NASDAQ$FARO
FARO Technologies Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
FARO's first quarter performance in 2024 demonstrated a strong start to the year, with revenue at the upper end of guidance and Non-GAAP EPS exceeding guidance.
FARO Technologies reported Q1 2024 revenue of $84.2 million, a GAAP loss per share of $(0.38), and non-GAAP EPS of $0.09. The company generated $6.6 million in operating cash flow and achieved a gross margin of 51.4%.
- Revenue reached $84.2 million, hitting the upper end of the guidance range.
- GAAP loss per share was $(0.38), while non-GAAP EPS was $0.09, surpassing the guidance.
- Cash flow from operations amounted to $6.6 million.
- Gross margin was 51.4%, increasing from 46.7% in the prior year.
Headline financials
Revenue & EPS history
FARO · Revenue · Quarterly
$84.2M
Revenue by segment
FARO · $19.9M total across 1 segment · Q3 2023
- Service Sales$19.9M+0.8%100.0%
Forward guidance
For the second quarter ending June 30, 2024, FARO expects revenue in the range of $79 to $87 million, gross margin between 50.5% and 52.0%, operating expenses between $46 and $48 million, and a net loss per share in the range of ($0.43) to ($0.23).
Tailwinds
- Revenue is expected to be in the range of $79 to $87 million.
- Gross margin is projected to be between 50.5% and 52.0%.
- Non-GAAP gross margin is expected to be between 51.0% and 52.5%.
- Operating expenses are anticipated to be in the range of $46 to $48 million.
- Non-GAAP operating expenses are projected to be between $41 and $43 million.
Headwinds
- Net loss per share is expected to be in the range of ($0.43) to ($0.23).
- Non-GAAP net loss to net income per share is projected to be in the range of $(0.08) to $0.12.
- Stock-based compensation is expected to impact gross margin by 0.5%.
- Purchase accounting intangible amortization and restructuring costs are expected to impact operating expenses.
- Non-GAAP tax adjustments are also expected to influence diluted loss per share.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 6 quarterly earnings reports · overlaid with Q1 2024
+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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