Faro Technologies ( (FARO) ) has released its Q4 earnings. Here is a breakdown of the information Faro Technologies presented to its investors.
FARO Technologies, Inc., a global leader in 4D digital reality solutions, provides technology that enables customers to measure and analyze their environments, primarily serving industries such as manufacturing and construction.
FARO Technologies recently announced its financial results for the fourth quarter and full year of 2024, showcasing significant improvements in various financial metrics despite a slight decline in total sales. The company reported a decade-high adjusted EBITDA margin and continued positive cash flow, marking a milestone year.
Key highlights from the report include fourth-quarter revenue of $93.5 million, a net loss of $1.0 million, and a non-GAAP EPS of $0.50. The company achieved a gross margin of 56.7% and an adjusted EBITDA margin of 17.9%. For the full year, FARO reported total sales of $342.4 million, a net loss of $9.1 million, and a non-GAAP net income of $18.5 million. The company also noted a significant improvement in cash flow from operations, with a $29.6 million year-over-year increase.
Looking forward, FARO Technologies remains optimistic about its growth prospects, driven by a multi-phase strategy focused on operational excellence, organic growth, and strategic investments. The company expects to maintain its market leadership and create long-term value for shareholders as it enters 2025.