Welcome to our dedicated page for Faro Technologies news (Ticker: FARO), a resource for investors and traders seeking the latest updates and insights on Faro Technologies stock.
FARO Technologies Inc (FARO) delivers cutting-edge 3D measurement, imaging, and reality capture solutions across manufacturing, construction, and public safety sectors. This dedicated news hub provides investors and industry professionals with timely updates on corporate developments shaping the precision measurement landscape.
Track official announcements including quarterly earnings, product innovations, and strategic partnerships. Our curated feed consolidates press releases, financial disclosures, and market analyses to help stakeholders monitor FARO's position in industrial metrology and digital twin technologies.
Discover updates on FARO's laser scanning systems, software enhancements for quality assurance workflows, and global expansion initiatives. Bookmark this page for streamlined access to operational milestones and leadership insights directly impacting the company's trajectory in 3D digitalization markets.
FARO Technologies, a global leader in 4D digital reality solutions, has appointed Phillip Delnick as Senior Vice President, Global Sales, effective October 21, 2024. Delnick brings extensive sales leadership experience from his nearly two-decade tenure at Ingersoll Rand, where he most recently served as Vice President, Americas – Power Tools and Lifting.
Peter Lau, President & CEO of FARO, expressed confidence in Delnick's ability to drive revenue growth, profit growth, and customer satisfaction. Delnick, in turn, expressed excitement about joining FARO and driving customer value through innovative products. He emphasized FARO's mission to harness digital reality solutions, enabling customers to achieve greater operating efficiencies by blending physical and virtual worlds.
FARO Technologies, Inc. (Nasdaq: FARO) has unveiled the next generation of its Focus 3D Laser Scanner portfolio, introducing the Focus Premium Max with an extended scanning range of 400 meters. This update aims to enhance data capture capabilities for large outdoor environments. The entire Focus lineup now incorporates Hybrid Reality Capture™ powered by Flash Technology, reducing scanning time by up to 50%.
The refreshed portfolio includes improvements to existing Focus Premium and Core laser scanners, offering enhanced range capabilities. These scanners are designed for applications in construction, geospatial, engineering, and public safety. The FARO Stream app, included with all Focus scanners, provides real-time feedback on pre-registered scans, while data can be optionally uploaded to FARO Sphere XG for comprehensive analysis, storage, and collaboration.
FARO Technologies, Inc. (Nasdaq: FARO) has unveiled the Quantum X FaroArm Series of portable coordinate measurement machines. This new series offers an up to 15% increase in accuracy compared to previous Quantum Max FaroArms, enhancing manufacturing efficiency with improved probing and scanning capabilities. The Quantum X Series is available in 5 lengths, ranging from 2 to 4 meters, catering to various manufacturing needs such as quality control and product design.
When combined with the FARO 8-Axis Max integrated rotary worktable, measurement time can be reduced by up to 40%. The series is compatible with FARO's Laser Line Probes (LLPs), allowing users to switch between contact and non-contact scanning without recalibration. The Quantum X Series is now available globally, with demonstrations bookable on FARO.com.
FARO Technologies has released its Q2 2024 financial results. The company reported revenue of $82.1 million, a 7% decline YoY. The gross margin was 54.6%, with a non-GAAP gross margin of 55.0%, both above guidance. The GAAP net loss was $0.5 million or $(0.03) per share, but non-GAAP EPS was $0.18. Cash flow from operations reached $4.2 million.
Despite a challenging macroeconomic environment, FARO achieved adjusted EBITDA of $8.4 million, 10.3% of revenue. Operating expenses fell to $43.0 million from $58.7 million YoY. The company also holds $97.9 million in cash and equivalents.
For Q3 2024, FARO anticipates revenue between $76 and $84 million, with a gross margin of 53.0% to 54.5%. Operating expenses are expected to range from $45 to $47 million.
FARO Technologies, Inc. (Nasdaq: FARO), a leader in 4D digital reality solutions, has announced its plan to release second quarter 2024 financial results on August 8, 2024, after market close. Following the release, the company will host a conference call at 4:30 pm ET on the same day. Peter Lau, President and CEO, and Matthew Horwath, Senior VP and CFO, will lead the call.
Interested parties can join the call by dialing +1 800-267-6316 (U.S.) or +1 203-518-9783 (International) using the passcode FARO. A live webcast will be available on FARO's Investor Relations website. To ensure a timely connection, participants are advised to dial in 10 minutes before the start time. A replay of the webcast will be accessible on the company's website for approximately 30 days after the call.
FARO Technologies, Inc. announced Q1 financial results with revenue of $84.2 million, exceeding guidance. GAAP loss per share was $(0.38), but Non-GAAP EPS was $0.09. The company generated $6.6 million in cash flow from operations. Total sales were down 1% year over year. FARO expects revenue in the range of $79 to $87 million for Q2 2024.
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