FARO Announces First Quarter Financial Results

(1) Regions represent North America and South America (Americas); Europe, the Middle East, and Africa (EMEA); and the Asia-Pacific (APAC).

 


For the Three Months Ended March 31,

(in thousands)

2022


2021





Product

$                      46,452


$                      44,416

Software

10,278


10,219

Service

19,926


21,696

Total Sales

$                      76,656


$                      76,331





     Product as a percentage of total sales

60.6%


58.2%

     Software as a percentage of total sales

13.4%


13.4%

     Service as a percentage of total sales

26.0%


28.4%





Total Recurring Revenue (2)

$                      16,473


$                      15,464

     Recurring revenue as a percentage of total sales

21.5%


20.3%

(2) Recurring revenue is comprised of hardware service contracts, software maintenance contracts, and subscription based software applications.

 

FARO TECHNOLOGIES, INC. AND SUBSIDIARIES

RECONCILIATION OF OUTLOOK - GAAP TO NON-GAAP



Fiscal quarter ending June 30, 2022



GAAP diluted loss per share range

($0.56) - ($0.32)

     Stock-based compensation

0.16

     Purchase accounting intangible amortization

0.04

     Restructuring and other costs

0.08

     Non-GAAP tax adjustments

0.11 - 0.08

Non-GAAP diluted (loss) earnings per share

($0.17) - $0.04

 

 

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/faro-announces-first-quarter-financial-results-301534595.html

SOURCE FARO

Contact:
Company Name: FARO
FARO Technologies, Inc., Allen Muhich, Chief Financial Officer
Phone: +1 407-562-5005
Email Contact Sapphire Investor Relations, LLC, Michael Funari or Erica Mannion
Phone: +1 617-542-6180
Email Contact
Financial data for FARO



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