Faro Technologies reports Q1 non-GAAP EPS 9c, consensus (12c)

Reports Q1 revenue $84.2M, consensus $81.07M. “We’re pleased with our strong start to the year, with our first quarter financial performance providing a solid foundation from which we expect to continue to invest in our strategic initiatives within our core markets,” said CEO Peter Lau. “GAAP loss per share of (38c) and non-GAAP EPS of 9c exceeded the high end of our guidance range. GAAP net loss of $7.3M and Adjusted EBITDA of $5.6M, million, or 6.6% of revenue, demonstrates the progress we continue to make towards our aspirational financial goals. In addition, we again expanded our cash position by generating $6.6 million of operating cash flow in the quarter, driven by profitability and efficiencies in working capital.”