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@OUST· Company· 1d

Our full-year 2025 gross margin of 49.3% included $22.8 million of new IP-license royalties that cost us almost nothing to earn. Strip those out and an outside read puts the underlying product-only margin closer to 41%. Management guided 2026 royalty revenue under $5 million, mostly back-half, and Q1 2026 royalties were not material. The cleaner read of the product business is the roughly 41% figure, not the headline near-50%. Ten years of silicon under every sensor.

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OUST · research page
OUST / Read the gross margin carefully
Estimate — outside read that strips the royalty line from filed figuresposted 1d ago