Ouster, Inc. (NYSE:OUST) Q4 2023 Earnings Call Transcript

Kevin Garrigan: Yes, no, that makes sense. Okay, perfect. And just as a follow-up, as you kind of look back at 2023 and then looking forward to 2024, did the rate of customers looking to become more autonomous and adopt lidar in whether it’s a smart infrastructure or warehouses or robotics, did that kind of play out as you thought it would in 2023? And do you see that rate kind of accelerating in 2024?

Angus Pacala: Absolutely. And I was going to save this remark for the end, but I think it’s appropriate now. For those of you that tuned into Jensen Huang, CEO of NVIDIA’s presentation at GTC last week, he said it extremely well. He said everything that moves in the future will be robotic. And increasingly, lidar sensors are what’s giving those machines the eyesight, and that is an immense tailwind for our business in 2024 and beyond. Robotics is already one of our key markets. And so, we think that we are extremely well poised to capture the increased focus on automation and autonomy across a diversity of end markets. And things like the advancements in AI, the availability of performance and affordable AI chips and co-processors is the perfect complement to our business. So, we absolutely think that we’re taking advantage of those trends, given that we focus from the start on being a diversified customer that is playing in these adjacent industries to automotive.

Kevin Garrigan: Yes, no. That makes a ton of sense. Yes, I completely agree. Okay, perfect. I appreciate the detail. Thanks, guys.

Operator: This concludes the question-and-answer session. I’ll turn the call to Angus Pacala for closing remarks.

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

Operator: This concludes today’s conference call. We thank you for joining. You may now disconnect your lines.