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Faro Technologies (FARO)
NASDAQ:FARO
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.4Last Year’s EPS
$0.36Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: 38.45%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a mixed sentiment with strong operational improvements, product innovations, and positive cash flow being countered by notable revenue declines, particularly in the Asia Pacific region.Company Guidance
During the third quarter of 2024, FARO Technologies exceeded its targets by achieving a non-GAAP gross margin of 56.1%, which expanded 730 basis points year-over-year. Non-GAAP operating expenses were reported at $40.1 million, remaining at the lower end of the targeted guidance range of $40 million to $43 million per quarter. The company also delivered a non-GAAP EPS of $0.21, surpassing the high end of its guidance range. Adjusted EBITDA for the quarter was $8.9 million or 10.7% of sales, contributing to a year-to-date adjusted EBITDA of $22.9 million. FARO's revenue for the quarter was $82.6 million, reflecting stable demand in sectors like 3D metrology despite challenges in regions such as China and Germany. Looking forward, FARO expects fourth-quarter revenue between $88 million and $96 million, with non-GAAP gross margins anticipated to be between 56% and 57.5%. The company also announced a restructuring plan aimed at improving operating performance, with expected cash charges of $6 million to $9 million through the first half of 2025.Increase in Non-GAAP Gross Margin
Non-GAAP gross margin was 56.1% in Q3 2024, expanding 730 basis points year-over-year and 110 basis points sequentially.
Consistent Operating Cash Flow
The company generated positive operating cash flow for the fourth consecutive quarter.
New Product Launches and Innovations
FARO introduced the Quantum X and new laser scanners, enhancing their 3D metrology portfolio and laser scanning capabilities.
Strategic Customer Win with Royal BAM Group
FARO secured a 6-figure annual license deal with Royal BAM Group for their Sphere XG software.
Share Repurchase Program
Repurchased $10 million of outstanding shares in Q3 2024.
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FARO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FARO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $18.83 | $25.70 | +36.48% |
| Aug 08, 2024 | $14.41 | $15.17 | +5.27% |
| May 01, 2024 | $18.89 | $18.35 | -2.86% |
| Feb 27, 2024 | $22.11 | $22.40 | +1.31% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Faro Technologies (FARO) report earnings?
Faro Technologies (FARO) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Faro Technologies (FARO) earnings time?
Faro Technologies (FARO) earnings time is at Feb 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FARO EPS forecast?
FARO EPS forecast for the fiscal quarter 2024 (Q4) is $0.4.
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