FARO Announces Third Quarter Financial Results

 


Three Months Ended September 30,


Nine Months Ended September 30,

(in thousands)

2024


2023


2024


2023









Hardware

$        50,301


$        55,706


$      152,968


$      167,484

Software

11,159


11,205


33,341


32,270

Service

21,103


19,902


62,583


60,237

Total Sales

$        82,563


$        86,813


$      248,892


$      259,991









Hardware as a percentage of total sales

60.9 %


64.2 %


61.5 %


64.4 %

Software as a percentage of total sales

13.5 %


12.9 %


13.4 %


12.4 %

Service as a percentage of total sales

25.6 %


22.9 %


25.1 %


23.2 %









Total Recurring Revenue (3)

$        17,431


$        17,056


$        51,287


$        50,137

Recurring revenue as a percentage of total sales

21.1 %


19.6 %


20.6 %


19.3 %



(3) 

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

 

FARO TECHNOLOGIES, INC. AND SUBSIDIARIES

FREE CASH FLOW RECONCILIATION

(UNAUDITED)



Three Months Ended September 30,


Nine Months Ended September 30,

(in thousands)

2024


2023


2024


2023

Net cash provided by (used in) operating activities

$              2,568


$            (4,373)


$            13,355


$          (17,580)

Purchases of property and equipment

(1,871)


(704)


(3,559)


(5,016)

Cash paid for technology development, patents and licenses

(1,430)


(1,455)


(4,822)


(5,071)

Free Cash Flow

(733)


(6,532)


4,974


(27,667)

Restructuring and other cash payments (1)

343


6,279


3,100


11,014

Adjusted Free Cash Flow

$               (390)


$               (253)


$              8,074


$          (16,653)



(1)  

On February 7, 2023, our Board of Directors approved the Integration Plan, which is intended to streamline and simplify operations, particularly around our recent acquisitions and the resulting redundant operations and offerings. The Restructuring and other costs primarily consist of severance and related benefits associated with the Restructuring Plan, Integration Plan, and executive transitions.


« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8  Next Page »
Featured Video
Jobs
Senior Principal Software Engineer for Autodesk at San Francisco, California
Machine Learning Engineer 3D Geometry/ Multi-Modal for Autodesk at San Francisco, California
Principal Engineer for Autodesk at San Francisco, California
Mechanical Manufacturing Engineering Manager for Google at Sunnyvale, California
Mechanical Test Engineer, Platforms Infrastructure for Google at Mountain View, California
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
Upcoming Events
Dimensions User Conference 2024 at The Venetian Resort Las Vegas NV - Nov 11 - 13, 2024
Greenbuild 2024 at Pennsylvania Convention Center Philadelphia PA - Nov 12 - 15, 2024
Digital Construction North (DCN) 2024 at Manchester Central. Manchester United Kingdom - Nov 13, 2024
Digital Twins 2024 at the Gaylord National Resort & Convention Center in, MD. National Harbor MD - Dec 9 - 11, 2024



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise