Colonnade Acquisition Corp. (NYSE: CLN) and Ouster Inc. disclosed the financial results of Ouster Inc. The yearly revenue of Ouster stood at $18.9 million and the Q4 revenue stood at $6.4 million. Its Gross margin rose during the whole year, ending with a Q4 2020 gross margin of 31%.
Earlier in December, Ouster signed a complete merger accord with Colonnade Acquisition Corp. in a deal that would lead to Ouster being included in the trading on the NYSE. The firms are scheduled to hold the virtual investor meeting on February 22, 2021.
Ouster revealed that it has gained 100 new clients in Q4 and Q4 lidar production rose 61% over the previous quarter. Moreover, Ouster is well placed to fulfill the current and future request due to its contract making capacity, which significantly moves up assembly levels in Q4 2020.
Furthermore, Ouster has also provided operational highlights. In 2020, it has enhanced its manufacturing capability and also decreased the cost. The firm has achieved manufacturing capability by moving the bulk of its production capacity to contract production associate Benchmark Electronics in Thailand.
It has also revealed the preliminary results of Q4 of 2020 and the complete year of 2020. Ouster uncovered that its Gross profit was $2.0 million for Q4 2020 and $1.5 million for the complete year 2020, For Q4 2020 Gross profit margin remained 31% the entire year 2020 it was 8%. Moreover, its Adjusted EBITDA for Q4 2020 stood at $8.9 million and $36 million for the complete year 2020.
The administration of Ouster is intending to share the entire business performance after the possible merger. The above-mentioned primary financial data for the quarter and year finished December 31, 2020, is dependent on the execution of quarter processes of Ouster and further financial analysis and symbolizes Ouster’s existing predictions as to what it will present for such sector.