Ouster Inc (OUST) 2021 Q1 法說會逐字稿

Good afternoon. My name is Rebecca, and I will be your conference operator today. At this time, I would like to welcome everyone to Ouster's First Quarter Earnings Conference Call. (Operator Instructions) The 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. On the call today are Ouster's Chief Executive Officer, Angus Pacala; and Chief Financial Officer, Anna Brunelle.

下午好。我叫麗貝卡，今天我將擔任你們的會議操作員。此時此刻，我謹歡迎大家參加 Ouster 第一季度收益電話會議。 （操作員說明）電話會議正在錄音，電話會議結束一小時後，Ouster 投資者關係網站將提供電話會議的重播。今天參加電話會議的是 Ouster 首席執行官 Angus Pacala；和首席財務官安娜布魯內爾。

Before we begin the prepared remarks, we would like to remind you that Ouster has issued a press release announcing its first quarter 2021 financial results shortly after market close today. The company also published an investor presentation. You may access the materials on the Investor Relations section of ouster.com.

在我們開始準備好的發言之前，我們想提醒您，Ouster 在今天收盤後不久發布了一份新聞稿，宣布了其 2021 年第一季度的財務業績。該公司還發布了投資者簡報。您可以訪問 ouster.com 投資者關係部分的材料。

I'd also like to remind everyone that during the course of this conference call, Ouster's management will discuss forecasts, targets and other forward-looking statements regarding the company's future customer orders and the company's business outlook that are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for forward-looking statements. While these statements represent the management's current expectations and projections about future results and performance as of today, Ouster's actual results are subject to many risks and uncertainties that could cause actual results to differ materially from the -- from those expectations.

我還想提醒大家，在本次電話會議期間，Ouster 管理層將討論有關公司未來客戶訂單和公司業務前景的預測、目標和其他前瞻性陳述，這些內容將由安全保險涵蓋。前瞻性陳述遵循1995 年《私人證券訴訟改革法案》的規定。雖然這些陳述代表了管理層目前對未來業績和業績的預期和預測，但 Ouster 的實際結果受到許多風險和不確定性的影響，可能導致實際結果與這些預期存在重大差異。

In addition to any risks highlighted during this call, important factors that may affect Ouster's future results are described in its most recent SEC reports filed with the Securities and Exchange Commission, including today's earnings press release. Except as required by applicable law, the company undertakes no obligation to update any of these forward-looking statements for any reason after the date of this call.

除了本次電話會議中強調的任何風險之外，可能影響 Ouster 未來業績的重要因素也在其向美國證券交易委員會提交的最新 SEC 報告（包括今天的收益新聞稿）中進行了描述。除適用法律要求外，公司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陳述的義務。

Lastly, information discussed on this call concerning the company's industry competitive position in the market in which it operates is based on information from independent industry and research organizations, other third-party sources and management estimates. Management estimates are derived from publicly available information released by independent industry analysts and other third-party resources as well as data from the company's internal research and are based on assumptions made upon reviewing such data and this experience and the knowledge of such industry in markets, which it believes to be reasonable. These assumptions are subject to uncertainties and risks, which could cause results to differ materially from those expressed in the estimates.

最後，本次電話會議討論的有關該公司在其經營所在市場的行業競爭地位的信息基於來自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。管理層的估計來自獨立行業分析師和其他第三方資源發布的公開信息以及公司內部研究的數據，並基於審查這些數據以及該行業在市場中的經驗和知識時做出的假設，它認為這是合理的。這些假設存在不確定性和風險，可能導致結果與估計中表達的結果存在重大差異。

I would now like to turn the call over to Ouster's Chief Executive Officer, Angus Pacala. Please go ahead, sir.

我現在想將電話轉給 Ouster 首席執行官安格斯·帕卡拉 (Angus Pacala)。請繼續，先生。

Good afternoon, everyone, and thank you for joining us for our first quarterly earnings call. I'm excited to tell you about our record quarter followed by an update on our business and execution road map. I'll then turn things over to Ouster's CFO, Anna Brunelle, to update you on our financial performance and business outlook.

大家下午好，感謝您參加我們的第一次季度財報電話會議。我很高興向您介紹我們創紀錄的季度業績，然後更新我們的業務和執行路線圖。然後我將把事情轉交給 Ouster 的首席財務官 Anna Brunelle，向您介紹我們的財務業績和業務前景的最新情況。

To begin, I want to share out this perspective on why digital lidar is the only lidar technology capable of delivering the quality, reliability and cost structure to enable revolutionary autonomy across industries. Today, lidar is best known for being a critical sensor for autonomous vehicles. But at Ouster, we understand that lidar is much, much more than that. It's the building block of a new world in which autonomous machines can see and understand their surroundings.

首先，我想分享一下為什麼數字激光雷達是唯一能夠提供質量、可靠性和成本結構以實現跨行業革命性自主的激光雷達技術的觀點。如今，激光雷達因其作為自動駕駛汽車的關鍵傳感器而聞名。但在 Ouster，我們知道激光雷達的意義遠不止於此。它是新世界的基石，在這個新世界中，自主機器可以看到並理解周圍的環境。

Digital lidar is powering automation in everything from robots and factories to traffic lights and security systems. It can improve safety and save lives, drive efficiency and productivity gains and enhance sustainability. The lidar needs to be both highly performing across a wide set of criteria and also low cost enough that manufacturers are able to design it into the products that users want and can afford.

數字激光雷達正在為從機器人和工廠到交通燈和安全系統的各個領域的自動化提供動力。它可以提高安全性、拯救生命、提高效率和生產力並增強可持續性。激光雷達需要在廣泛的標準下具有高性能，並且成本足夠低，以便製造商能夠將其設計成用戶想要且負擔得起的產品。

Our digital lidar offers a combination of the highest performance at the lowest cost in the industry. It vastly improves upon analog technology in size, weight, form factor, power efficiency and weather durability. Our performance in the first quarter continues to demonstrate that our sensors are an ideal fit for 4 target markets: automotive, industrial, smart infrastructure and robotics, which opens up the TAM that we expect to grow to $8.6 billion by 2025.

我們的數字激光雷達以業內最低的成本提供最高的性能。它在尺寸、重量、外形尺寸、功率效率和耐候性方面極大地改進了模擬技術。我們第一季度的表現繼續證明，我們的傳感器非常適合 4 個目標市場：汽車、工業、智能基礎設施和機器人，這使得我們預計到 2025 年 TAM 將增長到 86 億美元。

We continue to extend our multi-market presence through meaningful gains in performance due to our digital technology. And we expect to continue to scale exponentially in line with Moore's Law in a way that no other lidar technology can come close to matching.

通過我們的數字技術帶來的業績顯著提升，我們繼續擴大我們的多市場影響力。我們預計將繼續按照摩爾定律呈指數級擴展，這是其他激光雷達技術無法比擬的。

Turning to business updates. Ouster ended 2020 with $18.9 million in product revenue, reached over 500 customers across 50 countries, ramped up manufacturing capacity at our benchmark Thailand facility and shipped over 2,000 sensors worldwide. We demonstrated tremendous growth in a short period of time, illustrating that we have the right technology to win in this industry and that we have a scalable go-to-market approach.

轉向業務更新。 2020 年底，Ouster 的產品收入為 1,890 萬美元，覆蓋了 50 個國家/地區的 500 多家客戶，提高了我們基準泰國工廠的製造能力，並向全球發貨了 2,000 多個傳感器。我們在短時間內實現了巨大的增長，這表明我們擁有在這個行業獲勝的正確技術，並且我們擁有可擴展的市場進入方法。

In the first quarter of 2021, Ouster successfully closed the business combination with Colonnade Acquisition Corp. with nearly $300 million in gross proceeds and began trading on the New York Stock Exchange under the ticker OUST on March 12, 2021. We achieved another record quarter with $6.6 million in revenue, a year-on-year increase of 187%, in line with our forecast and which we believe positions us to meet our full year 2021 revenue target of $33 million to $35 million.

2021 年第一季度，Ouster 成功完成了與 Colonnade Acquisition Corp. 的業務合併，總收益近 3 億美元，並於 2021 年 3 月 12 日開始在紐約證券交易所上市，股票代碼為 OUST。收入為660萬美元，同比增長187%，符合我們的預測，我們相信這將使我們能夠實現2021 年全年3300 萬美元至3500 萬美元的收入目標。

We scaled up our second-generation sensor production and shipped a record 978 sensors for revenue in the first quarter, which is nearly half of what we shipped in all of 2020. We have signed 30 strategic customer agreements or SCAs so far this year, bringing our total SCA count to 40. These customers alone represent the potential for over $385 million in contracted revenue opportunity through 2025. Anna will say more about what this means for the business later on.

我們擴大了第二代傳感器的生產規模，第一季度的收入出貨量達到了創紀錄的978 個傳感器，幾乎是我們2020 年全年出貨量的一半。今年到目前為止，我們已經簽署了30 份戰略客戶協議或SCA，帶來了我們的SCA 總數達到40 個。僅這些客戶就代表了到2025 年就可能實現超過3.85 億美元的合同收入機會。安娜稍後將詳細介紹這對業務意味著什麼。

Turning to product development. We're executing against our product road map, delivering increased hardware and software capabilities in faster cycles than our peers. One of the things that makes Ouster special is our ability to innovate and develop our products faster because of our digital approach. This past quarter, we announced the rollout of upgraded Rev D sensors with improved reliability and industry's only standard 2-year warranty for high-performance lidar across the entire product suite. Additionally, we're releasing a software update in Q2, which will offer a significant improvement in performance for all of our customers.

轉向產品開發。我們正在按照我們的產品路線圖執行，以比同行更快的周期提供增強的硬件和軟件功能。 Ouster 的獨特之處之一是我們能夠通過數字化方法更快地創新和開發產品。上個季度，我們宣布推出升級版 Rev D 傳感器，該傳感器具有更高的可靠性，並為整個產品套件的高性能激光雷達提供業界唯一的標準 2 年保修。此外，我們將在第二季度發佈軟件更新，這將為我們所有客戶提供顯著的性能改進。

And finally and most importantly, we have designed complete on our next-generation L.3 chipset, which has been under development for the past year and takes advantage of next-generation fabrication technology. The L.3 chip offers further exponential gains in performance and capabilities that will strengthen our entire product portfolio. And again, we don't have to re-architect our products to achieve major performance gains, just the chipsets year after year after year.

最後也是最重要的是，我們已經完成了下一代 L.3 芯片組的設計，該芯片組在過去一年中一直在開發中，並利用了下一代製造技術。 L.3 芯片在性能和功能方面提供了進一步的指數級提升，這將增強我們的整個產品組合。再說一次，我們不需要重新設計我們的產品來實現主要的性能提升，只需年復一年地重新設計芯片組即可。

I'm also very excited to go into more detail on our automotive product mission review. Ouster's consumer ADAS strategy is based on the premise that an autonomous system cannot move in the direction that it cannot sense. Consumers expect that their L3 systems will be able to change lanes, merge, exit a highway and drive to a 4-way stop. The requirement is clear. These systems need 360-degree vision to make these maneuvers possible. And that's why we're developing the industry's only truly solid-state multi-sensor product suite.

我也很高興能夠更詳細地了解我們的汽車產品任務審查。 Ouster 的消費者 ADAS 戰略基於這樣一個前提：自主系統不能朝它無法感知的方向移動。消費者期望他們的 L3 系統能夠變道、並道、駛出高速公路以及駛至 4 路停車站。要求很明確。這些系統需要 360 度視野才能實現這些操作。這就是我們開發業界唯一真正的固態多傳感器產品套件的原因。

Automakers have released lidar RFQs for consumer ADAS targeted at 3 different sensor types, short, medium and long-range lidar. Based on major OEM forecasts, Goldman Sachs recently estimated that by 2030, up to 20% of the 115 million vehicles produced will require between 3 to 6 lidar sensors each. We believe this type of analysis further validates our perspective on the time line for series production, attach rates and, most critically, a multi-sensor lidar requirement for the next generation of advanced driver assistance systems.

汽車製造商發布了針對消費類 ADAS 的激光雷達詢價，針對 3 種不同的傳感器類型：短程、中程和遠程激光雷達。根據主要 OEM 的預測，高盛最近估計，到 2030 年，生產的 1.15 億輛汽車中多達 20% 將需要每輛 3 到 6 個激光雷達傳感器。我們相信，這種類型的分析進一步驗證了我們對批量生產時間線、附加率以及最重要的是下一代先進駕駛員輔助系統的多傳感器激光雷達要求的看法。

Ouster is uniquely positioned to offer a full automotive product family that addresses the multi-sensor need at a price that will enable these vehicles to move from a luxury option to mass adoption. We're developing the holy grail of automotive lidar, truly solid-state, low-cost and high-performance digital lidar sensors that can be seamlessly integrated into the vehicle body, enabling a combined price point of $1,000. We expect to deliver our first solid-state samples for the multi-sensor suite in the fourth quarter of 2022, and I look forward to sharing more about our automotive product offerings in the coming months.

Ouster 具有獨特的優勢，能夠提供完整的汽車產品系列，滿足多傳感器需求，且價格將使這些車輛從豪華選擇轉向大規模採用。我們正在開發汽車激光雷達的聖杯，即真正的固態、低成本和高性能數字激光雷達傳感器，可以無縫集成到車身中，綜合價位為 1,000 美元。我們預計在 2022 年第四季度交付多傳感器套件的第一個固態樣品，我期待在未來幾個月分享更多有關我們汽車產品的信息。

As excited as I am about this upcoming product suite and its potential for automotive, Ouster doesn't have to wait for ADAS programs to reach series production to generate meaningful revenue today. Our growth is indexed to the rapid acceleration of automation in each of our end markets. We are witnessing an unprecedented shift across industries, as the global economy is disrupted by autonomous technology.

儘管我對即將推出的產品套件及其在汽車領域的潛力感到興奮，但 Ouster 無需等待 ADAS 項目實現批量生產即可在今天產生可觀的收入。我們的增長與每個終端市場自動化的快速加速有關。隨著全球經濟受到自主技術的干擾，我們正在目睹跨行業前所未有的轉變。

Take the global supply chain as an example. Gartner predicts that by 2025, more than 20% of all products will be manufactured, packed, shipped and delivered without being touched by anyone, but the end customer. In a recent lidar report, GM estimated that the TAM for moving people and goods autonomously could eventually reach $7 trillion, and COVID has only accelerated the appetite to automate.

以全球供應鍊為例。 Gartner 預測，到 2025 年，超過 20% 的產品將在除了最終客戶之外的任何人的情況下製造、包裝、運輸和交付。在最近的一份激光雷達報告中，通用汽車估計用於自動運送人員和貨物的 TAM 最終可能達到 7 萬億美元，而新冠疫情只會加速人們對自動化的需求。

The vastness of the TAM for lidar is only just starting to become clear. So I'd like to walk you through some of the trends we're seeing across each of our end markets as well as examples of customers that are using our products today.

激光雷達 TAM 的廣闊前景才剛剛開始變得清晰。因此，我想向您介紹我們在每個終端市場看到的一些趨勢以及當今使用我們產品的客戶示例。

First, in automotive, aside from the multi-sensor suite that we're developing for consumer ADAS, we believe there are 2 important areas for growth where we already have an established business, robotaxis and robotrucking. After a decade of R&D, these systems are now transitioning to full production. This year alone, we've signed SCAs for many thousands of units. For instance, we signed an SCA with automated trucking company, Plus, for an initial binding commitment of 2,000 sensors and a forecast of 160,000 sensors over the next 5 years, one of the largest lidar deals ever inked.

首先，在汽車領域，除了我們正在為消費者ADAS 開發的多傳感器套件之外，我們相信還有兩個重要的增長領域，我們已經在這兩個領域建立了成熟的業務：機器人出租車和機器人卡車運輸。經過十年的研發，這些系統現已過渡到全面生產。僅今年一年，我們就簽署了數千台設備的 SCA。例如，我們與自動卡車運輸公司 Plus 簽署了一份 SCA，最初承諾提供 2,000 個傳感器，並預測未來 5 年提供 160,000 個傳感器，這是有史以來簽署的最大的激光雷達交易之一。

Another robotrucking customer, Daimler Trucks, recently demonstrated their new development platform, which uses 3 Ouster sensors on each of their Torc testing vehicles. May Mobility, a leader in autonomous shuttles, is placing 4 ouster sensors per vehicle on their next-generation platform. QCraft plans to have 100 robobuses outfitted with Ouster sensors on open roads in China by the end of this year. And we signed an SCA with a major trucking OEM representing over $20 million in contracted revenue opportunities through 2023.

另一個機器人卡車客戶戴姆勒卡車最近展示了他們的新開發平台，該平台在每輛 Torc 測試車輛上使用 3 個 Ouster 傳感器。 May Mobility 是自動駕駛班車領域的領導者，正在其下一代平台上為每輛車放置 4 個驅逐傳感器。 QCraft 計劃今年年底前在中國的開放道路上安裝 100 輛配備 Ouster 傳感器的機器人巴士。我們與一家大型卡車運輸 OEM 簽署了 SCA，到 2023 年合同收入機會將超過 2000 萬美元。

We believe that years of growth lie ahead of us as our robotrucking, robotaxi and ADAS submarkets mature and the automotive market expands to a $1.9 billion TAM by 2025.

我們相信，隨著機器人卡車、機器人出租車和 ADAS 子市場的成熟，以及到 2025 年汽車市場的 TAM 規模將擴大到 19 億美元，我們將迎來數年的增長。

Moving to industrials. For decades, automation has been transforming sectors from mining to advanced manufacturing and construction. Now lidar technology is converting these simple safety systems into intelligent machines capable of greater and greater levels of autonomy. For example, we just signed an SCA with a major warehouse automation provider, which is switching to Ouster sensors for its intelligent forklift platform.

轉向工業。幾十年來，自動化一直在改變從採礦業到先進製造和建築業的各個領域。現在，激光雷達技術正在將這些簡單的安全系統轉變為具有越來越高自主性的智能機器。例如，我們剛剛與一家大型倉庫自動化提供商簽署了 SCA，該提供商正在為其智能叉車平台改用 Ouster 傳感器。

We have an SCA with Outrider to deploy our digital lidar on its autonomous yard trucks. Our sensors are powering the world's first large-scale autonomous mining truck project in Inner Mongolia through our SCA with Waytous. We have an SCA with Kässbohrer to deploy our sensors on SNOWsat as part of its technology for ski slope maintenance. And Sandvik has demonstrated their AutoMine Concept using 4 Ouster sensors per vehicle to push the boundaries of mining automation.

我們與 Outrider 建立了 SCA，在其自動堆場卡車上部署我們的數字激光雷達。我們的傳感器通過我們與 Waytous 的 SCA 為內蒙古的世界上第一個大型自動採礦卡車項目提供動力。我們與 Kässbohrer 建立了 SCA，在 SNOWsat 上部署我們的傳感器，作為其滑雪場維護技術的一部分。山特維克展示了他們的 AutoMine 概念，每輛車使用 4 個 Ouster 傳感器來突破採礦自動化的界限。

The industrial lidar market is nearly $1 billion today and consists primarily of 2D analog lidar technology invented over 30 years ago. This presents a unique near-term opportunity for us to convert this established customer base to 3D lidar. As automation trends accelerate, we expect industrial lidar market to grow to $2.1 billion by 2025.

目前工業激光雷達市場價值近 10 億美元，主要由 30 多年前發明的 2D 模擬激光雷達技術組成。這為我們提供了一個獨特的近期機會，將現有的客戶群轉向 3D 激光雷達。隨著自動化趨勢的加速，我們預計到 2025 年工業激光雷達市場將增長至 21 億美元。

Third, in smart infrastructure, we are extremely optimistic about Biden's $2 trillion infrastructure plan, which if passed would likely accelerate investments to modernize bridges, highways, roads, ports and intersections. Lidar is uniquely positioned against cameras to modernize our infrastructure while preserving privacy.

第三，在智能基礎設施方面，我們對拜登的2萬億美元基礎設施計劃極為樂觀，該計劃如果獲得通過，可能會加速對橋樑、高速公路、道路、港口和十字路口現代化的投資。激光雷達相對於攝像頭具有獨特的優勢，可以在保護隱私的同時實現基礎設施的現代化。

We've partnered with companies like AkiraKan, a supplier of full stack AI and V2X solutions, which is deploying our sensors to monitor vehicle and pedestrian traffic flow in APAC cities. We have multiple pilot programs across the U.S., supporting cities on their mission to reduce road accidents under their Vision Zero programs as well as major smart infrastructure deployments in Germany and China. To date, we have 13 active projects and 52 projects in development across EMEA, APAC and the Americas.

我們與 AkiraKan 等全棧人工智能和 V2X 解決方案供應商合作，該公司正在部署我們的傳感器來監控亞太地區城市的車輛和行人交通流量。我們在美國各地開展了多個試點項目，支持城市履行“零願景”計劃下減少道路事故的使命，並支持德國和中國的主要智能基礎設施部署。迄今為止，我們在歐洲、中東和非洲、亞太地區和美洲有 13 個活躍項目和 52 個正在開發的項目。

We believe that the addressable smart infrastructure market, around $500 million today, is poised to grow the fastest of our verticals over the next few years and reach $2.8 billion by 2025. Everywhere there is a CCTV camera or radar system in use today is an opportunity to augment or replace that system with Ouster's digital lidar in the future.

我們相信，可尋址的智能基礎設施市場目前約為5 億美元，預計在未來幾年內將成為我們垂直行業中增長最快的市場，到2025 年將達到28 億美元。如今，只要有閉路電視攝像頭或雷達系統使用，到處都是機會未來用 Ouster 的數字激光雷達增強或取代該系統。

Finally, we categorized last-mile delivery, street cleaning drone applications and academic research among other emerging use cases as part of the robotics end market. The common thread in this vertical is that each one of our customers is pursuing a potentially world-changing application in their own right. Our customer Postmates, now Serve Robotics, uses our sensors for its last-mile delivery business with deployments in L.A. and San Francisco.

最後，我們將最後一英里送貨、街道清潔無人機應用和學術研究以及其他新興用例歸類為機器人終端市場的一部分。這一垂直領域的共同點是，我們的每一位客戶都在憑藉自己的能力追求一種可能改變世界的應用程序。我們的客戶 Postmates（現為 Serve Robotics）使用我們的傳感器進行最後一英里配送業務，並在洛杉磯和舊金山部署。

Renu Robotics is using Ouster sensors for automated vegetation management and solar farms. ScoutDI has deployed our digital lidar on drones to safely navigate and inspect industrial assets. And Canvas, a construction robotics company, is deploying our sensors on robots in large-scale construction sites. The total addressable robotics market is around $200 million today. And we expect it to grow to $1.8 billion by 2025, driven by literally hundreds of emerging use cases.

Renu Robotics 正在使用 Ouster 傳感器進行自動化植被管理和太陽能發電場。 ScoutDI 在無人機上部署了我們的數字激光雷達，以安全導航和檢查工業資產。建築機器人公司 Canvas 正在大型建築工地的機器人上部署我們的傳感器。目前機器人市場的總規模約為 2 億美元。我們預計到 2025 年，在數百個新興用例的推動下，這一數字將增長至 18 億美元。

To capitalize on the demand we're seeing across these 4 markets, we're investing heavily in our go-to-market teams by building a scalable, predictable commercial engine to accelerate lidar adoption. We've up-leveled our management team in the last few months with new additions to our Board, including Sundari Mitra, the Corporate Vice President of Intel's IP Engineering Group; Manny Hernandez, Board Director at ON Semiconductor; and Carl Bass, former Autodesk CEO and Chairman at Zoox.

為了充分利用我們在這 4 個市場看到的需求，我們正在對市場團隊進行大力投資，構建可擴展、可預測的商業引擎，以加速激光雷達的採用。在過去的幾個月裡，我們對管理團隊進行了升級，董事會增加了新成員，其中包括英特爾 IP 工程集團公司副總裁 Sundari Mitra； Manny Hernandez，安森美半導體董事；卡爾·巴斯 (Carl Bass)，Autodesk 前首席執行官兼 Zoox 董事長。

And earlier today, we announced a significant addition to our executive team with Nate Dickerman coming on board to serve as President of Field Operations and lead Ouster's overall commercial strategy and execution. He brings decades of sales experience, leading global teams at Planet Labs, Autodesk and IBM. To fast track our growth, we have already expanded the sales team by 50% since the beginning of the year in order to win more of the 14,000 potential customers we estimate are available to us. It is a significant competitive advantage that we can make these investments now and to near-term results.

今天早些時候，我們宣布對執行團隊進行重大補充，Nate Dickerman 加入，擔任現場運營總裁，領導 Ouster 的整體商業戰略和執行。他擁有數十年的銷售經驗，領導 Planet Labs、Autodesk 和 IBM 的全球團隊。為了快速實現增長，自今年年初以來，我們已經將銷售團隊擴大了 50%，以便在我們估計的 14,000 名潛在客戶中贏得更多。我們現在就可以進行這些投資並取得近期成果，這是一個顯著的競爭優勢。

With that, I'd like to turn it over to our CFO, Anna Brunelle.

接下來，我想將其交給我們的首席財務官 Anna Brunelle。

Thanks, Angus. Before I get started, there is one administrative issue I want to cover related to the SEC's new guidance on accounting for warrants issued by SPAC.

謝謝，安格斯。在開始之前，我想先介紹一個與 SEC 關於 SPAC 發行認股權證會計新指南相關的行政問題。

We want to make clear that we've completed our analysis of the SEC's guidance impact on Ouster. And our financial results included in today's earnings release reflect our evaluation and are indicative of how we expect to account for the warrants going forward. Due to the timing of our transaction with Colonnade, we are still evaluating the impact of the SEC's guidance on Colonnade's historical financial statements in the Form 10-K. But we do not expect any determination relating to Colonnade's historic financials to have an impact on Ouster's financials going forward or on what we've shared with you today.

我們想明確表示，我們已經完成了對 SEC 對 Ouster 的指導影響的分析。今天的收益發布中包含的財務業績反映了我們的評估，並表明了我們預計如何解釋未來的認股權證。由於我們與 Colonnade 進行交易的時間安排，我們仍在評估 SEC 的指導對 Colonnade 10-K 表格中歷史財務報表的影響。但我們預計與 Colonnade 歷史財務狀況相關的任何決定不會對 Ouster 未來的財務狀況或我們今天與您分享的內容產生影響。

So moving on, now I'd like to touch on a few of the operational highlights Angus shared and what they mean for the business this year and over the long term. We achieved a record first quarter with $6.6 million in revenue, a year-on-year increase of 187%, in line with our internal estimates. I also want to reaffirm our previously issued full year 2021 revenue guidance of $33 million to $35 million, which represents an increase of approximately 75% to 85% as compared to prior year revenue of $18.9 million.

接下來，我想談談安格斯分享的一些運營亮點，以及它們對今年和長期業務的意義。我們第一季度實現創紀錄的收入 660 萬美元，同比增長 187%，與我們的內部預測一致。我還想重申我們之前發布的 2021 年全年收入指引為 3300 萬美元至 3500 萬美元，與上一年的收入 1890 萬美元相比增加了約 75% 至 85%。

As a reminder, we do not currently offer quarterly revenue guidance based on current customer forecast. We do expect our revenue growth to increase in the second half of 2021, similar to the growth trends we saw in the second half of 2020.

提醒一下，我們目前不提供基於當前客戶預測的季度收入指導。我們確實預計 2021 年下半年的收入增長將有所增加，與 2020 年下半年的增長趨勢類似。

To date, Ouster has signed 40 strategic customer agreements or SCAs representing over $385 million in contracted revenue opportunity from just these customers alone through 2025. Angus already mentioned a handful of the companies we are working with in each vertical, which are a testament to the benefits of our digital platform and the broad applicability of our unique technology. We want to remind everyone that SCAs established a multiyear purchase and supply framework for Ouster and the customer and include details about the customer programs and applications where the Ouster products will be used.

迄今為止，Ouster 已簽署 40 份戰略客戶協議或 SCA，僅這些客戶到 2025 年的合同收入機會就將超過 3.85 億美元。Angus 已經提到了我們在每個垂直領域合作的幾家公司，這證明了我們的數字平台的優勢以及我們獨特技術的廣泛適用性。我們想提醒大家，SCA 為 Ouster 和客戶建立了一個多年採購和供應框架，其中包括有關使用 Ouster 產品的客戶計劃和應用程序的詳細信息。

They also include multiyear nonbinding customer forecasts, giving Ouster visibility on the customers' long-term purchasing requirements, mutually agreed upon pricing for specific Ouster products over the duration of the agreement and, in some cases, include multiyear binding purchase commitments. For customers that provided less than a 5-year forecast, no additional revenue opportunity beyond the term of the customer's forecast has been imputed.

它們還包括多年的非約束性客戶預測，使 Ouster 了解客戶的長期採購需求，在協議期間雙方商定特定 Ouster 產品的定價，並且在某些情況下，包括多年約束性的採購承諾。對於提供少於 5 年預測的客戶，不會估算超出客戶預測期限的額外收入機會。

This is incredibly important to understand, which is not every company defines contracted revenue opportunity in the same way. At Ouster, we set a high bar for a customer relationship to rise to the level of a strategic customer agreement. And as a result, we believe we are building and reporting on the largest and, more importantly, the most legitimate order book for high-performance digital lidar. Because our work with 500-plus customers gives us the unique insight into their automation plans, we believe we are reaching a tipping point in lidar adoption as more and more projects move from R&D to production and deployment.

理解這一點非常重要，並非每家公司都以相同的方式定義合同收入機會。在 Ouster，我們為客戶關係設定了很高的標準，以提升到戰略客戶協議的水平。因此，我們相信我們正在構建和報告最大的、更重要的是最合法的高性能數字激光雷達訂單簿。由於我們與 500 多家客戶的合作使我們對他們的自動化計劃有了獨特的見解，因此我們相信，隨著越來越多的項目從研發轉向生產和部署，我們正在達到激光雷達採用的轉折點。

Remember, applications in nonautomotive verticals often have lower barriers to production scale and benefit from a direct ROI based on improved safety and efficiency via automation, resulting in faster adoption and building confidence around our forecasted revenue ramp.

請記住，非汽車垂直行業的應用程序通常對生產規模的障礙較低，並且可以從基於通過自動化提高安全性和效率的直接投資回報率中受益，從而更快地採用並建立對我們預測的收入增長的信心。

Of course, as Angus said, we also intend to lead adoption in the automotive market with our unique differentiated multi-sensor suite. Remember, 1/3 of our revenue was from automotive customers last year. We expect the TAM for our products across our 4 target markets to reach $8.6 billion by 2025 and nearly $48 billion by 2030, driven primarily by smart infrastructure and industrial applications today, with automotive and robotics applications gaining momentum by 2025. We expect to see significant market penetration and growth as we expand our sales force and bring new products to market in these 4 verticals.

當然，正如安格斯所說，我們還打算通過我們獨特的差異化多傳感器套件來引領汽車市場的採用。請記住，去年我們 1/3 的收入來自汽車客戶。我們預計，到2025 年，我們的產品在4 個目標市場的TAM 將達到86 億美元，到2030 年將達到近480 億美元，這主要是由當今的智能基礎設施和工業應用推動，到2025 年，汽車和機器人應用將獲得增長勢頭。我們預計將看到顯著的增長隨著我們擴大銷售隊伍並向這 4 個垂直市場推出新產品，市場滲透率和增長。

Turning to margins. In line with expectations, Q1 gross margins were 26%, an increase of 110% over the prior year Q1. We believe our 40 SCAs have set the stage for further margin improvement over the life of these agreements as we lock in 3- to 5-year negotiated pricing while driving additional volume growth with multiple customers across verticals.

轉向邊緣。符合預期，第一季度毛利率為26%，較去年第一季度增長110%。我們相信，我們的 40 個 SCA 為在這些協議有效期內進一步提高利潤率奠定了基礎，因為我們鎖定了 3 至 5 年的協商定價，同時推動了垂直領域多個客戶的銷量進一步增長。

As we've said before, we expect our margins to improve over time as we grow our volumes, leading to improved purchasing power and the ability to spread our fixed cost over a larger number of units sold. We believe we are the only digital lidar company achieving this kind of growth across end markets and also achieving industry-leading positive gross margins.

正如我們之前所說，隨著銷量的增加，我們預計我們的利潤率會隨著時間的推移而提高，從而提高購買力以及將固定成本分攤到更多銷售單位上的能力。我們相信，我們是唯一一家在終端市場實現這種增長並實現行業領先的正毛利率的數字激光雷達公司。

Additionally, we increased our sensor production by over 60% in the fourth quarter of 2020 and will continue to ramp production in line with sales growth. We shipped a record 978 sensors for revenue in the first quarter, up from 290 sensors in Q1 of the prior year. Because our CMOS digital lidar technology results in a simplified architecture, our products are inherently suited to volume manufacturing, allowing us to scale rapidly while driving down the cost of goods sold.

此外，我們的傳感器產量在 2020 年第四季度增加了 60% 以上，並將根據銷售增長繼續提高產量。我們第一季度銷售了創紀錄的 978 個傳感器，高於去年第一季度的 290 個傳感器。由於我們的 CMOS 數字激光雷達技術實現了簡化的架構，因此我們的產品本質上適合批量製造，使我們能夠快速擴展規模，同時降低銷售成本。

As Angus mentioned, we closed the quarter with nearly $300 million in gross proceeds from our business combination. And we believe that the capital raised from this transaction should be sufficient to carry us to EBITDA breakeven expected in 2023. Put another way, the capital raised from this transaction is approximately double the sum of capital we've used so far to develop our technology and patent portfolio to bring 2 generations of industry-leading digital lidar products to market with positive gross margins, to expand this and scale our contract manufacturing and to step into the public market.

正如 Angus 提到的，本季度結束時，我們通過業務合併獲得了近 3 億美元的總收益。我們相信，通過這次交易籌集的資金應該足以讓我們在 2023 年實現預期的 EBITDA 盈虧平衡。換句話說，通過這次交易籌集的資金大約是我們迄今為止用於開發技術的資金總額的兩倍和專利組合，將兩代行業領先的數字激光雷達產品推向市場並實現正毛利率，擴大這一產品並擴大我們的合同製造規模並進入公開市場。

Our efficient use of capital gives us confidence that we will be able to execute on our plans to grow our business while keeping some dry powder for potential strategic opportunities.

我們對資本的有效利用使我們有信心能夠執行業務發展計劃，同時為潛在的戰略機會保留一些乾粉。

We are putting this capital to work in 3 specific ways. First, we are building out our sales and marketing teams to enable us to pursue an estimated 14,000 potential customers across our end markets by 2025. Second, we plan to strengthen investments in software development to add adjacent revenue streams and to shorten customer adoption cycles. And finally, we plan to accelerate our hardware road map through increased investments in R&D aimed at shortening chip design cycles from 2 years to 1 and continuing to widen Ouster's technology moat.

我們通過三種具體方式利用這筆資金。首先，我們正在建設銷售和營銷團隊，以便到 2025 年能夠在終端市場吸引約 14,000 名潛在客戶。其次，我們計劃加強對軟件開發的投資，以增加相鄰的收入來源並縮短客戶採用周期。最後，我們計劃通過增加研發投資來加速我們的硬件路線圖，旨在將芯片設計週期從 2 年縮短到 1 年，並繼續拓寬 Ouster 的技術護城河。

As a result of our growth in positive margins, our adjusted EBITDA loss improved from $11.3 million in the first quarter of 2020 to $10 million in the first quarter of 2021. However, we have grown and will continue to grow our OpEx in 2021 as we build our teams to deliver on these 3 initiatives.

由於我們的正利潤率增長，我們調整後的EBITDA 虧損從2020 年第一季度的1130 萬美元改善到2021 年第一季度的1000 萬美元。然而，我們已經並將在2021 年繼續增長我們的運營支出，因為我們建立我們的團隊來實現這三項舉措。

In all, we remain incredibly excited about the opportunity ahead of Ouster. We believe we are the standout lidar company, not only because we have a diversified go-to-market strategy, but also because we continue to build trust with investors by executing the plan with strong business fundamentals.

總而言之，我們對 Ouster 之前的機會仍然感到非常興奮。我們相信我們是傑出的激光雷達公司，不僅因為我們擁有多元化的市場戰略，還因為我們通過執行具有強大業務基礎的計劃來繼續與投資者建立信任。

Ouster is achieving success because we invented the right platform, CMOS digital lidar. Our digital lidar unlocks a larger multi-market TAM and offers a combination of the highest performance and reliability at the lowest cost in the industry. It has allowed us to make product advancements in rapid succession and offer our growing base of over 500 customers customized solutions based on a single architecture. It has also allowed us to outsource manufacturing, lower our cost of goods sold and quickly achieve positive gross margin.

Ouster 之所以取得成功，是因為我們發明了正確的平台：CMOS 數字激光雷達。我們的數字激光雷達解鎖了更大的多市場 TAM，並以業內最低的成本提供最高的性能和可靠性的組合。它使我們能夠快速連續地實現產品進步，並為我們不斷增長的 500 多家客戶提供基於單一架構的定制解決方案。它還使我們能夠外包製造、降低銷售成本並迅速實現正毛利率。

Further, to provide an additional point of view on the strength of CMOS digital lidar on cost of goods sold, IHS Markit has concluded that VCSEL and SPAD technology, our digital lidar has the most price reduction potential based on interviews with the underlying suppliers of component parts. So not only is our technology expected to be a low-cost leader across markets, it is also important to point out that we see very little competition for high-performance lidar in the industrial, robotics and smart infrastructure markets, which are expected to provide the majority of our forecasted growth over the next few years.

此外，為了提供關於 CMOS 數字激光雷達在銷售成本方面的優勢的額外觀點，IHS Markit 根據對底層組件供應商的採訪得出結論，VCSEL 和 SPAD 技術，我們的數字激光雷達具有最大的降價潛力部分。因此，我們的技術不僅有望成為跨市場的低成本領導者，還需要指出的是，我們在工業、機器人和智能基礎設施市場中看到高性能激光雷達的競爭很少，預計這些市場將提供我們預測未來幾年的大部分增長。

To close, we've had 2 record quarters back-to-back. Our recent high-profile customer wins, our significant pipeline of contract opportunities and our commitment to new product development positions us well for the future. We're on track to meet this year's revenue target of $33 million to $35 million and gross margin target of 25% to 27%. Our signed multiyear SCAs are ramping, and we are on pace to more than triple sensor production year-over-year. Ouster is uniquely positioned with the right products, more customers, more use cases and great product market fit across our 4 verticals in order to dominate the industry.

截至結束時，我們已經連續兩個季度創紀錄。我們最近贏得的備受矚目的客戶、大量的合同機會以及我們對新產品開發的承諾使我們在未來佔據有利地位。我們有望實現今年 3300 萬至 3500 萬美元的收入目標和 25% 至 27% 的毛利率目標。我們簽署的多年期 SCA 正在不斷增加，我們的傳感器產量有望逐年增加三倍以上。 Ouster 擁有獨特的定位，在我們的 4 個垂直領域擁有合適的產品、更多的客戶、更多的用例和出色的產品市場契合度，從而在行業中佔據主導地位。

So now I'll turn it back to Angus.

所以現在我會把它轉回給安格斯。

Thanks, Anna. Before Q&A, I want to leave you with this thought. There's no other time in recent history, probably since the invention of the Internet, that so many disparate industries have been affected simultaneously by a single trend like autonomy. For any disruptive technology, there's a point in time when the right ingredients, technology, market, customers and ecosystem maturity are present to create the next Intel, NVIDIA, Google or Illumina.

謝謝，安娜。在問答之前，我想留給大家這個想法。在近代歷史上，可能是自互聯網發明以來，從未有過如此多不同的行業同時受到像自治這樣的單一趨勢的影響。對於任何顛覆性技術來說，總有一個時間點，當正確的成分、技術、市場、客戶和生態系統成熟度出現時，就會創造出下一個英特爾、NVIDIA、谷歌或 Illumina。

Ouster has a unique window into the future today through our work with over 500 different customers as they deploy solutions with our digital lidar to bring about greater and greater levels of autonomy. Ouster's digital platform is that right technology at that right point in time to bring about the autonomous revolution. We believe that our success today is just the beginning, as Ouster is really a bet on the macro trend of autonomy.

今天，Ouster 通過與 500 多家不同客戶的合作，為他們提供了通向未來的獨特窗口，幫助他們利用我們的數字激光雷達部署解決方案，以實現越來越高的自主性。 Ouster 的數字平台是在正確的時間點帶來自動化革命的正確技術。我們相信，我們今天的成功只是一個開始，因為Ouster實際上是對自動化宏觀趨勢的押注。

Ouster is here to build the world's best lidar technology, combine that hardware with software to provide solutions that power revolutionary applications across industry and leverage that advantage to become the world's first category-defining autonomy company.

Ouster 致力於打造世界上最好的激光雷達技術，將硬件與軟件相結合，提供為整個行業的革命性應用提供動力的解決方案，並利用這一優勢成為世界上第一家定義類別的自主公司。

I want to thank you all for joining us today. We're now ready to answer questions.

我要感謝大家今天加入我們。我們現在準備好回答問題了。

(Operator Instructions) And your first question comes from Itay Michaeli with Citi.

（操作員說明）您的第一個問題來自花旗銀行的 Itay Michaeli。

Congrats on the first earnings call. Maybe just to kick it off with -- just to clarify, on the 40 SCAs, is that 40 comparable to the 20 production contracts or so I think you reported back at the Investor Day? And I was hoping you could also comment just broadly on the overall customer funnel, I think the roughly 200 or so customers that were previously in the funnel and kind of how that's looking today.

祝賀第一次財報電話會議。也許只是為了開始——只是為了澄清，在 40 個 SCA 上，這 40 個是否與 20 個生產合同相當，我想你在投資者日報告了這一點？我希望您也能對整個客戶漏斗進行廣泛的評論，我認為之前在漏斗中的大約 200 名左右的客戶以及今天的情況。

Thanks for the question. So we get a lot of questions about the customers moving towards production in that funnel and customer counts in general. And we want to provide more transparency here, which is why we're using a vector called strategic customer agreements or that count that all encountered SCAs and because it's a much more stringent way of defining a customer that has reached a high level of maturity with Ouster. There's signed piece of paper. There's a contract associated with that customer. And so our customer base absolutely has continued to increase every quarter.

謝謝你的提問。因此，我們收到了很多關於該渠道中轉向生產的客戶以及總體客戶數量的問題。我們希望在這裡提供更高的透明度，這就是為什麼我們使用稱為戰略客戶協議的向量，或者將所有遇到的SCA 都算在內的原因，因為這是一種更嚴格的方式來定義已達到高成熟度的客戶驅逐者。有一張簽名紙。有一份與該客戶相關的合同。因此，我們的客戶群每個季度都在持續增長。

But we believe that SCAs are a much better metric because they talk less about the top of the funnel and instead provide that clarity on the customers that are moving towards production with these multiyear forecast negotiated pricing, clearly identified products and product SKUs and projects that are -- that those products are being used towards.

但我們認為 SCA 是一個更好的指標，因為它們較少談論漏斗的頂部，而是通過這些多年預測協商定價、明確識別的產品和產品 SKU 以及項目，為正在轉向生產的客戶提供清晰的信息。 ——這些產品的用途。

And so again, we have a clear definition that we've been repeating on what an SCA is. It's a higher bar we see than any one of our peers in the industry. And yes, they are -- those 40 SCAs are a superset of the 20 production wins that we had communicated back at the Investor Day. So this is a better metric, a more stringent version. I'm just saying that we have production wins.

再說一次，我們有一個明確的定義，我們一直在重複什麼是 SCA。我們看到的標準比業內任何同行都高。是的，它們是——這 40 個 SCA 是我們在投資者日傳達的 20 個生產勝利的超集。所以這是一個更好的指標，更嚴格的版本。我只是說我們取得了生產勝利。

Got it. That's very helpful, I guess. And then just on the L.3 chip, it sounds like you've made some progress there. Maybe it's early to ask this question, but any -- if you can share in terms of what you expect performance metrics to be, range and resolution, particularly as we kind of compare that to some of the recent kind of lidar introductions from some of the other players out there?

知道了。我想這很有幫助。然後就 L.3 芯片而言，聽起來您已經取得了一些進展。也許現在問這個問題還為時過早，但是如果您能分享一下您期望的性能指標、範圍和分辨率，特別是當我們將其與一些最近推出的激光雷達進行比較時，您可以分享一下嗎？那裡的其他球員呢？

Yes. I'm incredibly excited about this, the L.3 chip. It's been in development for the past year. It is a major advancement in the capabilities of this digital at our platform. We knew that exponential gains were going to continue to come. But I would say that the L.3 chip is one of the biggest exponential gains in raw performance of this technology to date. I think it's even bigger of a jump than our L.1 to L.2 chip.

是的。我對 L.3 芯片感到非常興奮。它在過去的一年裡一直在開發中。這是我們平台上數字功能的重大進步。我們知道指數級增長將繼續出現。但我想說的是，L.3 芯片是迄今為止該技術原始性能指數級增長最大的芯片之一。我認為它比我們的 L.1 到 L.2 芯片的跳躍更大。

As it relates to specifics on the performance criteria, that's something that we want to keep close to the chest as a competitive advantage. We're not going to pre-release specs on our products as a policy as a company. But I can tell you that it is the most significant jump in technology and capability to date at Ouster.

由於它與性能標準的具體細節相關，因此我們希望將其作為競爭優勢保留在胸前。作為一家公司，我們不會將預發布產品規格作為一項政策。但我可以告訴你，這是 Ouster 迄今為止在技術和能力方面最重大的飛躍。

That's great to hear. And then just lastly, I guess, you mentioned the sales force grew, I believe, 50% this quarter. Any target you can share in terms of kind of where you expect that to be by year-end?

聽到這個消息我很高興。最後，我想，您提到銷售隊伍在本季度增長了 50%。您可以分享一下您預計到年底的目標嗎？

Yes, I can help with that one. I think, as you know, we're guiding to revenue and gross margin. But I do think it's really important to point out that as we completed this merger transaction, we had about 160 employees, which is many fewer than our competitors. And so we feel we've been very efficient with the capital that we've deployed developing our business to date.

是的，我可以幫忙解決這個問題。我認為，如您所知，我們正在指導收入和毛利率。但我確實認為有必要指出，當我們完成這次合併交易時，我們擁有大約 160 名員工，這比我們的競爭對手要少得多。因此，我們認為迄今為止我們部署的用於發展業務的資本非常高效。

But that being said, I'm expecting to see a step-up in terms of operating expense as we go after the 3 initiatives that we talked about, both when we were doing the merger transaction with Colonnade and then again today, which is growing our sales and marketing team, investing in software and investing further in R&D to shorten chip cycle times. And so all of those initiatives with 160 employees, I think, you can model a pretty significant jump there ramping throughout this year as we're able to hire more folks to help us with those initiatives.

但話雖這麼說，我預計隨著我們討論的 3 項舉措的實施，運營費用會有所增加，無論是在我們與 Colonnade 進行合併交易時，還是在今天，運營費用都在增長我們的銷售和營銷團隊，投資軟件並進一步投資研發，以縮短芯片週期時間。因此，我認為，所有這些涉及 160 名員工的舉措，您可以模擬今年全年的大幅躍升，因為我們能夠僱用更多人員來幫助我們實施這些舉措。

I'd just point out -- no, I'd just point out that we're incredibly happy to have Nate Dickerman joining the team. What he's been able to build this kind of this concept of a commercial engine that has incredibly high throughput and efficiency is something that he applied that is passed physicians of Planet Labs, Autodesk and IBM. And he is the top commercial leader at Ouster and will be continuing on the momentum of hiring across all of our regions and allowing our teams to get more and more focused on the end use cases vertical-by-vertical to even be more specific and selective and targeted in how we sell. So incredibly pleased to have him. It's a very significant addition to our executive team.

我只是指出——不，我只是指出我們非常高興內特·迪克曼加入團隊。他能夠構建這種具有令人難以置信的高吞吐量和效率的商業引擎概念，他所應用的東西已經通過了 Planet Labs、Autodesk 和 IBM 的醫生的認可。他是 Ouster 的最高商業領導者，將繼續保持我們所有地區的招聘勢頭，讓我們的團隊越來越專注於逐個垂直的最終用例，甚至更加具體和有選擇性並針對我們的銷售方式。非常高興有他。這對我們的執行團隊來說是一個非常重要的補充。

Your next question comes from the line of Richard Shannon with Craig-Hallum.

你的下一個問題來自理查德·香農（Richard Shannon）和克雷格·哈勒姆（Craig-Hallum）的對話。

Well, great. Congratulations on your first conference call as a public company. Let's see, a couple of questions on the SCAs here. Maybe just a couple digging in here a little bit here. By the description in your press release, some of the revenues in here are binding versus forecasted. Can you give us a sense of how much of that kind of rough percentage of what is binding there?

嗯，太好了。祝賀您作為上市公司召開第一次電話會議。讓我們看看這裡有幾個關於 SCA 的問題。也許只有一對夫婦在這裡挖掘一下。根據你們新聞稿中的描述，這裡的一些收入是具有約束力的，而不是預測的。您能否讓我們了解一下那裡有約束力的粗略百分比有多少？

Sure.

當然。

Angus, are you going to take this one? Or do you want me to jump in?

安格斯，你要買這個嗎？還是你想讓我跳進去？

Yes. Let me just give the overview. So as a reminder, the vast majority of the terminology that we're using is contracted revenue opportunity, right, indicating that this is a nonbinding opportunity. There is binding component in all of these -- in some of these contracts, but not all. But the commitment is clearly defined through a multiyear forecast, again, which has -- in some cases, has a binding component, in some cases does not.

是的。讓我簡單概述一下。提醒一下，我們使用的絕大多數術語都是合同收入機會，這表明這是一個不具約束力的機會。所有這些合同中都有約束力——其中一些合同，但不是全部。但這一承諾是通過多年預測明確界定的，在某些情況下，具有約束力，在某些情況下則沒有。

And that's relatively standard for the automotive industry, the industrial industry, basically all the verticals that we serve. And it's really the commitment that is embodied in these contracts is really the multiyear process that is required to reach a volume production. So the certifications required and the investment on the customer side and on our side as governed by these relationships, that is the binding, I mean, that is the representation of the commitment from the customer and what is the sticky part of these.

對於汽車行業、工業行業，基本上是我們服務的所有垂直行業來說，這是相對標準的。這些合同中體現的承諾實際上是實現批量生產所需的多年過程。因此，所需的認證以及受這些關係約束的客戶方和我們方的投資，這就是約束力，我的意思是，這代表了客戶的承諾，以及其中的粘性部分。

Again, I think that is far more important than a binding component at this stage. And we expect that to remain the case for years to come, given that even major automakers' contracts are not binding commitments. When you enter an agreement for series production, there is a preproduction stage where there's commitment around the nonrecurring engineering required to reach series production. But the actual series production is a nonbinding commitment. And so we're just following that same framework with these SCAs.

同樣，我認為現階段這比綁定組件重要得多。鑑於即使是主要汽車製造商的合同也不具有約束力，我們預計這種情況在未來幾年仍將持續。當您簽訂批量生產協議時，有一個預生產階段，其中圍繞實現批量生產所需的一次性工程做出承諾。但實際的系列生產是一個不具約束力的承諾。因此，我們對這些 SCA 遵循相同的框架。

And I would just add to that -- and just this thing really quickly here, too, a little bit more detail, which is these SCAs, they're for specific product applications, and we don't then impute that we're going to win other products in the future with the same customer, though, of course, we may very well. These are situations where the customer is issuing purchase orders. So it's not a future thing that is not happening today. And we have agreed upon volume pricing. So we've negotiated pricing over a period of 3 to 5 years, depending on the term of the SCA.

我想補充一點——這件事也很快就在這裡，更詳細一點，這就是這些 SCA，它們用於特定的產品應用程序，然後我們不會推測我們將要當然，我們很可能會在未來為同一客戶贏得其他產品。這些是客戶發出採購訂單的情況。所以這不是今天不會發生的未來事情。我們已就批量定價達成一致。因此，我們協商了 3 到 5 年的定價，具體取決於 SCA 的期限。

And there are customer-driven forecasts for those 3 to 5 years that they'll be updating quarterly. And then on top of that, if the customer only gets a 3-year forecast, we did not impute any additional revenue from that customer in years 4 and 5. So obviously, we would expect that to come. What we're trying to do here is give you guys some insight into what's happening in our business now, not kind of a top of the funnel 5-year sort of view, but what's really happening in the business in the more immediate term.

並且有針對這 3 到 5 年的客戶驅動預測，他們將每季度更新一次。最重要的是，如果客戶只得到 3 年的預測，我們不會在第 4 年和第 5 年估算該客戶的任何額外收入。很明顯，我們預計會出現這種情況。我們在這裡試圖做的是讓大家深入了解我們業務現在正在發生的事情，而不是漏斗頂部的 5 年觀點，而是更近期內業務中真正發生的事情。

And I think this is a really good way of giving you guys a better feel for how customers are moving through the funnel and into production. And so we're really excited to be able to report this way.

我認為這是一種非常好的方式，可以讓你們更好地了解客戶如何通過渠道進入生產。因此，我們非常高興能夠以這種方式進行報導。

Okay. So that is helpful. Just another quick way to think about your SCA pipeline here. Any way that you can help us think about the end market contributions here? You already gave us some details both in the presentation as well as, Angus, in your prepared remarks here. So maybe I could probably guess it. But is there any way you'd help us to think about this?

好的。所以這很有幫助。這裡只是考慮 SCA 管道的另一種快速方法。您可以通過什麼方式幫助我們思考終端市場的貢獻嗎？安格斯，您已經在演講中以及您準備好的發言中向我們提供了一些詳細信息。所以也許我可以猜到。但你有什麼辦法可以幫助我們思考這個問題嗎？

And I think given the questions that I get about Ouster, particularly related to automotive, and I guess, I'd probably include long-haul trucking in that, any way you could characterize how much of that is -- what percentage is...

我認為考慮到我收到的有關 Ouster 的問題，特別是與汽車相關的問題，我想，我可能會將長途卡車運輸納入其中，無論你如何描述其中的多少——百分比是多少。 。

Yes. Yes, Richard, I think how we think about it is, last year, automotive was about 30% of our revenue. And so we expect that similarly this year, the nonautomotive markets are developing well. And so we expect that we'll continue to see more of our revenue in the next few years coming from the nonauto markets, but don't want to push your attention away from auto. I mean auto was 30% of our revenue last year. And as you saw in many of the anecdotal customer information that Angus gave in his script, we're performing really well in the auto space also.

是的。是的，理查德，我認為我們的想法是，去年，汽車業務約占我們收入的 30%。因此，我們預計今年非汽車市場也將發展良好。因此，我們預計未來幾年我們將繼續看到更多收入來自非汽車市場，但不想將您的注意力從汽車上轉移開。我的意思是去年汽車占我們收入的 30%。正如您在安格斯在他的腳本中提供的許多軼事客戶信息中看到的那樣，我們在汽車領域的表現也非常好。

To give a little more color there, I mean, basically, the SCAs, we're converting large numbers of our customer base to this contracted framework. And so we expect that the SCA contribution will mirror our revenue contribution by vertical. That is to say it's a roughly equal contribution by vertical to our revenue, and we expect that in our SCAs as well.

為了給那裡更多的色彩，我的意思是，基本上，SCA，我們正在將大量客戶群轉換為這個合同框架。因此，我們預計 SCA 的貢獻將反映我們垂直領域的收入貢獻。也就是說，這對我們的收入的垂直貢獻大致相等，我們預計在我們的 SCA 中也是如此。

Okay. Great. My last question here, and I may have missed the exact phrasing used in this. I know you talked about tripling the sensors. And I don't know if that was a demand or a capacity or supply commentary. So could you repeat that? And maybe I'll have a follow-up on that. Just want to make sure I'm getting that right.

好的。偉大的。我的最後一個問題，我可能錯過了其中使用的確切措辭。我知道你談到了將傳感器增加三倍。我不知道這是需求、產能還是供應的評論。你能再說一遍嗎？也許我會對此進行跟進。只是想確保我做對了。

I'm not sure what you're referring to in terms of tripling. If you're talking about capacity, like we saw a 60% increase in capacity in Q4. And we're growing our capacity in 2021 in line with our revenue needs, because obviously, we don't want to produce so much that we're kind of holding on to excess inventory. But I think the reason we gave that statistic was to give you confidence that we were able to produce the units with our outsourced manufacturer benchmark in Thailand that we need to produce to support the growth of our company.

我不確定你所說的三倍是指什麼。如果您談論的是容量，就像我們在第四季度看到容量增加了 60% 一樣。我們將根據收入需求在 2021 年擴大產能，因為顯然，我們不想生產太多，以至於持有過剩的庫存。但我認為我們提供該統計數據的原因是讓您相信我們能夠按照泰國的外包製造商基準生產我們需要生產的設備以支持我們公司的發展。

Yes. The tripling is the full year number. So you're correct. We're on track to triple sensor production for the full year to meet the demand versus the previous year.

是的。三倍是全年數字。所以你是對的。我們有望將全年傳感器產量增加三倍，以滿足與上一年相比的需求。

Your next question comes from the line of Blayne Curtis of Barclays.

你的下一個問題來自巴克萊銀行的布萊恩柯蒂斯。

I'll offer my congrats on your first quarter. Maybe first question, just curious, the last couple of quarters has been product revenue. I think long term, you're looking for a software component. I think maybe you had some service starting in the past. Maybe I was curious how you look at that software opportunity and when that might start to flow into the model.

我將對你的第一季度表示祝賀。也許第一個問題，只是好奇，過去幾個季度是產品收入。我認為從長遠來看，你正在尋找一個軟件組件。我想也許你過去就開始提供一些服務。也許我很好奇你如何看待這個軟件機會以及它什麼時候可能開始流入模型。

Absolutely. Well, it's already in -- the previous model that we provided is -- has a 25% software contribution by 2025. We see the software offerings contributing kind of gradually the time, linearly increasing the time. And that's just because we have so many end use cases and customers that we can go out and provide value-add software, too, that there's no single piece of software that we're planning on providing to the entire market.

絕對地。嗯，到 2025 年，我們提供的之前的模型已經有 25% 的軟件貢獻。我們看到軟件產品逐漸貢獻時間，線性增加時間。這只是因為我們有如此多的最終用例和客戶，我們也可以出去提供增值軟件，所以我們沒有計劃向整個市場提供任何一款軟件。

There's really 3 different areas whether it's developer tooling, middleware and intelligence capabilities or complete solutions. Those 3 buckets we're planning to offer to each one of our verticals eventually. And it's a linear ramp from nothing today to 25% in the future for that. So we previously provided that, and I hope that should answer your question. Anna, I don't know if you have anything else to add there.

實際上有 3 個不同的領域，無論是開發人員工具、中間件和智能功能還是完整的解決方案。我們計劃最終為每個垂直領域提供這 3 個類別。這是一個從現在什麼都沒有到未來 25% 的線性增長。我們之前提供了這一點，我希望這能回答您的問題。安娜，我不知道你還有什麼要補充的嗎？

No, I think you covered it. I mean, we did talk a bit about software as we went through the pipe process and (inaudible) those decks were, of course, put on the SEC filings, and I'm sure you've all seen them. So we're still planning to move forward with those projects, and they are budgeted in our OpEx for this year.

不，我想你已經涵蓋了。我的意思是，在我們完成管道流程時，我們確實討論了一些關於軟件的問題，並且（聽不清）這些甲板當然已提交給 SEC 文件，我相信你們都已經看到了它們。因此，我們仍然計劃推進這些項目，並且它們已列入我們今年的運營支出預算中。

I guess, I was just curious, if you like, in this fiscal year, whether you expect software is going to be a few years out before that starts to contribute.

我想，我只是好奇，如果你願意的話，在本財年，你是否期望軟件會在幾年後開始做出貢獻。

Yes, previously, we said ramping to 25%, with a nominal contribution this year. So we're thinking it will start to contribute next year.

是的，之前我們說過要增加到 25%，今年只是名義貢獻。所以我們認為它將在明年開始做出貢獻。

Got you. And then I just want to ask on the SCAs, a huge pickup between the end of 2020. And I was just kind of curious, the catalyst for that, was it just the timing of when the designs that you started to sign these agreements? Or was it kind of influenced by the stock process where you're now being a public company. Can you walk us through kind of why the SCAs have been kind of signed at such a pace for the last kind of quarter? And then as you look at the 500 customers, obviously, there's a pipeline here. I'm just kind of curious, think about just the pace of these signings as you move through the fiscal year.

明白你了。然後我只想問一下 SCA，這是 2020 年底之間的一個巨大的回升。我只是有點好奇，作為催化劑，這只是你們開始簽署這些協議的設計的時間嗎？或者是受到股票流程的影響，您現在是一家上市公司。您能否向我們介紹一下為什麼 SCA 在上個季度以如此快的速度簽署？然後當你查看 500 個客戶時，顯然，這裡有一個管道。我只是有點好奇，想想在整個財年中這些簽約的速度。

Sure. I cannot stress enough.

當然。我怎麼強調都不為過。

Yes. I think -- go ahead, Angus. I'll follow after you.

是的。我想——繼續吧，安格斯。我會追隨你。

I got it, yes. No, I can't stress enough how important this progress in SCAs is. We're really at a tipping point where we're starting to convert large numbers of our customers who have been with us, in some cases, for multiple years to these contract-based engagements. It's a major initiative that we've undertaken in the last basically 2 quarters. And again, I think it's owing to a number of different things why we're starting to see so much success.

我明白了，是的。不，我無法充分強調 SCA 的這一進展有多麼重要。我們確實正處於一個轉折點，我們開始將大量與我們合作（在某些情況下）多年的客戶轉變為這些基於合同的合作。這是我們在過去兩個季度採取的一項重大舉措。再說一次，我認為我們之所以開始取得如此巨大的成功，是由於許多不同的原因。

But I think there's momentum that we have in record -- the record revenue that we're having, the growing opportunity, customer counts and the improving product portfolio that we have versus our peers. So we're really poised to continue to accelerate that, putting those customers under contract.

但我認為我們擁有記錄在案的勢頭——與同行相比，我們擁有創紀錄的收入、不斷增長的機會、客戶數量以及不斷改進的產品組合。因此，我們確實準備好繼續加速這一進程，讓這些客戶簽訂合同。

But this is an initiative that we've started to undertake only recently. So the goal is to put existing customers under contract, some of which we've been engaged with for years, but now we have much, much better visibility and much more confidence and then remaining with us extremely sticky long term, while also pursuing new customers that we're engaging under contract. So this is a strategic addition or a strategic shift for how we work with customers on a go-forward basis. And -- yes.

但這是我們最近才開始採取的一項舉措。因此，我們的目標是與現有客戶簽訂合同，其中一些我們已經合作多年，但現在我們有了更好的可見性和更多的信心，然後與我們保持非常長期的粘性，同時也追求新的我們根據合同聘用的客戶。因此，這是我們與客戶未來合作方式的戰略補充或戰略轉變。是的。

Great. And then maybe just finally, if you could talk about the visibility you have maybe for the fiscal year, how far does that extend out? Obviously, the SCAs have some volumes. So I'm just kind of curious in terms of what your typical lead times are.

偉大的。最後，如果您能談談本財年的可見度，那麼這種可見度會持續多久？顯然，SCA 有一定的數量。所以我只是好奇你們的典型交貨時間是多少。

The -- is this a question on the lead time on seeing orders come in?

這是關於收到訂單的交貨時間的問題嗎？

What your lead times typically are and kind of where you're -- how far your order book extends out through this fiscal year?

您的交貨時間通常是多少以及您所處的位置 - 您的訂單簿在本財年持續了多長時間？

Sure. So lead times on shipping -- well, so I guess, in each of these SCAs, there is that minimum of 3-year forecast. And one of the requirements of putting a customer under contract is that they are indeed a customer, they have placed POs and received sensors. And so I would say, in every case, the customer -- these are already customers, they are already making sensor purchases, and we're seeing the benefit this year for sure. And I think in every case, there's volume ramp with time. But yes, the benefit is immediate.

當然。因此，運輸的交貨時間——嗯，所以我想，在每個 SCA 中，都有至少 3 年的預測。與客戶簽訂合同的要求之一是他們確實是客戶，他們已經下訂單並收到傳感器。所以我想說，在任何情況下，客戶——這些已經是客戶，他們已經在購買傳感器，我們今年肯定會看到好處。我認為在任何情況下，銷量都會隨著時間的推移而增加。但是，是的，好處是立竿見影的。

Your next question comes from the line of Tristan Gerra with Robert W. Baird.

你的下一個問題來自 Tristan Gerra 和 Robert W. Baird 的對話。

This is Dustin online for Tristan. To go back on the customer agreements, I'm wondering how exclusive most of your multiyear broader agreements are. And does the exclusivity differ depending on the end markets you serve, specifically in the case of trucking, I think as both you and a competitor have mentioned agreements with Daimler? And then I have a follow-up.

我是特里斯坦的達斯汀在線。回到客戶協議，我想知道你們的大多數多年期更廣泛協議的排他性如何。排他性是否會根據您所服務的終端市場而有所不同，特別是在卡車運輸的情況下，我認為您和競爭對手都提到了與戴姆勒的協議？然後我有一個後續行動。

Yes. And tackling that last part first, I think that, that highlights -- in the case of Daimler highlights the fact that there is -- there are multiple lidar sensors that are needed across wide swaths of our customer base. And we are able to, unlike any other lidar provider, offer that -- the most complete set of lidar sensors to the market to hit the most needs and use cases. So in the case of Daimler, yes, we're providing some of the lidar sensors, not all of the lidar sensors. But a customer like Plus, we are providing every lidar sensor on their robotrucking truck.

是的。我認為，首先解決最後一部分，這突出表明——就戴姆勒而言，突出了這樣一個事實——我們廣大的客戶群需要多個激光雷達傳感器。與任何其他激光雷達提供商不同，我們能夠向市場提供最完整的激光雷達傳感器，以滿足大多數需求和用例。因此，就戴姆勒而言，是的，我們提供一些激光雷達傳感器，而不是全部激光雷達傳感器。但對於像 Plus 這樣的客戶，我們為他們的機器人卡車提供每個激光雷達傳感器。

And so -- and I would say that, that lidar example is more the rule than the exception. We commonly inhabit the majority, if not all, of the lidar sensors on the customers' platforms. Another great example, May Mobility with 4 lidar sensors on their vehicle. So exclusivity is built into some SCAs, but it is not a requirement for us to sign an SCA with a customer. But in cases where there is exclusivity, perhaps we're achieving that through some sort of agreement on the pricing or other terms that lock in that customer.

所以——我想說，激光雷達的例子更多的是規則而不是例外。我們通常使用客戶平台上的大多數（如果不是全部）激光雷達傳感器。另一個很好的例子，May Mobility 在其車輛上配備了 4 個激光雷達傳感器。因此，某些 SCA 中內置了排他性，但這並不是我們與客戶簽署 SCA 的要求。但在存在排他性的情況下，也許我們是通過就鎖定該客戶的定價或其他條款達成某種協議來實現這一點的。

So it's an option but not a requirement. But again, merely qualifying our sensors, being the first mover in the space with sensors that hit the real needs of a production deployment, for instance, like with Plus, where we have the best, most reliable, highest resolution and most affordable sensors for that use case, they are moving forward with us as a first mover, qualifying that system over the course of multiple years.

所以這是一個選擇，但不是必需的。但同樣，這只是對我們的傳感器進行資格認證，成為該領域的先行者，其傳感器能夠滿足生產部署的實際需求，例如，像Plus 一樣，我們擁有最好、最可靠、最高分辨率和最實惠的傳感器在這個用例中，他們作為先行者與我們一起前進，在多年的過程中驗證了該系統的資格。

In their case, they've been running our sensors for over a year now. So there's a massive amount of inertia and momentum at these customers to qualify our sensors and not others. So there's a real barrier to entry there and, I think, stickiness that despite the fact that in some cases, there is not exclusivity per se.

就他們而言，他們已經運行我們的傳感器一年多了。因此，這些客戶有巨大的慣性和動力來驗證我們的傳感器，而不是其他傳感器。因此，進入那裡確實存在障礙，而且我認為，儘管事實上在某些情況下，本身並不具有排他性，但粘性仍然存在。

Got it. That makes sense. And my follow-up, I understand your ES2 solid sensor is still in development. But how have you guys been sourcing customer interest for that sensor before volume production in 2023?

知道了。這就說得通了。我的後續行動是，我了解到你們的 ES2 固體傳感器仍在開發中。但是，在 2023 年量產之前，你們是如何吸引客戶對該傳感器的興趣的呢？

Yes. I mean -- I think it's not difficult to find customer interest. The entire automotive industry is based on this premise, this need for multiple sensors -- multiple solid-state sensors around the vehicle, I mean. I gave an example in the remarks that we receive RFQs from automakers for short-, medium- and long-range lidar. There is an inherent need for those 3 types of lidar sensors, and only a solid-state digital lidar can actually address the 3 different -- the varying needs of those 3 different types, et cetera, simultaneously. So it's virtually unanimous consent in automotive that, that multi-sensor suite is required. And we see it there.

是的。我的意思是——我認為找到客戶的興趣並不難。整個汽車行業都基於這個前提，即需要多個傳感器——我的意思是車輛周圍有多個固態傳感器。我在發言中舉了一個例子，我們收到了來自汽車製造商的短程、中程和遠程激光雷達的詢價。對這 3 種類型的激光雷達傳感器存在固有的需求，並且只有固態數字激光雷達才能真正同時滿足這 3 種不同的需求——這 3 種不同類型的不同需求，等等。因此，汽車行業幾乎一致同意需要多傳感器套件。我們在那裡看到了它。

I mean another example being the Goldman Sachs report that we referenced, saying -- predicting that by 2025, 20 million cars effectively will require 3 to 6 lidar sensors each on those vehicles, again, just highlighting the multi-sensor need of the industry. So there's an immense focus on sourcing multiple different lidar sensors. And we're in contact with all of these potential customers on that basis, given how consolidated the auto industry is.

我的意思是另一個例子，我們引用的高盛報告稱，預測到2025 年，2000 萬輛汽車實際上將需要每輛車配備3 到6 個激光雷達傳感器，這再次強調了該行業的多傳感器需求。因此，人們非常關注採購多種不同的激光雷達傳感器。考慮到汽車行業的整合程度，我們在此基礎上與所有這些潛在客戶進行聯繫。

Your next question comes from the line of Joseph Osha with Guggenheim Partners.

您的下一個問題來自約瑟夫·奧沙（Joseph Osha）和古根海姆合夥人公司（Guggenheim Partners）。

Just a couple of questions. Just following on from the previous one. Can we assume that these 40 SCAs and the $385 million consists largely of spinners? And then anything that comes out of a different architecture kind of has yet to show up in that SCA number? Is that a fair assumption?

只是幾個問題。只是繼上一篇之後。我們能否假設這 40 個 SCA 和 3.85 億美元主要由紡紗廠組成？那麼來自不同架構類型的任何內容還沒有出現在該 SCA 編號中嗎？這是一個公平的假設嗎？

That's absolutely right. Because again, one of the requirements is that these are current customers, they have purchased sensors and received those sensors. So only for products that we have in hand, yes.

這是絕對正確的。因為同樣，要求之一是這些是當前客戶，他們已經購買了傳感器並收到了這些傳感器。因此，僅適用於我們手頭的產品，是的。

Okay. Got it. Now to shift gears a bit, obviously, it's not a very good environment for people trying to source integrated circuits. I'm wondering how that process has been for you on the CMOS part? And then also, I know you've probably got some other power ICs in the spinner. So I'm just wondering if you can comment on how that process has been?

好的。知道了。現在稍微換個話題，顯然，對於試圖採購集成電路的人來說，這不是一個很好的環境。我想知道您在 CMOS 部分的流程如何？另外，我知道旋轉器中可能還有其他一些電源 IC。所以我想知道您是否可以評論一下這個過程是怎樣的？

Yes, for sure. I'm getting this question all the time. And I think, first of all, I'm -- I have the weekly meetings to track the supply chain for the balance of system. But importantly, we produce our core chips. The lidar chipset is a fully custom design, and we have a lot of control over that supply chain, and we hold safety stock in wafers. So I don't foresee any issue with sourcing the core components of VCSELs, the SoC for our devices.

是肯定的。我一直收到這個問題。我認為，首先，我每週都會召開會議來跟踪供應鏈以實現系統平衡。但重要的是，我們生產我們的核心芯片。激光雷達芯片組是完全定制的設計，我們對該供應鏈有很大的控制權，並且我們持有晶圓的安全庫存。因此，我預計 VCSEL 的核心組件（我們設備的 SoC）的採購不會出現任何問題。

On the balance of system, there's much more competition, there's actual competition for those parts. But we hold weekly meetings, making sure that we have continuity of supply. And we don't foresee any problem with a lack of supply and ability to ship to our targets this year. So it's absolutely -- I mean it's something of immense focus internally for the company. But at this point, we don't foresee any issue in the supply chain, yes.

在系統的平衡方面，存在更多的競爭，這些部分存在實際的競爭。但我們每週舉行一次會議，確保供應的連續性。我們預計今年不會出現供應不足和運送能力不足的問題。所以這絕對是——我的意思是這是公司內部非常關注的事情。但目前，我們預計供應鏈不會出現任何問題，是的。

Okay. And that would extend to, I assume, as you [rose], the SoC, you're probably also moving to different design rules and that, obviously, things are tight there. So as you look forward, are there are any challenges on that front? You try and drive -- I don't know what design robot parts are on-, off-hand.

好的。我認為，當你[上升] SoC 時，這將延伸到你可能也會轉向不同的設計規則，而且顯然，那裡的事情很緊張。那麼展望未來，這方面是否存在任何挑戰？你嘗試駕駛——我不知道機器人零件的設計是什麼，手頭的、副手的。

Yes. The only challenge there would be time -- fab loading impacting production time line. So it's not that we wouldn't be able to produce the chips, but just that it would take longer to produce the chips if a particular fab is loaded. So far, we haven't seen that. We're not going to beat our -- we're certainly not going to beat our time lines, but we're still tracking to our time lines for our product rollouts. But yes, yes, that is certainly a concern of fab loading or to get higher than we could be delayed in a product rollout -- a new product rollout.

是的。唯一的挑戰是時間——晶圓廠的負荷會影響生產時間線。因此，並不是我們無法生產芯片，而是如果某個特定的晶圓廠負荷增加，生產芯片的時間就會更長。到目前為止，我們還沒有看到這一點。我們不會超越我們的——我們當然不會超越我們的時間表，但我們仍在跟踪產品推出的時間表。但是，是的，是的，這肯定是晶圓廠負荷的問題，或者超出了我們在產品推出（新產品推出）中可能被推遲的程度。

Sure. Sure. That certainly makes sense. And then Anna made an interesting comment. I'll let either of you respond to the observation that you want to keep your sort of strategic options open without tipping your hand too much. Are there any particular skill sets or things that you see that might be desirable as you look around the market, liquid crystal metasurface or something, I'm just curious.

當然。當然。這當然有道理。然後安娜發表了有趣的評論。我會讓你們中的任何一個人回應這樣的觀察：你們希望保持自己的戰略選擇開放，而又不想過度傾斜。當您環顧市場時，是否有任何特定的技能或您認為可能需要的東西，例如液晶超表面或其他東西，我只是很好奇。

Yes. Before Angus answers the question on what he might find desirable, I just want to throw out there we do not currently have anything contemplated. That comment was not to give you guys a tip. It was more just in the light of letting you all know that we think we have enough cash on hand to get to our EBITDA breakeven point. But with that being said, I'll turn it over to Angus to answer the question of if there was something that he had a desire to add to our team, what would it be.

是的。在安格斯回答他可能認為什麼是理想的問題之前，我只想拋出我們目前沒有任何考慮的事情。該評論並不是為了給你們提示。更重要的是讓大家知道我們認為我們手頭有足夠的現金來達到 EBITDA 盈虧平衡點。但話雖如此，我將把它交給安格斯來回答這個問題：如果他希望為我們的團隊添加一些東西，那會是什麼。

Yes. I think if there were an opportunity, I would -- as a precondition, you need to be small, high-performing teams. We're not looking to merge with a major -- with some large company or anything like that. And I would say that we're very confident in our hardware road map and our technology set and do not feel the need to augment our hardware road map with additional IP or different product lines or technology.

是的。我想如果有機會的話，我會——作為先決條件，你需要是小而高績效的團隊。我們不打算與一家大型公司或類似的公司合併。我想說，我們對我們的硬件路線圖和技術集非常有信心，並且認為不需要通過額外的 IP 或不同的產品線或技術來增強我們的硬件路線圖。

We think -- we truly think we can address all of the market needs with a digital lidar platform that we already have commercialized. So anything that we would do in the space would be more focused on kind of the ecosystem, kind of peripheral capabilities that we could offer alongside the digital lidar hardware that we're providing today.

我們認為——我們確實認為我們可以通過我們已經商業化的數字激光雷達平台來滿足所有市場需求。因此，我們在該領域所做的任何事情都將更加關註生態系統，以及我們可以與我們今天提供的數字激光雷達硬件一起提供的外圍功能。

Your next question comes from the line of Michael Filatov with Berenberg.

你的下一個問題來自邁克爾·菲拉托夫（Michael Filatov）和貝倫貝格（Berenberg）的對話。

Just got actually 2 questions. One quick one, on the noncontact slip ring that you guys use, do you have a patent on that? And if so, I'm kind of curious, does anybody else in the industry currently use something similar?

實際上只是有 2 個問題。快速問一下，你們使用的非接觸式滑環，你們有專利嗎？如果是這樣，我很好奇，業內其他人目前是否使用類似的東西？

We do have a patent on that. And I think that, that highlights the fact that we have over 30 brands of patents today, over 100 pending worldwide. We file very broadly internationally. And we have over 20 different intervention families, one of which is around noncontact slip ring technology, which is the technology that allows a rotating system to be incredibly high reliability and low cost.

我們確實擁有這方面的專利。我認為，這凸顯了這樣一個事實：我們目前擁有 30 多個品牌的專利，其中全球有 100 多項正在申請專利。我們的申請範圍非常廣泛。我們有 20 多個不同的干預系列，其中之一是非接觸式滑環技術，該技術使旋轉系統具有令人難以置信的高可靠性和低成本。

And it's things like that, that have led, I think, us to have one of the leading patent portfolios in the industry, because we file extremely broadly. And we thought about some of these things that are maybe overlooked by our competitors early on, filed at all early and have had immense kind of success in getting these patents granted.

我認為正是這樣的事情使我們擁有了業內領先的專利組合之一，因為我們申請的範圍非常廣泛。我們很早就考慮了其中一些可能被我們的競爭對手忽視的事情，很早就提出了申請，並在獲得這些專利方面取得了巨大的成功。

So -- and I think there was an interesting report from Patent-Insights, which you can find online, that highlighted that Ouster has one of the most strategic and comprehensive patent portfolios of any lidar manufacturer in the industry today. So I encourage you all to search the Patent-Insights lidar report that they just released a couple of months ago as it highlights exactly what I'm saying.

因此，我認為 Patent-Insights 有一份有趣的報告（您可以在網上找到），其中強調 Ouster 擁有當今業界激光雷達製造商中最具戰略性和最全面的專利組合之一。因此，我鼓勵大家搜索他們幾個月前剛剛發布的 Patent-Insights 激光雷達報告，因為它準確地強調了我所說的內容。

Great. And just one follow-up because you've mentioned a couple of times in the call. I hear you that OEMs like to source sort of multiple sensors within a modality, right, long range, short range medium range. But I suppose in my experience and the OEMs I'm talking to, it tends to be -- the concept seems to be 1 long-range forward-facing lidar for Level 3 or maybe even L2 Plus, but never multiple lidar sensors surround you. Generally, it relies on cameras and radar.

偉大的。只是一次後續行動，因為您在電話中多次提到。我聽說原始設備製造商喜歡在一種模式中採購多種傳感器，右、長距離、短距離、中距離。但我想根據我的經驗和與我交談的原始設備製造商，它的概念似乎是 1 個用於 3 級甚至 L2 Plus 的遠程前向激光雷達，但從來沒有多個激光雷達傳感器圍繞著你。一般來說，它依賴於攝像頭和雷達。

So I'm curious, I know that there's a trade-off, particularly with your sequential flash lidar of range and field of view, right? So if you were to get sort of forward long range -- provide a forward long-range lidar sensor, which you have to have multiple of your lidar sensors, how many would be for forward long-range optic detection? And then how many would you have surrounding the vehicle?

所以我很好奇，我知道這是一個權衡，特別是對於範圍和視場的順序閃光激光雷達，對嗎？因此，如果您想要獲得某種前向遠程 - 提供一個前向遠程激光雷達傳感器，您必須擁有多個激光雷達傳感器，那麼需要多少個用於前向遠程光學檢測？那麼你的車輛周圍會有多少人呢？

Yes. So we absolutely believe that we need just one forward-looking long-range lidar, which again highlights the point that there is more volume to be had, more opportunity if you can supply the entire system, given how many other lidar sensors we expect and I think others expect there to be on a vehicle. I think it's not true that automakers are only sourcing vehicles with the forward-looking lidar and cameras. I think what you're seeing is that, that is a limited L3 system.

是的。因此，我們絕對相信我們只需要一個前瞻性的遠程激光雷達，這再次強調了這一點，即考慮到我們期望有多少其他激光雷達傳感器，如果您可以提供整個系統，則可以擁有更多的數量和更多的機會。我認為其他人希望它出現在車輛上。我認為汽車製造商只採購配備前瞻性激光雷達和攝像頭的車輛是不正確的。我認為您所看到的是，這是一個有限的 L3 系統。

So there may be initial L3 systems where the car is only capable of providing 4 direction L3 capabilities, basically following a car and not making any turns or lane changes or maneuvers. And so what we're highlighting is that in order to achieve the full suite of L2 capabilities between hands-free and hands-free driving, including making lane changes, moving through stop signs, merging and exiting a highway and making any turn or movement that isn't in the forward direction, you must have redundant lidar sensors positioned around the vehicle to look in the direction that you want to travel.

因此，在最初的 L3 系統中，汽車只能提供 4 個方向的 L3 功能，基本上是跟隨汽車，而不進行任何轉彎、變道或操縱。因此，我們強調的是，為了實現免提和免提駕駛之間的全套 L2 功能，包括變道、通過停車標誌、併入和駛出高速公路以及進行任何轉彎或移動如果不是在前進方向，您必須在車輛周圍放置冗餘激光雷達傳感器，以觀察您想要行駛的方向。

And so that's where we're differentiating is being able to provide that complete suite of lidar sensors, not to mention that we're offering it at a fundamentally lower price point than our competitors, just looking at us offering a complete suite for $1,000 when our competitors are talking about a single forward-looking lidar for $1,000. So entering the market fundamentally at lower price points, we're not saying we're not going to build a forward-looking high-performance lidar, that's absolutely part of the suite, but it's just one of -- it's a minority of the total opportunity.

因此，我們的差異化之處在於能夠提供整套激光雷達傳感器，更不用說我們以比競爭對手低得多的價格提供它，只要看看我們以 1,000 美元的價格提供整套激光雷達傳感器即可。我們的競爭對手正在談論售價1,000 美元的單一前瞻性激光雷達。因此，從根本上以較低的價格進入市場，我們並不是說我們不會構建前瞻性的高性能激光雷達，這絕對是該套件的一部分，但它只是其中之一- 它只是其中的一小部分。總的機會。

Sure. And sorry, just one quick follow-up. I mean I believe it was referenced before as well. Daimler, for instance, you have multiple lidars on sort of that program -- trucking program. And I assume the other reference is Luminar for forward-facing long-range sensor. But I'm curious on Plus.ai, for instance, you said you're basically the only lidar supplier. For the forward-facing lidar long-range optic detection, what is the range that you're achieving for that particular program? And what's the trade-off of the field of view?

當然。抱歉，我只是快速跟進一下。我的意思是我相信它之前也被引用過。例如，戴姆勒在該項目（卡車運輸項目）上有多個激光雷達。我假設另一個參考是用於前向遠程傳感器的 Luminar。但我對Plus.ai很好奇，比如你說你基本上是唯一的激光雷達供應商。對於前向激光雷達遠程光學檢測，您為該特定程序實現的範圍是多少？視野的權衡是什麼？

Well, that's a great example actually because in that case, and you can watch the Plus video that we released on the YouTube that's probably available, where they talk about it being more challenging, the fast lane-change maneuvers and merging and exiting are more challenging in their use case than the forward-looking long-range application, where they feel they can use only cameras and radar and don't need necessarily a long-range lidar.

嗯，這實際上是一個很好的例子，因為在這種情況下，您可以觀看我們在YouTube 上發布的Plus 視頻，該視頻可能可用，他們在那裡談論它更具挑戰性，快速變道操作以及合併和退出更具挑戰性在他們的用例中比前瞻性遠程應用更具挑戰性，他們認為他們只能使用攝像頭和雷達，不一定需要遠程激光雷達。

So they view the lidar -- the wider field-of-view lidars that are mounted on the sides of the vehicle that are protecting against fast lane-change maneuvers and cars kind of side swiping and things like that, those are more critical, and it's a harder challenge for a large vehicle like a semi. The semi has so much forward momentum that a long-range lidar is not really going to provide the benefit that, to me, they need to see much, much further and feel that they can do it with cameras and radar and that they have to solve that and view it as an easier challenge than the fast sideswipe maneuvers.

因此，他們關注的是激光雷達——安裝在車輛側面的更寬視場激光雷達，可以防止快速變道操作和汽車側滑等，這些更為關鍵，並且對於半掛車這樣的大型車輛來說，這是一個更艱鉅的挑戰。半掛車有如此大的前進動力，以至於遠程激光雷達並不能真正提供這樣的好處，對我來說，他們需要看得更遠，並覺得他們可以用攝像頭和雷達做到這一點，並且他們必須解決這個問題並將其視為比快速側滑操作更容易的挑戰。

So just highlighting that a customer that's truly moving into production has a very different view of what the hard challenges are after literally years of on-road testing.

因此，我想強調的是，真正投入生產的客戶在經過多年的道路測試後，對面臨的嚴峻挑戰有著截然不同的看法。

And your last question comes from Jay Van Sciver with Hedgeeye.

你的最後一個問題來自 Hedgeeye 的 Jay Van Sciver。

I'm wondering, can you give us the time line for a customer coming into Ouster, say, like RFP to getting one of these SCAs signed to actual revenue recognition? And how much of that growth is just limited by the size of your sales force?

我想知道，您能否給我們一個客戶進入 Ouster 的時間表，例如 RFP，讓這些 SCA 之一簽署實際收入確認？其中有多少增長僅受到銷售人員規模的限制？

Yes. So the time -- so at the point that we've signed an SCA, a precondition is that we have generated -- our customers generate revenue. We have shipped, they placed a PO and received the sensor. We are not going to report on any -- we're not going to count any customer as under SCA if they're not truly a customer where we have shipped a sensor and, by that condition, we have generated revenue.

是的。因此，當我們簽署 SCA 時，先決條件是我們已經創造了——我們的客戶創造了收入。我們已經發貨，他們下了採購訂單並收到了傳感器。我們不會報告任何客戶——如果任何客戶不是我們運送傳感器的真正客戶，並且在這種情況下，我們已經產生了收入，那麼我們不會將任何客戶計入 SCA。

That time, I would say, spans anywhere from 3 months to 18 months, with probably the average being somewhere between 6 to 12 months. And Plus is another great example here where they had our systems -- our sensors on their system for 12 months approximately before moving forward with an SCA.

我想說，這個時間跨度從 3 個月到 18 個月不等，平均可能在 6 到 12 個月之間。 Plus 是另一個很好的例子，他們在使用我們的系統（我們的傳感器）大約 12 個月後才繼續使用 SCA。

But I would say that back to this concept, we really are at a tipping point where more and more customers are willing to commit to our platform because of the maturity of our products, the benefits of our products and the confidence they have in us as a public company with a significant balance sheet at this point. And I think we're just at a tipping point where maybe we'll see those time lines shortening from 6 months to a year to maybe 3 to 6 months going forward.

但我想說，回到這個概念，我們確實正處於一個轉折點，越來越多的客戶願意致力於我們的平台，因為我們產品的成熟度、我們產品的優勢以及他們對我們的信心目前擁有大量資產負債表的上市公司。我認為我們正處於一個轉折點，也許我們會看到這些時間線從 6 個月縮短到一年，然後縮短到 3 到 6 個月。

And I would now like to turn the call back over to Angus Pacala for closing remarks.

現在我想將電話轉回給安格斯·帕卡拉 (Angus Pacala) 作結束語。

Thanks. Well, I just wanted to thank everyone, our employees, customers and shareholders who are on this journey with us. We're excited to be a public company, and we look forward to providing the market with timely and transparent updates about the state of our business. And we appreciate everyone that joined us for the call.

謝謝。嗯，我只是想感謝與我們一起踏上這段旅程的每一個人，我們的員工、客戶和股東。我們很高興成為一家上市公司，我們期待向市場提供及時、透明的有關我們業務狀況的最新信息。我們感謝所有加入我們電話會議的人。

Thank you for participating. This concludes today's conference call. You may now disconnect.

感謝您的參與。今天的電話會議到此結束。您現在可以斷開連接。