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Side-by-side financial comparison of Ouster, Inc. (OUST) and Owlet, Inc. (OWLT). Click either name above to swap in a different company.
Ouster, Inc. is the larger business by last-quarter revenue ($48.6M vs $26.6M, roughly 1.8× Owlet, Inc.). Ouster, Inc. runs the higher net margin — 8.2% vs -34.6%, a 42.8% gap on every dollar of revenue. On growth, Ouster, Inc. posted the faster year-over-year revenue change (48.9% vs 29.6%). Over the past eight quarters, Owlet, Inc.'s revenue compounded faster (34.2% CAGR vs 34.2%).
Ouster, Inc. is an American lidar technology company headquartered in San Francisco, California. It builds high-resolution, digital 3D lidar sensors for use in autonomous vehicles, industrial, robotics, drones, mapping, defense, and security systems.
Owlet, Inc. is a pediatric health technology firm that develops smart wearable monitoring products for infants, most notably its signature smart sock that tracks real-time heart rate, oxygen levels, and sleep metrics. It serves global consumer markets across North America, Europe, and Asia-Pacific, distributing products via direct-to-consumer e-commerce and partnered retail outlets, focused on supporting parental peace of mind and infant health safety.
OUST vs OWLT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $48.6M | $26.6M |
| Net Profit | $4.0M | $-9.2M |
| Gross Margin | 42.9% | 47.6% |
| Operating Margin | 17.6% | -18.4% |
| Net Margin | 8.2% | -34.6% |
| Revenue YoY | 48.9% | 29.6% |
| Net Profit YoY | — | -1.5% |
| EPS (diluted) | $0.06 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $48.6M | — | ||
| Q4 25 | $62.2M | $26.6M | ||
| Q3 25 | $39.5M | $32.0M | ||
| Q2 25 | $35.0M | $26.1M | ||
| Q1 25 | $32.6M | $21.1M | ||
| Q4 24 | $30.1M | $20.5M | ||
| Q3 24 | $28.1M | $22.1M | ||
| Q2 24 | $27.0M | $20.7M |
| Q1 26 | $4.0M | — | ||
| Q4 25 | — | $-9.2M | ||
| Q3 25 | $-21.7M | $4.1M | ||
| Q2 25 | $-20.6M | $-37.6M | ||
| Q1 25 | $-22.0M | $3.0M | ||
| Q4 24 | — | $-9.1M | ||
| Q3 24 | $-25.6M | $-5.6M | ||
| Q2 24 | $-23.9M | $-1.1M |
| Q1 26 | 42.9% | — | ||
| Q4 25 | 60.2% | 47.6% | ||
| Q3 25 | 42.1% | 50.6% | ||
| Q2 25 | 45.2% | 51.3% | ||
| Q1 25 | 41.3% | 53.7% | ||
| Q4 24 | 43.8% | 53.5% | ||
| Q3 24 | 38.3% | 52.2% | ||
| Q2 24 | 33.7% | 49.5% |
| Q1 26 | 17.6% | — | ||
| Q4 25 | 1.5% | -18.4% | ||
| Q3 25 | -61.4% | 3.8% | ||
| Q2 25 | -76.5% | -7.4% | ||
| Q1 25 | -73.0% | -12.7% | ||
| Q4 24 | -85.1% | -36.2% | ||
| Q3 24 | -98.0% | -21.8% | ||
| Q2 24 | -93.6% | -10.8% |
| Q1 26 | 8.2% | — | ||
| Q4 25 | — | -34.6% | ||
| Q3 25 | -55.0% | 12.9% | ||
| Q2 25 | -58.8% | -144.4% | ||
| Q1 25 | -67.5% | 14.3% | ||
| Q4 24 | — | -44.2% | ||
| Q3 24 | -91.1% | -25.4% | ||
| Q2 24 | -88.4% | -5.5% |
| Q1 26 | $0.06 | — | ||
| Q4 25 | $0.10 | — | ||
| Q3 25 | $-0.37 | $-0.06 | ||
| Q2 25 | $-0.38 | $-2.37 | ||
| Q1 25 | $-0.42 | $0.11 | ||
| Q4 24 | $-0.46 | $-0.15 | ||
| Q3 24 | $-0.54 | $-0.61 | ||
| Q2 24 | $-0.53 | $-0.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $173.1M | $35.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $275.6M | $19.0M |
| Total Assets | $381.5M | $85.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $173.1M | — | ||
| Q4 25 | $208.6M | $35.5M | ||
| Q3 25 | $244.5M | $23.8M | ||
| Q2 25 | $226.5M | $21.8M | ||
| Q1 25 | $168.2M | $16.3M | ||
| Q4 24 | $172.0M | $20.2M | ||
| Q3 24 | $151.4M | $21.6M | ||
| Q2 24 | $184.2M | $15.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $2.1M |
| Q1 26 | $275.6M | — | ||
| Q4 25 | $261.7M | $19.0M | ||
| Q3 25 | $247.4M | $-54.1M | ||
| Q2 25 | $221.0M | $-59.2M | ||
| Q1 25 | $167.9M | $-25.8M | ||
| Q4 24 | $180.9M | $-29.8M | ||
| Q3 24 | $171.7M | $-21.5M | ||
| Q2 24 | $170.6M | $-33.4M |
| Q1 26 | $381.5M | — | ||
| Q4 25 | $349.5M | $85.6M | ||
| Q3 25 | $353.8M | $74.9M | ||
| Q2 25 | $321.8M | $63.5M | ||
| Q1 25 | $268.6M | $51.4M | ||
| Q4 24 | $276.1M | $49.5M | ||
| Q3 24 | $255.2M | $56.1M | ||
| Q2 24 | $309.9M | $45.9M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-452.0K |
| Free Cash FlowOCF − Capex | — | $-651.0K |
| FCF MarginFCF / Revenue | — | -2.5% |
| Capex IntensityCapex / Revenue | — | 0.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-11.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-15.4M | $-452.0K | ||
| Q3 25 | $-18.3M | $-2.2M | ||
| Q2 25 | $-1.3M | $-2.2M | ||
| Q1 25 | $-4.9M | $-5.9M | ||
| Q4 24 | $-2.6M | $3.0M | ||
| Q3 24 | $-3.8M | $-7.5M | ||
| Q2 24 | $-21.6M | $-3.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-37.2M | $-651.0K | ||
| Q3 25 | $-20.0M | $-2.2M | ||
| Q2 25 | $-2.2M | $-2.3M | ||
| Q1 25 | $-5.4M | $-5.9M | ||
| Q4 24 | $-4.0M | $3.0M | ||
| Q3 24 | $-4.3M | $-7.5M | ||
| Q2 24 | $-22.0M | $-3.4M |
| Q1 26 | — | — | ||
| Q4 25 | -59.8% | -2.5% | ||
| Q3 25 | -50.7% | -6.8% | ||
| Q2 25 | -6.3% | -8.8% | ||
| Q1 25 | -16.6% | -28.1% | ||
| Q4 24 | -13.3% | 14.5% | ||
| Q3 24 | -15.4% | -33.9% | ||
| Q2 24 | -81.5% | -16.3% |
| Q1 26 | — | — | ||
| Q4 25 | 35.0% | 0.7% | ||
| Q3 25 | 4.3% | 0.0% | ||
| Q2 25 | 2.5% | 0.2% | ||
| Q1 25 | 1.7% | 0.0% | ||
| Q4 24 | 4.8% | 0.2% | ||
| Q3 24 | 2.0% | 0.0% | ||
| Q2 24 | 1.3% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | -0.52× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -1.96× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OUST
| Product revenue | $48.2M | 99% |
| Royalties | $347.0K | 1% |
OWLT
| US | $22.7M | 85% |
| Non Us | $3.2M | 12% |
| Other | $651.0K | 2% |
