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Jun 30, 2024
FARO Q2 2024 Earnings Report
FARO's financial performance was announced for the second quarter of 2024, with revenue at $82.1 million and non-GAAP EPS at $0.18.
Key Takeaways
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.
Revenue reached $82.1 million.
Gross margin was 54.6%, with Non-GAAP gross margin at 55.0%, exceeding guidance.
Loss per share was $(0.03), while Non-GAAP earnings per share was $0.18, also above guidance.
Cash flow from operations amounted to $4.2 million.
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, 2024, FARO expects revenue in the range of $76 to $84 million, gross margin in the range of 53.0% to 54.5%, non-GAAP gross margin in the range of 53.5% to 55.0%, operating expenses in the range of $45 to $47 million, non-GAAP operating expenses in the range of $40 to $42 million, net loss per share in the range of ($0.32) to ($0.12), and non-GAAP net loss to net income per share in the range of $(0.01) to $0.19.
Positive Outlook
- Revenue is projected to be between $76 million and $84 million.
- Gross margin is expected to range from 53.0% to 54.5%.
- Non-GAAP gross margin is anticipated to be between 53.5% and 55.0%.
Challenges Ahead
- Operating expenses are projected to be between $45 million and $47 million.
- Non-GAAP operating expenses are expected to range from $40 million to $42 million.
- Net loss per share is projected to be in the range of ($0.32) to ($0.12).
- Non-GAAP net loss to net income per share is expected to be in the range of $(0.01) to $0.19.
Revenue & Expenses
Visualization of income flow from segment revenue to net income