LAKE MARY, FL, May 2, 2024 – FARO has announced its financial results for the first quarter ended March 31, 2024. Revenue for the first quarter of 2024 was $84.2M, 14.8% down compared to $98.8M for the fourth quarter ended December 31, 2023. Net loss was $7.3M.

Comparative analysis based on FARO’s financial results in the last 12 quarters (Result source FARO website)

Comparative analysis based on FARO’s financial results in the last 12 quarters (Result source FARO website)

“We’re pleased with our strong start to the year, with our first quarter financial performance providing a solid foundation from which we expect to continue to invest in our strategic initiatives within our core markets,” said Peter Lau, president & chief executive officer. “GAAP loss per share of $(0.38) and non-GAAP EPS of $0.09 exceeded the high end of our guidance range. GAAP net loss of $7.3 million and Adjusted EBITDA of $5.6 million, or 6.6% of revenue, demonstrates the progress we continue to make towards our aspirational financial goals. In addition, we again expanded our cash position by generating $6.6 million of operating cash flow in the quarter, driven by profitability and efficiencies in working capital.”

A complete chart of the financial results is available here.

About FARO

For 40 years, FARO has provided industry-leading technology solutions that enable customers to measure their world, and then use that data to make smarter decisions faster. FARO continues to be a pioneer in bridging the digital and physical worlds through data-driven reliable accuracy, precision, and immediacy.

For more information, visit www.faro.com.