FARO Technologies

FARO Technologies, Inc. engages in the design, development, manufacture, marketing and support of three-dimensional (3D) measurement, imaging, and realization systems. It operates through the following segments: 3D Manufacturing, Construction BIM, and Emerging Verticals. The 3D Manufacturing segment provides solutions for manual & automated measurement and inspection in an industrial or manufacturing environment. The Construction BIM segment offers solutions for as-built data capturing and 3D visualization in building information modeling and construction information management applications. The Emerging Verticals segment includes product design, public safety forensics, and 3D solutions. The company was founded by Gregory A. Fraser and Simon Raab on February 21, 1981 and is headquartered in Lake Mary, FL.

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FARO reports revenue growth and product innovation amidst profitability challenges

FARO Technologies demonstrated revenue growth and product innovation in Q4 2022, despite challenges in profitability and expense management.
The company's strong constant currency revenue growth and diversified product portfolio showcase resilience and market adaptability.
While facing a GAAP net loss and lower revenue guidance for Q1 2023, FARO's strategic acquisitions and product offerings position it for future growth.
With a solid cash position and ongoing focus on new product launches, FARO has opportunities to capitalize on market trends and drive long-term value.

FARO Technologies reports revenue growth, faces currency challenges, and transitions leadership

FARO Technologies saw revenue growth driven by strong hardware sales and new technology introductions.
Challenges include lengthened sales cycles and currency impact on operating expenses.
Opportunities lie in cost-saving initiatives, market expansion, and strategic business optimization.
Transition in leadership with Michael Burger's retirement and Yuval Wasserman stepping in as Interim CEO.

FARO Technologies reports solid Q2 results amidst cautious outlook

FARO Technologies delivered strong Q2 performance with revenue growth and improved profitability.
While facing challenges from macroeconomic softness, the company is focused on cost reductions and strategic initiatives.
Opportunities lie in enhancing product focus, market positioning, and leveraging new leadership for future growth.

FARO Technologies reports Q3 revenue growth, cautious on China market

FARO Technologies delivered a mixed performance in Q3 2023, with revenue growth, improved margins, and cost optimization. While facing challenges in China and macroeconomic uncertainties, the company remains focused on innovation and financial success. Positive outlook for H2 2023 with opportunities for growth and sustained differentiation.

FARO Technologies surpasses Q4 targets, eyes growth amid market challenges

FARO Technologies delivered strong Q4 results but faces challenges in China and global manufacturing. Focus on operational efficiency, cost control, and new technology investments to drive future growth.

FARO Technologies excels in Q1, eyes growth amid China challenges

FARO Technologies' Q1 2024 performance reflects resilience and strategic focus on innovation and growth. Despite challenges in China's construction market, the company's strong financial results and emphasis on employee motivation position it well to drive substantial shareholder value creation.

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FARO Technologies, Inc. engages in the design, development, manufacture, marketing, and support of three-dimensional imaging and software solutions. It offers hardware, software, 3D app center, and certified pre-owned equipment products. It operates through the following geographical segments: the United States and Canada, Americas-Other, Germany, EMEA-Other, Japan, China, and Asia-Other. The company was founded by Gregory A. Fraser and Simon Raab on February 21, 1981 and is headquartered in Lake Mary, FL.

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FARO Technologies, Inc. (FARO) Q3 2024 Earnings Call Transcript

Revenue of $82.6 million, at the upper end of guidance range Gross margin of 55.7%; Non-GAAP gross margin 56.1%, above guidance range Loss per share of $(0.02); Non-GAAP earnings per share ("EPS") of $0.21, above guidance range Cash flow from operations of $2.6 million Share repurchases of $10 million during the quarter LAKE MARY, Fla. , Nov. 6, 2024 /PRNewswire/ -- FARO® Technologies, Inc. (Nasdaq: FARO), a global leader in 4D digital reality solutions, today announced its financial results for the third quarter ended September 30, 2024.

FARO Announces Third Quarter Financial Results

LAKE MARY, Fla. , Oct. 23, 2024 /PRNewswire/ -- FARO® Technologies, Inc. (Nasdaq: FARO), a global leader in 4D digital reality solutions, today announced that after market close on Wednesday, November 6, 2024, it will release its financial results for the third quarter ended September 30, 2024.

FARO to Announce Financial Results for the Third Quarter 2024 on November 6, 2024

LAKE MARY, Fla. , Oct. 18, 2024 /PRNewswire/ -- FARO® (Nasdaq: FARO), a global leader in 4D digital reality solutions, today announced the appointment of Phillip Delnick to lead FARO's global sales organization as its SVP, Global Sales, effective October 21, 2024.

FARO Technologies Appoints Phillip Delnick as Senior Vice President, Global Sales

New FARO Focus Premium Max leads refreshed lineup LAKE MARY, Fla. , Oct. 15, 2024 /PRNewswire/ -- FARO Technologies, Inc. (Nasdaq: FARO) has launched the next generation in the FARO Focus 3D Laser Scanner portfolio.

FARO Introduces New Range Capabilities in Focus Laser Scanner Update

New arm series increases accuracy and boosts user confidence LAKE MARY, Fla. , Oct. 8, 2024 /PRNewswire/ -- FARO Technologies, Inc. (Nasdaq: FARO) has announced the release of the Quantum X FaroArm Series of portable coordinate measurement machines.

FARO Releases New Edition to its Portable CMM Series - FARO Quantum X

FARO Technologies, Inc. (NASDAQ:FARO ) Q2 2024 Results Conference Call August 8, 2024 4:30 PM ET Company Participants Michael Funari - Investor Relations Greg Palm - Craig-Hallum Capital Group Peter Lau - President and Chief Executive Officer Matt Horwath - Chief Financial Officer Conference Call Participants Jonathan Bass - Stephens Jim Ricchiuti - Needham Capital Operator Good day, everyone, and welcome to the FARO Technologies Second Quarter 2024 Earnings Call. For opening remarks and introductions, I would now like to turn the call over to Michael Funari at Sapphire Investor Relations.

FARO Technologies, Inc. (FARO) Q2 2024 Earnings Call Transcript

Revenue of $82.1 million Gross margin of 54.6%; Non-GAAP gross margin 55.0%, above guidance range Loss per share of $(0.03); Non-GAAP earnings per share ("EPS") of $0.18, above guidance range Cash flow from operations of $4.2 million LAKE MARY, Fla. , Aug. 8, 2024 /PRNewswire/ -- FARO® Technologies, Inc. (Nasdaq: FARO), a global leader in 4D digital reality solutions, today announced its financial results for the second quarter ended June 30, 2024.

FARO Announces Second Quarter Financial Results

LAKE MARY, Fla. , July 26, 2024 /PRNewswire/ -- FARO® Technologies, Inc. (Nasdaq: FARO), a global leader in 4D digital reality solutions, today announced that after market close on Thursday, August 8, 2024, it will release its financial results for the second quarter ended June 30, 2024.

FARO to Announce Financial Results for the Second Quarter 2024 on August 8, 2024

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FARO Technologies, Inc. (NASDAQ:FARO ) Q1 2024 Earnings Conference Call May 2, 2024 8:00 AM ET Company Participants Mike Funari - Sapphire, IR Peter Lau - President and CEO Matt Horwath - CFO Conference Call Participants James Ricchiuti - Needham Greg Palm - Craig-Hallum Operator Good day, everyone, and welcome to the FARO Technologies First Quarter 2024 Earnings Call. For opening remarks and introductions, I will now turn the call over to Michael Funari at Sapphire Investor Relations.

FARO Technologies, Inc. (FARO) Q1 2024 Earnings Call Transcript

Revenue of $84.2 million, at the upper end of guidance range Q1 loss per share of $(0.38); Non-GAAP earnings per share ("EPS") of $0.09, above guidance range Cash flow from operations of $6.6 million LAKE MARY, Fla. , May 1, 2024 /PRNewswire/ -- FARO® Technologies, Inc. (Nasdaq: FARO), a global leader in 4D digital reality solutions, today announced its financial results for the first quarter ended March 31, 2024.

FARO Announces First Quarter Financial Results

LAKE MARY, Fla. , April 25, 2024 /PRNewswire/ -- FARO® (Nasdaq: FARO), the global leader in 3D digital measurement, imaging and realization solutions, today announced that after market close on Wednesday, May 1, 2024, it will release its financial results for the first quarter ended March 31, 2024.

FARO to Announce Financial Results for the First Quarter 2024 on May 1, 2024

LAKE MARY, Fla., March 5, 2024 /PRNewswire/ -- FARO® (Nasdaq: FARO), the global leader in 3D digital measurement, imaging and realization solutions, will webcast its Investor Event on Monday, March 11, 2024.

FARO Technologies to Webcast 2024 Investor Event on Monday, March 11, 2024

FARO Technologies, Inc. (FARO) Q4 2023 Earnings Call Transcript

Q4 revenue of $98.8 million, at the upper end of our guidance range Q4 earnings per share ("EPS") of $0.08; Non-GAAP EPS of $0.36, above our guidance range Significant improvement in cash flow, which results in positive Q4 and FY2023 cash flow from operations LAKE MARY, Fla. , Feb. 27, 2024 /PRNewswire/ -- FARO® Technologies, Inc. (Nasdaq: FARO), a global leader in 4D digital reality solutions, today announced its financial results for the fourth quarter and full year ended December 31, 2023.

FARO Announces Fourth Quarter and Full Year 2023 Financial Results

LAKE MARY, Fla. , Feb. 13, 2024 /PRNewswire/ -- FARO® Technologies, Inc. (Nasdaq: FARO), a leading provider of 3D measurement, imaging, and realization solutions, today announced that after market close on Tuesday, February 27, 2024, it will release its financial results for the fourth quarter and full year ended December 31, 2023.

FARO to Announce Financial Results for the Fourth Quarter and Year End 2023 on February 28, 2024

LAKE MARY, Fla. , Jan. 16, 2024 /PRNewswire/ -- FARO® (Nasdaq: FARO), a global leader in 4D digital reality solutions, today announced that Matthew Horwath has been promoted to SVP & Chief Financial Officer from his current position as Vice President of Finance at FARO, effective immediately.

FARO Technologies Announces CFO Transition

LAKE MARY, Fla. , Dec. 29, 2023 /PRNewswire/ -- FARO® Technologies, Inc. (Nasdaq: FARO), a leading provider of 3D measurement, imaging, and realization solutions, today announced the successful completion of its SOC 2 Type II audit for Sphere XG, furthering its commitment to customer security.

FARO Successfully Completes SOC 2 Type II Audit

FARO Technologies, Inc. (NASDAQ:FARO ) Q3 2023 Results Conference Call November 2, 2023 8:00 AM ET Company Participants Michael Funari - Sapphire, IR Peter Lau - President and CEO Allen Muhich - CFO Conference Call Participants Greg Palm - Craig-Hallum Capital Group Chris Grenga - Needham & Co. Operator Good day, everyone, and welcome to the FARO Technologies Third Quarter 2023 Earnings Call. For opening remarks and introductions, I'll now turn the call over to Michael Funari at Sapphire Investor Relations.

FARO Technologies, Inc. (FARO) Q3 2023 Earnings Call Transcript

LAKE MARY, Fla. , Oct. 25, 2023 /PRNewswire/ -- FARO® Technologies (Nasdaq: FARO), a pioneer in the field of 3D measurement, imaging, and realization technology, today announced that after market close on Wednesday, November 1, 2023, it will release its financial results for the third quarter ended September 30, 2023.

FARO to Announce Financial Results for the Third Quarter 2023 on November 2, 2023

Sphere XG expands 3D cloud processing, viewing and collaboration to a broad set of FARO and industry capture devices including stationary, mobile, and iPhone LiDAR scanners, and 360 ° cameras LAKE MARY, Fla. , Oct. 23, 2023 /PRNewswire/ -- FARO® Technologies (Nasdaq: FARO), a leading provider of 3D measurement, imaging, and realization solutions, is excited to introduce FARO Sphere® XG: The Next-Generation Digital Reality Platform.

FARO Releases Next Generation Cloud Platform, Sphere XG

The first-to-market hybrid scanner offers mobile and stationary scanning in one device LAKE MARY, Fla. , Oct. 10, 2023 /PRNewswire/ -- FARO® Technologies (Nasdaq: FARO), a pioneer in the field of 3D measurement, imaging, and realization technology is proud to announce the release of the FARO® Orbis™ Mobile Scanner, a groundbreaking advancement set to redefine 3D reality capture.

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