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Side-by-side financial comparison of Ouster, Inc. (OUST) and Smart Sand, Inc. (SND). Click either name above to swap in a different company.
Smart Sand, Inc. is the larger business by last-quarter revenue ($86.0M vs $62.2M, roughly 1.4× Ouster, Inc.). On growth, Ouster, Inc. posted the faster year-over-year revenue change (106.6% vs -5.8%). Smart Sand, Inc. produced more free cash flow last quarter ($20.4M vs $-37.2M). Over the past eight quarters, Ouster, Inc.'s revenue compounded faster (54.8% CAGR vs 1.8%).
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.
Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.
OUST vs SND — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $62.2M | $86.0M |
| Net Profit | — | $1.2M |
| Gross Margin | 60.2% | 13.0% |
| Operating Margin | 1.5% | -3.1% |
| Net Margin | — | 1.4% |
| Revenue YoY | 106.6% | -5.8% |
| Net Profit YoY | — | -68.5% |
| EPS (diluted) | $0.10 | $0.03 |
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.
| Q4 25 | $62.2M | $86.0M | ||
| Q3 25 | $39.5M | $92.8M | ||
| Q2 25 | $35.0M | $85.8M | ||
| Q1 25 | $32.6M | $65.6M | ||
| Q4 24 | $30.1M | $91.4M | ||
| Q3 24 | $28.1M | $63.2M | ||
| Q2 24 | $27.0M | $73.8M | ||
| Q1 24 | $25.9M | $83.1M |
| Q4 25 | — | $1.2M | ||
| Q3 25 | $-21.7M | $3.0M | ||
| Q2 25 | $-20.6M | $21.4M | ||
| Q1 25 | $-22.0M | $-24.2M | ||
| Q4 24 | — | $3.7M | ||
| Q3 24 | $-25.6M | $-98.0K | ||
| Q2 24 | $-23.9M | $-430.0K | ||
| Q1 24 | $-23.8M | $-216.0K |
| Q4 25 | 60.2% | 13.0% | ||
| Q3 25 | 42.1% | 16.1% | ||
| Q2 25 | 45.2% | 10.4% | ||
| Q1 25 | 41.3% | 4.2% | ||
| Q4 24 | 43.8% | 14.7% | ||
| Q3 24 | 38.3% | 10.3% | ||
| Q2 24 | 33.7% | 17.7% | ||
| Q1 24 | 28.6% | 14.2% |
| Q4 25 | 1.5% | -3.1% | ||
| Q3 25 | -61.4% | 5.8% | ||
| Q2 25 | -76.5% | -0.1% | ||
| Q1 25 | -73.0% | -10.8% | ||
| Q4 24 | -85.1% | 3.9% | ||
| Q3 24 | -98.0% | -7.8% | ||
| Q2 24 | -93.6% | 4.8% | ||
| Q1 24 | -99.5% | 0.9% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | -55.0% | 3.2% | ||
| Q2 25 | -58.8% | 24.9% | ||
| Q1 25 | -67.5% | -37.0% | ||
| Q4 24 | — | 4.1% | ||
| Q3 24 | -91.1% | -0.2% | ||
| Q2 24 | -88.4% | -0.6% | ||
| Q1 24 | -91.9% | -0.3% |
| Q4 25 | $0.10 | $0.03 | ||
| Q3 25 | $-0.37 | $0.08 | ||
| Q2 25 | $-0.38 | $0.54 | ||
| Q1 25 | $-0.42 | $-0.62 | ||
| Q4 24 | $-0.46 | $0.10 | ||
| Q3 24 | $-0.54 | $0.00 | ||
| Q2 24 | $-0.53 | $-0.01 | ||
| Q1 24 | $-0.55 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $208.6M | $22.6M |
| Total DebtLower is stronger | — | $15.0M |
| Stockholders' EquityBook value | $261.7M | $239.7M |
| Total Assets | $349.5M | $340.0M |
| Debt / EquityLower = less leverage | — | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $208.6M | $22.6M | ||
| Q3 25 | $244.5M | $5.1M | ||
| Q2 25 | $226.5M | $4.3M | ||
| Q1 25 | $168.2M | $5.1M | ||
| Q4 24 | $172.0M | $1.6M | ||
| Q3 24 | $151.4M | $7.2M | ||
| Q2 24 | $184.2M | $6.3M | ||
| Q1 24 | $187.8M | $4.6M |
| Q4 25 | — | $15.0M | ||
| Q3 25 | — | $14.3M | ||
| Q2 25 | — | $23.5M | ||
| Q1 25 | — | $13.7M | ||
| Q4 24 | — | $14.7M | ||
| Q3 24 | — | $15.7M | ||
| Q2 24 | — | $17.1M | ||
| Q1 24 | — | $25.5M |
| Q4 25 | $261.7M | $239.7M | ||
| Q3 25 | $247.4M | $239.9M | ||
| Q2 25 | $221.0M | $240.5M | ||
| Q1 25 | $167.9M | $219.9M | ||
| Q4 24 | $180.9M | $243.8M | ||
| Q3 24 | $171.7M | $243.6M | ||
| Q2 24 | $170.6M | $242.9M | ||
| Q1 24 | $167.2M | $242.5M |
| Q4 25 | $349.5M | $340.0M | ||
| Q3 25 | $353.8M | $343.1M | ||
| Q2 25 | $321.8M | $345.8M | ||
| Q1 25 | $268.6M | $326.9M | ||
| Q4 24 | $276.1M | $341.5M | ||
| Q3 24 | $255.2M | $335.8M | ||
| Q2 24 | $309.9M | $341.8M | ||
| Q1 24 | $317.7M | $349.3M |
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 0.11× |
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 | $-15.4M | $22.4M |
| Free Cash FlowOCF − Capex | $-37.2M | $20.4M |
| FCF MarginFCF / Revenue | -59.8% | 23.7% |
| Capex IntensityCapex / Revenue | 35.0% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 18.99× |
| TTM Free Cash FlowTrailing 4 quarters | $-64.8M | $32.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.4M | $22.4M | ||
| Q3 25 | $-18.3M | $18.2M | ||
| Q2 25 | $-1.3M | $-5.1M | ||
| Q1 25 | $-4.9M | $8.7M | ||
| Q4 24 | $-2.6M | $1.0M | ||
| Q3 24 | $-3.8M | $5.8M | ||
| Q2 24 | $-21.6M | $14.9M | ||
| Q1 24 | $-5.7M | $-3.9M |
| Q4 25 | $-37.2M | $20.4M | ||
| Q3 25 | $-20.0M | $14.8M | ||
| Q2 25 | $-2.2M | $-7.8M | ||
| Q1 25 | $-5.4M | $5.2M | ||
| Q4 24 | $-4.0M | $-840.0K | ||
| Q3 24 | $-4.3M | $3.7M | ||
| Q2 24 | $-22.0M | $13.5M | ||
| Q1 24 | $-7.1M | $-5.5M |
| Q4 25 | -59.8% | 23.7% | ||
| Q3 25 | -50.7% | 15.9% | ||
| Q2 25 | -6.3% | -9.1% | ||
| Q1 25 | -16.6% | 7.9% | ||
| Q4 24 | -13.3% | -0.9% | ||
| Q3 24 | -15.4% | 5.8% | ||
| Q2 24 | -81.5% | 18.3% | ||
| Q1 24 | -27.4% | -6.6% |
| Q4 25 | 35.0% | 2.3% | ||
| Q3 25 | 4.3% | 3.6% | ||
| Q2 25 | 2.5% | 3.1% | ||
| Q1 25 | 1.7% | 5.4% | ||
| Q4 24 | 4.8% | 2.1% | ||
| Q3 24 | 2.0% | 3.4% | ||
| Q2 24 | 1.3% | 1.8% | ||
| Q1 24 | 5.3% | 2.0% |
| Q4 25 | — | 18.99× | ||
| Q3 25 | — | 6.05× | ||
| Q2 25 | — | -0.24× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OUST
Segment breakdown not available.
SND
| Sand | $85.1M | 99% |
| Smart Systems Segment | $980.0K | 1% |
