Faro Technologies Inc Stock Price, News & Analysis

FARO Technologies, Inc. (NASDAQ: FARO), a leader in 4D digital reality solutions, is set to release its financial results for the first quarter of 2023 after market close on May 3, 2023. The announcement will be accompanied by a conference call featuring Michael D. Burger, President and CEO, and Allen Muhich, CFO, at 5:00 p.m. ET on the same day. Interested participants can join the call by dialing 800-267-6316 for U.S. or +1 203-518-9783 for international calls, and should aim to connect 10 minutes prior to the start to avoid delays. A live webcast will also be available on FARO's Investor Relations website, with a replay accessible approximately two hours after the call for 30 days.

FARO Technologies, Inc. has announced the launch of Hybrid Reality Capture™, a groundbreaking solution that enhances scanning efficiency by 100%, allowing users to complete two weeks of work in one. This innovative technology combines the precision of static 3D laser scanning with the speed of panoramic imaging, enabling scans in just 30 seconds. The solution is designed for the architecture, engineering, construction, and public safety sectors, and it will be available as a subscription in FARO's Stream mobile app. FARO's President and CEO, Michael Burger, emphasizes this technology's potential to dramatically improve productivity and deliver high-quality visual data.

FARO Technologies, Inc. reported its financial results for Q4 and full-year 2022, showing a 4% increase in total sales to $103.9 million. On a constant currency basis, revenue grew 10% to $110.5 million. The company noted growth in Laser Scanners and European market demand, alongside the impact of its acquisition of GeoSLAM. However, software sales declined by 5% and gross margin fell to 49.1%. For Q1 2023, FARO expects revenue between $81 to $89 million, with a non-GAAP loss per share projected between -$0.22 and -$0.02. The net loss for 2022 was $26.8 million, improving from $40 million in the previous year.

FARO Technologies, a leader in 4D digital reality solutions, will announce its financial results for Q4 and full year 2022 on February 15, 2023, after market close. CEO Michael D. Burger and CFO Allen Muhich will conduct a conference call at 5:00 p.m. ET on the same day to discuss the results. Interested parties can join the call by dialing the provided numbers or through a live webcast available on FARO's website. A replay of the call will be accessible for about 30 days. FARO has been pioneering technology solutions for 40 years, helping customers make data-driven decisions efficiently.

FARO Technologies, Inc. (NASDAQ: FARO) announced the pricing of $60 million in 5.50% convertible senior notes due 2028, set to close on January 24, 2023. The notes have an initial conversion rate of 23.6072 shares per $1,000 principal, equivalent to a price of approximately $42.36 per share, a 20% premium over the closing price on January 19, 2023. Proceeds are expected to total about $57.7 million, aimed at working capital and general corporate purposes. The company may redeem the notes after February 5, 2026, if its stock price meets certain conditions. The offering complies with Rule 144A under the Securities Act.