FARO TECHNOLOGIES, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP (UNAUDITED) | |||
| |||
| Three Months Ended March 31, | ||
(dollars in thousands, except per share data) | 2022 |
| 2021 |
Gross profit, as reported | $ 41,026 |
| $ 40,407 |
Stock-based compensation (1) | 199 |
| 66 |
Non-GAAP adjustments to gross profit | 199 |
| 66 |
Non-GAAP gross profit | $ 41,225 |
| $ 40,473 |
Gross margin, as reported | 53.5% |
| 52.9% |
Non-GAAP gross margin | 53.8% |
| 53.0% |
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|
|
Selling, general and administrative, as reported | $ 35,490 |
| $ 33,348 |
Stock-based compensation (1) | (2,221) |
| (1,682) |
Purchase accounting intangible amortization | (201) |
| (185) |
Non-GAAP selling, general and administrative | $ 33,068 |
| $ 31,481 |
|
|
|
|
Research and development, as reported | $ 12,128 |
| $ 11,973 |
Stock-based compensation (1) | (447) |
| (346) |
Purchase accounting intangible amortization | (545) |
| (328) |
Non-GAAP research and development | $ 11,136 |
| $ 11,299 |
|
|
|
|
Operating expenses, as reported | $ 48,218 |
| $ 46,845 |
Stock-based compensation (1) | (2,668) |
| (2,028) |
Restructuring costs (2) | (600) |
| (1,524) |
Purchase accounting intangible amortization | (746) |
| (513) |
Non-GAAP adjustments to operating expenses | (4,014) |
| (4,065) |
Non-GAAP operating expenses | $ 44,204 |
| $ 42,780 |
|
|
|
|
Loss from operations, as reported | $ (7,192) |
| $ (6,438) |
Non-GAAP adjustments to gross profit | 199 |
| 66 |
Non-GAAP adjustments to operating expenses | 4,014 |
| 4,065 |
Non-GAAP loss from operations | $ (2,979) |
| $ (2,307) |
|
|
|
|
Net loss, as reported | $ (9,687) |
| $ (3,221) |
Non-GAAP adjustments to gross profit | 199 |
| 66 |
Non-GAAP adjustments to operating expenses | 4,014 |
| 4,065 |
Income tax effect of non-GAAP adjustments | (967) |
| (1,478) |
Other tax adjustments (3) | 3,937 |
| — |
Non-GAAP net loss | $ (2,504) |
| $ (568) |
|
|
|
|
Net loss per share - Diluted, as reported | $ (0.53) |
| $ (0.18) |
Stock-based compensation (1) | 0.16 |
| 0.12 |
Restructuring costs (2) | 0.03 |
| 0.08 |
Purchase accounting intangible amortization | 0.04 |
| 0.03 |
Income tax effect of non-GAAP adjustments | (0.05) |
| (0.08) |
Other tax adjustments (3) | 0.21 |
| — |
Non-GAAP net loss per share - Diluted | $ (0.14) |
| $ (0.03) |
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