FARO Q1 2024: Non-GAAP EPS $0.09 beats guidance; revenue $84.2M at upper end

FARO TECHNOLOGIES INC

2024-Q1 EPS reported -$0.38 revenue$84,244,000

Revenue of $84.2M (down 1% YoY) at upper end of guidance; GAAP EPS loss $(0.38), non-GAAP EPS $0.09 beating guidance.
GAAP net loss improved to $7.3M from $21.2M; Adjusted EBITDA $5.6M (6.6% of revenue) vs negative $5.5M a year ago.
Gross margin expanded to 51.4% GAAP (46.7% prior year); operating expenses cut to $48.6M from $58.3M.
Operating cash flow of $6.6M; cash & investments grew to $99.3M from $96.3M at year-end.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FARO TECHNOLOGIES INC reported the fiscal quarter ended March 31, 2024 results: revenue $84.2 million, net income Net loss of $7.3 million, EPS $(0.38) per share.

Period: the fiscal quarter ended March 31, 2024
Revenue: $84.2 million
Net income: Net loss of $7.3 million
EPS: $(0.38) per share
Result: reported results

Exact text from the filing

of this Current Report, regardless of any general incorporation language in the filing. --- EX-99.1 (EX-99.1) --- FARO Announces First Quarter Financial Results • Revenue of $84.2 million, at the upper end of guidance range • Q1 loss per share of $(0.38); Non-GAAP earnings per share (“EPS”) of $0.09, above guidance range • Cash flow from operations of $6.6 million

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Source: SEC EDGAR

accession 0000917491-24-000008

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