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Jun 30, 2022
FARO Q2 2022 Earnings Report
Reported a decrease in total sales but an increase in software sales and recurring revenue.
Key Takeaways
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.
Total sales decreased by 3% to $79.9 million compared to the prior year period.
Software sales increased to $10.5 million, representing 13% of revenue.
Recurring revenue grew by 8% to $17.1 million, accounting for 21% of revenue.
Net loss was $8.6 million, or ($0.47) per share, compared to a net loss of $1.2 million, or ($0.06) per share in the prior year period.
FARO
FARO
FARO Revenue by Segment
FARO Revenue by Geographic Location
Revenue by Segment
Product Sales Revenue
CapyFin.comService Sales Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAPAC Revenue
CapyFin.com Forward Guidance
For the third quarter ending September 30, 2022, FARO currently expects revenue in the range of $79 to $87 million and Non-GAAP (loss) earnings per share in the range of ($0.08) to $0.08.
Revenue & Expenses
Visualization of income flow from segment revenue to net income