I would guess the context of this sentence would be a person saying this to a guest or roommate staying at their house or apartment. In this context, "... you are out" would mean something like, "I am going to make you leave my house and you may not come back."

Typically, "you are out" is fairly informal. If you were speaking this phrase, it will likely be: "you're out". Being out, makes the assumption that the person was "in". The meaning of "in" is that you were close, you had a bond, you were part of a "club" of your own. The meaning of "out" is that your bond will be broken and your friend will be kicked (figuratively) "out" of the club. Hope that helps.

Depending in the context either of the 2 commentators above are correct. So one could be kicked out ot the apartment or kicked out of a relationship