FARO has announced its financial results for the third quarter ended September 30, 2023. Revenue for the third quarter of 2023 was $86.8M, compared to $88.2M for the second quarter ended June 30, 2023. Net loss was $8.8M.

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)

“Third quarter financial performance with revenue of $86.8 million and non-GAAP EPS of $0.02, exceeded the high-end of our expectations driven by a combination of moderate improvements in end market demand and operational performance,” said Peter Lau, president & chief executive office of FARO. “We are excited about the mid to long-term prospects for our business and remain focused on improved execution of our hardware and software enabled strategy, exemplified by the recent launch of the highly differentiated Orbis Mobile Scanner and release of an enhanced version of FARO Sphere XG.”

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 quickly and easily 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.

More information is available at www.faro.com.