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) generates a steady flow of news as a global provider of 3D metrology, laser scanning, and digital reality solutions. Company announcements highlight new product launches, strategic partnerships, financial results, and major corporate developments, giving investors and industry professionals insight into how FARO’s technologies are evolving and where they are being applied.
Product-focused news often features advances in handheld and portable 3D metrology, such as the introduction of FARO Leap ST, a handheld scanner with multiple operating modes for metrology-grade measurement of parts and surfaces. FARO also issues updates on reality capture innovations like the Blink solution, which integrates with the FARO Sphere XG Digital Reality Platform to provide automated workflows and visualization for construction, real estate, and geospatial users.
FARO’s news flow includes earnings releases and outlook updates, where the company discusses product and service sales, margins, and non-GAAP performance metrics such as Adjusted EBITDA. These releases also outline strategic priorities, including operational initiatives and restructuring plans, and provide context on demand for FARO’s 4D digital reality solutions.
Strategic and corporate news items cover agreements and transactions that shape FARO’s position in the market. Examples include a strategic agreement with Topcon Corporation to collaborate on laser scanning solutions for construction, surveying, mapping, architecture, forensics, BIM, and industrial plant and process applications, as well as AMETEK’s agreement to acquire FARO and subsequent announcement of the acquisition’s completion.
This news page brings together these categories of updates so readers can follow FARO’s product roadmap, financial performance, partnerships, and corporate milestones in one place.
FARO (Nasdaq: FARO) will report its first-quarter financial results for the period ending March 31, 2021, after market close on April 28, 2021. A conference call will be hosted by President and CEO Michael D. Burger and CFO Allen Muhich on April 29, 2021, at 8:00 a.m. ET. Interested participants can join by dialing (877) 876-9176 for the U.S. or +1 (785) 424-1670 internationally, using the passcode FARO. Additionally, a live webcast will be available on FARO’s Investor Relations website.
FARO (Nasdaq: FARO) announced changes to its Board of Directors, welcoming Jeroen van Rotterdam, who brings 25 years of experience in technology and cloud development, to support the company's strategic goals. Board Chairman John Donofrio highlighted FARO's potential to enhance shareholder value through its portfolio aimed at 3D Metrology, AEC, and Public Safety markets. Effective at the 2021 annual stockholders meeting, board members John E. Caldwell and Jeffrey A. Graves will depart, with Caldwell being a longstanding member since 2002.
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FARO (Nasdaq: FARO) reported a strong fourth quarter for 2020, with total sales reaching $93.0 million, a 31% increase from the previous quarter, despite an 11% decline from Q4 2019. The company achieved a net income of $27.4 million, or $1.52 per share, aided by a $19 million tax asset gain. Operating expenses decreased to $48.1 million, significantly lower than $91.8 million in Q4 2019. For the full year, total sales were $303.8 million, down from $381.8 million in 2019, but gross margin improved to 52.6%. FARO enters 2021 with a solid cash position of $185.6 million.
FARO Technologies, Inc. (NASDAQ: FARO) will release its financial results for the fourth quarter and full year ended December 31, 2020, after market close on February 17, 2021. The announcement will be followed by a conference call on February 18, 2021, at 8:00 a.m. ET, hosted by CEO Michael D. Burger and CFO Allen Muhich. Interested parties can access the call via phone or through a live webcast available on FARO's Investor Relations website.
FARO Technologies, Inc. (NASDAQ: FARO) announced the launch of FARO Zone 3D 2021, enhancing tools for crime, crash, fire, and security applications. This updated software improves the accuracy of forensic scene documentation with new features including blood stain analysis, bullet trajectory mapping, and a 3D roof builder. The 'Advanced' option allows users to register scan data into a 3D point cloud, offering functionalities like VR immersion for scene analysis. FARO Zone 3D 2021 will be showcased at the Public Safety & Forensics Tech Summit on December 9, promoting advancements in 3D data capture technology.
FARO Technologies has launched its next-generation Vantage Laser Tracker 6 Degrees of Freedom (6DoF) Probe, designed for enhanced portability and accuracy. This new tool is compatible with the Vantage S6 and E6 Laser Trackers, enabling faster measurement processes. It features kinematic self-identifying styli, allowing quick tip changes without recalibration. Users can save at least 30 minutes a day. The tool boasts a measurement range of up to 80 meters and supports FARO ActiveSeek to facilitate the tracking of active targets, boosting productivity in industrial applications.
FARO Technologies (NASDAQ: FARO) launched its WebShare Software Enterprise, enhancing its 3D Metrology solutions. This feature allows organizations to store data on private servers or cloud infrastructure, improving data security and accessibility. It supports unlimited data sizes and various industry formats, ideal for AEC projects and Digital Twin applications. Following the acquisition of ATS, FARO aims to optimize project efficiency with 10x faster imaging and up to 1mm accuracy in 3D scans.
FARO (Nasdaq: FARO) announced its third quarter 2020 financial results, reporting total sales of $70.7 million, a 17% sequential increase from the second quarter but down 22% year-over-year. New order bookings rose to $72.0 million, also a 17% increase sequentially but 24% below Q3 2019. Gross margin decreased to 51.3% compared to 56.1% in Q3 2019. The company posted a net loss of $3.0 million or $0.17 per share, an improvement from a net loss of $6.2 million or $0.36 per share a year earlier. The company remains debt-free with cash and investments totaling $163.6 million.
FARO Technologies, Inc. (NASDAQ: FARO), a leader in 3D measurement and imaging solutions, is set to announce its financial results for Q3 2020 after market close on October 28, 2020. A conference call will follow on October 29, 2020, at 8:00 a.m. ET, hosted by CEO Michael D. Burger and CFO Allen Muhich. Interested parties can join via phone or through a live webcast available on the company's Investor Relations page. A replay of the call will be accessible for about 30 days post-event.