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Mar 31, 2022
FARO Q1 2022 Earnings Report
FARO's first quarter revenue came in below expectations due to COVID lockdowns in China, supply chain shortages, and softer AEC market demand.
Key Takeaways
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.
Total sales of $76.7 million, in line with the prior year period
Software sales of $10.3M, representing 13% of revenue, remained consistent with the prior year period.
Recurring revenue of $16.5M, accounting for 21.5% of sales, increased by 6.5% compared to the prior year period.
Gross margin was 53.5%, compared to 52.9% in the prior year period
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the second quarter ending June 30, 2022, FARO currently expects revenue in the range of $77 to $85 million and Non-GAAP (loss) earnings per share in the range of ($0.17) to $0.04.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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