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Dec 31, 2024
FARO Q4 2024 Earnings Report
FARO reported a decrease in total sales but showed significant improvements in gross margin, net income, and cash flow for the fourth quarter of 2024.
Key Takeaways
FARO Technologies, Inc. announced its fourth quarter and full year 2024 financial results, with Q4 revenue at $93.5 million, meeting the upper end of guidance. The company reported a net loss of $1.0 million, or $(0.05) per share, but a non-GAAP EPS of $0.50, at the high end of guidance. Significant improvement in cash flow resulted in positive Q4 and FY2024 cash flow from operations, with adjusted EBITDA margin reaching 17.9%.
Q4 revenue reached $93.5 million, aligning with the upper end of the company's guidance range.
Non-GAAP EPS for Q4 was $0.50, hitting the high end of the guidance range, despite a GAAP net loss of $1.0 million.
The company achieved a significant improvement in cash flow, resulting in positive cash flow from operations for both Q4 and the full fiscal year 2024.
Adjusted EBITDA margin for Q4 was 17.9%, demonstrating strong operational profitability.
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 first quarter ending March 31, 2025, FARO expects revenue between $77 million and $85 million, with non-GAAP earnings per share in the range of $0.10 to $0.30.
Positive Outlook
- Expected non-GAAP gross margin in the range of 55.0% - 56.5%, indicating continued strong profitability.
- Anticipated non-GAAP earnings per share between $0.10 and $0.30, suggesting positive adjusted profitability.
- Continued focus on operational excellence and strategic investments to drive long-term value.
- Leveraging multi-phase strategy for sustained market leadership.
- Confidence in achieving sustained growth and profitability.
Challenges Ahead
- Projected revenue range of $77 million to $85 million for Q1 2025 is lower than Q4 2024 revenue of $93.5 million.
- Expected GAAP net loss per share in the range of ($0.36) - ($0.16) for Q1 2025.
- Operating expenses are projected to be between $45.0 million and $47.0 million, which is a significant cost.
- Potential impact of economic and demand challenges in manufacturing and construction sectors.
- Risks associated with the company's ability to successfully execute its strategic plan and realize expected benefits from restructuring.
Revenue & Expenses
Visualization of income flow from segment revenue to net income