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.

Earnings data Q1 2024

FARO Technologies reports 11% revenue growth but faces macro challenges

FARO Technologies reported strong revenue growth in Q1 2023 but faced challenges with lengthening sales cycles and a softening macro environment. The company is taking steps to improve profitability through expense reductions and business optimization. Additionally, the announcement of a new product capability and leadership transition signals a strategic shift for the company.

FARO reports 10% revenue growth in Q2, focuses on cost efficiency

FARO Technologies delivered a strong second quarter performance with notable revenue growth and cost reduction efforts. The company's new leadership emphasized a commitment to customer needs and product enhancement. However, challenges in maintaining consistent top-line growth and managing the impact of product portfolio changes on gross margin may need careful attention.

FARO Technologies Exceeds Q3 Revenue Expectations, Faces Chinese Market Challenge

FARO Technologies exceeded revenue guidance and demonstrated improved operational efficiency in Q3 2023. However, unexpected softening in the Chinese market poses challenges for the fourth quarter. Despite this, the company remains committed to innovation and anticipates opportunities for recovery and growth.

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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.

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

Revenue of $86.8 million, exceeded high-end of expectations First full quarter of cost reductions achieved quarterly expense expectations Profitability exceeded expectations LAKE MARY, Fla. , Nov. 1, 2023 /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, 2023.

FARO Announces Third Quarter Financial Results

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.

Revolutionizing 3D Scanning Data Capture, FARO® Unveils Orbis™ Mobile Scanner

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3 Micro-Cap Stocks to Sell While You Still Can

LAKE MARY, Fla. , Aug. 22, 2023 /PRNewswire/ -- FARO (Nasdaq: FARO), a leading provider of 3D measurement, imaging, and realization solutions, is thrilled to announce its inaugural Signals Conference.

FARO Presents Inaugural Conference, Signals: Illuminating the Future of Reality Capture Technology

FARO Technologies, Inc. (NASDAQ:FARO ) Q2 2023 Earnings Conference Call August 2, 2023 5:00 PM ET Company Participants Michael Funari - Investor Relations Peter Lau - President and Chief Executive Officer Allen Muhich - Chief Financial Officer Yuval Wasserman - Executive Chairman Conference Call Participants Greg Palm - Craig Hallam Andrew DeGasperi - Berenberg Joseph Donahue - Baird Operator Good day, everyone and welcome to the FARO Technologies Second 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) Q2 2023 Earnings Call Transcript

LAKE MARY, Fla. , Aug. 2, 2023 /PRNewswire/ -- FARO Technologies, Inc ® (Nasdaq: FARO), a global leader in 3D measurement, imaging, and realization solutions for the 3D Metrology, AEC (Architecture, Engineering & Construction), and Public Safety Analytics markets, today announced, as required by Nasdaq Stock Market Rules, an equity inducement award to Peter J.

FARO Reports Inducement Grant Under Nasdaq Listing Rules

Revenue of $88.2 million, up 10% year over year, exceeded expectations Implemented cost reduction activities to realize targeted expense levels in third quarter Significant improvement in cash flow results in positive second quarter Free Cash Flow LAKE MARY, Fla. , Aug. 2, 2023 /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, 2023.

FARO Announces Second Quarter Financial Results

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2022 was unkind to growth stocks of all stripes, but the sell-off in the top 3D printing stocks started much earlier. After a strong run-up off the pandemic lows, the 3D Printing ETF (CBOE: PRNT ), an equal-weighted index of approximately 50 companies involved in the 3D printing industry, topped out in early 2021 at around $50.

The 3 Best 3D Printing Stocks to Buy Now: July 2023

LAKE MARY, Fla. , July 20, 2023 /PRNewswire/ -- FARO® Technologies, Inc. (NASDAQ: FARO), a global leader in 4D digital reality solutions, today announced that after market close on Wednesday, August 2, 2023, it will release its financial results for the second quarter ended June 30, 2023.

FARO to Announce Financial Results for the Second Quarter 2023 on August 2, 2023

Peter Lau to join effective July 24 th, 2023 Yuval Wasserman to continue as Executive Chairman LAKE MARY, Fla. , June 29, 2023 /PRNewswire/ -- FARO® (Nasdaq: FARO), a global leader of 3D measurement, imaging and realization solutions for the 3D Metrology, AEC (Architecture, Engineering & Construction), and Public Safety Analytics markets, today announced the appointment of Peter Lau as President and Chief Executive Officer and as a member of the Company's Board of Directors, effective July 24 th, 2023.

FARO Technologies Appoints Peter Lau as President and Chief Executive Officer

LAKE MARY, Fla. , June 6, 2023 /PRNewswire/ -- FARO® Technologies, Inc.

FARO Announces Strategic Partnership with HOLOGATE

FARO Technologies, a global technology company specializing in 3D scanning, has recently received more debt financing and announced an integration plan, which may lead to an increase in demand for its stock and FCF margin generation. The company is expected to benefit from the growth of the global 3D scanning market, which is projected to grow at a CAGR of 13.11% from 2022 to 2032. Despite risks from lack of financing and issues with third-party manufacturers, the stock price appears undervalued, and I believe recent consolidation in the 3D printing industry may push FARO to merge with another company, benefiting shareholders.

FARO: Risky, But Cloud Integration May Push The Price Up

FARO Technologies, Inc. (NASDAQ:FARO ) Q1 2023 Earnings Conference Call May 3, 2023 5:00 PM ET Company Participants Michael Funari - Investor Relations Michael Burger - Chief Executive Officer Allen Muhich - Chief Financial Officer Yuval Wasserman - Chairman Conference Call Participants Danny Eggerichs - Craig-Hallum Capital Group Rob Mason - R. W. Baird Operator Good day, everyone and welcome to the FARO Technologies First Quarter 2023 Earnings Call.

FARO Technologies, Inc. (FARO) Q1 2023 Earnings Call Transcript

Michael Burger to retire as President and CEO effective July 1 st, 2023 Yuval Wasserman will become Executive Chairman immediately and will assume the position of Chairman and Interim CEO on July 1 st, 2023 LAKE MARY, Fla. , May 3, 2023 /PRNewswire/ -- FARO® (Nasdaq: FARO), a global leader of 3D measurement, imaging and realization solutions for the 3D Metrology, AEC (Architecture, Engineering & Construction), and Public Safety Analytics markets, today announced that Michael Burger has informed the company that he intends to retire as president & chief executive officer and such retirement will be effective July 1st, 2023.

FARO Technologies Announces Retirement of President & CEO Michael Burger and appointment of Yuval Wasserman as Executive Chairman and Interim CEO

LAKE MARY, Fla. , May 3, 2023 /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, 2023.

FARO Announces First Quarter Financial Results

LAKE MARY, Fla. , April 26, 2023 /PRNewswire/ -- FARO® Technologies, Inc. (NASDAQ: FARO), a global leader in 4D digital reality solutions, today announced that after market close on Wednesday, May 3, 2023, it will release its financial results for the first quarter ended March 31, 2023.

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