NASDAQ$FARO
FARO Technologies Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
FARO's third quarter results for 2024 were announced, showing revenue at the upper end of guidance and non-GAAP EPS above guidance.
FARO Technologies reported Q3 2024 revenue of $82.6 million, with a GAAP net loss of $0.3 million, or $(0.02) per share, and non-GAAP EPS of $0.21. The company achieved a gross margin of 55.7% and non-GAAP gross margin of 56.1%.
- Revenue of $82.6 million, at the upper end of guidance range.
- Gross margin of 55.7%; Non-GAAP gross margin 56.1%, above guidance range.
- Loss per share of $(0.02); Non-GAAP earnings per share (“EPS”) of $0.21, above guidance range.
- Share repurchases of $10 million during the quarter.
Headline financials
Revenue & EPS history
FARO · Revenue · Quarterly
$82.6M
Revenue by segment
FARO · $19.9M total across 1 segment · Q3 2023
- Service Sales$19.9M+0.8%100.0%
Forward guidance
For the fourth quarter ending December 31, 2024, FARO expects revenue in the range of $88 to $96 million and Non-GAAP net income per share in the range of $0.32 to $0.52.
Tailwinds
- Revenue in the range of $88 to $96 million
- Gross margin in the range of 55.6% to 57.1%
- Non-GAAP gross margin in the range of 56.0% to 57.5%
- Operating expenses in the range of $47.4 to $49.4 million
- Non-GAAP operating expenses in the range of $40.5 to $42.5 million
Headwinds
- Net (loss) income per share in the range of ($0.15) to $0.05
- Stock-based compensation impact on gross margin: 0.4%
- Stock-based compensation impact on operating expenses: $3,600 thousands
- Purchase accounting intangible amortization impact on operating expenses: $1,100 thousands
- Restructuring and other costs impact on operating expenses: $2,200 thousands
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 Q3 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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