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Dec 31, 2022
FARO Q4 2022 Earnings Report
FARO's Q4 2022 financial results were announced, revealing a 4% increase in total sales compared to the prior year period.
Key Takeaways
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.
Total sales increased by 4% to $103.9 million compared to the prior year period.
Non-GAAP total sales on a constant currency basis increased by 10% to $110.5 million compared to the prior year period.
Software sales declined 5% year on year to $12.9 million.
Recurring revenue increased to $18.1 million, representing 17% of revenue.
FARO
FARO
FARO Revenue by Segment
FARO Revenue by Geographic Location
Revenue by Segment
Service Sales Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAPAC Revenue
CapyFin.com Forward Guidance
For the first quarter ending March 31, 2023, FARO currently expects revenue in the range of $81 to $89 million and Non-GAAP loss per share in the range of -$0.22 to -$0.02.