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Side-by-side financial comparison of Ouster, Inc. (OUST) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $62.2M, roughly 1.5× Ouster, Inc.). On growth, Ouster, Inc. posted the faster year-over-year revenue change (106.6% vs 23.3%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $-37.2M). Over the past eight quarters, Ouster, Inc.'s revenue compounded faster (54.8% CAGR vs 34.6%).
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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
OUST vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $62.2M | $92.9M |
| Net Profit | — | $23.2M |
| Gross Margin | 60.2% | 78.7% |
| Operating Margin | 1.5% | 24.1% |
| Net Margin | — | 25.0% |
| Revenue YoY | 106.6% | 23.3% |
| Net Profit YoY | — | 17.3% |
| EPS (diluted) | $0.10 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $39.5M | $67.5M | ||
| Q2 25 | $35.0M | $63.2M | ||
| Q1 25 | $32.6M | $52.6M | ||
| Q4 24 | $30.1M | $75.4M | ||
| Q3 24 | $28.1M | $57.9M | ||
| Q2 24 | $27.0M | $52.7M | ||
| Q1 24 | $25.9M | $51.3M |
| Q4 25 | — | $23.2M | ||
| Q3 25 | $-21.7M | $5.1M | ||
| Q2 25 | $-20.6M | $-553.0K | ||
| Q1 25 | $-22.0M | $-11.2M | ||
| Q4 24 | — | $19.8M | ||
| Q3 24 | $-25.6M | $-901.0K | ||
| Q2 24 | $-23.9M | $-4.7M | ||
| Q1 24 | $-23.8M | $-3.9M |
| Q4 25 | 60.2% | 78.7% | ||
| Q3 25 | 42.1% | 73.5% | ||
| Q2 25 | 45.2% | 73.7% | ||
| Q1 25 | 41.3% | 69.0% | ||
| Q4 24 | 43.8% | 77.6% | ||
| Q3 24 | 38.3% | 71.9% | ||
| Q2 24 | 33.7% | 69.5% | ||
| Q1 24 | 28.6% | 68.9% |
| Q4 25 | 1.5% | 24.1% | ||
| Q3 25 | -61.4% | 5.1% | ||
| Q2 25 | -76.5% | -3.2% | ||
| Q1 25 | -73.0% | -24.3% | ||
| Q4 24 | -85.1% | 24.5% | ||
| Q3 24 | -98.0% | -4.3% | ||
| Q2 24 | -93.6% | -11.5% | ||
| Q1 24 | -99.5% | -10.7% |
| Q4 25 | — | 25.0% | ||
| Q3 25 | -55.0% | 7.5% | ||
| Q2 25 | -58.8% | -0.9% | ||
| Q1 25 | -67.5% | -21.4% | ||
| Q4 24 | — | 26.3% | ||
| Q3 24 | -91.1% | -1.6% | ||
| Q2 24 | -88.4% | -8.9% | ||
| Q1 24 | -91.9% | -7.5% |
| Q4 25 | $0.10 | $0.46 | ||
| Q3 25 | $-0.37 | $0.10 | ||
| Q2 25 | $-0.38 | $-0.01 | ||
| Q1 25 | $-0.42 | $-0.23 | ||
| Q4 24 | $-0.46 | $0.40 | ||
| Q3 24 | $-0.54 | $-0.02 | ||
| Q2 24 | $-0.53 | $-0.10 | ||
| Q1 24 | $-0.55 | $-0.08 |
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 | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $261.7M | $354.6M |
| Total Assets | $349.5M | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $208.6M | $137.5M | ||
| Q3 25 | $244.5M | $135.4M | ||
| Q2 25 | $226.5M | $116.9M | ||
| Q1 25 | $168.2M | $112.9M | ||
| Q4 24 | $172.0M | $116.2M | ||
| Q3 24 | $151.4M | $101.7M | ||
| Q2 24 | $184.2M | $102.5M | ||
| Q1 24 | $187.8M | $110.6M |
| Q4 25 | $261.7M | $354.6M | ||
| Q3 25 | $247.4M | $321.9M | ||
| Q2 25 | $221.0M | $306.8M | ||
| Q1 25 | $167.9M | $295.5M | ||
| Q4 24 | $180.9M | $292.0M | ||
| Q3 24 | $171.7M | $257.5M | ||
| Q2 24 | $170.6M | $243.0M | ||
| Q1 24 | $167.2M | $233.9M |
| Q4 25 | $349.5M | $488.0M | ||
| Q3 25 | $353.8M | $453.3M | ||
| Q2 25 | $321.8M | $435.6M | ||
| Q1 25 | $268.6M | $424.6M | ||
| Q4 24 | $276.1M | $432.7M | ||
| Q3 24 | $255.2M | $390.4M | ||
| Q2 24 | $309.9M | $376.8M | ||
| Q1 24 | $317.7M | $356.7M |
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 | $15.0M |
| Free Cash FlowOCF − Capex | $-37.2M | $12.8M |
| FCF MarginFCF / Revenue | -59.8% | 13.8% |
| Capex IntensityCapex / Revenue | 35.0% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $-64.8M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.4M | $15.0M | ||
| Q3 25 | $-18.3M | $22.1M | ||
| Q2 25 | $-1.3M | $8.2M | ||
| Q1 25 | $-4.9M | $6.6M | ||
| Q4 24 | $-2.6M | $22.2M | ||
| Q3 24 | $-3.8M | $10.2M | ||
| Q2 24 | $-21.6M | $18.5M | ||
| Q1 24 | $-5.7M | $7.2M |
| Q4 25 | $-37.2M | $12.8M | ||
| Q3 25 | $-20.0M | $19.5M | ||
| Q2 25 | $-2.2M | $81.0K | ||
| Q1 25 | $-5.4M | $-7.6M | ||
| Q4 24 | $-4.0M | $8.5M | ||
| Q3 24 | $-4.3M | $-9.2M | ||
| Q2 24 | $-22.0M | $1.8M | ||
| Q1 24 | $-7.1M | $-6.8M |
| Q4 25 | -59.8% | 13.8% | ||
| Q3 25 | -50.7% | 28.8% | ||
| Q2 25 | -6.3% | 0.1% | ||
| Q1 25 | -16.6% | -14.5% | ||
| Q4 24 | -13.3% | 11.2% | ||
| Q3 24 | -15.4% | -15.9% | ||
| Q2 24 | -81.5% | 3.4% | ||
| Q1 24 | -27.4% | -13.3% |
| Q4 25 | 35.0% | 2.4% | ||
| Q3 25 | 4.3% | 3.9% | ||
| Q2 25 | 2.5% | 12.9% | ||
| Q1 25 | 1.7% | 27.0% | ||
| Q4 24 | 4.8% | 18.3% | ||
| Q3 24 | 2.0% | 33.5% | ||
| Q2 24 | 1.3% | 31.8% | ||
| Q1 24 | 5.3% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| 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.
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
