secwatch.observer — SEC 8-K summary
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Issuer:     FARO TECHNOLOGIES INC (—)
CIK:        0000917491
Form:       8-K
Filed at:   2024-05-01T23:59:59+00:00
Accession:  0000917491-24-000008
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/917491/000091749124000008/0000917491-24-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/917491/000091749124000008/faro-20240501.htm
  HTML page:      https://secwatch.observer/filing/0000917491-24-000008

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer