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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.
Revenue by Segment
Revenue by Geographic Location
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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