NASDAQ$FARO
FARO Technologies Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
FARO's financial performance reflected strong demand and strategic advancements.
FARO reported a 12% increase in total sales compared to Q3 2020, driven by pandemic recovery, while facing logistical challenges that shifted some orders to Q4. The company's gross margin improved due to higher volumes, and they are optimistic about demonstrating operating leverage as revenue approaches pre-pandemic levels.
- Total sales increased by 12% year-over-year to $79.2 million.
- Gross margin improved to 53.5% compared to 51.3% in the same prior year period.
- Net loss was $3.9 million, or $0.21 per share, compared to a net loss of $3.0 million, or $0.17 per share, for the third quarter 2020.
- Adjusted EBITDA was $2.7 million, or 3.4% of Non-GAAP total sales, compared to $820 thousand, or 1.2% of Non-GAAP total sales, for the third quarter of 2020.
Headline financials
Revenue & EPS history
FARO · Revenue · Quarterly
$79.2M
Revenue by segment
FARO · $19.9M total across 1 segment · Q3 2023
- Service Sales$19.9M+0.8%100.0%
Forward guidance
The company anticipate strong fourth quarter demand and look forward to demonstrating the operating leverage.
Tailwinds
- Strong fourth quarter demand indicators.
- Revenue returning to pre-pandemic levels.
- Customer response to new products is encouraging.
- Next generation Quantum Max ScanArm is well received.
- Holobuilder photogrammetry products are on track to double over the next year.
Headwinds
- Customer COVID-related logistical challenges shifted some orders into the fourth quarter.
- Sequential sales decreased due to seasonal softness in European markets.
- Pandemic related logistical constraints on behalf of our customers.
- Sequential sales decreased was driven by typical seasonal softness in European markets.
- New order bookings decreased 9% sequentially.
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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