NASDAQ$FARO
FARO Technologies Inc · Q1 2021 earnings
Q1 2021 earnings · · Investor relations
Briefing
FARO's first quarter demand reflected historical seasonality combined with an ongoing but improving pandemic demand impact.
FARO announced its Q1 2021 financial results with sales of $76.3 million, a slight decline compared to $79.5 million in Q1 2020, which the company attributes to the economic effects of the COVID-19 pandemic. New order bookings increased by 3% year-over-year to $80.6 million. The company reported a net loss of $3.2 million, or $0.18 per share, compared to a net loss of $14.8 million, or $0.84 per share, for the same period last year.
- First quarter sales reached $76.3 million, compared to $79.5 million in the first quarter of 2020.
- New order bookings in the first quarter were $80.6 million, up 3% over the preceding year.
- Net loss was $3.2 million, or $0.18 per share, compared to a net loss of $14.8 million, or $0.84 per share, for the first quarter of 2020.
- Adjusted EBITDA was $0.4 million, or 0.5% of total sales, compared to $3.1 million, or 3.9% of total sales, for the first quarter of 2020.
Headline financials
Revenue & EPS history
FARO · Revenue · Quarterly
$76.3M
Revenue by segment
FARO · $19.9M total across 1 segment · Q3 2023
- Service Sales$19.9M+0.8%100.0%
Forward guidance
FARO anticipates continued improvement throughout 2021 as demand returns to normalized pre-pandemic levels, with the expectation that their new cost structure will enable the sustained achievement of 20% EBITDA margins.
Tailwinds
- Demand expected to improve throughout 2021 as the pandemic's impact diminishes.
- New cost structure is anticipated to enable sustained achievement of 20% EBITDA margins once demand normalizes.
- Strategic initiatives focused on aligning hardware and software development activities.
- Efforts to add value to customer's workflows.
- Aims to create long-term product differentiation in target markets.
Headwinds
- First quarter demand reflected historical seasonality combined with an ongoing pandemic demand impact.
- Sales declined compared to the first quarter of 2020 due to the economic effect of the Covid pandemic.
- Gross margin decreased due to changes in product mix and lower sales resulting from the COVID-19 pandemic.
- Adjusted EBITDA decreased compared to the first quarter of 2020.
- Cash and short-term investments decreased by $15.7 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 6 quarterly earnings reports
+1.8%
Avg return
Earnings day
+19.0%
Avg return
5 days after
+17.2%
Avg return
30 days after
56%
35 / 62 earnings
Positive
+41.4%
Q3 2024
Best reaction
-42.7%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | — | — | — | |
| Q2 2025 | — | — | — | |
| Q1 2025 | +34.7% | +34.5% | +34.9% | |
| Q4 2024 | +17.3% | +17.9% | +4.9% | |
| Q3 2024 | +41.4% | +53.9% | +46.9% | |
| Q2 2024 | +7.1% | +9.3% | +18.1% | |
| Q1 2024 | -2.1% | -2.8% | -0.4% | |
| Q4 2023 | +2.8% | +1.1% | -1.2% | |
| Q3 2023 | +13.5% | — | — | |
| Q2 2023 | +17.0% | — | — | |
| Q1 2023 | -42.7% | — | — | |
| Q4 2022 | +3.1% | — | — | |
| Q3 2022 | +1.7% | — | — | |
| Q2 2022 | +10.3% | — | — | |
| Q1 2022 | -23.0% | — | — | |
| Q4 2021 | -7.1% | — | — | |
| Q3 2021 | -0.1% | — | — | |
| Q2 2021 | +1.3% | — | — | |
| Q1 2021 | -7.8% | — | — | |
| Q4 2020 | +12.9% | — | — | |
| Q3 2020 | -2.7% | — | — | |
| Q2 2020 | -4.2% | — | — | |
| Q1 2020 | +13.0% | — | — | |
| Q4 2019 | +14.0% | — | — | |
| Q3 2019 | +0.4% | — | — | |
| Q2 2019 | -1.1% | — | — | |
| Q1 2019 | -2.2% | — | — | |
| Q4 2018 | -7.2% | — | — | |
| Q3 2018 | -8.7% | — | — | |
| Q2 2018 | +17.2% | — | — | |
| Q1 2018 | -15.8% | — | — | |
| Q4 2017 | +16.2% | — | — | |
| Q3 2017 | +19.2% | — | — | |
| Q2 2017 | -6.2% | — | — | |
| Q1 2017 | -5.8% | — | — | |
| Q4 2016 | -6.5% | — | — | |
| Q3 2016 | -8.9% | — | — | |
| Q2 2016 | -9.5% | — | — | |
| Q1 2016 | +13.4% | — | — | |
| Q4 2015 | +14.5% | — | — | |
| Q3 2015 | -27.9% | — | — | |
| Q2 2015 | +15.3% | — | — | |
| Q1 2015 | -5.6% | — | — | |
| Q4 2014 | +2.2% | — | — | |
| Q3 2014 | +7.2% | — | — | |
| Q2 2014 | +15.0% | — | — | |
| Q1 2014 | -17.3% | — | — | |
| Q4 2013 | +2.1% | — | — | |
| Q3 2013 | +11.8% | — | — | |
| Q2 2013 | -1.5% | — | — | |
| Q1 2013 | -11.7% | — | — | |
| Q4 2012 | +21.3% | — | — | |
| Q3 2012 | -18.0% | — | — | |
| Q2 2012 | -23.7% | — | — | |
| Q1 2012 | +5.1% | — | — | |
| Q4 2011 | +0.6% | — | — | |
| Q4 2009 | +0.6% | — | — | |
| Q3 2011 | +12.6% | — | — | |
| Q3 2010 | +12.6% | — | — | |
| Q2 2010 | -9.2% | — | — | |
| Q2 2011 | -9.2% | — | — | |
| Q4 2010 | +7.3% | — | — | |
| Q1 2010 | +7.3% | — | — | |
| Q1 2011 | +7.3% | — | — |
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