The lidar maker expanded its manufacturing partnership with Benchmark Electronics, which will support production of Ouster's next-generation Rev8 OS lidar sensors.
- Ouster claims its new Rev8 OS sensors are the world’s first patented native color lidar sensors.
- Ouster will leverage Benchmark’s highly automated factory line, which can ramp up production to meet commercial needs.
- Benchmark, which has a strong presence in the United States and Europe, boasts a broad manufacturing network of 20 facilities across eight countries.
Shares of Ouster Inc. (OUST) surged on Monday after the company announced the expansion of its existing manufacturing pact with Benchmark Electronics (BHE).
At the time of writing, OUST stock was up more than 7% premarket and was among the top ten trending tickers on Stocktwits.
The Partnership In Focus
The companies expanded their long-term partnership to support the production of Ouster’s new Rev8 OS family of lidar sensors, which are used for industrial, robotics, automotive, and smart infrastructure applications.
Ouster claims its new sensors, announced last month, feature “the world’s first patented native color lidar sensors” and provide up to twice the range and resolution of its previous generation of products.
Strong Manufacturing Partner
Ouster will leverage Benchmark’s highly automated factory line, which can ramp up production to meet commercial needs, as well as its precision tools and expertise in manufacturing microelectronics and optical components.
The company said Benchmark, which has a strong presence in the United States and Europe, boasts a broad manufacturing network of 20 facilities across eight countries and can easily produce more than 100,000 units per year.
“Benchmark has been a foundational partner in Ouster’s growth story and the natural fit to scale manufacturing for our breakthrough Rev8 sensors," said Darien Spencer, Chief Operating Officer at Ouster. "Through our well-honed supply chain ecosystem, our customers can be confident in our ability to reliably deliver the most advanced, cybersecure, and functionally safe native color lidar sensors at high volume to support their long-term programs.”
The financial details of the expanded manufacturing agreement were not publicly disclosed by the companies.
What Do Retail Traders Think About OUST?
On Stocktwits, retail sentiment about the OUST stock remained in ‘extremely bearish’ territory over the past 24 hours.
One bullish user on the platform calls the stock a great long-term hold.
View this Stocktwits post
OUST stock has surged 84% so far this year and has more than doubled in value over the last 12 months, outperforming the S&P 500.
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