How did OUST's Q4 2024 earnings surprise impact investor sentiment?

**Ouster's Q4 2024 earnings surprise likely had a negative impact on investor sentiment**. Here's why:

1. **Revenue Projection Miss**: Ouster anticipated Q4 revenue between $29 million and $31 million, which was below the actual revenue reported. This discrepancy could have led to concerns among investors about the company's revenue growth trajectory and operational efficiency.
2. **Financial Performance**: The company reported an EPS surprise of -$0.22 for Q4 2024. This negative surprise suggests that the company's performance fell short of investor expectations, potentially indicating underlying issues with profitability or cost management.

3. **Sequential Decline in Sensor Shipments**: Ouster experienced a sequential decline in sensor shipments for the second consecutive quarter. This trend could be interpreted as a sign of waning demand or operational challenges, which might have dampened investor confidence.
4. **Strategic Priorities and Outlook**: While Ouster is targeting significant annual revenue growth, the company's strategic focus on expanding its installed base and increasing software sales might not have been adequately addressed in the earnings report. Investors might require more clarity on how these strategies will be executed and what the expected outcomes are.
5. **Board Dynamics and Corporate Governance**: Recent board changes, including the resignation of director Riaz Valani and the adoption of a new executive severance plan, could raise questions about the company's governance and long-term strategy. Such changes might lead to uncertainty and potentially negative perceptions among investors.

In conclusion, the combination of Ouster's revenue projection miss, negative EPS surprise, sequential decline in sensor shipments, and strategic priorities not meeting expectations, along with corporate governance changes, likely contributed to a negative sentiment among investors following the earnings report.