Ouster, Inc. (NASDAQ:OUST) shares are trading higher on Wednesday. The company on Tuesday disclosed that Indra selected its 3D digital lidar sensors for global electronic toll collection projects.
• Ouster stock is building positive momentum. Why are OUST shares climbing?
Details
The company has already deployed hundreds of Rev7 sensors across the Americas and Europe.
Indra has completed more than 2,500 mobility projects across over 50 countries, while its tolling systems cover more than 3,300 lanes and handle five million trips daily.
Ouster’s Rev7 sensors replace legacy 2D lidar with 360-degree, long-range detection, wider lane coverage and high-resolution vehicle measurements.
The rugged sensors are designed to perform in challenging weather and lighting conditions and comply with Build America, Buy America Act requirements.
The companies are also evaluating next-generation Rev8 capabilities, including 3D native color sensing and advanced detection for high-speed, multi-lane, free-flow tolling applications.
Earnings Snapshot
Last week, Ouster reported better-than-expected third-quarter results. Revenue reached $59.33 million, beating Wall Street’s estimate of $56.27 million. The company reported a loss of 20 cents per share, narrower than the expected loss of 24 cents.
Ouster expects fourth-quarter revenue of $61 million to $64 million, compared with the analyst consensus of $62.03 million.
OUST Stock Price Activity: Ouster shares were up 2.88% at $39.32 at publication on Wednesday.
Photo: Global Electronic Toll Collection Project, courtesy Ouster
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