vs
Ouster, Inc.（OUST）与Vericel Corp（VCEL）财务数据对比。点击上方公司名可切换其他公司
Vericel Corp的季度营收约是Ouster, Inc.的1.9倍（$92.9M vs $48.6M），Vericel Corp净利率更高（25.0% vs 8.2%，领先16.8%），Ouster, Inc.同比增速更快（48.9% vs 23.3%），过去两年Vericel Corp的营收复合增速更高（34.6% vs 34.2%）
Ouster, Inc.是总部位于美国加利福尼亚州旧金山的激光雷达技术企业，主打高分辨率数字化3D激光雷达传感器，产品广泛应用于自动驾驶车辆、工业自动化、机器人、无人机、地图测绘、国防及安防等领域。
Vericel Corp是一家美国上市生物制药企业，前身为1989年在密歇根州安娜堡成立的Aastrom Bio，2014年10月正式更为现名，专注于生物制药相关领域的研发与商业化运营。
OUST vs VCEL — 直观对比
营收规模更大
VCEL
是对方的1.9倍
$48.6M
营收增速更快
OUST
高出25.6%
23.3%
净利率更高
VCEL
高出16.8%
8.2%
两年增速更快
VCEL
近两年复合增速
34.2%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $48.6M | $92.9M |
| 净利润 | $4.0M | $23.2M |
| 毛利率 | 42.9% | 78.7% |
| 营业利润率 | 17.6% | 24.1% |
| 净利率 | 8.2% | 25.0% |
| 营收同比 | 48.9% | 23.3% |
| 净利润同比 | — | 17.3% |
| 每股收益（稀释后） | $0.06 | $0.46 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收OUSTVCEL
| Q1 26 | $48.6M | — | ||
| 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 |
净利润OUSTVCEL
| Q1 26 | $4.0M | — | ||
| 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 |
毛利率OUSTVCEL
| Q1 26 | 42.9% | — | ||
| 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% |
营业利润率OUSTVCEL
| Q1 26 | 17.6% | — | ||
| 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% |
净利率OUSTVCEL
| Q1 26 | 8.2% | — | ||
| 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% |
每股收益（稀释后）OUSTVCEL
| Q1 26 | $0.06 | — | ||
| 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 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $173.1M | $137.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $275.6M | $354.6M |
| 总资产 | $381.5M | $488.0M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资OUSTVCEL
| Q1 26 | $173.1M | — | ||
| 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 |
股东权益OUSTVCEL
| Q1 26 | $275.6M | — | ||
| 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 |
总资产OUSTVCEL
| Q1 26 | $381.5M | — | ||
| 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 |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $15.0M |
| 自由现金流经营现金流 - 资本支出 | — | $12.8M |
| 自由现金流率自由现金流/营收 | — | 13.8% |
| 资本支出强度资本支出/营收 | — | 2.4% |
| 现金转化率经营现金流/净利润 | — | 0.65× |
| 过去12个月自由现金流最近4个季度 | — | $24.7M |
8季度趋势，按日历期对齐
经营现金流OUSTVCEL
| Q1 26 | — | — | ||
| 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 |
自由现金流OUSTVCEL
| Q1 26 | — | — | ||
| 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 |
自由现金流率OUSTVCEL
| Q1 26 | — | — | ||
| 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% |
资本支出强度OUSTVCEL
| Q1 26 | — | — | ||
| 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% |
现金转化率OUSTVCEL
| Q1 26 | — | — | ||
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
OUST
| Product revenue | $48.2M | 99% |
| Royalties | $347.0K | 1% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
