顏色。祝賀你的進展。

Richard Shannon, Craig-Hallum Capital Group.

克雷格-哈勒姆資本集團的理查德·香農。

Well, thanks guys for let me ask a couple questions here. My first one is on the defense market here. If I caught the language right here, you mentioned defense is one of the key verticals or top verticals here, and I did a did a quick search and I didn't find any mention of that in past conference calls about that being a leading contributor. Was the Blue AS certification a driver of that or drones, or can you kind of help us tie those things or not tie them together?

好吧，謝謝大家，讓我在這裡問幾個問題。我的第一個問題是關於國防市場的。如果我沒聽錯的話，您提到國防是這裡的關鍵垂直領域之一，或者說是頂級垂直領域之一。我快速搜尋了一下，在過去的電話會議中沒有找到任何關於國防是主要貢獻者的提及。 Blue AS 認證是國防市場還是無人機市場的驅動因素？或者您能幫我們把這些因素連結起來嗎？

Yeah, so Richard, I think what we said is we didn't say that that defense wasn't one of the TOP2 verticals for us this quarter, but it was actually industrials and automotive that were the top two this last quarter. We haven't specifically talked you know that much about defense in prior earnings calls as well, so you're picking up on that, but this is kind of some new, this is a new development for us. And like I said before, it's kind of a combination of both. The federal and international interest in defense and new investments there in combination with advancements on our commercial side and our getting things like the UAS certification. So the, I think that this is an opportunity for the future more than it had a an outsized impact on our earnings this this Q2.

是的，理查德，我想我們之前說過，國防業務並非我們本季最重要的垂直領域之一，而是上個季度排名前兩位的是工業和汽車行業。在先前的財報電話會議上，我們也沒有特別談及國防業務，所以你也注意到了這一點。但這對我們來說是一個新的發展方向。就像我之前說的，這兩者兼具。聯邦政府和國際社會對國防業務的興趣以及新的投資，加上我們在商業領域的進步以及我們獲得的無人機系統（UAS）認證等。所以，我認為這與其說是對第二季業績的巨大影響，不如說是未來的機會。

Okay, fair enough, thanks for clearing that one up. Second question, Angus, is really as we ramp up the new products with the L4, and chronos ships, I assume they're going to the same set of next products here. Can you talk about your pricing strategy here? I guess I would assume given your, you talk about your gross margin profile as being very long term, but I would assume it stretched beyond this product introduction here you're probably going to. Take down pricing, kind of commensurate with cost, but maybe you could just talk about your pricing strategy as that new product line comes up.

好的，很公平，謝謝你澄清了這個問題。第二個問題，Angus，隨著我們推出L4和Chronos等新產品，我猜想它們也會採用相同的後續產品。可以談談你的定價策略嗎？考慮到你提到的毛利率狀況，我認為這是一個長期的趨勢，但我認為它的範圍會超出這次的產品發布。降價，根據成本來調整，或許你可以談談新產品線推出時的定價策略。

Sure, yeah, so the pricing strategy is because Aster is diversified, it's hard to, there are many different strategies and it's a case by case by industry and subindustry. So we have a lot, I think we have a lot of flexibility here and what I'm looking at in pricing strategy is one that we are maintaining strong gross margins and there, I think that we we're committed to the 35% to 40% gross margins as we approach profitability in the next couple of years. And so that's very important and we're doing that by expanding our volumes and lowering our costs over time, and that gives us some ability to drop pricing where needed to enable customer business models. So this is an important dynamic that when we drop price many times it's because we have assessed the customer business model and identified that there needs to be a lower cost for them to enter the market into production.

當然，定價策略是Aster多元化的，很難，有很多不同的策略，而且要根據行業和子行業的具體情況而定。所以我們有很多，我認為我們在這方面有很大的靈活性，我在定價策略中關注的是我們保持強勁的毛利率，我認為我們致力於在未來幾年實現盈利的過程中將毛利率保持在35%到40%之間。這一點非常重要，我們正在透過擴大產量和降低成本來實現這一點，這使我們能夠在必要時降低價格，以支援客戶的商業模式。這是一個重要的動態，當我們多次降價時，是因為我們評估了客戶的商業模式，並確定他們需要以更低的成本進入市場進行生產。

And so it's a very measured, there's a lot of control on the answer side and how that happens and a lot of working with a customer. This is not a commoditized market where we have to drop price just to just to stay in competitive situations. It's much more a dynamic where we're working with customers to give them a path to good commercial viability in the long term as they're going from R&D into production.

所以這是一個非常謹慎的過程，我們對解決方案的執行方式和流程都進行了大量控制，並且需要與客戶進行大量的合作。這不是一個商品化的市場，我們不必為了保持競爭力而降價。這更像是一種動態的合作，我們與客戶合作，為他們提供一條從研發到生產的長期商業可行性途徑。

That being said, there's always lower priced applications for any technology, and so there is also just a core focus internally on dropping our costs so that we can enter some fundamentally new markets with lower pricing and just lower pricing overall. So things like some of the emerging robotics opportunities that could have really high volumes but may need a fundamentally different price point.

話雖如此，任何技術總有更低價格的應用，因此我們內部的核心重點也是降低成本，以便我們能夠以更低的價格，甚至更低的價格進入一些全新的市場。例如，一些新興的機器人技術機會，雖然產量可能非常大，但可能需要一個完全不同的價格點。

Okay, that's all full perspective, I guess, that's all for me. Thanks.

好的，我想，我的視角就到這裡了。謝謝。

Tim Savageaux, Northland Capital Markets.

北國資本市場 (Northland Capital Markets) 的 Tim Savageaux 說道。

Hey, good afternoon and congrats on the results. My first question, kind of going back to the defense opportunity and understanding this is something that's emerging for you guys, but Is there anything you can share with us about total addressable market in that kind of drone defense area, as it relates to your targeted cams across, other verticals, and I'll follow up from there.

嘿，下午好，恭喜你所取得的成果。我的第一個問題，有點回到國防領域，我知道這對你們來說是一個新興的領域。你能不能跟我們分享一下這種無人機防禦領域的整體潛在市場，以及它與你們的目標攝影機以及其他垂直領域相關的資訊？我會繼續跟進。

Yeah, thanks for the question. The traditionally we have included our defense market in our, it's absorbed into our robotics vertical. So when we've provided the TAM for robotics, it's actually defense has been just a subvertical within there and it's absorbed and never broken out. That's really because defense is, it's an emerging market and it's rapidly evolving and like even in the last year there's been a huge shift in technology companies entering that space, new approaches being taken to old problems in defense. So there may be a point where we start breaking it out because, there's enough of an ecosystem and the autonomy technology that that has been developed in adjacent markets is now really starting to play in defense, but, yeah, I don't think we're quite there yet. So again, it's a great opportunity overall. There is an established market for things like drone payloads. And just sensor payloads on drones and that's where the blue UAS certification kind of is a leading indicator of some of the early opportunities in defense. I think it will be a little while longer before some of the ground and other, autonomous systems come to market and come to technology maturity and start building a TAM around those.

是的，謝謝你的提問。我們傳統上把國防市場納入到我們的機器人垂直領域中，它被吸收進了我們的垂直領域。所以，當我們提供機器人的TAM時，實際上國防市場只是我們垂直領域的一個子領域，它被吸收了，從未被單獨列出來。這是因為國防是一個新興市場，而且發展迅速，即使在去年，進入該領域的科技公司也發生了巨大的轉變，他們正在採用新的方法來解決國防領域的老問題。所以，我們或許會在某個時候開始單獨列出來，因為現在已經有了一個足夠完善的生態系統，而且在相關市場開發的自主技術現在也開始在國防領域發揮作用。但是，是的，我認為我們還沒有完全做到這一點。所以，總的來說，這是一個很好的機會。無人機有效載荷等產品已經有一個成熟的市場，包括無人機上的感測器有效載荷，而藍色無人機系統認證在某種程度上是國防領域一些早期機會的先行指標。我認為一些地面系統和其他自主系統進入市場、技術成熟並開始圍繞它們建立 TAM 還需要一段時間。

Great, I'm sorry and shorter term, as you look at your guidance for Q3, there any kind of particular verticals driving that expectation for sequential growth that you can call on?

太好了，很抱歉，短期來看，當您查看第三季度的指導時，是否有任何特定的垂直行業可以推動您可以參考的連續增長預期？

Well, I think overall the diversification at Auster is what's leading to robust growth, robust and consistent growth for 10 quarters straight now and hopefully going on 11 with our guidance and so ultimately I think industrial has been bread and butter for ouster and it's important that that continues to grow and we see a lot of tailwinds with the industrial sector embracing physical AI embracing. AI solutions and new sensor technologies, so that I expect to continue to drive our growth. We have a lot of long term industrial customers that are now entering production and so, and overall we just have a huge amount of visibility into the demand for our technology across our verticals just given the long term relationships that we've built with our customer set so. I'm very pleased to be able to guide up again confidently 35 to 38 million next quarter and that's just built on I guess the momentum from many years of playing in a diverse set of industries with high quality customers.

嗯，我認為總體而言，Auster 的多元化策略是其強勁成長的關鍵，它已經連續 10 個季度實現了強勁且持續的成長，並且有望在我們的預期下連續 11 個季度實現成長。因此，我認為工業一直是 Auster 的核心業務，保持其持續成長至關重要。我們看到工業領域對實體人工智慧、人工智慧解決方案和新感測器技術的積極應用，這為我們的持續成長提供了巨大的推動力。我們擁有許多長期工業客戶，他們現在正在投入生產。總體而言，鑑於我們與客戶群建立的長期合作關係，我們對各個垂直領域對我們技術的需求有著清晰的了解。我很高興能夠再次自信地將下季度的業績預期上調至 3500 萬至 3800 萬美元，這建立在我們多年來在多元化行業與高品質客戶合作的基礎上。

Great, thanks very much.

太好了，非常感謝。

Richard Shannon, Craig-Hallum Capital Group.

克雷格-哈勒姆資本集團的理查德·香農。

Well, thanks for letting me ask a follow on. I just have one Angus here. I just want to touch on the on the automotive space here.

好的，謝謝你讓我繼續問問題。這裡只有一位安格斯。我只想談談汽車領域。

I guess clarifying to the degree to which the, this this past quarter and kind of recent past year has been mostly related to RoboTaxis. And then as we look forward to your next gen products, she called out the digital flash products enabled by the L4 chip here. How do we think about your go forward strategy and kind of time frames you're expecting for, broader volumes in the automotive space?

我想澄清一下，過去一個季度以及最近一年，RoboTaxis 的銷量主要與哪些方面相關。然後，當我們期待你們的下一代產品時，她提到了由 L4 晶片支援的數位快閃記憶體產品。我們如何看待你們未來的策略，以及你們對汽車領域更大規模銷售的預期時間框架？

Thanks. And just one clarification, the L4 chip or the digital flash products are using the Chronos chip. So there's two pieces of silicon that we're working on right now L4 and then and then Chronos, and Kronos is the one that's going into the DF for digital flash units. So you know that's why we actually have an immense amount of activity going on in our product roadmap and development. And that's why I said we've 2 Xing our TAM with the roadmap that we have under development right now. It's the most compelling roadmap Auster has ever had at the company.

謝謝。還有一點要澄清，L4晶片，或者說數位快閃記憶體產品使用的是Chronos晶片。所以我們目前正在研發兩種晶片：L4晶片和Chronos晶片。 Kronos晶片將用於數位快閃記憶體單元的DF（設計框架）。所以，這就是為什麼我們在產品路線圖和開發方面投入了大量精力。這就是為什麼我說我們正在用目前正在開發的路線圖來衡量我們的TAM（總市場規模）。這是Auster在公司史上最引人注目的路線圖。

So I'm still incredibly bullish about what we're working on internally, and so that goes to, where will we be when ultimately the automotive ADAS or consumer ADAS market is ready.

因此，我仍然對我們內部的工作非常樂觀，那麼當汽車 ADAS 或消費者 ADAS 市場最終準備就緒時，我們將處於什麼位置。

My goal there, so this is set apart from Robotaxis and the comments around Robotaxis being an interesting market that may come in the next couple of years. Consumer ADAS is still a very difficult market for us to predict, but we've been working for years on products that will be relevant in that market when OEMs are ready. To adopt this technology set and mass and that that adoption looks like L2 and L3 ADAS systems in consumer vehicles. So we're going to have the right products at the right time for them, but it's very difficult to predict exactly when the volumes are going to hit in the United States or in the Western world for that market.

我的目標是，這與Robotaxis以及關於Robotaxis是一個可能在未來幾年內出現的有趣市場的評論有所不同。消費級ADAS市場對我們來說仍然很難預測，但多年來，我們一直在研發能夠在原始設備製造商（OEM）做好準備後在該市場中佔據重要地位的產品。目標是大規模採用這套技術，例如在消費級車輛中部署L2和L3 ADAS系統。因此，我們會在合適的時間為他們提供合適的產品，但很難準確預測該市場何時會在美國或西方世界達到高峰銷售。

And it's why it's not built into really our long term financial framework. We we're confident we can hit our financial metrics, our 30 to 50% revenue growth, without needing a silver bullet like consumer aid as.

這就是為什麼它沒有真正納入我們的長期財務框架。我們有信心實現我們的財務指標，即30%到50%的收入成長，而不需要像消費者援助這樣的靈丹妙藥。

Okay, appreciate that there. That's all for me, I guess.

好的，謝謝。我想我的就到此為止了。

And it seems that we have no further questions for today. I would now like to turn the call back over to Angus Palla for closing remarks.

今天好像沒有其他問題了。現在，我想把發言時間交還給安格斯·帕拉，請他做最後發言。

Well, thank you all for joining the call, and I look forward to speaking with you again on the 3rd quarter. Thanks all.

好的，感謝大家參加電話會議，期待第三季再次與大家交流。謝謝大家。

This concludes the meeting. You may now disconnect your lines. Have a pleasant day.

會議到此結束。您可以掛斷電話了。祝您有個愉快的一天。