FARO Earnings Reports

FARO Technologies reported a strong start to 2025, with Q1 financial results surpassing expectations. Revenue reached $82.9 million, gross margin was 57.0%, and adjusted EBITDA stood at $12.5 million, or 15.0% of revenue. The company achieved GAAP net income of $0.9 million and non-GAAP EPS of $0.33, reflecting successful execution of strategic growth initiatives and increasing traction from refreshed products.

FARO Technologies, Inc. announced its fourth quarter and full year 2024 financial results, with Q4 revenue at $93.5 million, meeting the upper end of guidance. The company reported a net loss of $1.0 million, or $(0.05) per share, but a non-GAAP EPS of $0.50, at the high end of guidance. Significant improvement in cash flow resulted in positive Q4 and FY2024 cash flow from operations, with adjusted EBITDA margin reaching 17.9%.

FARO Technologies reported Q3 2024 revenue of $82.6 million, with a GAAP net loss of $0.3 million, or $(0.02) per share, and non-GAAP EPS of $0.21. The company achieved a gross margin of 55.7% and non-GAAP gross margin of 56.1%.

FARO Technologies reported revenue of $82.1 million for Q2 2024. The company's GAAP net loss was $0.5 million, with a loss per share of $(0.03). Non-GAAP EPS was $0.18. Cash flow from operations was $4.2 million.

FARO Technologies reported Q1 2024 revenue of $84.2 million, a GAAP loss per share of $(0.38), and non-GAAP EPS of $0.09. The company generated $6.6 million in operating cash flow and achieved a gross margin of 51.4%.

FARO Technologies reported Q4 2023 revenue of $98.8 million, achieving the upper end of its guidance range. GAAP EPS was $0.08, and non-GAAP EPS was $0.36, both exceeding guidance. The company generated positive cash flow from operations and saw an increase in adjusted EBITDA by 12% year-over-year.

FARO Technologies, Inc. reported Q3 2023 financial results with revenue of $86.8 million and non-GAAP EPS of $0.02, exceeding expectations. The company saw a 2% year-over-year increase in total sales and focused on improved execution of its hardware and software enabled strategy.

FARO Technologies reported second quarter revenue of $88.2 million, a 10% increase year over year. The company executed cost reduction activities ahead of schedule and expects to realize a lower cost base in the third quarter. The company remains focused on its hardware and software enabled strategy.

FARO Technologies reported strong first-quarter revenue of $85.0 million, an 11% increase year-over-year, driven by shipments of the new Focus Premium Laser Scanner. The company is implementing cost-saving initiatives to offset the impact of delayed customer purchase decisions and inflationary pressures.

FARO Technologies reported a 4% increase in total sales for Q4 2022, reaching $103.9 million. The company experienced growth in Laser Scanners and the European market, along with the addition of GeoSLAM. However, gross margin decreased due to the stronger US dollar.

FARO Technologies reported Q3 2022 financial results with total sales of $85.3 million, up 8% compared to the prior year period. Constant currency revenue increased by 14% year-over-year. The company reported a net loss of $6.3 million, or ($0.34) per share, compared to a net loss of $3.9 million, or ($0.21) per share in the prior year period.

FARO Technologies reported a decrease in total sales by 3% compared to the prior year period, with total sales of $79.9 million. However, software sales increased to $10.5 million and recurring revenue grew by 8% to $17.1 million. The company anticipates revenue between $79 million and $87 million, with a non-GAAP loss per share between ($0.08) and $0.08 for Q3 2022.

FARO Technologies reported total sales of $76.7 million, in line with the prior year period. The company experienced a net loss of $9.7 million, or ($0.53) per share, compared to a net loss of $3.2 million, or ($0.18) per share in the prior year period.

FARO's fourth quarter revenue grew 27% sequentially to $100.2 million, driven by market recovery and increased arm shipments, while a strong dollar and supply chain issues muted revenue levels. Holobuilder SaaS revenue is on track to double, with a mid-six figure annual recurring revenue deal signed in the quarter.

FARO reported a 12% increase in total sales compared to Q3 2020, driven by pandemic recovery, while facing logistical challenges that shifted some orders to Q4. The company's gross margin improved due to higher volumes, and they are optimistic about demonstrating operating leverage as revenue approaches pre-pandemic levels.

FARO Technologies reported a 36% increase in total sales, reaching $82.1 million for the second quarter of 2021, driven by broad-based improvement across served markets and pandemic-related softness in the prior year period. The company's net loss was $1.2 million, or $0.06 per share, compared to a net loss of $8.9 million, or $0.50 per share, for the second quarter of 2020.

FARO announced its Q1 2021 financial results with sales of $76.3 million, a slight decline compared to $79.5 million in Q1 2020, which the company attributes to the economic effects of the COVID-19 pandemic. New order bookings increased by 3% year-over-year to $80.6 million. The company reported a net loss of $3.2 million, or $0.18 per share, compared to a net loss of $14.8 million, or $0.84 per share, for the same period last year.

FARO announced strong fourth-quarter results with total sales of $93.0 million, demonstrating the effectiveness of a more efficient sales organization and the profit potential of a lower cost structure.

FARO's total sales were $70.7 million, a 17% sequential quarterly increase from Q2 2020, but a 22% decrease compared to Q3 2019. The net loss was $3.0 million, or $0.17 per share, compared to a net loss of $6.2 million, or $0.36 per share, for the third quarter 2019.

FARO reported a decrease in total sales and new order bookings for Q2 2020 compared to Q2 2019, primarily due to end market demand softness related to the COVID-19 pandemic. Despite the challenges, the company beat its non-GAAP operating expense objective six months earlier than expected.

FARO Technologies reported a decrease in total sales and new order bookings for Q1 2020 compared to Q1 2019. The company experienced a net loss, but restructuring plans are on track to achieve targeted savings.

FARO Technologies reported a decrease in total sales for Q4 2019, with $104.1 million compared to $112.8 million in Q4 2018. The company experienced a net loss of $49.7 million, or $2.85 per share, compared to a net income of $5.8 million, or $0.33 per share, in the same quarter of the previous year. Strategic initiatives were completed to leverage the company's market position and drive long-term profit growth, including an estimated $40 million in annualized pre-tax cost savings expected in Q4 2020.