Ouster, a developer of LiDAR sensors, announced plans to implement additional cost-cutting measures, including layoffs, aimed at increasing efficiency and supporting revenue growth.

Ouster reaffirmed that it is on track to realize USD 80 million–85 million in annual cost savings by the end of the year, resulting from the merger with Veoldyne Lidar. The company has also reaffirmed plans to generate revenue of USD 18 million–20 million in Q2 2023, the first full quarter post-merger.

The company is pursuing four strategic priorities for the year, which include generating new business through targeted sales, expanding its serviceable market through the development of digital LiDAR products, creating a robust software ecosystem to facilitate LiDAR adoption, and building a financially strong business to support long-term growth and shareholder value.

Analyst QuickTake : Ouster reportedly announced restructuring measures first in February 2023 to cut costs post-merger. Ouster also announced plans to focus more on LiDAR for smart infrastructure as opposed to automotive-grade LiDAR targeted toward self-driving cars and advanced driver assistance systems (ADAS) post-merger. The restructuring plans might help the company further align its resources with this shift in its focus.