Ouster Inc ( OUST ) reported financial results for the second quarter on Thursday after the market close. Here’s a rundown of the lidar (light detection and ranging) company’s report.

Q2 Revenue: $35.05 million, versus estimates of $33.77 million

Q2 Loss: 38 cents, versus estimates of 55 cents

OUST is posting impressive gains in the latest session. See the chart here.

Total revenue in the second quarter increased 30% year-over-year and 7% sequentially as Ouster shipped 5,500 sensors during the period. The company said demand primarily came from customers in the industrial and automotive verticals for use cases in warehouse automation, yard logistics and robotaxis.

Ouster ended the quarter with $229 million of total cash, cash equivalents, restricted cash and short-term investments.

“Ouster achieved strong second quarter results above the high end of guidance and shipped a record 5,500 sensors, bringing Physical AI to life across logistics, industrial, and smart infrastructure sites around the world,” said Angus Pacala, CEO of Ouster.

“We are well-positioned for continued growth as we see customers successfully moving from prototype testing and into commercial production.”

Q3 Outlook: Ouster expects third-quarter revenue to be in the range of $35 million to $38 million versus estimates of $37.73 million, according to Benzinga Pro.

OUST Price Action: Ouster shares were up 11.73% in after-hours Thursday, trading at $25.81 at the time of publication, according to Benzinga Pro.

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